|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions and 1 (of 3) essay topics.
Short Answer Questions
1. According to the author in Chapter 11, the problem with this gold standard was the central bank could do what?
2. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the second?
3. According to the author in Chapter 9, to ensure accuracy, the real GDP is a figure that has been adjusted to account for what?
4. What does GDP stand for?
5. In order to get a true understanding of an economy, there are nine factors one should consider along with the GDP according to the author in Chapter 9. What is the fifth?
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, 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
Define and analyze public policy, lobbyists, and subsidies. How has public policy changed in the past 20 years? How do subsidies affect the economy as a whole? What are the drawbacks to public policy and small groups, according to the author?
This section contains 1,099 words
(approx. 4 pages at 300 words per page)