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

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.
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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-7.

Multiple Choice Questions

1. What represents the original capital paid into or invested in the business by its founders?
(a) Collateral.
(b) Bond.
(c) Pork barrel.
(d) Stock.

2. What refers to the increasingly global relationships of culture, people and economic activity?
(a) Monopoly.
(b) Globalization.
(c) Slavery.
(d) Consolidation.

3. What rhetorical question do economists ask, according to the author in Chapter 1?
(a) "Who hears New York?"
(b) "Who smells Detroit?"
(c) "Who sees London?"
(d) "Who feeds Paris?"

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

5. According to the author, insurance companies want to save money while doctors want to help patients and avoid what?
(a) Losing their medical license.
(b) Spreading diseases.
(c) Unnecessary fatalities.
(d) Getting sued.

Short Answer Questions

1. 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?

2. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?

3. What is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities?

4. Who led the Cuban Revolution?

5. What, according to the author, motivates talented teachers to leave to go onto other professions?

(see the answer key)

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