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Starting salaries of economics majors have a mean of $47,000/year with a standard deviation of $8,000. What is the probability that a random sample of 100 majors will have an average salary of more than $50,000 year?
THe production function is y= a * Ka * L1-a, If a= 0.3, and over the past year total factor productivity grew 2.3 percent, capital grew 2 percent, and labor grew 3 percent, what was the growth rate of output?
The Dade Corporation is borrowing $300,000 for one year and paying $27,000 in interest to Miami National Bank. The Bank Requires a 20% compensating balance.
Quinton needs a new refrigerator. He has two choices a basic one, or a more efficient one from Energy Star. He earns 4% compounded annually on his investments, he wants to consider a 10-year planning horizon, and he will use present worth analysis to..
Assume you received a four percent increase in your nominal salary.
Why do you think that economists interpret the high price elasticity of demand for marijuana by regular users to be consistent with the fact that 90 percent of user’s do not become habitual users of the drug?
Since all economies are faced with scarcity, how might nations attempt to minimize the human hardship associated with scarcity Try to use concepts seen in this unit such as production possibilities frontier, comparative advantage, circular flow, e..
Discuss the statistical significance of the parameter estimates a, b, c, and d using the p- values. Are the signs of b, c, and d consistent with the theory of demand.
In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?
In Bayonne, New Jersey, there is a large beauty salon and a number of smaller ones. The total demand function for hair styling per day is Q=180-10P, where P is in dollars.
Compute the total cost of providing this insured service to the plan before and after the change in coverage.
A geomatics engineer wants to purchased a highly accurate GPS surveying system. The unit costs $36,000, has a useful life of 5 1/2 years, and can be sold at the end of its life for $3,000. In addition, a maintenance and supplies payment of $1500 w..
Imagine two naton , Glacierland, and Swampland. Glacierland is producing everything at a lower absolute cost than Swampland. If the two countries trade what is the reason.
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