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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. OPEC has maintained its headquarters where since 1965?
(a) Vienna.
(b) Sydney.
(c) Toronto.
(d) Havana.

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

3. What refers to a market where prices are determined by supply and demand?
(a) Free market.
(b) Influx market.
(c) Controlled market.
(d) Random market.

4. What publication commented on the French president's desire to come up with a way to measure human happiness, saying that it's like asking experts to put a number on spiritual matters?
(a) The Economist.
(b) The Economic Times.
(c) Investors Business Daily.
(d) The Wall Street Journal.

5. What, according to the author, motivates talented teachers to leave to go onto other professions?
(a) The uniform pay scale.
(b) Supply and demand.
(c) Capitalism.
(d) Legislation.

Short Answer Questions

1. With uniform rules and regulations, the cost of doing business in the private sector is what, according to the author in Chapter 3?

2. When did the Great Depression begin in the United States?

3. When did President Jefferson suspend the minting of silver coins in the U.S.?

4. According to the author in Chapter 11, the problem with this gold standard was the central bank could do what?

5. Human capital is extremely important in economics because it is also tied together with what?

(see the answer key)

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