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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. 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?
(a) Differential equation.
(b) Derivative equation.
(c) Depression equation.
(d) Deductive equation.

2. Who gave out free medication in order to help the fight against leprosy, according to the author in Chapter 9?
(a) The University of Chicago.
(b) The World Health Organization.
(c) The Food and Drug Administration.
(d) The Bill and Melinda Gates Foundation.

3. What is a form of tourism involving visiting fragile, pristine, and usually protected areas, intended as a low impact and often small scale alternative to standard commercial tourism?
(a) Hippytourism.
(b) Geotourism.
(c) Ecotourism.
(d) Nativetourism.

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

5. In economics, what is a good that is non-rival and non-excludable?
(a) A private good.
(b) A government good.
(c) A public good.
(d) A corporate good.

Short Answer Questions

1. According to the author in Chapter 9, the average wage of an American in the year 2000 was over how much hourly?

2. What refers to reasoning which constructs or evaluates deductive arguments?

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 seventh?

4. What does the author refer to as a situation where individuals work in their own best interest, leading to an improved standard of living for society in general?

5. In 1900, a pair of stockings would cost how much money according to the author in Chapter 9?

(see the answer key)

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