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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 11-Epilogue.

Multiple Choice Questions

1. When was the Federal Reserve Act enacted?
(a) 1892.
(b) 1913.
(c) 1812.
(d) 1776.

2. What term refers to currency with no international value?
(a) Funny money.
(b) Monopoly money.
(c) Fast cash.
(d) Vouchers.

3. What is a term used in economics that refers to a market process in which "bad" results occur when buyers and sellers have asymmetric information?
(a) Pork barrel.
(b) Gresham's law.
(c) Asset allocation.
(d) Adverse selection.

4. Who introduced the Hope credit?
(a) Ronald Reagan.
(b) George W. Bush.
(c) Bill Clinton.
(d) John F. Kennedy.

5. When did the Great Depression begin in the United States?
(a) 1886.
(b) 1905.
(c) 1918.
(d) 1929.

Short Answer Questions

1. From 1997 to 2002, Charles Wheelan was the Midwest correspondent for what publication?

2. 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?

3. According to the author, financial markets boil down to four basic simple needs. What is the first discussed in Chapter 7?

4. What is an investment position intended to offset potential losses that may be incurred by a companion investment?

5. In economics, what is a good that is non-rival and non-excludable?

(see the answer key)

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