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

Charles Wheelan
This set of Lesson Plans consists of approximately 139 pages of tests, essay questions, lessons, and other teaching materials.
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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. What, in economics, refers to a globally traded currency that is expected to serve as a reliable and stable store of value?

2. When did the California Gold Rush begin?

3. The delegates at the United Nations Monetary and Financial Conference created the World Bank, which is owned by how many member countries?

4. In France, what president wanted to come up with a way to measure human happiness, as described in Chapter 9?

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

Short Essay Questions

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

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

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

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

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

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

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

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

9. How is the gold standard described in Chapter 11? What is the problem with the gold standard?

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Describe, analyze and discuss the public goods offered by the government in the U.S. What percentage of our nation's budget is dedicated to police and fire enforcement, roads, schools, etc.? What is the government's role in economic infrastructure, regulation, and finance?

Essay Topic 2

Define and discuss stock averages and index funds. What are mutual funds and how are they implemented in an investment strategy? What are ways suggested by the author to minimize risk when investing? What is "insider trading" and how does it impact the economy as a whole?

Essay Topic 3

Describe and discuss the history and economies of Cuba and North Korea. How have these economies suffered from overregulation, according to the author? What are the differences between Communist and capitalist nations regarding regulation and trade?

(see the answer keys)

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