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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. What is the capital of the Democratic People's Republic of Korea?
2. North Korea is a single-party state under a united front led by what party?
3. When was Gary Becker born?
4. In finance, what is a derivative financial instrument that specifies a contract between two parties for a future transaction on an asset at a reference price?
5. Gary Becker is a professor of economics, sociology at what institution?
Short Essay Questions
1. How do the resources of a country reflect its economic well-being, according to the author in Chapter 6?
2. What examples does the author give for the uninformed relaying false information in the Introduction?
3. How does the author describe the concept of maximizing profits in Chapter 1? What examples does he give?
4. What is the first of the basic needs the author boils down for investment markets in Chapter 7?
5. How is the question of income security answered by the author in Chapter 6?
6. How has the market economy contributed to a higher standard of living in America, according to the author in Chapter 1?
7. How does the author describe the tactics used by OPEC in Chapter 1?
8. How is branding described as an economic strategy in Chapter 5?
9. How does the author address the question of "getting rich quickly" in the market in Chapter 7?
10. What example does the author give for the negative effect of incentives in Chapter 2?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
Discuss the use of stock options as a means to develop company loyalty. Why does Michael Jenson oppose stock options? What does he refer to them as in Chapter 2? What, according to the author, motivates talented teachers to leave to go onto other professions?
Essay Topic 2
Describe and discuss the circumstances and impacts of monopolies. What are examples of recent monopolies in the U.S.? How were these monopolies dealt with? What governmental regulations ensure against monopoly? What does the author say can be learned from monopolies?
Essay Topic 3
Describe and analyze the author's concepts of productivity, education, and standard of living in Chapter 6. How does productivity relate to human capital? How does education relate to human capital and standard of living? How has education changed in the past 20 years?
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This section contains 861 words (approx. 3 pages at 300 words per page) |
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