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Go to the Bureau of Economic Analysis (BEA) website and look at quarterly data from the last few years of the National Accounts. Can you make a decision of what part of the business cycle the U.S. economy is currently in? Why? What factors lead you to this conclusion? You may want to do additional research of sources to reach a conclusion.
Illustrate what is the quantity of burgers demanded in equilibrium.
Explain why each of following is or is not a valid probability distribution for a discrete random variable x: See p.183-84. 4.16 Toss three faircoins and let x equal number of heads observed.
Assuming that wheat and barley both sell for $1, and income is $20, compute the price elasticity, cross price elasticity and income elasticity for wheat.
What is the equilibrium Price and Quantity in the market? Now suppose the government imposes a special tax on these computers. Describe what would happen in this market in terms of the supply and demand curve.
The developing country uses the $100 bank balance to import $100 worth of food from the United States (US).
Elucidate the production combinations society would like to choose. the boundary that divides all production combinations into attainable ones.
The consumer is indifferent between B and a lottery ticket with probabilities. Construct a set of von Neumann - Morgenstern utility numbers for the four situations.
A battery in a critical tool fails at 32 hours. Illustrate what is the probability it was from manufacturer 2
Elucidate the factors that affected labor demand and labor supply in the chosen historical example.
Explain how does this relate to the idea which diminishing marginal utility must be understood in context. Many people buy too much on their credit cards, even when they know they will be sorry when they get their credit card bill.
In recent yrs, persons also state governments have sued various tobacco companies to compensate for illness also injury allegedly cause d by cigarette smoking.
Illustrate what is the likely bargaining negotiation outcome if the advertisers bargain by telling each newspaper that they're going to reach agreement with the other newspaper.
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