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Take a sample of thirty households from two counties A and B and collect data on their incomes for the past month. The information obtained (in thousands of dollars) and their corresponding frequencies is given below:
A's Income Frequency B's Income Frequency
35 4 23 249 7 15 421 3 12 639 5 11 715 6 32 528 3 18 225 2 22 4
i) Calculate the median income of A
ii) Calculate the mode income of B
iii) Based on arithmetic mean income which county has lower average monthly incomes?
iv) Calculate standard deviation of the income distribution of each county.
v) Based on the coefficient of variation which of the counties has least variability in income distribution?
Elucidate reason for both wage and cost rigidities including policy implications for se rigidities. Would you conclude on se reasons suggested by New Keynesian economists as relevant to unemployment situation in South Africa.
Which of the following factors reduces the need for government involvement in the marketplace?
illustrate what is the change in Clean-Springs' profit-maximizing levels of output, price and profit. Explain in words and with graph.
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Government A decides it wants to eliminate poverty and unemployment by immediately issuing 50,000 dollars/yr to all unemployed citizens. All said citizens receiving the 50,000 per year under this government are thereby not considered unemployed. Expl..
How many yrs (expressed with 2 decimal place precision and accuracy) will it take to triple your investment of 383 $'s,if you can obtain 5.86%/yr interest compounded continuously?
As newly appointed “Energy Czar,” your goal is to reduce the total demand for residential heating fuel in your state. You must choose one of three legislative proposals designed to accomplish this goal: (a) a tax that would effectively increase the p..
q.pretend you were hired to lead the presidents council of economic advisers in 2009. using the macroeconomic
Under what circumstance would you be no worse off if the company paid you cash instead of providing a car.
Assume the equilibrium quantity is 10M of automotive wiper blades at an equilibrium price of $2 per blade. If the government imposes a limit of 8M wiper blades for the private sector in order to support an increased need for rubber in classified oper..
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