In the Accompanying Graphs, the Pre-Migration Labor Force in Country

question 18

Multiple Choice

In the accompanying graphs, the pre-migration labor force in country A is 0d and in country B it is 0u. What result would indicate that worldwide output is increased as a result of migration?

• A)Area aced> area qsut.
• B)Wage rates have increased in both countries.
• C)Domestic output has increased in both countries.
• D)The share of domestic output paid as business income increases in both countries.

Contrast the hypergeometric, binomial, and Poisson distributions.

Derive and interpret the mean, variance, and other probabilities from given hypergeometric distribution scenarios.

Recognize scenarios where hypergeometric distribution is applicable through practical examples.

Understand and apply Poisson distribution and its properties.

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Definitions:

Book Value

The net value of a company's assets found on its balance sheet, and is calculated by subtracting liabilities from the total assets.

Machinery

Equipment, especially those powered by fuel or electricity, used in the industrial production or manufacturing process.

Accumulated Depreciation

The overall depreciation cost that has been allocated to a fixed asset over the span of its useful life.

Patent Rights

Legal protections granted to inventors, giving them exclusive rights to produce, use, and sell their inventions for a limited period.