Question: When Paul Samuelson switched from physics to economics, Robert Solow is said to have remarked that the average IQ in both disciplines went up. A

When Paul Samuelson switched from physics to economics, Robert Solow is said to have remarked that the average IQ in both disciplines went up. A by-stander responded that Solow’s claim must be wrong because it implies that the average IQ for academia as a whole (which is a weighted average of the average IQ levels for each discipline) must also have gone up as a result of the switch, which is clearly impossible. Was the bystander right? Explain.

Step by Step Solution

★★★★★

3.36 Rating (149 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

The overall average of the population need not change if physics was on t... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

363-B-E-M-E (3599).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!

Suppose that the average IQ score is normally distributed with a mean of 100 and a standard deviation of 16. In addition to providing the answer, state the relevant Excel commands. a. What is the...

A water contains two nitrogen species - NO3 and NO. The total nitrogen concentration of the water is 51 mg N/L. Estimate the of NO3 and NO in mg/L provided that the concentration of NO3 is twice the...

In 1963, Paul Samuelson wrote about a colleague who said that he would turm down the prospect (-$100,0.5; $200,0.5) but would accept 100 such prospects. In this problem, we will study a simplified...

When Paul Samuelson switched from physics to economics, Robert Solow is said to have remarked that the average IQ in both disciplines went up. A bystander responded that Solows claim must be wrong...

11. When Paul Samuelson switched from physics to economics, Robert Solow is said to have remarked that the average IQ in both disciplines went up. A bystander responded that Solows claim must be...

Hi. Please help with this question. Please refrain from AI, our teacher are very critical of us using it. Thank you so much!! Question 1: Famous economists. (4 marks) When Paul Samuelson switched...

I need help to answer these questions below that are based on the case "Larry Puglia and the T. Rowe Price Blue Chip Growth Fund" 1. How well has the Blue Chip Growth Fund performed in recent years?...

Below are the following questions. Kindly answer them according to the reference or you can also search. Thank you MODULE 13: The Economics of Paul Samuelson Chapter Overview: Paul Samuelson is known...

Read and write a comment Why you should ignore the siren call of market timing Few manage to profitably outwit the herd Here is a sage piece of investment advice you might not usually find in any...

Answer the questions using resources from this articl and tell me does gdp tell the right story using resources from this paper GDP Mini-Q Document A Source: Paul A. Samuelson and William D....

Jessica retired at age 65. On the date of her retirement, the balance in her traditional IRA was $218,000. Over the years, Jessica had made $21,800 of nondeductible contributions and $69,000 of...

Show that between any two different real numbers there is a rational number. Show that between any two different real numbers there are infinitely many rational numbers.

For your project this week, complete the following:Create a post answering the following questions about risks your company could encounter:How many days are you willing to wait to receive payment...

Are the industrys products a large part of customers budget?

How much economic rent will a talented chef get?

What happens in a city with too many hair stylists and too few aerobics instructors?

Does owning ones own land make a difference?

A small biotechnology research corporation has been experiencing losses for the first three years of its existence, and thus has a negative balance in retained earnings. The corporations stock price,...

Fabulous Fabricators needs to decide how to allocate space in its production facility this year. It is considering the following contracts: B a. What are the profitability indexes of the projects? b....

4 . Shares of ABC Ltd are currently traded at Rs . 1 7 7 0 . A call option with a strike price of 1 7 5 0 and expiring in 9 0 days is traded at Rs . 6 0 while a put with same strike price and...