Do School Teachers and Sumo Wrestlers Have in Common Answer

Topics: Economics, Ku Klux Klan, Supply and demand Pages: 51 (13301 words) Published: April 30, 2013
Chapter 1 What Do Schoolteachers and Sumo Wrestlers Have in Common?

I.Multiple-Choice Questions

1.Which of the following statements best captures the essence of economic analysis? a)No pain, no gain.
b)Everything has a price.
c)Incentives matter.
d)Scarcity is only relative.

Correct Answer: C

2.Which of the following is not an example of an economic incentive? a)A factory is required to pay a fine for each unit of pollution it produces in excess of the legal limit. b)A tax is imposed on each bottle of French wine imported into the country. c)A jewelry salesman is paid on commission.

d)Posting the pictures of convicted prostitutes on the Internet.

Correct Answer: D

3.According to the example in the text, when a monetary fine was imposed for picking up one’s child late at a day care center, the number of late pickups actually rose. Which of the following correctly explains this behavior? a)The monetary fine was less than the moral cost the tardy parent incurred when there was no fine. b)The monetary cost of the fine was greater than the opportunity cost of being on time. c)The marginal benefit from being on time exceeded the marginal cost. d)The marginal cost of being late was zero.

Correct Answer: A

4.In which of the following situations would a moral incentive more likely be effective than a modest economic incentive? a)Someone is considering letting the time on a parking meter expire. b)A politician is considering having an illicit affair.

c)An employee is considering embezzling a small amount of money from the place where she works. d)Someone is considering driving while under the influence of alcohol.

Correct Answer: B

5.Which of the following explains why people are willing to give more blood when there is only a moral incentive than when they are offered a small amount of cash (an economic incentive)? a)The value of the moral incentive (praise for their kind-hearted act) is greater than the value of the economic incentive. b)The value of the moral incentive (praise for their kind-hearted act) is equal to the value of the economic incentive. c)The value of the moral incentive (praise for their kind-hearted act) is less than the value of the economic incentive. d)None of the above.

Correct Answer: A

6.From an economic perspective, the incentive to cheat will be greatest when: a)the total benefits are as large as possible.
b)the expected benefits exceed the expected costs by the greatest amount. c)the marginal expected costs of cheating are zero.
d)the cheater thinks he is unlikely to get caught.

Correct Answer: B

7.Some school teachers cheat because:
a)high-stakes testing encourages them to cheat.
b)they believe that the No Child Left Behind law is an unfair law. c)incentives are set up to reward teachers for improving their student’s test scores. d)all of the above.

Correct Answer: D

8.Which of the following incentives associated with “high-stakes” testing would contribute most to a student’s learning? a)The incentive for the teacher to alter student responses on exams. b)The incentive for teachers to focus on students who don’t test well. c)The incentive for teachers to “teach to the exam.”

d)The incentive students have to study harder.

Correct Answer: D

9.From a teacher’s perspective, the knowledge that teacher cheating is rarely looked for and hardly ever punished has the effect of: a)reducing the expected cost of cheating.
b)increasing the economic benefits of cheating.
c)increasing the moral benefits of cheating.
d)reducing the net benefits of cheating.

Correct Answer: A

10.Assume 50 students take the same multiple-choice exam. Which of the following would be least likely to suggest some form of cheating took place? a)Every student gets the last seven questions correct.

b)The good students all get the same set of six hard questions correct. c)The poor students get the same five hard...
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