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The average weekly earnings of bus drivers in a city are $950 with a standard deviation of $45. Assume that we select a random sample of 81 bus drivers. a. Compute the standard error of the mean. b. What is the probability that the sample mean will be greater than $960? c. If the population of bus drivers consisted of 400 drivers, what would be the standard error of the mean?
Use diagram to describe how each of the following events affects the equilibrium price and quantity of pizza (draw a separate diagram for each event)
In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?
When the Bank of Canada sells the government bonds to a commercial bank, the commercial bank experiences a decline in reserves and in increase in bonds. Total assets are unchanged; this is just a portfolio switch between bonds and cash.
A tariff is simply a tax on imports. Use our model of the excise tax (with diagram) to describe why domestic firms request that tariffs be imposed.
Describe how a change in investment can have big impact on GDP causing a nationwide slump. Recall that investment is "small" relative to the entire economy.
The questions posed are broad and open ended so be careful to allow yourself enough research and planning time.
What are the FC, ATC, AFC, AVC and MC at these output levels?
Compute total revenue, marginal revenue, total cost and profit at each quantity. What quantity would a profit-maximizing publisher choose? What price would it charge?
President Obama pushed his massive fiscal stimulus package of $787 through the Congress and later passed by the House and Senate, whose centerpiece was spending most of this stimulus funds
Explain International Monetary System
Explain how advertising can be employed to allow Tots-R-Us to keep price average above cost without encouraging entry.
Exchange and markets, Demand supply and market equilibrium
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