|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 11-Epilogue.
Multiple Choice Questions
1. What is an economic principle that states "Bad money drives out good"?
(a) Gresham's law.
(b) The Juche Idea.
(c) Adverse selection.
(d) The uniform pay scale.
2. According to the author in Chapter 11, the problem with this gold standard was the central bank could do what?
(a) Charge interest.
(b) Devalue the currency.
(c) Require collateral.
(d) Manipulate exchange rates.
3. What is the sixth factor one should consider along with the GDP according to the author in Chapter 9?
(a) National savings.
(b) Current account surplus/deficit.
(c) Total national happiness.
(d) Income inequality.
4. OPEC has maintained its headquarters where since 1965?
5. The United Nations Monetary and Financial Conference was a gathering of how many delegates?
Short Answer Questions
1. What refers to a market where prices are determined by supply and demand?
2. When was the Federal Reserve Act enacted?
3. In the Epilogue, the author discusses seven issues used to understand and improve the world. What is the third?
4. According to the author in Chapter 13, some argue that high temperatures and heavy rainfall yield poor food production and and increase in what, therefore limiting a location's ability to create a thriving economy?
5. What term refers to currency with no international value?
This section contains 220 words
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