Economics

4. If the test statistic is 2.54 for a two-sided z-test for the difference in tw

4. If the test statistic is 2.54 for a two-sided z-test for the difference in two means for which n1 = 13 and n2 = 17, which of the following correctly characterizes the p-value? …

4. If there are 200 million people in the U.S., 150 million people are employed,

4. If there are 200 million people in the U.S., 150 million people are employed, and 20 million people are unemployed, then the unemployment rate is a) 13.3 percent. b) 10 percent…

4. If you were responsible for a UN report about how US$3 trillion could be spen

4. If you were responsible for a UN report about how US$3 trillion could be spent to reduce urban rural inequality and protect the global environment, what would be your major rec…

4. Imagine that production function uses two capital goods, physical and human c

4. Imagine that production function uses two capital goods, physical and human capital: where Y, is the aggregate output, Kt is the aggregate physical capital stock, ht is the lev…

4. Imagine that you are asked to choose between two businesses (electric compani

4. Imagine that you are asked to choose between two businesses (electric companies) that will supply electricity to your home. One of these electric companies burns coal in a faci…

4. Impact of budget deficits The following graph shows the demand for loanable f

4. Impact of budget deficits The following graph shows the demand for loanable funds and the supply of loanable funds in the United States. At the current equilibrium, the governm…

4. In September 1995, Patrick Buchanan, a Republican candidate for U.S. presiden

4. In September 1995, Patrick Buchanan, a Republican candidate for U.S. president, proposed a 10 percent tariff on Japanese imports to the United States, a 20 percent tariff on Ch…

4. In a town of 120,000 potential “football fans,” the football team draws the f

4. In a town of 120,000 potential “football fans,” the football team draws the following attendees per game, at the various prices shown: P Q (in thousands) Q (male) (1’000s) Q (f…

4. In a two-person, two-good exchange economy with strictly increasing utility f

4. In a two-person, two-good exchange economy with strictly increasing utility functions, it is easy to see that an allocation x = (x11 , x21 , x12, x 22 ) is Pareto efficient if …

4. In each case, state whether you believe the demand for the product is relativ

4. In each case, state whether you believe the demand for the product is relatively elastic or relatively inelastic? Then, provide reasons for your conclusion. a. A company buying…

4. In some ways monitoring is easier in a partnership than a corporation, where

4. In some ways monitoring is easier in a partnership than a corporation, where shareholders monitor directors. In what ways is monitoring easier? In what ways is it not? 11. A fr…

4. In the De Vany et al. proposal for property rights in spectrum, they note one

4. In the De Vany et al. proposal for property rights in spectrum, they note one area of potential conflict which is unique to Spectrum as a resource: intermodulation interference…

4. In the article by Correll, Benard And Paik, \"Getting a Job: Is There a Mothe

4. In the article by Correll, Benard And Paik, "Getting a Job: Is There a Motherhood Penalty?" we saw evidence from laboratory and field experiments showing that mothers experienc…

4. In the economy of Cape Despair, the subsistence real wage rate is $15 an hour

4. In the economy of Cape Despair, the subsistence real wage rate is $15 an hour. Whenever real GDP per hour rises above $15, the population grows, and whenever real GDP per hour …

4. In the economy of Cape Despair, the subsistence real wage rate is $15 an hour

4. In the economy of Cape Despair, the subsistence real wage rate is $15 an hour. Whenever real GDP per hour rises above $15, the population grows, and whenever real GDP per hour …

4. In the market for designer blue jeans, indicate whether each of the following

4. In the market for designer blue jeans, indicate whether each of the following would result in an increase or decrease in demand, or an increase or decrease in quantity demanded…

4. In the seatbelt example, we hypothesized that the wearing of seatbelts would

4. In the seatbelt example, we hypothesized that the wearing of seatbelts would change two factors in opposite directions. Specifically, the driver deaths per car accident would d…

4. In the table below are cost and demand data for a pure monopolist. Quantity d

4. In the table below are cost and demand data for a pure monopolist. Quantity demanded Price Marginal revenue Average cost Marginal cost 0 $105.00 1 96.00 $ 96.00 $144.00 $144.00…

4. In which of the following cases would real income rise26 A. Nominal income ri

4. In which of the following cases would real income rise26 A. Nominal income rises by 8 percent, and the price level rises by 10 percent. B. Nominal income rises by 2 percent, an…

4. Indicate what would happen to both M1 and M2 (increase, decrease, no change)

4. Indicate what would happen to both M1 and M2 (increase, decrease, no change) due to each of the following events. Consider each lettered event to be independent of the others. …

4. Indicate whether the events in the left-hand column of following table will a

4. Indicate whether the events in the left-hand column of following table will affect the quantity demanded or the demand for the item specified in the middle column. Explain your…

4. Indicate whether the events in the left-hand column of following table will a

4. Indicate whether the events in the left-hand column of following table will affect the quantity demanded or the demand for the item specified in the middle column. Explain your…

4. Indifference curves and preferences Aa Aa Nick likes both chocolate and ice c

4. Indifference curves and preferences Aa Aa Nick likes both chocolate and ice cream. Assume that the "more is better" principle applies to Nick; that is, he would always prefer t…

4. Institutions are the advantages of large-scale production that reduce averag

4. Institutions are the advantages of large-scale production that reduce averag are the rules of the game that structure economic incentives. O are the framework that allows the g…

4. Institutions, policies, and economic growth Suppose it is the year 2525, and

4. Institutions, policies, and economic growth Suppose it is the year 2525, and you are considering emigrating from your home country. 2ND QUESTION OPTIONS : [MORE/LESS} FULL POIN…

