Naked Economics: Undressing the Dismal Science Test | Final Test - Hard

Charles Wheelan
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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. When did the Great Depression begin in the United States?

2. When did President Jefferson suspend the minting of silver coins in the U.S.?

3. In many countries, the negative effects of the Great Depression lasted until the start of what?

4. Economists call the cycle of recession and recovery what, according to the author in Chapter 9?

5. What is an assistance paid to a business or economic sector?

Short Essay Questions

1. How are the complications of international exchange rates described in Chapter 11?

2. What are the benefits of the HDI versus the GDP according to the author in Chapter 9?

3. What does the GDP not factor in, according to the author in Chapter 9?

4. How does the author address the issue of protectionism in Chapter 12?

5. What are the motivations of those receiving subsidies, as described by the author in Chapter 8?

6. What is the cycle of recession and recovery called? How is GDP defined in Chapter 9?

7. What is the HDI? How is it described in Chapter 9?

8. Discuss the growth rate of globalizing countries as discussed in Chapter 12. How did the globalizing countries benefit?

9. What did the French president propose in measuring economies, as described in Chapter 9? What criticism did he receive?

10. How does the author address the issues of outsourcing in Chapter 12?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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"?

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

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?

(see the answer keys)

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