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

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.
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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) Supply and demand.
(b) Legislation.
(c) Capitalism.
(d) The uniform pay scale.

2. According to the author in Chapter 9, to ensure accuracy, the real GDP is a figure that has been adjusted to account for what?
(a) Interest.
(b) Deflation.
(c) Inflation.
(d) Collateral.

3. What is an assistance paid to a business or economic sector?
(a) Interest.
(b) Subsidy.
(c) Collateral.
(d) Derivative.

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

5. What is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities?
(a) Foreign Exchange Market.
(b) Asset allocation.
(c) Index fund.
(d) Mutual fund.

Short Answer Questions

1. Gary Becker figured that the stock of skills, education, training and an individual's health constitutes about what percent of a modern economy's wealth?

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 seventh?

3. 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 fifth?

4. Douglas Ivester was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?

5. In economics, what refers to a general slowdown in economic activity?

(see the answer key)

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