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Cornell University conducted a study of wage differentials between men and women reported that one reason that men's wages are higher is that men tend to have more years of work experience than women. The following results were obtained in the study:
Men Women
n 100 85
mean experience 14.9 10.3
σ 5.2 3.8
Test the assumption that the average work experience of men is greater than that of the women at the 5% significance level. Show all steps.
Suppose that between January 2011 and January 2012 the total number of people employed and the unemployment rate both fell. Briefly explain how this is possible. [2 marks]
THE PRODUCT MARKET Z=C+I+G C=a+bYd I=Io+I1Y-I2i Equilibrium condition, Y=Z, where Y represents output and Z is aggregate spending. THE FINANCIAL MARKET Md=MT+Mp MT=MTo+MT1Y Mp=Mpo
Lucas’ point of view, what are the limitations of the Keynesian model? What improvements does he suggest?
how does government regulate externalies
Q. Describe Market interest rates? The most significant interest rates from a macroeconomic perspective are interest rates that government pays on the loans they use to finance
what is valuing flexibility
how can a country maintain equilibrium GDP with foreign trade?
Marginal Propensity to consume or known as (MPC) relates to a change in net or total consumption expenditure to a change in the total disposable income. Symbolically it is writt
Assume a sudden collapse in the stock exchange of an economy is expected to reduce the future profitability of the firms of the economy. Construct loanable funds market in a c
1. Suppose the demand for a product is given by QD = 2000 - 25P. a) Calculate the Price Elasticity of Demand when the price is $30. b) What price should the firm charge if it
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