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Decision-Making Biases
Choose one of the common decision-making biases that you have either personally experienced or which you are "guilty" of and describe the following:
Over the past several years, the predictions of the Philips Curve haven’t exactly panned out. Now, with the expectation of meaningful expansionary fiscal policy on our horizon, and starting from near full employment, the predictions of the Philips Cu..
illustrate what is the income-expenditure multiplier in this economy. Using at least two different quality tools, analyze the data and present your conclusions.
Currently there are 2.9 workers for every retiree. Average salary is $50,000 and average benefits are $15,000. What is the average tax rate consistent with a pay-as-you-go system in equilibrium? n her novel “Sense and Sensibility”, Jane Austen wrote,..
If there are fixed costs of production in a competitive industry, the q that solves the firm’s first-order condition
what is the expected annual real depreciation consistent with interest rate parity?
Compare the additional revenue Circuit City makes as it moves from 2 million to 4 million copies of Vista with the additional revenue it makes as it moves.
Draw a supply and demand graph for a subsidy on car production. Be sure to label price paid, price received, consumer surplus before the subsidy, consumer surplus after the subsidy, producer surplus before the subsidy, producer surplus after the subs..
Using a suitable graph explain how the short run equilibrium quantity and price are determined.
Use the concept of a production possibilities curve to illustrate the choice between consumption of lifetime earnings during the period when the income was earned (horizontal axis) and consumption during retirement years (vertical axis).
Consider we wanted to know how many trips versus dinners out you could purchase. If you were told that X = number of trips and Y = the number of dinners out and you were given the following budget information; M=4000, Px=800, and Py=100, What is the ..
The wage elasticity of labor supply for women aged 18-25 is measured to be 0.3. Within this group, the average weekly wage of the high-school graduates is 2/3 the amount of college graduates. Assume that wage elasticity and all other individual chara..
Calculate the gini coefficient and the coefficient of variation for each of the following distributions. [Hint: It will save significant time if you make use of the inequality principles (population, relative income, etc.) to simplify where possible...
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