4. Intuitive Question 1 (15 pts) For each scenario below, explain how the supply

4. Intuitive Question 1 (15 pts) For each scenario below, explain how the supply or demand curve would shift, and explain how the equilbrium price and quantity would change. Assum…

4. Is monopolistic competition efficient? Suppose that a firm produces polo shir

4. Is monopolistic competition efficient? Suppose that a firm produces polo shirts in a monopolistically competitive market. The following graph shows its demand curve, marginal r…

4. Is monopolistic competition efficient? Suppose that a frm produces polo shirt

4. Is monopolistic competition efficient? Suppose that a frm produces polo shirts in a monopolsicaly cometive market The folowing prph shoms s damand curve, margnal revenue (MR) c…

4. Is monopolistic tition efficient? revenue (MR) curve, marginal cost (MC) curv

4. Is monopolistic tition efficient? revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate t…

4. Jack and Theresa have utility functions m(D,n) = 100D1 +n respectively, where

4. Jack and Theresa have utility functions m(D,n) = 100D1 +n respectively, where yi is individual i's money spent on other goods and D is the number of digital TV channels, TV is …

4. Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s mach

4. Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixed input. His variable costs are comprised of the wages…

4. Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s mach

4. Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixed input. His variable costs are comprised of the wages…

4. Joe Holiday operated a business renting beach umbrellas this past summer. He

4. Joe Holiday operated a business renting beach umbrellas this past summer. He operated the concession for 3 months. Joe knew that rain was frequent along this stretch of beach, …

4. Joe\'s Tacos is considering a price decrease on the Super Taco, which current

4. Joe's Tacos is considering a price decrease on the Super Taco, which currently sells for a price of $6.00. Joe, the owner of Super Taco, has historical sales info from recent p…

4. John Stuart Mill and Paul Samuelson considered the lighthouse to be the quint

4. John Stuart Mill and Paul Samuelson considered the lighthouse to be the quintessential example of a public good because _____. a. it can be shown that the costs of building lig…

4. John has income $24 dollars that can be used to buy 6 units of good X Or 8 un

4. John has income $24 dollars that can be used to buy 6 units of good X Or 8 units Of good Y. His budget line and optimal consumption (i.e., utility maximization) point A are sho…

4. John, an antique furniture refinisher, has been so successful with his small

4. John, an antique furniture refinisher, has been so successful with his small business that he is planning to expand his shop. He is going to start enlarging his shop by purchas…

4. Just Bikes, Inc., sells tricycles, in partially-assembled and fully assembled

4. Just Bikes, Inc., sells tricycles, in partially-assembled and fully assembled forms. Parents who assemble their own tricycles benefit from the lower price of $45 per tricycle. …

4. Kermit\'s Kadiddles Ltd. sells kadiddles at a price of $8 each. Following is

4. Kermit's Kadiddles Ltd. sells kadiddles at a price of $8 each. Following is a table showing Kermit's fixed and variable production costs. UNITS OF OUTPUT PER DAY FIXED COSTS VA…

4. Key empleyment indicators from the household survey The Bureau of Labor Stats

4. Key empleyment indicators from the household survey The Bureau of Labor Statstics (BLS) adjusts the numbers from the household survey to estmste the creplayment picture for the…

4. Let us consider the following figure (Figure-1). a. Which of the following is

4. Let us consider the following figure (Figure-1). a. Which of the following is displayed by Panel (a): i. an increase in demand and an increase in quantity supplied ii. an incre…

4. Let\'s consider two smokers A and B who, following a 10% increase in the pric

4. Let's consider two smokers A and B who, following a 10% increase in the price of cigarettes, cut their smoking by 2% and 20% respectively. a) What is the price elasticity of de…

4. Links between factor markets Consider the markets for factors of production,

4. Links between factor markets Consider the markets for factors of production, such as labor and land, to produce wheat in Kansas in 1935. During this time period-known as Dust B…

4. List and briefly describe the three primary tools the Fed has to control the

4.  List and briefly describe the three primary tools the Fed has to control the money supply and how all three can specifically be used to either increase or decrease the money s…

4. List two differences between a group health insurance policy and a non-group

4. List two differences between a group health insurance policy and a non-group (individual) health insurance policy. Which type of policy tends to benefit a young, healthy indivi…

4. Management at Gordon Electronics is considering adopting a bonus system to in

4. Management at Gordon Electronics is considering adopting a bonus system to increase production. One suggestion is to pay a bonus on the highest 5 percent of production based on…

4. Many maximum problems have an associated dual minimum problem. A consumer wis

4. Many maximum problems have an associated dual minimum problem. A consumer wishes to minimize the expenditures of consuming a given bundle of two goods (x and y) that generates …

4. Marginal analysis and efficiency The following graph shows the market demand

4. Marginal analysis and efficiency The following graph shows the market demand and supply curves for camisoles that are sold in a perfectly competitive market. Use the graph inpu…

4. Marginal analysis and profit maximization Suppose Maria gives haircuts on Sat

4. Marginal analysis and profit maximization Suppose Maria gives haircuts on Saturdays to make extra money. She is the only person in town cutting hair on Saturdays and therefore …

4. Mary just graduated from DePaul. She has two job opportunities. Option A is t

4. Mary just graduated from DePaul. She has two job opportunities. Option A is to e Accountants and make $75,000 per year. Option B is to work for work for Accurat Learned Lawyers…