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Thirty-five percent of teens buy soda (pop) at least once each week. Eleven kids are randomly selected. The random variable represents the number of these kids who purchase soda (pop) at least once each week. For this to be a binomial experiment, what assumption needs to be made?
Draw a graph of the market for chewing gum. What are the equilibrium price and quantity? Mark the equilibrium price and quantity in the graph.
Compare and contrast free and fair trade. After reading the case study “Fair Trade Coffee: What are the similarities and differences in free versus fair trade arrangements? How are these reflected in the actual prices of coffee? Are fair trade princ..
Suppose that we know that the domestic demand function for peanuts (holding domestic income and other demand shifting variables constant) is: If there is no international trade, what is the equilibrium price and quantity? Suppose that the world price..
Compare and contrast static scoring of the budget with dynamic scoring when it comes to evaluating the effect of a policy change.
A friend tells you that you should never be a patient in a teaching hospital because the death rate among patients in teaching hospitals is higher than in other hospitals. Interpret the meaning of the regression coefficient on the explanatory variabl..
Suppose the Federal Reserve begins to increase the supply of money at an increasing rate. What impact would that have on GDP, unemployment, and inflation? Would a shift of AD to the right tend to make the equilibrium quantity and price level higher o..
In the 1990's what were the levels of U.S. imports and exports during this time. How do they relate to other economic outcomes such as the GDP, foreign exchange rates, and so on?
RTC Financial Inc., in Essex County is considering the following two investments: the first investment pays 1% interest per month, compounded monthly, while the second pays 3% interest per 3 months, compounded quarterly. What is the effective quarter..
A friend of yours needs to decide whether or not to invest in a multiyear project. If your friend decides not to invest the project, he or she has nothing to lose or gain. If your friend decides to invest the project, the initial cost is $14,000. The..
Suppose the Congress decides to reduce transfer payments but to increase government purchases of goods and services by an equal amount. That is it undertakes a change in fiscal policy such that ΔG = - ΔTR. Find the change in equilibrium income. What ..
Microsoft has been a giant in the software industry. Can we define Microsoft as a monopoly? Please explain. In addition, whether the Learner Index works well to define the market power for Microsoft in the software industry? Explain your answer.
a. What is the probability of finding only one case of unmixed drugs? b. What is the probability of finding five cases of unmixed drugs?
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