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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 the author in Chapter 9, the average wage of an American in the year 2000 was over how much hourly?
2. In economics, what refers to a general slowdown in economic activity?
3. In economics, what is a rise in the general level of prices of goods and services in an economy over a period of time?
4. When did the Great Depression begin in the United States?
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 first?
Short Essay Questions
1. In the example given in Chapter 11 of Argentina borrowing the reputation of the U.S., what was the outcome?
2. How are the complications of international exchange rates described in Chapter 11?
3. What is the ERM? What is its role according to the author in Chapter 11?
4. What did the French president propose in measuring economies, as described in Chapter 9? What criticism did he receive?
5. What does the author assert nations need beyond natural resources in order to succeed in Chapter 13?
6. How do poor countries benefit by outsourcing and global trade, as described by the author in Chapter 12?
7. How is the decline of Iceland's economy described in Chapter 11?
8. How is the Federal Reserve described in Chapter 10? What is the role of the Fed?
9. How is the gold standard described in Chapter 11? What is the problem with the gold standard?
10. Discuss the relationship between wealth and happiness. How is this illustrated in Chapter 9?
Essay Topics
Write an essay for ONE of the following topics:
Essay Topic 1
Discuss the career of economist Burton G. Malkiel and the efficient market hypothesis. When was the efficient market hypothesis developed? What ideas are presented in Malkiel's "A Random Walk Down Wall Street"? What does Malkiel write in the Forward to "Naked Economics: Undressing the Dismal Science"?
Essay Topic 2
Discuss the author's example from Chapter 2 involving Yemen and the black rhinoceros. What is the value of the black rhino's horns and why are these horns so highly sought after? How does he describe the role of ecotourism as an environmental and economical solution? When did ecotourism first develop?
Essay Topic 3
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?
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This section contains 898 words (approx. 3 pages at 300 words per page) |
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