The idea behind Nixon's decision to "freeze" wages and prices was inflation affects wages and prices, so freezing those would halt inflation.
When the total demand (AD) exceeds the total supply (AS) of a given item or service in the market, this is referred to as inflation.
As a result, the cost of those goods and services rises. This occurs as a result of people having money, either through high government spending or from high incomes or low loan rates.
Nixon thus decides to maintain a specific level of prices and salaries in order to freeze employment. As a result, the population's purchasing power will be constrained, and prices will eventually balance out.
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Answer:
(a) Given that a chip passes the test, what is the probability that it is a good chip?
LetB = {the chip is good}
A={the chip passes the cheap test}.
Bc={the chip is bad}
Ac={the chip fails the cheap test}
P(A | B) = 1
P(A | B
c
) = 0.075
= 
= 
≈ 0.9751
(b) If the company sells all chips that pass the cheaper test, what percentage of sold chips will be bad?
P(B
c |A) = 1 − P(B | A) = 1 - 0.9751 = 0.0249
B) did not acquire the instrument in good faith
Explanation:
Southern and Eastern Europe became the major spring regions. Some of the big driving forces is the World War I, primarily in Europe, which enabled immigrants to join the United States. The economic conditions were another significant consideration as the prospects for jobs in the war declined.
As reported, when migrants went to the USA, there were many possibilities for jobs. The American automotive industry celebrated of the first World War. War-time goods have been pursued, and America has become one of Britain's major food producers, and has provided refugees a wide range of jobs.
