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A state job service employee wishes to estimate the mean number of people who register with the service each week. How many weeks should be sampled in order to estimate μ, the mean number of weekly registrants? The employee would like the margin of error to be less than 0.5 with probability of 0.95. Past records show the weekly standard deviation to be 2.5.
Discuss the circumstances under which the monetary policy multiplier is equal to zero. Explain why this can happen and how likely you think this is. Discuss the circumstances under which the fiscal policy multiplier is equal to zero. Explain why this..
In which type of auction is the item awarded to the highest bidder at a price equal to the highest bid? A Vickrey Auction B Common-Value Auction C Sealed-bid first-price auction D Second-Price Auction
Assume a bank faces a required reserve ratio of 5 percent. If a bank has $200,000 millino of checkable deposits and $15 million of total reserves, then how large are the bank's excess reserves?
Weekly inverse demand function is P=296-7Q, weekly inverse supply function is P=17+2Q. Find equilibrium price & quantity & solve for consumer & producers surplus. Then tax of $27 per equanimity is collected by supplier, solve for new consumer and sup..
If the price elasticity of soap is 2.5, and if the price goes up from $2.00 to $2.50, what will be the effect on the demand for soap? Hint: Calculate the percentage change in price and then plug into the elasticity formula: E = % change in quantity d..
Comment on this tradeoff between equity also growth.Explain how would you go about resolving the matter if you were the president of a small poor county.
Politicians are concerned about the growing wage inequality in the United States caused by a substantial increase in the returns to college education. A senator is proposing a law that would give firms a subsidy to buy additional capital. How might t..
The percentage of sales model takes into account the current assets to sales, and the current liabilities to sales only.
DrexelBoard wants to start a hoverboard sharing service in Philadelphia (much like Zipcar, only with hoverboards instead of cars). There are two types of potential customers: Comparing these profits to those DrexelBoard earned from only serving the y..
John’s utility of income function is U(I) = 10√I(10 sqroot I). Is John risk averse, risk loving, or risk neutral? First answer based on the shape of the utility function, then consider the following scenario. Assume that John owns a lottery ticket th..
Draw a correctly labeled aggregate demand and aggregate supply graph illustrating an economy that was experiencing a recessionary gap. From the perspective of classical economics, model what adjustment is likely to take place in either a product or f..
A new plant to produce steel tubing requires an initial investment of $10 million. It is expected an additional investment of $ 5 million in year 3 and an investment of $ 3 million in year 6. Annual operating cost will be $ 3 million. The Annual reve..
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