|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 was appointed as Chairman and Chief Executive Officer of Coca-Cola Company after whose death?
2. When was Gary Becker born?
3. What are negative results which occur while trying to achieve a goal for the common good?
4. In an insurance policy, what is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses?
5. What is an economic model of price determination in a market that concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers?
Short Essay Questions
1. What human fallacies does the author address in the beginning of Chapter 7?
2. How is branding described as an economic strategy in Chapter 5?
3. What is the first of the basic needs the author boils down for investment markets in Chapter 7?
4. What examples does the author give for the uninformed relaying false information in the Introduction?
5. How does the author describe Douglas Ivester's marketing tactic in Chapter 1?
6. 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?
7. How does the health of the economy affect income inequality, according to the author in Chapter 6?
8. Discuss the importance of information in economics. How does the author address the issue of information in Chapter 4?
9. What are the ramifications of decisions made in the world of finance and legislation, according to the author in the Introduction?
10. How does the author address the question of "getting rich quickly" in the market in Chapter 7?
Write an essay for ONE of the following topics:
Essay Topic 1
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?
Essay Topic 2
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 3
Discuss the biography and career of Charles Wheelan. What history and expertise does Wheelan have in the field of economics? What publications has Wheelan written for? How many books has he published? What criticism and/or awards did he earn for "Naked Economics: Undressing the Dismal Science"?
This section contains 986 words
(approx. 4 pages at 300 words per page)