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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. In economics, what refers to a general slowdown in economic activity?
2. 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 fifth?
3. What, in economics, refers to a globally traded currency that is expected to serve as a reliable and stable store of value?
4. What is the sixth factor one should consider along with the GDP according to the author in Chapter 9?
5. In the year 2000, a pair of stockings on average would cost how much, 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 does the author illustrate time and price value in America in Chapter 9?
3. How is the Federal Reserve described in Chapter 10? What is the role of the Fed?
4. How does the author address the issue of protectionism in Chapter 12?
5. How does the author address the issues of outsourcing in Chapter 12?
6. In the example given in Chapter 11 of Argentina borrowing the reputation of the U.S., what was the outcome?
7. What did Mark Miringhoff propose as a measure for economies, as described in Chapter 9?
8. What is the ERM? What is its role according to the author in Chapter 11?
9. What is the HDI? How is it described in Chapter 9?
10. How are fixed exchange rates defined and described in Chapter 11?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
Discuss the use of stock options as a means to develop company loyalty. Why does Michael Jenson oppose stock options? What does he refer to them as in Chapter 2? What, according to the author, motivates talented teachers to leave to go onto other professions?
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 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?
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This section contains 913 words (approx. 4 pages at 300 words per page) |
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