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Unemployment Rate = Number of Unemployed / Total Labor Force
Total Labor Force=142.6+212.6
Unemployment Rate =5.7/355.2 * 100=1.6%
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20200802170037econ211 E
The following table shows the monthly wages of five different individuals. 1) Refer to the table above. What is the averag ...
20200802170037econ211 E
The following table shows the monthly wages of five different individuals. 1) Refer to the table above. What is the average monthly wage?
Northern Virginia Community College Economics Game Theory Questions
1. Draw a game tree with three players who choose in sequence; where the 1
st
player has four actions
(a, b, c, d); the ...
Northern Virginia Community College Economics Game Theory Questions
1. Draw a game tree with three players who choose in sequence; where the 1
st
player has four actions
(a, b, c, d); the 2
nd
player also has four actions (w, x, y, z); and the 3
rd
player has two actions (u, v).
Player 2 knows when player 1 chose action b or c, but can’t distinguish which of the other two
actions were chosen by player 1. Player 3 knows when player 1 chose action a or c, but can’t
distinguish which of the other two actions chosen by player 1. Player 3 knows when player 2 chose
action x or y, but cannot distinguish which of the other two actions were chosen by player 2. Draw
the information sets for this case.
2. Start with the original matching pennies game, where player 1 wins by matchups and player 2 wins
by mismatches; and the winning versus losing payoffs are +1 and – 1 respectively. Then decrease
the payoff from a mismatch loss for player 1 (when players 1 and 2 choose tails and heads
respectively) from–1 down to – 10, and decrease the losing payoff from a double tails loss for player
2 from –1 down to – 8; but keep all other winning or losing payoffs the same as before (at either +1
or – 1).
Draw the payoff matrix with the modified losing payoffs. Also draw two diagrams showing each
player’s pair of expected payoff lines, and showing the other player’s equilibrium decision
probability. Finally, calculate the numerical values ofthese Nash equilibriumprobabilities (p1*, p2*)
for this case. 3. A. Draw the causal tree for the weather forecasting example, and then use it to derive formulas for
the conditional probabilities p[R*fb] and p[R*sb]; where ë is the probability of histories that will
cause rain instead ofsunshine later, and á versus â are the probabilities of a falling instead ofsteady
barometer caused by rain producing versus sunshine producing histories respectively.
B. With the above formulas, show the algebra steps needed to prove the following theorem:
p[R*fb] > p[R*sb] if and only if á > â
C. Calculate a numerical example of the above theorem by calculating the numerical values of the
two conditional probabilities p[R*fb] and p[R*sb], when (ë, á, â) = (.3, .7, .2). 4. A. Draw the causal network for Newcomb’s Problem with perfect detection and use it to explain
why the following argument is valid or not; where the guaranteed money in the clear box is denoted
by L and the larger amount of money that might be in the black box is denoted M.
“Once a given amount of money is put into the black box, it is irreversibly fixed no matter
how many boxes Adam might open in the future.
“So if Eve had put nothing in the black box, and if Adam later opens both boxes, then he will
obtain $L compared to $0 if he instead opens only the black box. Likewise, if Eve had already put
$M in the black box, and if Adam later opens both boxes, then he will obtain $M + $L compared to
obtaining $M if he instead opens only the black box.”
“Thus, regardless of what Eve has already done, Adam will obtain an additional $L if he
opens both boxes instead of opening only the black box. So Adam is guaranteed to obtain more
money by opening both boxes, which therefore must be his rational decision.”photo of questions is also attached
21 pages
Eco 202 Final
The ten year period of U.S economic history chosen is 2000-2010. The economy of U.S during this decade experienced a two r ...
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The ten year period of U.S economic history chosen is 2000-2010. The economy of U.S during this decade experienced a two recessions as well as a
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After reading Special Topic 5, write a 2-page paper answering the following:Why did housing prices rise rapidly during 200 ...
Housing Collapse During 2002 to 2005 Paper
After reading Special Topic 5, write a 2-page paper answering the following:Why did housing prices rise rapidly during 2002 - 2005?Why did the mortgage default rate increase so sharply during 2006 and 2007 even before the 2008 - 2009 recession began?What did the Community Reinvestment Act have to do with the housing bubble and collapse? Cite your sources as needed. Use APA formatting.
