1. What rhetorical question do economists ask, according to the author in Chapter 1?
(a) "Who sees London?"
(b) "Who smells Detroit?"
(c) "Who hears New York?"
(d) "Who feeds Paris?"

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 seventh?
(a) National savings.
(b) Demographics.
(c) Total national happiness.
(d) Current account surplus/deficit.

3. Human capital is extremely important in economics because it is also tied together with what?
(a) Collateral.
(b) Inflation.
(c) Security.
(d) Productivity.

4. What is a political thesis of Kim Il-sung which says that the Korean masses are the masters of the country's development?
(a) Marxism.
(b) The Juche Idea.
(c) Capitalism.
(d) The Communist Manifesto.

5. With uniform rules and regulations, the cost of doing business in the private sector is what, according to the author in Chapter 3?
(a) Maintained.
(b) Raised.
(c) Prohibitive.
(d) Lowered.

Short Answer Questions

1. 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 second?

2. What does OPEC stand for?

3. Ross Perot ran for President of the United States in what year?

4. According to the author, insurance companies want to save money while doctors want to help patients and avoid what?

5. What country withdrew from OPEC in 2008 after it became a net importer of oil?

(see the answer key)

This section contains 261 words
(approx. 1 page at 300 words per page)

View a FREE sample