Define the following common rating errors/biases and give an example per item. 1. Leniency Error 2. Central Tendency Error 3. Strictness Error 4. Halo Error 5. Proximity Error 6. Contrast Error 7. Recency Effect

Q: c. In the West, what is the opportunity cost of producing one more unit of food? In the East, what…

A: Opportunity cost is defined as the benefits foregone when an individual chooses one alternative over…

Q: a 95% confidence interval for B1, the regression slope coefficient. confidence interval for B1, the…

A:

Q: If Tom sells 600 sandwiches for $10 and has an average total cost of $5, what is his profit? a)…

A: Given :  No. of sandwiches Tom sells = 600 Price of sandwich = $10 Average Total Cost = $5.

Q: For the market demand given below, given a Marginal Cost of $0 (zero), what PRICE will a MONOPOLIST…

A: A monopolist is a single firm in the market which has market power to charge price greater than…

Q: Suppose that a worker value jobs by both the wage rate and the workplace collegiality. The woker's…

A: Answer -

Q: “The impacts of a (a) budget deficit and (b) capital flight on the equilibrium in the open economy…

A: A budget deficit is a financial scenario in which a country's government borrows more than it earns…

Q: This question concerns the mechanism of a reserve currency standard. Two countries, X and Y, have…

A: Given that; There are two countries, X and Y, their currencies are X and Y. Suppose the exchange…

Q: When money is used as medium of exchange A. the need for a barter system diminishes B. the cost of…

A: In an economy, when money is used as the medium of exchange, it is the situation when purchasing a…

Q: The terms MO, M1, M2 classify money according to which of the following? Level of liquidity Reserve…

A:

Q: Consider a simple economy producing two goods: cars and milk. The following table gives several…

A: Production possibility frontier depicts the combination of two goods that a nation can produce by…

Q: Mr. Edwards borrowed P 200,000 and agrees to pay P X annually for 5 years at the rate of 6%…

A: Amount Borrowed = 200000 Annual Payment = x n = 5 r = 6%

Q: Economics Why is international finance desirable to borrowing countries?   a.  International…

A: (Q) Why is international finance desirable to borrowing countries? a. International finance allows…

Q: Economics Part 1 O See Hint A firm produces output (y) using two inputs, labor (L) and capital (K),…

A: Answer: Given, Production function: y=fL,K=L0.25K0.75 The slope of the production function is MRTS…

Q: The demand and total cost functions for a monopolistically competitive market are: Q(P) =…

A: Monopolistic competition occurs when multiple enterprises provide similar (but not identical) goods…

Q: Ms. Kelsy wants to have PHP 3,000,000 within four years for her daughter's graduation. How much…

A: Future Value is the value or amount that gets accumulated from regular payments or savings. It gets…

Q: What advantages and what drawbacks can you suggest that a performance related pay scheme for…

A: Workers pay scheme is one of the best way the government intervenes the market to safeguard the…

Q: Consider the following hypothetical scenario: actual GDP is measured to be 3% below potential.…

A: The measure that depicts the final value of goods and services being produced in an economy during a…

Q: Discuss two cases of price elasticity of demand. Use diagrams to motivate your answer

A: The price elasticity of demand is defined as the percentage change in quantity demanded divided by…

Q: Assume a Hawk -Dove game with the following payoff matrix, where the first entry is Animal A's…

A: Since the question you have posted consists of multiple parts, we will answer the first three…

Q: Let GDP (Gross Domestic Product) as a simplification, only be one good, apples. Find the 100 and…

A: GDP refers to the value of goods and services produce in a country during a year within the domestic…

Q: 1. Firms competing in an oligopoly could essentially cooperate a. and act as one monopolist and…

A: In oligopoly market structure, there are a few large firms whose output and price decisions are…

Q: Assume that there is a 20 percent required reserve ratio and the public deposits $10 million in the…

A: Given information: Required reserve ratio = 20% Public deposits = $10 million

Q: Answer the following questions. 2.1 One good: barley. The economy has enough labor, capital, and…

A: 2.1  Y=800 Ms= $2000 P= $10/bushel

Q: 1. The table below reports the unemployment rate, labor force participation rate, and (working-age)…

A: The labor force participation rate is an estimate of an economy's active workforce. The formula is…

Q: Assume Bolivia and Chile use the same amount of resources to produce tin and copper. The following…

