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A firm produces batteries that have a lifetime which is normally distributed with a mean of 360 minutes and a standard deviation of 30 minutes. The firm needs to keep an eye on the production process to ensure that everything is working properly and that batteries are not being produced that do not meet the advertised standard. This is done by calculating the mean of the sample. To do this they regularly select a sample of 36 batteries in order to test the process.
How can it be said that the factor-content approach “reveals” a country’s factor abundance? What assumptions seem crucial for making this inference? Explain.
The EU is the biggest common market worldwide. Please name the most important facts that describe the size and importance of this market.
The U.S. Economy passed through what has now come to be known as 'The Great Recession'. The government and the Federal Reserve responded with different fiscal and monetary policies. Identify these Monetary and Fiscal policies implemented by the Feder..
A primitive economy uses two inputs, capital and labor, to produce two products, food and shelter. The marginal rate of technical substitution between capital and labor in shelter production is 1/3, while the MRTS for food production is 1. How, if at..
A fungus destroys 25% of the banana crop in Central America and the number of immigrant workers who pick apples increases. What happens to the supply or demand for apples?
Compute the value of the Keynesian spending multiplier for transfer payments. Give the amount of the change in the equilibrium level of Real GDP due to a $6 increase in unemployment compensation.
Indentured servants, whites bound to service for a limited amount of time, were an important part of the labor force in colonial America. In many areas, they outnumbered slaves during the 17C. In exchange for labor over the specified period, indentur..
Why do people accept money that does not have intrinsic value?
Annie White graduated from coollege with a student-loan debt of 32000.The interest rate on this debt is 0.5%per month. if monthly payment on this loan are$618.65,how many months will it take for Annie to repay the entire loan?
How does the U.S. economy compare with other market capitalist economies with respect to its degree of industrial concentration and the nature of its antitrust policies?
Bank of America is involved in the banking of over 80 countries and helps countries to finance the government as well as businesses. Bank of America has the largest market share in the banking industry. Is it a monopoly that controls the entire banki..
Then, in the year after the 10 payments are made, you will receive 10 annual payments of $500 each. Your personal discount rate is 7.5%. Should you purchase the insurance product?
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