A manager is attempting to assess the probability of a recession ending in the next six months and its impact on expected profitability. The manager believes there is a 33 percent chance the recession will end in six months and profits will return to $100 million. However, there is a 67 percent chance the recession will not end in six months, resulting in a $7 million loss. The standard deviation of profits over the next six months is:

Mr. Smith won a laptop in an online auction in which bidders could see each other's bid and price increased with every new bid

a) If Mr. Smith values the laptop at $400, find out his dominant strategy. b) Will there be a change in his optimal bidding strategy if there is an increase in the number of bidders?

Answer the following questions true (T) or false (F)

1. The labor force participation rates of women have rapidly increased since 1948. 2. The household survey asks adults about their employment status and is used to compile the monthly unemployment rate. 3. The household survey is compiled from firms who answer questions about the number of persons who are employed and on the company payroll.