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ECON 104 Study Guide - Midterm Guide: Quebecor Media, Plos One, Peer Pressure

Course Code
ECON 104
Vasyl Golovetskyy
Study Guide

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Econ 104 Economics & Government
Sample Midterm Questions
1. What do the provincial governments spend most of their money on?
2. What does the First Fundamental Theorem of Welfare Economics say?
3. Consider the following statement. “Raising minimum wage rate to $15/hr would cause an
additional 1.2% unemployment rate. We should therefore put this suggestion aside and
keep the minimum wage rate at its current $12/hr level.” Which part of this statement is
positive, and which one is normative?
4. Read the two articles below, “Older Canadians need peer pressure to keep weight down:
Study,” and “Alta. oil good for all provinces: Report.” For each, identify an externality, state
whether it is positive or negative, and suggest a policy to improve efficiency.
Older Canadians need peer pressure to keep weight down: Study
Sun News
3:23 pm, November 6th, 2012
Credits: REUTERS/Lucas Jackson
Canadian researchers say the key to preventing obesity is having active friends, especially for the
When it comes to keeping their weight in check, elderly Canadians are more influenced by their
friends and family than are young Canadians.
Researchers at Queen's University looked at 2,707 people in Montreal, and examined the exercise
patterns of three people close to them.
For those aged 18 to 54, having peers who are active meant they were more likely to be active
The same was true for those over 55, but at this point, the peers' exercise habits seemed to directly
influence a person's weight.
People over 55 with inactive friends and family were more likely to be obese- a connection not found
among younger participants.
"The study shows the importance a person's social networks have in supporting a physically active
lifestyle and reducing the odds of obesity. Our friends influence us and our obesity levels - but it
appears that relationship is stronger as we get older," lead author Spencer Moore, a professor of
kinesiology and health sciences, said in a press release.
"The findings are important to public health officials who look at ways to improve the health levels of
older adults."
The study was published in the journal PLOS One.
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