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. Charles Wheelan was an unsuccessful Democratic candidate in the special election for Illinois's 5th congressional district, the seat vacated by whom?

2. What is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market?

3. 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 eighth?

4. What is the ninth factor one should consider along with the GDP to understand an economy, according to the author in Chapter 9?

5. What does HDI stand for?

Short Essay Questions

1. How does the author describe public policy in Chapter 8? What problems do politicians face in this area?

2. What is the ERM? What is its role according to the author in Chapter 11?

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

4. What does the author assert nations need beyond natural resources in order to succeed in Chapter 13?

5. Discuss the relationship between wealth and happiness. How is this illustrated in Chapter 9?

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

7. How does the author describe the importance of monetary policy in concluding the book in Chapter 13?

8. How does the author describe the results of the United Nations Monetary and Financial Conference in Chapter 11?

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Define, analyze and discuss the gross domestic product of the U.S. over the past century. When have the greatest changes taken place? What does this tell us about the economy during those times? How has technology affected the GDP in America?

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 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?

(see the answer keys)

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