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1. Real wages and productivity-are workers' paychecks keeping up?
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Ann is an expected utility maximizer and her utility function is given by u(x) = x 0. Ann's friend, Bob has offered to bet with her $10,000 on the...
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Robert's utility function for x1 and x2 is: U (x1, x2) = x1 * x2 The price of x1 is $1, the price of x2 is $1, and his income is $20.
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It is estimated that while world coffee prices hover around 50 per pound, production costs are around 80 per pound.
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Show in a diagram the effect on the demand curve, the supply curve, the equilibrium price, and the equilibrium quantity of each of the following...
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President of Rodamia making recommendations for international trade. List at least one advantage and one limitation of international trade you...
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Consider the following two-period model of a depletable resource (e., fossil fuel). The demand for the resource in period 1 is MB1= 20-Q1and in...
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The Philadelphia Phillies defeated the Tampa Bay Rays 4 to 3 to win the 2008 major league baseball World Series.
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a new version of the SAT is given to 1000 randomly selected high school seniors. The sample mean test score is 1110 and standard deviation is 123.
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Discuss the following statements. The Phillips curve implies that when unemployment is high, inflation is low, and vice versa.
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Most restaurant customers tip according to a percentage rule - between 15-25 percent of the bill.
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How to assess the size and/or growth rate of the Health Care industry relative to the national economy.
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a.What are the costs and benefits of maintaining an imperfect competitive market environment for the banking industry? b.What are the market
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A lawyer who drives a beat-up car and wears frumpy clothes may have a hard time getting clients.
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Part 2: More simple linear regression in Stata (25 points total) 1. (5 points) Consider a simple linear regression model relating the log of the...
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Find nominal GDP for the US in 2002 (dollar gures are in billions). Show your work!
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Consider a game with two players, 3' = 1, 2 where each has a continuous strategy, 3,; E [0, 4], for 2' = 1, 2. Suppose that the best response...
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Points on a budget constraint represent combinations of the goods that exactly use up the household"s income, given market prices.
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Using either a graph or table (use the one in question #10 on page 20 as a guide) use two goods to construct a production possibilities curve.
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Visit theFiscal Year 2016 Historical Tables Budgetof the US Government. Use the PDF bookmarks to find the tables and sections needed to complete the...
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The Role of Cash Reserves in fractional Banking.
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A government budget deficit is financed by a combination of (a) saving rising relative to domestic investment and imports rising relative to exports....
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$12 billion when real disposable income increases by $15 billion, what is the value of the MPC? What is the relationship between the MPC and the MPS?...
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Using a supply and demand diagram starting at equilibrium show what happens in the oil market given the following information.
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What is one disadvantage of a corporation?
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Suppose Equilibrium in a financial market: M/P = YL(i) - a. what is an expression for Y in terms of i (i. Y = . suppose the central bank holds the...
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In 2008, the world entered the worst recession since the Great Depression of the 1930s. Of course, many people lost their jobs and houses while...
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Any point inside a production possibilities curve gives what indication about the subject economy?
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In some cases, the government can intervene in the market when the equilibrium price is too high or low. For example, a price ceiling is a legal maximum price that can be charged in a particular marke
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Explain the difference between positive and normative economics. Give a real-time example of each that you found in doing some outside research.After doing some additional research on your own along w
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Your firm resells airline tickets during the busy summer travel season. Your manager argues that the firm should charge, for the same flight route, a...
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Name Page 2 of 2 7. Use the data on the table below to answer the following questions. Labor Requirements Computers Clothing Labor Hours per unit
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Do you agree with the following statement?
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assume that isoland has a closed economy. Isoland GDP is $8 trillion, its private saving is $0.5 trillion, its government saving is $0.2 trillion,...
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a) Please show an optimal combination of capital and labor for a typical cobb-douglas production function using an Isocost-Isoquant diagram.
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Small cars get better gas mileage, but are not as safe as bigger cars.
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"#1 For each of the following draw a separate diagram to demonstrate the answer. (Hint: Remember the difference in a change in demand [supply] and a...
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(T, F, U) A sharp fall in the price of gasoline would be unlikely to last very long; after all, the fall in price would lead to an increase in
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Johnny Rockabilly has just finished recording his latest CD.?
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Instructions: You are to critically analyze the content of the Cigarette Case Study listed below. Briefly summarize the content of the project.
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1. In an economy whose workers come to believe that real wages will be declining in the future, how could the current real wage and equilibrium level...
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If a population sees a large fertility decline in year "0" and the fertility remains low from then on.
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2. First suppose the market demand for "cougar caps" is given by the equation: Q:a1+a2*P-a3*P2+a4*1 Where P is the price of cougar caps, l is income,...
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Assume that interest rate parity holds. The U. five-year interest rate is 5% annualized, and the Mexican five-year interest rate is 8% annualized....
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Explain how an increased federal budget deficit resulting from a recession can actually help stabilize an economy. Describe how adjustments in wages
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Monopolies arise because a. competitive firms fail to produce quality products b.
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1 - Say's law from a classical economic perspective __________.
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In general, people who hare more productive earn higher incomes and thus pay higher taxes.
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Use the following to answer questions 4 - 5 : HTH G Spending and N TH` - - {\ HEAL GUY EL Budget Deficit Budget Surplus* CA EA REAL GUIP* 3. Refer to...
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A set of final examination grades in an introductory statistics course is normally distributed, with a mean of 73 and a standard deviation of 8.
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