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. What is the capital of the Republic of Cuba?
(a) Havana.
(b) Kingston.
(c) Tijuana.
(d) Miami.

2. What is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market?
(a) Interdependent exchange rate.
(b) Subsidized exchange rate.
(c) Floating exchange rate.
(d) Inflationary exchange rate.

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

4. What is the fourth simple need of financial markets, as discussed in Chapter 7?
(a) Storing, protecting and making profitable use of excess capital.
(b) Raising capital.
(c) Insuring against risk.
(d) Speculation.

5. The horns of the black rhinoceros are used to make what for the Yemenese people, according to the author in Chapter 2?
(a) Daggers.
(b) Paperweights.
(c) Necklaces.
(d) Funnels.

Short Answer Questions

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

2. What refers to economy-wide fluctuations in production or economic activity over several months or years?

3. What, as defined by the International Labour Organization, occurs when people are without jobs and they have actively sought work within the past four weeks?

4. When was Gary Becker born?

5. The Lehman Brothers bank problem in 2008 occurred because the banks weren't what, according to the author?

(see the answer key)

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