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

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.
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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. What contends that prices of publicly traded assets reflect all publicly available information?

2. Douglas Ivester was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?

3. What refers to the increasingly global relationships of culture, people and economic activity?

4. What is the fourth simple need of financial markets, as discussed in Chapter 7?

5. What is generally a fungible, negotiable financial instrument representing financial value?

Short Essay Questions

1. What are the ramifications of decisions made in the world of finance and legislation, according to the author in the Introduction?

2. What is the first of the basic needs the author boils down for investment markets in Chapter 7?

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

4. What human fallacies does the author address in the beginning of Chapter 7?

5. How is adverse selection described in the example of Hope Scholarships in Chapter 4?

6. What investment tactic is recommended for the average investor without much expertise in the market in Chapter 7?

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

8. What is the basic set of rules put forth by the author for those looking to invest in Chapter 7? How are risk and reward described?

9. What example does the author give for the negative effect of incentives in Chapter 2?

10. How is branding described as an economic strategy in Chapter 5?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe and discuss the circumstances and impacts of monopolies. What are examples of recent monopolies in the U.S.? How were these monopolies dealt with? What governmental regulations ensure against monopoly? What does the author say can be learned from monopolies?

Essay Topic 2

Describe, analyze and discuss the healthcare and insurance industries in the United States. What national legislation was recently passed which broached the issues of healthcare? How effective was this legislation? How do these industries represent inequality in regard to information?

Essay Topic 3

Describe and analyze the Hope Scholarship program and the Clinton Administration. When were Hope Scholarships introduced and when did they dissipate? How are Hope Scholarships used as an example of adverse selection in the book? What are other examples where adverse selection can be seen in recent history?

(see the answer keys)

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