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. Economists ignored signs of problems in what year because they didn't want to face what might happen in the future, according to the author in the Introduction?
(a) 2002.
(b) 1998.
(c) 1994.
(d) 2005.

2. Behavioral economics intertwine economics and what?
(a) Geography.
(b) Religion.
(c) Geometry.
(d) Psychology.

3. When was Burton G. Malkiel born?
(a) 1907.
(b) 1925.
(c) 1918.
(d) 1932.

4. What is an economic model of price determination in a market that concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers?
(a) Supply and demand.
(b) Floating exchange rate.
(c) Money market.
(d) Adverse selection.

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

Short Answer Questions

1. 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?

2. What describes the extent to which time or effort is well used for the intended task or purpose?

3. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?

4. What, according to the author, motivates talented teachers to leave to go onto other professions?

5. Douglas Ivester was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?

(see the answer key)

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