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Starting salaries of economics majors have a mean of $47,000/year with a standard deviation of $8,000. What is the probability that a random sample of 100 majors will have an average salary of more than $50,000 year?
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?
Suppose instead that the government wishes to impose a value tax of $0.25 on each dollar of the consumer's expenditure on good 1.Show the effect of imposing this tax in a graph containing before and after budget lines.
Give at least three explanations of why economic reasoning would argue that this is to be expected.
Currently, the extent of our economic difficulties has caused the economic policymakers to choose fiscal and monetary policies that are both expansionary.
Suppose an economy with constant state unemployment. the separation rate is 2.5 percent per month and the finding rate is 47.5 percent per month.
Simpson's Scuba Company is a manufacturer and retailer of scuba machine. Currently, the Company has no coordinated cash management system, and the firm's management has decided to focus on ways to improve the cash collection process.
The World Bank is at present advising newly industrialized countries on how to encourage growth and they have asked for your help.
For an unknown reason, aliens kidnapped all immigrants residing in the US. One morning America wakes up and finds that the only people left in the country are American citizens, while all legal and illegal immigrants are gone.
The Present Worth (PW) of the cost (- Installed cost and operating cost + Salvage value) of Westinghome is most nearly
What are the percentage increases in the price of food and in the price of clothing and what is the percentage increase in the CPI?
Provide a business or political example of the prisoner's dilemma from the field of game theory. What is the payoff for each participant in your example.
Explain how many baseball jerseys will you sell in Los Angeles and how many in Brooklyn. What will be the price of your jersey in Los Angeles and what will be the price in Brooklyn.
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