FinalExam_2018.docx - Ec323 Final Exam 2018 Professor Fisman Page 1 of 6 Instructions This test consists of 10 multiple choice questions followed by 6

FinalExam_2018.docx - Ec323 Final Exam 2018 Professor...

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Ec323 Final Exam 2018 Professor Fisman Page 1 of 6 Instructions This test consists of 10 multiple choice questions followed by 6 short answer questions, with a total of 78 points available. You have 120 minutes (12:30 – 2:30pm) to complete the test. Make sure to put your name and BU ID This is a closed book test. You may not use your computer, phone, notes, calculator…anything other than a pen (and a ruler if you like) during the test. Please enter your multiple choice answers on the first page of your blue book. For the short answer questions, don’t write random stuff: You’ll be rewarded for correct answers and penalized for irrelevant/incorrect content. Good luck!
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Ec323 Final Exam 2018 Professor Fisman Page 2 of 6 Multiple Choice (2 points each) 1.Surveys done right before the midterm elections last month (when images of a caravan from Honduras were often appearing on national TV) found that voters vastlyoverestimated the fraction of Americans that were born in a foreign country. This is an example of: a.The availability heuristic b.The base rate fallacyc.The hot hand fallacyd.The representativeness heuristic e.None of the above 2.Based on findings discussed in class on consumer inattention, a government should consider: 3.Powerball lottery ticket buyers were randomly approached and offered twice what they paid for the tickets (while standing next to the place of purchase, so the tickets could be replaced). Most people refused the offer. This is a result of: 4.In his study of retail investors, Odean argues that loss aversion will lead individuals to:
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  • Fall '09
  • NOORBUTT
  • Hip replacement, Professor Fisman

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