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This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 2.

Multiple Choice Questions

1. Informational asymmetry indicates the use of information for what?
(a) Bettering of a culture.
(b) Accumulation of power.
(c) Monetary profit.
(d) Leveling of society.

2. Which of the following is not a public figure that the author mentions as a wealthy man purchasing public office?
(a) Ross Perot.
(b) Jon Corzine.
(c) Arnold Schwarzenegger.
(d) Mike Bloomberg.

3. When do 7-7 sumo wrestlers begin losing matches most often?
(a) When they are wrestling friends or mentors.
(b) When they near the age of retirement.
(c) When allegations of cheating are made.
(d) When a league official is present.

4. Which of the following real estate terms indicates that a home buyer should bid low?
(a) Maple.
(b) Corian.
(c) Fantastic.
(d) State-of-the-art.

5. What is the average annual salary of a bottom-tier sumo wrestler?
(a) $30,000.
(b) $15,000.
(c) $65,000.
(d) $100,000.

Short Answer Questions

1. In 1987, why did many people stop claiming fake children on their tax returns?

2. How many times a year are elite sumo tournaments held?

3. Paul Feldman makes his living delivering what to offices?

4. In what year did the Chicago Public School system begin widespread standardized testing?

5. What comedic Hollywood icon does Levitt quote regarding honesty in this chapter?

(see the answer key)

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