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This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.
Multiple Choice Questions
1. When did the Korean War begin?
(a) 1950.
(b) 1931.
(c) 1948.
(d) 1959.
2. When was Gary Becker born?
(a) 1956.
(b) 1922.
(c) 1945.
(d) 1930.
3. 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?
(a) Floating exchange rate.
(b) Money market.
(c) Mutual fund.
(d) Index fund.
4. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
(a) Reinstitution of Communism.
(b) Brand recognition.
(c) Freedom for the German people.
(d) World domination.
5. What contends that prices of publicly traded assets reflect all publicly available information?
(a) The efficient market hypothesis.
(b) The uniform pay scale.
(c) Supply and demand.
(d) Adverse selection.
Short Answer Questions
1. Michael Jensen refers to company stock options as what in Chapter 2?
2. According to the author, the Hope Scholarships were a plan wherein students could borrow money for college and pay back their loans after they graduated using what?
3. In Chapter 6, the author discusses poverty and income equality, using the example of what billionaire?
4. What is an economic model of price determination in a market that concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers?
5. What is an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investors risk tolerance, goals and investment time frame?
Short Essay Questions
1. What investment tactic is recommended for the average investor without much expertise in the market in Chapter 7?
2. What are the second through fourth of the basic needs the author boils down for investment markets in Chapter 7?
3. How does the author of the Foreword describe the focus the book of "Naked Economics: Undressing the Dismal Science"? Does he find it balanced? Why?
4. What is a "diversified portfolio"? What does the author state regarding this in Chapter 7?
5. How is the black rhinoceros described in Chapter 2? What are the horns of the animal worth in Yemen, and why?
6. What lessons can be learned from a monopoly situation according to the author in Chapter 4?
7. What are the ramifications of decisions made in the world of finance and legislation, according to the author in the Introduction?
8. What is the first of the basic needs the author boils down for investment markets in Chapter 7?
9. How does human capital relate to productivity? How does this in turn reflect the economic well-being of a nation, according to the author in Chapter 6?
10. How does the author describe the tactics used by OPEC in Chapter 1?
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