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Tennessee just instituted a state lottery. The initial jackpot is $100,000. If the first week yields no winners, the next week's jackpot goes up, depending on the numbers of previous players who placed the lottery bets. The probability of winning is one in a million (1-10 -6). What must the jackpot be before the expected payoff is worth your $1 Bet? Assume that the state takes 60% of the jackpot in taxes, that no one else is a winner, and you are risk-neutral (i.e. you value the lottery at its expected value).
Based on costs and revenues above, which should you do. Elucidate and show any relevant calculations.
Suppose the real side of an economy is characterized by: Y = 80K1/2 L1/2 K=100 and L= 100 G = 3000 T = 3000
If the Fed instead maintained the money growth rate from part a, what is likely to happen to inflation D. Which policy do you think is better in the short run? Which is better in the long run?
increases the amount of a product that consumers buy because it keeps the price below the competitive market equilibrium. Elucidate do you agree with the student's reasoning.
Illustrate what is the key assumption of the basic Keynsian model? Explain why this assumption is needed if one is to accept the view that aggregate spending is a driving force behind short-term economic fluctuations.
Under the factors that government spending is cut, and taxes increase. how would you argue it positively.
Illustrate what are different types of unemployment and how do they affect economy. Illustrate what is inflation. Illustrate what is deflation.
One person using one computer can produce 11,000 typed pages per year, and the price per page for your service is $2. Depends on the costs and revenues above, which should you do. Elucidate and show any relevant calculations.
The length of a Colorado brook trout is normally distributed. Illustrate what is the probability that a brook trout's length exceeds the mean.
A concrete and building materials company is trying to bring the company funded portion of its employee retirement fund into compliance with HB-301.
What does it mean to have an imperfectly competitive market. Clarify with examples.
Suppose you are a marketplace analyst specializing in theme parks also you're examining Disneyland's stock.
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