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Most Popular Content
7 pages
20200802170037econ211 E
The following table shows the monthly wages of five different individuals. 1) Refer to the table above. What is the averag ...
20200802170037econ211 E
The following table shows the monthly wages of five different individuals. 1) Refer to the table above. What is the average monthly wage?
Northern Virginia Community College Economics Game Theory Questions
1. Draw a game tree with three players who choose in sequence; where the 1
st
player has four actions
(a, b, c, d); the ...
Northern Virginia Community College Economics Game Theory Questions
1. Draw a game tree with three players who choose in sequence; where the 1
st
player has four actions
(a, b, c, d); the 2
nd
player also has four actions (w, x, y, z); and the 3
rd
player has two actions (u, v).
Player 2 knows when player 1 chose action b or c, but can’t distinguish which of the other two
actions were chosen by player 1. Player 3 knows when player 1 chose action a or c, but can’t
distinguish which of the other two actions chosen by player 1. Player 3 knows when player 2 chose
action x or y, but cannot distinguish which of the other two actions were chosen by player 2. Draw
the information sets for this case.
2. Start with the original matching pennies game, where player 1 wins by matchups and player 2 wins
by mismatches; and the winning versus losing payoffs are +1 and – 1 respectively. Then decrease
the payoff from a mismatch loss for player 1 (when players 1 and 2 choose tails and heads
respectively) from–1 down to – 10, and decrease the losing payoff from a double tails loss for player
2 from –1 down to – 8; but keep all other winning or losing payoffs the same as before (at either +1
or – 1).
Draw the payoff matrix with the modified losing payoffs. Also draw two diagrams showing each
player’s pair of expected payoff lines, and showing the other player’s equilibrium decision
probability. Finally, calculate the numerical values ofthese Nash equilibriumprobabilities (p1*, p2*)
for this case. 3. A. Draw the causal tree for the weather forecasting example, and then use it to derive formulas for
the conditional probabilities p[R*fb] and p[R*sb]; where ë is the probability of histories that will
cause rain instead ofsunshine later, and á versus â are the probabilities of a falling instead ofsteady
barometer caused by rain producing versus sunshine producing histories respectively.
B. With the above formulas, show the algebra steps needed to prove the following theorem:
p[R*fb] > p[R*sb] if and only if á > â
C. Calculate a numerical example of the above theorem by calculating the numerical values of the
two conditional probabilities p[R*fb] and p[R*sb], when (ë, á, â) = (.3, .7, .2). 4. A. Draw the causal network for Newcomb’s Problem with perfect detection and use it to explain
why the following argument is valid or not; where the guaranteed money in the clear box is denoted
by L and the larger amount of money that might be in the black box is denoted M.
“Once a given amount of money is put into the black box, it is irreversibly fixed no matter
how many boxes Adam might open in the future.
“So if Eve had put nothing in the black box, and if Adam later opens both boxes, then he will
obtain $L compared to $0 if he instead opens only the black box. Likewise, if Eve had already put
$M in the black box, and if Adam later opens both boxes, then he will obtain $M + $L compared to
obtaining $M if he instead opens only the black box.”
“Thus, regardless of what Eve has already done, Adam will obtain an additional $L if he
opens both boxes instead of opening only the black box. So Adam is guaranteed to obtain more
money by opening both boxes, which therefore must be his rational decision.”photo of questions is also attached
21 pages
Eco 202 Final
The ten year period of U.S economic history chosen is 2000-2010. The economy of U.S during this decade experienced a two r ...
Eco 202 Final
The ten year period of U.S economic history chosen is 2000-2010. The economy of U.S during this decade experienced a two recessions as well as a
Housing Collapse During 2002 to 2005 Paper
After reading Special Topic 5, write a 2-page paper answering the following:Why did housing prices rise rapidly during 200 ...
Housing Collapse During 2002 to 2005 Paper
After reading Special Topic 5, write a 2-page paper answering the following:Why did housing prices rise rapidly during 2002 - 2005?Why did the mortgage default rate increase so sharply during 2006 and 2007 even before the 2008 - 2009 recession began?What did the Community Reinvestment Act have to do with the housing bubble and collapse? Cite your sources as needed. Use APA formatting.
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