IU Economics - B251, Gerhard Glomm -
Quiz 1 Questions and Answers 2025-
2026 Updated.
Which of the following do not fit?
1. Time Constraint
2. Budget
3. Objective
4. Emotional Constraint - Answer Objective
A theory is
1. An abstraction
2. Realistic
3. Consistent with observations
4. Verifiable - Answer An Abstraction
The point of creating a parallel universe is to
1. Detect correlation in two or more variables
2. See a pattern in the data
3. Detect Causation
4. Measure a constraint - Answer Detect Causation
The law of unintended consequences
1. was passed by Indiana's General Assembly in 2004
2. is of no practical consequence
3. is becoming less relevant now that we have access to more data
4. Is a reflection of our incomplete understanding of human behavior - Answer Is a reflection
, 1. make tests harder
2. cheat on students' behalf
3. have tests after little 500 weekend
4. all the above - Answer cheat on students' behalf
The statement by Charles Darwin quoted in chapter 0 suggest that
1. all measurement is useful
2. all measurement is useful, if it is an improvement on previous measurement
3. all measurement should be guided by theory
4. all measurement is useful only if it is refuting a hypothesis - Answer all measurement should
be guided by theory
The Economist who claimed that Economics is about "the ordinary business of life" was
1. Alfred Marshall
2. Adam Smith
3. David Ricardo
4. Karl Marx - Answer Alfred Marshall
The Law of Unintended Consequences asserts that a change in a policy is often followed by an
unforeseen and unintended consequence. The unforeseen consequences happen because
1. individuals are irrational
2. Individuals are rational and often find close substitutes for actions that have been prohibited
or discouraged
3. they were explicitly stated in the Preamble to the United States Constitution
4. Government officials are bribed by lobbyists - Answer Individuals are rational and often find
close substitutes for actions that have been prohibited or discouraged
Which of the following assumptions were used to guide of search for where we
would/could/should look for white-black wage differentials?
Quiz 1 Questions and Answers 2025-
2026 Updated.
Which of the following do not fit?
1. Time Constraint
2. Budget
3. Objective
4. Emotional Constraint - Answer Objective
A theory is
1. An abstraction
2. Realistic
3. Consistent with observations
4. Verifiable - Answer An Abstraction
The point of creating a parallel universe is to
1. Detect correlation in two or more variables
2. See a pattern in the data
3. Detect Causation
4. Measure a constraint - Answer Detect Causation
The law of unintended consequences
1. was passed by Indiana's General Assembly in 2004
2. is of no practical consequence
3. is becoming less relevant now that we have access to more data
4. Is a reflection of our incomplete understanding of human behavior - Answer Is a reflection
, 1. make tests harder
2. cheat on students' behalf
3. have tests after little 500 weekend
4. all the above - Answer cheat on students' behalf
The statement by Charles Darwin quoted in chapter 0 suggest that
1. all measurement is useful
2. all measurement is useful, if it is an improvement on previous measurement
3. all measurement should be guided by theory
4. all measurement is useful only if it is refuting a hypothesis - Answer all measurement should
be guided by theory
The Economist who claimed that Economics is about "the ordinary business of life" was
1. Alfred Marshall
2. Adam Smith
3. David Ricardo
4. Karl Marx - Answer Alfred Marshall
The Law of Unintended Consequences asserts that a change in a policy is often followed by an
unforeseen and unintended consequence. The unforeseen consequences happen because
1. individuals are irrational
2. Individuals are rational and often find close substitutes for actions that have been prohibited
or discouraged
3. they were explicitly stated in the Preamble to the United States Constitution
4. Government officials are bribed by lobbyists - Answer Individuals are rational and often find
close substitutes for actions that have been prohibited or discouraged
Which of the following assumptions were used to guide of search for where we
would/could/should look for white-black wage differentials?
