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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. In Chapter 6, the author discusses poverty and income equality, using the example of what billionaire?
(a) Fidel Castro.
(b) Donald Trump.
(c) Bill Gates.
(d) Ted Turner.

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

3. When was the first edition of "Naked Economics: Undressing the Dismal Science" published?
(a) 1995.
(b) 1997.
(c) 2002.
(d) 2006.

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

5. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?
(a) Adverse selection.
(b) Legislation.
(c) Trade-off.
(d) Per capita.

Short Answer Questions

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

2. What does ERM stand for?

3. The U.S. Treasury began doing business only in gold or silver coin as part of the Independent Treasury Act of what year?

4. OPEC is an intergovernmental organization of how many oil-producing countries?

5. What does HDI stand for?

(see the answer key)

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