|Name: _________________________||Period: ___________________|
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 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
(b) Religious institutions.
(c) Nonprofit organizations.
(d) The government.
2. What refers to reasoning which constructs or evaluates deductive arguments?
(a) Constructive reasoning.
(b) Deductive reasoning.
(c) Decisive reasoning.
(d) Critical reasoning.
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?
4. Gary Becker is a professor of economics, sociology at what institution?
(a) The University of Chicago.
(b) Fordham University.
(c) Harvard University.
(d) The University of Montana.
5. According to the author, insurance companies want to save money while doctors want to help patients and avoid what?
(a) Unnecessary fatalities.
(b) Getting sued.
(c) Spreading diseases.
(d) Losing their medical license.
Short Answer Questions
1. Human capital is extremely important in economics because it is also tied together with what?
2. What is the appropriation of government spending for localized projects secured solely or primarily to bring money to a representative's district?
3. What does OPEC stand for?
4. Gary Becker received the United States Presidential Medal of Freedom in what year?
5. When was Burton G. Malkiel born?
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