|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 11-Epilogue.
Multiple Choice Questions
1. According to the author in Chapter 13, when it comes to gaining economic power, it's best to avoid what, which depletes resources and limits education?
2. What is a form of tourism involving visiting fragile, pristine, and usually protected areas, intended as a low impact and often small scale alternative to standard commercial tourism?
3. Gary Becker figured that the stock of skills, education, training and an individual's health constitutes about what percent of a modern economy's wealth?
4. Nonperforming loans and bad investments caused the banks to suffer in Iceland, and by the fall of 2008, how many major banks in the country were defunct according to the author in Chapter 11?
5. What are negative results which occur while trying to achieve a goal for the common good?
(a) Unknown incentives.
(b) Ghost incentives.
(c) Perverse incentives.
(d) Abstract incentives.
Short Answer Questions
1. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?
2. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
3. Incomes rose between 1970 and 1999, yet those who described themselves as as "very happy" decreased from 36% to what?
4. Economists ignored signs of problems in what year because they didn't want to face what might happen in the future, according to the author in the Introduction?
5. What is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation?
This section contains 262 words
(approx. 1 page at 300 words per page)