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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 generally the principled guide to action taken by the administrative or executive branches of the state with regard to a class of issues in a manner consistent with law and institutional customs?
(a) Pork barrel.
(b) Perverse incentives.
(c) Public policy.
(d) Deductive reasoning.

2. Who led the Cuban Revolution?
(a) Nicholas Sarkozy.
(b) Fidel Castro.
(c) Fulgencio Batista.
(d) Roberto Goizueta.

3. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?
(a) $30,000.
(b) $50,000.
(c) $120,000.
(d) $15,000.

4. According to the author in Chapter 9, to ensure accuracy, the real GDP is a figure that has been adjusted to account for what?
(a) Deflation.
(b) Inflation.
(c) Collateral.
(d) Interest.

5. In finance, what is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today with delivery occurring at a specified future delivery date?
(a) Supply and demand.
(b) Asset allocation.
(c) Business cycle.
(d) Futures contract.

Short Answer Questions

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

2. Burton G. Malkiel is an American economist, most famous for what classic finance book?

3. Behavioral economics intertwine economics and what?

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 second?

5. What is the appropriation of government spending for localized projects secured solely or primarily to bring money to a representative's district?

(see the answer key)

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