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The average charitable contribution itemized per income tax return in Pennsylvania is $792. Suppose that the distribution of contributions is normal with a standard deviation of $103. Find the upper limit for the middle 50% of contributions.
The following information describes the value Lori Landlord places on having her five apartment houses repainted. She values the repainting of each apartment house at a different amount depending on how badly it needs repainting. Value of new paint o..
Describe the considerations that have to be taken when writing an application designed to drive a database by more than one simultaneous user?
If a firm in the industry wishes to increase total sales revenue (ignoring cost considerations), will it raise or lower its selling price? Why? What happens to the demand for beer if the price of soda falls by 2%? Explain your answer. What happens to..
Assume that PY increases by 15%, what percentage effect on quantity demanded of product X could be expected.
The following information is available for an economy: Consumption function: C = 220 + .8(Y-T) Investment: I = 400 Net Exports: NX = -140 Full Employment or Potential GDP = 3500 Currently, Calculate the current level of (equilibrium) GDP. Suppose tha..
The maintenance costs are expected to be $200 the first year, with an annual increase of $75. If an interest rate of 6% is used
Economic expansions in Europe and China would cause
Suppose that the demand curve for wheat is Q = 100 − 10p and the supply curve is Q = 10p. The government imposes a price ceiling of p = 3. Describe how the equilibrium changes. What effect does this price ceiling have on consumer surplus, producer su..
Name and discuss the four major theories that address the term structure of interest rates. In your discussion, indicate the strengths and weaknesses of each of the theories and which theory or theories appear to be the best accepted as explanations ..
Consider and economy with two consumers, Jeff and Jay, and producing two goods, wine and cheese. Illustrate using an Edge worth Box diagram and a production possibilities frontier together, both efficiency in exchange and efficiency in production. Id..
If the CPI was 110 last year and is 121 this year, what is this year’s rate of inflation? In contrast, suppose that the CPI was 110 last year and 108 this year. What is this year’s rate of inflation? What term do economics use to describe this second..
Dave’s Dogs is a firm that originally sold hotdogs and soft drinks from a cart located in front of City Hall. Then Dave purchased another hotdog cart and hired someone to sell hotdogs and soft drinks near the high school. Both locations have been suc..
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