|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 11-Epilogue.
Multiple Choice Questions
1. What are negative results which occur while trying to achieve a goal for the common good?
(a) Perverse incentives.
(b) Abstract incentives.
(c) Ghost incentives.
(d) Unknown incentives.
2. What does ERM stand for?
(a) Electronic Remanufacturing Market.
(b) Environmental Rarity Market.
(c) European Exchange Rate Mechanism.
(d) Education Resource Mechanism.
3. What is an assistance paid to a business or economic sector?
4. What does IMF stand for?
(a) Insecure Management Fund.
(b) Internal Military Fund.
(c) Insightful Money Framework.
(d) International Monetary Fund.
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?
Short Answer Questions
1. In many countries, the negative effects of the Great Depression lasted until the start of what?
2. What is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties?
3. According to Burton G. Malkiel in the Forward, economists often don't show a connection to what?
4. What is generally the principled guide to action taken by the administrative or executive branches of the state with regard to a class of issues in a manner consistent with law and institutional customs?
5. The GDP does not consider economic activity that is what, according to the author in Chapter 9?
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