|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-7.
Multiple Choice Questions
1. With uniform rules and regulations, the cost of doing business in the private sector is what, according to the author in Chapter 3?
2. According to the author, there are two lessons to be learned from a monopoly situation. What is the first?
(a) Government shouldn't provide any service that could be covered by the private sector.
(b) Governments should maintain the financial infrastructure more.
(c) Government shouldn't actually do the work of maintaining infrastructure.
(d) Governments should provide more services.
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.
(c) Religious institutions.
(d) The government.
4. What is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties?
(b) Futures contract.
(c) Exchange rate.
5. Douglas Ivester was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?
(a) Mark Miringhoff.
(b) Ronald Coase.
(c) Roberto Goizueta.
(d) George Stigler.
Short Answer Questions
1. 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?
2. What refers to the stock of competencies, knowledge and personality attributes embodied in the ability to perform labor so as to produce economic value?
3. Michael Jensen is a professor at what university's business school?
4. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?
5. When was the Hope credit established?
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