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. In Chapter 6, the author discusses poverty and income equality, using the example of what billionaire?
(a) Donald Trump.
(b) Ted Turner.
(c) Bill Gates.
(d) Fidel Castro.

2. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?
(a) 2003.
(b) 1997.
(c) 1988.
(d) 1992.

3. What does CEO stand for?
(a) Civil Engineer's Office.
(b) Chief Executive Officer.
(c) Continental Energy Options.
(d) Cheap Everpresent Oil.

4. 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) Money market.
(b) Supply and demand.
(c) Floating exchange rate.
(d) Adverse selection.

5. When was the Hope credit established?
(a) 1992.
(b) 1974.
(c) 1999.
(d) 1985.

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

4. What is the financial system consisting of institutions and regulators that act on the international level, as opposed to those that act on a national or regional level?

5. When was Douglas Ivester born?

(see the answer key)

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