EBK ESSENTIALS OF ECONOMICS
7th Edition
ISBN: 8220102452107
Author: Mankiw
Publisher: CENGAGE L
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Chapter 17, Problem 2QR
List and describe four determinants of productivity.
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• Prismatic Cards: A prismatic card will be a card that counts as having every suit. We will denote,
e.g., a prismatic Queen card by Q*. With this notation, 2.3045 Q would be a double flush
since every card is a diamond and a heart.
• Wild Cards: A wild card counts as having every suit and every denomination. Denote wild cards with
a W; if there are multiple, we will denote them W₁, W2, etc. With this notation, W2 20.30054
would be both a three-of-a-kind (three 2's) and a flush (5 diamonds). If we add multiple wild cards
to the deck, they count as distinct cards, so that (e.g.) the following two hands count as "different
hands" when counting:
W15 5Q and W255◊♡♡♣♣
In addition,
1. Let's start with the unmodified double-suited deck.
(a) Call a hand a flush house if it is a flush and a full house, i.e. if all cards share a suit and there
are 3 cards of one denomination and two of another. For example, 550.
house. How many different flush house hands are there?
2. Suppose we add one wild…
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- not use ai pleasearrow_forwardnot use ai pleasearrow_forwardIn this question, you will test relative purchasing parity (PPP) using the data. Use yearly data from FRED website from 1971 to 2020: (i) The Canadian Dollars to U.S. Dollar Spot Exchange Rate (ER) (ii) Consumer price index for Canada (CAN_CPI), and (iii) Consumer price index for the US (US_CPI). Inflation is measured by the consumer price index (CPI). The relative PPP equation is: AE CAN$/US$ ECAN$/US$ = π CAN - πUS Submit the Excel sheet that you worked on. 1. First, compute the percentage change in the exchange rate (left-hand side of the equation). Caculate the variable for each year from 1972 to 2020 in Column E (named Change_ER) of the Excel sheet. For example, for 1972, compute E3: (B3-B2)/B2). ER1972 ER1971 ER 1971 (in Excel, the formula in cellarrow_forward
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