Naked Economics: Undressing the Dismal Science Short Question Test Answer Key

Short Answer Key

Forward - Chapter 3

1. When was Burton G. Malkiel born?

1932.

2. Burton G. Malkiel is an American economist, most famous for what classic finance book?

A Random Walk Down Wall Street.

3. What contends that prices of publicly traded assets reflect all publicly available information?

The efficient market hypothesis.

4. According to Burton G. Malkiel in the Forward, economists often don't show a connection to what?

Everyday life.

5. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?

Predictability.

6. What refers to reasoning which constructs or evaluates deductive arguments?

Deductive reasoning.

7. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?

Trade-off.

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