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

2. In economics, what is a sustained, long-term downturn in economic activity in one or more economies?
(a) Recession.
(b) Depression.
(c) Trade-off.
(d) Business cycle.

3. What is an assistance paid to a business or economic sector?
(a) Derivative.
(b) Collateral.
(c) Interest.
(d) Subsidy.

4. Nonperforming loans and bad investments caused the banks to suffer in Iceland, and by the fall of 2008, how many major banks in the country were defunct according to the author in Chapter 11?
(a) 8.
(b) 3.
(c) 12.
(d) 5.

5. The United Nations Monetary and Financial Conference was a gathering of delegates from how many nations?
(a) 44.
(b) 25.
(c) 38.
(d) 31.

Short Answer Questions

1. What does HDI stand for?

2. From 1997 to 2002, Charles Wheelan was the Midwest correspondent for what publication?

3. What is generally the principled guide to action taken by the administrative or executive branches of the state with regard to a class of issues in a manner consistent with law and institutional customs?

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

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

Short Essay Questions

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

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

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

4. What is the cycle of recession and recovery called? How is GDP defined in Chapter 9?

5. What did Mark Miringhoff propose as a measure for economies, as described in Chapter 9?

6. How is the Federal Reserve described in Chapter 10? What is the role of the Fed?

7. How are fixed exchange rates defined and described in Chapter 11?

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

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

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

(see the answer keys)

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