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What is a time consistency problem, in general. What is the time inconsistency problem with inflation policy? What is the Fed's Loss function? The model we used shows that inflation will be higher than would be optimal - for both the public and the Fed; this means that it is a model of "inflationary bias." How can the effects of reputation eliminate this bias. (Think about the diner/waiter game played one time only, versus being played over and over again on an on-going basis)
If on average, a sample statistic equals a population parameter, then that statistic is considered Select one: a. unbiased b. normal c. standard error d. consistent e. a parameter
Describe the demand and marginal revenue curves faced by a firm in a purely competitive market. Are they different from those faced by a firm in oligopolistic competition?
The U.S. government pays an economist at the U.S. Department of Commerce $50,000 in salary in 2006. The economist then retires. In 2007, the government pays him $30,000 in retirement benefits. The 2006 payment is included in 2006 GDP as government pu..
Jennifer Creek is saving up for a new car. She wants to finance no more than $10,000 of the $26,000 estimated price in two years. She deposits $5,000 into a savings account now and will make monthly deposits for the next two years. If the savings acc..
The following is information from the national income accounts for a hypothetical country: Net exports? Government taxes minus transfers? Disposable personal income? Personal saving?
q.the kentucky derby is held the first saturday in may at churchill downs in louisville kentucky. the race track is one
Education (e.g., elementary and secondary education, higher education-undergraduate and graduate) b. Government (e.g., the Social Security Office, the Internal Revenue Service)
Assume that a competitive market has an upward-sloping supply curve and a downwardsloping demand curve, both of which are linear. A tax of $0.10 per unit is currently imposed in the market. Suppose that with the tax the equilibrium quantity is 70,000..
The additional output produced by a firm as a result of hiring another worker is called the marginal product of labor. The amount by which a firm’s revenue will increase as a result of hiring one more worker is called the marginal revenue product of ..
Define affirmative action. Which employers are subject to affirmative action laws? What potential effect does affirmative action have on employees and workplace? Please provide examples for your response to each question.
Every student is expected to create an original response to the open-ended DB question as well as engage in dialogue by responding to posts created by others throughout the week. At the end of each unit, DB participation will be assessed based on ..
In multiple regression analysis, explain why the typical hypothesis that analysts want to test is whether a particular regression coefficient ( B) is equal to zero ( H0: B 0) versus whether that coefficient is not equal to zero ( H1: B 0).
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