Exam one particular

 Essay regarding Exam you

WomenВ andВ theВ EconomyВ EconВ 3090В SpringВ 2015В

ExamВ 1В

1 . InВ thisВ course, В weВ relyВ onВ anВ approachВ inВ neoclassicalВ economicsВ calledВ constrainedВ search engine optimization, В whichВ canВ beВ describedВ as: В

a. costВ minimizationВ withВ constraintsВ

b. makingВ choicesВ thatВ willВ maximizeВ wellВ­being, В withВ theВ choicesВ limitedВ byВ constraints, В suchВ asВ aВ timeВ constraintВ orВ budgetВ constraintВ c. makingВ choicesВ thatВ maximizeВ utilityВ whenВ pricesВ andВ quantitiesВ areВ constrainedВ m. minimizingВ expendituresВ onВ consumerВ goodsВ

2 . AccordingВ toВ theВ textbook, В oneВ ofВ theВ reasonsВ thatВ economistsВ haveВ becomeВ interestedВ inВ studyingВ women'sВ behaviorВ isВ thatВ womenВ areВ moreВ interesting! В WhyВ mightВ economistВ feelВ thisВ way, В accordingВ toВ theВ textbookВ andВ class? В a. economicВ choiceВ modelsВ areВ mostВ usefulВ whenВ studyingВ choicesВ thatВ varyВ overВ timeВ andВ acrossВ individualsВ

b. ResearchersВ canВ getВ betterВ dataВ onВ longВ hairedВ workersВ c. womensВ marriageВ choicesВ areВ notВ influencedВ byВ economicВ factorsВ d. menВ doВ notВ appearВ toВ makeВ choicesВ rationallyВ

e. noneВ ofВ theВ aboveВ

3. WhenВ economistsВ assumeВ thatВ individualsВ areВ rational, В theyВ meanВ thatВ individualsВ a. doВ notВ makeВ choicesВ thatВ seemВ selfВ­destructiveВ

m. haveВ informationВ andВ makeВ consistent, В purposefulВ choicesВ c. haveВ informationВ andВ makeВ choicesВ thatВ focusВ onlyВ onВ investingВ inВ theВ futureВ d. noneВ ofВ theВ aboveВ

TheВ followingВ isВ anВ exampleВ ofВ aВ constrainedВ optimizationВ model, В UseВ thisВ modelВ toВ answerВ theВ 4В questionsВ thatВ follow. В MaximizeВ UtilityВ =В U(F, C)В subjectВ toВ budgetВ constraintВ (thatВ statesВ thatВ theВ individualВ cannotВ spendВ moreВ moneyВ onВ FВ andВ CВ thanВ sheВ hasВ availableВ toВ her). В NoteВ thatВ FВ standsВ forВ foodВ andВ CВ standsВ forВ clothingВ andВ PfВ isВ theВ priceВ ofВ foodВ whileВ PcВ isВ theВ priceВ forВ clothing. В В

4. InВ thisВ model, В PfВ isВ anВ exogenousВ variable, В meaningВ thatВ a. individualsВ chooseВ thisВ priceВ

b. itВ isВ aВ dependentВ variableВ

c. individualsВ treatВ pricesВ asВ " given” (i. eВ outВ ofВ theirВ control)В whenВ makingВ theirВ " best” choicesВ ofВ FВ andВ C. В

g. isВ isВ unknownВ toВ theВ consumerВ

5. TheВ lawВ ofВ diminishingВ marginalВ utilityВ statesВ that: В a. asВ theВ individualВ increasesВ herВ consumptionВ ofВ F, В herВ utilityВ fallsВ b. asВ theВ individualВ increasesВ herВ consumptionВ ofВ C, В theВ extraВ utilityВ fallВ В c. asВ theВ individualВ increasesВ herВ consumptionВ ofВ F, В herВ utilityВ fromВ CВ falls. В В d. asВ theВ priceВ ofВ FВ goesВ up, В theВ quantityВ demandedВ ofВ FВ goesВ down. В В e. noneВ ofВ theВ above. В В

6. TheВ variablesВ thatВ individualsВ areВ choosingВ withinВ thisВ theoreticalВ modelВ areВ calledВ В a. exogenousВ variables. В В

b. independentВ variables. В В

c. correlatedВ variables. В В

d. endogenousВ variables. В В

e. constrainedВ variables. В

7. AccordingВ toВ microeconomicВ theory, В whenВ individualsВ maximizeВ utilityВ usingВ theВ modelВ describedВ above, В theВ resultВ isВ theВ individual'sВ " best" В choicesВ ofВ FВ andВ C, В denotedВ F. В andВ C.. В ThisВ sameВ setВ ofВ " bestВ choices” canВ beВ foundВ byВ theВ individualВ byВ В a. equatingВ utilityВ onВ theВ margin, В whichВ canВ beВ expressedВ as: В AU/AFВ =В AU/AC. В n. equatingВ marginalВ productivity. В В

c. equatingВ utilityВ onВ theВ margin, В whichВ canВ beВ expressedВ asВ MU(max)В =В MU(min)В m. minimizingВ totalВ expenditureВ onВ FВ andВ C. В В

e. NoneВ ofВ theВ above. В В

almost eight. GivenВ theВ followingВ functionalВ representationВ ofВ theВ LawВ ofВ Demand: В QdВ =В F(P, В PricesВ ofВ otherВ goods, В Income, В Preferences). В В

a. IncomeВ isВ anВ endogenousВ variable. В В

b. PreferencesВ cannotВ everВ beВ measuredВ inВ surveyВ dataВ sets. В В c. incomeВ isВ aВ ceterisВ paribusВ factorВ В

m. PriceВ andВ quantityВ demandedВ areВ relatedВ positively. В 9. TheВ LawВ ofВ DemandВ saysВ thatВ anВ increaseВ inВ priceВ leadsВ toВ aВ decreaseВ inВ quantityВ demanded, В ceterisВ paribus. В В

a. ceterisВ paribusВ meansВ " otherВ thingsВ equal'В В

b. CeterisВ paribusВ meansВ " onВ average. " В В

c. CeterisВ paribusВ meansВ " forВ theВ immediateВ future. " В В d. CeterisВ paribusВ meansВ " givenВ existingВ supply. " В В

12. UsingВ theВ supplyВ andВ demandВ model, В comparativeВ staticsВ showВ thatВ В a. anВ increaseВ inВ priceВ leadsВ toВ anВ increaseВ inВ quantityВ demanded, В ceterisВ paribus. В В b....