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Who is hurt and who benefits from each of the two types of inflation? What is the impact that inflation has on our income? List and describe two examples of when inflation may be understated as a result of how the CPI is measured.
To what extent would increased government involvement with regard to fuel efficiency affect the behavior of manufacturers · To what extent would increased government involvement with regard to safety affect the behavior of manufacturer · ..
Write out the formulas for the bias, variance and mean squared error of β 1 . How do the bias, variance and mean squared error depend on the values of µ , σ 2 and n ?
What money supply should the Fed set next year if it wants to keep the price level stable and what is the price level? What is the velocity of money?
If the demand schedule for Bong's book is Q = 2000-100p, the cost of having the book typeset is $9000, and the marginal cost of printing an extra book is $4, then how he would maximize his profits.
Consider the following game: There are 5 pirates on a boat, conveniently named P1, P2 P3, P4 and P5. These 5 pirates have just dug up a long lost treasure of 100 gold pieces. They now need to split the gold amongst themselves, and they agree to do..
If GDP is rising by 3 percent per year how long will it take GDP to double? Given the same conditions how long will it take Per Capita GDP to double if the population grows at 2 percent?
Would the accumulation of historical prices and quantities exchanged in the market establish a long-run supply curve? How would the historical relationship differ from how firms (and economists) envision today's long-run supply in the industry?
The Microsoft antitrust trial (United States vs. Microsoft) has been one of the biggest investigations of antitrust behavior since the turn of the century. You are supporting the Government, research and present a cohesive argument to the other si..
The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. If it decreases the price ..
Show the impact on the equilibrium price and quantity that results from; (1) an increase in demand and (2) an increase in supply.
Why were the members of OPEC trying to agree to cut production? Why do you suppose OPEC was unable to agree on cutting production? Why did the oil market go into 'turmoil' as a result?
Select a product you have purchased in the past month from a clothing or shoe store. Explain how each of the four factors contributed to the elasticity of the good.
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