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Prejudice - Realistic Conflict Theory: This theory states that limited resources lead to conflict between groups and result in increased prejudice and discrimination. Reading in Chapter 13 about the experiment carried out at the Boys Camp by Muzafer Sherif, use the Realistic Conflict Theory to explain why the groups fought. In addition, list and discuss the six conditions that the experimenters used to reduce the prejudice and offer your opinion on why you think any or all of these conditions would be effective.
Elucidate the fact that the cross-price elasticity of natural gas with respect to the price of fuel oil.
Which of the following is a characteristic of the oligopoly model?
Your financial planning client wishes to have investment savings in 20 years that will provide $1.0 million dollars of purchasing power, measured in today's (real) dollars. The current balance of the client's investment account is $75,000. In today’s..
If the cost for the first semiannual period is expected to be $85, what is the present worth of the costs for a 4-year time period at an intrest rate of 1% per month?
What is the Federal Reserve (Fed) all about? Which Federal Reserve District Bank is closest to you? Who is the current Chairman of the Fed?
Consider how the economy may be influencing your life. What has the most impact on you? Has a similar economic condition happened in the past? What is the likelihood it could happen again? What should you do to prepare for the next period of economic..
A free-market republican argues against the Pigouvian tax by pointing out that the conditions necessary for the Coase Theorem to produce an efficient equilibrium are present in this situation. Assuming that the republican is correct, describe two met..
Assume that student marks are normally distributed. A random sample of 25 students' marks yield a sample mean of 70 and a sample standard deviation of 10. Estimate the population mean of marks with 95% confidence.
Suppose a group of people decided to create their own economic system with cartons of milk serving as money. If we decided to use this “liquid asset” as our medium of exchange, and all prices were measured in cartons of milk, milk would still not be ..
You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1’s elasticity of demand is -6, while group 2’s is -3. Your marginal cost of producing the product is $70. Determine your optim..
Jennifer is a single mother oered a job at $15/hour. She has $100 of non-labor income per week (obtained via child support). Jennifer's mother watches the baby for free while she works. What is Jennifer's total weekly income if she works 20 hours/wee..
Consider a series of end-of-period CFs spanning 2043-2050, which increase by a fixed amount each period. The amount of the first CF in the series is $90 and the increment is $77. The nominal interest rate is 1.8%; compounding occurs 9 times per year...
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