Fluent Essays

Multiple Choice Questions1) Marriage is a _________, which means that marriage partners commit to oneanother and in doing so adopt a longer-term perspective.a. Rational Choiceb. Intertemporal Commitment Devicec. Institutiond. Opportunity Cost2) Consider a production possibilities frontier for a woman, where marketgoods are on the vertical axis and household goods are on the horizontal axis.The absolute value of the slope of the production possibilities frontierrepresents,a. Her opportunity cost of producing home goods, which is the numberof market goods she gives up to produce home good.b. Her opportunity cost of producing market goods, which is the numberof market goods she gives up to produce a home good.c. Her opportunity cost of producing home goods, which is the numberof home goods she gives up to produce a market good.d. Her opportunity cost of producing market goods, which is the numberof home goods she gives up to produce a market good.3) Suppose ????! is the surplus a female receives if she is married. Suppose ????! isthe surplus the man receives if married. The total surplus from beingmarried is ????!. Alternatively if the woman is single she receives ????!, and ifthe man is single she receives ????!. ????!, ????!, ????!, ????!. What does ????!equal?a. 5b. 11c. 7d. 104) Use the scenario in Question 3. What should this couple do?a. This couple should remain married because their total surplus frombeing married is greater than their total surplus from being single.b. This couple should get divorce because their total surplus from beingsingle is greater than their total surplus from being married.c. The couple should remain single because the woman is better offsingle.d. The couple should remain single because the man is better off single.5) In plotting the supply of curve for the marriage market with the surplusmarried women receive on the vertical axis and the number of women on thehorizontal axis, the supply curve is upward sloping becausea. More men want to get married when his share of the surplus is highb. More men want to get married when his share of the surplus is lowc. More women want to get married when her share of the surplus ishighd. More women want to get married when her share of the surplus islow6) In the supply and demand market described in question 5, the supply curveis eventually vertical. The value on the vertical axis at which the supply curvebecomes vertical representsa. The surplus at which all women in the economy would want to bemarriedb. The surplus at which all of the men in the economy would want to bemarriedc. The surplus at which all women in the economy would remain singled. The surplus at which all men in the economy would remain single7) Suppose there is a decrease in the number of women in the populationrelative to men. This woulda. Shift the supply curve for women to the left, and result in fewermarriages with women receiving a higher equilibrium surplus fromthe marriageb. Shift the supply curve for women to the right, and result in moremarriages with women receiving a lower equilibrium surplus fromthe marriagec. Shift the supply curve for women to the left, and result in moremarriages with women receiving a higher equilibrium surplus fromthe marriaged. Shift the supply curve for women to the right, and result in lessmarriages with women receiving a lower equilibrium surplus fromthe marriage8) The Non-Marital Birth Ratio is equal toa. Single women/ number of womenb. Births to single women/ number of single womenc. Births to single women/ total number of birthsd. Births to married women/ births to single womenUse table to answer questions 9 and 10People/Preferences 1st 2nd 3rdJake Sally Mary CarlaDoug Sally Carla MaryGreg Mary Sally CarlaSally Jake Doug GregMary Doug Jake GregCarla Jake Greg Doug9) The following is a stable match if the women choose first and don’t lie abouttheir preferences:a. Carla with Jake, Mary with Doug, Sally with Gregb. Sally with Jake, Mary with Doug, Carla with Gregc. Sally with Jake, Carla with Doug, Mary with Gregd. Carla with Jake, Sally with Doug, Mary with Greg10) Many social safety net programs in the United States are means tested. Thismeans that your benefits depend on the amount of income you make.Suppose the formula for benefits is -tY, where B stands for total benefits,G is the guarantee, t is the amount of benefits that are reduced per extradollar of income earned, and Y is income. What is the impact of raising t on awoman’s work decision?a. Raising t only has an income effect for those women who are currentlyworking in the market, an increase in t implies less income.Therefore, women would work more.b. Raising t only has a substitution effect for those women who arecurrently working in the market, an increase in t implies a lowerwage. With a lower wage the opportunity cost of taking leisure time islower. Women reduce hours worked.c. Raising t only has a substitution effect for those women who arecurrently