2.1 Describing Qualitative Data
A class is one of the categories into which qualitative data can
be classified.
The class frequency is the number of observations in the data
set falling into a particular class
The class relative frequency is the class fre
Economics Chapters 8 & 9
Economic growth: increase in real GDP or real GDP per capita over some time
period.
Arithmetic of growth: Rule of 70
Real GDP per capita =
Real GDP
Population
Rule of 70: method of determining the number of years it will take for
Economics for Managers
Aggregate Supply / Aggregate Demand
Homework
Name: Nathan Taube
1. Graph the following situations. Be sure to fully explain what happens to the economy.
(i.e. pressure on prices, GDP, unemployment) (You can copy the graphs from my s
J'I
Economics for Managers Name: ; S l
Aggregate Supply / Aggregate Demand
Homework
1. Graph the following situations. Be sure to fully explain what happens to the economy.
(i.e. pressure on prices, GDP, unemployment) (You can copy the graphs from my slid
Economics for Managers
Supply and Demand
1.
Names: Nathan Taube
Assume that you have estimated the demand and supply equations in the market for new housing
in Jackson to be given by:
QD = 15 2P + 0.05M + 0.10R
QS = 96 + 2P 10PL 4PK
where,
QD = monthly qu
Demand and Supply Homework - ECON
Qd=15-2P+.05M+.10R
QS = 96 + 2P 10PL 4PK
a
Qd=
QD = monthly quantity demanded (in 1,000 square feetMper month)
QS = monthly quantity supplied (in 1,000 square feet per
R month)
P = price per square foot
M = average monthl
BQA 2113, STAT I, SECTIONS 1 AND 2, FALL 2013
EXAM I (100 PTS.), MONDAY, SEPTEMBER 30TH.
NAME:
9-DIGIT MSU ID:
Multiple Choice Questions. Circle the correct answer once (2 pts. each). Answers not circled
would be considered as wrong ones.
1. One advanta
Microeconomics Exam 2 Study Guide (Chapters 19-22)
1) The price elasticity of demand is a measure of what?
2) What is the formula to calculate price elasticity of demand?
3) How does elasticity and total revenue relate?
4) How does the amount a product co
PRINCIPLES OF
MACROECONOMICS
Chapter 1 Introduction
THE POWER OF ECONOMIC ANALYSIS
Economic Analysis is the ability to use an
economic way of thinking to examine
decisions that you must make during your
daily life.
These can range from political, economi
Microeconomics
Chapter 2
Scarcity and the World of Trade-Offs
Scarcity
Scarcity
is when the ingredients
for producing all goods to satisfy
all wants at a zero price are
insufficient
Scarcity is not a shortage or
poverty because scarcity is all
encompassin
Microeconomics Exam 1 (Chapters 1-4) Study Guide
1.) What is positive economics?
2.) Be able to use and interpret a PPC curve. (What it measures, movements along, inside of, and
outside of the curve)
3.) Microeconomics is concerned with the study of what
Discussion Questions and problem solving assignments/exercises
Read Chapter 7 and do the assignments shown below. Then submit your work using
blackboard assignment tools.
Week 13&14
Chapter 7
Pages 265-267
Ex. 1,5,6,7a, & 8
Also read the attached Power Po