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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. Where does the author live and work today?
(a) Minneapolis, Minnesota.
(b) Chicago, Illinois.
(c) Phoenix, Arizona.
(d) San Francisco, California.

2. What is an economic principle that states "Bad money drives out good"?
(a) Gresham's law.
(b) The Juche Idea.
(c) Adverse selection.
(d) The uniform pay scale.

3. What is generally a fungible, negotiable financial instrument representing financial value?
(a) Index fund.
(b) Portfolio.
(c) Option.
(d) Security.

4. In Chapter 13, the author states that according to the United Nations Food and Agriculture Organization, over how many people in this world don't get enough to eat?
(a) 100 million.
(b) 800 million.
(c) 350 million.
(d) 1 billion.

5. In lending agreements, what is a borrower's pledge of specific property to a lender, to secure repayment of a loan?
(a) Interest.
(b) Collateral.
(c) Hedge.
(d) Subsidy.

Short Answer Questions

1. The United Nations Monetary and Financial Conference was commonly known as what?

2. Gary Becker received the United States Presidential Medal of Freedom in what year?

3. What is the economic policy of restraining trade between states through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to allow "fair competition" between imports and goods and services produced domestically?

4. According to the author, there are two lessons to be learned from a monopoly situation. What is the first?

5. What is an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investors risk tolerance, goals and investment time frame?

(see the answer key)

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