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. In finance, what is a derivative financial instrument that specifies a contract between two parties for a future transaction on an asset at a reference price?
(a) Option.
(b) Portfolio.
(c) Bond.
(d) Trade-off.

2. When did the Korean War end?
(a) 1962.
(b) 1966.
(c) 1970.
(d) 1953.

3. In finance, what is a debt security in which the authorized issuer owes the holders a debt and, depending on the terms, is obliged to pay interest to use and/or to repay the principal at a later date?
(a) Bond.
(b) Option.
(c) Deductible.
(d) Stock.

4. What is the third simple need of financial markets, as discussed in Chapter 7?
(a) Raising capital.
(b) Speculation.
(c) Storing, protecting and making profitable use of excess capital.
(d) Insuring against risk.

5. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?
(a) 1997.
(b) 1992.
(c) 2003.
(d) 1988.

Short Answer Questions

1. What refers to the increasingly global relationships of culture, people and economic activity?

2. The Cuban Revolution deposed what dictator?

3. What are negative results which occur while trying to achieve a goal for the common good?

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

5. Human capital is extremely important in economics because it is also tied together with what?

(see the answer key)

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