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This quiz consists of 5 multiple choice and 5 short answer questions through Chapters 4-7.

Multiple Choice Questions

1. What refers to the degree to which a correct forecast of a system's state can be made either qualitatively or quantitatively?
(a) Recession.
(b) Index.
(c) Security.
(d) Predictability.

2. In finance, what is a debt security in which the authorized issuer owes the holders a debt and, depending on the terms, is obliged to pay interest to use and/or to repay the principal at a later date?
(a) Stock.
(b) Option.
(c) Bond.
(d) Deductible.

3. What rhetorical question do economists ask, according to the author in Chapter 1?
(a) "Who hears New York?"
(b) "Who smells Detroit?"
(c) "Who feeds Paris?"
(d) "Who sees London?"

4. What is an investment position intended to offset potential losses that may be incurred by a companion investment?
(a) Futures contract.
(b) Deductible.
(c) Hedge.
(d) Bond.

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

Short Answer Questions

1. When was the Hope credit established?

2. When did the Cuban Revolution end?

3. According to the author in Chapter 1, companies want to profit, and consumers want what?

4. When did the Korean War begin?

5. What is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames?

(see the answer key)

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