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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. What is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames?
(a) Mutual fund.
(b) Money market.
(c) Floating exchange rate.
(d) Index fund.

2. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?
(a) Trade-off.
(b) Per capita.
(c) Legislation.
(d) Adverse selection.

3. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?
(a) 1992.
(b) 2003.
(c) 1997.
(d) 1988.

4. What is the ninth factor one should consider along with the GDP to understand an economy, according to the author in Chapter 9?
(a) National savings.
(b) Income inequality.
(c) Total national happiness.
(d) Current account surplus/deficit.

5. In what year did Douglas Ivester tell his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) 1969.
(b) 1977.
(c) 1982.
(d) 1989.

Short Answer Questions

1. What is a Latin prepositional phrase meaning "by heads"?

2. What rhetorical question do economists ask, according to the author in Chapter 1?

3. What refers to the increasingly global relationships of culture, people and economic activity?

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

5. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?

(see the answer key)

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