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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-7.

Multiple Choice Questions

1. Michael Jensen is a professor at what university's business school?
(a) Yale University.
(b) Fordham University.
(c) Harvard University.
(d) The University of Chicago.

2. According to the author, there are two lessons to be learned from a monopoly situation. What is the first?
(a) Governments should maintain the financial infrastructure more.
(b) Government shouldn't provide any service that could be covered by the private sector.
(c) Governments should provide more services.
(d) Government shouldn't actually do the work of maintaining infrastructure.

3. The Cuban Revolution deposed what dictator?
(a) Fulgencio Batista.
(b) Fidel Castro.
(c) Roberto Goizueta.
(d) Nicholas Sarkozy.

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?
(a) 1988.
(b) 1993.
(c) 1997.
(d) 2000.

5. What is a political thesis of Kim Il-sung which says that the Korean masses are the masters of the country's development?
(a) Capitalism.
(b) Marxism.
(c) The Juche Idea.
(d) The Communist Manifesto.

Short Answer Questions

1. In finance, what is a standardized contract between two parties to exchange a specified asset of standardized quantity and quality for a price agreed today with delivery occurring at a specified future delivery date?

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

3. Where did politicians try to deal with the level of pollution by limiting driving based on license plate numbers, according to the author in Chapter 2?

4. What represents the original capital paid into or invested in the business by its founders?

5. When did the Korean War begin?

(see the answer key)

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