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. Michael Jensen refers to company stock options as what in Chapter 2?
(a) "Wall Streets marijuana."
(b) "A trough of money."
(c) "Cocaine for businessmen."
(d) "Managerial heroin."

2. What contends that prices of publicly traded assets reflect all publicly available information?
(a) Supply and demand.
(b) The efficient market hypothesis.
(c) Adverse selection.
(d) The uniform pay scale.

3. What does GDP stand for?
(a) Gems and Diamonds Per capita.
(b) Gross Domestic Product.
(c) Gain and Drain Portfolio.
(d) Geographic Diversity Plot.

4. What refers to the increasingly global relationships of culture, people and economic activity?
(a) Monopoly.
(b) Slavery.
(c) Globalization.
(d) Consolidation.

5. Behavioral economics intertwine economics and what?
(a) Geometry.
(b) Geography.
(c) Psychology.
(d) Religion.

Short Answer Questions

1. According to the author in Chapter 9, to ensure accuracy, the real GDP is a figure that has been adjusted to account for what?

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

3. 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?

4. According to the author, financial markets boil down to four basic simple needs. What is the second discussed in Chapter 7?

5. When was Gary Becker born?

(see the answer key)

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