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1. How rich are the rich? Wealth statistics on the very rich are compiled every year by Forbes magazine. Answer the following questions:
a. Carefully define wealth, differentiating it from income. Which of these two are more unequally distributed in the US? Why?
b. Find out who are the richest in the US and world at Forbes.com: https://www.forbes.com/i. Choose lists, then "400 Richest Americans."ii. Select ten individuals for study at random.iii. List and explain your 10 individuals and explain how much wealth they each own. (Make certain that your units are correct.) How did they achieve this wealth?
c. Based on your sample, explain what percentage of individuals gained this wealth through inheritance and what percentage through entrepreneurship.
Design a simple econometric research project
Multiplicative decomposition method
The Australian government administers two programs that affect the market for cigarettes.
Solve the forecast model
What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).
Explain why this model violates the assumption of no perfect collinearity. Write the t statistic for testing the null hypothesis
What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type
Determine when a competitively produced product generates negative externalities in production, the industry will,
Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.
M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.
Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:
Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.
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