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describe what is wrong with this statement: “Opening trade drives prices of goods and costs of factors into equality between countries, but once prices and costs equalize, there is no longer any reason to trade.”
Business Economics, Economics
In the U.S., 82% of police officers have graduated from a police academy. If 300 police officers are chosen at random, what is the probability that at least 75% have graduated from a police academy? Keep intermediate ste ...
You have a deck of Magic the Gathering cards with 60 cards total. In the deck you have 20 Mana cards, 18 Spells, 3 Artifacts, 12 Creatures, 6 Enchantments and 1 Planes Walker. What is the probability that you draw 2 arti ...
Suppose that Serendipity Bank has excess reserves of $12,000 and check able deposits of $150,000. If the reserve ratio is 20 percent, what is the size of the bank's actual reserves?
At a college the scores on the chemistry final exam are approximately normally distributed, with a mean of 75 and a standard deviation of 15. The scores on the calculus final are also approximately normally distributed, ...
Carefully explain how the negative price elasticity of demand affect the revenue or profit of an organization?
The offices of? president, vice? president, secretary, and treasurer for an environmental club will be filled from a pool of 16 candidates. Nine of the candidates are members of the debate team. ?(a) What is the probabil ...
Practical Exercise 1: Assume the demand for teachers (Ld) in a school is given by the following equation: W = 1700 - 2L D and the supply of teachers (L S ) depends on whether the school is a public school or private sch ...
Event A occurs with probability 0.4. If events A and B are not disjoint, then a P(B) b P(B) ≥ 0.6. c P(B) > 0.6. d P(B) Step 1:You are tossing a balanced die that has probability of coming up 1 on each toss. Tosses are i ...
Assume that the pizza market consists of two firms, Conan's and Pizza Hut. The price of a Conan pizza is denoted by Pc and the price of a Pizza Hut Pizza is P h. Both sellers have a marginal cost of $5 for another pizza ...
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 ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As
Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int
Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As