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Estimate the same model as in part (a) with a probit model. Which model do you think is the most appropriate to use and why?
Why should Donald take the money now or take the annuity if the interest rate is 3%. Explain.
What is the autarky price and quantity of books produced? What are the domestic production, the domestic consumption and amount imported with the quota?
Calculate the equilibrium price and quantity. Calculate the consumer surplus, producer surplus and total surplus at equilibrium.
Derive David's demand functions for X and Y. Hint: MRS=MUX/MUY and MUX=1/X, MUY=2/Y. Demand for X or Y equals utility maximization consumption level of X or Y.
Briefly explain with the aid of a diagram, the short-run effect on the price level. Why Does such an action lower real GDP in the long run?
What price will it set? How much water will it sell? What is the aggregate consumer's plus producer's surplus that results in this case?
Is the data you observed provide evidence for downward sloping demand? Why? Calculate price elasticity of demand.
How the need for control over foreign operations varies with firms' strategies and core competencies. What are the implications for the choice of entry mode?
You see that the interest is not the annual percentage rate, but the amount the dealer is charging every week. What is the effective interest rate?
How long would you have to keep the money in the account to obtain $1,500 assuming a 5% nominal return and no tax? How about if there is a 40% tax?
Draw indifference curves that are consistent with his choice of working hours when he was self-employed and when he worked for Glitz and Drywall.
Steve is driving his truck and can choose a level of care to exert, which is denoted by x, which must be finite. What is the socially optimal level of care?
Define the economic concept being addressed. Incorporate relevant economic theory that is present so that discussion of the article content is clear.
Describe what the American Presidency is all about, Obama's tenure and your feelings about him.
Identify the president's executive powers and the powers shared with Congress.
What are the major issues facing each country involved? What are the reasons for initiating changes to the policy?
Explaining the potential problems with a line-item budget trying to convince him to accept a better budget method.
The concept of the "invisible hand" Adam Smith described can best be expressed as.
Describe contingency plan. Discuss Project planning phase risks and give examples.
Analyze the political, economic, cultural and legal challenges the company currently faces in any of the country it operates.
What are the strategic and financial value of corporate social responsibility and corporate culture. Illustrate this using the Starbucks case.
The following total cost function (TC) by finding out (a) average cost function, (b) the critical values (the output values) at which AC is minimized;
What does this curve represent? Generally, is it increasing, or decreasing? Why?
The problem is the creation of surplus value. How has Marx explained the creation of surplus value?