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

2. Ross Perot ran for President of the United States in what year?
(a) 1992.
(b) 2000.
(c) 1988.
(d) 2002.

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

4. The horns of the black rhinoceros are used to make what for the Yemenese people, according to the author in Chapter 2?
(a) Daggers.
(b) Funnels.
(c) Paperweights.
(d) Necklaces.

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

Short Answer Questions

1. 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?

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?

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

4. The Lehman Brothers bank problem in 2008 occurred because the banks weren't what, according to the author?

5. In what year did Douglas Ivester tell his sales team to pass free Coca-Cola around as the Berlin Wall toppled?

(see the answer key)

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