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Terms in this set (10)
The graph shows date for the years 2010 through 2012.
Which might be a better title for this graph?
Total Exports for the United States and China
The graph shows merchandise export date for the years 2010 through 2012.
Which statement most accurately describes the information presented on the graph?
China exported more goods than the United States from 2010 to 2012.
Which unemployment rate do most economists consider to be acceptable?
5 percent
Which describes a factor that limits economic growth?
having low internal demand
The circle graph shows the GDP in Germany for 2012.
Which sector of Germany's economy had the highest GDP?
services
An increase in gross domestic product (GDP) is a sign that a country's economy is
growing
The map shows GDP per capita in the United States for a given year.
What conclusion can someone draw from the map?
States with the lowest per capita GDP tend to be in the South.
These circle graphs show information about Bolivia's workforce and GDP.
What do the graphs indicate about Bolivia's labor force?
Many people in Bolivia work in agriculture.
Economic growth takes place when a country
produces more goods and services
(?)
Jim lost his job in a car assembly factory to a robot and his skills will no longer be needed. Which terms can be used to describe Jim? Check all that apply.
Structurally unemployed (4),
Unemployed (6)
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What do merchants usually do to sell items that are overstocked? What does this tell you about the equilibrium price for the product?
Verified answer
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Suppose you observe the investment performance of 350 portfolio managers for five years and rank them by investment returns during each year. After five years, you find that 11 of the funds have investment returns that place the fund in the top half of the sample in each and every year of your sample. Such consistency of performance indicates to you that these must be the funds whose managers are in fact skilled, and you invest your money in these funds. Is your conclusion warranted?
Verified answer
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Near the time of an election, a cable news service performs an opinion poll of 1,000 probable voters. It shows that the Republican contender has an advantage of 52 percent to 48 percent. a. Develop a 95 percent confidence interval for the proportion favoring the Republican candidate. b. Estimate the probability that the Democratic candidate is actually leading. c. Repeat the above analysis based on a sample of 3,000 probable voters.
Verified answer
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For security reasons, a company will enclose a rectangular area of $7762.5 \mathrm{m}^{2}$ in the rear of its plant. One side will be bounded by the building and the other three sides by fencing. If the bounding side of the building is 130 m long and 250 m of fencing will be used, what will be the dimensions of the rectangular area?
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