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

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 11-Epilogue.

Multiple Choice Questions

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) Inflation.
(b) War.
(c) Deflation.
(d) Extention.

2. Nonperforming loans and bad investments caused the banks to suffer in Iceland, and by the fall of 2008, how many major banks in the country were defunct according to the author in Chapter 11?
(a) 8.
(b) 12.
(c) 5.
(d) 3.

3. When was Douglas Ivester born?
(a) 1947.
(b) 1939.
(c) 1922.
(d) 1958.

4. 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) Unemployment.
(b) Total national happiness.
(c) National savings.
(d) Poverty.

5. The author writes that trade helps the economy by doing what, in Chapter 12?
(a) Increasing the quality of goods.
(b) Making goods more abundant.
(c) Encouraging sales and special offers.
(d) Lowering the cost of goods for consumers.

Short Answer Questions

1. 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?

2. OPEC is an intergovernmental organization of how many oil-producing countries?

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

4. 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?

5. What does ERM stand for?

(see the answer key)

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