Jump to navigation
Macroeconomics Quiz 1: Monetary Matters
With final exam week in full swing for your host here at The Dark Wraith Forums, it seems appropriate to spread the joy beyond the classroom. The subject matter of the quiz herewith offered is macroeconomics, and the questions involve monetary policy and its effects on interest rates, exchange rates, and international trade. As I frequently tell my students when handing out exams, this is an easy test. In fact, I am embarrassed by how easy it is. Indeed, it's almost an insult to the intelligence of the test takers to waste their keen minds on an assessment instrument so trifling. Needless to say, my students know better than to believe me when I tell them such nonsense.
Take this quiz, see how you do, then rant about it in comments. Ask questions if the correct answers aren't obvious to you. Above all, though, remember that it's just economics, and economics has nothing whatsoever to do with the real world.
The Dark Wraith anticipates excellent scores from everyone.
Good evening, Dark Wraith.
I am embarrassed by how easy it is. Indeed, it's almost an insult to the intelligence of the test takers to waste their keen minds on an assessment instrument so trifling.
Was there more after the above?
Once I read to that point, I figured you knew what you were talking about, and if it's so easy, why, I didn't want to be called a poor slob... :)
...And good luck with that global warming.
Hey, that's how Capt. Kirk passed this test!
The Dark Wraith awaits some reports of scores... just to put his mind at ease about how trifling this test really is, of course.
"The Dark Wraith anticipates excellent scores from everyone."
The Dark Wraith feels the love.
Good Morning, Dark Wraith.
I was stunned (and quite pleased) to eke out a score of 60%, as I thought I new as much about economics as I do... well, I can't really think of anything that I feel I know less about than economics.
Glad I didn't do any better, I have few enough friends as it is!
Good evening, Phydeaux Speaks.
The Dark Wraith didn't make this test nearly hard enough if someone's actually passing it.
Good Morning DW,
I scored a lowly 40percent. But then, I was a Psych major and I don't even balance my own checkbook. Isn't that what husbands are for?
60% but i have ortho procedures and chocolate on the brain this morning. high finance is something best tackled after more coffee.
good morning dark wraith:
60% is considered passing? are you teaching the kids on basketball scholarships again? you promised not to do that anymore.
Good morning, Minstrel Boy.
In the traditional grading system,
90% to 100% = A
80% to 89% = B
70% to 79% = C
60% to 69% = D
0% to 59% = F.
Hence, 60% is a flat, bottom-of-the-barrel grade of "D."
It is, nevertheless, not a failing grade, although the credit for the course wouldn't count in the major.
That old, traditional scoring rule above has been "modified" in some elementary and high schools so everything is notched up: for example, an "A" is from 94% to 100%, and a "B" is from 86% to 93%. For the most part, this innovation is for nothing other than silly, disingenuous show so the schools can look like they're Gittin' Tuff on educational standards.
In reality, that altered, "tougher" scoring system means nothing. Either the teachers inflate grades back to the old standard, or more kids are scored lower and end up going to lower-end colleges, just get jobs out of high school, or enlist.
But as to your question about athletes, not only do I have lots of stories from the past I could tell (from one of the biggest sports-crazed universities in the world, no less), but just when I thought I was safe from that whole world of sports-tainted higher education, it has come full-swing right back into my face.
This time, the Dark Wraith is more than prepared for the nonsense, though.
"What have we learned?"
To make sure that the corresponding buttons are properly selected for every answer. And, it doesn't count if you know the correct answer and didn't make a selection. Duh.
Good afternoon, Dark Wraith.
I took the quiz, and got a 50%. Considering I'm pretty uninformed about economics, I feel proud. Not that being uninformed about economics these days is good, but still.
At some point in the deep, scary, past, Dark Wraith taught me both basic Economics and Financial Management (in person). I am sorry to say that I scored a mere 80% on the quiz. I missed the question about China's fixed 8.28 exchange rate as well as the question about the bond prices. This is further saddened by the fact that I recall that each question is directly from one of Dark Wraith's finals.
Indeed, LawyerKid1, those are directly from old finals.
Still, 80% is pretty darned good considering it was some time ago that you endured those courses with me.
The Dark Wraith expects to see you in a refresher course next semester.
I refuse to take this test until someone trims the bangs on that unfortunate (former) person in the graphic!
50% (after I went back and clicked the correct answer I apparently didn't fill in the first time-or the 'puter ate it). 2 of them I would have gotten if I had read the pertenent articles more recently, but recalling which of the two mirror image answers was correct was a bit too much tonight.
Not passing a pop-final(as opposed to a pop quiz) doesn't faze me much, as it proves that I do have a life. I do often wonder how I would fare taking a standard GED test cold, just to see if I have retained a minimum of what I learned in high school. I never have simply because I refuse to pay to take it :)
In other economics related news:
The Implet turned 8 Saturday, the Mu turns 4 on Sunday, then Christmas, Solstice, and New Years, while we are still finishing up Hannakah presently. December is tooooo busy. Add the frustration of being broke and drooling over the toys at DW's store fronts, and I am one pissed Clover.
Oh well, the Thrift Shop often has cool gifts, though Implet told me when I informed me I was not taking them out for dinner in order to save $$$ and bemoaning not being able to get a few pricy items i had wanted to, told me the most wonderful of things: "Mom, we can just skip Christmas this year. As long as we can pay for our house and cars and stuff and be happy, it doesn't matter." Of course, thus speaks the boy who has a crap-load of gifts from two birthday celebrations already, and a couple giant boxes on the porch filled with loot from Grandma and Grandpa for him and his brother.
But I've got a cool big boy (and little one too for that matter). Which makes me a lot richer than a lot of people with money.
Good evening, Wild Clover.
A few minor things will be in the mail to you on Friday.
The Dark Wraith says, "Ho-ho-ho."
I got 90%...and I'm busy alienating all my friends talking about nothing but macroeconomics. (I missed the one about the public debt; I put 4.1 trillion.) I only wish I scored that high on the grammar quiz.
I have gotten far too rusty. I scored 60%. Matters involving the bond markets are something I have to continuously reread or crucial details fly out of my head quite rapidly. Thus I was burned.
Good afternoon, OddJob.
I should probably publish a post in which I once again run through the relationships among bond prices, yields, interest rates, risk, expectations, and the supply of and demand for credit instruments.
Of course, with a list like that, the verb phrase "run through" should probably be replaced with something like "slog through."
The Dark Wraith might need to get himself a big plow.
The Dark Wraith might need to get himself a big plow.
Why does this sound vaguely obscene?
Become a Registered Commenter