1) Calculate the expected fine based on the given values and determine if speeding would be economically worth it.
You are driving from Largo High School to the University of Florida. The entire route is 150 mi and you
can average 60mph at the speed limit. If you were to average 10mph over the speed limit, would it be
economically beneficial? You will pass one police officer and she will pull everyone over that is doing 10
mph over, but is only doing radar 50% of the time. She is a very understanding cop and is only 25% likely
to give you a ticket. A high fine will run you $300, but the low will be $100. Your time is worth $15/hr.

At a young age, ebony's coaches were confident she had the potential to be a world-class swimmer with a future coaching career. after four years on an athletic scholarship and olympic experience under her belt, she chose a different path. with her savings and personal connections, she rented a corner building in a bustling san francisco neighborhood and pursued her dream: a surf shop business. ebony's dream was rooted in which basic right of free-market capitalism?

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level

What happens when a bank is required to hold more money in reserve?