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. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?
(a) Least productive.
(b) Most productive.
(c) Least wealthy.
(d) Most wealthy.

2. Burton G. Malkiel is an American economist, most famous for what classic finance book?
(a) Extreme Money: Masters of the Universe and the Cult of Risk.
(b) The Millionaire Next Door: The Surprising Secrets of America's Wealthy.
(c) The Wall Street MBA: Your Personal Crash Course in Corporate Finance.
(d) A Random Walk Down Wall Street.

3. 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?
(a) Communism.
(b) Money market.
(c) Asset allocation.
(d) Capitalism.

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

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) Punishment.
(b) Incentive.
(c) Belief.
(d) Barrier.

Short Answer Questions

1. Behavioral economics intertwine economics and what?

2. In what year did the French government try to address its unemployment rates with what the author calls the economic equivalent of fool's gold?

3. What does OPEC stand for?

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 are negative results which occur while trying to achieve a goal for the common good?

(see the answer key)

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