Naked Economics: Undressing the Dismal Science Test | Lesson Plans Mid-Book Test - Hard

Charles Wheelan
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Mid-Book Test - Hard

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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. When did Ross Perot found Electronic Data Systems?

2. When did the Korean War end?

3. What term was first used in the early 1990s to denote an organization's reputation as an employer?

4. What represents the original capital paid into or invested in the business by its founders?

5. In what year did Douglas Ivester tell his sales team to pass free Coca-Cola around as the Berlin Wall toppled?

Short Essay Questions

1. How does the author of the Foreword describe Charles Wheelan's approach to explaining economics in "Naked Economics: Undressing the Dismal Science"?

2. What do economists assume about human nature and motivation, according to the author in Chapter 1?

3. Discuss the importance of information in economics. How does the author address the issue of information in Chapter 4?

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

5. How does the author describe the relationship between the GDP and quality of life in India in Chapter 9?

6. What are the second through fourth of the basic needs the author boils down for investment markets in Chapter 7?

7. What examples does the author give for the uninformed relaying false information in the Introduction?

8. What are the benefits of the HDI versus the GDP according to the author in Chapter 9?

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

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

Essay Topics

Essay Topic 1

Discuss the career of economist Burton G. Malkiel and the efficient market hypothesis. When was the efficient market hypothesis developed? What ideas are presented in Malkiel's "A Random Walk Down Wall Street"? What does Malkiel write in the Forward to "Naked Economics: Undressing the Dismal Science"?

Essay Topic 2

Analyze and discuss recent governmental decisions which impact the economy and environment. What legislation has passed regarding oil drilling and fracking? How do these examples relate to the author's views on the government's role in environmental issues?

Essay Topic 3

Discuss and analyze the author's Introduction to the book. What role does Wheelan propose economics and finance has in everyday life? What, according to the author, led to the problems with Lehman Brothers? What examples does the author use for politicians using false information?

(see the answer keys)

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