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. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?
(a) 1997.
(b) 2003.
(c) 1992.
(d) 1988.

2. Arab members of OPEC alarmed the developed world when they used the "oil weapon" during what war by implementing oil embargoes?
(a) The Gaza War.
(b) The Jerusalem War.
(c) The Torah War.
(d) The Yom Kippur War.

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 second?
(a) National savings.
(b) Poverty.
(c) Demographics.
(d) Income inequality.

4. The GDP does not consider economic activity that is what, according to the author in Chapter 9?
(a) Subsidized.
(b) Interdependent.
(c) Unpaid.
(d) Deductible.

5. 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 third?
(a) Current account surplus/deficit.
(b) Income inequality.
(c) National savings.
(d) Unemployment.

Short Answer Questions

1. What represents the original capital paid into or invested in the business by its founders?

2. According to the author in Chapter 2, the average annual income is what in the location where black rhinoceros horns are worth much on the black market?

3. In lending agreements, what is a borrower's pledge of specific property to a lender, to secure repayment of a loan?

4. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?

5. In what year did Douglas Ivester tell his sales team to pass free Coca-Cola around as the Berlin Wall toppled?

(see the answer key)

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