=1.62 | 100/158.56*(1.99)=1.26 | 0.87 | 100/208.98*(2..52)=1.21 | b. Has the real price increased/decreased/stayed the same since 1980? The real price has decreased since 1980 till 1995‚ it increased a little in 2000 but it is still less than 1980. So the real price has decreased since 1980. c. What is the percentage change in the real price (1980 dollars) from 1980 to 2000? (1.21-1.88)/1.88 = -35.64% 2. Suppose the demand curve for a product is given by Q
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nature. 2. Which of the following is most clearly consistent with the basic guidepost of economics regarding the reaction of people to a change in incentives? a. Farmers produce fewer bushels of wheat in response to an increase in the price of wheat. b. People will buy more milk at a price of $2 per gallon than at $1 per gallon. c. People will buy less gas if the price of gas increases by $.20 per gallon. d. People will consume more beef if the price increases from $1 to $2 per pound.
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caused by an omitted variable will have possible specification bias. Impure heteroskedasticity causes bias in the coefficient and the variance of error is no longer minimum variance and no longer efficient. The variances of OLS estimators are biased. 2) Find any examples of heteroskedasticity in a time series‚ and explain why the heteroskedasticity exits. Answer: -Heteroskedasticity can occur in time series models with a significant amount of change in the dependent variable. For example‚ DVD player
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because of improvements in communications and transportation | | | | | | Feedback: Trade has increased for two important reasons— a worldwide reduction in tariffs and the advent of new technologies in communications and transportation. | | 2 CORRECT | | A tariff: | | | A) | raises the price of imported goods‚ increasing the demand for domestic substitutes | | | B) | lowers the cost of producing domestic goods | | | C) | offsets the effect of a quota | | | D) | raises the
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employed+unemployed+not in the labor force=237329000 b. the labor force = employed+unemployed=154715000 c. the labor-force participation rate = (labor force/adult population) x 100= 65.2% d. the unemployment rate = (unemployed/labor force) x 100= 9.9% 2. Go to the website of the Bureau of Labor Statistics (http://www.bls.gov). What is the national unemployment rate right now? Find the unemployment rate for the demographic group that best fits a description of you (for example‚ based on age‚ sex‚ and
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What is Elasticity? - Elasticity refers to the degree of responsiveness in supply or demand in relation to changes in price. If a curve is more elastic‚ then small changes in price will cause large changes in quantity consumed. If a curve is less elastic‚ then it will take large changes in price to effect a change in quantity consumed. Graphically‚ elasticity can be represented by the appearance of the supply or demand curve. A more elastic curve will be horizontal‚ and a less elastic curve will
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Ethical Health Care Issues Sheri Anderson HCS/545-Health Law and Ethics September 22‚ 2014 Kenneth Pincus Ethical Health Care Issues Healthcare ethics involves making well researched and considerate decisions about medical treatments‚ while taking into consideration a patient’s beliefs and wishes regarding all aspects of their health. The healthcare industry‚ above any other‚ has a high regard for the issues surrounding the welfare of their patients. This power over a patient’s wellbeing
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to B; B to C; and C to D. CHOICE OIL / barrels WHEAT / bushels A 5000 0 B 4500 10000 C 2500 20000 D 0 25000 a.) b.) A to B:500 Oil Barrels B to C: 2‚000 Oil Barrels C to D: 2‚500 Oil Barrels 2. In the space provided you are to do a number of things: a. Draw and properly label a demand and supply curve. b. Indicate where the equilibrium Price and Quantities are located. c. How do things change based on the following scenario? The market
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Part A: Long-term debt can generally be classified into three different categories: bonds payable‚ notes payable‚ and capital leases. Bonds payable can be secured by collateral‚ such as a mortgage bond‚ or unsecured‚ backed only by a company’s promise to pay. Most bonds carry a stated rate of interest but others are sold at a discount with an implied rate of interest inherent in the discounted sale. Some bonds can be converted into other securities. Other bonds can be called in by the corporation
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Lee Corporation Equity Scenario • Review the following information: Lee Corporation‚ a U.S. company‚ began operations on January 1‚ 2004. During its first 3 years of operations‚ Lee reported net income and declared dividends as follows. Net income Dividends declared 2004 $ 40‚000 $ –0– 2005 125‚000
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