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

Multiple Choice Questions

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

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

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

4. Who introduced the Hope credit?
(a) Bill Clinton.
(b) Ronald Reagan.
(c) George W. Bush.
(d) John F. Kennedy.

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

Short Answer Questions

1. According to the principles of a market economy, if it's raining, it's time to sell what?

2. Arab members of OPEC alarmed the developed world when they used the "oil weapon" during what war by implementing oil embargoes?

3. Cuba remained a territory of Spain until the Spanish-American War ended in what year?

4. The Hope Scholarship program was shut down after how many years, according to the author?

5. Economists ignored signs of problems in what year because they didn't want to face what might happen in the future, according to the author in the Introduction?

(see the answer key)

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