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

Multiple Choice Questions

1. When did Ross Perot found Electronic Data Systems?
(a) 1971.
(b) 1977.
(c) 1955.
(d) 1962.

2. What, according to the author, motivates talented teachers to leave to go onto other professions?
(a) Legislation.
(b) The uniform pay scale.
(c) Supply and demand.
(d) Capitalism.

3. The Lehman Brothers bank problem in 2008 occurred because the banks weren't what, according to the author?
(a) Analyzing risk.
(b) Keeping enough money on hand.
(c) Paying out interest.
(d) Using their own money.

4. The horns of the black rhinoceros are used to make what for the Yemenese people, according to the author in Chapter 2?
(a) Daggers.
(b) Paperweights.
(c) Funnels.
(d) Necklaces.

5. 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?
(a) Money market.
(b) Communism.
(c) Asset allocation.
(d) Capitalism.

Short Answer Questions

1. What refers to a market where prices are determined by supply and demand?

2. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?

3. A market economy delegates resources to an area where they are what, according to the author in Chapter 1?

4. 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?

5. Ross Perot ran for President of the United States in what year?

(see the answer key)

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