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. In Chapter 2, the author discusses how the black rhinoceros is nearly extinct and that the horns are considered what?
(a) An alkaloid.
(b) An evil potion.
(c) A poison.
(d) An aphrodesiac.

2. What refers to the increasingly global relationships of culture, people and economic activity?
(a) Monopoly.
(b) Consolidation.
(c) Slavery.
(d) Globalization.

3. 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) Asset allocation.
(b) Futures contract.
(c) Supply and demand.
(d) Business cycle.

4. Michael Jensen is a professor at what university's business school?
(a) The University of Chicago.
(b) Yale University.
(c) Fordham University.
(d) Harvard University.

5. According to the author, insurance companies want to save money while doctors want to help patients and avoid what?
(a) Losing their medical license.
(b) Getting sued.
(c) Spreading diseases.
(d) Unnecessary fatalities.

Short Answer Questions

1. When was Douglas Ivester born?

2. According to the principles of a market economy, if it's raining, it's time to sell what?

3. In economics and sociology, what refers to any factor that enables or motivates a particular course of action or counts as a reason for preferring one choice to the alternatives?

4. According to the author in Chapter 7, the basic set of rules and investor should follow is to do what?

5. What contends that prices of publicly traded assets reflect all publicly available information?

(see the answer key)

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