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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What is the process of contracting a business function to someone else?
(a) Outsourcing.
(b) Managing.
(c) Investing.
(d) Motivation.

2. What publication commented on the French president's desire to come up with a way to measure human happiness, saying that it's like asking experts to put a number on spiritual matters?
(a) The Economic Times.
(b) The Economist.
(c) The Wall Street Journal.
(d) Investors Business Daily.

3. What is the ninth factor one should consider along with the GDP to understand an economy, according to the author in Chapter 9?
(a) Current account surplus/deficit.
(b) Total national happiness.
(c) National savings.
(d) Income inequality.

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?
(a) Dust.
(b) Floods.
(c) Predator species.
(d) Disease.

5. 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?
(a) Demographics.
(b) Poverty.
(c) National savings.
(d) Income inequality.

6. What is the appropriation of government spending for localized projects secured solely or primarily to bring money to a representative's district?
(a) Deductive reasoning.
(b) Pork barrel.
(c) Perverse incentives.
(d) Public policy.

7. In Chapter 9, the author discusses how fifteen years ago what nation was on top of the world economically?
(a) Spain.
(b) India.
(c) Canada.
(d) Japan.

8. What does ERM stand for?
(a) Education Resource Mechanism.
(b) Electronic Remanufacturing Market.
(c) European Exchange Rate Mechanism.
(d) Environmental Rarity Market.

9. What refers to a currency which is expected to fluctuate erratically or depreciate against other currencies?
(a) Hard currency.
(b) Dark currency.
(c) Light currency.
(d) Soft currency.

10. When was the first edition of "Naked Economics: Undressing the Dismal Science" published?
(a) 1997.
(b) 2006.
(c) 1995.
(d) 2002.

11. From 1997 to 2002, Charles Wheelan was the Midwest correspondent for what publication?
(a) The Economic Times.
(b) The Wall Street Journal.
(c) Investors Business Daily.
(d) The Economist.

12. Americans today are how many times as rich as an American in the 1940s according to the author in Chapter 9?
(a) 14.
(b) 2.
(c) 5.
(d) 10.

13. In the year 2000, a pair of stockings on average would cost how much, according to the author in Chapter 9?
(a) $4.
(b) $11.
(c) $7.
(d) $2.

14. The United Nations Monetary and Financial Conference was commonly known as what?
(a) The Yosemite Falls conference.
(b) The San Diego conference.
(c) The New York and Europe conference.
(d) The Bretton Woods conference.

15. In many countries, the negative effects of the Great Depression lasted until the start of what?
(a) The Korean War.
(b) Vietnam.
(c) World War II.
(d) World War I.

Short Answer Questions

1. The Chinese GDP has grown substantially over the past decade, yet its success is correlated to what, according to the author in Chapter 9?

2. India has a very low GDP per capita, and it also has over how many cases of leprosy according to the author in Chapter 9?

3. 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 eighth?

4. When did the United Nations Monetary and Financial Conference take place?

5. The United Nations Monetary and Financial Conference was a gathering of delegates from how many nations?

(see the answer keys)

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