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Econ 330 Sports Economics Final Exam Questions And Answers
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Econ 330 Sports Economics Final ExamQuestions And Answers
General: All employees, you pay for it, low pay - correct answer
✅General Skills
Specific: Good for one employer, employer pays, higher pay - correct
answer ✅Specific Skills
MRP is what society values the product as - correct answer
✅Understand marginal revenue product and the profit-maximizing
point between MRP and wage rates.
What do athletes produce
How do stats translate to output
What is the value of the output - correct answer ✅What are the three
main problems with determining one's MRP?
Collective bargaining - correct answer ✅In a bilateral monopoly how is
final pay determined?
High skill and all in the same league - correct answer ✅Why are sports
unions considered hybrid unions?
Maximum and Minimum salary a team must spend
Promotes Competitive balance
, Econ 330 Sports Economics Final Exam
Questions And Answers
- Limits win maximizers' spending
- Limits large market spending
- All teams spend about the same - correct answer ✅Be able to
describe what a salary cap is and how it promotes competitive balance.
Projected AR x CBA Percentage = Player Cost Amount
Player share of AR = "Player Cost Amount"
Max is 48.5% - correct answer ✅In the NFL, what are the players share
of 'average revenue'?
95% - correct answer ✅Minimum the league must spend NFL
90% - correct answer ✅Minimum the team must spend NFL
In the offseason, only the top 51 salaries affect the cap - correct answer
✅In the NFL, what is the Top 51 Rule?
Teams must set aside funds from their salary cap to pay newly drafted
players - correct answer ✅In the NFL, what is the rookie salary cap?
The majority of the money in contract is in the later years of the
contract - correct answer ✅In the NFL, what is meant by 'black-loading'
contracts?
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