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

2. In 1900, a pair of stockings would cost how much money according to the author in Chapter 9?
(a) $0.25.
(b) $0.50.
(c) $0.60.
(d) $0.75.

3. 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 fourth?
(a) Unemployment.
(b) Income inequality.
(c) Size of the government.
(d) National savings.

4. What is generally the principled guide to action taken by the administrative or executive branches of the state with regard to a class of issues in a manner consistent with law and institutional customs?
(a) Pork barrel.
(b) Perverse incentives.
(c) Public policy.
(d) Deductive reasoning.

5. 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?
(a) Option.
(b) Portfolio.
(c) Bond.
(d) Trade-off.

Short Answer Questions

1. When did Ross Perot found Electronic Data Systems?

2. The author writes that trade helps the economy by doing what, in Chapter 12?

3. According to the author, insurance companies want to save money while doctors want to help patients and avoid what?

4. Where did Charles Wheelan earn a PhD in public policy?

5. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?

(see the answer key)

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