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

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

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

3. What is the process of contracting a business function to someone else?
(a) Outsourcing.
(b) Investing.
(c) Managing.
(d) Motivation.

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

5. What is the sixth factor one should consider along with the GDP according to the author in Chapter 9?
(a) National savings.
(b) Current account surplus/deficit.
(c) Total national happiness.
(d) Income inequality.

Short Answer Questions

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

2. The United Nations Monetary and Financial Conference was a gathering of delegates from how many nations?

3. The U.S. Treasury began doing business only in gold or silver coin as part of the Independent Treasury Act of what year?

4. What country had a bad reputation so it's government created a currency board ensuring that each of its pesos was worth one United States dollar?

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. Discuss the growth rate of globalizing countries as discussed in Chapter 12. How did the globalizing countries benefit?

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

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

5. What does the author assert nations need beyond natural resources in order to succeed in Chapter 13?

6. What is the HDI? How is it described in Chapter 9?

7. What does the author remark about globalization in the beginning of Chapter 12? What are the benefits of global trade?

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

9. What are the motivations of those receiving subsidies, as described by the author in Chapter 8?

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

(see the answer keys)

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