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

Charles Wheelan
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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

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

2. Cuba remained a territory of Spain until the Spanish-American War ended in what year?
(a) 1862.
(b) 1898.
(c) 1841.
(d) 1913.

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

4. The Cuban Revolution deposed what dictator?
(a) Fulgencio Batista.
(b) Nicholas Sarkozy.
(c) Fidel Castro.
(d) Roberto Goizueta.

5. Burton G. Malkiel is an American economist, most famous for what classic finance book?
(a) The Wall Street MBA: Your Personal Crash Course in Corporate Finance.
(b) The Millionaire Next Door: The Surprising Secrets of America's Wealthy.
(c) Extreme Money: Masters of the Universe and the Cult of Risk.
(d) A Random Walk Down Wall Street.

Short Answer Questions

1. What is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets?

2. What is a collective investment scheme that aims to replicate the movements of an index of a specific financial market regardless of market conditions?

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

4. According to the author in Chapter 7, the basic set of rules and investor should follow is to do what?

5. In Chapter 6, the author discusses poverty and income equality, using the example of what billionaire?

Short Essay Questions

1. How is branding described as an economic strategy in Chapter 5?

2. What is the basic set of rules put forth by the author for those looking to invest in Chapter 7? How are risk and reward described?

3. How does the author describe Douglas Ivester's marketing tactic in Chapter 1?

4. How is information a problem in the healthcare and insurance industries, as discussed in Chapter 5?

5. What investment tactic is recommended for the average investor without much expertise in the market in Chapter 7?

6. What lessons can be learned from a monopoly situation according to the author in Chapter 4?

7. What solution does the author consider for the problem with the black rhinoceros in Chapter 2?

8. How does human capital relate to productivity? How does this in turn reflect the economic well-being of a nation, according to the author in Chapter 6?

9. What are the second through fourth of the basic needs the author boils down for investment markets in Chapter 7?

10. How does the author describe the concept of "trade-offs" in Chapter 1? How do trade-offs apply to individuals and to the economy?

(see the answer keys)

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