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What does the law of large numbers state?
Microeconomics, Economics
Question: Suppose that large oil reserves are discovered off the coast of Cuba, and these reserves will increase the world's supply of oil by 2 percent. If the elasticity of demand and supply of oil are -0.20 and 0.40, r ...
Question: a. Why women are more likely to stay at home and take care of children than men are? b. What you expect would happen to (a) if women's salary were to increase so that women make 10% more than men, for the same ...
Question: You are an economist who wants to know how risk of on-the-job injury affects peoples' wages. Studying construction workers (who have a substantial risk exposure), you discover that they earn very little more th ...
Question: In your opinion, how can behavioral economics be used for YOU as a student? How would you apply and use behavioral economics if you were a small business owner? The response must be typed, single spaced, must b ...
Question: India and China have roughly the same size population, and although per capita GDP in China is probably somewhat larger, the difference is not very great. Labor costs are lower in India than in China, and in sp ...
Question: Suppose the capital gains tax rate were cut from 20% to 15%, which boosted the stock market by 5%. Assuming that 20% of the additional gains were realized, calculate the change in capital gains tax receipts und ...
Question: Suppose the country of Nepal, a small open economy can be described by the following equations: Y = C + I + G + NX Y = 5000 G = 1000 T = 1000 C = 250 + 0.75(Y - T) I = 1000 - 50r NX = 500 - 500e r = r* = 5 (a) ...
Question: 1. According to the Bird and Borio readings, global economic imbalances arise over time and are often the usually the result of financial or structural economic imbalances that manifest in external imbalances. ...
Question: Special interests do not oppose regulations in all cases. The Marketplace Fairness Act of 2013 would require online merchants to collect sales taxes from their customers in other states. Why might a large onlin ...
Question: Again our seller starts with demand Q = 12 - P and marginal production costs of $4 per unit. The seller's transaction cost is $1 per unit, and buyers' are $2 per unit. a. Show that profit-maximizing output is 2 ...
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