Let’s walk through how we would price a put in a two-state pricing model. Suppose the current price of the stock is $83. The stock pays no dividends and will be worth $90 if the economy booms and $80 if the economy stalls one year from now. Suppose also that the risk-free rate is 3% per year. (6a) Suppose we have a (European) put with time to expiration of 1 year, and a strike price of $85. What is the price of this put option?

Ajustification for job training programs is that they improve worker productivity. suppose that you are asked to evaluate whether more job training makes workers more productive. however, rather than having data on individual workers, you have access to data on manufacturing firms in ohio. in particu- lar, for each firm, you have information on hours of job training per worker (training) and number of nondefective items produced per worker hour (output). (i) carefully state the ceteris paribus thought experiment underlying this policy question. (ii) does it seem likely that a firm’s decision to train its workers will be independent of worker characteristics? what are some of those measurable and unmeasurable worker characteristics? (iii) name a factor other than worker characteristics that can affect worker productivity. (iv) if you find a positive correlation between output and training, would you have convincingly established that job training makes workers more productive? explain.

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Communication comes in various forms. which of the following is considered an old form of communication? a) e-mail b) letter c) skype d) texting