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1)Does an increase in Gross Domestic Product mean that the nation's citizens are happier with greater well-being?
2)What if your country was taken over by Dictator Diana, who requires everyone to work 80 hours per week? GDP would almost certainly increase. Would you all be happier?
3)What if you lived on a tropical island with such abundant fish and game, fruits and berries, natural shelters like caves, and firewood that the citizens did not have to work and GDP was very low? Would the citizens' sense of well-being be lower than that of the people ruled by Dictator Diana?
Further analysis showed that for putts that were made 64.0% of the time the player was attempting to make a par putt and 18.8% of the time the player was attempting to a birdie putt. What is the probability that a PGA Tour player makes a putt
If an alternative has an advance payment of $100,000 upon contract award and then quarterly payments of $25,000 for the next 3 years, what would the cash flow diagram look like
Students of a large university spend an average of $5 a day on lunch. The standard deviation of the expenditure is $3. A simple random sample of 36 students is taken. a. What are the expected value and standard deviation of the sampling distributio..
Firm 1 at point 0 and firm 2 at point 1. The consumers transportation cost are linear in the distance to the firms localisation (d1 and d2) and the consumers are uniformly distributed on the intervall (0,1) where x E (0,1) denotes the consumers p..
open a retirement account at the local bank that pays 8%/yr/month. For the next 20 years, you will deposit $400/month into the account, with all deposits and withdrawals occuring at month's end. On the day of the last deposit, you will retire.
the per-unit prices of broccoli (B) and pork rinds (R) equal to $2 and $1 respectively, a consumer George, with an income of $1,000 purchases 400R and 300B. At that point, the consumer's MRSBR = 2R/1B. Does this mean that George would be just as w..
The construction of a dam will cost $1,000 at time 0, $500 in year 1, and $500 in year 2. It will be completed at the end of year 2. From year 3, maintenance costs will be $100 per year through year 10. From years 11 on, maintenance costs will be ..
Pay scales of federal government employees are determined according to each employee's government serve (GS) rating. GS-10 experienced accountants with the Government Accounting Office (GAO) were reported to earn salaries that are approximately no..
The Crockett Land Winery must replace its present grape-pressing equipment. The two alternatives are the Quik-Skwish and the Stomp-Master. The annual operating costs increase by 12% each year as the machines age. If the interest rate is 9%, which ..
If the price of a bottled water increases from $1.50 to $1.75, and demand decreases from 100 to 89 (per day), what is the price elasticity of demand Is it elastic or inelastic Should the owner of the store increase the price to $1.75 to increase t..
I want to deposit $10,000 now and $15,000 at the end of five years in a bank that pays 15% interest compounded semiannually. I want to withdraw an amount every year for the first five years and to withdraw $500 more for the following four years.
A university planner wants to determine the proportion of spring semester students who will attend summer school. She surveys 32 current students discovering that 12 will return for summer school.
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