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Presume you are interested in using time series data to estimate the following population model: yt = β0 + β1xt + β2xt-1 + β3xt-2 + β4zt-1 + ut a. Based on this population model, how much would you expect y to change among period 0 and period 4 if x increased by 1 unit in period 1 and then stayed at that level from period 2 to period 5? (Your answer will not be a number; however will be expressed in terms of βs).
An airline ticket costs the same from Casper, Wyoming to Denver, Colorado, and from Denver to Orlando, Florida. Does this make economic sense? Describe the rationale behind equal prices for unequal distances in air travel using supply, cost curves an..
Which one, shirts or sweaters, has a demand elasticity that will allow you to increase the price, sell fewer units BUT still increase your revenues?
how does your analysis of value of marginal product vmp change if the employer is a monopolist producer of its output
There are four of you in a group- representing the individuals with currency in an economy. Each of you has $100. Use this information to answer the following questions. Additionally, all banks abide by a reserve ratio of (1/5), regardless of scenari..
in the well-known case of united states vs. microsoft the us department of justice alleged that microsoft abused
In the long run, the Martha Mowers can assemble 300 mowers per week at a total cost of $18,000, 400 mowers at a total cost of $24,000, or 500 mowers at a cost of $35,000.Plot points of the long-run average cost curve for these three levels of outp..
a firm uses two inputs, capital and labor. in the short run, the firm cannot adjust amount of capital it is using, but it can adjust the size of its workforce. What happens to the firm's average total cost curve, the average variable cost curve
1. suppose that ambers demand for gasoline is given by g 1000 - 200pg where g stands for gallons of gas and pg
Incorporate this modified definition of YD into the private savings function, and identify explicitly the impact of a change in TR on private savings.
the united states has had a significant trade imbalance for several years. what are the problems associated with
How would an increase in the world price of oil affect the amount of frictional unemployment. Is this unemployment undesirable. What public policies might affect the amount of unemployment caused by this price change.
To be meaningful, a price ceiling must be below the market price. Conversely, a meaningful price floor - must be above the market price. What impact will a meaningful price ceiling have on the quantity exchanged
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