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 was the Federal Reserve Act enacted?
(a) 1913.
(b) 1892.
(c) 1776.
(d) 1812.

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?
(a) Index fund.
(b) Money market.
(c) Futures contract.
(d) Public policy.

3. In what year did the French government try to address its unemployment rates with what the author calls the economic equivalent of fool's gold?
(a) 2000.
(b) 1997.
(c) 1988.
(d) 1993.

4. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?
(a) $2.
(b) $4.
(c) $11.
(d) $7.

5. In France, what president wanted to come up with a way to measure human happiness, as described in Chapter 9?
(a) Charles de Gaulle.
(b) Nicholas Sarkozy.
(c) François Mitterrand.
(d) Jacques Chirac.

Short Answer Questions

1. What does the author refer to as a situation where individuals work in their own best interest, leading to an improved standard of living for society in general?

2. In an insurance policy, what is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses?

3. In what year did Douglas Ivester tell his sales team to pass free Coca-Cola around as the Berlin Wall toppled?

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

5. What is a term used in economics that refers to a market process in which "bad" results occur when buyers and sellers have asymmetric information?

(see the answer key)

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