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Suppose you just got the results for your economics midterm: you scored 90 points. You also learned that the class grades were distributed normally, the average was 75 points, and the top ten percentile cutoff was 95 points. a. What is the standard deviation for the class? b. What percentile did you score in?
Assume that Congress imposes a tariff on imported autos to protect the U.S. auto industry from foreign competition.
Suppose which gross private domestic investment is $800B also the government is currently running over a $400B deficit.
Under what circumstance would you be no worse off if the company paid you cash instead of providing a car.
Assume you notice that more also more people are driving gas-guzzling cars.
In the 1790 Thomas Malthus predicted mass starvation because he believed population would always grow faster than out ability to increase agricultural production. Explain his theory in terms of diminishing returns to labor in the short run.
Illustrate what is level of utility the person will attain on a daily basis. Illustrate what will be the average level of utility attained per day during the year.
What are the short-run equilibrium values of the price level, expected price level, output, and unemployment rate. Illustrate what are the values of cyclical unemployment and unanticipated inflation.
Elucidate how production possibilities table or curve reflects law of increasing opportunity costs. Illustrate what do points along PPC recurrent (with respect to available resources).
Illustrate wow would the existence of such insurance affect the amount of clothing that people buy. How would you evaluate this change in behavior from the standpoint of economic efficiency.
Discuss why demand curve faced by a Perfect Competitor is assumed to be perfectly elastic and that of a Monopolist less elastic.
the average price level is $4 per unit also the quantity of money. Illustrate what happens to velocity if the average price level falls to $2 per unit, the money delivery is $2000 also real GDP is 4,000 units.
Illustrate what mistakes did policymakers make that have kept developing nations from growing more quickly.
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