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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. What is the ninth factor one should consider along with the GDP to understand an economy, according to the author in Chapter 9?
(a) Income inequality.
(b) National savings.
(c) Current account surplus/deficit.
(d) Total national happiness.

2. India has a very low GDP per capita, and it also has over how many cases of leprosy according to the author in Chapter 9?
(a) 100,000.
(b) 35,000.
(c) 50,000.
(d) 70,000.

3. The benefit of the HDI in comparison to the GDP is that the GDP does not measure what, according to the author in Chapter 9?
(a) Happiness.
(b) Political unrest.
(c) Productivity.
(d) Inflation.

4. In an insurance policy, what is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses?
(a) Collateral.
(b) Inflation.
(c) Subsidy.
(d) Deductible.

5. What is generally a fungible, negotiable financial instrument representing financial value?
(a) Index fund.
(b) Security.
(c) Portfolio.
(d) Option.

Short Answer Questions

1. When did the Korean War end?

2. What is the sixth factor one should consider along with the GDP according to the author in Chapter 9?

3. What refers to law which has been enacted by a legislature or other governing body, or the process of making it?

4. What is the third simple need of financial markets, as discussed in Chapter 7?

5. Americans today are how many times as rich as an American in the 1940s according to the author in Chapter 9?

(see the answer key)

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