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The Australian government administers two programs that affect the market for cigarettes. First, media campaigns and labelling needs aimed at making public aware of the dangers of cigarette smoking. Second, there is a tax on cigarettes.
Suppose that work hours in New Zombie are 300 in year 1 and productivity is $14 per hour worked. What is New Zombie's real GDP If work hours increase to 320 in year 2 and productivity rises to $16 per hour, what is New Zombie's rate of economic growt..
calculate the exact elasticity of demand in the following examples: Then tell if, in each case, demand is elastic, inelastic, or unitary elastic. (a) When the price of a deluxe car wash rises from $10.00 to $11.00, the number of daily customers fa..
One of their new MBA financial wizards has estimated the following relationship for gold sales in the past year of trading (250 observations): Q = 4,000 - 0.01P + 1.5I - 1.25X + 2.0S R2 = .96 (857) (0.002) (0.65) (0.44) (0.48) where Q = daily sale..
Industry A is composed of five large firms and 100 small firms. The market shares of the five largest firms are, respectively, 30, 25, 20, 15, and 10. The 100 small firms together have the remaining market share. Calculate the Herfindahl-Hirshman ..
Your cousin has just bought a used car for $6000.He is to pay for it as follows.A $2,000 down payment and 24 end of month payments of $177.28.What nominal annual interest rate is being paid What is the actual interest rate
How much money was deposited each year for 10 years if the account is now worth $500,000 and the last deposit was made 8 years ago Assume the account earned interest at 8% per year.
1. What was the growth rate of nominal GDP between 1999 and 2009 2. What was the growth rate of the GDP deflator from 1999 to 2009 3. What was real GDP in 1999 measured in 2005 prices
The U.S. mint, which produced billions of coins each year, has a mean defect rate of 5.2 coins per day. Let X be the number of defective coins produced on a given day. What is the probability of exactly 5 defective coins on a given day
You have a credit card balance of $15,000 which you plan to repayin 4 monthly payments. You plan to use the following repaymentschedule: Month 1 pay interest due Month 2 pay interest due + one-half the original balance
Liz Taylor bought some farming lands for $100,000 five years ago. She sold the property this year for $500,000. If the annual inflation rate for the past 5 years has been at 6%, compute the after-tax real interest rate for this investment.
Suppose a monopolist faces the following demand curve P = 596 - 6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. a) What is the monopolist's profit maximizing level of output
the daughter of a women with the income in the bottom third of the income distribution will herself have a 60% chance of being in the bottom third, a 25% chance of being in the middle third, and a 15% chance of being in the top third. Income Group..
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