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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. The GDP does not consider economic activity that is what, according to the author in Chapter 9?

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

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

4. Of the top 25 polluted cities in the world, how many are in China according to the author?

5. Incomes rose between 1970 and 1999, yet those who described themselves as as "very happy" decreased from 36% to what?

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

3. What are the motivations of those receiving subsidies, as described by the author in Chapter 8?

4. What did Mark Miringhoff propose as a measure for economies, as described in Chapter 9?

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

6. What did the French president propose in measuring economies, as described in Chapter 9? What criticism did he receive?

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

8. What are the benefits of the HDI versus the GDP according to the author in Chapter 9?

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

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

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 2

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?

Essay Topic 3

Describe and analyze the Hope Scholarship program and the Clinton Administration. When were Hope Scholarships introduced and when did they dissipate? How are Hope Scholarships used as an example of adverse selection in the book? What are other examples where adverse selection can be seen in recent history?

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