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

2. According to the author in Chapter 9, to ensure accuracy, the real GDP is a figure that has been adjusted to account for what?
(a) Interest.
(b) Collateral.
(c) Deflation.
(d) Inflation.

3. When did the Korean War begin?
(a) 1931.
(b) 1950.
(c) 1948.
(d) 1959.

4. When did the Korean War end?
(a) 1970.
(b) 1962.
(c) 1953.
(d) 1966.

5. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?
(a) $50,000.
(b) $120,000.
(c) $30,000.
(d) $15,000.

Short Answer Questions

1. What is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market?

2. In economics, what refers to a general slowdown in economic activity?

3. OPEC has maintained its headquarters where since 1965?

4. When did the Cuban Revolution begin?

5. What does OPEC stand for?

(see the answer key)

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