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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 refers to law which has been enacted by a legislature or other governing body, or the process of making it?
(a) Trade-off.
(b) Legislation.
(c) Gresham's law.
(d) Hedge.

2. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) Brand recognition.
(b) Reinstitution of Communism.
(c) Freedom for the German people.
(d) World domination.

3. According to the author, there are two lessons to be learned from a monopoly situation. What is the first?
(a) Governments should maintain the financial infrastructure more.
(b) Government shouldn't actually do the work of maintaining infrastructure.
(c) Governments should provide more services.
(d) Government shouldn't provide any service that could be covered by the private sector.

4. In economics and sociology, what refers to any factor that enables or motivates a particular course of action or counts as a reason for preferring one choice to the alternatives?
(a) Punishment.
(b) Incentive.
(c) Barrier.
(d) Belief.

5. In an insurance policy, what is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses?
(a) Inflation.
(b) Collateral.
(c) Deductible.
(d) Subsidy.

Short Answer Questions

1. The Hope Scholarship program was shut down after how many years, according to the author?

2. What refers to the increasingly global relationships of culture, people and economic activity?

3. When was the Federal Reserve Act enacted?

4. Charles Wheelan graduated from what educational institution?

5. Mark Miringhoff is a social science professor at what institution?

(see the answer key)

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