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

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.
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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. India has a very low GDP per capita, and it also has over how many cases of leprosy according to the author in Chapter 9?
(a) 35,000.
(b) 50,000.
(c) 100,000.
(d) 70,000.

2. What refers to the stock of competencies, knowledge and personality attributes embodied in the ability to perform labor so as to produce economic value?
(a) Human capital.
(b) Futures contract.
(c) Differential equation.
(d) Index fund.

3. What is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties?
(a) Futures contract.
(b) Derivative.
(c) Exchange rate.
(d) Legislation.

4. What are negative results which occur while trying to achieve a goal for the common good?
(a) Ghost incentives.
(b) Perverse incentives.
(c) Unknown incentives.
(d) Abstract incentives.

5. Cuba remained a territory of Spain until the Spanish-American War ended in what year?
(a) 1898.
(b) 1841.
(c) 1862.
(d) 1913.

Short Answer Questions

1. The GDP does not consider economic activity that is what, according to the author in Chapter 9?

2. In finance, what is a derivative financial instrument that specifies a contract between two parties for a future transaction on an asset at a reference price?

3. In Chapter 9, the author discusses how fifteen years ago what nation was on top of the world economically?

4. 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 third?

5. Douglas Ivester was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?

(see the answer key)

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