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Television viewing reached a new high when the global information and measurement company reported a mean daily viewing time of 8.35 hours per household. Use a normal probability distribution with a standard deviation of 2.5 hours to answer the following questions about daily television viewing per household.
How many hours of television viewing must a household have in order to be in the top 5% of all television viewing households (to 2 decimals)?
A consumer with U=X^2/3Y^1/3 faces Px=4, Py=2, m=24. Now m=36. Show bundles A and C. What proportion of her money does she spend on good X?
Sam is an 80 year old wealthy business man who will probably live another 10 years. He has vast wealth including a 10 million home in Florida and $5mm worth of Apple common stock. He has a loving family including 3 children and 5 grandchildren and he..
What is opportunity cost, and how is it different from accounting cost? Give an example of how the Principle of Opportunity Cost applies to your life. Think of a recent decision you made.
How did the recession of 2007–2009 compare with other recessions since the Great Depression in terms of length? What effect did the recession of 2007–2013 have on government regulation? Discuss these issues with current context, 2016.
Kermit is considering purchasing a new computer system. The purchase price is $123560. Kermit will borrow one-fourth of the purchase price from a bank at 10 percent per year compounded annually. The loan is to be repaid using equal annual payments ov..
A key determinant of the price elasticity of supply is the:
Suppose the economy's production function is Y = A(300N – N^2). The marginal product of labor is MPN = A(300 - 2N). Suppose that A = 10. The supply of labor is NS = 0.05w + 0.005G. If G is 26,000, what are the real wage, employment, and output?
If market participants expect stocks in the technology sector to increase in price next year, what will happen to supply, demand and price today? Give an answer and also show with a supply-demand curve. What else would be needed for an asset price bu..
What are some ways that you use computers to communicate? How do you think computer technology will change communication in the future? Will a greater reliance on CMC change how we think about and engage in traditional forms of communication like int..
Which of the following is an example that illustrates the importance of questioning how economic variables are defined?
What is an analysis of the inverse relationship between inflation and unemployment reflected by the Phillips curve.
Cartco needs to borrow $4 million for an upgrade to its headquarters and manufacturing facility. Management has decided to borrow using a five-year term loan from its existing commercial bank. The prime rate is 3 percent, and Cartco’s current rating ..
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