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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. When was the Hope credit established?
(a) 1974.
(b) 1992.
(c) 1985.
(d) 1999.

2. When was Douglas Ivester born?
(a) 1947.
(b) 1922.
(c) 1958.
(d) 1939.

3. Douglas Ivester was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?
(a) Mark Miringhoff.
(b) Ronald Coase.
(c) Roberto Goizueta.
(d) George Stigler.

4. Who led the Cuban Revolution?
(a) Fidel Castro.
(b) Roberto Goizueta.
(c) Nicholas Sarkozy.
(d) Fulgencio Batista.

5. According to the author in Chapter 7, the basic set of rules and investor should follow is to do what?
(a) Save, invest, and repeat.
(b) Research, invest, watch.
(c) Invest, watch, sell.
(d) Research, fact check, invest.

6. 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) Trade-off.
(c) Legislation.
(d) Per capita.

7. When did the Cuban Revolution begin?
(a) 1953.
(b) 1965.
(c) 1972.
(d) 1934.

8. What is a term used in economics that refers to a market process in which "bad" results occur when buyers and sellers have asymmetric information?
(a) Asset allocation.
(b) Gresham's law.
(c) Pork barrel.
(d) Adverse selection.

9. Human capital is extremely important in economics because it is also tied together with what?
(a) Inflation.
(b) Collateral.
(c) Security.
(d) Productivity.

10. Behavioral economics intertwine economics and what?
(a) Religion.
(b) Psychology.
(c) Geometry.
(d) Geography.

11. According to the author, financial markets boil down to four basic simple needs. What is the first discussed in Chapter 7?
(a) Raising capital.
(b) Storing, protecting and making profitable use of excess capital.
(c) Speculation.
(d) Insuring against risk.

12. In what year did the French government try to address its unemployment rates with what the author calls the economic equivalent of fool's gold?
(a) 2000.
(b) 1993.
(c) 1988.
(d) 1997.

13. In what year did Douglas Ivester tell his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) 1989.
(b) 1977.
(c) 1969.
(d) 1982.

14. When did the Korean War end?
(a) 1966.
(b) 1962.
(c) 1953.
(d) 1970.

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

Short Answer Questions

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

2. According to the author in Chapter 2, a horn from a black rhinoceros can fetch what amount on the black market?

3. What refers to a market where prices are determined by supply and demand?

4. What are negative results which occur while trying to achieve a goal for the common good?

5. Burton G. Malkiel is an American economist, most famous for what classic finance book?

(see the answer keys)

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