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At Western University the historical mean scholarship examination score of entering students has been 900, with a standard deviation of 180. Each year a sample of applications is taken to see whether the examination scores are at the same level as in previous years. The null hypothesis tested is H0: μ = 900. A sample of 60 students in this year's class provided a sample mean score of 935. Use a 0.05 level of significance. Compute the probability value. What is your conclusion based on this value?
Write a formula which describes the marginal product of labour in the short run as a function of the amount of labour used.
Based on the IRS actuarial table, Mario has a life expectancy of 20 years. If Mario receives 12 monthly payments of $1000 the first year, how much taxable income must he report on his tax return.
Explain why does MySpace attract so many visitors. Why does MySpace attract so many visitors.
When workers already have a large quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity only slightly.
Illustrate what is the forecasted price of oil over the next 16 years using a discount rate of 5%.
Illustrate what is the dollar value of the deadweight loss when output level is produced? Illustrate what is the dollar value of the total surplus when output level is produced
Discuss the source of tension between cooperation and self-interest in a market characterized by oligopoly. Use an example of an actual cartel arrangement to demonstrate why this tension creates instability in cartels.
What will happen to nominal GDP and the price level next year if the Fed keeps the money supply constant. Elucidate what money supply should the Fed set in year 2009 if it wants to keep the price level stable.
If a hard freeze eliminates premium coffee crop, illustrate what will take place to the price of premium coffee.
Has consumer surplus been affected in any way due to the changes in the auto structure of industry
Explicate why one of them brings positive effects to the economy also the other negative effects.
Elucidate whether each of the following events shifts the short-run aggregate-supply curve, teh aggregate-demand curve, both, or neither.
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