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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. 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 fourth?
(a) National savings.
(b) Income inequality.
(c) Unemployment.
(d) Size of the government.

2. The Chinese GDP has grown substantially over the past decade, yet its success is correlated to what, according to the author in Chapter 9?
(a) Quality of life.
(b) Utility costs.
(c) Environmental degradation.
(d) Interest payments.

3. What does the author refer to as a situation where individuals work in their own best interest, leading to an improved standard of living for society in general?
(a) Communism.
(b) Money market.
(c) Capitalism.
(d) Asset allocation.

4. What describes the extent to which time or effort is well used for the intended task or purpose?
(a) Reliability.
(b) Efficiency.
(c) Proximity.
(d) Intention.

5. What is an investment position intended to offset potential losses that may be incurred by a companion investment?
(a) Futures contract.
(b) Deductible.
(c) Hedge.
(d) Bond.

Short Answer Questions

1. In 1900, the average wage was how much per hour according to the author in Chapter 9?

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

3. According to the author in Chapter 9, the average wage of an American in the year 2000 was over how much hourly?

4. The Hope Scholarship program was shut down after how many years, according to the author?

5. According to the author in Chapter 9, to ensure accuracy, the real GDP is a figure that has been adjusted to account for what?

(see the answer key)

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