Naked Economics: Undressing the Dismal Science Quiz | Two Week Quiz A

Charles Wheelan
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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.

Multiple Choice Questions

1. What is a mathematical equation for an unknown function of one or several variables that relates the values of the function itself and its derivatives of various orders?
(a) Derivative equation.
(b) Depression equation.
(c) Differential equation.
(d) Deductive equation.

2. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the first?
(a) Poverty.
(b) National savings.
(c) Unemployment.
(d) Total national happiness.

3. According to the author, there are two lessons to be learned from a monopoly situation. What is the second?
(a) Government shouldn't actually do the work of maintaining infrastructure.
(b) Governments should maintain the financial infrastructure more.
(c) Governments should provide more services.
(d) Government shouldn't provide any service that could be covered by the private sector.

4. What does OPEC stand for?
(a) Original Plan Excluding Copyright.
(b) Oval Palace Executive Class.
(c) Oil and Petroleum Exclusion Clause.
(d) Organization of Petroleum Exporting Countries.

5. What refers to reasoning which constructs or evaluates deductive arguments?
(a) Decisive reasoning.
(b) Constructive reasoning.
(c) Deductive reasoning.
(d) Critical reasoning.

Short Answer Questions

1. Michael Jensen refers to company stock options as what in Chapter 2?

2. Americans today are how many times as rich as an American in the 1940s according to the author in Chapter 9?

3. What publication commented on the French president's desire to come up with a way to measure human happiness, saying that it's like asking experts to put a number on spiritual matters?

4. According to the author, there are two lessons to be learned from a monopoly situation. What is the first?

5. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?

(see the answer key)

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