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52% of mosquitos caught at random in any given field study carry malaria. If you conduct a study and capture 12 mosquitos, how many mosquitos infected with malaria would you expect to have in your mosquito-catching Mason jar out of all 12 mosquitos buzzing around? Round up to the nearest whole number if your calculation results in a number with decimal point values. For example, 0.2 rounds up to 1 and 74.25 rounds up to 75.
A substitute good is a determinant of supply. Government actions, such as price floors and ceilings, can actually reduce employment and raise market inefficiency. In the circular flow model, firms own economic resources, and households buy the manufa..
Why do you believe politicians are making these items priorities (and, why now in 2014)? In economics, we are looking for incentives. What incentives does a politician, looking out for their interest (invisible hand), have to promote these bills?
“While the imposition by a country’s government of an import tariff on a good clearly injures the country’s domestic consumers of the good, the tariff helps domestic import-competing producers and enhances overall country welfare (i.e., the “net welf..
The study of government regulation and the competitive environment for business is relevant to all those who study business. All business candidates need to understand how the competitive environment will impact their employers and businesses.
Consider the following short-run production function: q = 5L2 - 1/3L3. Illustrate at what level of L do diminishing marginal returns begin. At what level of L do diminishing returns begin.
Suppose that the tradeoff between unemployment and inflation is determined by the Phillips curve: u=un - α(π-Eπ) Where u denotes the unemployment rate, πn the natural rate of unemployment, π the rate of inflation, and Eπ the expected rate of inflatio..
Suppose that in January 2014, Joe Biden had borrowed $50,000 from his bank and paid an interest rate of 3%. He paid it back on December 31, 2014. What was the nominal interest C rate that Mr. Biden paid to his bank? (1) What was the real interest rat..
What management functions is Carol performing, and how do they apply to this scenario?
q. consider the following data on us gdp.year nominal gdp billions gdp deflator base year19962000 9873 1183 1999 9269
What are some of the different types of judicial philosophy in how to interpret the law? Outline the theories of judicial restraint and judicial activism. What are some of the advantages and disadvantages of each theory? Explain. Lastly, give at leas..
Daniel Dynamite runs a high end car wash called “Daniel’s Car Wash” … he’s not very creative. The car wash market is very competitive and Daniel has no control over the prices that he can charge. Concerned that he is leaving money on the table, Danie..
Plot the average total cost, average variable cost, and marginal cost curves for a single firm (remember that values for marginal cost are plotted at the midpoint of the respective intervals) What is the firm's supply curve? How many chairs would the..
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