Final Test - Easy
|Name: _____________________________||Period: ___________________________|
This quiz consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. In Chapter 13, the author states that according to the United Nations Food and Agriculture Organization, over how many people in this world don't get enough to eat?
(a) 100 million.
(b) 1 billion.
(c) 800 million.
(d) 350 million.
2. In 1900, the average wage was how much per hour according to the author in Chapter 9?
(a) 32.8 cents.
(b) 23.7 cents.
(c) 54.2 cents.
(d) 14.8 cents.
3. In Chapter 9, the author discusses how fifteen years ago what nation was on top of the world economically?
4. In economics, what is a rise in the general level of prices of goods and services in an economy over a period of time?
5. What does FX stand for?
(a) Finacial Extreme.
(b) Futures Axiom.
(c) Fiscal Axiom.
(d) Foreign Exchange Market.
6. What is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market?
(a) Floating exchange rate.
(b) Inflationary exchange rate.
(c) Subsidized exchange rate.
(d) Interdependent exchange rate.
7. The United Nations Monetary and Financial Conference was a gathering of how many delegates?
8. The Chinese GDP has grown substantially over the past decade, yet its success is correlated to what, according to the author in Chapter 9?
(a) Environmental degradation.
(b) Interest payments.
(c) Quality of life.
(d) Utility costs.
9. What, in economics, refers to a globally traded currency that is expected to serve as a reliable and stable store of value?
(a) Dark currency.
(b) Soft currency.
(c) Light currency.
(d) Hard currency.
10. What is the process of contracting a business function to someone else?
11. In the Epilogue, the author discusses seven issues used to understand and improve the world. What is the second?
(a) The divide between the rich and the poor.
(b) The market.
(c) Maximizing utility.
12. In 1900, a pair of stockings would cost how much money according to the author in Chapter 9?
13. When was the Federal Reserve Act enacted?
14. The benefit of the HDI in comparison to the GDP is that the GDP does not measure what, according to the author in Chapter 9?
(c) Political unrest.
15. The delegates at the United Nations Monetary and Financial Conference created the World Bank, which is owned by how many member countries?
Short Answer Questions
1. From 1997 to 2002, Charles Wheelan was the Midwest correspondent for what publication?
2. India has a very low GDP per capita, and it also has over how many cases of leprosy according to the author in Chapter 9?
3. Charles Wheelan was an unsuccessful Democratic candidate in the special election for Illinois's 5th congressional district, the seat vacated by whom?
4. According to the author in Chapter 9, to ensure accuracy, the real GDP is a figure that has been adjusted to account for what?
5. What is an economic principle that states "Bad money drives out good"?
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