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Past Exam for ECN 131 - Public Finance with Hosseini at UC Davis (UCD)

Exam Information

Material Type:Mid-Term
Professor:Hosseini
Class:ECN 131 - Public Finance
Subject:Economics
University:University of California - Davis
Term:--
Keywords:
  • Assumptions
  • Differences
  • Medical Expenses
  • Control Group
  • Individuals
  • Commonwealth
  • Indifferent
  • Substitution
  • Data Analysis
  • Payroll Tax
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Sample Document Text

Midterm 1 ECN131: Public Finance Nov 06 Prof. Farshid Mojaver Name: ANSWER (18 pts) 1) Using examples and graphs a) Show that a cut in TANF benefit can increase labor supply. b) Show that a cut in TANF benefit does not necessarily increase labor supply c) Show that a cut in benefit reduction rate can decrease labor supply (carefully illustrate substitution and income effects). Ans. a) b) Wage Income Leisure Wage Income Leisure 1 c) (16pts) 2) Measurement using statistical methods a) How can one measure the magnitude of labor supply in response to a cut in TANF benefits using Time Series Analysis or Cross-Section Analysis? b) When are TSA and CSA most useful? c) What are the shortcomings of these two statistical methods? d) How can Panel Data Analysis help to reduce such problems? Ans) a) In both TSA and CSA we try to explain labor supply of needy families using TANF as an indepen...

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