Naked Economics: Undressing the Dismal Science Test | Final Test - Easy

Charles Wheelan
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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. When did the California Gold Rush begin?
(a) 1912.
(b) 1849.
(c) 1862.
(d) 1969.

2. 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) Utility costs.
(b) Quality of life.
(c) Interest payments.
(d) Environmental degradation.

3. What is the appropriation of government spending for localized projects secured solely or primarily to bring money to a representative's district?
(a) Deductive reasoning.
(b) Perverse incentives.
(c) Public policy.
(d) Pork barrel.

4. The U.S. Treasury began doing business only in gold or silver coin as part of the Independent Treasury Act of what year?
(a) 1875.
(b) 1822.
(c) 1883.
(d) 1848.

5. What is an economic principle that states "Bad money drives out good"?
(a) The uniform pay scale.
(b) Adverse selection.
(c) The Juche Idea.
(d) Gresham's law.

6. When was the first edition of "Naked Economics: Undressing the Dismal Science" published?
(a) 2002.
(b) 1995.
(c) 2006.
(d) 1997.

7. Where does the author live and work today?
(a) Minneapolis, Minnesota.
(b) Chicago, Illinois.
(c) Phoenix, Arizona.
(d) San Francisco, California.

8. In many countries, the negative effects of the Great Depression lasted until the start of what?
(a) Vietnam.
(b) World War I.
(c) The Korean War.
(d) World War II.

9. Who gave out free medication in order to help the fight against leprosy, according to the author in Chapter 9?
(a) The Food and Drug Administration.
(b) The Bill and Melinda Gates Foundation.
(c) The World Health Organization.
(d) The University of Chicago.

10. When did the United Nations Monetary and Financial Conference take place?
(a) 1970.
(b) 1944.
(c) 1932.
(d) 1961.

11. 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) Hard currency.
(c) Soft currency.
(d) Light currency.

12. The GDP does not consider economic activity that is what, according to the author in Chapter 9?
(a) Deductible.
(b) Unpaid.
(c) Interdependent.
(d) Subsidized.

13. The United Nations Monetary and Financial Conference was a gathering of how many delegates?
(a) 730.
(b) 975.
(c) 435.
(d) 560.

14. What refers to law which has been enacted by a legislature or other governing body, or the process of making it?
(a) Hedge.
(b) Legislation.
(c) Gresham's law.
(d) Trade-off.

15. Charles Wheelan graduated from what educational institution?
(a) Dartmouth College.
(b) Harvard University.
(c) Yale University.
(d) University of Chicago.

Short Answer Questions

1. In the Epilogue, the author discusses seven issues used to understand and improve the world. What is the third?

2. What does FX stand for?

3. The author writes that trade helps the economy by doing what, in Chapter 12?

4. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?

5. What does HDI stand for?

(see the answer keys)

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