|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. Economists call the cycle of recession and recovery what, according to the author in Chapter 9?
2. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?
3. In finance, what between two currencies is the rate at which one currency will be exchanged for another?
4. What does ERM stand for?
5. The Chinese GDP has grown substantially over the past decade, yet its success is correlated to what, according to the author in Chapter 9?
Short Essay Questions
1. What are the benefits of the HDI versus the GDP according to the author in Chapter 9?
2. How is the decline of Iceland's economy described in Chapter 11?
3. How does the author describe the recessions of the U.S. and the Japanese in Chapter 9?
4. What does the GDP not factor in, according to the author in Chapter 9?
5. How does the author illustrate time and price value in America in Chapter 9?
6. How does the author describe the importance of monetary policy in concluding the book in Chapter 13?
7. In the example given in Chapter 11 of Argentina borrowing the reputation of the U.S., what was the outcome?
8. How is the gold standard described in Chapter 11? What is the problem with the gold standard?
9. What did Mark Miringhoff propose as a measure for economies, as described in Chapter 9?
10. Discuss the relationship between wealth and happiness. How is this illustrated in Chapter 9?
Write an essay for ONE of the following topics:
Essay Topic 1
Describe and analyze the author's concepts of productivity, education, and standard of living in Chapter 6. How does productivity relate to human capital? How does education relate to human capital and standard of living? How has education changed in the past 20 years?
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 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?
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