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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-7.

Multiple Choice Questions

1. 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) Index fund.
(b) Futures contract.
(c) Differential equation.
(d) Human capital.

2. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?
(a) $30,000.
(b) $120,000.
(c) $50,000.
(d) $15,000.

3. What is the financial system consisting of institutions and regulators that act on the international level, as opposed to those that act on a national or regional level?
(a) Common financial system.
(b) Integral financial system.
(c) Global financial system.
(d) Universal financial system.

4. OPEC is an intergovernmental organization of how many oil-producing countries?
(a) 5.
(b) 23.
(c) 8.
(d) 12.

5. When was Gary Becker born?
(a) 1922.
(b) 1930.
(c) 1945.
(d) 1956.

Short Answer Questions

1. What is a collective investment scheme that aims to replicate the movements of an index of a specific financial market regardless of market conditions?

2. When did Ross Perot found Electronic Data Systems?

3. 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?

4. Arab members of OPEC alarmed the developed world when they used the "oil weapon" during what war by implementing oil embargoes?

5. What, according to the author, motivates talented teachers to leave to go onto other professions?

(see the answer key)

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