|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 11-Epilogue.
Multiple Choice Questions
1. What refers to the stock of competencies, knowledge and personality attributes embodied in the ability to perform labor so as to produce economic value?
(a) Human capital.
(b) Differential equation.
(c) Index fund.
(d) Futures contract.
2. 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) Size of the government.
(b) National savings.
(d) Income inequality.
3. 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) Perverse incentives.
(b) Deductive reasoning.
(c) Pork barrel.
(d) Public policy.
4. What refers to reasoning which constructs or evaluates deductive arguments?
(a) Critical reasoning.
(b) Decisive reasoning.
(c) Constructive reasoning.
(d) Deductive reasoning.
5. What rhetorical question do economists ask, according to the author in Chapter 1?
(a) "Who hears New York?"
(b) "Who feeds Paris?"
(c) "Who sees London?"
(d) "Who smells Detroit?"
Short Answer Questions
1. When did Ross Perot found Electronic Data Systems?
2. What term was first used in the early 1990s to denote an organization's reputation as an employer?
3. What contends that prices of publicly traded assets reflect all publicly available information?
4. Americans today are how many times as rich as an American in the 1940s according to the author in Chapter 9?
5. Human capital is extremely important in economics because it is also tied together with what?
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