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What factors determine the demand for British pounds in foreign exchange markets? How are exchange rates determined under a flexible exchange rate system?
The buyer-believes that the differences are normally distributed and will use this sample to perform an appropriate test at a level of significance of 0.01.
She used to work 20 hours per week, but now she decides to work 16 hours per week in order to spend more time studying economics. For this price range, her labor supply curve is vertical.
If the store maximizes profits and the price elasticity of demand for milk is -2 for coupon users, what is the price elasticity of demand for non-users?
Illustrate and explain the movement of the aggregate demand and aggregate supply curve both in the short and long run. What potential long term effect should you warn the President about?
She just stopped at a shop and knows that the price is $100. Suppose that there is a search cost of $5 for each search. Should she search for one more time?
The average height of 27 unfertilized plants is 13 cm (s = 3.9).and you wish to test whether this differs significantly (two-sided) from a mean height of 11cm. What is the value of your t-statistic
Suppose Microsoft sells the basic version of Vista to retailers such as Circuit City for $190 per copy. If Microsoft were to raise that price to $290, which of the following would happen?
What is the Optimum Currency Area. What are the requirements? Give an example of a region that satisfies the OCA requirements and a region that does not satisfy the requirements.
Consider the following payoff matrix in which the numbers indicate the profit in millions of dollars for a duopoly based either on a high-price or a low-price strategy. What will be the result when
Supply Curve and the Average Total cost. Demand curve = 50-0.001Q. Draw the long-run supply curve (assume that cost of input does not increase as output increases).
Suppose that the choices of all three stations are made simultaneously. Find the Nash equilibrium(s). (Hint: Try to set this up so it looks more like a normal form game.
Focusing only on the impact of this loss of wealth on labor supply, use the classical model and comment the implications as to the cyclicality of the real wage. Be sure to use a labor market diagram
Draw and refer to a graph of the effort function along with a labor market diagram assuming, as usual, that the efficiency wage is greater than the wage that would otherwise clear the labor market.
Finish your essay by addressing the cyclicality of average labor productivity from point A to point B. Be sure to identify average labor productivity in your graph of the production function.
Research the current value of the following economic indicators GDP, CPI, nonfarm payroll employment, industrial production/capacity utilization, advance report on durable goods shipment.
Bob has an income of $100. The price of x is $1, and the price of y is py. For what values of py will Bob buy y, and for what values of py will Bob buy only x?
What other factors besides price might be included in this equation? Do you foresee any difficulty in obtaining these additional data or incorporating them in the regression analysis?
Based on this information, the statement of partners' equity for 2010 would show what amount as total capital for the partnership on December 31, 2010?
Assume that these values are representative of all high school students. The probability is 65% that the average spending of a sample of 25 randomly-selected students will spend at least how much?
Explain briefly. Illustrate your answer with an Edgeworth diagram. Show, on the same diagram, the set of efficient trades these individuals would rationally make.
What steps can a government take to ensure that sustainable development is always considered in assessing which major economic projects or investment proposals to accept?
The demand for this delicacy is given by Q = 80 - P. MBB's costs are given by TC = 40 + 2Q + 2Q2. What is the maximum monopoly profit?
A firm under monopolistic competition faces the demand curve: P = 500 - 12.5Q. The firm's marginal cost is MC = 200 + 5Q. Find the firm's profit-maximizing output and price.
Mmonopolist faces the demand curve: P = 8,400 - 3Q, and has long-run average cost LAC = 900 - 3Q + Q2. Derive equations for revenue, marginal revenue, total cost, and marginal cost.