(ii) Explain the difference between a closed economy fiscal multiplier and an open economy fiscal multiplier giving the appropriate equations. In both cases incorporate a government sector with an income tax rate given by t.

10.61 The per-store daily customer count (i.e., the mean number of customers in a store in one day) for a nationwide convenience store chain that operates nearly 10,000 stores has been steady, at 900, for some time. To increase the customer count, the chain is considering cutting prices for coffee beverages. The question to be determined is how much to cut prices to increase the daily customer count without reducing the gross margin on coffee sales too much. You decide to carry out an experiment in a sample of 24 stores where customer counts have been running almost exactly at the national average of 900. In 6 of the stores, the price of a small coffee will now be $0.59, in 6 stores the price of a small coffee will now be $0.69, in 6 stores, the price of a small coffee will now be $0.79, and in 6 stores, the price of a small coffee will now be $0.89. After four weeks of selling the coffee at the new price, the daily customer count in the stores was recorded and stored in . At the 0.05…

Use graphical method to solve the following LPP: Maximise Z = x +4y Subject to the constraints: x + y < 1 2x + 2y 2 4 *2 0, y 2 0

3. Use the following joint distribution to compute E(X), E(Y), o, o, oxy, and corr(X, Y). Y=0 X=0 X=1 Total 0.15 0.07 0.22 0.78 Y=1 0.15 0.63 Total 0.30 0.70 1.00

Given the functional relationship: y = 14x5/x2  find the value of y when x = 1.5

1. A Travel-Cost Method Now it is time for your first consulting job as an environmental economist. The Forest Service would like to know whether they should preserve some national forest land, previously slated to be logged, for hiking. You are helping do a travel-cost analysis to estimate the annual benefits of hiking in this area. Survey data has been gathered from 500 hikers who visited the forest last year. This forest did not charge an entrance fee. Using a statistical technique called regression analysis, you have controlled for differences in income, employment status, age, and other important factors that might affect the number of hiking trips taken. Taking these factors into account, you have developed the following relationship: Zone 1 2 3 Population in zone 1,000 3.000 2,000 Cost Per Hiking Trip Per Person 20 40 80 Hiking Trips Taken Per Zonal Person Per Year 8 6 2 where cost includes gas, tolls, fares, hotels, entry fees, and the value of time spent traveling. a. Graph a…

Could someone walk me through this problem? Thank you for your help!

If Cov(X,Y) = 639, then what is Cov(19X,10Y)?   Suppose Cov(X,Y) = 43. What is Cov(0.23X, 0.33Y)?    Suppose Cov(X,Y) = 872. What is Cov(0.99X, 0.86Y)?