1. According to the author in Chapter 13, when it comes to gaining economic power, it's best to avoid what, which depletes resources and limits education?
(a) Deflation.
(b) Extention.
(c) Inflation.
(d) War.

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

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

4. When was Burton G. Malkiel born?
(a) 1932.
(b) 1925.
(c) 1918.
(d) 1907.

5. 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 first?
(a) Poverty.
(b) Total national happiness.
(c) National savings.
(d) Unemployment.

Short Answer Questions

1. According to the author in Chapter 13, some argue that high temperatures and heavy rainfall yield poor food production and and increase in what, therefore limiting a location's ability to create a thriving economy?

2. What is the capital of the Republic of Cuba?

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

4. What does CEO stand for?

5. When did the California Gold Rush begin?

(see the answer key)

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