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1. What is a naive forecast of inflation?
2. How do we know that the Phillips curve does not help in forecasting inflation?
How many hours per day will she choose to work?
Investigate the history of slavery and discuss the ways in which this history impacts contemporary society
Suppose that five bidders with values of $500, $400, $300, $200, and $100 attend an oral auction. Which of these is closest to the winning price?
(Rationale for Rules) Some economists call for predetermined rules to guide the actions of government policy makers. What are two rationales that have been given for such rules?
You have just purchased a new Ford Taurus for $20,000, but the most you could get for it if you sold it privately is $15,000. Now you learn that Toyota is offering its Camry, which normally sells for $25,000, at a special sale price of $20,000.
What is the number of voters at which voting no longer becomes worthwhile?
A monopolist operates in an industry where the demand curve is given by Q = 1000 - 20P. The monopolist's constant marginal cost is $8. What is the monopolist's profit-maximizing price?
Why does the budget require a forecast of the economy? Under what circumstances would actual government spending and tax revenue fail to match the budget as approved?
Suppose that annual output in year 1 in a 3-good economy is 3 quarts of ice cream, 1 bottle of shampoo, and 3 jars of peanut butter. In year 2, the output mix changes to 5 quarts of ice cream, 2 bottles of shampoo, and 2 jars of peanut butter.
Find the expected value of X, find the variance of X and what is the conditional distribution of Y given that X=3?
In auditing intangible assets, an auditor most likely would review or recompute amortization and determine whether the amortization period is reasonable in support of management's financial statement assertion of:
The inverse-market demand curve for DRAM chips is P = 50 - Q, where Q is the total industry output and P is the market price. The marginal cost of producing DRAM's is $15. There are no fixed costs associated with producing the chips.
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