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 is the third simple need of financial markets, as discussed in Chapter 7?
(a) Storing, protecting and making profitable use of excess capital.
(b) Speculation.
(c) Raising capital.
(d) Insuring against risk.

2. In Chapter 6, the author discusses poverty and income equality, using the example of what billionaire?
(a) Fidel Castro.
(b) Donald Trump.
(c) Ted Turner.
(d) Bill Gates.

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

4. OPEC is an intergovernmental organization of how many oil-producing countries?
(a) 23.
(b) 8.
(c) 5.
(d) 12.

5. When did the Korean War begin?
(a) 1959.
(b) 1948.
(c) 1931.
(d) 1950.

Short Answer Questions

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

2. The GDP does not consider economic activity that is what, according to the author in Chapter 9?

3. According to the author, financial markets boil down to four basic simple needs. What is the first discussed in Chapter 7?

4. What does CEO stand for?

5. 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?

(see the answer key)

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