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In a perfectly symmetric distribution, which of the following statements is false? ?The distance from the smallest observation to Q2 is the same as the distance from Q2 to the largest observation The distance from Q1 to Q2 equals to the distance from Q2 to Q3 The distance from Q1 to Q3 is half of the distance from the smallest to the largest observation The distance from the smallest observation to Q1 is the same as the distance from Q3 to the largest observation
Why is economics a science of choices? Explain the kinds of choices confronting workers and employers in labor markets. Distinguish between microeconomics and macroeconomics.
Why is the financial system of a country important for long-run economic growth? Firms care about their after tax return on investment projects. Consider the following data for closed economy
The market allows for proportional representation of minorities, but minorities must yield to the views of the majority when activities are undertaken through government.” In your own words, explain the meaning of this statement. Is the statement ..
One example is deciding which side of the road to drive on. It doesn't matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt.
Assuming a constant marginal cost, a lower price elasticity of demand would call for a relatively lower mark-up ration. Mark-up pricing might be more suitable for monopolies. The higher the fixed cost the lower the break-even output quantity.
A new machine will cost $100,000. Net cash flow before depreciation and taxes are $250,000 per year for 5 years. The machine would be depreciated (straight-line) over 5 years with no salvage value. What is annual net cash flow after depreciation and ..
In a world in which all markets were perfectly competitive, the ceaseless search for maximum profits will drive all prices down to the level of minimum average cost in the long run. Agree or disagree with this statement and explain your reasoning.
If the Fed purchases Treasury Bills from banks:
Describe some of the factors needed to reengineer corporate thinking that Southwest Airlines already exhibits. What specific elements of a corporate entrepreneurial strategy are apparent within Southwest Airlines? How was Herb Kelleher instrumental i..
The equilibrium allocation is stationary over time. Write down the market-clearing condition for an arbitrary date t. Find the real rate of return of at money at the monetary equilibrium. What is the gross rate of in ation?
Discuss why silence can be an effective response to a request for a last-minute concession and when the nickel-and-diming approach can be utilized most effectively.
Use your own words to explain the idea of equilibrium in the income-expenditure model. As part of your answer explain what happens when aggregate expenditure either exceeds or falls short of output in the current period and what impact this has on pr..
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