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Explain why a weighted average is more suitable than an unweighted average when trying to measure price increases. B. (i) A well known annual book was priced at £17 when published in December 2005. The most recent edition published in December 2010, was priced £22. The Retail Prices Index stood at 194 in December 2005 and 228 in December 2010 (ii) The publishers of the book have stated that "any future price increases will be index linked to the RPI". Explain what this statement means, using a numerical example if required.
Corn is used in the production of ethanol, which is a substitute for gasoline that can be blended with gasoline to stretch oil supplies in producing refined gasoline. Much of the farmland in the America Midwest can be planted with either wheat or ..
Two indicators of economic development include Gross Domestic Product (GDP) and the Human Development Index (HDI). What is the difference between these two ways of measuring levels of economic development? Identify an advantage and disadvantage of..
Assuming no change in hours of work, if real output per hour of work increases by 10 percent, what will be the new levels of real GDP in the right column of A Does the new data reflect an increase in aggregate supply or does it indicate a decrease..
As a budding entrepreneur, you have purchased a small bagel shop. You have engaged in a market study to categorize your customers' willingness to pay for a meal (coffee+bagel) into 8 equal sized groups: ($5.00, $4.50, $4.00, $3.50, $3.00, $2.50, ..
What will be the hours of work in the hospital and in the clinic to maximize income? What will be the income earned by the physician per day? Show your work.
During the recent recession, when countries around the world suffered high unemployment rates and the governments were experiencing huge budget deficits, economists debated whether to raise or cut taxes or to raise or cut government spending.
Different races now or likely to be in workforce of the future depends on the US populations racial demographic changes.
When 2-mutually exclusive projects are considered, NPV calculations and IRR calculations may, under certain circumstances, give conflicting recommendations as to which project to accept.
Suppose that trade costs add 50% to the cost of each good when shipped, which goods would the home country then export and which goods would it import will there be any goods that are not internationally traded assume that the relative wage is 3.
How will demand and supply curve shift. Labor market for math and science teachers when wages available in private industries utilizing these skills rise or else.
A university is an M-form organization; its president administers schools, for example, a college of business and a college of liberal arts. The college of business each of these in turn has a dean who is responsible for faculty departments such a..
A popular magazine reports that wrist watches are becoming the highest fashion craze. What affect will this have on the demand for watches, and what will happen to the price and quantity of watches sold on the market
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