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

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

3. In the Epilogue, the author discusses seven issues used to understand and improve the world. What is the third?
(a) The divide between the rich and the poor.
(b) Maximizing utility.
(c) Productivity.
(d) The market.

4. According to the author in Chapter 11, the problem with this gold standard was the central bank could do what?
(a) Require collateral.
(b) Manipulate exchange rates.
(c) Charge interest.
(d) Devalue the currency.

5. What does OPEC stand for?
(a) Original Plan Excluding Copyright.
(b) Organization of Petroleum Exporting Countries.
(c) Oval Palace Executive Class.
(d) Oil and Petroleum Exclusion Clause.

Short Answer Questions

1. In economics, what is a rise in the general level of prices of goods and services in an economy over a period of time?

2. According to the author in Chapter 2, the average annual income is what in the location where black rhinoceros horns are worth much on the black market?

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

4. Who led the Cuban Revolution?

5. 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?

(see the answer key)

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