|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. In Chapter 13, the author states that according to the United Nations Food and Agriculture Organization, over how many people in this world don't get enough to eat?
2. The United Nations Monetary and Financial Conference was commonly known as what?
3. What is an assistance paid to a business or economic sector?
4. The author writes that trade helps the economy by doing what, in Chapter 12?
5. What does GDP stand for?
Short Essay Questions
1. How are fixed exchange rates defined and described in Chapter 11?
2. What is the HDI? How is it described in Chapter 9?
3. What is the cycle of recession and recovery called? How is GDP defined in Chapter 9?
4. How does the author describe the recessions of the U.S. and the Japanese in Chapter 9?
5. How does the author address the issue of protectionism in Chapter 12?
6. How does the author describe public policy in Chapter 8? What problems do politicians face in this area?
7. What does the author remark about globalization in the beginning of Chapter 12? What are the benefits of global trade?
8. How does the author address the issues of outsourcing in Chapter 12?
9. How is the Federal Reserve described in Chapter 10? What is the role of the Fed?
10. What did Mark Miringhoff propose as a measure for economies, as described in Chapter 9?
Write an essay for ONE of the following topics:
Essay Topic 1
Describe and discuss the stock market and the New York Stock Exchange. How are the following terms used in Chapter 7 defined: risk, speculation, investment, derivatives, capital? What four basic needs to understand investment are discussed in Chapter 7?
Essay Topic 2
Define and analyze public policy, lobbyists, and subsidies. How has public policy changed in the past 20 years? How do subsidies affect the economy as a whole? What are the drawbacks to public policy and small groups, according to the author?
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?
This section contains 935 words
(approx. 4 pages at 300 words per page)