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Economists use Economic Models to help explain behavior in the economy
· Why do economists use economic models when making predictions or assumptions about the economy?
· Which economic model do you believe is the most beneficial to YOU at the present time? Explain why
What is the probability that Z is smaller than 1.02? b.) What is the probability that Z is greater than 0.65? c.) What is the probability that Z is between -2 and -0.5? d.) What is the probability that the interval [Z-1, Z+1] contains the value 0?
a book store opens across the street from university book store (USB). The new store carries the same textbooks but offers them 20% lower than USB. if the cross-elasticity is estimated to be 1.5, and USB does not respond to it's competition.
What is the multiplier associated with each policy program (i.e. the multiplier AFTER the program is implemented - just the number please) Which policy program promotes economic stability. MPC = 0.8 - 0.01Y (marginal propensity to consume).
A competitive firm uses a single input x to produce its output y. The firm's production function is given by y = x3/2 for quantities of x between 0 and 4. For quantities of a greater than 4, the firm's output is y = 4 + x.
Jones Company operates within a monopolistically competitive industry. The estimated demand for its products is given by the following inverse demand function P = 1760 - 12Q It finance department has estimated its total cost function as TC
the yield on thirty-year U.S. Treasury bonds is 10%. You would be indifferent between buying a thirty-year Treasury bond and buying a thirty-year municipal bond (ignoring differences in liquidity, risk, and costs of information)
australian bureau of statistics abs provides retail data for different groups and different states as well as the
The following table shows part of the demand function for tickets to an outdoor summer concert by a popular singing group: Price (P)...Quantity (Q) 50........... 100 35.......... 180 20............300 10............500
Maria decides to switch a major and is now a student in business. in period 2, she will have a BA in business and her income will be $88000. determine Maria's lifetime wealth. determine consumption and sacving of maria in period 1 and period 2.
assume you have the following model of the expenditure sectorsp c i g nxc 400 0.8ydio 200g 300 0.1y -
What single amount on april 1 2012 is equivalent to a series of equal, semiannual cash flows of $1000 that starts with a cash flow on january 1, 2010 and ends with a cash flow on January 1, 2019
Mark McGwire hit 70 home runs while playing for the St. Louis Cardinals. In 1999, McGwire hit 65 home runs. This decrease in marginal(home runs per season) product led to an associated decrease in McGwire's average(home runs per season) product.
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