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Subject: Roland G. Fryer
indicate how the economist contributed to the field of economics
indicate how that contribution changed the field of economics
This change does not need to be a ‘paradigm shift', but consider how each contribution to a greater body of knowledge might
affect how we think of, experience, and interact with that ‘greater body of knowledge'-even if the effect is subtle.
explore how meaningful his ideas might be to our understanding of the world
Consider the following classical inventory problem. A retailer must decide the quantity Q to order periodically to minimize expected annual cost. The retailer faces demand of D units per year and every order that is placed incurs an order processi..
Write paragraphs on needs and wants of ancient communities and how they exchanged their goods:Your answer must include the ff aspects
Suppose Alex's utility function for tops (x) and candy (z) is: U(x,z)= x¾ z¼ . Suppose this year she has income of 1,000 to spend on these two goods. The price of a unit of x is $25 and the price of a unit of z is $5. Her marginal utility of x is ..
Describe the part of your life that is contributing the most carbon.
Recently, a university surveyed recent graduates of the English Department for their starting salaries. Four hundred graduates returned the survey. The average salary was $25,000 with a standard deviation of $2,500. What is the best point estimate..
U.S. Nominal GDP for the year 2010 was $14,658 billion, whereas in 2000 it was $9,951 billion. The GDP deflator for 2000 (2010) was 88 (111) using 2005 as a base year. Using the compound growth formula xt+n = xt(1 + g)^n
Suppose that First Bank has $34 million in checkable deposits, Second Bank has $47 million in checkable deposits, and the reserve requirements for checkable deposit is 10%.
Total annual taxable income is $210,000; tax is: 2. Your company is in the 34% tax bracket; for an additional $32,000, your incremental tax is: 3. Your total taxable income is $64,000; you are considering an investment that will net an additional $..
Q1 kilowatts are produced at facility 1, and Q2 kilowatts are produced at facility 2 (so Q = Q1 + Q2). The costs of producing electricity at each facility are given by C1(Q1) = 8,000 + 6Q12and C2(Q2) = 6,000 + 3Q22, respectively. Determine the pro..
The cost associated with maintaining rural highways follows a predictable pattern. There are usually no costs for the first three years, but maintenance is required for restriping, weed control, light replacement, shoulder repairs, etc. For one se..
In a hypothetical economy, the annual velocity of money is 10,and level of real output is $800 billion. In year 1, the economy'smoney supply is $100 billion and in year 2 it is $112 billion.Calculate the rate of inflation between years 1 and 2
The weight of wrestlers is normally distributed with a mean of 205 pounds and a standard deviation of 20 pounds. What is the probability that a particular wrestler will weigh less than 210 pounds
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