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A researcher has collected information from mailing 300 randomly selected individuals in the Lubbock community about their attitudes about undertaking cancer preventing activities including using sunscreen, reducing weight and tobacco usage. (a) What types of sampling method was used (convenience, quota, etc).? Explain why you think so. (b) From this sample, could they expect that responses will represent attitudes of people in the Lubbock area? Explain. (c) What would be your recommendation to the researcher if the sample was to be more representative of individuals in Lubbock? Describe what you think is the best sampling method.
Your economy has a marginal propensity to consume (MPC) of 0.70. It is currently operating at a level at less than full employment. Prices appear to be sticky in this economy, but by some lucky stroke the rate of interest falls. Using the Keynesian C..
Countries seeking to adopt the euro as their currency must meet certain criteria, including the requirements to keep their government budget deficit equal to 3% or less of GDP, and to hold government indebtedness to less than 60% of GDP. Discuss why ..
The length of pregnancies are normally distributed with a mean of 268 days and a standard deviation of 15 days. What fraction of pregnancies fall within ±10 days from the mean length of pregnancies? What middle interval (of days) includes 0.95 fracti..
Nebraska’s Neat-O Grocery Store is a chain of 100 large grocery stores. Annually NNG receives 500 complaints regarding dents that customers receive on their vehicles from grocery carts in the parking lot. The grocery carts are used carelessly by cust..
What determines whether or not a resource is scarce? Why is the concept of scarcity important to the definition of economics? Discuss the impact of rational self-interest on each of the following decisions. Suppose you go to a restaurant and buy an e..
The hiring rule for the perfect competitor in the labor market is to choose that amount of labor for which the wage rate is exactly equal to
Discuss the instruments available to address global climate policy and the challenges facing greenhouse gas emissions reduction.
Nadine Love invests in a $60,000 annuity at 12% compounded annually starting today. The first of 15 receipts from the annuity is payable to Love 10 years after the annuity is purchased and on the date Love expects to retire. Calculate the amount of e..
If the price elasticity of demand for a product is equal to 4, a 1 percent increase in price of the product will cause the quantity demanded to _____ by _____ percent.
Which statement is consistent with someone saying that they received $100 in consumer surplus?
Explain how does the trade deficit affect U.S. economy. Explain how does it affect the firm or organization you work for.
find marginal cost of last unit produced. What is firms percentage mark-up of price over marginal cost.
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