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Question 1 You are given regression output of a model where the yearly salaries (in $) of CFL defensive players are regressed on their number of tackles performed in their career. Salary=57298+155.26 Tackles n=167 R2=0.145 (a) What would be the predicted salary of a really bad player? (b) What is/are the advantages of running this model in log-log form? (c) Interpret the coefficient in front of the regressor. Would you expect it to be in this range (negative/positive and size)? (d) Do you believe that the coefficient represents the unbiased effect of an increase in the average number of tackles on the salary of players? (e) Do you believe this is the correct specification of the model? Which changes, if any, would you make? Question 2 You are regressing the number of kilometers travelled by car per week, a linear and random variable, on years of education and distance between the address of the individual and an arbitrarily determined geographic point in the closest city conisdered "downtown" for a sample of Canadians. Do you expect to experience any problems with this regression? Which ones? Justify and describe which elements (sign and symptoms, consequences observed in the model) would confirm/infirm your expectations.
Compute the point price elasticity of demand for bearing grease.
The economy is initially in long-run equilibrium. The AD curve shifts to the right and the price level rises. Assuming that the economy is self-regulating, the SRAS curve will shift to the left and the price level will rise even further.
market failure poverty and income inequalitylisted below are several summary statements from the 2010 census reportthe
Illustrate what would happen to the demand for iPhones if consumer income rises by 10%. Be specific. Are iPhones a normal or an inferior good.
Illustrtae what were the challenges that these policy makers perceived at the time in terms of both the Business Cycle and broader social policy.
If the United States lost hundreds of thousands of jobs, how is it that NAFTA was a best decision for the US also probably not for Mexico and Canada
In Bayonne, New Jersey, there is a large beauty salon and a number of smaller ones. The total demand function for hair styling per day is Q=180-10P, where P is in dollars.
Describe supply and demand, major reason(s) for the price increases and fluctuations, and international factors, if applicable. You should use at least four references.
barry earns 20 an hour for up to 40 hours of work per week. he is paid 30 an hour for every hour of work in excess of
The U.S. has long been suffered from trade deficits (especially with China). Explain the effect of trade deficits on economic growth in the U.S. What are the options to deal with China on trade deficits?
As seen during financial crisis of the 1930s and in history, markets are globally interconnected. Aside from financial markets, different countries have different resources.
An internal study at Mimeo, revealed that much of its workers assembles 3 copiers per hour and is paid $3 for every assembled.
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