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

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. According to the author, financial markets boil down to four basic simple needs. What is the first discussed in Chapter 7?
(a) Raising capital.
(b) Speculation.
(c) Storing, protecting and making profitable use of excess capital.
(d) Insuring against risk.

2. 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) Portfolio.
(b) Bond.
(c) Trade-off.
(d) Option.

3. According to the author, there are two lessons to be learned from a monopoly situation. What is the first?
(a) Governments should provide more services.
(b) Government shouldn't actually do the work of maintaining infrastructure.
(c) Governments should maintain the financial infrastructure more.
(d) Government shouldn't provide any service that could be covered by the private sector.

4. The Hope Scholarship program was shut down after how many years, according to the author?
(a) 2.
(b) 9.
(c) 5.
(d) 4.

5. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) Brand recognition.
(b) Reinstitution of Communism.
(c) Freedom for the German people.
(d) World domination.

Short Answer Questions

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

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

3. When did the Cuban Revolution begin?

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

5. What is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames?

(see the answer key)

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