W H AT I S E C O N O M I C S ?
Answers to the Review Quiz
Page 28
1.
Explain how we read the three graphs in Figs. A1.1 and A1.2.
The points in the graphs relate the quantity of the variable measured on
the one axis to the quantity of the variable measure
percent of total income. On the average, men earn more than women,
whites more than non-whites, and college graduates more than high
school graduates.
2.
Use headlines from the recent news to illustrate the potential for
conflict between self-interest and
Explain what it means to choose at the margin and illustrate with three
choices at the margin that you have made today.
Choosing at the margin means choosing to do a little more or a little less
of some activity. Three common examples students encounter a
or internships, less time to spend with friends, and additional tuition and
other class-related expenses if the class I not one that would be taken
otherwise. The choice is rational as long as the student determines that
taking summer classes offers the h
Answers to the Study Plan Problems and
Applications
1.
Apple Inc. decides to make iTunes freely available in unlimited
quantities.
a. Does Apples decision change the incentives that people face?
Apples decision changes peoples incentives. For example, it
Answers to Additional Problems and Applications
7.
Rapper Offers Free Tickets for Concert
Eminem will hit the road with Rihanna offering an awesome deal
buy one and get one free!
Source: Mstars News, February 24, 2014
When Eminem gave away tickets, what w
Cost of Sochi Winter Olympics
The Russian government spent $6.7 billion on Olympic facilities and
$16.7 billion upgrading Sochi area infrastructure. Sponsors spent
$27.6 billion on hotels and facilities hoping to turn Sochi into a yearround tourist magnet
CHAPTER 11. CLASS
DIAGRAM
Introduc8on
Func8onal models represent system behavior
Structural models represent system objects and their
rela8onships:
People
Places
Things
Structural Models
Drawn using an itera8ve proce
CHAPTER 13
SEQUENCE DIAGRAMS
Sequence Diagrams
The sequence diagram is used primarily to show the interactions
between objects in the sequential order that those interactions
occur. Much like the class diagram, developers typically think
sequence diagram
CH12
.
Which of the following is not associated with database design?
Answer: b
The most common style for a logical database model is the:
Answer: a
During logical database design, the work of all systems development team members is coordinated and shared
1. A (n) _ of an analysis class is where the behavior of the class is defined.
ANS:Operation
2. A-kind-of relationships represent _ relationships.
ANS:Generalization
CRC cards are used to document the responsibilities and collaborations of
a(n) _.
ANS:Cla
116
1.The three main constructs of the entity-relationship modeling notation include each of the following
except: b. data flows
2.A named property or characteristic of an entity that is of interest to the organization defines:
a. attribute
3.For each ent
Name:
Student number:
Class:
MBJZ03 Intermediate Econometrics I
Quiz 2
Q1: Can we estimate the following model by using OLS? Why?
= + +
Q2: Consider the linear regression model given by
y = 0 + 1 +
and suppose you are given the following data:
y
x
2
4
MBJZ03 Intermediate Econometrics I
Quiz 1 Answer key
Q1:
(1) P() = 6 > 0, x = 1,2,3
1
2
3
(2) 3=1 () = 3=1 6 = 6 + 6 + 6 = 1
This equation is a probability density function
Q2:
z
(a) = 10 2 6;
20 xy .
y
(b) z = 6x,
z
z
0.
6;
x
y
3 1
1 2
Q3: The inverse
Name:
Student number:
Class:
MBJZ03 Intermediate Econometrics I
Quiz 2
Q1: Can we estimate the following model by using OLS? Why?
=
Hint: this model is not linear but it can apply a suitable transformation into linear.
Q2: Given the regression results b
Name:
Student number:
Class:
MBJZ03 Intermediate Econometrics I
Quiz 1
Q1: Is the following equation a probability density function? Show your working
progress!
P() =
( 3 3)
7
for x = 2,3.
Hint: P() is a probability density function if 1) P() 0, < x < , 2
Name:
Student number:
Class:
MBJZ03 Intermediate Econometrics I
Assignment 2
Instructions: This assignment is due in Week 8. Hand in your work in your class in
week 8 (10/26). No extensions will be given, and late assignments will receive no
credit. If yo
Create a relation with primary key and nonkey attributes is the relational representation for
which E-R structure?
b. regular entity
A binary one-to-many relationship in an E-R diagram is best represented by:
b. adding the primary key attribute (or attrib
CH10
Which of the following specifies that if an entity instance of the supertype is a member of one subtype
it cannot simultaneously be a member of any other subtype?
c. disjoint rule
Which of the following specifies that each instance of an entity type
International Trade Exercises: Ch 4 Specific Factors Model
1. In the specific factors model, which of the following is treated as a specific factor?
A) land
B) labor
C) cloth
D) food
E) technology
2. The slope of a country's production possibility frontie
Bill
Bertha Bob
Majority Vote Results
x beats y
Bill
Bertha Bob
x
y
z
x
y
z
y
z
x
y
z
x
z
x
y
z
x
y
Majority Vote Results
x beats y No
y beats z socially
z beats x best
alternative!
Majority voting does
not always aggregate
transitive individual
preferenc
Coconuts
More preferred
Technology: Labor produces output
(coconuts) according to a concave
production function.
24
RCs firms profit is = C - wL.
= C - wL
C = + wL, the
equation of an isoprofit line.
Slope = + w .
Intercept = .
0
Leisure (hours)
6
Coconut
2
Edgeworth and Bowley devised a
diagram, called an Edgeworth box, to
show all possible allocations of the
available quantities of goods 1 and 2
between the two consumers.
B
1
OB
2
6
B
2
OA
A
6
B
8
A
2
4
B
2
B
1
2
6
Width =
2
B
1
6
2
B
2
The
endowment
all
Similarly, given y1, firm 2s profit function is
Suppose firm 1 takes firm 2s output
level choice y2 as given. Then firm 1
sees its profit function as
1
1
2
1
2
1
1
2
1
1
2
2
2
Firm 1s reaction curve
y2
2
2
y1
60
So, given y1, firm 2s profit-maximizing
out