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Use the data in PHILLIPS.RAW for this exercise.
(i) Estimate an AR(1) model for the unemployment rate. Use this equation to predict the unemployment rate for 2004. Compare this with the actual unemployment rate for 2004. (You can find this information in a recent Economic Report of the President.)
(ii) Add a lag of inflation to the AR(1) model from part (i). Is inft-1 statistically significant?
(iii) Use the equation from part (ii) to predict the unemployment rate for 2004. Is the result better or worse than in the model from part (i)?
(iv) Use the method from Section 6.4 to construct a 95% prediction interval for the 2004 unemployment rate. Is the 2004 unemployment rate in the interval?
If interest rates remain unchanged, what is the expected capital gains yield, stated as a percentage, over the next year for Bond A and for Bond B.
Calculate the profit maximizing cost per unit if COST MART has an average wholesale cost of $350 as well as incurs marginal selling cost of $100 per unit
Solve the equilibrium in this sequential game. Be sure to characterize the quantity choices, the market price, and the resulting profits. c) Compare the above two outcomes and explain the differences.
Why should a profit maximizing manager who is setting prices care about elasticity demand curve for a product. Elasticity only accounts for how price changes revenue.
Compute the profit-maximizing output for the price leader. Illustrate what the market price is given the price leader's output in (c). Elucidate how much does each competitive firm produce.
On the other hand, people in developing nations usually degrade also pollute their environments locally also Do not have the similar high level of technology to mitigate these effects.
Elucidate the common kinked-demand model. In the oligopolist's marginal-revenue curve, elucidate the reason for gap. In this model explain how does price rigidity in oligopoly.
Illustrate what would occur to the level of domestic investment.
Describe economics and Describe the economic perspective, including definitions of scarcity, opportunity cost, purposeful behavior.
How versus simply ordering each farm to reduce pesticide use to 40% of current levels under threat of heavy fines for non-compliance.
a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company.
If George assumes the used radiator will last 3 years, but will need to be replaced so he can sell the car, which should he buy? Develop a choice table for interest rates from 0% to 50%. George's interest rate on his credit card is 20%.
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