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 Chapter 2, the author discusses how the black rhinoceros is nearly extinct and that the horns are considered what?
(a) An alkaloid.
(b) An evil potion.
(c) An aphrodesiac.
(d) A poison.

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

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

4. Where did politicians try to deal with the level of pollution by limiting driving based on license plate numbers, according to the author in Chapter 2?
(a) Pyongyang.
(b) London.
(c) New York.
(d) Mexico City.

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

Short Answer Questions

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

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

3. 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?

4. What refers to reasoning which constructs or evaluates deductive arguments?

5. What describes the extent to which time or effort is well used for the intended task or purpose?

(see the answer key)

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