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A recent study of long distance phone calls made from WPU, showed that the length of the calls follows the normal probability distribution with a mean of 3.2 minutes per call and a standard deviation of 0.50 minutes. (a) What fraction of the calls last between 3.2 and 4 minutes? (b) What fraction of the calls last more than 4 minutes? (c) What fraction of the calls last between 4 and 4.5 minutes? (d) What fraction of the calls last between 3 and 4.5 minutes?
(Effects of Fiscal Policy) Recently some legislators have called for tax increases to reduce the federal budget deficit. Conservatives have countered that such tax increases could
Regional Trading Arrangements: You have seen in earlier Units that India has been playing an active role in WTO discussions. While Hong Kong WTO Ministerial has saved and kept
Suppose a consumer's income increases from $30,000 to $36,000. As a result, the consumer increases her purchases of compact disks (CDs) from 25 CDs to 30 CDs. What is the consumer'
"Nearly all critics agree that consumers have the most benefits in a perfectly competitive market." Does the above statement apply to microeconomics or macroeconomics? Why? Think a
Explain the adjustment to the new equilibrium price from an increase in demand.
Explain the Exchange rate system in western world The most common exchange rate system in western world during previous century was the fixed exchange rate system. Up to 1930s,
Define the Fisher equation Fisher equation is: Money supply (stock of money) x velocity of circulation of money = price level x total transactions in the economy or MV =
Explain the notion of the hidden momentum of population growth. Why is this an important concept for projecting future population trends in different developing nations?
distnguish betweenNational income at market price and National Income at factor cost, explain the importance of the distinction
What is Consumer Price Index CPI is a price index of a specific basket known as the CPI-basket. CPI-basket contains essentially all the service and goods consumed in a country
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