View a FREE sample

This test consists of 5 multiple choice questions, 5 short answer questions, and 10 short essay questions.

Multiple Choice Questions

1. What refers to law which has been enacted by a legislature or other governing body, or the process of making it?
(a) Hedge.
(b) Gresham's law.
(c) Legislation.
(d) Trade-off.

2. The author writes that trade helps the economy by doing what, in Chapter 12?
(a) Making goods more abundant.
(b) Encouraging sales and special offers.
(c) Lowering the cost of goods for consumers.
(d) Increasing the quality of goods.

3. What is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market?
(a) Interdependent exchange rate.
(b) Subsidized exchange rate.
(c) Floating exchange rate.
(d) Inflationary exchange rate.

4. After World War II, representatives of the Allied nations gathered together where to create a sustainable financial infrastructure for the world?
(a) Michigan.
(b) New Hampshire.
(c) Missouri.
(d) Rhode Island.

5. When did the United Nations Monetary and Financial Conference take place?
(a) 1970.
(b) 1944.
(c) 1932.
(d) 1961.

Short Answer Questions

1. What is the process of contracting a business function to someone else?

2. From 1997 to 2002, Charles Wheelan was the Midwest correspondent for what publication?

3. In France, what president wanted to come up with a way to measure human happiness, as described in Chapter 9?

4. In economics, what is a rise in the general level of prices of goods and services in an economy over a period of time?

5. According to the author in Chapter 11, the problem with this gold standard was the central bank could do what?

Short Essay Questions

1. How are fixed exchange rates defined and described in Chapter 11?

2. How do poor countries benefit by outsourcing and global trade, as described by the author in Chapter 12?

3. How does the author illustrate time and price value in America in Chapter 9?

4. How is the Federal Reserve described in Chapter 10? What is the role of the Fed?

5. Discuss the growth rate of globalizing countries as discussed in Chapter 12. How did the globalizing countries benefit?

6. What is the ERM? What is its role according to the author in Chapter 11?

7. What does the author assert nations need beyond natural resources in order to succeed in Chapter 13?

8. How does the author describe the recessions of the U.S. and the Japanese in Chapter 9?

9. What does the author remark about globalization in the beginning of Chapter 12? What are the benefits of global trade?

10. How does the author describe public policy in Chapter 8? What problems do politicians face in this area?

(see the answer keys)

This section contains 932 words (approx. 4 pages at 300 words per page) View a FREE sample