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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. According to the author, insurance companies want to save money while doctors want to help patients and avoid what?
(a) Spreading diseases.
(b) Unnecessary fatalities.
(c) Losing their medical license.
(d) Getting sued.

2. What refers to reasoning which constructs or evaluates deductive arguments?
(a) Decisive reasoning.
(b) Critical reasoning.
(c) Deductive reasoning.
(d) Constructive reasoning.

3. What rhetorical question do economists ask, according to the author in Chapter 1?
(a) "Who feeds Paris?"
(b) "Who sees London?"
(c) "Who hears New York?"
(d) "Who smells Detroit?"

4. Americans today are how many times as rich as an American in the 1940s according to the author in Chapter 9?
(a) 10.
(b) 14.
(c) 2.
(d) 5.

5. What refers to a market where prices are determined by supply and demand?
(a) Random market.
(b) Influx market.
(c) Controlled market.
(d) Free market.

Short Answer Questions

1. 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?

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

3. When did the United Nations Monetary and Financial Conference take place?

4. What country withdrew from OPEC in 2008 after it became a net importer of oil?

5. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?

(see the answer key)

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