Naked Economics: Undressing the Dismal Science Quiz | Eight Week Quiz C

Charles Wheelan
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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-7.

Multiple Choice Questions

1. Gary Becker figured that the stock of skills, education, training and an individual's health constitutes about what percent of a modern economy's wealth?
(a) 42.
(b) 60.
(c) 35.
(d) 75.

2. What is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties?
(a) Exchange rate.
(b) Derivative.
(c) Futures contract.
(d) Legislation.

3. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
(a) Nonprofit organizations.
(b) Religious institutions.
(c) The government.
(d) Corporations.

4. OPEC has maintained its headquarters where since 1965?
(a) Sydney.
(b) Vienna.
(c) Toronto.
(d) Havana.

5. Michael Jensen is a professor at what university's business school?
(a) Yale University.
(b) The University of Chicago.
(c) Harvard University.
(d) Fordham University.

Short Answer Questions

1. What is a collective investment scheme that aims to replicate the movements of an index of a specific financial market regardless of market conditions?

2. What is an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investors risk tolerance, goals and investment time frame?

3. According to the author, financial markets boil down to four basic simple needs. What is the first discussed in Chapter 7?

4. In finance, what is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today with delivery occurring at a specified future delivery date?

5. What is the third simple need of financial markets, as discussed in Chapter 7?

(see the answer key)

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