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You would like to estimate the effect of police size on city-level crime on a cross-section of cities. A regression of crime rate on policesize (per population) gives an estimate of 0. Suppose that people make their city increase police size if crime increases for some otherreason.
(a) Does that lead to a bias the OLS estimates for the causal effect of police size on crime? Explain.
(b) Does the estimated 0 coefficient mean that police size has no effect on crime?
(c) What assumptions should a valid IV satisfy in this case?
(d) Do you think electoral cycles can serve as a valid instrument (assuming incumbent city governments spend more on police in election years, ceteris paribus)? Why or why not?
a. Warner is selling in a perfectly competitive market at a price of $40. What is the profit maximizing or loss-minimizing output b. Calculate the firm's profit or loss. Show computation. c. Should the firm continue to produce in the short run
Assume that the reserve requirement is 5%. All other things equal, will the money supply expand more if the Federal Reserve busy $2,000 worth of bonds or if someone deposits in a bank $2,000 that he had been hiding in his cookie jar
If the velocity is fixed, what would the inflation rate be id the money supply was decreased $530 billion Is your answer consistent with the classical dichotomy Explain. Suppose that when the money supply changed.
Chad's income went from $1000 per week to $1500 per week.As a result he increased his consumption of steak from 1 pound aweek to 3 pounds a week. Based on his consumption patterns,what is the income elasticity of steak for Chad.
A newly graduated engineer bought furniture for $900 from a local store. Monthly payments for l year will be made. Interest is computed at a nominal rate of 6%. What interest is paid in the last month.
What is the equivalent uniform annual cost of these bits at 2.5%?
(a) indicate the best strategy for each firm. The strategies for firm A are low price and high price and the strategies for firm B are enter and don't enter. What is the best (optimal) strategy for each firm
The earnings, dividends, and common stock price of Carpetto Technologies Inc. are expected to grow at 8% per year in the future. Carpetto's common stock sells for $27.75 per share, its last dividend was $1.50, and it will pay a dividend of $1.62 a..
fancy gadgets inc. has developed a new thing-a-may-jig at a cost of 2000000. projected profits from the sale of
michelle has the comparative advantage in potatoes. James has the comparative advantage in chickens. If they each specialize in the field in which they have the advantage and then trade at the rate of 2.5 pounds of potatoes to 1 chiken,
1. fitting a straight line to a set of data yields the following prediction lineyni 2 5xia. interpret the meaning of
Suppose a randome experiment can be represented by 2 sets of events ,Aiand Bj ,with each pair of sub events (A1andA2,andB1,andB2) being mutually exclusive and collectively exhaustive. Find the conditional probabilities
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