Wow, this is sad.

[Root beer]

I'm taking economic II this summer at my college and he gave us this web site for practice quizzes and powerpoints. The problem with the quizzes on this site..they are B.S.! They put wrong answers down for the questions. I went and talked to my professors about them and he told me just to put answers down and he will curve it as he see fit. We can email him the quizzes and he give us a small points for our grades. So if you are like 1-5 points away from making B or an A these quizzes will help. But since they can easily be cheated he is not counting it as a huge percentages.

Anyway, with that being said, the problem with the quiz I'm post for example. Is the inappropriate usage  of the word "expected-value" Expected value means to calculate the probably future value. The formula for it is: (1-risk factor) x (Present Discount Value).

On question #9 the answer is D. But it should be C with the giving choices.

On question #13 the answer is D But again it should be C with the giving choices.

here link to quiz: http://highered.mcgraw-hill.com/sites/0072979119/student_view0/chapter32/multiple_choice_quiz.html

How does McGraw hill make such stupid mistake(s)? On some of other quizzes they did same thing. On left side of the link, if you click on chapter 30, then multiple choice quiz read question #2 and tell me what wrong with choice B.

P.S. Also notice, on 9 and 13 the answers of the formulas are flipped flopped? What the hell? You cannot add 1+risk premium..let along divide by it.  If you got standard deviation of a bond default is 20% if you subtract 1-.20=.80. Which translate to 80% of not defaulting. I'm done with my rant.

[Root beer]

Forgot to add, they also screwed up question number 6 in the link above.. :

[skillet]

 "Uhhhhhh.....WHAT?"

     

                  Beavis

skillet

[Bassn Blvd]

 Can you please ask the question in a different way

[Long Mike]

I give up.  What's the question ...  and the correct answer?

[mattm]

How could anyone possibly know that.

[TopDog]

I have had test like that (specialty computer certs) I had to email the proctor and he responded with an.............oops.  It's BS I know.

[Eddie Munster]

'When in doubt, Charlie out'. Go with C if you HAVE to guess.

Scientific fact that 60% of the time it works all the time.  

[Koop]

I actually majored in economics and business finance.  Working on my masters in economics now... never did any of that online stuff at UW but we did take printed quizes, at times the professor would have a question with no definitive answer (which is sometimes more common than not in economics) he would just give everyone credit for answering the question correctly.  I'm sure your professor will do something similar.

[Captain Obvious]

Root Beer I can't help you with a problem though I will say that economics teaches are bleeeeeeeeep fools.

I had economics 1 this  summer and I had taken the first test. Answers were all right but some how I got a 76 !! When I asked the professor he told me that even though all my questions were right he thought I could do better because he was holding me to a higher standers  than other people in the class.

Needless to say I was ticked even more when I ask another guy if I could see his test and he had two questions wrong yet he had a 93 !!

Even though I got a high  B in the class I was ticked because I should have had an A if it wasn't for that bleeeeeep professor.

So your rant makes me fell like I wasn't the only guy to get a terrible professor. Thanks

[LCpointerKILLA]

if the professor doesn't curve it then talk to the dean of the school of business.

[Tokyo Tony]

Root Beer I can't help you with a problem though I will say that economics teaches are bleeeeeeeeep fools.

I had economics 1 this summer and I had taken the first test. Answers were all right but some how I got a 76 !! When I asked the professor he told me that even though all my questions were right he thought I could do better because he was holding me to a higher standers than other people in the class.

Needless to say I was ticked even more when I ask another guy if I could see his test and he had two questions wrong yet he had a 93 !!

Even though I got a high B in the class I was ticked because I should have had an A if it wasn't for that bleeeeeep professor.

So your rant makes me fell like I wasn't the only guy to get a terrible professor. Thanks

Welcome to communism.

However, I find it hard to believe that someone would give a 76% when 100% of the questions were correct.

[Root beer]

He going curve my grades, he said he saw the quizzes, but he didn't know what the answers were to them.

I made an 86% on the first test which was on paper in class. He let me see what I missed and ones I miss I either mis-read the questions or I simply guess. (I admit, I guess 2 of the questions I got wrong.) I love economic, but the test usually has lot of gray areas. They will change one word in the sentence which is suppose narrow your answer(s) down.

For instance, if question ask what does government do to inflate price of farming goods?

A) Buy surplus

Acres Set-Aside program

C) Some B.S. choice

D) Some B.s. choice

The answer will be A, because as they are buying up surplus they are lowering then supply which is suppose send price up.

While the set aside program has similar affect, it doesn't necessarily assume anyone going actually buy the product produced, thus, it doesn't mean the price is really going go up.

For rest of you all, economic is gray area test. Many professor will let you argue and if they think you got valid point they curve it, but whatever. My brother told me in his Managerial Economic class, he never made above an 85 on tests and papers, but he made A as a final grade. professor award him with hard work and valid economic points on papers. Just because an economic books say so, doesn't mean it will or will not happen too many variables.

Long Mike, question number 9 is suppose be C, but McGraw hills say D. Then question number 13, it suppose to be C, but again the computer says otherwise. If you notice the answers for 9 and 13, have two different formulas for the same question... : I'm not that stupid, just grammatically illiterate.

[MitchIsFishin]

Aye, Root Beer, thar's the rub! Yes, I agree Economics are actually comprised of many 'gray' areas.

"economic is gray area test. Many professor will let you argue and if they think you got valid point they curve it"

yes they will. And it still isn't right, because absolutes in economics do exist. Still, the validity of your answer means you climb the curve.

"For instance, if question ask what does government do to inflate price of farming goods?

A) Buy surplus

Acres Set-Aside program

C) Some B.S. choice

D) Some B.s. choice"

Ahhh, well yes. And no. If government decides on a 'production-reduction' where set-asides can be used as a measure of reduction of specific farm/food commodity, then that too inflates prices. All part of the 'gray' curve.

[Root beer]

Ahhh, well yes. And no. If government decides on a 'production-reduction' where set-asides can be used as a measure of reduction of specific farm/food commodity, then that too inflates prices. All part of the 'gray' curve.

Here lies the tricky part. Ready for this B.S.? ;D

Let's say, one year the entire corn supply in United State was 100 (lets keep it simply for sake of the argument) 80 corns were actually sold above the market equilibrium price (assume there is a price floor on corn set by the government) of say 3.50 a bushel. The remaining 20 is not getting sold. Why? there no demand for the extra 20 corn, thus, the price falls back to 2.50 that was set by the government, they buy the remaining 20 corns on the market which will send any extra corn that is import or comes onto the market to be sold at higher price. If another 50 more corns comes onto market next week, it will be sold at higher market price than 2.50.(assume the demand is rising when there is no supply on the market)

Now, year 2. Government decided they want to limit surplus purchases. So, they paid off two major corn producers to limit their production and the market produce 80 corns this year. However, the market didn't need 80 corns, instead, the demand actually fell to 50 corns to be sold at 3.50, while remaining 30 corns fell to 2.50.

So in the question, it is safe to assume that buying surplus will automatically increase price. While set aside program will increase price if there is greater demand for the smaller quantity of supply, but we cannot assume the demand will be high for the price to sky rocket. Thus in the question I post above the answer is A.

Economic tests sucks.

Edited.