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

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

Multiple Choice Questions

1. The Cuban Revolution deposed what dictator?
(a) Roberto Goizueta.
(b) Fulgencio Batista.
(c) Nicholas Sarkozy.
(d) Fidel Castro.

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

3. 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) $1,000.
(b) $6,000.
(c) $8,700.
(d) $2,500.

4. What does CEO stand for?
(a) Continental Energy Options.
(b) Chief Executive Officer.
(c) Cheap Everpresent Oil.
(d) Civil Engineer's Office.

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

Short Answer Questions

1. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?

2. What is an investment position intended to offset potential losses that may be incurred by a companion investment?

3. What is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties?

4. What describes the extent to which time or effort is well used for the intended task or purpose?

5. The horns of the black rhinoceros are used to make what for the Yemenese people, according to the author in Chapter 2?

(see the answer key)

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