1. In what year did the French government try to address its unemployment rates with what the author calls the economic equivalent of fool's gold?
(a) 2000.
(b) 1988.
(c) 1993.
(d) 1997.

2. In economics and sociology, what refers to any factor that enables or motivates a particular course of action or counts as a reason for preferring one choice to the alternatives?
(a) Punishment.
(b) Belief.
(c) Incentive.
(d) Barrier.

3. With uniform rules and regulations, the cost of doing business in the private sector is what, according to the author in Chapter 3?
(a) Prohibitive.
(b) Maintained.
(c) Lowered.
(d) Raised.

4. 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?
(a) 2002.
(b) 2005.
(c) 1998.
(d) 1994.

5. In Chapter 2, the author discusses how the black rhinoceros is nearly extinct and that the horns are considered what?
(a) A poison.
(b) An evil potion.
(c) An aphrodesiac.
(d) An alkaloid.

Short Answer Questions

1. What does the author refer to as a situation where individuals work in their own best interest, leading to an improved standard of living for society in general?

2. When did Ross Perot found Electronic Data Systems?

3. OPEC has maintained its headquarters where since 1965?

4. What contends that prices of publicly traded assets reflect all publicly available information?

5. What describes the extent to which time or effort is well used for the intended task or purpose?

(see the answer key)

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