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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. Human capital is extremely important in economics because it is also tied together with what?
(a) Security.
(b) Productivity.
(c) Collateral.
(d) Inflation.

2. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?
(a) $7.
(b) $11.
(c) $4.
(d) $2.

3. In finance, what is a derivative financial instrument that specifies a contract between two parties for a future transaction on an asset at a reference price?
(a) Portfolio.
(b) Bond.
(c) Trade-off.
(d) Option.

4. What refers to law which has been enacted by a legislature or other governing body, or the process of making it?
(a) Legislation.
(b) Trade-off.
(c) Hedge.
(d) Gresham's law.

5. 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?
(a) Poverty.
(b) National savings.
(c) Income inequality.
(d) Demographics.

Short Answer Questions

1. North Korea is a single-party state under a united front led by what party?

2. When did the Korean War begin?

3. What, according to the author, motivates talented teachers to leave to go onto other professions?

4. What is the capital of the Republic of Cuba?

5. Who gave out free medication in order to help the fight against leprosy, according to the author in Chapter 9?

(see the answer key)

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