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Assume the wages in two countries are determined by the level of education only. In country A all adults have 14 years of schooling and in country B 6 years of schooling. Using the same return to education data as in problem 1, compute the ratio of income in the two countries.
Given a firm has a demand function of: P = 45-4Q and average cost function of: AC= 1.5Q+25+26/Q Calculate the values of the following when profit is maximized: i. TR and Total Cost ii. Average revenue and average cost iii. MR and MC iv. Profit
The price elasticity of demand is -1.2. What type of elasticity is this?
Land is purchased for $75,000. It is agreed for the land to be paid for over a 5 year period with annual payments and using 12% annual compound interest rate. Each payment is to be $3000 more than the previous payment. Determine the size of the last ..
When the money supply increases at the same time that velocity is decreasing, total spending will a. always rise. b. always decline. c. fall if the decrease in velocity is relatively less than the increase in the money supply. d. fall if the decrease..
Sally has set aside about $7500 for a down payment, and she has budgeted for a monthly payment of $900. She expects that her salary will increase about 5% per year in real terms,but she would like to use that increase for “fun” purposes. Sally is als..
Suppose that, for the population of all entering freshmen, the distribution of the number of correct answers would be normal with a variance of 250. what is the probability that sample variance would be less than 100?
Look up the Common Agricultural Policy and explain what this policy means and why China and India are so set against such a policy. Also, explain if you agree or disagree with China and India and defend the position
How would you classify people that have religious beliefs or their religion does not permit them to use birth control measures? This can affect the validity of your experiment.
Choose a country other than the United States and provide current (2016) statistics on mobile phone usage by operating system and include country name, the statistics, the date of the data and the source of this data.
The inverse demand for this product is P = 100?Q, where P is price and Q is aggregate output. The production costs for firms 1, 2, and 3 are identical and given by C(qi)= 20qi (i= 1,2,3), where qi is the output of firm i.
Examine how the Federal Reserve controls the money supply. In a paper, formulate how the independence of the Federal Reserve should or should not be modified in any way.
Illustrate what is explict opportunicy cost of attending college. what is an implicit opportunity cost of attending college.
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