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A bus driver records the time (in minutes) it takes to commute to school for 6 days. These results are: 25, 22, 17, 20, 15, 10. Assuming the population is normally distributed, develop a 90% confidence interval for the population mean. What is the reliability factor?
Suppose the following data about the demand for goods and services. All variables are in billions of dollars. Suppose that potential level of output is $12,000 billion. Use the above data to calculate the size of the output gap?
Critically discuss the strengths and weaknesses of using per capita national income (even once adjusted for purchasing power parity) as a measure of welfare. Discuss at least two alternative measures of national welfare that have been put forward? ..
It is impossible to select as BMW's and laser printers are fundamentally different goods with different purposes.
Explain how much profit will the perfectly competitive firms earn. How much profit will the monopoly firm earn.
What is the current annual inflation rate (based on the CPI-U) Summarize the major reasons behind this figure. What is the most recent numerical value of the CPI-U What exactly does that number mean
An American Company that sells consumer electronics products has manufacturing facilities in Mexico, Taiwan, and Canada. The average hourly wage, output, and annual overhead cost for each site are as follows: Mexico Taiwan Canada Hourly wage rate ..
Based on the above graph, answer the following questions for a monopoly and a perfectly competitive firm. A. For the monopolist: i. Profit maximizing output = ii. ATC = iii. AR = iv. Price = v. Total Revenue = vi. Total Cost = vii. Profit = GE273
The United States is one of the worlds, weathiest countries. Think of a recent case in which the dicisions of the U.S. governement were severely consrained by scarcity. Describe the trade-offs that were involved. What were the opportunity costs of..
describe how the budget constraint of a household in a two-period model is affected by each of the following changes.
Are there any examples which you can think of where you, personally, would not experience diminishing marginal utility.
Consider an economy described by the following: C' = 3.25 trillion; I' = 1.3 trillion; G' = 3.5 trillion; T' = 3.0 trillion; NX' = -1.0 trillion; f = 1; b = 0.75; d = 0.3; x = 0.1; ? = 1 and r' = 1. a. Derive expressions for the MP curve and AD cu..
Identify that a risk averse agent offered terms worse than actuarially fair will not choose to insure fully.
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