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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 is the process of contracting a business function to someone else?
(a) Motivation.
(b) Managing.
(c) Outsourcing.
(d) Investing.

2. What describes the extent to which time or effort is well used for the intended task or purpose?
(a) Reliability.
(b) Proximity.
(c) Efficiency.
(d) Intention.

3. What is an assistance paid to a business or economic sector?
(a) Derivative.
(b) Subsidy.
(c) Collateral.
(d) Interest.

4. What is generally the principled guide to action taken by the administrative or executive branches of the state with regard to a class of issues in a manner consistent with law and institutional customs?
(a) Public policy.
(b) Pork barrel.
(c) Deductive reasoning.
(d) Perverse incentives.

5. The Lehman Brothers bank problem in 2008 occurred because the banks weren't what, according to the author?
(a) Keeping enough money on hand.
(b) Analyzing risk.
(c) Using their own money.
(d) Paying out interest.

Short Answer Questions

1. Where does the author live and work today?

2. What, as defined by the International Labour Organization, occurs when people are without jobs and they have actively sought work within the past four weeks?

3. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?

4. 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?

5. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the eighth?

(see the answer key)

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