ECON 1113 OKSTATE EXAM QUESTIONS
WITH COMPLETE SOLUTIONS
You just received your midterm exam results and your professor wrote
| | | | | | | | | | |
the following note: "You received a 70 on this exam, the average score.
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If you want to improve your grade, you should study more." Evaluate
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your professor's note.
| |
First Sentence is:
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Second is: - CORRECT ANSWER✔✔-positive
| | | |
normative
When we say rational people make decisions at the margin, we are
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saying that people - CORRECT ANSWER✔✔-compare the additional
| | | | | | | |
costs and additional benefits of only the current choice
| | | | | | | |
You are trying to decide whether to take one more course this semester.
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|Which of the following would an economist suggest that you consider?
| | | | | | | | | |
|- CORRECT ANSWER✔✔-The additional cost of the course versus its
| | | | | | | | | |
individual benefits |
, For each of the pairs below, determine whether they are positively
| | | | | | | | | | |
correlated, negatively correlated, or uncorrelated.
| | | |
| a. Time spent studying and test scores
| | | | | |
| b. Vaccination and illness
| | |
| c. Soft drink preference and music preference:
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| d. Income and education - CORRECT ANSWER✔✔-a. positive
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b. negative
|
c. uncorrelated
|
d. positive
|
Determine whether each of the following statements is positive or
| | | | | | | | | |
normative. (Remember that a positive statement isn't necessarily
| | | | | | | |
correct; it just makes a factual claim rather than a moral judgment.)
| | | | | | | | | | | |
|a. People who pay their bills on time are less likely than others to get
| | | | | | | | | | | | | | |
into debt | |
| b. Hard work is a virtue
| | | | | |
WITH COMPLETE SOLUTIONS
You just received your midterm exam results and your professor wrote
| | | | | | | | | | |
the following note: "You received a 70 on this exam, the average score.
| | | | | | | | | | | | |
If you want to improve your grade, you should study more." Evaluate
| | | | | | | | | | | |
your professor's note.
| |
First Sentence is:
| |
Second is: - CORRECT ANSWER✔✔-positive
| | | |
normative
When we say rational people make decisions at the margin, we are
| | | | | | | | | | | |
saying that people - CORRECT ANSWER✔✔-compare the additional
| | | | | | | |
costs and additional benefits of only the current choice
| | | | | | | |
You are trying to decide whether to take one more course this semester.
| | | | | | | | | | | |
|Which of the following would an economist suggest that you consider?
| | | | | | | | | |
|- CORRECT ANSWER✔✔-The additional cost of the course versus its
| | | | | | | | | |
individual benefits |
, For each of the pairs below, determine whether they are positively
| | | | | | | | | | |
correlated, negatively correlated, or uncorrelated.
| | | |
| a. Time spent studying and test scores
| | | | | |
| b. Vaccination and illness
| | |
| c. Soft drink preference and music preference:
| | | | | | |
| d. Income and education - CORRECT ANSWER✔✔-a. positive
| | | | | | |
b. negative
|
c. uncorrelated
|
d. positive
|
Determine whether each of the following statements is positive or
| | | | | | | | | |
normative. (Remember that a positive statement isn't necessarily
| | | | | | | |
correct; it just makes a factual claim rather than a moral judgment.)
| | | | | | | | | | | |
|a. People who pay their bills on time are less likely than others to get
| | | | | | | | | | | | | | |
into debt | |
| b. Hard work is a virtue
| | | | | |
