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. Michael Jensen refers to company stock options as what in Chapter 2?
(a) "Cocaine for businessmen."
(b) "A trough of money."
(c) "Wall Streets marijuana."
(d) "Managerial heroin."

2. What refers to reasoning which constructs or evaluates deductive arguments?
(a) Deductive reasoning.
(b) Constructive reasoning.
(c) Decisive reasoning.
(d) Critical reasoning.

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

4. OPEC is an intergovernmental organization of how many oil-producing countries?
(a) 12.
(b) 5.
(c) 8.
(d) 23.

5. In economics and sociology, what refers to any factor that enables or motivates a particular course of action or counts as a reason for preferring one choice to the alternatives?
(a) Incentive.
(b) Belief.
(c) Punishment.
(d) Barrier.

Short Answer Questions

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

2. Michael Jensen is a professor at what university's business school?

3. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?

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

5. What does CEO stand for?

(see the answer key)

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