ECN 365 QUIZs TRUE/FALSE ONLY (all chapters)
Malthusian economics explains population growth and economic development following the Industrial Revolution True or False?
False
Measures of democracy are not highly correlated. True or False?
False
Most economies around the world have freely floating exchange rates. True or False?
False
One benefit of sales taxes is that they encourage more transactions in the value chain to be recorded than a VAT True or False?
False
Raising children in urban areas tends to be cheaper than raising children in rural areas True or False
False
Since ideas are non-rival, they tend to be over-produced from a social welfare perspective. True or False
False
Taxing income earned from land ownership is considered one of the most efficient and political economy constraints make it easy to tax income on land heavily. True or False?
False
The IMF currently believe unrestricted capital flows are best for developing economies. True or False?
False
The arguments against central planning were gaining favor during the Great Depression True or False
False
The democratic institutions transplanted by European settlers in Australia, Canada, New Zealand, and the US were designed to increase economic growth. True or False
False
The difference in living standards between developed and developing countries is small. True or False?
False
The economy reaches a steady-state in the neoclassical (Solow) growth model because the savings curve has constant returns to scale and the depreciation curve has diminishing returns to scale. true or false?
False
The left-right axis in political debates comes from where parliamentarians sat in the British Parliament following the Glorious Revolution. True or False?
False
The poverty line for a single person in the USA is $12,760. Jarred earns $12,761 dollar a year doing odd jobs. Researchers tabulating the poverty rate would count Jarred as living in poverty. True or False?
False
There are very few regional trade agreements around the world. True or False?
False
Value-added taxes are considered more distortionary on overall economic activity than sales taxes. True or False?
False
Capital abundant countries tend to have a comparative advantage in high-tech manufactures. True or False?
True
Commitment problems are present even between governments and their citizens and creditors. True or False?
True
Democratization is more likely to occur when there is a large middle class. True or False
True
Developing countries tend to have high birth rates and high mortality rates True or False?
True
Factors of production (capital and labor) are paid based on their relative importance in the production function. True or False?
True
Generalized trust between strangers is highest in the Western Offshoots and lowest in Latin America. True or False?
True
In class we discussed how a star athlete has a clause in their contract preventing them from undertaking any activities outside of their sport as a way to solve the information problem. True or False?
True
Presidential regimes have a smaller share of government spending in GDP True or False?
True
The Kuznets curve posits that inequality is low before a society undergoes economic development. As the economy develops, inequality first increases and then decreases at higher level of development. True or False?
True
The economies of East Asia (Japan, Singapore, Hong Kong, Taiwan, Korea, and China) have grown rapidly in part due to high investment rates. True or False?
True
The introduction of extreme family planning interventions (one-child policy in China and sterilization in India) has created millions of missing women from the world population. True or False?
True
The method of collecting evidence in common law systems encourages more evidence collection before the trial. True or False?
True
The soft-budget constraints faced by firms under socialist systems provided no incentive to improve efficiency. True or False
True
Transactions costs reduce the potential amount of economic activity. True or False?
True
Without penalties for absenteeism or shirking, central planning systems to an extent relied on voluntary labor. True or False?
True
Autocratic countries tend to have lower scores for corruption true or false?
false
In areas where the plow was invented and used in agriculture, we see higher female labor force participation today. true or false
false
It is easy to measure the true differences in corruption across countries by counting the number of corruption charges per capita. True or false?
false
Researchers found that cities that were bombed during conflicts took more than 50 years to reach their pre-conflict population levels. true or falsw?
false
Someone who believes strongly that all people are created equal before the law in their choices would represent the "autonomy" aspect of Schwartz's cultural mapping. true or false
false
A manager of a firm in a centrally planned economy would not have a strong incentive to meet their plan's target at the end of the month if they were not close to the target. True or False?
true
Bankruptcy laws in the United States stand out from other common law countries in the leniency for current management. true or false?
true
Countries where workers are very comfortable with unequal power between managers and others would likely be the countries aligning with the "hiearchy" of Schwartz's cultural mapping. true or false
true
Economic theory suggests that if agents were perfectly rational and had knowledge of each other's true strength then we would not see conflict. True or false?
true
Most citizens in developed countries finish secondary school (grades 7 through 12 in US system) and live in urban environments. True or False?
true
Regulations are used as a barrier to trade true or false?
true
The Maghribi Jews who traded throughout the Mediterranean had an effective system for punishing dishonest agents they worked with throughout the region. true or false
true
The majority of the world's poorest countries were in a civil conflict during the 1990s. true or false?
true
Investment cycles occur in free market economies where shortages lead to increased demand for investment expansion which would lead to further shortages. True or False?
False
A completely unequal income distribution would be represented by a Lorenz curve that is a straight line out of the origin at 45 degrees. True or False?
False
A high old-age dependency ratio implies that only a small amount of taxes need to be collected from each working-age person to provide pensions for retired people. True or False?
False
Areas of the world where Europeans settled have lower living standards today. True or False?
False
Autocrats that do not expect to hold power for a long time are like Olson's stationary bandits. True or False?
False
Formal institutions are effective even when they conflict with culture and tradition. True or False?
False
