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. In France, what president wanted to come up with a way to measure human happiness, as described in Chapter 9?
(a) Charles de Gaulle.
(b) Nicholas Sarkozy.
(c) Jacques Chirac.
(d) François Mitterrand.

2. 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?
(a) Deductive reasoning.
(b) Perverse incentives.
(c) Pork barrel.
(d) Public policy.

3. The GDP does not consider economic activity that is what, according to the author in Chapter 9?
(a) Unpaid.
(b) Interdependent.
(c) Subsidized.
(d) Deductible.

4. In the Epilogue, the author discusses seven issues used to understand and improve the world. What is the third?
(a) Maximizing utility.
(b) Productivity.
(c) The divide between the rich and the poor.
(d) The market.

5. From 1997 to 2002, Charles Wheelan was the Midwest correspondent for what publication?
(a) The Economic Times.
(b) The Wall Street Journal.
(c) The Economist.
(d) Investors Business Daily.

Short Answer Questions

1. What does IMF stand for?

2. In many countries, the negative effects of the Great Depression lasted until the start of what?

3. What refers to law which has been enacted by a legislature or other governing body, or the process of making it?

4. Mark Miringhoff is a social science professor at what institution?

5. What is an assistance paid to a business or economic sector?

Short Essay Questions

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

2. How does the author describe the importance of monetary policy in concluding the book in Chapter 13?

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

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

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

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

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

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

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

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

(see the answer keys)

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