Naked Economics: Undressing the Dismal Science Test | Mid-Book Test - Easy

Mid-Book Test (up to Chapters 4-7)

This test consists of 15 multiple choice and 5 short answer questions.

Multiple Choice Questions

Directions: Circle the correct answer.

1. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?
a) $120,000.
b) $50,000.
c) $15,000.
d) $30,000.

2. What is an investment position intended to offset potential losses that may be incurred by a companion investment?
a) Deductible.
b) Hedge.
c) Bond.
d) Futures contract.

3. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?
a) 1992.
b) 1988.
c) 2003.
d) 1997.

4. What, according to the author, motivates talented teachers to leave to go onto other professions?
a) Legislation.
b) Supply and demand.
c) The uniform pay scale.
d) Capitalism.

5. Ross Perot ran for...
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