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 contends that prices of publicly traded assets reflect all publicly available information?
(a) Adverse selection.
(b) The efficient market hypothesis.
(c) The uniform pay scale.
(d) Supply and demand.

2. 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) Belief.
(c) Barrier.
(d) Incentive.

3. What, according to the author, motivates talented teachers to leave to go onto other professions?
(a) The uniform pay scale.
(b) Legislation.
(c) Supply and demand.
(d) Capitalism.

4. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?
(a) $50,000.
(b) $30,000.
(c) $120,000.
(d) $15,000.

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

Short Answer Questions

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

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

3. In what political structure does the government set the price and decide what's on the shelves?

4. 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?

5. OPEC is an intergovernmental organization of how many oil-producing countries?

(see the answer key)

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