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.

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.
Buy the Naked Economics: Undressing the Dismal Science Lesson Plans
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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. Arab members of OPEC alarmed the developed world when they used the "oil weapon" during what war by implementing oil embargoes?

2. What refers to reasoning which constructs or evaluates deductive arguments?

3. According to the author, there are two lessons to be learned from a monopoly situation. What is the first?

4. When did Ross Perot found Electronic Data Systems?

5. Cuba remained a territory of Spain until the Spanish-American War ended in what year?

Short Essay Questions

1. 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?

2. What lessons can be learned from a monopoly situation according to the author in Chapter 4?

3. How does the author address the question of "getting rich quickly" in the market in Chapter 7?

4. How has the market economy contributed to a higher standard of living in America, according to the author in Chapter 1?

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

6. How is the black rhinoceros described in Chapter 2? What are the horns of the animal worth in Yemen, and why?

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

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

9. How do the resources of a country reflect its economic well-being, according to the author in Chapter 6?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe and discuss the stock market and the New York Stock Exchange. How are the following terms used in Chapter 7 defined: risk, speculation, investment, derivatives, capital? What four basic needs to understand investment are discussed in Chapter 7?

Essay Topic 2

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 3

Discuss the use of stock options as a means to develop company loyalty. Why does Michael Jenson oppose stock options? What does he refer to them as in Chapter 2? What, according to the author, motivates talented teachers to leave to go onto other professions?

(see the answer keys)

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