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After the Romans gained their independence early in their history, what was their view on governmental power?
a. They believed the only way to maintain order was to give absolute power to one man.
b. They believed power should only be held by the commoners in this republic.
c. They believed power should be held by a group of men over the age of 60.
d. They believed that power should be divided between as many men as possible.
A volunteer ambulance service handles 0 to 5 service calls on any given day. The probability distribution for the number of service calls is shown below. NUMBER OF SERVICE CALLS PROBABILITY 0 .10 1 .15 2 .30 3 .20 4 .15 5 .10 What is the expected val..
Suppose the government cuts income taxes. Show the IS/LM model the impact of the tax cut under two assumptions. (1) Government keeps interest rates constant through an accommodating monetary policy. (2) The money stock remains unchanged. Explain the ..
Not long ago an employee came into my office asking for a wage increase. I responded by asking what increase in productivity the employee brought to the University in order to merit such an increase.
Estimate the regression coefficients using ordinary least squares also interpret them. Predict the weekly sales for a store with 10 feet of shelf space situated at the back of the aisle.
If the company requires a minimum return of 25%, illustrate what should be the minimum yrly sales for 12 yrs to justify the investment.
Why might variations in the dollar's value in terms of other currencies cause the trade deficit to move independently from the changes in the government budget deficit.
Define the terms “globalization,” “comparative advantage,” and “outsourcing.” Discuss how globalization and the economic concept of comparative advantage relate to the practice of outsourcing.
Marketing suggests lowering PT from $20000 to $15000. The size of the elasticity coefficient in #1 should tell you what is likely to happen to revenue. Explain why this is (or is not) a good marketing suggestion from a revenue viewpoint. If the impli..
Sandy is planning her consumption over five periods during which she expects her income to be 4, 10, 16, 12 and 8. What is Sandy's permanent income? What is Sandy's marginal propensity to consume out of a temporary increase that boosts first period i..
The U.S. economy experienced large trade deficits in the 1980s and 1990s and tremendous economic growth in the mid- and late-1990s.... Explain verbally the relationship between investment and long-term economic growth and describe the relationship gr..
Describe the two things that limit the precision of the Fed's control of the money supply and explain how each limits that control. Why do Federal Reserve Board of Governors have long (14 year) terms? Name three actions the Fed can take to increase t..
Explain using the money market graph, what happens when (1) the price level (CPI) goes up, (2) when the discount rate is lowered and (3) when the Fed sells more bonds on the market. What will happen to the equilibrium interest rate in each case.
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