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. 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 first?

2. What refers to economy-wide fluctuations in production or economic activity over several months or years?

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

4. Where did Charles Wheelan earn a PhD in public policy?

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

Short Essay Questions

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

2. How does the author describe the recessions of the U.S. and the Japanese in Chapter 9?

3. How does the author describe the relationship between the GDP and quality of life in India in Chapter 9?

4. How do poor countries benefit by outsourcing and global trade, as described by the author in Chapter 12?

5. What does the author remark about globalization in the beginning of Chapter 12? What are the benefits of global trade?

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

7. In the example given in Chapter 11 of Argentina borrowing the reputation of the U.S., what was the outcome?

8. What did Mark Miringhoff propose as a measure for economies, as described in Chapter 9?

9. How does the author illustrate time and price value in America in Chapter 9?

10. How are fixed exchange rates defined and described in Chapter 11?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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 2

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?

Essay Topic 3

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?

(see the answer keys)

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