BSNS 112 MIDTERM AND FINAL EXAM BUNDLE NEWEST ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!<\/p>\n\n\n\n
1 | P a g e
BSNS 112 MIDTERM EXAM NEWEST 2024-2025
ACTUAL EXAM COMPLETE 300 QUESTIONS
AND CORRECT ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND
NEW!!
Does rent control work in the short run? Why? – ANSWER- Yes it will,
there will still be a shortage from extra demand.
It works because Demand will be inelastic and Supply is virtually
perfectly inelastic because home owners won’t be able to get rid of their
properties.
Does rent control work in the long run? What happens to supply and
demand? – ANSWER- In the long run there will be a much larger
shortage.
Both Supply and Demand will get more elastic. Suppliers may convert
rental housing into commercial buildings for example, and people may
decide to go flatting at a younger age or decide to sell their home and
rent.
What happens to allocation with rent control? – ANSWER- People rent
homes that are wrong sized.
People rent homes that a wrongly placed (longer commutes)
Wrong Tenure: there is a decrease in incentives to be a home owner.<\/p>\n\n\n\n
2 | P a g e
What happens to maintenance when we have rent control? – ANSWERSmall things that legally don’t have to be changed will not get changed.
The logic is that if you cannot increase price you will not update it.
What are the 2 criticisms of a minimum wage? – ANSWER- 1) It
increases unemployment among low skilled workers
2) It doesn’t get to the root of the problem – a lack of skill
Will a minimum wage be binding if it is set above the equilibrium wage?<\/p>\n\n\n\n
3 | P a g e
What does unemployed mean? – ANSWER- People who do not have a
job, but are available to work and are actively seeking employment
What does it mean to be Underemployed? – ANSWER- People who are
employed part time (<30 hours per week) and who want to work longer
hours
What does it mean to be an ‘Available Potential Jobseeker’? – ANSWERPeople who want a job and available to work, but not actively looking
What is an Unavailable jobseeker – ANSWER- People who are
unavailable to start work now, but will start looking in the next month
Is youth unemployment higher, lower or the same with a minimum
wage? – ANSWER- Higher
What did Card and Krueger’s research about unemployment say? –
ANSWER- The increase in the minimum wage did NOT increase
unemployment
How would it be explainable that a minimum wage would not effect
unemployment? how is this explainable? – ANSWER- For this to
happen, demand would need to increase. This is explainable if paying
workers more encouraged them to work harder.<\/p>\n\n\n\n
4 | P a g e 1 | P a g e 2 | P a g e 3 | P a g e 4 | P a g e BSNS 112 MIDTERM AND FINAL EXAM BUNDLE NEWEST ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!! 1 | P a g eBSNS 112 MIDTERM EXAM NEWEST 2024-2025ACTUAL EXAM COMPLETE 300 QUESTIONSAND CORRECT ANSWERS (VERIFIEDANSWERS) |ALREADY GRADED A+||BRANDNEW!!Does rent control work in the short run? Why? – ANSWER- Yes it will,there […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-132719","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/132719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=132719"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/132719\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=132719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=132719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=132719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
What is Welfare economics? – ANSWER- the study of how the
allocation of resources affects economic wellbeing
When is welfare maximized? – ANSWER- When markets are efficient
What is Consumer Surplus? – ANSWER- A buyer’s willingness to pay
(WTP) minus the amount actually paid
What is producer surplus – ANSWER- the amount a seller is paid for a
good minus the seller’s marginal opportunity (or what they wanted to
sell the good for)
What is the Horizontal Interpretation of the Demand Curve? –
ANSWER- The number of units that demanders in the market would
buy at any certain price
What is the Vertical Interpretation of the Demand curve? – ANSWERThe demand curve plots the maximum someone among the demanders is
willing and able to pay for each unit of the good
What is the Horizontal interpretation of the Supply curve? – ANSWERThe number of units that suppliers in the market would sell at any given
price
What is the Vertical Interpretation of the Supply curve? – ANSWERThe supply curve plots in increasing order; the minimum someone
get pdf at https:\/\/learnexams.com\/search\/study?query=<\/a><\/p>\n\n\n\n
BSNS 112 FINAL EXAM NEWEST 2024-2025
ACTUAL EXAM COMPLETE 100 QUESTIONS
AND CORRECT ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND
NEW!!
