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The research department at the home office of New Hampshire Insurance conducts on- going research on the causes of automobile accidents, the characteristics of the drivers, and so on. A random sample of 400 policies written on single persons revealed 120 had at least one accident in the previous three-year period. Similarly, a sample of 600 poli- cies written on married persons revealed that 150 had been in at least one accident. At the .05 significance level, is there a significant difference in the proportions of single and married persons having an accident during a three-year period? Determine the p-value.
Monetarists are often characterized as ‘noninterventionists’ while modern Keynesians are characterized as ‘interventionists’. Why do Monetarists argue against intervention? What are the afraid of? Why do modern Keynesians argue in favor of interventi..
Specific assets can create problems for a company. If a supplier invests in new machinery to deliver a part useful only to its biggest and best customers, it can find itself with:
Consider the combined Solow-Romer model (i.e., there are both capital and idea stocks) that we worked through. Suppose the economy begins on a balanced growth path in the year 2000. Then in 2030, the depreciation rate ¯d rises permanently to a higher..
Geopolitical and cultural conflicts in South Asia increasingly command the attention of the world. Tensions between India and Pakistan
Suppose that new government spending increases lifespans. In our model what should be the effect of this on hours worked per person in a given time period? Does it matter whether government spending adds extra years to the lifespan of living adults w..
Revisit the relationship between the slope and the concept of elasticity. What is the impact of “time” on elasticity values and applications? What would happen to the demand for luxuries and necessities if wealth were to be redistributed from the wea..
What influence did the elements of the Juran Trilogy have, if any, on the company's quality training curriculum? If the company does not have a quality curriculum, why do you believe, based on your research, it adopted the Juran Trilogy but did not m..
The marginal cost of a monopolist is given by MC (q ) = 2 + 2q while market demand is. What is the competitive market equilibrium? Find social cost of monopoly. What is the prot-maximizing level of output and price?
What phenomena is causing such large desparities in the long run living standards between the two places in regards to compound growth rate?
A certain production process employs two inputs labor (L) and raw materials (R). Output (Q) is a function of these two inputs and is given by the following relationship: Determine the total product function (TPL) for input L. Determine the marginal p..
What will be the future worth of a series of 15 annual $1500 payments if the nominal annual interest rate is 7% and the interest is compounded quarterly?
Vaccinating people against a communicable disease such as influenza not only reduces the chances that the person vaccinated will catch the disease but also reduces the probability that an epidemic of the disease will occur. Which of the following ..
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