For some racquet sports there have been increases in

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Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach
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Chapter 2 / Exercise 19
Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach
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39. For some racquet sports there have been increases in the size of the racquets and the methods and materials used for making them have improved. Which of the following problems in the construction of the CPI is this change in racquets most relevant to?a.substitution biasb.introduction of new goodsc.unmeasured quality changed.income bias
40. Suppose Japanese-based Sony Corporation builds and operates a new chip factory in Canada. What would the future production from such an investment do?
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Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach
The document you are viewing contains questions related to this textbook.
Chapter 2 / Exercise 19
Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach
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Expert Verified
University of Ottawa Name: __________________________ECO1102C Student Number: _________________9Short Answer Questions(20 points)Answer in the space provided.1. (7 points) Using a graph representing the market for loanable funds, show and explain what happens to interest rates and investment if a government goes from a deficit to a surplus.
University of Ottawa Name: __________________________ECO1102C Student Number: _________________102. (7 points) The catch-up effect says that countries with low income can grow faster than countries with higher income. However, in statistical studies that include many diverse countries, we do not observe the catch-up-effect unless we take account of (or control for) other variables that affect productivity. Briefly explain how the catch-up effect works. Then, considering the determinants of productivity, list and explain four factors that would tend to prohibit or limit a poor country's ability to catch up with the rich ones.
University of Ottawa Name: __________________________ECO1102C Student Number: _________________113. The following questions deal with the Consumer Price Index (CPI).a. In 1926, the CPI was 17.7 and the price of a movie ticket was 25 cents. Suppose that the CPI today is 177. How much is the movie ticket worth in terms of today’s dollars? (1 point)b. List the three major problems in using the CPI as a measure of the cost of living. (3 points)c. Provide two reasons why the GDP deflator gives a different rate of inflation than does the CPI. (2 points)

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