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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 11-Epilogue.

Multiple Choice Questions

1. 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 fifth?
(a) Budget deficit/surplus.
(b) Income inequality.
(c) Poverty.
(d) Demographics.

2. What is the capital of the Republic of Cuba?
(a) Tijuana.
(b) Havana.
(c) Miami.
(d) Kingston.

3. Gary Becker is a professor of economics, sociology at what institution?
(a) The University of Montana.
(b) Harvard University.
(c) The University of Chicago.
(d) Fordham University.

4. The delegates at the United Nations Monetary and Financial Conference created the World Bank, which is owned by how many member countries?
(a) 183.
(b) 85.
(c) 59.
(d) 114.

5. What rhetorical question do economists ask, according to the author in Chapter 1?
(a) "Who sees London?"
(b) "Who feeds Paris?"
(c) "Who hears New York?"
(d) "Who smells Detroit?"

Short Answer Questions

1. When did the California Gold Rush begin?

2. According to the author in Chapter 9, to ensure accuracy, the real GDP is a figure that has been adjusted to account for what?

3. When was the Federal Reserve Act enacted?

4. According to the author, financial markets boil down to four basic simple needs. What is the first discussed in Chapter 7?

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

(see the answer key)

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