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Question: 1. What role does the central limit theorem play in statistical hypothesis testing? In the construction of confidence intervals?
2. What is the difference between a null and alternative hypothesis? Among size, significance level, and power? Between a one-sided alternative hypothesis and a two-sided alternative hypothesis?
3. Why does a confidence interval contain more information than the result of a single hypothesis test?
You are the manager of a firm that produces products X and Y at zero cost. You know that different types of consumers value your two products differently.
You are the chairperson of the Board of Governors of the Federal Reserve. You believe in a Keynesian model of the economy, and your goal is to keep the economy at the full-employment level of output. How would you respond (tightening or easing pol..
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..
What are the major factors that determine investment, and what impact does each have on aggregate demand? Describe the difference between a microeconomics demand curve and an aggregate demand curve.
if the head of the central bank of japan wanted to expand the supply of money in japan in 2009 which of the following
Cresheim wrote Martin a letter stating that the oral contract had been made and setting forth all of its terms. Cresheim later refused to recognize the contract.
The demand for coffee cakes is less than or equal to 4. Five pounds of flour and 2 pounds of sugar are required to make a pan of coffee cakes, and 5 pounds of flour and 4 pounds of sugar are required to make a pan of Danish pastries. A pan of coff..
Describe the relationship between unemployment and real and nominal wages. Which is more important and why What effects would either an increase or decrease in unemployment have on wages
Assume the total demand for fish and the total supply of fish per month in the Kansas City fish market are as follows:
Assume the market demand curve in an industry is characterized by P=1-Q, where P is the market price and Q is the total quantity supplied to the market. Assume there are three firms in this industry.
Let QD = 60 - P and QS = 2P - 90 describe the demand and supply function for a commodity. Suppose that government imposes a $3 tax per unit sold on producers. What is the tax burden (incidence) of producers
here are some hypothetical numbers used to illustrate the ideas of trade-offs specialization and comparative advantage.
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