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Suppose we have a data set with only two observations, y1 and y2. The general formula for the sample average is: sample average=1/2(y1+y2) Suppose y1 and y2 are sampled from the population in such a way so that they are correlated with each other. in particular, suppose that cov(y1,y2)= \(\gamma\) and does not equal zero. does this change wheter or not the sample average is unbiased. why or why not?
Assume that the following table describes prices, incomes, and every person lobster consumption in three U.S. cities.
Estimate total revenue function and the marginal revenue function with just this information.
Discuss the role of social diversity and business ethics as it relates to globalization? Consider how different cultures around world perform such business activities.
Given that an individual has paid the initial minimum charge, do you expect her to consume less than the amount to which the minimum charge entitles her? To answer this question properly, you need to superimpose some indifference curves on the sam..
Illustrate what are automatic stabilizers. What are some examples. What are your thoughts about the limits of fiscal policy.
During world war 2, both Germany and England had plans for paper weapon:they each printed each other's currency, with the intention of dropping large quantities by airplane. Why might this have been an effective weapon ?
Suppose the Economy has the following relationships in the Goods Market?
The baker uses the flour to make bread & sells the bread to households for RS. 6.00. The households eat the bread. What is the value added in each stages of production?
In 2009, the US Postal Service increased first-class postage rates from 42 cents to 44 cents. The service had been losing money. One of the reasons is increased competition from companies such as United Parcel Service
Economists generally agree that high budget deficits today will reduce the growth rate of the economy in the future
The ten firms have banded together to form a cartel, and the cartel sets the monopoly price. The cartel agreement limits each firm to an output of one-tenth of the total amount demanded at the cartel price.
Answer whether the following statements are true or false, explaining your answer in each case.
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