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. With uniform rules and regulations, the cost of doing business in the private sector is what, according to the author in Chapter 3?
(a) Prohibitive.
(b) Raised.
(c) Lowered.
(d) Maintained.

2. What does OPEC stand for?
(a) Original Plan Excluding Copyright.
(b) Oil and Petroleum Exclusion Clause.
(c) Organization of Petroleum Exporting Countries.
(d) Oval Palace Executive Class.

3. 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) The government.
(b) Nonprofit organizations.
(c) Corporations.
(d) Religious institutions.

4. North Korea is a single-party state under a united front led by what party?
(a) The Korean Workers' Party.
(b) The Communist Party.
(c) The Korean Entitlement Party.
(d) The Democratic Party.

5. According to the author, the Hope Scholarships were a plan wherein students could borrow money for college and pay back their loans after they graduated using what?
(a) Regular debit payments.
(b) Interest free payments.
(c) A percentage of their annual income.
(d) Government bonds.

Short Answer Questions

1. 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?

2. According to the author in Chapter 2, the average annual income is what in the location where black rhinoceros horns are worth much on the black market?

3. What is an economic model of price determination in a market that concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers?

4. When did Ross Perot found Electronic Data Systems?

5. In France, what president wanted to come up with a way to measure human happiness, as described in Chapter 9?

(see the answer key)

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