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. What is the capital of the Democratic People's Republic of Korea?
(a) Beijing.
(b) Pyongyang.
(c) Osaka.
(d) Honk Kong.

2. When did Ross Perot found Electronic Data Systems?
(a) 1977.
(b) 1971.
(c) 1955.
(d) 1962.

3. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
(a) Religious institutions.
(b) The government.
(c) Nonprofit organizations.
(d) Corporations.

4. What rhetorical question do economists ask, according to the author in Chapter 1?
(a) "Who feeds Paris?"
(b) "Who smells Detroit?"
(c) "Who sees London?"
(d) "Who hears New York?"

5. What is a financial term denoting a collection of investments held by an investment company, hedge fund, financial institution or individual?
(a) Collateral.
(b) Security.
(c) Portfolio.
(d) Legislation.

Short Answer Questions

1. What is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities?

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

3. What is the fourth simple need of financial markets, as discussed in Chapter 7?

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. OPEC is an intergovernmental organization of how many oil-producing countries?

(see the answer key)

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