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. According to the author in Chapter 9, the average wage of an American in the year 2000 was over how much hourly?
(a) $9.
(b) $13.
(c) $15.
(d) $18.

2. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?
(a) Least wealthy.
(b) Most productive.
(c) Most wealthy.
(d) Least productive.

3. What is the process of contracting a business function to someone else?
(a) Investing.
(b) Motivation.
(c) Outsourcing.
(d) Managing.

4. The United Nations Monetary and Financial Conference was a gathering of delegates from how many nations?
(a) 25.
(b) 38.
(c) 44.
(d) 31.

5. 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) The government.
(b) Nonprofit organizations.
(c) Religious institutions.
(d) Corporations.

Short Answer Questions

1. In economics, what is a good that is non-rival and non-excludable?

2. What is the ninth factor one should consider along with the GDP to understand an economy, according to the author in Chapter 9?

3. What is an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investors risk tolerance, goals and investment time frame?

4. What publication commented on the French president's desire to come up with a way to measure human happiness, saying that it's like asking experts to put a number on spiritual matters?

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

(see the answer key)

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