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a) What is a counterfactual, and what is the fundamental problem of causal inference? How does random assignment of a treatment address this problem?
b) Describe David Freedman’s views on whether applying econometric techniques (e.g., regression analysis) to non-experimental (social science) data adequately addresses this problem. Include Freedman’s views on the role of “research design” and discuss how John Snow’s “cholera” study fits into Freedman’s critique of the overuse of statistical techniques in the social sciences.
Identify those who gave us the concepts of monopsony and human capital.
A firm has a production function represented by: q=L^(.75)K^(.25) Find a function for how much capital and labor a firm should hire to produce a given level of production in terms of the price of labor, w, and the price capital, r. Suppose w=15 and r..
what he has learned to estimate the demand for ice cream in his father's parlor during his summer vacation. Using regression analysis.
Consider a market with a demand curve of P=10-Q and a supply curve of P=Q. Before the imposition of a tax, equilibrium quantity is 5, and equilibrium price is $5 (verify this). If a tax of $5 per unit is placed on this market, quantity traded falls t..
Explain how a "rising" American dollar will affect an American company which exports apples. Since the “meltdown” of 2008, many large companies (such as IBM) have issued more debt (corporate bonds) and used the proceeds for research and development t..
consider a homogeneous product industry with inverse market demand given by p 1100 - 2q there is currently one
Substitution and income effects of a change in price of a good may be used to explain the:
Which of the following leads to an under allocation of resources to a specific economic activity?
A consumer has income of $500. chips costs $2 , and burger costs $6. Draw his budget constraint (put burger on the horizontal axis). What is the slope of her budget constraint? Draw Consumer’s indifference curves for chips and burger if you love chip..
how would you treat the possible future costs of a lawsuit that may occur as a result of this project, where the cost of the lawsuit might range from $10,000 to $500,000 with an associated probability distribution?
jim bradley is the director of the bradley bakery. he has collected data on his store for the past year. he developed a
q1. the law in ruba says no worker shall be paid less than nine slugs per hour. estimate the quantity of labor supplied
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