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. According to the author, the Hope Scholarships were a plan wherein students could borrow money for college and pay back their loans after they graduated using what?
(a) Government bonds.
(b) Interest free payments.
(c) Regular debit payments.
(d) A percentage of their annual income.

2. What is an economic model of price determination in a market that concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers?
(a) Floating exchange rate.
(b) Adverse selection.
(c) Money market.
(d) Supply and demand.

3. Ross Perot ran for President of the United States in what year?
(a) 1992.
(b) 2002.
(c) 1988.
(d) 2000.

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

5. Cuba remained a territory of Spain until the Spanish-American War ended in what year?
(a) 1862.
(b) 1913.
(c) 1841.
(d) 1898.

Short Answer Questions

1. 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?

2. When was the Hope credit established?

3. In Chapter 2, the author discusses how the black rhinoceros is nearly extinct and that the horns are considered what?

4. What is the capital of the Republic of Cuba?

5. What is generally a fungible, negotiable financial instrument representing financial value?

(see the answer key)

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