ECON 3230: Exam 1
Feb 23, 2017
1. Multiple Choice (5 points for each question):
(1). Studying inflation in the United States from 1970 to 2006 is an example of
randomized controlled experiments.
time series data.
ECON 3230 Exam 1: Solution
1. BBCDD CACAB
2. (a) 38.2 percent of the presidents were Republicans and were in the White House while Republicans
controlled the House of Representatives. 44.1 percent of all presidents were Democrats.
(b) E(X) = 0.559. E(X =
ECON 3230: Homework 6
Due date: Mar 21, 2017
1. Multiple Choice:
(a) Which of the following statements is true when the dependent variable, y > 0?
a. Taking log of a variable often expands its range.
b. Models using log (y) as the dependent variable will
ECON 3230: Homework 7
Due date: Apr 13, 2017
1. Multiple Choice:
(a) The major flaw of the linear probability model is that
a. the actuals can only be 0 and 1, but the predicted are almost always
different from that.
b. the regression R2 cannot be used as
ECON 3230: Homework 6 Solution
1. Multiple Choice: BBBDA
(a) The turnaround point is given by
sales in millions of dollars.
1 /(2| 2 |), or .0003/(.000000014) 21,428.57; remember, this is
(b) Probably. Its t statistic is about 1.89, which is si
ECON 3230: Homework 4
Due date: Feb 23, 2017
1. Multiple Choice:
(a) Which of the following is true of R2 ?
a. R2 is also called the standard error of regression.
b. A low R2 indicates that the Ordinary Least Squares line fits the data well.
c. R2 usually
ECON 3230: Homework 4 Solution
1. Multiple Choice: DACDB
(i) If adults trade off sleep for work, more work implies less sleep (other things equal), so 1 < 0.
(ii) The signs of 2 and 3 are not obvious, at least to me. One could argue that more e
ECON 3230: Homework 2 Solution
1. Multiple Choice: DBCCA
2. (i) Income, age, and family background (such as number of siblings) are just a few possibilities. It seems that each of
these could be correlated with years of education. (Income and education ar
ECON 3230: Homework 3 Solution
1. Multiple Choice: BDBAA
(a) A person who is one year older increases her weekly earnings by $5.20. There is no meaning
attached to the intercept. The regression explains 5 percent of the variation in earnings.
Report Information from ProQuest
April 07 2017 01:26
07 April 2017
Table of contents
1. When Rate Increases Get Less Sweet for Banks; Lenders haven't felt pressure to raise deposit rates in
response to Fed rate increases, but that will even
1. The natural rate of unemployment is the estimated rate of unemployment that
would prevail when _ unemployment is zero.
2. Individual income tax is the _ single component of federal reven
Chapter 1: Introduction to Macroeconomics
What determines price of coffee? One side you have consumers, the others businesses trying to
maximize profits, and that determines a relationship between these two markets to get an aggregate
Part I: Introduction to Economics
2. The Economic Problem: Scarcity & Choice
Scarcity, Choice, & Opportunity Cost
- 3 Questions Every Society Must Answer
What will be produced?
How will it be produced?
Who will get the product?
- These questions need t
Chapter 9: Long-Run Costs and Output Decisions
I. Key Questions
(9.1) Discuss how short-run conditions affect a firms short-run behavior
and long-run behavior
(9.2) Explain the causes and effects of economies and diseconomies of
(9.3) Describe l
Macro Exam 1 Study Guide
Chapter 1: The Scope and Method of Economics
o (1.1) Identify three key reasons to study economics. Think of an example from
your life in which understanding opportunity costs or the principle of efficient
I. Chapter 4
i. Understand how price floors and price ceilings work in the market place
ii. Analyze the economic impact of an oil impact tax
iii. Explain how consumer and producer surplus are generated
i. The adjustment of price
MACROECONOMICS, CHAPTER 6
Book and In-class notes, Study Guide
Gross Domestic Product (GDP): The value, in dollars, of all final goods and services produced
within this countrys borders for the marketplace, within a given time period.
1. Makes consumer better of
2. Producers are worse of
3. Gains are bigger than loses
a. Free trade is a good thing
Why Do We Restrict Trade?
a. Loses to consumers outweigh loses to
Purchase of capital goods
Changes in inventories
Firms can change inventory without expecting to
o Planned vs unplanned
Planned investment must equal planned savings at equilibrium
High interest rate (r) low investment r I
Jack Quinlan 13-18 Macro Test
Life cycle theory of consumption
Households make decisions based on expectations of lifetime income
determines labor supplied of household?
Non labor income
Nominal wage adjusted for pri
Macro. Ch. 5,6,7 Study Guide
Four Groups of Macro.
3. The Gov
4. Rest of World
Spend less than you receive, savings sometimes called
3 Market Arenas
2. Labor market
3. The financial mar
Macro. Study Guide Ch. 1-4 Study Guide
The study of how society chooses to use scarce resources
The world is full of constraints
More demanded than what is available
Four types of resources
1. Labor resources
2. Capital resou
. 4.3 .65 1.03
Business impact of rules on FDI .
3.9 .113 1.04 Visa requirements, no. of
countries* . 71.0 .58 1.05
Openness bilateral ASAs (038)* . 9.4
.90 1.06 Transparency of government
policymaking . 4.6 .47 1.07 No. of days
to start a business* . 20