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

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.
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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 the third simple need of financial markets, as discussed in Chapter 7?
(a) Raising capital.
(b) Speculation.
(c) Storing, protecting and making profitable use of excess capital.
(d) Insuring against risk.

2. What is the capital of the Democratic People's Republic of Korea?
(a) Pyongyang.
(b) Osaka.
(c) Honk Kong.
(d) Beijing.

3. 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) Asset allocation.
(c) Gresham's law.
(d) Adverse selection.

4. When did the Cuban Revolution begin?
(a) 1965.
(b) 1972.
(c) 1953.
(d) 1934.

5. Behavioral economics intertwine economics and what?
(a) Psychology.
(b) Geometry.
(c) Religion.
(d) Geography.

Short Answer Questions

1. In what year did the French government try to address its unemployment rates with what the author calls the economic equivalent of fool's gold?

2. What is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities?

3. According to the principles of a market economy, if it's raining, it's time to sell what?

4. In economics, what is a good that is non-rival and non-excludable?

5. What does OPEC stand for?

(see the answer key)

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