Questions
(5%) For each of the following data series, state what type of data you are dealing...

  1. (5%) For each of the following data series, state what type of data you are dealing with and which type of graph (from the list below) would be best (the most effective way) to describe the data.
  1. Column (bar) chart
  2. Line chart
  3. Pie chart
  4. Box-plot
  5. Histogram

Data series:

Need to answer what type of data and use which type of graph

1. The number of years since a person immigrated to Canada. These are individual level data collected as part of the 2006 census and are given for 11,000 people (i.e. there are 11,000 observations).

2. CPI in Canada, 1980 to 2015

3. Employment by major industry sectors across Canada in 2010.

In: Economics

What is the future of the Third Sector? Is there a way to change society so...

  • What is the future of the Third Sector?
  • Is there a way to change society so it is no longer needed?
  • How has your opinion of the Third Sector changed?

In: Economics

Question 3) Consider the discussion in chapter 13 of the Jones textbook; answer the questions below...

Question 3) Consider the discussion in chapter 13 of the Jones textbook; answer the questions below in regard to the slope of the Aggregate Demand curve. (You may use a diagram for parts (b) and (c) to better explain your answer)   


a. Why does the AD curve slope downward?

b. If the AD curve were more steeply sloped, how would the economy respond differently to aggregate demand shocks (shocks to ̅)?

c. If the AD curve were more steeply sloped, how would the economy respond differently to aggregate supply shocks (shocks to ̅)?

d. What kind of economic changes in the economy would lead the curve to be more steeply sloped?

(can you answer part (d) for me?)

In: Economics

GENERAL BUSINESS COURSE QUESTION: Joe and Jill were talking about the role played by the Federal...

GENERAL BUSINESS COURSE QUESTION:

Joe and Jill were talking about the role played by the Federal Reserve System in the United States. Joe seemed to be quite well informed about the functions and activities of our central bank. "You see, Jill, the Fed is the main guardian of our nation's economic stability," Joe declared. "In America, we don't want inflation and we don't want recession. To stretch the situation just a bit, we are frightened, absolutely terrified, by thoughts of hyperinflation and depression. So, the Fed maintains the right to alter the situation and protect us from these two monsters. And you ask, how they do that? The answer is the discount rate. That is the device that the Federal Reserve System uses to keep us safe."

Jill was enjoying listening to her friend explain it all. Joe continued, "Now the discount rate is the interest rate that the twelve Federal Reserve Banks around the country charge their member banks on a loan. So, when the discount rate goes up, all interest rates tend to go up. And, happy to say, when interest rates go up all over America, this tends to slow down any inflationary tendencies." Jill asked, "Does the Fed have other tools for stopping inflation?" "No," said Joe.

2) Joe probably can't answer this question, but you can. What happens in the Fed's open market operations?

In: Economics

Total Demand for Private Goods vs Public Goods. Consider the following individual demand functions: Q1 =...

Total Demand for Private Goods vs Public Goods.

Consider the following individual demand functions:

Q1 = 10 – P               Q2 = 8 – P                  Q3 = 7 - P

Rival & Excludable

  1. Complete the following table assuming the product is rival and excludable:

Price ($) WTP

Q1

Q2

Q3

Total Demand

$10

9

8

7

6

5

4

3

2

1

0

WTP= willing to pay

Nonrival & Nonexcludable

  1. If the above product becomes a public good, calculate the total demand for the product and complete the following table:

Quantity Demanded

Price (WTP)

1

2

3

4

5

6

7

8

9

10

11

In: Economics

Public disagreements between Fed Chair Jerome Powel and President Trump could potentially a.damage Fed ability to...

Public disagreements between Fed Chair Jerome Powel and President Trump could potentially

a.damage Fed ability to manage market confidence

b.cause unexpected, random inflation increases

c.lead to unexpected economic growth

d.all of the above

In: Economics

Answer the following questions with an essay of not more than 300 words each: 1. The...

