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 refers to law which has been enacted by a legislature or other governing body, or the process of making it?
(a) Legislation.
(b) Hedge.
(c) Gresham's law.
(d) Trade-off.

2. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?
(a) Legislation.
(b) Per capita.
(c) Adverse selection.
(d) Trade-off.

3. When did the Great Depression begin in the United States?
(a) 1886.
(b) 1929.
(c) 1918.
(d) 1905.

4. According to Burton G. Malkiel in the Forward, economists often don't show a connection to what?
(a) Everyday life.
(b) Statistics.
(c) Mathematics.
(d) Wall Street.

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?
(a) 1993.
(b) 1997.
(c) 1988.
(d) 2000.

Short Answer Questions

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

2. What, in economics, refers to a globally traded currency that is expected to serve as a reliable and stable store of value?

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

4. The horns of the black rhinoceros are used to make what for the Yemenese people, according to the author in Chapter 2?

5. Mark Miringhoff believes the nation should have what, as described in Chapter 9?

(see the answer key)

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