RMI 2302 NEW FINAL EXAM QUESTIONS AND CORRECT ANSWERS
FULL SET 100% VERIFIED
According to Yong Chen's article, where do derivatives get their value? - ANSWER
Derivatives get their value from other assets
We learned in class that there is a distinction between wants and needs. Which of the
following constrains our wants/needs? - ANSWER Scarce Resources
In the Module 11 reading, economic development is one of the three broad categories of
challenges of an aging population. Which of the following is a challenge of an aging
population specifically related to economic development?
A. Older __ are generally less entrepreneurial
B. Older __ are generally less productive
C. More effective use of capital.
D. All of the above
E. None of the above - ANSWER D.
In the Module 13 reading, the three broad categories of challenges of an aging
population DO NOT include:
A. Health & well-being issues
B. Economic development issues
C. Natural Disaster predictions
D. All of the above are categories of challenges facing the aging
E. None of the above are categories of challenges facing the aging - ANSWER C.
,What does Thomas Bass of "Derivatives: The Crystal Meth of Finance" mean when he
says, "Derivatives do the work of Adam Smith's invisible hand?" - ANSWER Derivatives
transmogrify individual greed into the collective good.
True or False: Each economy possesses resources and technology to use in production.
- ANSWER True
Which of the following is something less developed governments can do to alleviate
poverty? - ANSWER Attract foreign direct investment
GDP measures which of the following? - ANSWER Production
Chen and Bass have different definitions of a derivative. Bass' definition is broader than
Chen's. Bass defines derivatives as: - ANSWER A derivative is something that takes its
value from something else.
True or False: GDP was referred to as the "economic pie." One of the limitations, in this
sense, is that we don't know how the pie is split up. - ANSWER True
Which of the following best describes an accurate implication of the resources and
technology available to a producing country? - ANSWER The production combinations
between resources and technology is virtually limitless.
To what does Chen attribute the high-risk image of derivatives? - ANSWER A number of
spectacular financial failures from 1994 to 2008
Most highly developed countries have gone from high death rates and birth rates to low
death and birth rates. This is defined as (a) - ANSWER Demographic transition
Because risk isn't evenly distributed, which types of countries have the largest
exposure as a percent of GDP to natural disasters? - ANSWER SIDS and LLDC
, In the process of __________, we make plans an take actions to eliminate or reduce the
threat of future death and destruction when natural hazards suddenly become great
threats. - ANSWER Mitigation
Which of the following are examples of mitigation? - ANSWER Building stronger
buildings
Elevating property to avoid flooding
Relocation away from the coast
What would NOT contribute to making a country resilient and strong? - ANSWER High
risk location and low wealth
Which of the following does NOT represent a distinction between a natural disaster and
a great natural disaster? - ANSWER Favorable press
What is another term referring to "great" natural disasters? - ANSWER Megadisasters
Which of the following is NOT a reason that poorer nations are worse off with regard to
natural disasters? - ANSWER Military inefficiency
To calculate the rate of growth a population is displaying, you must measure the
_________ rate and subtract the ________ rate. - ANSWER Fertility; mortality
No two countries have the exact same rate of population growth. Which of the following
is true of population growth? - ANSWER Less developed areas have higher population
growth because of higher birth rates and steady/lower death rates
What kind of relationship is typical between worker productivity and age? - ANSWER
Inverse
FULL SET 100% VERIFIED
According to Yong Chen's article, where do derivatives get their value? - ANSWER
Derivatives get their value from other assets
We learned in class that there is a distinction between wants and needs. Which of the
following constrains our wants/needs? - ANSWER Scarce Resources
In the Module 11 reading, economic development is one of the three broad categories of
challenges of an aging population. Which of the following is a challenge of an aging
population specifically related to economic development?
A. Older __ are generally less entrepreneurial
B. Older __ are generally less productive
C. More effective use of capital.
D. All of the above
E. None of the above - ANSWER D.
In the Module 13 reading, the three broad categories of challenges of an aging
population DO NOT include:
A. Health & well-being issues
B. Economic development issues
C. Natural Disaster predictions
D. All of the above are categories of challenges facing the aging
E. None of the above are categories of challenges facing the aging - ANSWER C.
,What does Thomas Bass of "Derivatives: The Crystal Meth of Finance" mean when he
says, "Derivatives do the work of Adam Smith's invisible hand?" - ANSWER Derivatives
transmogrify individual greed into the collective good.
True or False: Each economy possesses resources and technology to use in production.
- ANSWER True
Which of the following is something less developed governments can do to alleviate
poverty? - ANSWER Attract foreign direct investment
GDP measures which of the following? - ANSWER Production
Chen and Bass have different definitions of a derivative. Bass' definition is broader than
Chen's. Bass defines derivatives as: - ANSWER A derivative is something that takes its
value from something else.
True or False: GDP was referred to as the "economic pie." One of the limitations, in this
sense, is that we don't know how the pie is split up. - ANSWER True
Which of the following best describes an accurate implication of the resources and
technology available to a producing country? - ANSWER The production combinations
between resources and technology is virtually limitless.
To what does Chen attribute the high-risk image of derivatives? - ANSWER A number of
spectacular financial failures from 1994 to 2008
Most highly developed countries have gone from high death rates and birth rates to low
death and birth rates. This is defined as (a) - ANSWER Demographic transition
Because risk isn't evenly distributed, which types of countries have the largest
exposure as a percent of GDP to natural disasters? - ANSWER SIDS and LLDC
, In the process of __________, we make plans an take actions to eliminate or reduce the
threat of future death and destruction when natural hazards suddenly become great
threats. - ANSWER Mitigation
Which of the following are examples of mitigation? - ANSWER Building stronger
buildings
Elevating property to avoid flooding
Relocation away from the coast
What would NOT contribute to making a country resilient and strong? - ANSWER High
risk location and low wealth
Which of the following does NOT represent a distinction between a natural disaster and
a great natural disaster? - ANSWER Favorable press
What is another term referring to "great" natural disasters? - ANSWER Megadisasters
Which of the following is NOT a reason that poorer nations are worse off with regard to
natural disasters? - ANSWER Military inefficiency
To calculate the rate of growth a population is displaying, you must measure the
_________ rate and subtract the ________ rate. - ANSWER Fertility; mortality
No two countries have the exact same rate of population growth. Which of the following
is true of population growth? - ANSWER Less developed areas have higher population
growth because of higher birth rates and steady/lower death rates
What kind of relationship is typical between worker productivity and age? - ANSWER
Inverse
