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We would expect India using the rule of 72 to double its GDP per capita in 12 years if current growth of GDP and population continues. I tell you that its GDP growth rate is 7%. What is its population growth rate?
Business Economics, Economics
How would you explain the concept of a quality adjusted life year? When is it appropriate to use "QALYs" instead of simply improved life expectancy as the outcome measure in an economic evaluation?
In some states allow requires drivers to turn on their headlights when driving in the rain. A highway patrol officer believes that lesson one-quarter of all the drivers follow this rule. As a test, he randomly samples 20 ...
The time spent (in days) waiting for a heart transplant can be approximated by a normal distribution. Day range of 60-200. u=129 o=20.2. (a) What is the shortest number of days spent that would put a patient in the to ...
Why does a government undertakes expansionary fiscal policy? What are the problems of undertaking expansionary fiscal policy? When is fiscal policy more appropriate than monetary policy?
Consider a banking model with delegated monitoring. Markets are perfectly competitive. There is a large number of borrowers who lack the funds and a large number of lenders who have the funds. Each lender has 10 goods to ...
You have a part-time job at the library that pays $10 per hour, 4 hours per day on Saturdays and Sundays. Some friends want you to join them on a weekend ski trip leaving Friday night and returning Monday morning. They e ...
Money in a bank account earns 7% simple interest per year. (a) What is the effective rate of interest for the time interval [3,4]? (b) What is the effective rate of discount for the time interval [3,4]?
It was reported that 72 % of Americans don't exercise at least 30 minutes each day. If three people are selected at random, find the probability that all three will say that they don't exercise at least 30 minutes each d ...
QXd = 14 - (1/2) P X and QXS = (1/4)P X - 1 a. Determine the equilibrium price and quantity. Show the equilibrium graphically. b. Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium price a ...
Suppose the cross-price elasticity of demand between goods X and Y is -4. How much would the price of good Y have to change in order to change the consumption of good X by 10 percent?
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