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

Charles Wheelan
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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 11-Epilogue.

Multiple Choice Questions

1. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the seventh?
(a) Demographics.
(b) Total national happiness.
(c) National savings.
(d) Current account surplus/deficit.

2. Where does the author live and work today?
(a) Chicago, Illinois.
(b) San Francisco, California.
(c) Minneapolis, Minnesota.
(d) Phoenix, Arizona.

3. In Chapter 13, the author states that according to the United Nations Food and Agriculture Organization, over how many people in this world don't get enough to eat?
(a) 350 million.
(b) 800 million.
(c) 1 billion.
(d) 100 million.

4. In what political structure does the government set the price and decide what's on the shelves?
(a) Marxism.
(b) Capitalism.
(c) Utopianism.
(d) Communism.

5. When did the Korean War end?
(a) 1966.
(b) 1962.
(c) 1970.
(d) 1953.

Short Answer Questions

1. In finance, what is a debt security in which the authorized issuer owes the holders a debt and, depending on the terms, is obliged to pay interest to use and/or to repay the principal at a later date?

2. Who led the Cuban Revolution?

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

4. 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?

5. Gary Becker received the United States Presidential Medal of Freedom in what year?

(see the answer key)

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