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Explain why is the population shape a concern when estimating a mean and what effect does sample size, n, have on the estimate of the mean? Is it possible to normalize the data when the population shape has a known skew? How is the mean related to a confidence interval?
Explain and estimate the price elasticity of demand for a good or service of your firm, or a firm of interest to you. Estimate the price elasticity of demand by guessing at the effect of a 10 percent price change on the sales level.
Trade liberalization makes poor nations worse off because it displaces domestic production. It would be better to save fledgling domestic manufacturers from import competition in order to endorse industrial development.
In 1968 and 1980, the United States economy experienced a slowdown in productivity incremental. However, since the mid 1980s, economy has experienced higher in the growth rate in productivity.
Suppose that in Canada opportunity cost of manufacturing 2 television sets is 3 bushels of wheat. Suppose that in the United States the opportunity cost of manufacturing 2 bushels of wheat is 3 television sets.
Suppose that government imposed price ceiling on gasoline in order to prevent values from getting too high. Determine the economic implications of this action in the gasoline markets?
Assume a soft drink company is grappling with decision about whether or not to introduce to the market a new carbonated beverage with 25% real fruit juice.
Before one year Polish zloty was PLN 3.8000/USD. Since then the sloty has fallen 14 percent against the dollar. Price levels in the US have not changed, but Polish price has gone up 7 percent
Describe unequivocally why the foundation of trade has nothing to do with absolute advantage and only law of comparative advantage is relevant.
Two individuals are having a picnic. Jane brings eight litres of soft drinks and two sandwiches. Bob, on the other hand, has two litres of soft drinks and four sandwiches.
Presidents, senators and members of congress came from a different backgrounds but all must decide upon a great many issues that involve macroeconomics.
Martin Feldstein and Charles Horioka of Harvard University discusses that in a world of perfect capital market integration, there should be little long term correlation in domestic saving and investment.
The G-20 issued a statement Saturday indicating creating nations we unlikely to back off their demands that created nations do away with subsides and tariff barriers from their farm products.
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