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Suppose we find out that a large number of individuals with advanced degrees in medicine were unable to find a job in the medical profession and are instead working at McDonald's flipping hamburgers. How would this be shown on a society's PPF graph?
Business Economics, Economics
A coin is randomly picked from a collection of 10 coins, the ith coin having a probabiliity i/10 of coming up heads. The coin in then flipped repeatedly until a head appears. Let X be the number of flips necessary. Find ...
Sixty percent of adults have looked at their credit score in the past six months. If you select 31 customers, what is the probability that at least 25 of them have looked at their score in the past six months?
A lottery game has balls numbered 1 through 19. What is the probability of selecting an even numbered ball or a 9
The following chi-square example of three age groups for men and women.: Age Group 0-18 19-35 Over 35 Men 18 30 12 Women 12 20 ...
INC = 40966.1 + 2.796 POP' sample size = 400 (se) (545.8) (.2796); R2 = .2468 1. Where INC is the income in millions of dollars and POP the population in millions of people. Provide an interpretation of the slope of the ...
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 ...
What do economists mean when they say "that here is no such thing as a free lunch"?
The distribution of the monthly amount women spent on supermarket in Houston city has a mean of $675 and a standard deviation of $80. A random sample of 64 families in this city is selected. Which Excel statement will fi ...
What are three ways that even every forecast model should be evaluated to obtain the best forecast result.
Some farm land is more productive than other land in the sense that it can grow more food per hectare. Farmers also use fertilizer to grow food (i.e. adding fertilizer increases crop yield by 10 percent) earn more revenu ...
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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