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

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.
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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. In many countries, the negative effects of the Great Depression lasted until the start of what?
(a) The Korean War.
(b) World War II.
(c) Vietnam.
(d) World War I.

2. What is a Latin prepositional phrase meaning "by heads"?
(a) Et cetera.
(b) E Pluribus Unum.
(c) Per capita.
(d) In Unum.

3. Americans today are how many times as rich as an American in the 1940s according to the author in Chapter 9?
(a) 10.
(b) 14.
(c) 2.
(d) 5.

4. According to the author in Chapter 11, the problem with this gold standard was the central bank could do what?
(a) Require collateral.
(b) Manipulate exchange rates.
(c) Charge interest.
(d) Devalue the currency.

5. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the second?
(a) National savings.
(b) Demographics.
(c) Poverty.
(d) Income inequality.

Short Answer Questions

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

2. 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?

3. In lending agreements, what is a borrower's pledge of specific property to a lender, to secure repayment of a loan?

4. What does ERM stand for?

5. Incomes rose between 1970 and 1999, yet those who described themselves as as "very happy" decreased from 36% to what?

Short Essay Questions

1. How does the author illustrate time and price value in America in Chapter 9?

2. How does the author address the issues of outsourcing in Chapter 12?

3. How are the complications of international exchange rates described in Chapter 11?

4. Discuss the relationship between wealth and happiness. How is this illustrated in Chapter 9?

5. What does the GDP not factor in, according to the author in Chapter 9?

6. What did the French president propose in measuring economies, as described in Chapter 9? What criticism did he receive?

7. How do poor countries benefit by outsourcing and global trade, as described by the author in Chapter 12?

8. In the example given in Chapter 11 of Argentina borrowing the reputation of the U.S., what was the outcome?

9. How does the author describe the relationship between the GDP and quality of life in India in Chapter 9?

10. How does the author describe the results of the United Nations Monetary and Financial Conference in Chapter 11?

(see the answer keys)

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