Ruan Chun Xian Posted November 15, 2007 Report Share Posted November 15, 2007 I just got this question in my macroeconomics exam this morning: If Jane married her gardener, Bob, then: a) GDP would increase and welfare would stay the same b ) GDP would increase and welfare would increase c) GDP would stay the same and welfare would increase d) Nothing would happen e) None of the above EVERYONE I spoke to afterwards thought that was a stupid question. I looked at it and was thinking err - what? It just seems so much like a weird, random question that has little to do with economics unless I'm missing something huge here. I mean, they were on this stride about monetary and fiscal policies then there is this. I chose e. But it's still a weird and funny question. Reply Link to post Share on other sites More sharing options...
Abu Posted November 15, 2007 Report Share Posted November 15, 2007 I think E as well. This reminds of why I hate economics so much. Reply Link to post Share on other sites More sharing options...
Guest Crammarc Posted November 15, 2007 Report Share Posted November 15, 2007 I would say E aswell. Thats really...strange and scary Reply Link to post Share on other sites More sharing options...
Shirl.Shen Posted November 20, 2007 Report Share Posted November 20, 2007 Hmmm... I had a similar style of question on the written exam for a competition I was at for DECA, but my question was something along the lines of "Joe broke his leg from a soccer game, he went to the hospital and got a cast. This is an example of: *choices*" I was speechless when I saw it. (DECA is a business related extra curricular club) Reply Link to post Share on other sites More sharing options...
Ruan Chun Xian Posted November 20, 2007 Author Report Share Posted November 20, 2007 well if it was a competition I'd expect some weird trick question. but this was a university final exam, where they'd had much better used their question to test something we actually needed to know instead of such throwaway question like this Reply Link to post Share on other sites More sharing options...
Shirl.Shen Posted November 20, 2007 Report Share Posted November 20, 2007 I'm not sure exactly if it was trick or not because I had no idea what the answers was. I just knew that the choices were somehow accounting/finance related since I was in the Financial Management category. Anyways, that was the first time I had a metaphor as a question. Reply Link to post Share on other sites More sharing options...
Ruan Chun Xian Posted November 20, 2007 Author Report Share Posted November 20, 2007 Accounting and finance? LOL I may hate the subject but I don't see ANYTHING remotely related to the subject in breaking your leg and getting a cast... Reply Link to post Share on other sites More sharing options...
Dooga Posted November 29, 2007 Report Share Posted November 29, 2007 What's the answer? I'm curious to know Reply Link to post Share on other sites More sharing options...
stylusdef Posted December 2, 2007 Report Share Posted December 2, 2007 I'm handing in my choices of subjects tomorrow (I'm in the Pre-IB) and I've chosen Economics. This looks scary, though! Reply Link to post Share on other sites More sharing options...
Ruan Chun Xian Posted December 3, 2007 Author Report Share Posted December 3, 2007 This was first year university macroeconomics. Reply Link to post Share on other sites More sharing options...
deissi Posted December 3, 2007 Report Share Posted December 3, 2007 (edited) I'm voting for D!When will we hear the correct answer?*EDIT* Meant C, not D Edited December 3, 2007 by deissi Reply Link to post Share on other sites More sharing options...
Ruan Chun Xian Posted December 4, 2007 Author Report Share Posted December 4, 2007 We don't. It's my final exam question so I'll only get the overall grade. Reply Link to post Share on other sites More sharing options...
Juyken Posted December 7, 2007 Report Share Posted December 7, 2007 I just got this question in my macroeconomics exam this morning:If Jane married her gardener, Bob, then: a) GDP would increase and welfare would stay the same b ) GDP would increase and welfare would increase c) GDP would stay the same and welfare would increase d) Nothing would happen e) None of the above EVERYONE I spoke to afterwards thought that was a stupid question. I looked at it and was thinking err - what? It just seems so much like a weird, random question that has little to do with economics unless I'm missing something huge here. I mean, they were on this stride about monetary and fiscal policies then there is this. I chose e. But it's still a weird and funny question. it should be e) None of the above. This is because if Jane married her gardener, Bob, she would no longer have to pay for his services as they are married. Even if she does pay, this would only be a transfer of money which in turn, is not counted in GDP. So this would decrease the overall GDP. Reply Link to post Share on other sites More sharing options...
icecoldstar Posted December 10, 2007 Report Share Posted December 10, 2007 I took macro E in college as dual enrollment, but i've forgotten over 95% of what ive learned already...GDP would stay the same, or at least have no real impact on national level, and welfare... increase?? since we kinda assume that the gardner is more poor, thus lead to welfare?? Reply Link to post Share on other sites More sharing options...
Ruan Chun Xian Posted December 11, 2007 Author Report Share Posted December 11, 2007 GDP would stay the same, or at least have no real impact on national level, and welfare... increase?? since we kinda assume that the gardner is more poor, thus lead to welfare?? I know GDP would stay the same...but would welfare increase? She wouldn't have to pay him to do gardening anymore so she's better off but he's losing an income unless he finds another job somewhere else, in which case there'd be more income in their household...so it all depends on what happens after they get married. To answer this question you have to be given more info or assume a lot of things. I still think it's E. I think it's a trick question . Reply Link to post Share on other sites More sharing options...
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