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1. Why has nominal GDP increased faster than real GDP in the United States over time? What would it mean if an economy had real GDP increasing faster than nominal GDP?
2. If a surfboard is produced this year but not sold until next year, how is it counted in this year's GDP and not next year's?
The U.S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 13 people reveals the mean yearly consumption to be 58 gallons with a standard deviation of 18 gallons. (a-1) What is the value of the population mean
Discuss the problems of aircraft noise around an airport from an externality perspective and propose a possible solution
Identify the positive and negative characteristics of chaebols for both local and global economy. Also, explain the role they play in the South Korean economy.
What event can be used to explain the increase in the employment of information technology workers during the 1990s? What about the decrease in employment during the 2000s?
Imagine an economy where a state-owned enterprise exists alongside a private firm that produces the same good. The private firm has a TEP level that is three times as high as the SOE: Ap = 3x As x the production functions are Yp=Ap x Np
Discuss the significance of critical degree of saturation from the standpoint of predicting frost resistance of a concrete.
Provide an argument to establish that the optimal allocation must be Pareto-ancient. What assumptions have you placed upon the social welfare function?
The Committee will closely monitor incoming information on economic and financial developments in coming months. If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-back..
Suppose you do not plot the data and simply fit the bivariate regression model to the data. Obtain the usual regression output. Save the results for a later look at this problem.
If a random variable X is distributed chi square with n degrees of freedom then the expected value of X is n. Show that this is true.
What level of excess reserves does the bank now have?
The payoff to student i is 10 - xi if she gets an A and 8 - xi if she gets a B, i = 1, 2. a) Derive the strategies that survive the iterative deletion of strictly dominated strategies.
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