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Sports Econ: Final Exam Flashcards | StudBud
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Sports Econ: Final Exam
Sports Econ: Final Exam
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Review of ECON 433 Sports Economics
Flashcards
59 cards
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Practice quiz
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Host live
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Questions
59
Answers
1
In which sport are the top female athletes paid the most?
Golf
Soccer
Basketball
Tennis
2
Which of the following is NOT a barrier to entry that leagues create or use?
Occupying largest metro areas
Enormous TV deals
Anti-trust law
3
The economic benefits of hosting mega events like the Olympics often outweigh the costs
False
True
4
Which league pays its players the highest average salary?
NFL
NBA
NHL
MLB
5
In which league are reported total contract amounts often
not
fully guaranteed?
NFL
NBA
MLB
NHL
6
What was the initial reason for the formation of sports leagues?
Negotiate TV contracts
Standardize the rules
Limit entry into the league
Conduct advertising campaigns
7
Which of the following is the largest source of revenue for sports franchises?
Revenue sharing
Broadcast/streaming revenue
Licensing revenue
Gate revenue
8
What type of union is a typical players' association?
A little bit of both industrial and craft
Industrial
Craft
9
Which league lost an entire season during a lockout in the last 20 years?
MLB
NFL
NHL
NBA
10
Which franchise relocation opened up the floodgates for further relocations by successfully suing its own league?
Washington Senators
Kansas City As
Milwaukee Braves
Oakland Raiders
11
What is the name of the fee that pay networks pay to leagues for the ability to broadcast events?
Cable fee
Carriage fee
Rights fee
Subscriber fee
12
Which of the following does NOT describe the new LIV golf league?
Big money contracts for golfers
Large purses for individual and team winners
Events earn no world golf ranking points
Lucrative TV contract
13
Which of these is not part of the substantivist definition of economics?
studies how humans provide for their survival
Social science
studies how humans make choices
14
A work stoppage caused by the players is known by what term?
Disbarment
Lockout
Strike
Strikeout
15
Which league has general exemption from anti-trust law except with regard to labor negotiations?
NHL
MLB
NBA
NFL
16
Which of these statistics indicates if the coefficient is not zero?
F stat
Adjusted R-squared
R-squared
p value
17
Which league was granted free agency first by court case in 1957, but was last to truly benefit from it?
NFL
MLB
NBA
NHL
18
Which of the following is NOT used by leagues to promote competitive balance?
Free agency
Promotion and Relegation
Reverse-order draft
Luxury taxes
19
Which of these is not a common hypothesis for why there are disparities in racial composition of pro athletes?
Economics
Genetics
Relative difficulty
Culture & self-selection
20
OLS produces BLUE only of the model doesn't have multicollinearity, which is another way of saying...
None of the Xs are closely related to each other
None of the errors are related to each other
the error is normally distributed
Only the right Xs are included
21
Which of the following is NOT a method for assigning probabiltites?
Stochastic
Classical
Subjective
Relative or historical frequency
22
What were the NFL players primarily seeking in the strike of 1987?
Free Agency
Higher share of revenue
Prohibition of players younger than 20
Contract limits
23
Tournament pay attempts to keep what labor supply effect dominant?
Income effect
Substitution effect
Demand effect
Elasticity effect
24
Most schools in the NCAA generate more revenue than they receive in allocation.
False
True
25
Sports leagues enjoy anti-trust exemptions with regard to what activity?
Negotiating labor contracts
Charging licensing fees
Negotiating TV deals
Limiting entry
26
Which of the following is NOT true about running a regression?
Running the regression often takes longer than compiling the data
The data you want is often not available
Your observations must include variation in each X variable
More observations is better for getting good results
27
Which of these is not one of the 'eras' or professional sports as outlined by Professor Binder?
Professionalization era
Nationalization era
Television era
Digital era
28
Which league has the strongest revenue sharing?
NFL
NBA
NHL
MLB
29
Which of the following is a name given to the take or portion of the handle sports books collect from bettors?
