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In order to answer the questions, you will have to analyse the datasetattached via usingGRETL or other statistic software.
The data are a small selection of international indicators collated by the World Bank. A detailed description of each variable is available in the data file by clicking on Data > Read info(orData > Dataset info, depending on thegretlversion you have).
. Write down the model that you have estimated and its estimated coefficients.
Taskasksto estimate the relationship between life expectancy and income per person.
Questions 1, 2 and 3 ask to explore the data using charts and descriptive statistics. Make sure you read the questions carefully to decide which variable to put in the Y-axis (the dependent variable) and in the X-axis (the independent variable).
Questions 4 and 5 ask you to estimate two regression equations that model the relation between life expectancy and income per person, and to interpret, and in question5, to compare the results.
Use supply and demand analysis to describe why equilibrium price of apples will increase and the equilibrium quantity will fall if an excise tax is levied on apples.
Franklin D. Roosevelt ' New Deal in the 1930's aid United States to go through the depression. There were famous 3-Rs: relief, recovery and reform.
What price would Soft Rock have to charge to sell 2,000 T shirts? Compute the own price elasticity of demand when the price goes from $5 to $4.
Study an organization of your choice and recommend methods to decrease costs. Determine what effects do technologies have on costs and what are some lower cost sources organization may utilize to decrease cost?
The firm is considering a quantity discount. The first 400 units can be purchased at a price of $120, and further units can be purchased at a price of $80. How many units will the consumer buy in total?
A company wants to prepare the demand curve for its product that it is selling. How would it get the information to prepare the schedule? How could a company prepare the demand curve for the new product that has not been seen by the public?
Find the equilibrium price and quantity traded and illustrate the equilibrium on a diagram (assuming there are no taxes or subsidies, and the notation is the same as that in question 2).
What is the relationship between productivity and the cost of production, and how does the cost of production vary over the short- and long-run?
Airphone, Corporation Produces cellular telephones at a processing cost of $47 each unit. The firm manufactures an average of 250 phones per week and has a yield of 87 percent good-quality phones
What is the price elasticity of demand for tours? Interpret your answer. Given this elasticity, should Breakaway increase prices to increase revenue? Explain.
Represent this economy using the AD/AS model and explain the model and what problem will occur in the economy if no fiscal policy is pursued? What fiscal policy tools could be used to combat the problem? ECOM4000
Suppose that in an economy a $40m increase in consumption leads a $200m increase in national income. Calculate the value of this economy's marginal propensity of save.
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