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Inflation (RPI) - another imperative channel. Oil is a necessity for the UK, and is price inelastic therefore one can analyse the correlation between a price shock and inflation. It is to be expected that an increase in the price of oil would lead to increased inflation, which would then impose pressures onto GDP. Thus it is of vital importance to observe the relationship between oil and inflation. The data is given as the quarterly rate of change from the previous 12 months.
A local movie theater wants to know how much popcorn they should stock for a given movie showing. Records from 94 movies reveal a mean of 57 boxes and a standard deviation of 17.8.
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Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations. The price of input A decreases.
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In principle, outsourcing makes things a little inexpensive and enhance profitability. Though, some things require to be done 'in house'. For example, some employers (largely) outs
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