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A recent study in NJ showed that 50% of all patients will return to the same dentist. Suppose nine patients are selected at random, what is the probability that: (a) exactly five of the patients will return? (b) All nine will return? (c) At least eight will return? (d) At least one will return? (e) How many patients would be expected to return to the same dentist, i.e., what is the mean of the distribution?
briefly explain any five uses of national income statistics
Q. Is Household savings depend on GDP in the cross model? Household savings depends on Y since S H = Y - C - NT and C and NT both rely on Y. How it depends on Y can't be concl
Government revenue, government spending and net exports G, NT and NX are exogenous variables in the classical model In the classical model (and
Let the real interest rate, i r , equal 5 percent and the rate of depreciation, d, equal 10 percent. In this case, if the price of a piece of capital is P K = $10,000, what is th
Imagine Adam Smith living in today's economic climate. Describe what current economic issues about which he might be most concerned with and state why?
What are the advantages of leaving resource allocation to price allocation? Ans) The 5 benefits are Neutral, Flexible, Freedom of choice, No administrative cost and lastly Dimin
When single business or corporation dominates its area and squeezes out all its competition, the result is the consumer does not have a open choice, and inevitably, the price of it
One constraint in our economy is time. As a society, we make choices about the allocation of time between work and other pursuits. In the US, most workers are eligible for overtime
Market questions come in two types: Type 1: you are given the exogenous variable change and you must shift the correct curve in the right direction and then determine the new pr
what is economic laws ans characteristics of economic laws?
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