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

Multiple Choice Questions

1. According to Burton G. Malkiel in the Forward, economists often don't show a connection to what?
(a) Mathematics.
(b) Everyday life.
(c) Wall Street.
(d) Statistics.

2. 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) Reinstitution of Communism.
(b) World domination.
(c) Brand recognition.
(d) Freedom for the German people.

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

4. What country withdrew from OPEC in 2008 after it became a net importer of oil?
(a) Mexico.
(b) The United States.
(c) Indonesia.
(d) Egypt.

5. 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) 1997.
(b) 1993.
(c) 1988.
(d) 2000.

Short Answer Questions

1. When was Gary Becker born?

2. What is the capital of the Republic of Cuba?

3. Gary Becker figured that the stock of skills, education, training and an individual's health constitutes about what percent of a modern economy's wealth?

4. When did the Korean War end?

5. What is the fourth simple need of financial markets, as discussed in Chapter 7?

(see the answer key)

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