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

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. 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) Ecotourism.
(c) Nativetourism.
(d) Hippytourism.

2. 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) Per capita.
(c) Trade-off.
(d) Legislation.

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

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

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

Short Answer Questions

1. When did Ross Perot found Electronic Data Systems?

2. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?

3. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?

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

5. 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?

(see the answer key)

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