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A realtor wants to estimate the effect of house size on house value. they collect data on house size and house value and run a regression of house value(in $)House Value, on house size(in square feet),House Size. The regression yields a positive estimate of beta1, the effect of house size on house value. However, some other variables were omitted from the regression that may be correlated with both house value and house size, The regression omits the size of the property(in square feet), PropSize, Do you expect the correlation between house size and property size---Corr (HouseSize, PropSize) to be approximately>0,<0,=0(circle one?) Explain
Suppose that the initial output equilibrium was 200 units. Assume that the consumption function is: C=25+0.8YD. Suppose there is now a decline in inestment of 8 units. What will be the new equilibrium level of income? What increase in government spen..
q. suppose that market demand for golf balls is described by q 90 - 3p where q is measured in kilos of balls. there
What examples of 1) elasticity, including an explanation of why or how they demonstrate the concept of elasticity; and 2) examples of externalities, again including an explanation of why or how they demonstrate the concept of externalities
What is the standard deviation for the class? b. What percentile did you score in?
Briefly discuss China’s journey on its economic achievement from pre-independent until today.
A nation is enjoying a good economy with high and rising real GDP, expectations for continued growth and profitability, increasing personal incomes and low unemployment (expansionary business cycle). Outline the effects on supply and demand for loana..
In countries such as Zimbabwe, which had problems with high inflation, the increased use of another country’s currency (such as the U.S. dollar or South African rand) became common. Why do you suppose this occurred?
nalyze that local government’s revenues and possible funding options for the chosen public policy. Additionally, utilizing the local government’s annual budgeting documents and any other pertinent documents, incorporate the following into your paper:
Which of the following statements uses economic vocabulary correctly?
He Office of the Registrar at UCSD took a random sample of 427 students and obtained their grade point average in college (COLGPA), high school GPA (HSGPA), verbal Scholastic Aptitude Test scores (VSAT), and the mathematics scores in the SAT (MSAT).
Tom views orange juice and apple juice as perfect substitutes: He is always indifferent between 3 glass of orange juice and 2 glass of apple juice. Suppose the price of orange juice is $1 per glass and the price of apple juice is $2 per glass. Tom ha..
The Federal Reserve open market committee which meets once every 6-8 weeks to discuss monetary policy met on June 16-17 this week. Investors around the world are searching for clues about how soon and how fast the Fed will raise interest rates.
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