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 Chapter 6, the author discusses poverty and income equality, using the example of what billionaire?
(a) Donald Trump.
(b) Bill Gates.
(c) Fidel Castro.
(d) Ted Turner.

2. According to the author in Chapter 1, companies want to profit, and consumers want what?
(a) Results.
(b) Safety.
(c) Education.
(d) Satisfaction.

3. What is the ninth factor one should consider along with the GDP to understand an economy, according to the author in Chapter 9?
(a) Current account surplus/deficit.
(b) Income inequality.
(c) Total national happiness.
(d) National savings.

4. In economics, what is a good that is non-rival and non-excludable?
(a) A private good.
(b) A public good.
(c) A government good.
(d) A corporate good.

5. What does OPEC stand for?
(a) Oil and Petroleum Exclusion Clause.
(b) Original Plan Excluding Copyright.
(c) Oval Palace Executive Class.
(d) Organization of Petroleum Exporting Countries.

Short Answer Questions

1. OPEC has maintained its headquarters where since 1965?

2. When did the California Gold Rush begin?

3. In Chapter 12, the author states that statistics clearly show that the world is growing more economically what?

4. What country had a bad reputation so it's government created a currency board ensuring that each of its pesos was worth one United States dollar?

5. The delegates at the United Nations Monetary and Financial Conference created the World Bank, which is owned by how many member countries?

(see the answer key)

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