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. When did the Cuban Revolution end?
(a) 1996.
(b) 1984.
(c) 1959.
(d) 1979.

2. According to the author in Chapter 9, the average wage of an American in the year 2000 was over how much hourly?
(a) $9.
(b) $13.
(c) $15.
(d) $18.

3. What is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets?
(a) Deductible.
(b) Derivative.
(c) Interest.
(d) Subsidy.

4. Human capital is extremely important in economics because it is also tied together with what?
(a) Inflation.
(b) Security.
(c) Productivity.
(d) Collateral.

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

Short Answer Questions

1. The Lehman Brothers bank problem in 2008 occurred because the banks weren't what, according to the author?

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

3. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?

4. What refers to the stock of competencies, knowledge and personality attributes embodied in the ability to perform labor so as to produce economic value?

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

(see the answer key)

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