Category: Economics

To maximize one’s satisfaction when deciding between two goods
a) one must get the most satisfaction out of every dollar spent.
b) one does not need to consider opportunity costs.
c) the price of each good considered must be equal.
d) one must spend more money than one has.

Harvey, a rare coin dealer, sells Leroy a small round object stating, “This is a Spanish doubloon from about the sixteenth century”. Harvey’s statement:
a. is puffing
b. creates an express warranty
c. is mere opinion, creating no warranty
d. creates a warranty of fitness

The amount of moesy in US checking accounts rises by $100 billioe. Noding else changes. What will happen to M1 and M2? Choose the best answer.
M1 will rise. M2 will not.
M2 will rise. M1 will not.
M1 and M2 with both rise.
Both M1 and M2 will not change.

Which behavioral economics concept captures hits statement: The tendency to assess the likelihood that something belongs in a category by judging how similar they are to that category.
Anchoring bias
Availability bias
Representation bias
Loss aversion
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This exam covers all modules. It is made up of 65 multiple choice
Question 51 The federal funds rate is the interest rate
on the 3-month Treasury bill.
banks charge each other on overnight loans.
that the Fed charges commercial banks on loans.
on the 30-year treasury bond.

ow, estimate the equation with and without f aminc, using the data in BWGHT.RAW.Report the results in equation form, including the sample size and R-squared. Discussyour results, focusing on whether adding f aminc substantially changes the estimatedeffect of cigs on bwght