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) Current account surplus/deficit.
(b) Total national happiness.
(c) National savings.
(d) Demographics.

2. According to the author, the Hope Scholarships were a plan wherein students could borrow money for college and pay back their loans after they graduated using what?
(a) Regular debit payments.
(b) Government bonds.
(c) A percentage of their annual income.
(d) Interest free payments.

3. What term refers to currency with no international value?
(a) Fast cash.
(b) Vouchers.
(c) Monopoly money.
(d) Funny money.

4. 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?
(a) Money market.
(b) Futures contract.
(c) Asset allocation.
(d) Adverse selection.

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

Short Answer Questions

1. What is a financial term denoting a collection of investments held by an investment company, hedge fund, financial institution or individual?

2. In finance, what between two currencies is the rate at which one currency will be exchanged for another?

3. What is the capital of the Republic of Cuba?

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

5. What does the author refer to as a situation where individuals work in their own best interest, leading to an improved standard of living for society in general?

(see the answer key)

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