Question from Past Microeconomics Qualifying ExamEdit

Fall 2005 - Section II, Question one, George Mason University

Since 1900 U.S. real incomes have increased dramatically while the average number of children per family has decreased. Evaluate each of the following candidate explanations for this observation possibly using opportunity sets and indifference curves between children and all other goods:

  1. children are inferior goods;
  2. children are not inferior goods but they’ve become more expensive;
  3. preferences have changed such that couples want smaller families and
  4. instead of more children couples are choosing higher quality children.


See alsoEdit

Other QuestionsEdit

Ad blocker interference detected!

Wikia is a free-to-use site that makes money from advertising. We have a modified experience for viewers using ad blockers

Wikia is not accessible if you’ve made further modifications. Remove the custom ad blocker rule(s) and the page will load as expected.