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. What refers to reasoning which constructs or evaluates deductive arguments?
(a) Decisive reasoning.
(b) Critical reasoning.
(c) Constructive reasoning.
(d) Deductive reasoning.

2. 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) Reinstitution of Communism.
(b) World domination.
(c) Freedom for the German people.
(d) Brand recognition.

3. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?
(a) Predictability.
(b) Index.
(c) Security.
(d) Recession.

4. What refers to a market where prices are determined by supply and demand?
(a) Random market.
(b) Controlled market.
(c) Free market.
(d) Influx market.

5. What are negative results which occur while trying to achieve a goal for the common good?
(a) Perverse incentives.
(b) Abstract incentives.
(c) Ghost incentives.
(d) Unknown incentives.

Short Answer Questions

1. What is generally a fungible, negotiable financial instrument representing financial value?

2. What is a mathematical equation for an unknown function of one or several variables that relates the values of the function itself and its derivatives of various orders?

3. In what political structure does the government set the price and decide what's on the shelves?

4. What describes the extent to which time or effort is well used for the intended task or purpose?

5. Where did politicians try to deal with the level of pollution by limiting driving based on license plate numbers, according to the author in Chapter 2?

(see the answer key)

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