View a FREE sample

This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 11-Epilogue.

Multiple Choice Questions

1. Economists call the cycle of recession and recovery what, according to the author in Chapter 9?
(a) Gresham's law.
(b) The business cycle.
(c) Trade-off.
(d) Perverse incentives.

2. When did the Great Depression begin in the United States?
(a) 1905.
(b) 1929.
(c) 1918.
(d) 1886.

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

4. Incomes rose between 1970 and 1999, yet those who described themselves as as "very happy" decreased from 36% to what?
(a) 62%.
(b) 29%.
(c) 14%.
(d) 44%.

5. Mark Miringhoff is a social science professor at what institution?
(a) Harvard University.
(b) Fordham University.
(c) The University of Alaska.
(d) The University of Chicago.

Short Answer Questions

1. The U.S. Treasury began doing business only in gold or silver coin as part of the Independent Treasury Act of what year?

2. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?

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

4. What, in economics, refers to a globally traded currency that is expected to serve as a reliable and stable store of value?

5. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?

(see the answer key)

This section contains 226 words (approx. 1 page at 300 words per page) View a FREE sample