During October 1962 the United States and the Soviet Union engaged in a stand off over the Soviet Union’s attempted deployment of nuclear missiles to Cuba. We will model part of the crisis dynamics as they looked on October 22, 1962 when President Kennedy announced the naval blockade of Cuba stating that Soviet ships carrying nuclear missile equipment would be turned back if attempting to enter Cuba. Consider this a sequential move game where the first mover Premier Krushchev can choose to retract (R) the ships or order them to challenge (C) the blockade. If Krushchev retracts, the game ends and it will be perceived as a political failure for Krushchev and a win for Kennedy with payoff 2 of (−1, 1), meaning a payoff of −1 to Krushchev and 1 to Kennedy. If Krushchev challenges the blockade, Kennedy will observe the challenge and now has an option to enforce (E) the blockade or to fold (F), the latter meaning letting the ships proceed to Cuba. If Kennedy folds the game ends, and Krushchev will deploy nuclear missiles to Cuba and achieve an improved strategic position, resulting in payoffs of (5, −5). If Kennedy enforces the blockade, the crisis will escalate with the distinct possibility of nuclear war ensuing. We will assign payoffs (−100, −100) to the act of enforcing the blockade.

1. Draw the extensive form game between Krushchev and Kennedy.

2. What are the pure strategy Nash equilibria of the game? Explain.

3. What is the subgame perfect Nash equilibrium of the game? Explain.

4. In reality, Kruschev retracted the ships. The following is an open ended question: In order to understand this action, how is it in your mind best understood given the previous analysis? Is the equilibrium concept not appropriate? Would you consider changes in the game?

In August 2003, 56% of employed adults in the United States reported that basic mathematical skills were critical or very important to their job. The supervisor of the job placement office at a 4-year college thinks this percentage has increased due to increased use of technology in the workplace. He takes a random sample of 530 employed adults and finds that 324 of them feel that basic mathematical skills are critical or very important to their job. Is there sufficient evidence to conclude that the proportion of employed adults who feel basic mathematical skills are critical or very important to their job has increased at the α = 0.01 level of significance?

On a separate sheet of paper, write down the hypotheses (H₀ and H_a) to be tested.

Conditions:
np₀(1-p₀) = _______ (Round to 3 decimal places.)
The normal approximation test for proportions  (is / is not) appropriate for this data.

Rejection Region:
To test the given hypotheses, we will use a (left / right / two) -tailed test.  
The appropriate critical value(s) for this test is/are________ .  (Report your answer exactly as it appears in Table V. For two-tailed tests, report both critical values in the answer blank separated by only a single space.)

On a separate sheet of paper, sketch the rejection region(s) for this test.

The rate of entrepreneurship has been growing steadily in the United States over the past decade. The reasons behind this increase are varied. Most of the people starting a business seek a combination of greater financial success, independence, flexibility, and challenge.

Owning a business holds appealing benefits for entrepreneurs like being their own boss, having control over their schedule, and facing new challenges. Almost every entrepreneur starts out as a small businessperson but not every small businessperson starts out as an entrepreneur.

Entrepreneurs should have a vision, self-reliance, energy, confidence, tolerance of uncertainty, and tolerance of failure. Entrepreneurs are wildly excited about their own new ideas. They find new solutions to old problems, and they develop new products, and they stick to their ideas in spite of the discouragement they face from others.

Answer This Question: If you could do anything for work: Anything that would give you the income to live in a manner that you want to live (rich, poor, middle class, bohemian, artistic, unattached, settled, etc), what would you do?

The United States of America (USA) have by far the highest negative trade balance among the world countries in absolute terms. At the same time they have continuously reduced the tariffs imposed on imports over the last decades (average import tarriff rate has gradually fallen from about 20% in the 1930’s to less than 2% currently). Please, provide your comment on this situation! Would you suggest the USA to impose more trade barriers in order to reduce their trade deficit – why or why not?

The European Union (EU) and United States (US) demand and supply equations for corn are: QDEU = 70 – 2 PEU QSEU = 20 + 3PEU QDUS = 130 – 3PUS QSUS = 30 + PUS where QD and QS represent the quantities demanded and supplied in both countries (in billions of tons) and P represents the Dollar price per ton of corn in each country.

Now assume that there is free trade between the European Union and US.

d. Determine the international equilibrium price of corn (per ton).

e. How much corn is produced and consumed in the European Union and US.

f. How much corn is traded between the two regions. Draw graphs to represent the market situation before and after trade. Suppose now that the European Union limits its imports of corn to 14 billions of tons.

g. What will be the new equilibrium prices of corn in the European Union and US?

h. What are the new domestic production and consumption levels in each region? How much corn is traded?

2. The European Union (EU) and United States (US) demand and supply equations for corn

are:
QDEU =70–2PEU QSEU =20+3PEUQDUS = 130 – 3PUS QSUS = 30 + PUS

where QD and QS represent the quantities demanded and supplied in both countries (in billions of tons) and P represents the Dollar price per ton of corn in each country.

f. How much corn is traded between the two regions. Draw graphs to represent the

market situation before and after trade.
Suppose now that the US limits its imports of corn to 14 billions of tons.

g. What will be the new equilibrium prices of corn in the European Union and US?
h. What are the new domestic production and consumption levels in each region? How

much corn is traded?

The European Union (EU) and United States (US) demand and supply equations for corn are: QDEU = 70 – 2 PEU QSEU = 20 + 3PEU QDUS = 130 – 3PUS QSUS = 30 + PUS where QD and QS represent the quantities demanded and supplied in both countries (in billions of tons) and P represents the Dollar price per ton of corn in each country. a. Graph the US and European Union supply and demand curves for corn (what are the intercepts?). b. Determine the US and European Union equilibrium prices in the absence of trade. c. Find the surplus (or shortage) in both countries at the price of $ 20.

Do health care workers in the United States have the potential to meet the primary care needs created by the implementation of the ACA? Discuss workforce planning and the shortcomings of our system in this regard. Consider the education required for various health care professions, along with the factors that render it so expensive. Additionally, consider some of the critical issues related to the health care workforce that need to be addressed to ensure a system that can deliver the quality and quantity of care needed by Americans.

the average annual miles driven per vehicle in the United States is 11.1 thousand miles, with σ ≈ 600 miles. Suppose that a random sample of 36 vehicles owned by residents of Chicago showed that the average mileage driven last year was 10.8 thousand miles. Does this indicate that the average miles driven per vehicle in Chicago is different from the national average? Use a 5% level of significance.

a. State the null and alternative hypotheses ?0: ?1:

b.What calculator test will you use? List the requirements that must be met to use this test, and indicate whether the conditions are met in this problem.

c. Run the calculator test and obtain the P-value.

d. Based on your P-value, will you reject or fail to reject the null hypothesis?

e. Interpret your conclusion from part d in the context of this problem.

1. While non-invasive prenatal testing (NIPT) is increasingly common in the United States, it is not universally supported

1. Make at least one argument for NIPT.
2. Make at least one argument against NIPT.
3. Contrast these arguments and discuss how you feel about NIPT (so long as you engage specifically with the arguments, there is no wrong answer to this question, it’s based on your opinion)