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Consider a scoring rule in which the preferred option is given one point and all others none.
a. Show that this need not select the Condorcet winner.
b. Demonstrate the scope for false voting.
Big State U charges in-state and out-of-state student's different tuition rates. In-state students pay $2,000 a term and respond according to the following demand equation: Qi = 25,000 - 3Ti Where Qi is in-state student enrollment and Ti is in-stat..
Some proponents of price-level or inflation targeting recommend that the Fed target core inflation, which is based on a price index that excludes supply shocks. What is their rationale?
Suppose the cross-price elasticity of demand between goods X and Y is -5. How much would the price of good Y have to change in order to increase the consumption of good X by 50 percent
Give two examples of circumstances in which the auditor can rely on analytical procedures and two circumstances when reliance on analytical procedures would not be advisable.
A plastic liner will cost $0.90 per square foot initially and will require replacement in 15 years when precipitated solids will have to be removed from the pond using heavy equipment. This removal will cost $500,000.
Select three macroeconomic indicators that you feel have greatest impact on operations or considering for Kohls. Discuss and describe why they are important to current or future situation of your organization.
Evren wants to go into the donut business. For $500 per month he can rent a bakery complete with all the equipment he needs to make a dozen different kinds of donuts (K = 1; r = 500). He must pay unionized donut bakers a monthly salary of $400 eac..
(Craft Unions) Both industrial unions and craft unions attempt to raise their members' wages, but each goes about it differently. Explain the difference in approaches and describe the impact these differences have on excess quantity of labor suppli..
let E1 denote his expenditure at the end of this year and E2 denote his expenditure at the end of next year. At the end of this year he will receive $100,000 in income, and at the end of next year, he will receive $105,000 in income.
What do you expect would happen to stock prices if the risk premium decreased unexpectedly? Explain in words.
what unemployment rates would we expect to see in this economy?b. Consider another economy in which the unemployment rate over the next three years is 6%, 7%, and then 4%. According to Okun's Law, what are the levels of short run output (Y tilde) ..
Enter the value of the test statistic in the box below (rounded to 2 decimal places). 0 using a t-test with a 5% significance level and enter the critical value in the box
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