Final Test - Hard
|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions and 1 (of 3) essay topics.
Short Answer Questions
1. In many countries, the negative effects of the Great Depression lasted until the start of what?
2. What is an economic principle that states "Bad money drives out good"?
3. The United Nations Monetary and Financial Conference was commonly known as what?
4. According to the author in Chapter 13, some argue that high temperatures and heavy rainfall yield poor food production and and increase in what, therefore limiting a location's ability to create a thriving economy?
5. In 1900, the average wage was how much per hour according to the author in Chapter 9?
Essay Topic 1
Define human capital and discuss how this term applies to the biographies and careers of Bill Gates and Gary Becker. How is a person's human capital valuated? How is income inequality worsened by the recession that began in 2008? How has the divide between those working on Wall Street and those working in the Main Street sector grown bigger? Why?
Essay Topic 2
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 3
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?
This section contains 282 words
(approx. 1 page at 300 words per page)