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

2. When did Ross Perot found Electronic Data Systems?
(a) 1971.
(b) 1955.
(c) 1962.
(d) 1977.

3. In what year did Douglas Ivester tell his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) 1989.
(b) 1969.
(c) 1982.
(d) 1977.

4. What is a term used in economics that refers to a market process in which "bad" results occur when buyers and sellers have asymmetric information?
(a) Pork barrel.
(b) Gresham's law.
(c) Adverse selection.
(d) Asset allocation.

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

Short Answer Questions

1. Economists ignored signs of problems in what year because they didn't want to face what might happen in the future, according to the author in the Introduction?

2. OPEC is an intergovernmental organization of how many oil-producing countries?

3. Gary Becker is a professor of economics, sociology at what institution?

4. When did the Cuban Revolution begin?

5. The horns of the black rhinoceros are used to make what for the Yemenese people, according to the author in Chapter 2?

(see the answer key)

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