201-lecture-00-introduction- Final 1

201-lecture-00-introduction- Final 1 - Economics 201 -...

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Copyright 2006, Glen R. Waddell. Econ 201 - Principles of Microeconomics 1 Economics 201 - Principles of Microeconomics Prof. Glen Waddell University of Oregon Spring 2006 www.uoregon.edu/~waddell/201.htm Final Exam: 8:00a, 12 June 2006 “The theory of economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions.” ± Was Ross Perot right in asserting that NAFTA would lead to a “great sucking sound” as jobs left the US for Mexico? ± Faced with double - digit unemployment, the French government lowered the maximum work week from 39 to 35 hours, arguing that there would then be work left over for the unemployed to do. What is Economics, anyway? ± Suppose ten people apply for a position… nine men and one woman. The woman is tied with one of the men as the top candidate and, according to affirmative action policy, gets the job. – Who is helped by affirmative action in this example? – Who is harmed? – Q: Might affirmative action can harm the very relations it intends to heal? What is Economics, anyway? ± Clinton proposed mandating that insurance companies pay for a second night in the hospital following women giving birth. – Women rarely opt for it themselves Æ it is expensive. – If insurance companies have to cover these costs, premiums will increase. – The real question: Would you be willing to pass a law that made some women more comfortable if it meant that some other women would lose coverage for basic care? What is Economics, anyway?
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201-lecture-00-introduction- Final 1 - Economics 201 -...

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