Use Okun’s law to determine the size of the GDP gap in percentage-point terms. If the potential GDP is $500 billion in that year, how much output is being forgone because of cyclical unemployment?
Study Question 2 key Questionraph the accompanying demand data, and then use the midpoint formula for Ed to determine price elasticity of demand for each of the four possible $1 price changes. What can you conclude about the relationship between the slope of a curve and its elasticity? Explain in a non-technical way why demand is elastic in the northwest segment of the demand curve and inelastic in the southeast segment.
The reason why demand is elastic in the northwest segment of the demand curve and inelastic in the southeast segment, is that it matters more to the consumer when the ticket is too expensive than it does when it is too cheap.
Study question 7: Key Question A firm has fixed costs of $60 and variable costs as indicated in the table on the following page. Complete the table and check your calculations by referring to question 4 at the end of Chapter 23
b. Graph AFC, AVC, ATC, and MC. Explain the derivation and shape of each of these four curves and their relationships to one another. Specifically, explain in non-technical terms why the MC curve intersects both the AVC and the ATC curves at their minimum points.
c. Explain how the location of each curve graphed in question 7b would be altered if (1) total fixed cost had been $100 rather than $60 and (2) total variable cost had been $10 less at each level of output.
Question 5: The following table gives information from a sample of college students: gender; number of children in family of origin; and number of children in their ideal family, in which they may someday be a parent.
a. Sketch a scatterplot of the data collected from the students and discuss any trends. (Use the same scale on both axes.) Which ...
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(Working With Numbers and Formulas Speech or Presentation)
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In 2009 soy exports were at record numbers for the third year in a row and global demands have begun out pacing supply (National). Factors that may be contributing to the ever increasing usage of soy are that the soybean contains no cholesterol, contains all eight amino acids, are low in saturated fat, and are also considered a good source of fiber, iron, calcium, zinc, and B vitamins.
pression 80 + 3.6R - 0.06(A - 30) to estimate the height in centimeters for a male with a radius (bone in the forearm) of length R centimeters and age A in years, where A is over 30. Use this expression to estimate the height of an 80-year-old male with a radius of length 25 cm.
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ectors of a basis of A, such that for every vector space there exists a basis and all bases of a vector has equal cardinality which is uniquely defined; A is finite dimensional since the dimension of A is finite.
a.) A is a triangular identity matrix whose rows have been
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The food inventory value on December 31 was $45,000. Food purchased for January totaled $32,300 and the closing inventory in January was $36, 500. The per patient meal cost for January was:
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