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. According to the author in Chapter 2, the average annual income is what in the location where black rhinoceros horns are worth much on the black market?
(a) $6,000.
(b) $2,500.
(c) $8,700.
(d) $1,000.

2. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
(a) Nonprofit organizations.
(b) Corporations.
(c) Religious institutions.
(d) The government.

3. When did Ross Perot found Electronic Data Systems?
(a) 1955.
(b) 1971.
(c) 1977.
(d) 1962.

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

5. 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) Geotourism.
(b) Hippytourism.
(c) Nativetourism.
(d) Ecotourism.

Short Answer Questions

1. What country withdrew from OPEC in 2008 after it became a net importer of oil?

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

3. In Chapter 2, the author discusses how the black rhinoceros is nearly extinct and that the horns are considered what?

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

5. 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?

(see the answer key)

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