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Suppose P(X1)=.75 and P(Y2/X1)=.40. What is the joint probability of X1 and Y2?
The Budget Line: The Consumer Constraints The consumer would like to maximize his satisfaction by reaching the highest possible indifference curve. But in the process, he faces
Take a position on the following economic issue in the "yes" or "no" selection, support your position with economic theory and critical thinking skills. ISSUE: Should the Feder
Quantity Equation-Has this theory worked? Why or why not?
How can we answer in Economic terms this questions: Why should the government consider to increase tax on cigarette
Upon taking his first job at college your Dad earns an annual salary of $38,000 and set a goal to earn $10000 per year. If his salary increases at an average annual rate of 12% how
ISSUES RELATED TO BALANCE OF PAYMENTS: It is to be remembered that the Indian economy witnessed varying intensities of BOP problem during 1956-9 1. However over the 1990s,
Let kids denote the number of children ever born to a woman, and let educ denote years of education for the woman. A simple model relating fertility to years of education is kids =
What is the difference between an economic luxury and an economic necessity? Ans) An economic luxury is wasting land on pools huge garden, etc. An economic requirement is what y
By given scenario answer the following questions. 1. What phase of the business cycle is the economy? 2. If inflation increased by 5% during the same period, what was the cha
1.the AD curve represents at the same time the demand for goods, money and labor in the economy 2.in the AS-AD model, higher competition among producers leads to a medium run equil
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