#1.) Suppose you increase the aggregate supply of capital and labor at
the same rate while holding fixed the state of technology. Assuming that
production exhibits constant returns to scale,
a. real GDP will decrease and labor productivity will increase.
Consider the following statements:
I.
The unemployment rate is too high in most European
countries.
II.
Higher marginal income tax rates will reduce
Walmarts earnings.
III.
Toyota should increase their production of hybrid
vehicles.
In each of the followi
Todays lecture
Today we will combine the two ideas we have
been studying: Probability and Distributions
We will discussing:
Probability Distributions
Mean of a Probability Distribution
Variance & Standard Deviation of a Probability
Distribution
Expe
Todays lecture
Today we continue our discussion of the
Standard Normal Distribution
We will discussing:
Z-scores
percentiles
Central limit theorem
Normal approximation to the binomial
Normal Distribution
To review, we discussed the normal
distribut
Todays lecture
Today we will begin our discussion of the Standard
Normal Distribution
We will discussing:
The Standard Normal Distribution
Using the Standard Normal Distribution
Finding probability values using the Table E in Appendix C
Using z-scor
Todays lecture
Today we will begin our discussion of descriptive
measures
We will discuss the following:
Mathematical concepts
Summation & Factorial
Measures of Central Tendency
Mean
Median
Mode
Midpoint
Todays lecture
We will discuss the following:
Todays lecture
Today we will introduce the concept of how
probabilities come about
We will discuss the following:
Basic Concepts
Sample Spaces
Counting Rules
Todays lecture
We will discuss the following:
Defining Probability
Using Counting Rules f
Todays lecture
Today we continue our discussion of
applications using the Standard Normal
Distribution
Today we will be discussing Confidence
Intervals
In particular, a confidence interval for the mean
Both Large and Small Sample
A confidence interva
Todays lecture
Today we begin our discussion of Hypothesis testing
We will discuss the components of Hypothesis testing
We will also learn how to conduct specific hypothesis
tests
Large Sample Mean
Small Sample Mean
Proportion
Hypothesis Testing
Hy
#1.) Suppose that the economy is initially in long-run equilibrium, that
is, real GDP is equal to potential GDP. If Congress suddenly decreases
the level of govt purchases, what will be the long-run effects on
inflation and investment? (compared to the in
#1.) Suppose that GDP is $11 trillion. If government purchases are $2
trillion, investment is $2 trillion, exports are $2 trillion, and imports are
$3 trillion, then what is the level of consumption?
a. $6 trillion.
b. $7 trillion.
c. $8 trillion.
d. $9 t
Name:_
#1.) Suppose the real interest rate is 3%. If the inflation rate is 3%, then what is the nominal
interest rate?
a.
b.
c.
d.
9%
0%
3%
6%
#2.) If the average annual rate of growth in nominal GDP is around 7%, then about how long will
it take nominal
Todays lecture
Today we will continue our discussion of
Hypothesis testing
We will learn how to conduct a hypothesis test
for:
Two large sample means
Two small sample means
In Review Traditional Method
To conduct a hypothesis test using the
tradition