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. 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?
(a) $2,500.
(b) $8,700.
(c) $1,000.
(d) $6,000.

2. What is the sixth factor one should consider along with the GDP according to the author in Chapter 9?
(a) Total national happiness.
(b) Current account surplus/deficit.
(c) Income inequality.
(d) National savings.

3. What is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties?
(a) Futures contract.
(b) Legislation.
(c) Derivative.
(d) Exchange rate.

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

5. What does OPEC stand for?
(a) Original Plan Excluding Copyright.
(b) Organization of Petroleum Exporting Countries.
(c) Oval Palace Executive Class.
(d) Oil and Petroleum Exclusion Clause.

Short Answer Questions

1. What is an investment position intended to offset potential losses that may be incurred by a companion investment?

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. What is an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investors risk tolerance, goals and investment time frame?

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

5. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?

(see the answer key)

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