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 does GDP stand for?
(a) Geographic Diversity Plot.
(b) Gross Domestic Product.
(c) Gems and Diamonds Per capita.
(d) Gain and Drain Portfolio.

2. In economics, what is a sustained, long-term downturn in economic activity in one or more economies?
(a) Business cycle.
(b) Depression.
(c) Trade-off.
(d) Recession.

3. 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) Unemployment.
(b) Income inequality.
(c) National savings.
(d) Size of the government.

4. The Lehman Brothers bank problem in 2008 occurred because the banks weren't what, according to the author?
(a) Keeping enough money on hand.
(b) Analyzing risk.
(c) Paying out interest.
(d) Using their own money.

5. What is generally a fungible, negotiable financial instrument representing financial value?
(a) Security.
(b) Option.
(c) Index fund.
(d) Portfolio.

Short Answer Questions

1. What is an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investors risk tolerance, goals and investment time frame?

2. What contends that prices of publicly traded assets reflect all publicly available information?

3. Where did politicians try to deal with the level of pollution by limiting driving based on license plate numbers, according to the author in Chapter 2?

4. Mark Miringhoff believes the nation should have what, as described in Chapter 9?

5. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?

(see the answer key)

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