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

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

Multiple Choice Questions

1. 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 eighth?
(a) Demographics.
(b) Unemployment.
(c) Poverty.
(d) Income inequality.

2. 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) 800 million.
(b) 350 million.
(c) 100 million.
(d) 1 billion.

3. 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 seventh?
(a) Current account surplus/deficit.
(b) Demographics.
(c) Total national happiness.
(d) National savings.

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?
(a) Deflation.
(b) Collateral.
(c) Interest.
(d) Inflation.

5. What does IMF stand for?
(a) Internal Military Fund.
(b) Insecure Management Fund.
(c) International Monetary Fund.
(d) Insightful Money Framework.

Short Answer Questions

1. What is the sixth factor one should consider along with the GDP according to the author in Chapter 9?

2. The United Nations Monetary and Financial Conference was commonly known as what?

3. Americans today are how many times as rich as an American in the 1940s according to the author in Chapter 9?

4. The GDP does not consider economic activity that is what, according to the author in Chapter 9?

5. What does HDI stand for?

(see the answer keys)

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