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 is an economic model of price determination in a market that concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers?
(a) Supply and demand.
(b) Adverse selection.
(c) Money market.
(d) Floating exchange rate.

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?
(a) Index fund.
(b) Human capital.
(c) Futures contract.
(d) Differential equation.

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

4. 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?
(a) Depression equation.
(b) Differential equation.
(c) Derivative equation.
(d) Deductive equation.

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

Short Answer 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 in Chapter 1, companies want to profit, and consumers want what?

3. What is the third simple need of financial markets, as discussed in Chapter 7?

4. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?

5. What contends that prices of publicly traded assets reflect all publicly available information?

(see the answer key)

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