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.

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.
Buy the Naked Economics: Undressing the Dismal Science Lesson Plans
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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 finance, what between two currencies is the rate at which one currency will be exchanged for another?
(a) Exchange rate.
(b) Deductible.
(c) Collateral.
(d) Devaluation.

2. When did the Great Depression begin in the United States?
(a) 1886.
(b) 1918.
(c) 1905.
(d) 1929.

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

4. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?
(a) $4.
(b) $11.
(c) $2.
(d) $7.

5. In Chapter 9, the author discusses how fifteen years ago what nation was on top of the world economically?
(a) India.
(b) Canada.
(c) Spain.
(d) Japan.

Short Answer Questions

1. 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?

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

3. What publication commented on the French president's desire to come up with a way to measure human happiness, saying that it's like asking experts to put a number on spiritual matters?

4. Charles Wheelan was an unsuccessful Democratic candidate in the special election for Illinois's 5th congressional district, the seat vacated by whom?

5. According to the author in Chapter 9, the average wage of an American in the year 2000 was over how much hourly?

Short Essay Questions

1. How is the gold standard described in Chapter 11? What is the problem with the gold standard?

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

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

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

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

6. How does the author describe the recessions of the U.S. and the Japanese in Chapter 9?

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

8. How does the author address the issue of protectionism in Chapter 12?

9. What is the ERM? What is its role according to the author in Chapter 11?

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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