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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. Economists ignored signs of problems in what year because they didn't want to face what might happen in the future, according to the author in the Introduction?
(a) 2005.
(b) 1998.
(c) 2002.
(d) 1994.

2. What does GDP stand for?
(a) Gross Domestic Product.
(b) Gems and Diamonds Per capita.
(c) Geographic Diversity Plot.
(d) Gain and Drain Portfolio.

3. What, in economics, refers to a globally traded currency that is expected to serve as a reliable and stable store of value?
(a) Light currency.
(b) Dark currency.
(c) Hard currency.
(d) Soft currency.

4. When did the United Nations Monetary and Financial Conference take place?
(a) 1944.
(b) 1932.
(c) 1970.
(d) 1961.

5. In economics and sociology, what refers to any factor that enables or motivates a particular course of action or counts as a reason for preferring one choice to the alternatives?
(a) Belief.
(b) Barrier.
(c) Punishment.
(d) Incentive.

Short Answer Questions

1. What, according to the author, motivates talented teachers to leave to go onto other professions?

2. India has a very low GDP per capita, and it also has over how many cases of leprosy according to the author in Chapter 9?

3. In economics, what is a rise in the general level of prices of goods and services in an economy over a period of time?

4. Economists call the cycle of recession and recovery what, according to the author in Chapter 9?

5. What is the fourth simple need of financial markets, as discussed in Chapter 7?

(see the answer key)

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