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Inflation and oil prices
Suppose there is a rather dramatic increase in the price of oil. What type of inflation might this create? What impact could this have on the level of production and therefore the unemployment rate?
Business Economics, Economics
Suppose a retailer claims that the average wait time for a customer on its support line is 179 seconds. A random sample of 57 customers had an average wait time of 169 seconds. Assume the population standard deviation fo ...
What does this demand sequence mean? (I am assuming that x,y,and s are related products) Qx= 1.5 -3.0Px + 0.8(Income) + 2.0 Py -0.6 Ps + 1.2(Advertising) Then a year passes and the values are: Px=2 I=2.5 Py=1.80 Ps ...
The weight of a box of cereal is known to be normally distributed with a mean of 16 ounces and variance equal to 2 ounces. What is the probability that the weight of a randomly selected box of this cereal is equal to 15. ...
Suppose demand and supply are given by: Q d x = 14 - 0.5 P x and Q s x = .25 P x - 1 a) Determine the equilibrium price and quantitiy. b) Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium ...
Arrow's Theorem that states there is no true fair method for voting. Do you agree or disagree with this statement? Why?
I would like know what issues are in US about controlling pharmaceutical costs related to healthcare delivery, economics and policy. Who are the stakeholders and what are their role and the cause and effect?
A survey of Internet users reported that 20% downloaded music onto their computers. The filing of lawsuits by the recording industry may be a reason why this percent has decreased from the estimate of 27% from a survey t ...
Define economies of scope. Is this concept related to economies of scale? Explain. Define economies of scale. How does this relate to returns to scale?
Prof G's farmer friend claims that aliens made crop circles in his farm. Using economic theory, prove his farmer friend wrong.
If the coefficient of determination is 0.738, what percentage of the data about the regression line is unexplained?
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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
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