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What is the expressive theory of voting and what are it's implications for democracy?
An economist has predicted that for the next 5 years, the U. S. will have an 8% annual inflation rate, followed by 5 years at a 6% inflation rate.
According to literature, hypothesis testing is the basis of many studies. What is hypothesis testing? Why is this type of testing significant? Be sure to include in your discussion response the types of errors associated with hypothesis testing.
Monopolies can sometimes find themselves in difficult financial situations that lead to losses. Suppose Mr. Burns Power Company has a monopoly for providing electricity in Springfield. His costs of upkeep are so high that he is persistently losing mo..
Luke only consumes strawberries (S) and turnips (T) each week with his $36 income. The price ofstrawberries is Ps = $3/basket, while the price of turnips is Pt = $1.50/turnip. Luke’s preferences are given by the following utility function: What are t..
The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Megan spends all of her money on comic books and beignet..
Suppose the country of Utopia is an open economy and its only trading partner is the United States. In addition, we assume that the uncovered interest parity (UIP) condition holds between both countries. The government of Utopia is currently running ..
q1. given the choice between a1000 p 1.0 and b1200 p0.90 kathy prefers gamble a. does this mean she is risk averse?
The Baltimore Crab House currently has 2? workers, and is considering adding a third. If a third worker is added at a cost of? $100, and that third worker can increase the number of crabs processed from 150 to 200. The Baltimore Crab House is now con..
Ketchup is a complement (as well as a condiment) for hot dogs. If the price of ketchup decreases, using a supply and demand diagrams for hot dogs, show what happens to equilibrium price, equilibrium quantity for hot dogs, and total revenue for produc..
Mr. Odde Ball enjoys commodities x and y according to the utility function U(x,y) = √x^2 + y^2. Graph Mr. Ball’s indifference curve and its point of tangency with his budget constraint, given by pxX + pyY = I. What does the graph say about Mr. Ball’s..
Consider the production function Q = K0.5L0.5 where K is capital and L is labor. Suppose labor is fixed at 169 in the short-run.
What are the determinants of population growth? How does high population growth impact economic development and poverty? What is your prediction for global population and what policies do you recommend to stabilize population? What measurements would..
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