|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. Of the top 25 polluted cities in the world, how many are in China according to the author?
2. Americans today are how many times as rich as an American in the 1940s according to the author in Chapter 9?
3. What is an assistance paid to a business or economic sector?
4. When was the Federal Reserve Act enacted?
5. The delegates at the United Nations Monetary and Financial Conference created the World Bank, which is owned by how many member countries?
Short Essay Questions
1. What does the author assert nations need beyond natural resources in order to succeed in Chapter 13?
2. In the example given in Chapter 11 of Argentina borrowing the reputation of the U.S., what was the outcome?
3. What did Mark Miringhoff propose as a measure for economies, as described in Chapter 9?
4. Discuss the growth rate of globalizing countries as discussed in Chapter 12. How did the globalizing countries benefit?
5. How does the author describe the relationship between the GDP and quality of life in India in Chapter 9?
6. How does the author describe the results of the United Nations Monetary and Financial Conference in Chapter 11?
7. What did the French president propose in measuring economies, as described in Chapter 9? What criticism did he receive?
8. How do poor countries benefit by outsourcing and global trade, as described by the author in Chapter 12?
9. How does the author address the issue of protectionism in Chapter 12?
10. What are the benefits of the HDI versus the GDP according to the author in Chapter 9?
Write an essay for ONE of the following topics:
Essay Topic 1
Describe and discuss the most recent Japanese and U.S. recessions. When, according to the author, did Japan's economic decline begin? What led to it? What do these recessions have in common? How do they differ? What are the different viewpoints regarding how to pull America from its current recession? What legislation has attempted to boost the economy? Has it been effective? Why or why not?
Essay Topic 2
Discuss the career of economist Burton G. Malkiel and the efficient market hypothesis. When was the efficient market hypothesis developed? What ideas are presented in Malkiel's "A Random Walk Down Wall Street"? What does Malkiel write in the Forward to "Naked Economics: Undressing the Dismal Science"?
Essay Topic 3
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?
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