Answer the following questions with an essay of not more than 300 words each:
1.
The table below presents the famous stag hunt game:
Player 2
Stag
Hare
Player 1
Stag
10, 10
0, 1
Hare
1, 0
1, 1
a.
Which is (are) the Nash equilibrium(s)? Justify your answer.
b.
Write a short paragraph on a real life example of the pattern of strategic interactions described by the stag hunt game.
2.
a.
Give a real life example of a negative externality. Explain the Pigouvian solution to a negative externality.
b.
Explain the Coase theorem.

In: Economics

In 1923 during Prohibition, the market for 60 day fermented grape juice was legal, even though...

In 1923 during Prohibition, the market for 60 day fermented grape juice was legal, even though it often had up to 12% alcohol content. For buyers, a high quality bottle of juice was worth $6.65, while a low quality one was only worth $3.33. Sellers valued good bottles at $4.99 and bad ones at $1.96. If an uninformed buyer was willing to pay a price of exactly $4.99 for a bottle of juice, then what was the fraction of good ones?

Group of answer choices

0.35

0.50

0.55

0.65

Consider the 1923 market for grape juice one more time, but now assume that uninformed buyers figured 72% of the juice was good and the rest was bad. At the resulting market price, seller surplus from selling good juice is ____ and seller surplus from bad juice is _____.  

Group of answer choices

$0.73; $3.76

$0.73; $2.11

$1.35; $3.76

$1.35; $2.11

In: Economics

what is the effect of agriculture sector in corona virus

what is the effect of agriculture sector in corona virus

In: Economics

Both command-and-control and market oriented solutions have been used to address the pollution problem. What are...

Both command-and-control and market oriented solutions have been used to address the pollution problem. What are the weaknesses or drawbacks of each approach?

In: Economics

In 1978, sellers of a good Ford Pinto valued them at $1,111 and valued a lemon...

In 1978, sellers of a good Ford Pinto valued them at $1,111 and valued a lemon at $765, while buyers valued good ones at $1,331, and lemons at $780. If an uninformed buyer figured 50% are each type, then the maximum price the buyer would pay for a Pinto would be _____.  

Group of answer choices

$1,035.55

$1,055.50

$1,065.55

$1,095.50

Consider the Pinto market again, but this time assume that uninformed buyers figured that fraction 0.45 are good ones, and the rest are bad. In this case, the price the buyer is willing to pay is _____ and this will _____ an adverse selection problem.  

Group of answer choices

$1,033.44; avoid

$1,033.44; generate

$1,027.95; avoid

$1,027.95; generate

c

onsider the used Pinto market one last time. Under imperfect information, to avoid adverse selection, the minimum percentage of good types necessary to avoid adverse selection is?

Group of answer choices

51.25%

55.5%

57.6%

60.1%

In: Economics

"Wherever evil and administrative evil are unmasked, institutions and administrators have the responsibility to respond, seeking...

"Wherever evil and administrative evil are unmasked, institutions and administrators have the responsibility to respond, seeking ways to move forward that promote justice, accountability, and healing." With regard to the impeachment controversy in Washington, D.C., identify and clearly define an incidence of administrative evil and write an essay on what concrete steps should be taken to deal with it and move forward that promote justice, accountability, and healing.

In: Economics

please list the recent monetary policies implemented by the Fed to support the economy due to...

please list the recent monetary policies implemented by the Fed to support the economy due to the outbreak of COVID-19 in the US. Choose one to analyze using one or all of the ecomonic concepts. -aggregate demand, imcome transfers, fiscal policy, recessionary gap GDP, keynesian model, marginal propensity to consume, multiplier effect.

In: Economics

Suppose that a small town has six burger shops whose respective shares of the local market...

Suppose that a small town has six burger shops whose respective shares of the local market are (as percentages of all hamburgers sold): 26%, 20%, 18%, 14%, 12%, 10%,

a) What is the four-firm concentration ratio of the hamburger industry and what is the Hirchmann Herfindahl Index (HHI) for the hamburger industry in this town?                                                                      

b) Assume that the largest producer now purchases the third largest firm (based market share) so that this new combined firm has the same market share as old firm 1 and old firm 3 combined. Compute the new four-firm concentration ratio and to the new HHI?

In: Economics

What is the logic of domination and how is it used to dominate women, non-white peoples...

What is the logic of domination and how is it used to dominate women, non-white peoples and the environment according to Warren?

In: Economics