Suppose an individual is impatient and finds it difficult to delay gratification, . a,This person has...
Suppose an individual is impatient and finds it difficult to delay gratification,
. a,This person has a relatively high discount rate ... b,This person has a relatively low discount rate, c. These character traits are unrelated to the discount rate.
Homework Answers
The individual is impatient and finds it difficult to delay gratification
This person has a relatively high discount rate
option(A)
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Suppose an individual is impatient and finds it difficult to
delay gratification,
. a,This person has...
Suppose that person1 has a discount rate of (a) Suppose that Person 1 has a discount...
Suppose that person1 has a discount rate of
(a) Suppose that Person 1 has a discount rate of 0.05, while Person 2 has a discount rate of 0.07. Each person is considering making an investment today, that will yield income in the future. Suppose that Person 1 decides to make this investment. We should also expect person 2 to make this investment.
a) Suppose one injured individual is selected at random. What is the probability that this person...
a) Suppose one injured
individual is selected at random. What is the probability that this
person is 75-or-over and
experienced a dog-related injury?
b) Suppose one injured individual is selected at random. What is
the probability that this person is between 55 and
74 years old?
c) Suppose one injured individual is selected at random. What is
the probability that this individual is at least 55
years old (i.e., is 55 years old or older)?
d) Suppose one injured person...
Suppose an individual has 40 hours to work. Suppose also the individual has a net wealth...
Suppose an individual has 40 hours to work. Suppose also the individual has a net wealth outside the labor market of 100$. Suppose the wage rate is equal to 20 $ per hour. Graph the budget constraint. Suppose the marginal rate of substitution between consumption (C) and leisure (l) is equal to h−l 100c . What will a utility maximizing consumer choice between labor and consumption be? Suppose the wage falls to 5 2 $ per hour. What is the...
An individual has $50 to spend, and can buy a maximum of 45 litres of gas...
An individual has $50 to spend, and can buy a maximum of 45 litres of gas or 35 bottles of beer. a. Sketch the budget constraint and choice set. b. What are the prices of gas and beer? c. Instead, given the same prices as above, suppose anyone buying gas receives a 10% discount for all purchases over 20 litres. How many bottles of beer can a person buying 20 litres of gas purchase? How much gas can someone buying...
An individual has $50 to spend, and can buy a maximum of 45 litres of gas...
An individual has $50 to spend, and can buy a maximum of 45 litres of gas or 35 bottles of beer. a. Sketch the budget constraint and choice set. b. What are the prices of gas and beer? c. Instead, given the same prices as above, suppose anyone buying gas receives a 10% discount for all purchases over 20 litres. How many bottles of beer can a person buying 20 litres of gas purchase? How much gas can someone buying...
27. Which of the following combinations would you expect to find in an individual who has...
27. Which of the following combinations would you expect to find in an individual who has been diagnosed with AIDS? (A) CD4 cell count below 200 and high viral load. (B) Low levels of HIV antibodies and low viral load. (C) Low viral load and high levels of Gp 120 antibodies. (D) High CD4 count and high viral load. 28. What is the role of HIV viral integrase? (A) It must cut the host DNA to splice in viral DNA....
2. Suppose an individual has the genotype B/b:D/D:Ele:G/g. a. What are the odds that the individual...
2. Suppose an individual has the genotype B/b:D/D:Ele:G/g. a. What are the odds that the individual will produce a gamete with the genotype be? Ignore the D and G genes for now.) b. Now considering all four genes, how many different unique kinds of gametes could this individual produce? c. What are the odds that the individual will produce a gamete with the genotype B:D:e G?
5. A medical test for malaria is subject to some error. Given a person who has...
5. A medical test for malaria is subject to some error. Given a person who has malaria, the probability that the test will fail to reveal the malaria is 0.06. Given a person who does not have malaria, the test will correctly identify that the person does not have malaria with probability 0.91. (a) If someone has malaria, what is the probability that the test will identify that person as having malaria? (b) Suppose three unrelated individuals who are not...
Suppose that a given individual in a population has a survival time which is exponential with...
Suppose that a given individual in a population has a survival time which is exponential with a hazard rate 0. Each individual's hazard rate θ s potentially different and is sampled from a gamma distribution with density function TCB) Let X be the life length of a randomly chosen member of this popula- tion. (a) Find the survival function of X. (Hint: Find S(x) Ele" .) (b) Find the hazard rate of X. What is the shape of the hazard...
Problem 2 Suppose that each 100 risk-neutral person faces a risk of $10,000 loss with probability...
Problem 2 Suppose that each 100 risk-neutral person faces a risk of $10,000 loss with probability 0.01. The risks are independent, so the probability that any person incurs a loss does not affect others' probability. Each has an initial investment of $40,000. (a) Calculate the expected loss that each person faces. (b) Calculate the expected wealth without insurance. (c) Suppose each of the 100 individual purchases $1 into mutual insurance. The loss is fully covered with insurance Calculate the expected...
Suppose that person1 has a discount rate of
(a) Suppose that Person 1 has a discount rate of 0.05, while Person 2 has a discount rate of 0.07. Each person is considering making an investment today, that will yield income in the future. Suppose that Person 1 decides to make this investment. We should also expect person 2 to make this investment.
a) Suppose one injured
individual is selected at random. What is the probability that this
person is 75-or-over and
experienced a dog-related injury?
b) Suppose one injured individual is selected at random. What is
the probability that this person is between 55 and
74 years old?
c) Suppose one injured individual is selected at random. What is
the probability that this individual is at least 55
years old (i.e., is 55 years old or older)?
d) Suppose one injured person...
An individual has $50 to spend, and can buy a maximum of 45 litres of gas or 35 bottles of beer. a. Sketch the budget constraint and choice set. b. What are the prices of gas and beer? c. Instead, given the same prices as above, suppose anyone buying gas receives a 10% discount for all purchases over 20 litres. How many bottles of beer can a person buying 20 litres of gas purchase? How much gas can someone buying...
27. Which of the following combinations would you expect to find in an individual who has been diagnosed with AIDS? (A) CD4 cell count below 200 and high viral load. (B) Low levels of HIV antibodies and low viral load. (C) Low viral load and high levels of Gp 120 antibodies. (D) High CD4 count and high viral load. 28. What is the role of HIV viral integrase? (A) It must cut the host DNA to splice in viral DNA....
2. Suppose an individual has the genotype B/b:D/D:Ele:G/g. a. What are the odds that the individual will produce a gamete with the genotype be? Ignore the D and G genes for now.) b. Now considering all four genes, how many different unique kinds of gametes could this individual produce? c. What are the odds that the individual will produce a gamete with the genotype B:D:e G?
Suppose that a given individual in a population has a survival time which is exponential with a hazard rate 0. Each individual's hazard rate θ s potentially different and is sampled from a gamma distribution with density function TCB) Let X be the life length of a randomly chosen member of this popula- tion. (a) Find the survival function of X. (Hint: Find S(x) Ele" .) (b) Find the hazard rate of X. What is the shape of the hazard...
Problem 2 Suppose that each 100 risk-neutral person faces a risk of $10,000 loss with probability 0.01. The risks are independent, so the probability that any person incurs a loss does not affect others' probability. Each has an initial investment of $40,000. (a) Calculate the expected loss that each person faces. (b) Calculate the expected wealth without insurance. (c) Suppose each of the 100 individual purchases $1 into mutual insurance. The loss is fully covered with insurance Calculate the expected...
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