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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-7.

Multiple Choice Questions

1. When did the Korean War begin?
(a) 1959.
(b) 1931.
(c) 1950.
(d) 1948.

2. Michael Jensen refers to company stock options as what in Chapter 2?
(a) "Managerial heroin."
(b) "A trough of money."
(c) "Cocaine for businessmen."
(d) "Wall Streets marijuana."

3. 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) Government bonds.
(b) Regular debit payments.
(c) Interest free payments.
(d) A percentage of their annual income.

4. OPEC has maintained its headquarters where since 1965?
(a) Vienna.
(b) Toronto.
(c) Sydney.
(d) Havana.

5. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?
(a) Per capita.
(b) Adverse selection.
(c) Trade-off.
(d) Legislation.

Short Answer Questions

1. What contends that prices of publicly traded assets reflect all publicly available information?

2. What is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties?

3. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?

4. According to the author in Chapter 1, companies want to profit, and consumers want what?

5. According to Burton G. Malkiel in the Forward, economists often don't show a connection to what?

(see the answer key)

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