FINAL

Question 1

What are the core principles of Classical Liberalism

Answer 1

Scope of govt. must be limited

Govt. power must be dispersed

Question 2

Which one of these is NOT a punchline on Govt. size?

Answer 2

U.S. govt. is the largest among all rich democracies

Question 3

How many types of market failures are there?

Answer 3

6

Question 4

Why is it important to standardize “Spending” and “Employment”?

Answer 4

To account for population

Question 5

Which of the folloeing was NOT presented as an example of rent-seeking?

Answer 5

Road quality

Question 6

To address the market failure of macroeconomic crises, Keynes (and Keynesians) argue:

Answer 6

Spend more and tax less

Question 7

What is an externality?

Answer 7

Where social costs diverge from private costs

Question 8

A public good is non-excludable and rivalrous

Answer 8

False

Question 9

Which of these statements are true?

1. “Some” competition is enough to affect prices
2. Efficiency of the market requires “perfect competition” of buyers and sellers
3. Oligopolies are smaller than monopolies
4. The govt. is not allowed to behave monopolistic

Answer 9

2. Efficiency of the market requires “perfect competition” of buyers and sellers

Question 10

How can the government address imperfect information?

1. Collect and publicize accurate warning based on data
2. Prohibit dangerous products and work
3. Mandate behavior
4. All of the above

Answer 10

All of the above

Question 11

Recession and Depression = Macroeconomic crises

Answer 11

True

Question 12

How can government program shift behavior in harmful, unanticipated ways?

1. Public payouts for police brutality
2. Govt. insurance against risk shifts costs to public
3. Govt. subsidies reduce incentive to seek private profit

Answer 12

All of the above

Question 13

Rents are inefficient, raise costs, and reduce productivity

Answer 13

True

Question 14

Which of these is NOT a premise of science

1. Control
2. Empiricism
3. Research
4. Objective

Answer 14

3. Research

Question 15

Government investments do not pay off in Jobs and Growth

Answer 15

True

Question 16

According to Fligstein, markets are not too expensive to operate

Answer 16

False

Question 17

Which of the following is an effect of Work- Family Policies?

1. Mixed results on Labor Markets
2. Cultural Change towards Gender Equality
3. Improved Job Satisfaction
4. All of the above

Answer 17

All of the above

Question 18

What percentage of Employees in the U.S. have paid leave?

Answer 18

24%

Question 19

(Hurley) In the early 1970’s Mayor John Lindsay (NYC) established hundreds of publicly funded child-care centers

Answer 19

True

Question 20

(Hurley) What happened to those publicly funded child-care centers?

Answer 20

Much federal funding dried up by the late 1970’s causing many to close

Question 21

(Haspel) A child-care system that relies on the employer- employee relationship is fundamentally flawed

Answer 21

True

Question 22

(Haspel) During WWll, why did companies begin offering health insurance as a perk?

Answer 22

To get around wage caps

Question 23

What is the relationship between “variables” ?

Answer 23

Independent (x): Cause
Dependent (y): Effect

Question 24

According to Collins, both wealthy and poor women face child-care difficulties and inflexible workplaces in the U.S.

Answer 24

True

Question 25

Why can experiments establish causality?

Answer 25

Randomization ensures treatment and control groups are otherwise identical

Question 26

According to lecture: what is the cycle of science?

Answer 26

Theory-->Hypothesis-->Data--> Patterns

Question 27

Many social programs are weak or have no effect

Answer 27

True

Question 28

According to the reading by Dynarski and lecture, some say the "Gold standard" in policy evaluation is

Answer 28

Randomized Control Trials (RTCs)

Question 29

Judge policies for Efficiency: Benefits > Costs?

Answer 29

Cost-Benefit analysis

Question 30

Generous social policies:

Answer 30

Do not discourage work and do not encourage single motherhood

Question 31

"Present" $ value today> "Discounted" $ value in the future

Answer 31

True

Question 32

Why do some countries have more generous social policies than other countries?

Answer 32

The power of leftist collective political actors

Question 33

According to Collins, Child care and Preschool are considered a universal entitlement in Sweden

Answer 33

True

Question 34

What do taxes do? 1.Encourage good behavior 2.Stimulate economic growth 3.Discourage bad behavior 4.Offset inequality 5.Enhance the legitimacy of the Govt.

Answer 34

All of the above

Question 35

The U.S. gets higher share from indirect, while other rich democracies get higher share from direct

Answer 35

False

Question 36

(Reid) Why do Americans complain more about taxes?

Answer 36

American taxes are more direct & The U.S. tax system is so complex and cumbersome

Question 37

Compared to other rich democracies, the U.S.:

Answer 37

Spends a low amount on social welfare programs

Question 38

What are the dimensions of taxes? Capacity Progressivity Adequacy Broad Basing Simplicity, Convenience, and Predictability All of the above

Answer 38

All of the above

Question 39

U.S. taxes are progressive, but the rich get a disproportionate share of income

Answer 39

True

Question 40

Which one of these is incorrect about 'less' progressive taxes 1. Sales tax 2. Payroll tax 3. Property/wealth tax 4. Most deduction and Exemptions

Answer 40

Property/wealth taxes

Question 41

High U.S. poverty and inequality are NOT caused by behavior

Answer 41

True

Question 42

As places adopt more generous policies, is there an increase in bad behavior/outcomes? 1. Some evidence for small effects on early retirement 2. Zero or weak effects on employment 3. Zero effects on single motherhood or drug use 4. All the above

Answer 42

All of the Above

Question 43

The U.S. has a "dying young" problem

Answer 43

True

Question 44

The U.S. healthcare system is closest to a:

Answer 44

Bismarck System

Question 45

Which of the following is true about the U.S. healthcare system compares to other rich democracies? 1. It is very expensive 2. It has mixed patient outcomes 3. It has worse population health outcomes 4. It has more uninsured

Answer 45

All of the Above

Question 46

Health insurance in other countries isn't as difficult as it is in the U.S.

Answer 46

True

Question 47

Which of the following is true about the Bismarck Model of healthcare system?

Answer 47

Employer insurance mandated with basic insurance for unemployed and others

Question 48

According to Collins, Which of the following was promoted in Germany's Sustainable Family Policy? 1.Investing in early childhood education services 2.Promoting mothers continuous employment 3.Endorsing a dual-family earner model 4.All of the Above

Answer 48

All of the above

Question 49

Which of the following is NOT true about the Beveridge Model of healthcare system?

Answer 49

All countries have state controlled facilities

Question 50

Racial gap inequalities are in

Answer 50

Income and Wealth

Question 51

Fractionalization:

Answer 51

Diverse places have weaker public good and policy

Question 52

Racism accumulates when?

Answer 52

Across stages of life and From historical racism

Question 53

How long will it take to lessen the racial inequality gaps?

Answer 53

Passed our timeline

Question 54

What is racism?

Answer 54

In(Action) + Instituionalization

Question 55

There has been significant progress between Black and White inequality gaps

Answer 55

False

Question 56

What are effects of work family policies

Answer 56

1. Better job satisfaction 2. Cultural change towards gender equality 3. Socialize child well-being and development

Question 57

Can immigration have negative economic impacts in the long run?

Answer 57

No, immigration can positively impact economic growth and wealth creation & No, academic literature and policy does not support that argument

Question 58

Illegal immigration is somewhat correlated to violent crime rates and is causal according to Nowrasteh

Answer 58

False

Question 59

According to Nowrasteh, immigrants increase the budget deficit and government debt.

Answer 59

False

Question 60

What's systemic racism?

Answer 60

Complex system that perpetuates racial inequalities at institutional levels