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This quiz consists of 5 multiple choice and 5 short answer questions through For Chapters 8-10.

Multiple Choice Questions

1. Michael Jensen is a professor at what university's business school?
(a) Harvard University.
(b) Fordham University.
(c) Yale University.
(d) The University of Chicago.

2. When did the Cuban Revolution end?
(a) 1984.
(b) 1996.
(c) 1959.
(d) 1979.

3. What country withdrew from OPEC in 2008 after it became a net importer of oil?
(a) Egypt.
(b) The United States.
(c) Indonesia.
(d) Mexico.

4. What is generally the principled guide to action taken by the administrative or executive branches of the state with regard to a class of issues in a manner consistent with law and institutional customs?
(a) Perverse incentives.
(b) Pork barrel.
(c) Public policy.
(d) Deductive reasoning.

5. Gary Becker figured that the stock of skills, education, training and an individual's health constitutes about what percent of a modern economy's wealth?
(a) 42.
(b) 35.
(c) 60.
(d) 75.

Short Answer Questions

1. What is a situation that involves losing one quality or aspect of something in return for gaining another quality or aspect?

2. When was Burton G. Malkiel born?

3. According to the author, financial markets boil down to four basic simple needs. What is the first discussed in Chapter 7?

4. According to the principles of a market economy, if it's raining, it's time to sell what?

5. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in what year?

(see the answer key)

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