Finaltestbank - PAST FINALS QUESTION BANK[Correct answers...

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QUESTION BANK [Correct answers are enclosed in square brackets. You will note that there is some repetition in coverage compared to the midterm. Finals in Economics 107 exclude economists discussed before the midterm. They include conceptual material developed before the midterm. ] LANGUAGE OF THE COURSE 1. A September 1979 National Geographic article has an illustration of a hunting party in Wyoming, 11,000 years ago that is herding with stone-tipped lances and spears a wounded mammoth into a dead-end-arroyo. This archaeological reconstruction provides evidence that there was: a. an economic conversation that preceded the hunt. b. this tribe had an economic arrangement involving a number of persons. c. that the tribe was part of an economic system. [d]. a and b. 2. Schumpeter makes a distinction between "economic thought" and "economic analysis". The hunters in Wyoming when they [or their leader] worked out the optimal way to trap a mammoth were engaged in: a. economic thought. b. economic analysis. [c]. neither. . 3. A passage in Sunday's Los Angeles Times [8/2/98, p A1] contains this description: "What seems clear is that an exceedingly thin line exists between prosperity and stagnation in a world where jittery currency traders in London affect rice farmers in Indonesia, cost-conscious Tokyo homemakers influence beef prices in the Midwest, and the fate of the Silicon Valley's biggest players could be determined by a cadre of Communist officials in Beijing." This passage describes: a. world economic arrangements. b. the world economic system. [c]. a and b. 4. Schumpeter's classical situation is a period in economics: a. when there is fundamental disagreement about what are the important political issues of the day. b. when there are different theories for the same problems. [c]. when there is substantial agreement amongst economists of that period on important issues and theories. d. refers to debates in Greek and and in Rome. 5. Schumpeter lists the following classical situations: a. the period after the publication of the Wealth of Nations. b. the period after the publication of Mill's Principles of Political Economy. c. the period after the publication of Marshall's Principles of Economics. He doesn’t mention Marshall’s Principles though. d. These are the only classical situations he lists. [e]. all of the above. EPISTEMOLOGY {theories of knowledge} 6. Some celebrated epistemological issues are: a. metaphysical monism [Parmenides] versus metaphysical pluralism [Heraclitus]. b. theism versus atheism. c. moral relativism versus moral objectivism. d. innate ideas versus tabula rasa. e. tabula rasa versus {genetic endowment + conversational endowment}. [f]. all of the above.
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This note was uploaded on 06/25/2008 for the course ECON 101 taught by Professor Buddin during the Spring '08 term at UCLA.

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Finaltestbank - PAST FINALS QUESTION BANK[Correct answers...

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