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Why did the "Great Stagflation" present a huge problem to the Keynesian Theory? Why could this theory not explain the phenomenon of stagflation?
Business Economics, Economics
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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?
A brewery pulls 905 bottles of beer to sample them for quality control. In the past there has been a 0.12 probability that a bottle of beer is defective. Assuming this trend continues, what is the probability that fewer ...
The distribution of seed weights for pumpkins is closely approximated by a normal distribution. You know that 95% of the seeds weigh less than 0.68 grams and that 5% of the seeds weigh less than 0.36 grams. Suppose you s ...
A researcher wishes to estimate the mean number of hours per week that children in the 10 to 12 year age range spend viewing television. How large a sample should be selected so that the estimate is within 0.25 hours of ...
Consider the following Cournot oligopoly: There are two identical firms in the industry, which set their quantities produced simultaneously. The two firms face a market demand curve, Q = 120 - P, in which Q = q1 + q2. Ea ...
If we compare and contrast the four market structures, it is evident that one market structure is most practiced and evident in the United States. It is the one that promotes and strives on competition. It is the one tha ...
Why did prior to 1945 nearly all neoclassical economists agreed that democracy and capitalism were natural enemies?
?A sample of 100 people is classified by gender (male/female) and by whether they are registered voters. The sample consists of 80 females and 20 males, and has a total of 60 registered voters. If these data are used for ...
Using a survey, researchers found that women spend on average $100 a standard deviation of $15 for the Christmas holiday. Find the following probabilities. Assume the variable is normally distributed. a. What is the prob ...
Is the following an example of a binomial experiment? At a campus activities board event, an entertainer gives tickets with sequential numbers to every attendee (i.e. 1, 2, 3, 4, 5... n). Throughout the event, the entert ...
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