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

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.

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

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.
Buy the Naked Economics: Undressing the Dismal Science Lesson Plans
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. In what year did the French government try to address its unemployment rates with what the author calls the economic equivalent of fool's gold?
(a) 1993.
(b) 2000.
(c) 1988.
(d) 1997.

2. What represents the original capital paid into or invested in the business by its founders?
(a) Stock.
(b) Bond.
(c) Collateral.
(d) Pork barrel.

3. What is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets?
(a) Interest.
(b) Derivative.
(c) Subsidy.
(d) Deductible.

4. Behavioral economics intertwine economics and what?
(a) Religion.
(b) Geometry.
(c) Psychology.
(d) Geography.

5. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?
(a) Least productive.
(b) Least wealthy.
(c) Most productive.
(d) Most wealthy.

6. According to the author in Chapter 1, companies want to profit, and consumers want what?
(a) Education.
(b) Results.
(c) Satisfaction.
(d) Safety.

7. According to the author in Chapter 2, the average annual income is what in the location where black rhinoceros horns are worth much on the black market?
(a) $2,500.
(b) $1,000.
(c) $8,700.
(d) $6,000.

8. When did the Korean War begin?
(a) 1948.
(b) 1959.
(c) 1950.
(d) 1931.

9. What contends that prices of publicly traded assets reflect all publicly available information?
(a) The uniform pay scale.
(b) The efficient market hypothesis.
(c) Supply and demand.
(d) Adverse selection.

10. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?
(a) Index.
(b) Security.
(c) Predictability.
(d) Recession.

11. Michael Jensen refers to company stock options as what in Chapter 2?
(a) "Managerial heroin."
(b) "A trough of money."
(c) "Cocaine for businessmen."
(d) "Wall Streets marijuana."

12. When was Burton G. Malkiel born?
(a) 1907.
(b) 1932.
(c) 1918.
(d) 1925.

13. What is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities?
(a) Index fund.
(b) Mutual fund.
(c) Foreign Exchange Market.
(d) Asset allocation.

14. When was Gary Becker born?
(a) 1922.
(b) 1930.
(c) 1945.
(d) 1956.

15. In economics and sociology, what refers to any factor that enables or motivates a particular course of action or counts as a reason for preferring one choice to the alternatives?
(a) Punishment.
(b) Incentive.
(c) Belief.
(d) Barrier.

Short Answer Questions

1. What is a political thesis of Kim Il-sung which says that the Korean masses are the masters of the country's development?

2. Who introduced the Hope credit?

3. What is a mathematical equation for an unknown function of one or several variables that relates the values of the function itself and its derivatives of various orders?

4. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?

5. When did the Korean War end?

(see the answer keys)

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