Other Economics Answers

University and college students average 7.2 hours of sleep per night, with a standard deviation of 40 minutes. Find the amount of sleep that is exceeded by only 25% of students

A cobb douglas production function for a new company is given by F(x,y)=50x^3/5y^2/5. Where x represents the units of labor and y represents the units of capital. Suppose the units of labor and the capital cost is $200 and $100 each respectively and the budget constraint is $30,000. Find the maximum production level for this manufacturer.

Differentiate between private goods and public goods and then illustrate and discuss why in the 

provision of private good the summation is horizontal while it is vertical in the case of the provision 

of public good (50)

Critically discuss any three Macroeconomic and at least two Microeconomic reasons for growth 

in government expenditure

“For supply to respond to an increase in demand the supplier must be aware that demand has

indeed increased, however supply may not respond immediately to the change in demand”, Describe the 

factors that may attribute to this situation.

“For supply to respond to an increase in demand the supplier must be aware that demand has

indeed increased, however supply may not respond immediately to the change in demand”, Describe the 

factors that may attribute to this situation.

The UThere phones are so powerful that they can be used to conduct Parallel Universe surveys which provide (magically) the counterfactuals for the treatment and the control group. From the Parallel Universe surveys, we find out that:

Based on these averages, the true Average Treatment Effect (ATE) and Selection Bias are: [Hint: creating a rationalizable table may help.]

1.    True ATE=250; Selection Bias=0
2.     True ATE=200; Selection Bias=50
3.     True ATE=130; Selection Bias=120
4.     True ATE=125; Selection Bias=125

(a)  The selection bias in this example is likely to be

           i. zero because herders who choose to buy the phone are not different from and have equal income, on average, to herders who choose not to buy the phone.

         ii. negative because herders who choose to buy the phone are different in ways that give them higher income, on average, than herders who choose not to buy the phone.

        iii. positive because herders who choose to buy the phone are different in ways that give them higher income, on average, than herders who choose not to buy the phone.

        iv. dependent on actual levels of poverty in Nepal and Tibet after the pilot program of UThere phones is carried out.

3. (a) Define “production possibility frontier (PPF)”.                            (3 marks)

            (b) Using production possibilities frontier (PPF) diagrams, distinguish between ‘bowed outward PPF’ and ‘straight line PPF’.               (10 marks)

4.(a) Using a production possibilities frontier (PPF), explain the following concepts:

i) Opportunity cost; (4 marks)

ii) Productive efficiency; (4 marks)

iii) Economic growth. (4 marks)

(b) Using a production possibilities frontier (PPF), explain the concept of ‘attainable’ and ‘unattainable’. (7 marks)

Ahmad wants to deposit money for 5 consecutive years starting 4 years from now so she can withdraw $50,000 twelve years from now, Assume the interest rate is 10% per year. The annual deposit is closest to:(please answer correctly with Calculation because it is urgent)??

a. $5185

b. $5085

c. $5585

d. $5285