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

Charles Wheelan
This set of Lesson Plans consists of approximately 148 pages of tests, essay questions, lessons, and other teaching materials.
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Mid-Book Test - Hard

Name: _____________________________ Period: ___________________________

This quiz 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

Define human capital and discuss how this term applies to the biographies and careers of Bill Gates and Gary Becker. How is a person's human capital valuated? How is income inequality worsened by the recession that began in 2008? How has the divide between those working on Wall Street and those working in the Main Street sector grown bigger? Why?

Discuss the author's example from Chapter 2 involving Yemen and the black rhinoceros. What is the value of the black rhino's horns and why are these horns so highly sought after? How does he describe the role of ecotourism as an environmental and economical solution? When did ecotourism first develop?

Describe and discuss Douglas Ivester, the Coca-Cola Company, and the toppling of the Berlin Wall. When did the Berlin Wall come down and what did this mean in terms of the U.S.S.R.? What is brand recognition? In what ways does the author laud Ivester's tactic for marketing?

(see the answer keys)

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