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You have a utility function given by U =
You are considering two job opportunities. The first pays a salary of $40,000 for sure. The other pays a base salary of $20,000, but offers the possibility of a $40,000 bonus on top of your base salary. You believethat there is a 0.50 probability that you will earn the bonus.
a) What is the expected salary under each offer?
b) Which offer gives you the higher expected utility?
c) Based on your answer to (a) and (b), are you risk averse?
An income-producing property has an annual gross rent income of $1,000,000 and annual expenses of $300,000. Every 5 years, the parking lot need to be re-surfaced at $60,000 and every 10 years, the rood will have to be maintained at $40,000.
In Milky Way Galaxy, a class of 2,000 students took a course in Astronomy. The 1st exam scores and final exam percentage reached earth, but transmission broke off after only a dozen students' scores were received.
A company experiences rising returns to scale; that is, doubling all its inputs more than doubles its output. What can be inferred about the company's short-run costs?
You shop for groceries in 2007 and buy $300 of food. Two years later, in 2009, you buy an identical "market basket" of groceries, only this time it cost $318. What is the CPI relative to 2007 as the base year
A. The Federal Reserve Bank then buys (purchases) $250,000 of U.S. government securities on the open market from Mr. X who has his checking account at Wilber National Bank. Show how you determine your answer and indicate the numerical effect this op..
What is meant by the term risk/return trade-off ?
Given a sample of n observations, the investigator estimates β2 by calculating it as the average value of Y divided by the average value of X. Discuss the properties of this estimator. What difference would it make if it could be assumed that β1 is..
Explain the CLRM assumptions discussed in class and why is OLS appropriate when all these assumptions hold - What effects does education have on the wage, according to the estimates obtained?
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value, Compensation of employees $216.2, U.S. exports of goods and services 19.8, Consumption of fixed capital 11.8,Gover..
Society puts increased demand on goods and services, natural resources, energy and industrial production. In considering all of these perspectives who should be held accountable? Use research to justify your answer.
A firm is a perfectly competitive industry with atotal revenue of Php 2 million a year when producing 200,000 unitsof output per year; a) Find the firm's average revenue (AR); b) Find the firm's marginal revenue (MR);
Why do we call mechanisms such as proportional income taxes and the welfare system automatic stabilizers ? Choose one of these mechanisms and explain carefully how and why it affects fluctuations in output.
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