The township of Middleton sets the speed limit on its roads by conducting a traffic study and determining the speed (to the nearest 5 miles per hour) at which 80% of the drivers travel at or below. A study was done on Brown's Dock Road that indicated drivers' speeds follow a normal distribution with a mean of 36.25 miles per hour and a variance of 6.25
a. What should the speed limit be?
b. What percent of the drivers travel below that speed?
a. 40 miles per hour
b. 93.32%
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The Phillips curve, modified with the addition of expected inflation into the analysis, is known as
A. the expectations-augmented Phillips curve. B. the long-run Phillips curve. C. the inflation-surprise theory. D. the Phillips-curve non-accelerating inflation theory of unemployment.
On May 1, Fred agreed to sell and deliver 1,000 bushels of wheat to a baker for $7 per bushel. After the market price of wheat rose to $8 per bushel, Fred breached the contract by refusing to sell a bushel of wheat at $7. He demanded that the baker pay $8.50 per bushel of wheat. If the baker can get substitute wheat at the current market price, can he get specific performance? If not, what options are available to him if he seeks damages for breach of contract from Fred? What will he recover under each option?
What will be an ideal response?
The use of electronic funds transfers makes check writing unnecessary
Indicate whether the statement is true or false
Selling and pricing are examples of ________ functions
A) exchange B) public C) consumer D) facilitating E) physical