Naked Economics: Undressing the Dismal Science Quiz | Eight Week Quiz G

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. In finance, what is a debt security in which the authorized issuer owes the holders a debt and, depending on the terms, is obliged to pay interest to use and/or to repay the principal at a later date?
(a) Bond.
(b) Deductible.
(c) Option.
(d) Stock.

2. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?
(a) $11.
(b) $7.
(c) $4.
(d) $2.

3. When was the Hope credit established?
(a) 1974.
(b) 1992.
(c) 1999.
(d) 1985.

4. When did the Cuban Revolution begin?
(a) 1972.
(b) 1934.
(c) 1953.
(d) 1965.

5. According to the author in Chapter 11, the problem with this gold standard was the central bank could do what?
(a) Manipulate exchange rates.
(b) Devalue the currency.
(c) Charge interest.
(d) Require collateral.

Short Answer Questions

1. What describes the extent to which time or effort is well used for the intended task or purpose?

2. In finance, what between two currencies is the rate at which one currency will be exchanged for another?

3. According to the author, there are two lessons to be learned from a monopoly situation. What is the second?

4. In 1900, the average wage was how much per hour according to the author in Chapter 9?

5. What is an economic principle that states "Bad money drives out good"?

(see the answer key)

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