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This quiz consists of 5 multiple choice and 5 short answer questions through Forward - Chapter 3.

Multiple Choice Questions

1. Ross Perot ran for President of the United States in what year?
(a) 2002.
(b) 1988.
(c) 2000.
(d) 1992.

2. What is an economic model of price determination in a market that concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers?
(a) Supply and demand.
(b) Adverse selection.
(c) Money market.
(d) Floating exchange rate.

3. Douglas Ivester was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?
(a) Ronald Coase.
(b) Mark Miringhoff.
(c) Roberto Goizueta.
(d) George Stigler.

4. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) World domination.
(b) Freedom for the German people.
(c) Reinstitution of Communism.
(d) Brand recognition.

5. What are negative results which occur while trying to achieve a goal for the common good?
(a) Perverse incentives.
(b) Unknown incentives.
(c) Ghost incentives.
(d) Abstract incentives.

Short Answer Questions

1. 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?

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

3. The horns of the black rhinoceros are used to make what for the Yemenese people, according to the author in Chapter 2?

4. When did Ross Perot found Electronic Data Systems?

5. In what year did Douglas Ivester tell his sales team to pass free Coca-Cola around as the Berlin Wall toppled?

(see the answer key)

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