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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 term was first used in the early 1990s to denote an organization's reputation as an employer?
(a) The Juche Idea.
(b) Employer branding.
(c) Futures contract.
(d) Trade-off.

2. In what political structure does the government set the price and decide what's on the shelves?
(a) Utopianism.
(b) Capitalism.
(c) Marxism.
(d) Communism.

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

4. Who introduced the Hope credit?
(a) Bill Clinton.
(b) John F. Kennedy.
(c) Ronald Reagan.
(d) George W. Bush.

5. 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) Asset allocation.
(b) Money market.
(c) Communism.
(d) Capitalism.

Short Answer Questions

1. 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?

2. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?

3. Gary Becker figured that the stock of skills, education, training and an individual's health constitutes about what percent of a modern economy's wealth?

4. In what year did the French government try to address its unemployment rates with what the author calls the economic equivalent of fool's gold?

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

(see the answer key)

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