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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 refers to a market where prices are determined by supply and demand?
2. Ross Perot ran for President of the United States in what year?
3. In what year did the French government try to address its unemployment rates with what the author calls the economic equivalent of fool's gold?
4. Arab members of OPEC alarmed the developed world when they used the "oil weapon" during what war by implementing oil embargoes?
5. What is an investment position intended to offset potential losses that may be incurred by a companion investment?
Short Essay Questions
1. What investment tactic is recommended for the average investor without much expertise in the market in Chapter 7?
2. How is the black rhinoceros described in Chapter 2? What are the horns of the animal worth in Yemen, and why?
3. How does the author of the Foreword describe the focus the book of "Naked Economics: Undressing the Dismal Science"? Does he find it balanced? Why?
4. Discuss the importance of information in economics. How does the author address the issue of information in Chapter 4?
5. How does the author address the question of "getting rich quickly" in the market in Chapter 7?
6. What is the basic set of rules put forth by the author for those looking to invest in Chapter 7? How are risk and reward described?
7. Who wrote the book's Foreword? What does this individual say regarding the perception of economics and economists?
8. What do economists assume about human nature and motivation, according to the author in Chapter 1?
9. How has the market economy contributed to a higher standard of living in America, according to the author in Chapter 1?
10. What is the first of the basic needs the author boils down for investment markets in Chapter 7?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
Discuss and analyze the author's Introduction to the book. What role does Wheelan propose economics and finance has in everyday life? What, according to the author, led to the problems with Lehman Brothers? What examples does the author use for politicians using false information?
Essay Topic 2
Describe, analyze and discuss the healthcare and insurance industries in the United States. What national legislation was recently passed which broached the issues of healthcare? How effective was this legislation? How do these industries represent inequality in regard to information?
Essay Topic 3
Define and discuss perverse incentives in economics. What example is used from Mexico City in Chapter 2? When did this governmental action take place and what results came of the actions? How was the pollution of Mexico City affected by legislation?
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This section contains 971 words (approx. 4 pages at 300 words per page) |
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