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There are 20 families living in the Willbrook Farms Development. Of these families, 10 pre- pared their own federal income taxes for last year, 7 had their taxes prepared by a local professional, and the remaining 3 by H&R Block.
a. What is the probability of selecting a family that prepared their own taxes?
b. What is the probability of selecting two families, both of which prepared their own taxes?
c. What is the probability of selecting three families, all of which prepared their own taxes?
d. What is the probability of selecting two families, neither of which had their taxes pre- pared by H&R Block?
The Western Capital Growth mutual fund has, What is the fund's net asset value (NAV)?
Assume that the consumption schedule for a private open economy is such that consumption C = 20 + 0.75Y. Assume further that planned investment (Ig) and net exports (Xn) are independent of the level of real GDP and constant at Ig = 40, G =20 and Xn =..
Describe the effects of decrease in the population growth rate on the golden rule quantity of capital per worker and on the golden rule savings rate.
Explain how "history" affects ability of firms in this game to achieve an outcome superior to that of one-shot version of game.
Suppose the U.S. president is attempting to decide whether the federal government should spend more on research to find a cure for lung cancer. He asks you, one of his economic advisors, to prepare a report discussing the relevant factors he should c..
If expectations are adaptive it means that the expected rate of inflation
Empirical evidence suggests that most of the male-female wage differential is due to:
Elucidate is it good for the economy to have more competitive markets.
Why are entrepreneurs willing to supply goods and services for consumers at attractive prices? Is it because they care personally about the consumers?
You are the owner of a local Honda dealership. Unlike other dealerships in the area, you take pride in your “No Haggle” sales policy. Last year, your dealership earned record profits of $1.3 million. What price should you charge for a midsized automo..
Acme Container Corporation produces egg cartons that are sold to egg distributors. Acme has estimated this production function for its egg carton division: q = 24L0.5K0.5 such that MPL = 12K0.5L-0.5 and MPK = 12L0.5K-0.5. Acme currently pays a wage o..
Which of the following pairs illustrates the two extreme examples of market structures? Why?
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