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Which of the following statements is true regarding welfare reform in 1996?
It was designed to move people out of welfare and into work.
It changed the poverty rate determination to include the value of noncash benefits.
It changed the entire process for calculating the poverty rate.
Assume that two firms sell differentiated products and face the following demand curves: = 15 − + 0.5 and = 15 − + 0.5. Derive the best response function for each firm. Do these indicate that prices are strategic substitutes or strategic complements?..
The USPS operates a network of more than 31,000 post offices. The majority of these post offices do not generate revenues sufficiently high in relation to costs to justify keeping them in operation. If the USPS were truly a private firm, many of thes..
There are two general forms often used in time series decomposition analysis: additive model and multiplicative form. Give the expressions for them. When would you use additive model or multiplicative model in time series decomposition? Discuss.
Beginning in the middle of 1999 and ending in the spring of 2000, the Federal Reserve Board raised the Federal Funds interest rate and its Discount Rate in increments which totaled 1.75 percentage points in order to slow the economy. In the paraphras..
Sarah earns $500 per week selling baskets made out of tree vines. With this money she buys sushi and rose bushes. Each piece of sushi costs $1 and each rose bush costs $10. If Sarah spends $170 per week on sushi, the maximum quantity of rose bushes c..
The Coca-Cola Company has 40% of the cola market. Determine the probability that a sample proportion
Consider a pure exchange market with two goods ( X and Y) and two consumers (1 and 2) with utilities. Draw the edgeworth box diagram for this exchange economy. What would be the competitive equilibrium? Draw the contract curve in the Edgeworth diagra..
Calculate the elasticity of demand, using the midpoint formula, as price drops from $6 to 5, then from 5 to 4, 4 to 3, 3 to 2, 2 to 1, and, 1 to 0. For each calculation in part c, state: if the price elastic, unitary or inelastic; what portion of the..
A low-carbon-steel machine part operating in a corrosive atmosphere, lasts 6 years, and costs $350 to be installed and $50 to be removed at end of life. If the part is treated with corrosion resistance, it will cost $500 to be installed and nothing t..
Suppose a union that represents some but not all of the employees in an industry is considering a strong push for increased pay for their members during the upcoming contract negotiations. However, they are concerned about the possibility that the co..
The profitability of a bank depends on several different factors. Why is “Duration Analysis” so important to a bank? What should a bank do if inflation increases? Explain with examples. What should a bank do if inflation decreases? Explain with exa..
Read the following three situations. Describe what you would do in EACH situation. Integrate the elements of reasoning and intellectual standards in your writing to show an understanding of the material behind your personal example.
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