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Explain why "money supply shifts" are important in macro-economics.
Business Economics, Economics
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A light bulb manufacturer guarantees that the mean life of a certain type of light bulb is at least 720 hours. A random sample of 51 light bulbs as a mean of 710.3 hours with a standard deviation of 62 hours. At an α=0.0 ...
A probability experiment consists of rolling a 6-sided die. What is the probability of rolling a number less than 6.
Given a binomial random variable, X = # successes, where the sample size (n) and the probability of a success (p) are given on right, calculate P(X n =20 p =0.3 a =2 Given a binomial random variable, X = # succ ...
What does the term the Ten Principles of Economics and how it's applied to the consumer buying trends?
Income effects depend on the income elasticity of demand for each good that you buy. If one of the goods you buy has a negative income elasticity, that is, it is an inferior good, what must be true of the income elastici ...
Mathew and Susan are both optimizing consumers in the markets for shirts and hats, where they pay $100 for a shirt and $50 for a hat. Matthew buys 4 shirts and 16 hats, while Susan buys 6 shirts and 12 hats. From this in ...
Listen to (or read the transcript of) this podcast (https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-16-elasticity-of-demand) from the Federal Reserve Bank of St. Louis. describe your experien ...
A bank credit card offered to 500 households; the responses to the offer are as follows. income $50,000 accept offer 50 40 Reject offer 250 160 What is the probability of the offer being accepted or income being > $50,00 ...
A different ethanol processing facility costs $800,000 to construct but will instead last forever. Every year (starting the year after construction), it produces 10,000 barrels of ethanol and can charge a price of $4 per ...
A random sample of 19 college? men's basketball games during the last season had an average attendance of 5,046 with a sample standard deviation of 1,753. a. Construct a 99?% confidence interval to estimate the average ...
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