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A graduate admissions committee has finally come to realize that it cannot make valid distinctions among the top applicants. This year the committee rated all 500 applicants and randomly chose 10 from those at or above the 80th percentile. (The 80th percentile is the point at or below which 80 percent of the scores fall.) What is the probability that any particular applicant will be admitted (assuming you have no knowledge of his or her rating)?
Entry of firms in a monopolistically competitive industry is characterized by two "external" effects. What are these effects and how do they affect a monopolistically competitive firm. How are consumers and incumbent firms influenced by these exte..
A change in the real money supply can result either from change in the nominal money supply through Federal Reserve policy ( holding the price level constant) or from a change in the price level( holding the nominal money supply constant).
Faced with constantly changing conditions, why would a firm ever keep any factors fixed? What criteria determine whether a factor is fixed or variable?
A hotel owner, having heard that new hotels consider to open in area, says, We have too many hotels in this town already. Statistics show that vacancy rates average 20% on any given night.
you are responsible for economic policymaking in your country. your desire is to eliminate inflation keeping prices
"Fiscal Policy" Please respond to the following: Decide what fiscal policy measure has a more direct impact to the economy, an increase in government spending or an equal decrease in taxes if customer confidence is lower than the previous month.
Suppose a country is in a fixed exchange rate regime. Now suppose that individuals expect that policy makers will devalue its currency. Describe the various actions that policy makers can choose in response to this expected devaluation. Presume the e..
Which of the following statements concerning the Humphrey-Hawkins Act's unemployment and inflation targets is correct - An increase in the number of inexperienced workers in the labor force is likely to increase the unemployment rate relative to the..
What are the banks excess reserves and what is the maximum amount of additional loans that the bank can make? Show your computation.
In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in a. a shortage of 80 units b. a shortage of 44 units
In 2-3 pages (not counting cover and references), explain what expenses and costs facing today's air industry. In addition, evaluate what the current fuel costs do to the industry and how they affect the ticket prices and the patrons' flying..
Not only is this a savings of 10% over the regular rate, but it is an excellent inflation hedge for you against increasing rates in the future. Please act now by sending $57.12. If your money is worth 6% per year, determine whether this offer can b..
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