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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.

Multiple Choice Questions

1. In finance, what is a debt security in which the authorized issuer owes the holders a debt and, depending on the terms, is obliged to pay interest to use and/or to repay the principal at a later date?
(a) Option.
(b) Deductible.
(c) Bond.
(d) Stock.

2. What is the third simple need of financial markets, as discussed in Chapter 7?
(a) Raising capital.
(b) Insuring against risk.
(c) Speculation.
(d) Storing, protecting and making profitable use of excess capital.

3. According to the author, financial markets boil down to four basic simple needs. What is the second discussed in Chapter 7?
(a) Insuring against risk.
(b) Storing, protecting and making profitable use of excess capital.
(c) Raising capital.
(d) Speculation.

4. What is the capital of the Democratic People's Republic of Korea?
(a) Honk Kong.
(b) Beijing.
(c) Osaka.
(d) Pyongyang.

5. What is a Latin prepositional phrase meaning "by heads"?
(a) E Pluribus Unum.
(b) Per capita.
(c) Et cetera.
(d) In Unum.

Short Answer Questions

1. Mark Miringhoff is a social science professor at what institution?

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

3. With uniform rules and regulations, the cost of doing business in the private sector is what, according to the author in Chapter 3?

4. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?

5. What is generally the principled guide to action taken by the administrative or executive branches of the state with regard to a class of issues in a manner consistent with law and institutional customs?

(see the answer key)

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