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Unformatted text preview: a) You debate using a Saturday afternoon to (1) nap or (2) work on this assignment. b) The Oswego County legislature, facing a large budget deficit, debates over whether to (1) increase property taxes 35% or (2) increase property taxes only 15% and lay off 100 county workers 3. (4 points) Looking at data on married households, economists find that husbands whose wives work earn less on average than husbands whose wives are not in the labor force. I then conclude that I should quit my job to boost my husbands earnings. Describe what is wrong with my economic analysis. 4. (4 points) Explain whether each of the following statements is positive or normative. a) ExxonMobil posted record profits in the 4th quarter of 2006. b) Oil Company profits are too high. 2...
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- Spring '11