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A researcher investigating public health issues goes into a junior high school class and asks the students if they have ever smoked a cigarette. The students are asked to respond orally in the presence of other students. What types of error might enter into this process, and what might be a better approach? (Minimum: 400 Words)
A firm uses labor and capital to produce output according to the production function q= 100KL, where L is the number of units of labor used and K is the number of machines. Suppose the price of capital is $120 per day and the price of labor $30 per d..
Free trade will affect a country's employment in different industries. When one individual writes a check to another individual the money supply will not be changed. A bank's required reserves are the fraction of deposits they are required by law to ..
The Pizza Company is considering entering the marketplace in your community. Use the information from "The Pizza Company Data" worksheet, located in Week 3 of your course shell, to complete this assignment.
A technology is invented that makes labor and capital perfect one to one substitutes in the production of Mint Chocolate Chip super High fat Ice-cream.
Each year since winning control of the House of Representatives in the 2010 election, Tea Party Republicans have argued that we need to immediately initiate sharp reductions in government spending and entitlement programs and rapidly move towards a b..
Recessions often are related to the fact that consumers consume less of many of the goods they typically consume. During a recession unemployment typically increases. Relate this behavior to the budget line and indifference curves that we studied.
Give an example from your workplace or personal experience of the law of diminishing marginal productivity. How might managers use the concept of diminishing marginal productivity to improve efficiency?
Daniel, a recent college graduate, is on his way home for the Christmas holidays from his new job. He gets caught in a snowstorm and is taken in by an elderly couple, who provide him with food and shelter. After the snowplows have cleared the roads, ..
What are the terms of trade? (At what rate would you each be willing to trade?) f. Using graphs for both you and Pat, show that trade allows each of you to achieve a point on your consumption possibilities curve which is greater t..
At which interest rate will an individual be indifferent between receiving $50 per year every year forever (starting one year from now), and receiving $1000 today?
The price of oil has fallen into the range of $45-$50 dollars per barrel, down from over $90 per barrel just a few years ago. Explain the likely impact of this price decrease on the market for gasoline and the market for small cars
A small consulting company is planning to make deposits such that each one is 3% larger than the preceding one. What is the annual equivalent of this cash flow if the company makes 12 deposits and the interest rate is 8%? The first deposit is $7,000 ..
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