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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. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
(a) Nonprofit organizations.
(b) Religious institutions.
(c) Corporations.
(d) The government.

2. The United Nations Monetary and Financial Conference was commonly known as what?
(a) The San Diego conference.
(b) The New York and Europe conference.
(c) The Yosemite Falls conference.
(d) The Bretton Woods conference.

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

4. In economics, what is a sustained, long-term downturn in economic activity in one or more economies?
(a) Recession.
(b) Trade-off.
(c) Depression.
(d) Business cycle.

5. Who introduced the Hope credit?
(a) George W. Bush.
(b) Bill Clinton.
(c) John F. Kennedy.
(d) Ronald Reagan.

Short Answer Questions

1. The U.S. Treasury began doing business only in gold or silver coin as part of the Independent Treasury Act of what year?

2. Michael Jensen is a professor at what university's business school?

3. Of the top 25 polluted cities in the world, how many are in China according to the author?

4. OPEC has maintained its headquarters where since 1965?

5. In what political structure does the government set the price and decide what's on the shelves?

(see the answer key)

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