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The U.S. Bureau of Labor Statistics publishes a variety of unemployment statistics, including the number of individuals who are unemployed and the mean length of weeks that the individuals have been unemployed. For December 2014, the Bureau of Labor Statistics reported the mean length of unemployment was 40.8 weeks. A study on the status of unemployment in City of Chicago with a sample size of 31 unemployed residents shows the average of unemployed length is 44.7 weeks and the sample standard deviation is 5.4 weeks.
a) Find the confidence intervals of the mean length of unemployment for the City of
b) Setup a hypothesis to test whether the length of time in Chicago is longer than national average, and explain the result.
Identify a market which you feel is perfectly competitive. The firms in this structure are considered price takers, are the firms in the market you chose all selling their product at the same price? Why or why not?
Movie time is a theater chain thinking of opening a new theater in a town. It is trying to decide whether to build a large theater or a small one. Estimates indicate that the small theater size would be large enough to handle demand, but Movie time i..
What is the output of each firm if they collude to produce the monopoly output. What profit does each firm earn with such collusion.
As the economy expands and approaches the peak of a business cycle, which of the following tends to happen automatically, without a specific change in policy?
The prices that people are willing to pay for goods and services mostly depend on:
Explain by how much will aggregate demand at current prices shift initially (before multiplier effects) with a$70 billion increase in government purchases.
1. What is the "middle-class squeeze"? 2. How do low unemployment rates mask the economic challenges people face in maintaining middle-class status?
Suppose that the residents of Veggie land spend all of their income on cauliflower, broccoli, and carrots. In 1998 they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50. In 1999 they buy 75 heads of cauli..
Discuss the role of the FOMC and the three major policies it implements to help regulate banks. Briefly describe the equation used to measure bank reserves and the definition of the federal funds rate and their role as operating targets of the Federa..
Conduct an analysis of a recent article and provide your evaluation and outcome expectations in an articulate and informative paper that discusses: Identification of three to five macroeconomic indices. Definition and explanation of the indices, e.g...
33 % of monetary base is held outside ?nancial institutions. Where do you think this portion of the monetary base is held exactly? Under what conditions might it return to the banking system?
congress decides to reduce our dependence on foreign oil by imposing a $.50 tax on each gallon of gasoline at the pump. Elucidate briefly what kind of supply and demand elasticity for gasoline must be present in the U.S. market, in order for this..
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