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

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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-7.

Multiple Choice Questions

1. 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) Storing, protecting and making profitable use of excess capital.
(c) Speculation.
(d) Insuring against risk.

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

3. What refers to reasoning which constructs or evaluates deductive arguments?
(a) Deductive reasoning.
(b) Critical reasoning.
(c) Decisive reasoning.
(d) Constructive reasoning.

4. When was Burton G. Malkiel born?
(a) 1932.
(b) 1918.
(c) 1925.
(d) 1907.

5. Michael Jensen is a professor at what university's business school?
(a) Fordham University.
(b) The University of Chicago.
(c) Harvard University.
(d) Yale University.

Short Answer Questions

1. 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?

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

3. 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?

4. Where did politicians try to deal with the level of pollution by limiting driving based on license plate numbers, according to the author in Chapter 2?

5. What does CEO stand for?

(see the answer key)

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