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Suppose you are dealt two cards from a standard deck of playing cards. a) What is the probability of being dealt a pair of aces? b) There are 13 possible pairs possible (Aces through Kings). What is the probability of being dealt a pair of any type (That is, the probability of a pair of Aces OR 2s OR 3s, etc.)? c) What is the probability of being dealt two cards of the same suit? d) What is the probability of being dealt any two cards greater than a 10? This includes Jacks, Queens, Kings, and Aces.
WHAT ARE THE TYPES OF PROTECTIONISM IN INTERNATIONAL TRADE
Interest rate determination The real interest rate r will be equal to the equilibrium real interest rate In the classical model we define equil
Q. Show the components of GDP? The circular flow - simple version We have defined GDP, gross domestic product, as the market value of all finished service and goods produced
A government can finance its budget deficit by doing all of the following except: A. borrowing from its central bank. B. printing money. C. selling bonds. D. buying bonds.
Classical Quantity Theories Quantity theories have had a long history and a widespread use in economics. As originally formulated these were not explicitly designed as theories
what is valuing flexibility
Suppose that Michael and Dwight each have a $60 weekly entertainment budget. They pay the same prices for two goods, "an evening reading books" (an ERB) and "an evening of beer and
Fiscal Policy An Increase in Government Spending: Figure 1 Let us examine how an increase in government spending affects the interest rate and the level of income.
Money is anything which is acceptable in settlement of a debt. But, paradoxically, the main asset used to settle debts in modern economies is other debts. After all, bank deposits
Do you agee or disagree " Economic theory helps society reach economic goals that it has selected for itself?" Justify your answer.
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