ECON 160 FINAL - Name_ Dr. Phillips Dr. Votey Economics 160...

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Name______________________________ Dr. Phillips Economics 160 Spring 2003 Dr. Votey FINAL EXAMINATION (possible points 300) Part I (40 minutes) Answer all 40 questions. Choose the BEST answer and mark your Scantron Sheet accordingly. 80 Points . 1. The Economic Paradigm a. is an illustration of the fact that when, as a society, we act to maximize economic growth or income, we are acting to improve equity. b. provides an approach to achieve "best" economic outcomes, but it rarely works when there are effective markets. c. explains the growing lack of accountability among the managers of major corporations that recently has come into the public eye. d. none of the above. e. spells out the approach that any rational and thinking person applies to the solution of personal problems and it applies equally well to resolving the problems of nations and communities. 2. The Economic Paradigm a. has five steps: 1. Enunciation of the ethical rules that must apply, 2. Enumeration of the entities involved, 3. A clear statement of objectives, 4. Analysis of the tax rules, and 5. Alternative estimates of the gains to be achieved. b. helps to explain the policy of the Bush presidency of creating a massive tax cut to force a greater federal deficit and thus also force a cut in federal spending. c. has three steps: 1. Specification - of the possible outcomes, 2. Valuation of each of the outcomes, and 3. Optimization, i.e., selecting the "best" among the alternatives. d. is a functional relationship specifying the processes and factors, such as lack of economic opportunities and the deterrent effects of law enforcement that influence individuals to commit or not commit crimes against other individuals and society. e. none of the above. 3. The concept of moral compliance with the law a. makes no sense in economic theorizing since useful theory cannot incorporate elements that are essentially not measurable. b. has been shown to have no bearing on crime participations by individuals in a modern society c. has no place in discussions of public policy since moral choices are made for personal reasons. . d. helps to explain why logic based on measurable costs and benefits of committing a crime is often inadequate to explain individual behavior in regard to crime participation. e. none of the above. 4. Participation in crime by women a is primarily limited to crimes of passion. b. grew more rapidly over the ‘70’s and ‘80’s than crimes by men as women were gaining more control over their own lives. c. appears to be unrelated to marital status or employment opportunities. d. has grown over the '70's and '80's as marriage rates have declined, and divorce rates and unemployment rates for women have risen. e. b. and d. 5. Rehabilitation of imprisoned felons a. once thought of as a primary objective of imprisonment, has become regarded as generally a failure.
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This note was uploaded on 10/18/2010 for the course ECON 160 taught by Professor Phillips,l during the Spring '08 term at UCSB.

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ECON 160 FINAL - Name_ Dr. Phillips Dr. Votey Economics 160...

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