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In your study, 280 out of 560 cola drinkers prefer Pepsi® over Coca-Cola®. Using these results, test the claim that more than 50% of cola drinkers prefer Pepsi® over Coca-Cola®. Use a = 0.05. Interpret your decision in the context of the original claim. Does the decision support PepsiCo's claim?
Trevor consumes two goods: fruit (good x) and vegetables (good y). His demand for fruit is given by x(px,m)=.04m-4.24px. His income is $322, the price of fruit is $2, the price of vegetables is $1. If the price of vegetables rises to $3, calculate to..
Suppose the government decreases taxes by 20 percent. Describe the effects to the equilibrium price level and GDP. Make sure to address consumption, disposable income, and aggregate demand in your answer.
Suppose that you are trying to determine whether OPEC is an effective cartel. Discuss how you would go about distinguishing between the following models if you could observe market prices, output levels for individual countries, and the short run mar..
Analyze the federal debt over the past 100 years, by decade. What were the major issues or causes per period?
Illustrate what fraction of the total variation in trades of Bright Side remains unexplained.
Suppose market demand and supply are given by Qd=100-2P and Qs=5+3p. If a price floor of $30 is set, what will be size of the resulting surplus?
A nation whose interest rate is rising more rapidly than interest rates in other nations can expect the international value of its currency to appreciate.
Suppose the own price elasticity of demand for good X is -3, its income elasticity is 2, and the cross price elasticity of demand between good X and Y is -5. Determine how much the consumption of this good will change if:
If Laura and Ring had three kids and $26,000 of itemized expenses, what would be their taxable income, tax, marginal tax rate, and average tax rate?
Suppose that the GDP of California increases by 14% each year. How long will it take for the GDP of California to double? Suppose that the GDP of Oregon today is exactly twice what it was 37 years ago. What was the average annual growth for Oregon ov..
How would you build a new professional relationship with an employee prior to an interview?
What is the tax climate in Kansas? What did the governor do in 2012 and 2013? What are the arguments to support this kind of policy strategy? How has the state’s tax policies affected Kansas as not only a good place to own a business, but also as a g..
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