Eco 102 H Lt Review (chapter 2: Thinking Like An Economist)

36 Questions  I  By [email protected]
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1.  Which of the choices is not a role of an economist as a scientist?
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2.  In economics, conducting an experiment is often difficult but not impossible.
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3.  Economists, like astronomers and evolutionary biologists, usually have to make do with whatever data the world happens to give them.
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B.
4.  To find substitute for laboratory experiments, economists manipulate people to garner data. 
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5.  Assumptions often lead to hasty generalizations even if it simplifies things. 
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6.  The art of thinking - whether in physics, biology, or economics - is by erasing all the assumptions made. 
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7.  Economists use different assumptions when studying the short-run and long-run effects of a change in the quantity of money. 
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8.  Economists use models which are often composed of diagrams and equations. 
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9.  An economist's model include every feature of the economy. 
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10.  All models are built with assumptions. 
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11.  The circular-flow diagram dispenses signifcant details but aren't crucial for basic understanding of how the economy is organized.
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12.  Most economic models are built using diagrams. 
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13.  The economy can produce at any point on or inside the production possibilties frontier, but it cannot produce at points outside the frontier. 
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14.  An outcome is said to be efficient if the economy is getting all it can from the scarce resources it has available. 
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15.  The production possibilities frontier shows the trade-off between the outputs of different goods at a given time, but the trade-off can change over time.
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16.  The production possibilities frontier simplifies a complex economy to highlight some basic put fowerful ideas except:
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17.  Economy is the sum of all the firms and households. 
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18.  It is possible to understand the macroeconomic developments without considering the associated microeconomic decisions. 
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19.  Because microeconomics and macroeconomics adress different questions, each field has its own set of models.
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20.  Deciding what is good or bad policy is a matter of science.
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21.  Which of the following does not give inputs about the economy to the president of a country? 
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22.  Economists offer crucial inputs into the policy process which makes up the whole complex recipe. 
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23.  Economists don't disagree about the validity of alternative positive theories about how the world works.
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24.  Economists have the same valuesand therefore the same normative views about what policy should try to accomplish. 
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25.  Science is about measuring the world around us in sophisticated ways. 
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26.  Economics is a young science, and there is still much to be learned. 
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27.  Markets and environment are two different fields that don't depend on each other.
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28.  What are the two purposes of graphs?
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29.  If we were to graph party times and grades, it will have a positive correlation. 
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30.  DEMAND CURVE There is a simple way to tell when it is necessary to shift a curve: whena variable that is not named on either axis changes, the curve shifts.
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31.  Economists always sound positive because of expectation. 
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32.  Exports go up especially if the global market is in crisis. 
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33.  Graphs cannot be used by economists to determine the causality of events. 
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34.  A graph where in the Y axis is: Risk of Cancer and the X axis: Number of Lighters in the House is an example of Omitted Variables.
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35.  The graph where in the X axis is: Police Officers and the Y axis: Violent crimes is an example of Omitted Variables. 
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36.  To determine the direction of causality is to examine which variable moves second. 
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B.
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