Sharp
Beard
Vigorish
Parlay
30
Conference realignment is being driven almost entirely by what sport?
Women's basketball
Men's basketball
Softball
Football
31
KC (-4.5) vs LA; Outcome was KC 19-17. Who won the bet?
LA
KC
32
According to their most recent HHIs, which league has the least competitive balance?
NFL
NHL
MLB
NBA
33
What amendment to the Civil Rights Act requires to provide opportunities for both sexes in sports?
Equal Participation Amendment
Fair Opportunity Amendment
Title XI
Title IX
34
Most schools in the NCAA do not collect any allocated revenue.
False
True
35
Which of these is NOT a reason local governments would subsidize pro sports facilities?
Public good of civic pride
Crowding out of other spending
Additional net export spending
New spending + multiplier effect
36
Which of the following is NOT a reason why we expect the demand curve for most markets to slope downward?
Diminishing returns/utility
Substitution effect
profit effect
Income effect
37
Which of these statistics measures the amount of variation in Y explained by the Xs?
p value
Coefficient
R-squared
Significance F
38
In which league did the players association first accept a salary cap?
NBA
NFL
NHL
MLB
39
Which principle of taxation states that the best tax is a tax on those who will benefit the most from the product?
Horizontal equity
User fee principle
Ramsey Rule
Vertical equity
40
In the NFL salary cap calculations, what is dead cap money?
Remaining roster bonuses owed to injured players
Remaining prorated bonus money paid to players not on the roster
Remaining money owed to retired players
Unpaid guaranteed money to players not on the roster
41
In which leagues is there a shortage of the very best players due to a maximum player salary price ceiling?
NBA & NHL
MLB & NBA
NFL & NHL
NHL & MLB
42
Which league had a short work stoppage in 2022 before striking a new CBA deal?
MLB
NFL
NHL
NBA
43
Which type of revenue that leads to inequality is a reason why franchises demand new stadiums?
Concessions revenue
Naming rights revenue
Luxury box revenue
Gate revenue
44
Why is the supply curve horizontal in the primary ticket market?
The franchise has pricing power
The franchise uses dynamic pricing
The franchise has no control over price
The market for tickets is very competitive
45
When was the first sports CBA agreed to?
1987
1953
1972
1968
46
Which league is most unequal in player salaries but most equal in revenue sharing?
MLB
NBA
NHL
NFL
47
Which type of discrimination is unlikely to be reduced to do economic competition?
Employer discrimination
Employee discrimination
Statistical discrimination
48
Charging a price that changes live with changes in demand is known as what pricing strategy?
Strategic pricing
Dynamic pricing
Variable pricing
Price discrimination
49
Which league has an effective but unofficial soft salary cap?
NHL
NBA
MLB
NFL
50
What is the name for the alternative option unions and employers have over striking a deal during collective bargaining?
Ultimatum Level
Hazard Mark
Threat Point
51
Which league has less disparity in revenue due to lack of regional network TV deals?
MLB
NBA
NHL
NFL
52
The p value is 0.99, which of the following is true?
Coefficient is likely zero
Coefficient is likely NOT zero
53
Which league has no restricted free agency?
MLB
NFL
NHL
NBA
54
When was the color barrier broken in professional sports in the United States?
1920s and 30s
1900s and 10s
1960s and 70s
1940s and 50s
55
In which of the following sports does the top league not have a monopsony on the best players?
Hockey
Soccer
Basketball
Football
56
Which league has an official 'soft' salary cap?
NBA
MLB
NFL
NHL
57
Which of these does NOT describe the current era of sports facility construction?
Public-private partnership for financing
Retractable roofs
Sport-specific facilities
Multi-sport outdoor facilities
58
OLS finds the line of best fit between two variables by reducing the sum of squared distances from the observation
False
True
59
What was the original 'death-penalty' in NCAA sanctions?
Reducing scholarships
Post-season ban
Scheduling boycott
Fines