Household consumption decision

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Reference no: EM137645

Q1. From a random sample of 500 registered voters in LA, 400 indicated that they would vote in favor of a proposed policy in the upcoming election. How many people should be sampled so that the sampling error is at most 0.04 with a 95% confidence interval?

Q2. Assume that household consumption decision suddenly become less sensitive to change in the rate of interest. How would this affect the slope as well as position of the IS curve?

Q3. What are the strengths as well as weaknesses of the measure of welfare used by many economists: consumer welfare plus producer surplus?

Reference no: EM137645

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