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 refers to a market where prices are determined by supply and demand?
(a) Free market.
(b) Controlled market.
(c) Influx market.
(d) Random market.

2. What is an assistance paid to a business or economic sector?
(a) Subsidy.
(b) Derivative.
(c) Interest.
(d) Collateral.

3. North Korea is a single-party state under a united front led by what party?
(a) The Korean Workers' Party.
(b) The Korean Entitlement Party.
(c) The Democratic Party.
(d) The Communist Party.

4. What refers to law which has been enacted by a legislature or other governing body, or the process of making it?
(a) Legislation.
(b) Hedge.
(c) Trade-off.
(d) Gresham's law.

5. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) Brand recognition.
(b) Reinstitution of Communism.
(c) Freedom for the German people.
(d) World domination.

Short Answer Questions

1. What refers to economy-wide fluctuations in production or economic activity over several months or years?

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

3. Cuba remained a territory of Spain until the Spanish-American War ended in what year?

4. According to the author, financial markets boil down to four basic simple needs. What is the first discussed in Chapter 7?

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

(see the answer key)

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