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Why does the assumption of independence of risks matter in the exs of insurance? What would happen to premiums if the probabilities of houses burning were positively correlated? Can you think of a situation where they might be negatively correlated?
Microeconomics, Economics
Question: During 2008, the average income in China increased by 10 percent. Compared to 2007, how do you expect the following would change: a. The demand for beef? Explain your answer. b. The demand for rice? Explain you ...
Question: Problems exist within the firm. There were problems of collective action, public goods, knowledge problems, and perverse incentives to name some. What were the three methods we discussed in class to help resolv ...
Question: What is a trade war? What are the consequences of a trade war? What is the validity of the most frequently presented arguments for protectionism? What are the economic effects of tariffs and quotas? The respons ...
Question - The General Mills Company (GMC) purchased a milling machine for $90,000, which it intends to use for the next five years. This machine is expected to save GMC $31,000 during the first operating year. Then the ...
Question: Suppose the U.S. government decides to reduce military spending. Using the Simple Keynesian model, describe graphically the impact of this event on equilibrium real GDP. If equilibrium real GDP was equal to its ...
Question: If the price consumers pay and the price sellers receive are not affected by whether consumers or sellers collect a tax on a good or service, why does the government usually collect a tax from sellers rather th ...
Question: In 1999 Brazil was forced to devalue the real by almost 50%, and in 2002 Argentina was forced to devalue the peso by almost 50%. According to the static model, that would boost net exports and raise GDP. Howeve ...
Question: Why is or is not addiction, or the war on drugs more broadly, an appropriate topic for health economists to study? What insights or perspectives could economists add? The response must be typed, single spaced, ...
Question: 1. Discuss the relationship between the strategic decisions and compensation practices of your current or former organization (Alternately, you may conduct online research to select an organization of your choi ...
Question: Suppose the government imposes a payroll tax of $1 per hour of work and collects the tax from employers. Use a graph for the market for labor to show the effect of the payroll tax, assuming the special case of ...
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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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