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A Gallup poll that was conducted in July 2014 found that out of 1,013 randomly chosen U.S. adults, 456 said that they use organic food in preparing meals.
Which of the following is the correct 95% confidence interval for p^, the proportion of all U.S. adults who use organic foods in preparing meals? (Answers are rounded as needed)
If indifference curves are convex to the origin, then a. More is preferred to less b. Willingness to trade one good for the other is constant regardless of how much you have of each good c. Averages are preferred to extremes d. None of the above
Illustrate this on two graphs with the AS/AD curves: show one AS/AD diagram with a soft monetary policy, and next to it another AS/AD diagram we an aggressive monetary policy. Show pi_1 and Y_1 as well as the long run values of inflation and short-ru..
Suppose you make an annual contribution of $100 each year to a college education fund for a niece. She is 4 years old now, and you will start next year and make the last deposit when she is 18. The fund is a money market account earning 6.5%/year. Wh..
Firm 1 and Firm 2 compete in an industry and must decide whether to introduce an upgrade to their existing products. The nature of the strategic interaction is described by the game box, where (Y) means “upgrade” and (N) means “do not upgrade”. Draw ..
When capital is plotted on the vertical axis and labor is plotted along the horizontal? axis, the marginal rate of technical substitution? (MRTS) of labor for capital along a convex isoquant
If a perfectly competitive firm and a single price monopolist face the same demand and cost curves then the competitive firm will produce a
Imagine you are the director of global business development for a large Swedish engineering company that wants to win a contract to build roads in Kenya, a project funded by the World Bank. You need to develop a relationship with the Ministry of Tran..
Your product fails about 2% of the time, on average. Some customers purchase the extended warranty you offer in which you will replace the product if it fails. Would you want to price the extended warranty at 2% of the product price? Discuss both mor..
A monopolist faces an inverse market demand P(Q) = 200 − 1 2Q and a marginal cost of MC(Q) = 20 + Q. What is the unregulated monopolist’s optimal quantity? What would an appropriate regulatory instrument to bring this market back to efficiency? What ..
You run a correlation matrix between Y variables auto sales in units and two X variables auto prices (X1) and car buyer’s income (X2). As expected auto prices had a high negative correlation to auto sales while buyer’s income had a high positive corr..
Median length of stay was 1.1 days shorter when a hospitalist cared for a Medicare patient. Median cost per case was $853 less (excluding physician fees). There were no significant differences in mortality, 30-day readmissions, or transfers. Hospital..
If the USA were to shut its borders to all potential immigrants, how would this action affect the US economy. Which sectors of the economy would suffer the most and why?
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