working in the market, an increase in t implies a higherwage. With a higher wage the opportunity cost of taking leisure timeis higher. Women increase hours worked.d. There is both an income and substitution effect. The income effectwould increase hours of work and the substitution effect woulddecrease hours of work. The overall effect is indeterminable.11) A subsidy in the form of childcare services,a. Shifts the marginal value of time in the market curve up, making itmore likely that a woman works in the marketb. Shifts the marginal value of time in the market curve down, making itmore likely that a woman works in the marketc. Shifts the marginal value of time in the market curve up, making it lesslikely that a woman works in the marketd. Shifts the marginal value of time in the market curve down, making itless likely that a woman works in the market12) One of the gains from marriage that is also a gain from cohabitation iseconomies of scale. Which of the following is an example of economies ofscale?a. Some men have a lower opportunity cost of market work compared tohousework relative to their wives, so their wives stay home and theywork.b. They can use the services that their house provides them at the sametime.c. Through living together couples can lower their costs through onlybuying one refrigerator, one washing machine, and one oven.d. Husbands and wives make decisions about the future together, suchas the number of children they have and education decisions.13) Absolute advantage isa. when one partner produces at a lower opportunity cost than anotherpartner.b. a skill that an individual develops as a result of an investment in time.c. when one partner is more productive than the other in one sector.d. the total amount produced when all available time is spent producingone good.14) Which of the following is untrue about search theory for finding a partner?a. Men and women search until their marginal benefit is equal to theirmarginal cost.b. Marginal costs of search theory include time and money spent dating.c. The marginal benefit of searching will be positive when individualsstop searching for a partnerd. Marginal benefits of searching increase over time.15) The divorce rate isa. number of women divorced/populationb. number of women divorce/number of womenc. annual divorces/existing marriagesd. none of the above16) ____________ can lead to divorce because decide to marry when they don’tknow everything about one another, they only have expectations over whatwill happen in the future based on what has been revealed to them.a. liabilitiesb. imperfect informationc. choicesd. preferences17) If women’s wages increase in the market, this woulda. Increase her threshold point on the utilities possibilities frontiergiving her more bargaining power.b. Increase her threshold point on the utilities possibilities frontiergiving her less bargaining power.c. Decrease her threshold point on the utilities possibilities frontiergiving her more bargaining power.d. Decrease her threshold point on the utilities possibilities frontiergiving her less bargaining power.e.18) What did no-fault and divorce do?a. Increased the divorce rate because people did not put as muchthought into getting married.b. Did not change the divorce rate, made it easier for those who wantedto get divorced, speeding up the process and allowing those whowanted out to have a greater surplusc. Did not change the divorce rate, but slowed the process down.d. Decreased the divorce rate.19) Which of the following statements are true about assortative mating?a. Positive assortative mating means likes marry likesb. Negative assortative mating means people match with those who aretheir oppositec. Income inequality has been attributed to positive assortative matingd. All of the above20) The main conclusion from the paper about the MTV show 16 and pregnanta. Was that the show 16 and pregnant resulted in a fall in teen birthsb. Was that the show 16 and pregnant resulted in an increase in teenbirthsc. Was that the show 16 and pregnant resulted in no statisticallysignificant change in teen birthsd. Was that the show resulted in a change in the overall fertility rate21) If the marginal value of time for leisure is currently less than the marginalvalue of time in the home,a. a shift of a unit of time to leisure and away from home productionwould increase utility.b. a shift a unit of time to home production and away from leisure woulddecrease utility.c. a shift of a unit of time to home production and away from leisurewould increase utility.d. none of the above.22) The marginal value of time in the market is equal toa. the product of the real wage (the marginal product of labor) andmarginal utility of consumption of the market good.b. the real wage (the marginal product of labor).c. marginal utility of consumption of the market good.d. The price of the market good.23) The durable goods revolution can be represented in the marginal value oftime diagrams by a