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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 rhetorical question do economists ask, according to the author in Chapter 1?
2. When did the Cuban Revolution begin?
3. What refers to reasoning which constructs or evaluates deductive arguments?
4. What is a mathematical equation for an unknown function of one or several variables that relates the values of the function itself and its derivatives of various orders?
5. What are negative results which occur while trying to achieve a goal for the common good?
Short Essay Questions
1. What is the first of the basic needs the author boils down for investment markets in Chapter 7?
2. What examples does the author give for the uninformed relaying false information in the Introduction?
3. How does the author address the question of "getting rich quickly" in the market in Chapter 7?
4. How has the market economy contributed to a higher standard of living in America, according to the author in Chapter 1?
5. How does the author describe the tactics used by OPEC in Chapter 1?
6. How is adverse selection described in the example of Hope Scholarships in Chapter 4?
7. 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?
8. What example does the author give for the negative effect of incentives in Chapter 2?
9. 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?
10. Discuss the importance of information in economics. How does the author address the issue of information in Chapter 4?
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 discuss the stock market and the New York Stock Exchange. How are the following terms used in Chapter 7 defined: risk, speculation, investment, derivatives, capital? What four basic needs to understand investment are discussed in Chapter 7?
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This section contains 929 words (approx. 4 pages at 300 words per page) |
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