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A firm has a production function,q=A LaK1−a, where 0
Business Economics, Economics
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a. Suppose that, for a given year, national saving in a country (an open economy) equals 100, private consumption equals 50, and government consumption equals 20. What is the level of output in this country in this year? ...
The government is undertaking expansionary fiscal policy. Illustrate how this action affects: The AD-AS model. The Phillips curve model. The IS-LM model. How will this change impact on economic activity the price level t ...
Has a recent drop in airplane passengers resulted in better on time performance? Before the recent downturn, one airline bragged that 92% of its flights were on time. A random sample of 165 flights completed this year re ...
Matt sells watermelons on the side of the road. The weight of a watermelon has a normal distribution with mean = 9.5 lbs and the standard deviation = 4 lbs. If he loads 100 watermelons on to his truck, what is the probab ...
A factory makes parts for laptop computers, including screws. The screws are required to have the right length. The lengths of the screws obey a normal distribution with mean μ=4.25 millimeters and standard deviation σ=0 ...
On average, the parts from a supplier have a mean of 35.8 inches and a standard deviation of 2.4 inches. Find the probability that a randomly selected part from this supplier will have a value between 31.0 and 40.6 inche ...
If the coefficient of determination is 0.738, what percentage of the data about the regression line is unexplained?
As noted in Chapter 14 of A&A, distribution of income among various population groups followed roughly the same patterns in the USA, Sweden, and the former Soviet Union, despite the very different forms of economic organ ...
Suppose that a firm had a production function given by: q=2L0.5K0.5. The rental rate for the firm is $10 and the wage is $5. Solve the optimization condition for K and then fill in the value that appears in front of L. K ...
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