rotation of the marginal value of time in the home curve.This would,a. decrease the marginal value of time in the home at low hours of homework relative to more hours, and increase the likelihood that womenchoose to work in the market.b. Increase the marginal value of time in the home at low hours of homework relative to more hours of home work, and increase thelikelihood that women choose to work in the marketc. decrease the marginal value of time in the home at low hours of homework relative to more hours, and decrease the likelihood that womenchoose to work in the market.d. Increase the marginal value of time in the home at low hours of homework relative to more hours of home work, and decrease thelikelihood that women choose to work in the market24) Full income refers toa. the income the family would get if the man worked the total amountleft sleeping and the woman worked in the home.b. the income the family would get if the woman worked the totalamount left after sleeping and the man worked in the home.c. the income the family would get if both the man and woman workedthe total amount of time available after sleeping plus any non-laborincome.d. the income the family receives when they work a full time job of fortyhours per week rather than a part time job.25) If a mom is already spending a lot of time at home taking care of herchildren, then an increase in the wage will likelya. Increase the price of child services, the lost opportunity cost fromworking in the market, more than it will increase additional incomefrom an increase in the wage, resulting in a decrease in the quantity ofchild services providedb. Decrease the price of child services, the lost opportunity cost fromworking in the market, more than it will increase additional incomefrom an increase in the wage, resulting in a decrease in the quantity ofchild services providedc. Decrease the price of child services, the lost opportunity cost fromworking in the market, more than it will increase additional incomefrom an increase in the wage, resulting in a increase in the quantity ofchild services providedd. Decrease the price of child services, the lost opportunity cost fromworking in the market, more than it will decrease additional incomefrom a decrease in the wage, resulting in a decrease in the quantity ofchild services provided26) If women’s earnings increase thena. It’s possible the MVT in leisure and MVT in the home do not change.This would occur if the rise in the MVT in the market is not largeenough to induce a woman to work.b. It’s possible that the MVT in the market will rise, which will cause theMVT in the market to be greater than MVT in leisure and the MVT inthe home. So a woman who previously was not working in the marketwill devote some hours to market hours, reducing their time spent inleisure and home hours.c. Both a. and b. are possibled. None of the above27) The total fertility rate isa. the number of births 1,000 women today would have over theirlifetimes from age 10 to 49 if they had the age specific fertility ratesthat currently prevail.b. the number of births to single women divided by the number of singlewomen aged 15-44.c. the rate, which if sustained indefinitely, would cause populationgrowth to come to a halt.d. the number of births in a year to women of any age divided by thenumber of women aged 15-44.28) When separating out child quantity and child quality, an increase in thewagea. Causes an increase in child quality and an increase in child quantity.b. Causes a decrease in child quantity and an increase in child quality.c. Causes a decrease in child quality and a decrease in child quantity.d. Causes a decrease in child quality and an increase in child quantity.29) Through one of the presentations about divorce and family distress welearned,a. unilateral divorce led to a reduction in male suicide ratesb. unilateral divorce led to a reduction in female suicide ratesc. unilateral divorce led to an increase in male suicide ratesd. unilateral divorce led to an increase in female suicide rates30) An increase in availability of contraceptives would likelya. Decrease the number of women willing to marry at every level ofsurplus, and decrease the number of men willing to marry at everylevel of surplus, decreasing the number of marriages.b. Increase the number of women willing to marry at every level ofsurplus, and increase the number of men willing to marry at everylevel of surplus, increasing the number of marriages.c. Increase the number of women willing to marry at every level ofsurplus, and no impact on the number of men willing to marry, thenumber of marriages falls.d. Increase the number of men willing to marry at every level of thesurplus, and no impact on the number of women willing to marry, thenumber of marriages increases.AnswersQuestion 1.a. Rational ChoiceQuestion 2. Question 3.Question 3. d. Her opportunity cost of producing market goods, which is the numberof home goods she gives up to produce a market goo...