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

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.
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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. Behavioral economics intertwine economics and what?
(a) Geography.
(b) Psychology.
(c) Geometry.
(d) Religion.

3. What refers to a market where prices are determined by supply and demand?
(a) Random market.
(b) Influx market.
(c) Free market.
(d) Controlled market.

4. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?
(a) Adverse selection.
(b) Trade-off.
(c) Legislation.
(d) Per capita.

5. The Lehman Brothers bank problem in 2008 occurred because the banks weren't what, according to the author?
(a) Analyzing risk.
(b) Using their own money.
(c) Keeping enough money on hand.
(d) Paying out interest.

Short Answer Questions

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

2. What does CEO stand for?

3. Arab members of OPEC alarmed the developed world when they used the "oil weapon" during what war by implementing oil embargoes?

4. Ross Perot ran for President of the United States in what year?

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

(see the answer key)

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