Question
The present age of a father is 5 times the age of his
son. In 6 years, the father's age will be 4 times the age of his son. How many years ago was the father's age 7 times the son's age?Solution
Let the present age of the son be x years. Then the father's age is 5x years. In 6 years, the father's age will be 5x + 6 and the son's age will be x + 6. Given: 5x + 6 = 4(x + 6). 5x + 6 = 4x + 24. x = 18 years. So, the father's current age is 5 * 18 = 90 years. Let y years ago, the father's age was 7 times the son's age. 90 - y = 7(18 - y) 90 - y = 126 - 7y 6y = 36 โ y = 6 years.
According to the graph on the right, the equilibrium price in the market before the tax is imposed is
The burden of a tax that is shifted forward to consumers through higher prices is known as:
From the following, who first examined the close negative relationship between the unemployment rate and the output ratio?
ย If a Cobb-Douglas production is Q = K0.4 L0.6 the function is
Consider the matching-pennies game:
Let p= probab...
Suppose the money supply in Mexico grows more quickly than the money supply in the USA. We would expect that
The Phillips curve shows the trade-off between ----- and -----?
ย
The last periodโs forecast was 70 and demand was 60. What is the simple exponential smoothing forecast with alpha of 0.4 for the next period...
In case of full Crowding out effect what is the shape of the LM curve