Mike Pogorzelski Economics Worksheet

Mike Pogorzelski Economics Worksheet

Instructions/Descriptions

Mike Pogorzelski Economics Worksheet

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Mike Pogorzelski

Spring 2020

INSTRUCTIONS: Complete the certification below. Answer the designated number of questions in each part of the exam. You can use your textbooks and other sources. You cannot consult with others about your answers. If you have questions about the exam, you can ask me via email or via Zoom. You should type your answers directly into the exam document. Return your completed exams and any supporting materials (graphs, tables, etc.) by email to Pogorzelski 11:59pm Sunday, May 17, 2020.

SOURCES: If you rely on sources other than the textbooks for the course, you must give complete bibliographic citations and follow appropriate methods for quoting or paraphrasing sources.

FILE NAMING CONVENTION: When you email your file, follow the file naming convention: LastName_FirstInitial_Exam_1.doc (E.g., Smith_J_Exam_1.doc).

CERTIFICATION: I have not received unauthorized assistance in completing this exam. _________ (mark with X)

NAME: ___________________________________

PART A: Answer any 5of the questions A.1 – A.7. Do not answer additional questions. This part is worth 15% of the exam.

Briefly define and give a specific example of:

A.1.Regression analysis

A.2.R2

A.3.Adjusted R2

A.4.t statistic

A.5.dummy variable

A.6.hedonic regression

A.7.logarithmic transformation

PART B: Answer all 3 of the questions B.1 – B.3. This part is worth 30% of the exam.

B.1.Explain how each of the following affects the bid-rent function/size of the city.

• Increase P
• Increase w
• Increase k
• Increase t
• Increase a

See Figure 1

B.2.According to Census Journey to Work data, which three counties are top destinations for commuters from Santa Clara County – not including Santa Clara County? Please list in order and list the estimated commuters based on 2011-2015 5-Year ACS Commuting Flows.

B.3.Describe two kinds of scale economies. What different implications do the two kinds of scale economies have for regional economic development?

PART C: Answer questionC.1. This part is worth 55% of the exam.

C.1.Describe the central economic concept you addressed in your term project and what insight it gave you on the basic policy issue addressed in the reading you reported on.

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Mike Pogorzelski Economics Worksheet

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