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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 is a mathematical equation for an unknown function of one or several variables that relates the values of the function itself and its derivatives of various orders?
(a) Derivative equation.
(b) Depression equation.
(c) Differential equation.
(d) Deductive equation.

2. In finance, what is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today with delivery occurring at a specified future delivery date?
(a) Business cycle.
(b) Asset allocation.
(c) Futures contract.
(d) Supply and demand.

3. 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) Freedom for the German people.
(b) Brand recognition.
(c) World domination.
(d) Reinstitution of Communism.

4. According to the author in Chapter 2, the average annual income is what in the location where black rhinoceros horns are worth much on the black market?
(a) $8,700.
(b) $1,000.
(c) $2,500.
(d) $6,000.

5. 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?
(a) Mexico City.
(b) Pyongyang.
(c) New York.
(d) London.

Short Answer Questions

1. Ross Perot ran for President of the United States in what year?

2. What country withdrew from OPEC in 2008 after it became a net importer of oil?

3. What rhetorical question do economists ask, according to the author in Chapter 1?

4. In economics, what is a good that is non-rival and non-excludable?

5. 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?

(see the answer key)

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