|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. Who introduced the Hope credit?
(a) Bill Clinton.
(b) George W. Bush.
(c) John F. Kennedy.
(d) Ronald Reagan.
2. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?
3. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) Freedom for the German people.
(b) Brand recognition.
(c) Reinstitution of Communism.
(d) World domination.
4. Behavioral economics intertwine economics and what?
5. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?
6. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?
7. When was the Hope credit established?
8. When was Douglas Ivester born?
9. Gary Becker received the United States Presidential Medal of Freedom in what year?
10. Arab members of OPEC alarmed the developed world when they used the "oil weapon" during what war by implementing oil embargoes?
(a) The Yom Kippur War.
(b) The Jerusalem War.
(c) The Gaza War.
(d) The Torah War.
11. What is the capital of the Republic of Cuba?
12. What is a political thesis of Kim Il-sung which says that the Korean masses are the masters of the country's development?
(b) The Communist Manifesto.
(c) The Juche Idea.
13. When did the Cuban Revolution begin?
14. When was Gary Becker born?
15. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?
(a) Most wealthy.
(b) Most productive.
(c) Least wealthy.
(d) Least productive.
Short Answer Questions
1. Who led the Cuban Revolution?
2. Ross Perot ran for President of the United States in what year?
3. In economics, what is a good that is non-rival and non-excludable?
4. What rhetorical question do economists ask, according to the author in Chapter 1?
5. According to the author in Chapter 1, companies want to profit, and consumers want what?
This section contains 346 words
(approx. 2 pages at 300 words per page)