A: A country is said to have a comparative advantage if it can produce the good at a lower opportunity…

Q: 8. Which of thefllowingsatemens is fale? a. Accordingto the esuls o he oncooperativ, alenatingofer…

A: Game theory refers to the study of strategic interactions between the players in which the choices…

Q: Screening and Imperfect Information Asymmetric information refers to a market where one side (either…

A: Market refers to the place where the buyers and sellers exchange goods and services in the market.…

Q: 14. The salaries of Left Tackles increasing relative to other lineman and other positions generally…

A: The position of left tackle has risen to prominence. Other than the quarterback, it is usually the…

Q: A USA Today/CNN/Gallup survey of 363 working parents found 204 who said they spend too little time…

A: We have sample size (n) = 363 who took the part in survey

Q: 8. Two software companies sell competing products. These products are substitutes so that the number…

A: Demand function for company 1 : X1 = 1000 (90 - p1/2 + p2/4 ) Demand function for company 2 : X2 =…

Q: How can the Big Mac Index explain the ability of a country's exchange rate? And how does the Big Mac…

A: The measure that depicts the value of one currency being measured in terms of another currency is…

Q: 1. Firms competing in an oligopoly could essentially cooperate a. and act as one monopolist and…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: An asphalt pavement costing PHP 100,000 which would last for 5 years with negligible repairs. At the…

A: Given that; An asphalt pavement costing PHP 100,000 which would last for 5 years with negligible…

Q: Since the supply curve intersects the horizontal axis, all of the points along the supply curve…

A: Since you have asked multiple questions, we would be answering the first one for you. To get the…

Q: Consider the following Cobb-Douglas production function: Y = AK“L® (1) where Y is aggregate output,…

A: A simple linear equation is also known first degree equation. These equations will have a homogenous…

Q: Table 1 represents the components of the UAE current account balance during 2019-2020. Table 1…

A: The Current account is a component of balance of payment (BOP). It accounts all the export and…

Q: Quantity The graph above shows the domestic demand, domestic supply and world price of a good.…

A: Autarky is a state of self-sufficiency. In autarky, a country doesn't need to trade with the other…

Q: ompute for the missing values in the table. Show your solutions below. Quantity of Variable INPUT…

A: Total product is the total output produced. Marginal product refers to change in total product from…

Q: Economies to scale refer to

A: Companies benefit from economies of scale as manufacturing gets more efficient.Economies of scale…

Q: Now let income change by 100. What will be the value of the constant term in the new Qd equation and…

A: The equilibrium price is the only price where the plans of consumers and the plans of producers…

Q: 8. All of the following are means that oligopolists can use to reduce the risks of price wars…

A: Hi! Thank you for the question as per the honour code, we’ll answer the first question since the…

Q: If a person moves $1,000 from a small-denomination time deposit to a demand deposit account, Select…

A: M1 money supply: The M1 money supply is very liquid. The liquidity of an asset refers to how easily…

Q: Again, please use the following data for an economy that has only two banks, Bank A and Bank B.…

A: M1 is the money suply which are liquid in nature. It is measured as:M1=Currency in…

Q: Payoff Matrix (Profits) A Colludes A Competes A.S150,000 A S400,000 B Colludes BS150,000 8-S150,000…

A: In the game theory, there are different strategies available for the players to choose from and get…

Q: Suppose you have log(wage) = Bo + B1 * educ + B2 * exper + B3 * white + B4 * experXwhite + u The…

A: The experience of white workers is represented by the variable "experXwhite" which eventually shows…

Q: George Bernard Shaw stated, "Economy is the art of making the most of life." Which of the following…

A: Here, it is given that, according to George Bernard Shaw, economy is considered as an art to make…

Q: oger Marquez purchases a lot for $ 40,000 cash and plans to sell it after 5 years for $ 122,461. If…

A: Nominal Interest Rate =  Real Interest Rate and Inflation Rate (1 + i ) = ( 1 + r ) * ( 1 + c )…

Q: Briefly describe how the advent of a financial crisis may increase the different categories of…

A: Asset values plummet, firms and individuals are unable to pay their loans, and financial…

Q: What change in the budget deficit will cause the trade deficit to increase, all else the same? A)…

A: A budget basically refers to an estimate of future income and spending that is generally prepared…

Q: Economics 33. Is the following statement true or false? Explain

A: Economic profit is the difference between economic revenue and economic costs. Economic costs are…