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LATEST HBX-ECONOMICS EXAM QUESTIONS WITH 100% CORRECT ANSWERS
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LATEST HBX-ECONOMICS EXAM QUESTIONS WITH 100% CORRECT ANSWERS LATEST HBX-ECONOMICS EXAM QUESTIONS WITH 100% CORRECT ANSWERS
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LATEST HBX-ECONOMICS EXAM 2024-2025QUESTIONS WITH 100% CORRECT ANSWERS
Which of the following events would, all else equal, cause a rightward shift of the
demand curve for yachts? Select all that apply. - CORRECT ANSWER A decrease in
the price of yachts
A change in the price of yachts would not shift the demand curve for yachts. Price
changes only affect quantity demanded, not overall demand.
An increase in household income
is correct
An increase in income would allow more households to be able to afford yachts, shifting
the overall demand for yachts at any given price to the right.
The elimination of a regulation, which had prevented boats from sailing on a particular
series of lakes
is correct
The elimination of a regulation on boats would increase the demand for yachts to sail in
previously forbidden waters.
Your toy company is looking into launching a new line of dolls and action figures but is
unsure if kids these days still actually play with them. As part of your market research,
you send out a survey to 1000 households that have purchased toys in the last five
years. You also decide to run two focus groups: one group of children ages 4-16 and one
group of parents.
Which of the following questions asked in a survey or focus group would be unbiased
and allow you to gain reliable information? Select all that apply. - CORRECT ANSWER
, LATEST HBX-ECONOMICS EXAM 2024-2025
QUESTIONS WITH 100% CORRECT ANSWERS
A survey question asking households, "How much money per month do you typically
spend on your children's happiness?"
This question is too broad and could be biased. For example, some parents will likely
overstate the amount they spend on their children to seem like better parents.
A focus group question asking children, "How often per week do you play with dolls or
action figures?"
This question could be biased. Younger children are unlikely to be able to estimate the
amount of time they spend playing with toys. It might also be the case that children lie
about which toys they use and how often.
A survey question asking households, "What fraction/percentage of income do you
estimate that your family spends on entertainment in a given month?"
is correct
This question seems reasonable and could be useful to estimate potential market size.
A focus group question asking parents, "With which types of toys do your children
typically play?"
is incorrect
This question could be biased. Parents that work during the day might not know what
kinds of toys that their kids like to play with. It might also be that parents would want
their children to play with more educational toys than they actually do.
An anonymous survey question asking children, "what's your favorite toy and why do
you like to play with it?
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