View a FREE sample

This quiz consists of 5 multiple choice and 5 short answer questions through Forward - Chapter 3.

Multiple Choice Questions

1. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
(a) The government.
(b) Nonprofit organizations.
(c) Corporations.
(d) Religious institutions.

2. According to the author in Chapter 1, companies want to profit, and consumers want what?
(a) Safety.
(b) Satisfaction.
(c) Education.
(d) Results.

3. Ross Perot ran for President of the United States in what year?
(a) 2002.
(b) 2000.
(c) 1988.
(d) 1992.

4. 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?
(a) $1,000.
(b) $2,500.
(c) $6,000.
(d) $8,700.

5. Behavioral economics intertwine economics and what?
(a) Geometry.
(b) Religion.
(c) Psychology.
(d) Geography.

Short Answer Questions

1. With uniform rules and regulations, the cost of doing business in the private sector is what, according to the author in Chapter 3?

2. According to the principles of a market economy, if it's raining, it's time to sell what?

3. Michael Jensen refers to company stock options as what in Chapter 2?

4. In what year did the French government try to address its unemployment rates with what the author calls the economic equivalent of fool's gold?

5. What rhetorical question do economists ask, according to the author in Chapter 1?

(see the answer key)

This section contains 213 words (approx. 1 page at 300 words per page) View a FREE sample