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GOOD Price yr 1 Quantity of Goods year1 Price yr2 Quantity of goods yr2
Quarts of icecream $6 4 $6 6
Bottles of shampoo $4 2 $4 3
Jars of PeanutButter $3 4 $3 3
What was GDP in yr 1? $___What was GDP in yr2? $___
Design a simple econometric research project
A quality control inspector chooses a part to be tested. The part is then declared acceptable, repairable, or scrapped. Then another part is tested.
The Clap Chemical Company needs a large insulated stainless steel tank to expand its plant. Clap has located such a tank at a recently closed brewery. The brewery has offered to sell the tank for $15,000 delivered.
An Economics section at a large university keeps track of its majors beginning salaries. We address the question of the value of taking econometrics
An analysis of stock market manufactures the following data about the returns of two stocks.
Setup a two-variable regression model (i.e. write down the PRF) to examine the impact of per capita disposable income on real per capita gasoline expenditures.
The European Engine Corporation is a multi-national producer of small gasoline and diesel motors. European Engine Corporation has estimated the following cost experience for a new 3.5 hp engine over a sample of 122 observations,
Determine national income (NI) for 2008 and what does national income tell us? Discuss the difference between GDP and NI?
Using the similar 6-economic indicators selected for your Industry Overview Paper, differentiate at least two year forecasts from two separate sources,
What is Shelly's marginal rate of substitution when L = 100 and she is on her budget line? (c) What is Shelly's reservation wage? (d) Find Shelly's optimal amount of consumption and leisure.
Use a Keynesian 45-degree diagram to show the effect of an increase in government spending and how could a reduction in tax rates increase government's tax receipts?
What total output must the cartel produce in order to maintain this price and what output will an individual firm be restricted if this price is to be maintained (assume all firms are permitted to produce the same level of output)?
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