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

Charles Wheelan
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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.

Multiple Choice Questions

1. What, according to the author, motivates talented teachers to leave to go onto other professions?
(a) Capitalism.
(b) The uniform pay scale.
(c) Legislation.
(d) Supply and demand.

2. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?
(a) Legislation.
(b) Adverse selection.
(c) Per capita.
(d) Trade-off.

3. India has a very low GDP per capita, and it also has over how many cases of leprosy according to the author in Chapter 9?
(a) 100,000.
(b) 35,000.
(c) 70,000.
(d) 50,000.

4. What refers to economy-wide fluctuations in production or economic activity over several months or years?
(a) Depression.
(b) Recession.
(c) Business cycle.
(d) Trade-off.

5. 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?
(a) 1988.
(b) 2000.
(c) 1997.
(d) 1993.

Short Answer Questions

1. Michael Jensen refers to company stock options as what in Chapter 2?

2. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the fourth?

3. In finance, what is a derivative financial instrument that specifies a contract between two parties for a future transaction on an asset at a reference price?

4. When did the Great Depression begin in the United States?

5. According to the author in Chapter 2, the average annual income is what in the location where black rhinoceros horns are worth much on the black market?

(see the answer key)

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