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Q. Of course we can't lose sight of original units of coefficient (for instance, in regression above, we have to know that B1 coefficient is measured as ‘dollars-per-barrel-of-gasoline/dollars-per-barrel-of-crude-oil'. But we can also change units into ‘standard errors' so that we can ask, of beta estimate, how many standard errors it is away from zero. If it is not very far from zero n we might ignore it; if it is far away from zero n we might consider it important. But how far is ‘far'?
If the government wanted to achieve the same change in GDP as in part 8 by cutting taxes instead of increasing spending, how large would the tax cut need to be.
Excise tax is collected from fishermen, who protest that y alone are bearing burden of this policy. Why might this protest be misguided.
Elucidate the black market fbr lnternet access, comprising the implicit supply schedule. the legal price. the black market supply and clemand. and the highest feasible black market priee.
Illustrate what most such asly cause the production possibility curve for vcrs also food to shift outward.
The moral hazard is the degree of risk that the insurance company is taking in order to provide coverage on the individual.
Write down the budget constraints when young also when old also the lifetime budget constraint for both types of consumers.
What percentage of the total variation in the number of calls is explained by the regression model.
Suppose that the income tax in a certain nation is computed as a flat rate of 5 percent, but no tax is levied above $50,000 in taxable income.
Alex's Furniture Mart produces and sells tables in a perfectly competitive market. When Alex's Furniture Mart produces and sells 250 tables.
Explain how much tax revenue does this tax create. Illustrate what proportion of the tax is borne by consumers.
Now suppose the factory develops an innovation that allows it to produce a shirt for the equivalent of 1 loaf of bread. What is the new radius of the factory's market area.
e marginal cost of making a copy is $.50 (50 cents). The average customer makes 4 copies at a time. Illustrate what pricing strategy will maximize your profits.
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