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A child protective service (CPS) worker is calculating the average for the number of children per family in her caseload (N=30). The mean was 95 and the variance was 25. What was the standard deviation?
There are 2.4 billion people in “severe” poverty with less than $2 of income per day. (a) What is the maximum combined income of this “severely” poor population? (b) What percentage of the world’s total income (roughly $75 trillion) does this represe..
1. Suppose the demand for sunscreen (X) has been estimated to be ln Qx = 5 - 1.7 ln Px + 3 ln S - 3 ln Ay, where S denotes the average hours of sunshine per day and Ay represents the level of advertising for good Y. a. What would be the impact on ..
The short-run aggregate supply curve (SRAS) slopes
Draw her indifference curves between hours of leisure and consumption, her budget line and her equilibrium choice of c and l. What is the slope of the budget line and what are the intercepts.
Two bridge designs have been proposed for the new interstate highway to cross Rio de Lubbock. A bridge constructed from wood will cost $6,000 and will last for eight years. A bridge constructed from steel will cost $11,000 and will last for twenty ye..
Consider a market whose supply and demand curves are given by P = 4Q ^S and P = 12 - 2Q^D. Calculate the equilibrium price and quantity (P* and Q*) assuming the market is unregulated. What is the total surplus at the equilibrium? Calculate the price ..
Consider the market for laptop computers. The demand for laptops is Q = 1800 – 3P. Suppose the supply of laptops is given by Q = –200 +2P. What is the equilibrium price of laptops? What is the equilibrium quantity of laptops? What is the price elasti..
Describe the industry and explain the general pattern of change of the particular market model.
Which of the following would you expect to decrease both interest rates and exchange rates?
Consider a country in which Y = 200 K2/5N 3/5. Assume in this country they save 20% of their income, population grows at 3% per year, and depreciation of capital occurs at 10% per year. Use the Solow model. Compare the effectiveness of i) a 50% incre..
1) Suppose the following equations represent a supply and demand model for bubble tea. Qs = 100 + 30P - 10T
Kath has $80 (income M) to spend on pizza (good 1x) and coke (good 2x). The price of a slice of pizza is $4 and the price of a can of coke is $1. Formulate the intercept-slope equation of Kath’s budget line. Assume that, other things being equal, piz..
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