View a FREE sample

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

Multiple Choice Questions

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

2. In an insurance policy, what is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses?
(a) Inflation.
(b) Deductible.
(c) Subsidy.
(d) Collateral.

3. What is the capital of the Republic of Cuba?
(a) Miami.
(b) Kingston.
(c) Tijuana.
(d) Havana.

4. Ross Perot ran for President of the United States in what year?
(a) 1988.
(b) 2002.
(c) 1992.
(d) 2000.

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

Short Answer Questions

1. What is generally a fungible, negotiable financial instrument representing financial value?

2. What does the author refer to as a situation where individuals work in their own best interest, leading to an improved standard of living for society in general?

3. Economists ignored signs of problems in what year because they didn't want to face what might happen in the future, according to the author in the Introduction?

4. What is the financial system consisting of institutions and regulators that act on the international level, as opposed to those that act on a national or regional level?

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

(see the answer key)

This section contains 230 words (approx. 1 page at 300 words per page) View a FREE sample