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QUESTIONS
1. What is meant by the term, ‘path dependency'? Discuss how path dependency has effected the development of two major Australian economic institutions.
2. What is the role of Fair Work Australia? Why does Australia have such a powerful labour market regulator?
3. What is industry policy? How have government policies and changes in the regulation of secondary industry changed the balance between the primary, secondary and tertiary/quaternary sectors?
4. What is ‘the farm problem'? Why does this problem occur? What impact has the deregulation of the rural sector had on the farm problem?
Design a simple econometric research project
Economic growth, as examined through raise in real GDP per capita, is a target for most countries. This is often interpreted as an raise in economic welfare for citizens.
The presence of autocorrelation leads to all of the following undesirable consequences in the regression results except:
Run OLS to estimate the inverse demand function(P = f(Q)), determine how much confidence do you have in this estimated equation? Apply algebra to then find the direct demand function
If a random sample of 400 customers is selected, what is the probability of Type I error using this decision rule?
Laura desired to make a multiple regression model based on advertising expenditures and coffee times price index. Based on her selection of all normal values she obtained the following:
Answer the following questions using the above data. Compute autonomous aggregate demand and compute the short-run output.
Post-war Recessions in the UK - Identify the periods of recession in the United Kingdom since 1955, stating clearly the criteria that you are using to define recessions.
Determine the Herfindahl index for an industry composed of three companies one with 70% of the market, and the other two with 20 and 10 percent of the market respectively one company with 50% share
The following statement was released through FOMC following recent meeting on March 21. The Group, although hopeful for a future of moderate growth with moderating inflation,
A customer has provided information on the value of cars, the price of gasoline, the quantity of new cars sold in United States. Gross Domestic Product per capita is also observed.
A student is taking two courses, history & math. The probability the student will pass in the history course is .60 and math is .70. The probability of passing both is .50.
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