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A survey found that when incomes increased by 10 percent, the following changes in quantities demanded occurred: spring water up by 5 percent; sports drinks down by 2 percent; cruises up by 15 percent. Which demand is income elastic? Which is income inelastic? Which are normal goods?
The number of days it takes to travel around the equator using a hot air balloon, if the balloon averages 100 miles per day, the diameter of the earth is ~4,000 miles.
What percentage of voters are with you on that decision? How would your answer be different if the standard deviation was only $15,000?
Which point flat of the curve medicine is experienced in the following example (imagine that antibiotics have been prescribed for a given population of 1000 elderly persons. Number of prescriptions 0,100,200,300,400,500.
At 47 units of labor, a firm finds that average product of labor equals 39.6 and marginal product of labor equals 32.9. We can conclude that the average product curve at 47 units of labor is: A. vertical. B. horizontal.
For each event, you must specify how it effects either demand, quantity demanded, supply, or quantity demanded. It is also important to demonstrate how the change will affect the market demand or supply curve.
Go to the Web site of the National Income Accounts at the Bureau of Economic Analysis (www.bea.doc.gov/bea/ dn1.htm). What is the latest figure on the economy's nominal GDP? On real GDP? What was the growth rate of real GDP during the most recentl..
By computing the slopes of the respective tangent lines, estimate the rate at which the wood grown is changing at the beginning of year 10 and at the beginning of year 30.
Suppose the velocity is constant and the economy's output of goods and services rises by 5% each year. What will happen to nominal GDP and the price level next year if the FED keeps the money supply constant.
a. Identify the number of people employed, the number of people unemployed, and the number of people in the labor force. b. Calculate the labor force participation rate, the employment rate, and the labor force unemployment rate
What value maximizes revenue per member of the profession? If the benefit from the profession is vn, what is the ancient membership? Contrast these three membership levels.
Next, describe the most common forms of digital crime, and give your opinion as to why those forms you described are so common. Provide a rationale for your response.
The steel rod is placed inside the copper tube, the length of each being exactly 15 in. If the assembly is compressed by 0.0075 in., determine the stress in each component and the applied force P. The moduli of elasticity are 29 × 106 psi for stee..
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