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 many countries, the negative effects of the Great Depression lasted until the start of what?
(a) World War II.
(b) World War I.
(c) Vietnam.
(d) The Korean War.

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

3. The United Nations Monetary and Financial Conference was commonly known as what?
(a) The San Diego conference.
(b) The New York and Europe conference.
(c) The Bretton Woods conference.
(d) The Yosemite Falls conference.

4. According to the author in Chapter 13, some argue that high temperatures and heavy rainfall yield poor food production and and increase in what, therefore limiting a location's ability to create a thriving economy?
(a) Disease.
(b) Dust.
(c) Predator species.
(d) Floods.

5. In 1900, the average wage was how much per hour according to the author in Chapter 9?
(a) 54.2 cents.
(b) 14.8 cents.
(c) 23.7 cents.
(d) 32.8 cents.

Short Answer Questions

1. Economists call the cycle of recession and recovery what, according to the author in Chapter 9?

2. What is the appropriation of government spending for localized projects secured solely or primarily to bring money to a representative's district?

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

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

5. What is the economic policy of restraining trade between states through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to allow "fair competition" between imports and goods and services produced domestically?

(see the answer keys)

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