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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. What is the financial system consisting of institutions and regulators that act on the international level, as opposed to those that act on a national or regional level?
3. What is the third simple need of financial markets, as discussed in Chapter 7?
4. What is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames?
5. What country withdrew from OPEC in 2008 after it became a net importer of oil?
Short Essay Questions
1. What is the difficulty of studying economics, according to the author of the Foreword? What is the role of economics in everyday activities?
2. What is the first of the basic needs the author boils down for investment markets in Chapter 7?
3. How does the author describe the tactics used by OPEC in Chapter 1?
4. Who wrote the book's Foreword? What does this individual say regarding the perception of economics and economists?
5. How has the market economy contributed to a higher standard of living in America, according to the author in Chapter 1?
6. How does the author describe the concept of "trade-offs" in Chapter 1? How do trade-offs apply to individuals and to the economy?
7. How does the health of the economy affect income inequality, according to the author in Chapter 6?
8. Discuss the importance of information in economics. How does the author address the issue of information in Chapter 4?
9. What stereotypical scene does the author depict of an economics student in the Introduction?
10. How does the author describe the concept of maximizing profits in Chapter 1? What examples does he give?
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
Describe and discuss the history and economies of Cuba and North Korea. How have these economies suffered from overregulation, according to the author? What are the differences between Communist and capitalist nations regarding regulation and trade?
Essay Topic 3
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?
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This section contains 964 words (approx. 4 pages at 300 words per page) |
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