Naked Economics: Undressing the Dismal Science Quiz | Eight Week Quiz A

Charles Wheelan
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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 1, companies want to profit, and consumers want what?
(a) Satisfaction.
(b) Education.
(c) Results.
(d) Safety.

2. What are negative results which occur while trying to achieve a goal for the common good?
(a) Unknown incentives.
(b) Perverse incentives.
(c) Abstract incentives.
(d) Ghost incentives.

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. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) World domination.
(b) Brand recognition.
(c) Freedom for the German people.
(d) Reinstitution of Communism.

5. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?
(a) $15,000.
(b) $30,000.
(c) $50,000.
(d) $120,000.

Short Answer Questions

1. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?

2. In Chapter 2, the author discusses how the black rhinoceros is nearly extinct and that the horns are considered what?

3. What refers to the increasingly global relationships of culture, people and economic activity?

4. When was Burton G. Malkiel born?

5. What is a mathematical equation for an unknown function of one or several variables that relates the values of the function itself and its derivatives of various orders?

(see the answer key)

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