|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. Douglas Ivester's goal was achieving what when he told his sales team to pass free Coca-Cola around as the Berlin Wall toppled?
2. What refers to the increasingly global relationships of culture, people and economic activity?
3. What rhetorical question do economists ask, according to the author in Chapter 1?
4. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
5. When was Douglas Ivester born?
Short Essay Questions
1. How does the author describe the importance of monetary policy in concluding the book in Chapter 13?
2. What example does the author give for the negative effect of incentives in Chapter 2?
3. Discuss the relationship between wealth and happiness. How is this illustrated in Chapter 9?
4. What is the cycle of recession and recovery called? How is GDP defined in Chapter 9?
5. What is the difficulty of studying economics, according to the author of the Foreword? What is the role of economics in everyday activities?
6. What do economists assume about human nature and motivation, according to the author in Chapter 1?
7. How is the black rhinoceros described in Chapter 2? What are the horns of the animal worth in Yemen, and why?
8. What is the ERM? What is its role according to the author in Chapter 11?
9. How does the author describe Douglas Ivester's marketing tactic in Chapter 1?
10. How are the complications of international exchange rates described in Chapter 11?
Write an essay for ONE of the following topics:
Essay Topic 1
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?
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?
This section contains 1,721 words
(approx. 6 pages at 300 words per page)