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. Michael Jensen refers to company stock options as what in Chapter 2?
(a) "Cocaine for businessmen."
(b) "Wall Streets marijuana."
(c) "Managerial heroin."
(d) "A trough of money."

2. 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) Capitalism.
(c) Asset allocation.
(d) Money market.

3. In economics, what is a good that is non-rival and non-excludable?
(a) A government good.
(b) A private good.
(c) A public good.
(d) A corporate good.

4. What refers to a market where prices are determined by supply and demand?
(a) Controlled market.
(b) Free market.
(c) Influx market.
(d) Random market.

5. 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 wealthy.
(d) Least productive.

Short Answer Questions

1. Arab members of OPEC alarmed the developed world when they used the "oil weapon" during what war by implementing oil embargoes?

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

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

4. 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?

5. What does CEO stand for?

(see the answer key)

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