哈维财政学英文题库 CHA1(2)

A) the intercept by the change in horizontal distance.B) the change in horizontal distance by the change in vertical distance.

C) the change in horizontal distance by the intercept term.D) the change in vertical distance by the change in horizontal distance.E) none of the above. Ans: d 8. Unobserved influences on a regression are captured in the A) error term.B) parameters.

C) regression line.D) significance term.E) regression coefficient. Ans: a

9. The following can be analyzed using econometrics:

A) labor supply.B) market demand.C) tax_setting behavior. D) poverty.E) all of the above.Ans: e 10. Normative economics

A) does not depend on market interactions.B) only looks at the best parts of the economy. C) examines how the economy actually works (as opposed to how it should work). D) embodies value judgments. Ans: d

11. The Latin phrase ceteris paribus means

A) let the buyer beware.B) other things being the same. C) swim at your own risk.D) whatever will be will be. Ans: b

12. The substitution effect

A) is when individuals consume more of one good and less of another. B) is associated with changes in relative prices.

C) will have no effect if goods are unrelated.D) is all of the above. Ans: d

13. Self_selection bias affects empirical estimation by

A) leading to samples that are not representative of the entire population. B) making estimators improved.

C) increasing the accuracy of test results.D) doing none of the above. Ans: a

14. When different bundles of commodities give the same level of satisfaction, you are A) said to be indifferent between the bundles. B) said to be confused.

C) not able to make a decision.

D) unhappy with any combination. E) none of the above. Ans: a

15. The marginal rate of substitution is A) the slope of the utility curve. B) the slope of the contract curve.

C) the slope of the utility possibilities curve. D) none of the above. Ans: a

16. Data that is considered observational can be

A) cross-sectionalB) time seriesC) panelD) all of the aboveAns: d 17. A counterfactual is

A) what happens when there are no facts.

B) what would have happened if the treatment group had not received the treatment. c) a legal term describing the process of proving that a negative is the actual truth. D) none of the above. Ans: b Essay

18. Suppose that a competitive firm’s marginal cost of producing output q is given by MC=2+2q. Assume that the market price of the firm’s product is $13. A) What level of output will the firm produce? B) What is the firm’s producer surplus?

Ans: q = 11/2. Producer surplus = ½(11/2)11 = 121/4.

19. Use the following function for elasticity: = -(1/s)(P/X), where s is the slope of the

demand curve, P is the price, and X is the quantity demanded, to find elasticity when demand is Xd= 22-(1/4)P when the price of good X is 20. Ans: = -(1/-4)(20/17) = 5/17

20. Imagine that the demand for concert tickets can be characterized by the equation Xd = 7 – P/5. The supply of tickets can be written as Xd = -2 + P/5. Find the equilibrium price and quantity of concert tickets. Ans: X* = 2.5. P* = 22.5

21. Empirical analysis generally deals with theory and little data. A) True. B) False. C) Uncertain. Ans: b

22. Economists attempt, with moderate success, to perform controlled experiments making policy analysis helpful.

A) True.B) False.C) Uncertain. Ans: a

23. Regression coefficients are indicators of the impact of independent variables on dependent variables. A) True. B) False. C) Uncertain.

Ans: a24. Primary data sources include information gathered from interviews and experiments.

A) True.B) False.C) Uncertain. Ans: a

25. Multiple regression analysis typically requires several computers. A) True.B) False.C) Uncertain. Ans: c

26. Econometrics is the statistical analysis of economic data. A) True.B) False.C) Uncertain. Ans: a

27. Theory is always necessary for empirical research. A) True.B) False.C) Uncertain. Ans: a

28. The demand for a good is not affected by the demand for a related good. A) True.B) False.C) Uncertain. Ans: c

29. Equilibrium in the market is where supply is equal to demand. A) True.B) False.C) Uncertain. Ans: a

30. A model is a simplified description of some aspect of the economy. A) True.B) False.C) Uncertain. Ans: a

31. Causation and Correlation are generally the same thing. A) True.B) False.C) Uncertain. Ans: b

32. An experimental study is one which individuals are randomly assigned to the treatment and control groups.

A) True.B) False.C) Uncertain. Ans: a Essay

33. “Since the social sciences are not like the natural sciences, experiments are a waste of time.” Comment on the above statement.

Ans: It is true that social sciences are not the same as natural sciences. Experiments have been used successfully to tell us more about the world we live in. There are limits that social scientists should be aware of, but to dismiss the use of experimental analysis entirely would be incorrect. 34. Discuss the concept in econometrics that states, “garbage in . . . garbage out.”

Ans: When the data used in an econometric analysis are not carefully screened for errors, there can be faulty and misleading results that occur. There has been some time expended to ensure that the data have been “cleaned” properly.

35. It is possible that two different economists can examine the same situation, such as school funding, and reach entirely different conclusions. Why is this so?

Ans: Reasoning resulting in differing results includes the time period under examination, the data sources and proxies used, the econometric tools employed, and many o …… 此处隐藏：5607字，全部文档内容请下载后查看。喜欢就下载吧 ……