Average incomes - Study guides, Revision notes & Summaries

It takes a while for new factory workers to master a complex assembly process. During the first month new employees work, the company tracks the number of days they have been on the job and the length of time it takes them to complete an assembly. The correlation (r) is most likely to be.... A. exactly +1.0 B. near 0 C. near +0.6 D. exactly -1.0 E. near -0.6 - CORRECT ANSWER-E. near -0.6 b/c the longer the worker has worked = more experience = less assembly time For families who live i...

AREC 365 Final Exam Questions and Answers T/F; Average life-expectancy at birth is equal for men and women -Answer-false what are the three factors for explaining low savings by the poor -Answer-money may be lost or stolen, saving options like banks may not exist, temptation to increase consumption in both "goods" and "bads" according to Banerjee and Duflo, individuals living in households where the consumption per capita is less than USD 1.08 per person per day in PPP terms are class...

absolute advantage - Answer the ability to produce a good using fewer inputs than another producer average fixed cost (AFC) - Answer Total fixed cost divided by the number of units of output; a per-unit measure of fixed costs. AFC = FC/Q average total cost (ATC) - Answer Total cost divided by the number of units of output ATC = TC/Q or ATC = AFC + AVC average variable cost (AVC) - Answer variable cost divided by the number of units of output AVC = VC/Q budget constraint - Ans...

T/F; Average life-expectancy at birth is equal for men and women - correct answer-false what are the three factors for explaining low savings by the poor - correct answer-money may be lost or stolen, saving options like banks may not exist, temptation to increase consumption in both "goods" and "bads" according to Banerjee and Duflo, individuals living in households where the consumption per capita is less than USD 1.08 per person per day in PPP terms are classified in which group - co...

Suppose your assignment is to use the standard time trade-off approach to measure quality of life. You are given the following information. An individual is faced with leaving the remaining 10 years of their life suffering from severe osteoporosis. The individual reveals that they would be willing to give up four of those years to live hte remaining six in perfect health. What is the utility of one year in a chronic health state relative to perfect health? A. 0.6 B. 40 C. 4 D. 6 E. 0.4...

AREC 365 Final Exam Questions and Answers Graded A+ T/F; Average life-expectancy at birth is equal for men and women false what are the three factors for explaining low savings by the poor money may be lost or stolen, saving options like banks may not exist, temptation to increase consumption in both "goods" and "bads" according to Banerjee and Duflo, individuals living in households where the consumption per capita is less than USD 1.08 per person per day in PPP terms are classif...

Amanda is measuring the temperature. She looks at the thermometer and sees that it is somewhere between 65 and 66 degrees Fahrenheit. She is okay with the temperature in between two integers because she knows temperature is not ________ data, but temperature is _________ data.  a) Nominal, Ordinal  b) Nominal, Discrete  c) Continuous, Discrete  d) Discrete, Continuous Feedback: The correct answer is D. Temperature is not a measure that comes in increments (discrete) but is co...

Micro Economics Final Exam Questions And Answers, Updaterd Fall 2023, With Complete Verified Solution 100% If a strong economic recovery boosts average incomes, what would happen to the equilibrium price and quantity of a normal good and of an inferior good? The equilibrium price and quantityof a normal good would rise; those of an inferior good would also a normal good would rise; those of an inferior good would a normal good would fall; those of an inferior good would a normal good woul...

Pols 101 Review Questions With Certified Solutions Which of the following has democracy come to mean in practice? Select one: a. pluralistic government through the combination of popularly elected representatives and the influence of interest groups b. oligarchic government through a legislature chosen through popular election c. elitist control through interest group politics d. pluralism through the election of representatives and the influence of corporate interests e. majority r...

Straighterline Business Stats Questions and Answers 100% Pass A marketing class of 50 students evaluated the instructor using the following scale: superior, good, average, poor, and inferior. The descriptive summary showed the following survey results: 2% superior, 8% good, 45% average, 45% poor, and 0% inferior. Most students rated the instructor as poor or average. The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called ____________. S...