Which of the following would not assist you in checking to see if a
sample could have come from
a normal distribution?
(a) Looking at the shape of a histogram.
(b) Calculating the skewness coefficient.
(c) Calculating the coefficient of variation.
(d) Looking at box and whiskers plots.
(e) Calculating the kurtosis coefficient. – ANSWER- (c) Calculating the
coefficient of variation.
A 95% confidence interval is an interval calculated from data
and will cover the true<\/strong> in 95% of all samples of the same size
randomly drawn from the same population – ANSWER- (e) sample;
population parameter
As the term has been used in lectures, the term standard error can refer
to:<\/p>\n\n\n\n
(a) The standard deviation of the population mean.
(b) The standard deviation of the sample proportion.
(c) The standard deviation of the population proportion.
(d) The standard deviation of the difference in population means.
(e) All of the above. – ANSWER- (b) The standard deviation of the
sample proportion.
How are the degrees of freedom for this test calculated?
(a) One less than the number of categories.
(b) (The row total x the column total)\/total sample size.
(c) (The number of rows -1) x (the number of columns -1)
(d) (Observed frequency -Expected frequency)2\/Expected frequency.
(e) The number of columns. – ANSWER- (a) One less than the number
of categories.
Which of the following three statements about p-values is not correct? –
ANSWER- (b) The p-value can be interpreted as the probability of
making a Type I Error in repeated
sampling.
If we wish to examine the relationship between total weekly household
food spending and market spending for market visitors we should use
what type of graph\/chart?
(a) A clustered bar chart
(b) An xy scatter plot<\/p>\n\n\n\n
(c) A box plot
(d) A cross tabulation table
(e) A stacked bar chart – ANSWER- (b) An xy scatter plot
You have been asked to test the claim that the proportion of visitors to
the market that are not regular buyers of organic produce exceeds the
proportion of regular organic produce buyers. Which of the following
tests would be the most appropriate in this case?
(a) A hypothesis test for the difference in two proportions (Ha: Pnon
organic – Porganic > 0).
(b) A hypothesis test for one proportion (Ha: Pnon organic > 0.5).
(c) A chi square test of independence (Ha: Organic purchasing is
independent of regular
visiting).
(d) A chi square goodness of fit test (Ha: Pnon organic > 0.5, Porganic < 0.5). – ANSWER- (b) A hypothesis test for one proportion (Ha: Pnon organic > 0.5).
Which one of the following tests would be the most appropriate to see if
there is a relationship between market visitors’ annual incomes and their
market spending?
(a) A chi-square test of independence.
(b) An ANOVA test.
(c) Correlation analysis.
(d) An independent samples t-test for the difference in means.<\/p>\n\n\n\n
(e) A dependent samples t-test for the difference in means. – ANSWER-
(c) Correlation analysis.
When is ANOVA test best used for? – ANSWER- comparing means
between two independent groups
when can an independent sample t test be best used for? – ANSWERComparing means between two independent groups
When can a dependent samples t test be best used for? – ANSWERcompare means of two related groups
When is a Chi-square test best used for? – ANSWER- to determine if
association between two categorical variables
Which of the following statements is\/are true when comparing the
Wilcoxon Rank Sum test to the more commonly used parametric
methods for testing differences in means?
(a) An advantage of the Wilcoxon Rank Sum test is that the null can be
rejected due to
differences in the distribution other than just differences in the mean.
(b) An advantage of the Wilcoxon Rank Sum test is that it requires no
distributional
assumptions.
(c) A disadvantage of the Wilcoxon Rank Sum test is that there is
generally a higher chance of
get pdf at https:\/\/learnexams.com\/search\/study?query=<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"