|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Forward - Chapter 3.
Multiple Choice Questions
1. What, according to the author, motivates talented teachers to leave to go onto other professions?
(a) The uniform pay scale.
(c) Supply and demand.
2. According to Burton G. Malkiel in the Forward, economists often don't show a connection to what?
(a) Wall Street.
(d) Everyday life.
3. When did Ross Perot found Electronic Data Systems?
4. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?
(c) Per capita.
(d) Adverse selection.
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 productive.
(c) Least wealthy.
(d) Most wealthy.
Short Answer Questions
1. Michael Jensen refers to company stock options as what in Chapter 2?
2. What does OPEC stand for?
3. In Chapter 2, the author discusses how the black rhinoceros is nearly extinct and that the horns are considered what?
4. 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?
5. The horns of the black rhinoceros are used to make what for the Yemenese people, according to the author in Chapter 2?
This section contains 240 words
(approx. 1 page at 300 words per page)