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

Charles Wheelan
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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 11-Epilogue.

Multiple Choice Questions

1. What rhetorical question do economists ask, according to the author in Chapter 1?
(a) "Who smells Detroit?"
(b) "Who feeds Paris?"
(c) "Who sees London?"
(d) "Who hears New York?"

2. In finance, what is a derivative financial instrument that specifies a contract between two parties for a future transaction on an asset at a reference price?
(a) Portfolio.
(b) Option.
(c) Bond.
(d) Trade-off.

3. Who introduced the Hope credit?
(a) Ronald Reagan.
(b) Bill Clinton.
(c) George W. Bush.
(d) John F. Kennedy.

4. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
(a) Corporations.
(b) The government.
(c) Religious institutions.
(d) Nonprofit organizations.

5. Americans today are how many times as rich as an American in the 1940s according to the author in Chapter 9?
(a) 14.
(b) 5.
(c) 10.
(d) 2.

Short Answer Questions

1. In economics, what is a rise in the general level of prices of goods and services in an economy over a period of time?

2. What does CEO stand for?

3. According to the principles of a market economy, if it's raining, it's time to sell what?

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. From 1997 to 2002, Charles Wheelan was the Midwest correspondent for what publication?

(see the answer key)

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