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some recent data on the US consumer price index:
Year CPI Year CPI Year CPI1988 118.3 1994 148.2 2000 172.21989 124.0 1995 152.4 2001 177.11990 130.7 1996 156.9 2002 179.91991 136.2 1997 160.5 2003 184.01992 140.3 1998 163.0 2004 188.91993 144.5 1999 166.6 2005 195.32006 201.8
Compute the inflation rate for each year 1989 - 2006 and determine which were years of inflation. In which years did deflation occur? In which years did inflation? In which years did deflation occur? In which years did disinflation occur? Was there hyperinflation in any year?
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value, Compensation of employees $216.2, U.S. exports of goods and services 19.8, Consumption of fixed capital 11.8,Gover..
Customers to Live Theaters, Inc. can be divided into two groups: seniors and everyone else. The inverse demand curves for each of the two groups are given below. The marginal cost (which equals the average variable cost) of serving
a. Graph the short run total product curves for each production function for 0 L 25 in the case where K is fixed at 4. b. Graph the marginal product of labor curves for each production function for 1 L 25. c. Do these production functions exh..
Mapleville Tennis & Golf Club offers golf and tennis memberships to the residents of Mapleville. Market research has found there are two types of families living in the city: 120 golf-oriented families and 100 tennis-oriented families.
a farmer buys a new tractor for $146,000 and assumes that it will have a trade-in value of $92,000 after 10 years. the farmer uses a constant rate of depreciation to determine the annual value of the tractor.
A random sample of 50 engineers of a large technology company reveals that the sample mean age is 34.3 years. Assume that the population standard deviation is 8 years. Construct and explain a 98% confidence interval estimate of the average age
Imagine a manufacturing industry that produces 100 million units of compact digital cameras annually in the US market. Suppose the minimum efficient scale (MES) for the production of digital cameras is 10 million units annually.
The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell at the following prices: $30, $29, $20, $16, and $12. Five buyers are willing to buy one widget at the following prices: $10, $12, $20,$24, and ..
Vincent van Gogh can produce paintings at constant marginal cost cV V G = 1. The population of buyers of VVG paintings is grouped into two categories: Serious Art Collectors (SAC) and Casual Art Collectors (CAC). The SAC to CAC population ratio is..
If 12 percent of thoes solar energy resources could be harnessed , how long would it take for an average 50 square meter solar array to fill up a car with the energu equivalent of 15 gallon thank of fasoline
Sue consumes only two goods, food and clothing. The marginal utility of the last dollar she spends on food is 12, and the marginal utility of the last dollar she spends on clothing is 9. The price of food is $1.20/unit, and the price of clothing is..
A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume that a two-tailed test at the 0.10 significance level is to be used. For what value of t will the null hypothesis not be rejected
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