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 is the economic policy of restraining trade between states through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to allow "fair competition" between imports and goods and services produced domestically?

2. When did the California Gold Rush begin?

3. What term refers to currency with no international value?

4. In economics, what is a sustained, long-term downturn in economic activity in one or more economies?

5. What country had a bad reputation so it's government created a currency board ensuring that each of its pesos was worth one United States dollar?

Short Essay Questions

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

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

3. How is the decline of Iceland's economy described in Chapter 11?

4. What can be seen about the American economy by looking at the GDP, as illustrated in Chapter 9?

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

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

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

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

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

10. How does the author describe the results of the United Nations Monetary and Financial Conference 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

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?

Essay Topic 3

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?

(see the answer keys)

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