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The Wall Street Journal reported that a travel study conducted in 2011 found that 28% of baby boomers (those born between 1946 and 1964) took a cruise vacation within the last three years. A random sample of 100 baby boomers was selected. What is the probability that 32 or fewer of these individuals took a cruise within the last three years?
Because it acts like a price, U.S. export demand is inversely related to the U.S. real exchange rate. U.S. import demand is inversely related to the real exchange rate of foreign trading partners, which would just be the inverse of the U. S. real exc..
How does our current economic growth rate compare to some of the other major countries around the world? Explain the relationship between unemployment and gross national product (GNP).
Suppose John’s preference between goods A and B is represented by a utility function u(xA, xB) = xAxB, where xA, xB are amounts of A, B consumed. Draw qualitatively the indifference of John that has the same level of utility as 40 units of A and 5 un..
How can we slove as detailed work in managerial economics subject chapter 4 and 5
Below draw an AD/AS graph and a money market graph side-by-side. For the money market, use an upward sloping money supply curve and assume that the equilibrium interest rate in the money market is 5%. Is this rule based policy pro-cyclical or counter..
Calculate Pete's marginal and average cost schedules. What are Pete's profit-maximizing output and price? What is Pete's economic profit? Explain your answer.
There are 3 firms producing mercury emissions, with heterogeneous marginal abatement costs: Suppose the EPA adopts a command-and-control regulation permitting each firm to emit just 20 tons per year. i) Calculate the cost of compliance for each of th..
What are some of the problems with using the unemployment rate as an accurate measure of overall joblessness?
Rosco has a utility function over money = log(I) where log is base 10 and I is money. His initial income (I) is $1000. Suppose he must accept one of three bets: Graph each of these of a utility-of-income graph with income on the horizontal and utilit..
MICRO: Consumer Theory: Against the background of an increase in the tax rate imposed on wage income, explain how the concepts of income and substitution effects may be used to analyse the labour supply response of an: Individual who is already worki..
Different economies grow at different rates. Three countries that have done very well over the last three decades are China, India, and Ireland. Both China and India are huge while Ireland is relatively small. Why have these economies grown so quickl..
Discuss how changes in household disposable income, housing and stock wealth, and debt-generated movements along and shifts in the U.S. saving function. Explain these effects, assuming other things were equal.
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