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. The U.S. Treasury began doing business only in gold or silver coin as part of the Independent Treasury Act of what year?
(a) 1875.
(b) 1848.
(c) 1822.
(d) 1883.

2. What refers to a market where prices are determined by supply and demand?
(a) Controlled market.
(b) Free market.
(c) Influx market.
(d) Random market.

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

4. In economics, what is a good that is non-rival and non-excludable?
(a) A government good.
(b) A corporate good.
(c) A public good.
(d) A private good.

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

Short Answer Questions

1. Americans today are how many times as rich as an American in the 1940s according to the author in Chapter 9?

2. In the Epilogue, the author discusses seven issues used to understand and improve the world. What is the second?

3. What is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames?

4. Gary Becker received the United States Presidential Medal of Freedom in what year?

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?

(see the answer key)

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