Final Test - Hard
|Name: _____________________________||Period: ___________________________|
This quiz consists of 5 short answer questions and 1 (of 3) essay topics.
Short Answer Questions
1. In many countries, the negative effects of the Great Depression lasted until the start of what?
2. What is an economic principle that states "Bad money drives out good"?
3. The United Nations Monetary and Financial Conference was commonly known as what?
4. According to the author in Chapter 13, some argue that high temperatures and heavy rainfall yield poor food production and and increase in what, therefore limiting a location's ability to create a thriving economy?
5. In 1900, the average wage was how much per hour according to the author in Chapter 9?
Define and discuss perverse incentives in economics. What example is used from Mexico City in Chapter 2? When did this governmental action take place and what results came of the actions? How was the pollution of Mexico City affected by legislation?
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?
Discuss the career of economist Burton G. Malkiel and the efficient market hypothesis. When was the efficient market hypothesis developed? What ideas are presented in Malkiel's "A Random Walk Down Wall Street"? What does Malkiel write in the Forward to "Naked Economics: Undressing the Dismal Science"?
This section contains 272 words
(approx. 1 page at 300 words per page)