View a FREE sample

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 in Chapter 9, to ensure accuracy, the real GDP is a figure that has been adjusted to account for what?
(a) Collateral.
(b) Deflation.
(c) Interest.
(d) Inflation.

2. The Chinese GDP has grown substantially over the past decade, yet its success is correlated to what, according to the author in Chapter 9?
(a) Utility costs.
(b) Quality of life.
(c) Environmental degradation.
(d) Interest payments.

3. What term refers to currency with no international value?
(a) Vouchers.
(b) Fast cash.
(c) Funny money.
(d) Monopoly money.

4. Nonperforming loans and bad investments caused the banks to suffer in Iceland, and by the fall of 2008, how many major banks in the country were defunct according to the author in Chapter 11?
(a) 12.
(b) 8.
(c) 5.
(d) 3.

5. The delegates at the United Nations Monetary and Financial Conference created the World Bank, which is owned by how many member countries?
(a) 59.
(b) 183.
(c) 85.
(d) 114.

Short Answer Questions

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

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

3. In economics, what is a sustained, long-term downturn in economic activity in one or more economies?

4. According to the author in Chapter 1, companies want to profit, and consumers want what?

5. 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?

(see the answer key)

This section contains 265 words (approx. 1 page at 300 words per page) View a FREE sample