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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. According to the author, the Hope Scholarships were a plan wherein students could borrow money for college and pay back their loans after they graduated using what?
(a) Government bonds.
(b) A percentage of their annual income.
(c) Regular debit payments.
(d) Interest free payments.

2. 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) Using their own money.
(c) Paying out interest.
(d) Analyzing risk.

3. 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 first?
(a) Poverty.
(b) Total national happiness.
(c) National savings.
(d) Unemployment.

4. What refers to a currency which is expected to fluctuate erratically or depreciate against other currencies?
(a) Light currency.
(b) Hard currency.
(c) Soft currency.
(d) Dark currency.

5. The author writes that trade helps the economy by doing what, in Chapter 12?
(a) Increasing the quality of goods.
(b) Encouraging sales and special offers.
(c) Making goods more abundant.
(d) Lowering the cost of goods for consumers.

Short Answer Questions

1. Incomes rose between 1970 and 1999, yet those who described themselves as as "very happy" decreased from 36% to what?

2. Cuba remained a territory of Spain until the Spanish-American War ended in what year?

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

4. What is the capital of the Republic of Cuba?

5. OPEC has maintained its headquarters where since 1965?

(see the answer key)

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