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If a sample of size 18 has a linear correlation coefficient of -0.50, is there significant reason to conclude that the linear correlation coefficient of the population is negative? Use α=0.001.
Suppose 10% of all workers are of high ability. If a firm knows a worker's ability, workers of low ability are paid $20,000 and workers of high ability are paid $30,000. Obtaining a university degree can signal high ability, and the cost of degr..
Compute the AE function and plot it in diagram. What is total autonomous expenditure? What is slope of the AE function?
Draw a real expenditures curve on a graph showing a recessionary gap. Explain what happens to real GDP when it is initially to the right of the equilibrium point and why. Indicate two public policies that would be appropriate for addressing this s..
Lynn was terminated by Wal-Mart for violating it fraternization policy by having an affair with a co-worker. Lynn sued Wal-Mart for retaliatory discharge, claiming that he was actually fired because he reported Wal-Mart's
an economist might say that collage and universatys "produce" education, using facilty members and students as inputs. According to this line of reasoning, education is then "consumed" by house holds. Construct a circular-flow diagram like the one..
Suppose a manager is interested in implementing third-degree price discrimination.The manager knows that the price elasticity of demand for Group 1 is -2 and the price elasticity of demand for Group 2 is -1.2.
Elucidate in detail the Federal Reserve's Interest Rate Policy and Economic Recovery.
The city of Bookburg initially allows only one book store, which sells books at a price of $20 and an average cost of $11. Suppose the city eliminates its restrictions on book stores, allowing additional stores to enter the market. According to an..
For a perfectly competitive firm the price is $2 per unit. At this price the firm is producing and selling 10,000 units. It costs $1.50 to produce the last unit. Should the firm produce more? Less? Why?
Alfred chan decided to buy an old duplex as an investment. After looking for several months, he found a desirable duplex that could be bought for $300,000 cash. He decided that he would rent bought sides of the duplex, and determined that the tota..
Compute the profit-maximising monopoly quantity, price, and profit from serving this single consumer if Barry's Bar charges a constant price per drink rather than using some other pricing scheme. What would the quantity and profit
Explain the difference between accounting and economic profits.
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