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1. Discuss what interests you the most about econometrics and state why.
2. Discuss what you hope to take away from this class and how you will use it in your current career path.
3. Discuss how you see econometrics being used in business or economics.
4. Imagine you are an economic advisor to the Chairman of the Federal Reserve Board, and he asks you whether it is advisable to increase the monetary supply to bolster the economy. Determine what factors you would take into account and how you would apply econometrics in your advice. Explain your rationale.
Over the last decade, several firms have entered this industry and, as a consequence, Forey is earning a return on investment that roughly equals the interest rate. Furthermore, the four-firm concentration ratio and the Herfindahl-Hirschman index ..
What other variables should be considered when determining what is reasonable in terms of maintenance expense
Explain how effects of rent control are very noticeable to the public in the short run, because the primary effects of rent control occur very quickly.
The ABC Bank of Bermuda has outstanding checkable deposits of $300,000 also a reserve ratio of 10%. If it has excess reserves of $15,000, illustrate what is the size of the bank's actual reserves.
A firm sells a product in a purely competitive market. Illustrate what would the price of wheat be in the absence of trade.
Firm manufactures bicycle component upgrade kits. Kits have a short-run average variable cost of $48 and are sold for $66 each. What is breakeven level of daily output for firm.
Conclude how fixed and variable costs should be adjusted to maximize profit and identify methods to reduce costs.
Suppose that in an hour Chip can gather 8 pounds of fruit or 4 pounds of nuts. In an hour, Monk can gather 9 pounds of fruit or 3 pounds of nuts. Who should specialize in gathering nuts? Monk or Chip? both? or neither?
iv. Find the utility maximizing combination of income and leisure. How many hours will this person work? Imagine the wage rate increases to $8 per hour. Will this person work more hours?
If the firms form a cartel to maximize industry profit, what is the industry marginal revenue at the profit-maximizing level of output?
Explain the concept of countertrade. When does counter trade make sense? How does counter trade help solve the nonconvertability problem?
A standard objection to General Equilibrium models is that their long run predictions are irrelevant because in the long run we would all be dead. Evaluate this expression in the context of fiscal and monetary policies to relieve economic stress.
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