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1. You are lost on the Mythy Island in the summer, when tourists are two-thirds of the population. If you ask a tourist for direction the answer is correct with probability ¾; answers to repeated questions are independent even if the question is the same. If you ask a local for directions, the answer is always false.
a. You ask a passer-by whether Mythy City is East or West. The answer is East. What is the probability that it is correct?
b. You ask her again, and get the same reply. What is the probability that it is correct?
c. You ask her one more time, and the answer is East again. What is the probability that it is correct?
How global imbalances could impose a constraint of future global growth?
q.consider total cost and total revenue given in the table belowquantity 0 1 2 3 4 5 6 7total cost 8 9 10 11 13 19 27
He connected it to the USB port on his computer running Windows 7 Professional and turned on the printer, but the printer does not appear in the Devices.
The CEO of General Motors is worried that members of the GM's strategic planning committee are unfamiliar with basic economic principles.
How does the health of the economy affect your financial health? How healthy is the U.S. economy right now? On what measures do you base your judgments? How will your appreciation of the big picture help you in planning for your future?
How much in dividends were paid to shareholders during the year? Assume that all dividends declared were actually paid.
Firm Supply Curve. Calculate the average cost and marginal cost. From the firm profit maximization behavior, solve the firm’s short run supply curve.
Why innovation so important for firms to compete in many industries? What are some of the advantages of technological innovation? Disadvantages? Why do you think so many innovation projects fail to generate an economic return?
In the Solow growth model, what happens in the steady state if total factor productivity declines?
What are the advantages and disadvantages of free trade for the United States? Be specific in giving examples of how free trade and off-shore manufacturing helps and/or hurts businesses, workers and consumers in the United States.
During the most recent recession—the so-called Great Recession—the United States government increased the amount of time an individual was eligible for unemployment benefits from a maximum of 26 weeks to a maximum of 99 weeks. How is this likely to c..
Consider the following bet: A 50% chance of winning $0, a 40% chance of winning $10, and a 10% chance of winning $100. What is the expected value of this bet? What is the variance of the bet? If a ticket for this bet cost $15, would a risk averse per..
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