View a FREE sample

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

Multiple Choice Questions

1. The author writes that trade helps the economy by doing what, in Chapter 12?
(a) Increasing the quality of goods.
(b) Lowering the cost of goods for consumers.
(c) Making goods more abundant.
(d) Encouraging sales and special offers.

2. What is generally the principled guide to action taken by the administrative or executive branches of the state with regard to a class of issues in a manner consistent with law and institutional customs?
(a) Public policy.
(b) Deductive reasoning.
(c) Perverse incentives.
(d) Pork barrel.

3. In lending agreements, what is a borrower's pledge of specific property to a lender, to secure repayment of a loan?
(a) Subsidy.
(b) Interest.
(c) Collateral.
(d) Hedge.

4. What, in economics, refers to a globally traded currency that is expected to serve as a reliable and stable store of value?
(a) Soft currency.
(b) Light currency.
(c) Dark currency.
(d) Hard currency.

5. What is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames?
(a) Floating exchange rate.
(b) Money market.
(c) Mutual fund.
(d) Index fund.

Short Answer Questions

1. What publication commented on the French president's desire to come up with a way to measure human happiness, saying that it's like asking experts to put a number on spiritual matters?

2. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?

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

4. In Chapter 13, the author states that according to the United Nations Food and Agriculture Organization, over how many people in this world don't get enough to eat?

5. What refers to a currency which is expected to fluctuate erratically or depreciate against other currencies?

(see the answer key)

This section contains 310 words (approx. 2 pages at 300 words per page) View a FREE sample