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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.

Multiple Choice Questions

1. According to the principles of a market economy, if it's raining, it's time to sell what?
(a) Umbrellas.
(b) Houses.
(c) Boats.
(d) Loans.

2. According to the author, the Hope Scholarships were a plan wherein students could borrow money for college and pay back their loans after they graduated using what?
(a) Regular debit payments.
(b) Government bonds.
(c) Interest free payments.
(d) A percentage of their annual income.

3. What is the third simple need of financial markets, as discussed in Chapter 7?
(a) Speculation.
(b) Raising capital.
(c) Storing, protecting and making profitable use of excess capital.
(d) Insuring against risk.

4. 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) Foreign Exchange Market.
(b) Asset allocation.
(c) Mutual fund.
(d) Index fund.

5. What does OPEC stand for?
(a) Oil and Petroleum Exclusion Clause.
(b) Oval Palace Executive Class.
(c) Original Plan Excluding Copyright.
(d) Organization of Petroleum Exporting Countries.

Short Answer Questions

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

2. Human capital is extremely important in economics because it is also tied together with what?

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

4. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the seventh?

5. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?

(see the answer key)

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