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

2. What is generally a fungible, negotiable financial instrument representing financial value?
(a) Security.
(b) Option.
(c) Portfolio.
(d) Index fund.

3. According to the author in Chapter 7, the basic set of rules and investor should follow is to do what?
(a) Save, invest, and repeat.
(b) Invest, watch, sell.
(c) Research, invest, watch.
(d) Research, fact check, invest.

4. What is the third simple need of financial markets, as discussed in Chapter 7?
(a) Raising capital.
(b) Speculation.
(c) Insuring against risk.
(d) Storing, protecting and making profitable use of excess capital.

5. What is the fourth simple need of financial markets, as discussed in Chapter 7?
(a) Speculation.
(b) Storing, protecting and making profitable use of excess capital.
(c) Raising capital.
(d) Insuring against risk.

Short Answer Questions

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

2. According to Burton G. Malkiel in the Forward, economists often don't show a connection to what?

3. What is a collective investment scheme that aims to replicate the movements of an index of a specific financial market regardless of market conditions?

4. 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?

5. In an insurance policy, what is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses?

(see the answer key)

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