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Explain why correlation does not equal causation. Describe the data characteristics necessary to calculate a Pearson correlation coefficient.
Suppose we observe the following two simultaneous events in the market for dark chocolate.
Describe the worst interface you have ever worked with and the best interface you have ever worked with.
A cost of living index is introduced in the previous exercise. Suppose the consumer’s direct utility function is u(x1, x2) = √x1 + x2. Let base and final period prices be as in part (a), but now let base utility be u0. Show that the value of the inde..
What major arguments can you list to support the doctrine of free trade? Why is the WTO important in maintaining the doctrine of free trade? What values and principles has the GATT/WTO promoted to liberalize international trade?
Suppose for a moment that someone with legislative power decides to abolish Fractional Reserve Banking and passes a law that forces banks to only lend the money they own, that is M0. What would be the economy-wise implications of such a change in the..
lean burgers drive through receives 20 customers in every ten minutes of business time between 1200 - 100 pm during
What happen if the marginal product of labor is 23, is the firm minimizing cost. What happen if the marginal product of labor is 21, is the firm minimizing cost.
What is the difference between layered security and defense in depth? Is this a distinction without a difference?
If there were 30 million employed Theralanders and Theraland had a job-separation rate of 15% per month, explain how many people would find jobs each month.
If you are tossing a fair coin 10 times, what is the probability of getting exactly 9 heads out of the 10 coin tosses?
Under what supply and demand conditions would an excise tax create a large incidence of the tax on suppliers and a small incidence of the tax on consumers? Explain how this works.
Congress has passed laws requiring that a certain percentage of retail gasoline be from ethanol produced from corn. How would this destroy wealth?
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