Week 1 (6) Introduction Chapters 1‚ 2. Problem set 1.1 a. Give a definition of the process of (economic) globalization. b. For many people‚ however‚ the globalization process is more than just economic globalization‚ and the advantages and/or disadvantages of globalization are spread over a much wider area than just international economics. Give a few examples. 1.2 a. How can globalization and international economic integration be measured (3 indicators)? b. Use the three
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Week 4 Homework Solutions: Problem Set 4 1. Determining Profit or Loss from an Investment. Three years ago‚ you purchased 150 shares of IBM stock for $88 a share. Today‚ you sold your IBM stock for $103 a share. For this problem‚ ignore commissions that would be charged to buy and sell your IBM shares. a. What is the amount of profit you earned on each share of IBM stock? The profit on each share of IBM stock was $15. $103 priced when each share was sold‚ $88 priced when each
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Economics 500 – Problem Set #3 Consider a firm producing an output Q using the two inputs “labor” (L) and “capital” (K) according to the production function Q = K.5L.5 (i.e.‚ the amount of output produced Q is equal to the square root of K times the square root of L). Suppose that the firm is in a short-run situation in which K is fixed at one unit (K = 1) but labor is variable. Suppose that the user cost of capital‚ r‚ is $48 for each unit of K and that the wage rate‚ w‚ the cost of one unit
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1 10/10/01 Fermat’s Little Theorem From the Multinomial Theorem Thomas J. Osler (osler@rowan.edu) Rowan University‚ Glassboro‚ NJ 08028 Fermat’s Little Theorem [1] states that n p −1 − 1 is divisible by p whenever p is prime and n is an integer not divisible by p. This theorem is used in many of the simpler tests for primality. The so-called multinomial theorem (described in [2]) gives the expansion of a multinomial to an integer power p > 0‚ (a1 + a2 + ⋅⋅⋅ + an ) p = p k1 k2 kn a1 a2
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Fermat’s last theorem Currently holding the world record for longest standing math problem ever‚ Fermat’s last theorem went unsolved for 365 years. Fermat’s last theorem was one of the largest white whales in the study of math. Over the centuries‚ thousands were puzzled by the impossible problem. From its conception to its solution‚ Fermat’s last theorem was one of the most difficult to solve yet easy to understand problems in mathematics. First‚ I will discuss the theorem and how it was introduced
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Answer No. 1 Production possibility curve is a particular form of curve‚ which shows the possibility of production in a particular economy (Gwartney‚ Stroup‚ Sobel‚ Macpherson p.28). In an economy‚ the resources are scarce‚ therefore‚ it is important for the economy to make sure that‚ it keeps a balance between the productions and utilizes its resources appropriately. If the production possibility curve of an economy will move outwards then‚ the long run supply curve will have a positive change
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Problem Set 1 Complete all questions listed below. Clearly label your answers. 1. The receipts and year of release of the five movies with the largest nominal box office revenues‚ along with the CPI data of each year are presented below. Assuming that the receipts for each of the movies were derived during their year of release‚ convert the receipts for each to real dollars for the year 2010 (2010 CPI 218.1). Put the movies in order from largest to smallest real box office receipts. Movies
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Self-Confidence December 31‚ 02:50 Definition • Self-confidence is characterized by: assertiveness‚ optimism‚ eagerness‚ affection‚ pride‚ independence‚ trust‚ the ability to handle criticism‚ emotional maturity‚ and the ability to accurately assess our capabilities. • What is Self-Confidence? – Self-confidence primarily refers to us having a positive and realistic perception of ourselves and our abilities. – A lack of self-confidence‚ on the other hand‚ is characterized by: self- doubt‚ passivity
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Problem Set 3 Name Problem Set 3 is to be completed by 11:59 p.m. (ET) on Monday of Module/Week 6. 1. Data for the market for graham crackers is shown below. Calculate the elasticity of demand between the following prices. Price of crackers Quantity Demanded (per month) $3 80 $2.5 120 $2 160 $1.5 200 $1 240 $1.00 - $1.50: ___$-0.45________________________________ $1.50 - $2.00: ____$_-0.77______________________________ $2.00 - $2.50: _____$_-1.28_____________________________ $2.50 - $3.00: ____$_-2
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Fermat’s Last Theorem Fermat’s Last Theorem states that no three positive integers‚ for example (x‚y‚z)‚ can satisfy the equation x^n+y^n=z^n if the integer value of n is greater than 2. Fermat’s Last Theorem is an example a Diophantine
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