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The time between arrivals in an airport is exponentially distributed with a mean of 25 minutes.
(a) What is the probability of no arrivals for more than one hour?
(b) What is the probability of an arrival within 10 minutes?
The Fed’s decided to maintain its low interest-rate target in the face of a rightward shift of the AD curve in the late 1960s which led to an inflationary equilibrium. Discuss the long-run and short-run costs and benefits of the Fed are other two opt..
Third National Bank has reserves of $20,000 and checkable deposits of $100,000. The reserve ratio is 20%. Households deposit $10,000 in currency into a checking account at the bank and that currency is added to reserves. What level of excess reserves..
A circular flow diagram that includes the government sector. For this part of your paper, you should include a description of the roles that each participant plays in the economy and how the different sectors interact in the markets.
1. gary and diane must prepare a presentation. as part of their presentation they must do a series of calculations and
The graph shows a typical competitive market in equilibrium. Private costs and benefits are reflected in the supply and demand curves labeled D and S, respectively. The price is $50 and 40 units are sold each period. To illustrate the effects of an e..
If 50 applicants are chosen at random, what is the probability that 17 or more of them will meet the GPA threshold? (Note: You’ll want to use your answer from part a. If you’re not sure about this answer (and even if you are), be very clear about yo..
There are 100 dog kennels in Atlanta. An economist studying the pricing behavior of dog kennels tells you that she is limiting her analysis to a time period that does not allow for any new dog kennels to enter the industry or for any established d..
what according to the mainstream theory of the business cycle is the most common source of recession a decrease in
the oil price schok of 1980 sent gasoline prices sharply higher. Coal prices moved in sympathy with oil prices, with the result, that coal companiesearned pure economic profits. Since coal is homogenous good and the market is competitive , what ha..
Explain how a firm values the contribution of workers to its profitability. Would a profit-maximizing competitive firm ever stop increasing employment as long as marginal product is rising?
the 2010 deep water horizon oil spill in the gulf of mexico caused a huge increase in the number of workers hired to
The text presents the target rate of unemployment as being about 5 percent. William Vickrey, a Noble Prize winning economist, argued that the target unemployments rate should be seen as being between 1 percent and 2 percent.
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