Study for Quiz 5

Key Ideas to Study for Quiz

The quiz consists of 12 points. There are 8 multiple choice questions and 4 True-False questions. Each is worth one point with only one correct answer.

Key Questions to study (in no particular priority or order):

  1. What are the central arguments in Lynn and Longman article on “Who Broke America’s Jobs Machine”.
  2. Does Stiglitz argue that free financial markets work well or not?  Why?
  3. Simon Johnson sees the international banking and financial industry changing in what ways?
  4. In theory, what is the function of banks in an economy?
  5. What is Simon Johnson’s “doom cycle”?
  6. Under what conditions could a government debt default be possible? Not possible?

Important terms:

  • TBTF
  • oligarchy
  • Eurozone
  • sovereign currency

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