a) Name and explain the two roles banks play in the economy

Use the following information to answer parts 4b, 4c, and 4d: Consider an economy with a large number of restaurants. The restauranteur lacks the funds to start the restaurant. There is an equal number of investors who have the funds but no desire run a restaurant, say 2 trillion investors. Each investor has 10 goods to invest. Each restauranteur requires 20 goods. Assume that 20% of the restaurants fail and return zero goods to the investor and the remaining 80% return 40 goods. The monitoring cost is 10 good per failed project.

b) Compute the expected total return for each investor

c) Compute the expected return for each investor when there are competitive banks that operate without any costs

d) compare the outcomes of part (b) to that of part (c)

For the following statement, use economic analysis to explain why you tend to agree, disagree or are uncertain.

1. “Production in a perfectly competitive industry is both productively and socially (allocatively) efficient.”

Q1:

Let’s say our research question we want to find the average (mean) wage among all workers in the United States. Let’s say (and this is obviously not a very good method) we go around UC and stop 500 people and ask them what their wage is and calculate the mean wage.

• What is our population?
• What is our sample?
• What is the parameter?
• What is the statistic?
• What are some problems with our sampling method?

Q2:

Identify the scale of measurement: nominal, ordinal, interval, ratio

• Zip codes
• Stock prices
• Item size (small, medium, large)
• Income of households, measured in dollars
• Educational level, recorded as (High School, some college, college graduate)
• Test score (0-100), measuring score on first statistics exam
• Test score (0-100), measuring overall knowledge of statistics
• A video game was previewed to a group of 30 teenagers. The teens were asked to rate the quality of the graphics.

Q3

A paper manufacturer in Country A sells much of its paper in Country B. The manufacturer is paid in Country​ B's dollars, but pays its employees in Country​ A's dollars. The manufacturer is interested in the fluctuating exchange rate between these two currencies. Each trading day in 2005 the exchange rate fluctuated by several basis points.​ (A basis point is 1/100 of a​ percent.) A year of data is collected.

• Identify whether the data are cross sectional or a time series.
• Give a name to each variable and indicate if the variable is​ categorical, ordinal, or numerical​ (if a variable is​ numerical, include its units if​ possible)
• List any concerns that you might have for the accuracy of the data. Select all that apply.

1. The recorded exchange rates might not be accurate for 2005.
2. The fluctuations of the exchange rate in 2005 might not be typical of other years.
3. The exchange rate is dependent on the country in which the data is recorded.
4. There are no concerns regarding the accuracy of the data.

Q4: A bakery is trying to decide what makes a loaf a bread sell. There are three locations of this bakery and they gather data at all three locations. They measure the volume of the loaf and whether or not it has nuts in it. They then time how long it takes the loaf to sell. What are the cases? (unit of observation) List the variables and the scale of measurement

Q5:

• Why is the median not an acceptable measure for nominal data?

• Why is the mean not an acceptable measure for ordinal data?

• In a strongly skewed distribution, would you prefer the mean or the median?

Q6:

Clara asked twenty-one people what their favorite number is. Please calculate the most complex yet appropriate measure of central tendency for the following data:

7, 3, 0, 7, 8, 2, 1, 2, 7, 6, 10, 6, 7, 1, 10, 0, 6, 8, 10, 3, 1

Discuss the significance of Decentralization within a Unitary State like Zambia in which some provincial/regional boundaries coincide with tribal/ethnic divisions.

Would you advise Grexit or not? Why or why not?

1.What kind of economic structure (monopoly, oligopoly, pure competition, ) is the health care drug industry. Explain why.
2.Do you think that companies should always charge what the market will bear (highest price) or should they base prices on 'ability to pay' (but still at a profit.)
3. Also, should the government set price limits in health care? Look for a more recent example related to today’s pricing and shortages of medical supplies.

I want a 10 page introduction and literature review on

“ACHIEVING ECONOMIES OF SCALE AND SCOPE THROUGH STRATEGIC REACTIVATION OF THE RADIOLOGY DEPARTMENT; -THE CASE OF MY HOSPITAL.

Background: My hospital has been without a functional radiology department for the past at least 5 years because they could not get a specialist doctor Radiologist to run the department.

All clients requiring such radiological services were outsourced to nearby facilities leading to loss of revenue.

Management, a few years ago, strategically decided to reactivate the Radiology department by employing a full time Radiologist to run the department.

1. The maintenance cost for a certain machine is 1500 TL per year for the first 5 years (from n=1 to n=5), 2200 TL in year 6, and from year 7 until year 35 the maintenance cost per year increases 6% with respect to the amount of the previous year. At an interest rate of 8% per year, what is the equivalent equal payment series?

How does increasing returns to scale lead to gains from trade under monopolistic competition?

Due to the corona virus pandemic there has been a decrease in the demand for luxury goods especially in the airline industry where revenue has decreased,  a decrease in consumer income and factories have closed due to the virus causing a supply shortage to companies such as Apple and Toyota. Fully Explain this change using elasticity measurements and determinants (price elasticity and its relationship to revenue, price elasticity of supply and income elasticity of demand . Provide graphs and calculations to support your explanation.

The market demand function is Q = 7000 - 1000p

Each firm has a marginal cost of m = $0.16 Firm 1, the leader, acts before Firm 2, the follower. Solve for the Stackelberg-Nash equilibrium​ quantities, prices, and profits. Compare your solution to the​ Cournot-Nash equilibrium.

The​ Stackelberg-Nash equilibrium quantities are:

q1 = _______ units and q2 = ________ units.

The​ Stackelberg-Nash equilibrium price is:

Profits for firm 1 is:

Profits for firm 2 is:

The Cournot-Nash equilibrium price is:

Profits for Firm 1 is:

Profits for Firm 2 is:

According to the Solow model of growth, growth, in the long run (the steady-state), determine only by growth in technology. However, in the Solow model, there is nothing about how technology determined.

1. What factors do you think might affect technology in the long run?

2. Justify your answer and explain the implications to the growth in the long run.