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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. According to Burton G. Malkiel in the Forward, economists often don't show a connection to what?
2. According to the author, financial markets boil down to four basic simple needs. What is the second discussed in Chapter 7?
3. What is an economic model of price determination in a market that concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers?
4. According to the author in Chapter 3, it's up to whom to consider the broad social consequences of decisions In a market economy?
5. Economists ignored signs of problems in what year because they didn't want to face what might happen in the future, according to the author in the Introduction?
Short Essay Questions
1. What solution does the author consider for the problem with the black rhinoceros in Chapter 2?
2. What are the second through fourth of the basic needs the author boils down for investment markets in Chapter 7?
3. What do economists assume about human nature and motivation, according to the author in Chapter 1?
4. How does human capital relate to productivity? How does this in turn reflect the economic well-being of a nation, according to the author in Chapter 6?
5. How does the author describe the tactics used by OPEC in Chapter 1?
6. What human fallacies does the author address in the beginning of Chapter 7?
7. What investment tactic is recommended for the average investor without much expertise in the market in Chapter 7?
8. How is the question of income security answered by the author in Chapter 6?
9. What are the ramifications of decisions made in the world of finance and legislation, according to the author in the Introduction?
10. How do the resources of a country reflect its economic well-being, according to the author in Chapter 6?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
Analyze and discuss recent governmental decisions which impact the economy and environment. What legislation has passed regarding oil drilling and fracking? How do these examples relate to the author's views on the government's role in environmental issues?
Essay Topic 2
Define and discuss stock averages and index funds. What are mutual funds and how are they implemented in an investment strategy? What are ways suggested by the author to minimize risk when investing? What is "insider trading" and how does it impact the economy as a whole?
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 1,011 words (approx. 4 pages at 300 words per page) |
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