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

Multiple Choice Questions

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

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

3. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
(a) Corporations.
(b) Nonprofit organizations.
(c) The government.
(d) Religious institutions.

4. When was the Hope credit established?
(a) 1974.
(b) 1985.
(c) 1999.
(d) 1992.

5. What is a professionally managed type of collective investment scheme that pools money from many investors to buy stocks, bonds, short-term money market instruments, and/or other securities?
(a) Index fund.
(b) Foreign Exchange Market.
(c) Asset allocation.
(d) Mutual fund.

Short Answer Questions

1. What is a form of tourism involving visiting fragile, pristine, and usually protected areas, intended as a low impact and often small scale alternative to standard commercial tourism?

2. What are negative results which occur while trying to achieve a goal for the common good?

3. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?

4. What is a mathematical equation for an unknown function of one or several variables that relates the values of the function itself and its derivatives of various orders?

5. According to the principles of a market economy, if it's raining, it's time to sell what?

(see the answer key)

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