Please explain the law of demand and law of supply with your good examples. Also explain all the changes that happen to the equilibrium price and quantity with numeric examples, when,

a. Demand curve shifts (to right and left)

b. Supply curve shifts (to right and left)

c. Both demand and supply curves move to the right at the same time

d. Both demand and supply curves move to the left at the same time

e. Explain with example the difference between change in demand and change in quantity demanded.

What is saving in open economy? Discuss what are differences of saving in closed and open economy?

Following the above balance sheet, suppose the assets of the First National Bank increases by 4%, so it becomes $520 from $500. Then which of the following must be true?

Select one:

Deposits of the Bank increases by $25.

Capital increases by 100%

Reserves doubles

Debt decreases

Which of the following is known as classical dichotomy?

Select one:

a. Monetary policy affects nominal variables but not real variables

b. Monetary policy affects real variables but not nominal variables

c. both a and b

d. neither a nor b

Which of the following is true about the neutrality of money proposed by classical economist?

Select one:

An increase in money supply affects the price level.

An increase in money supply affects Nominal wage

An increase in money supply does not affect real GDP.

All of the above

Suppose a country produces only one good: car. Let in year 2011, it produces 1000 units of car and the price of each car is $20. If the money supply in the economy is $2000.00, then which of the following is true about its nominal GDP and velocity of money?

Select one:

GDP is $2000 and velocity of money is 100

GDP is $20,000 and velocity of money is 10

GDP is $20, 0000 and velocity of money is 100

GDP is $20, 0000 and velocity of money is 1

1. What is prospective payment system? What are its effects on the cost, quality, creaming and dumping incentives on a healthcare provider?

2. In which of the following ways is cost-benefit analysis different from cost-utility/cost-effectiveness analysis for evaluating health interventions or public programs? If one of these is not a way in which they differ, briefly explain what is wrong with the statement.

a. Cost-benefit analysis compares societal costs and benefits whereas cost-utility analysis looks only at gains to specific people.

b. Cost-benefit analysis is worse than cost-utility analysis in settings where there are externalities (for example, price signals do not work).

c. Cost-benefit analysis uses present discounted values to account for long run impacts of interventions while cost-utility analysis does not.

d. Cost-benefit analysis weights the utility of being sick and of being well differently while cost utility analysis does not.

3. What is small area variation (SAV)? Find and summarize the main results of 3 recent studies on SAV (published within the last 10 years). What sort of economic inefficiency could result from SAV?

4. In Canada, the College of Physicians and Surgeons' imposes limitations on advertising by physicians. Some argue that because this regulation reduces the degree of competition in the health care market, ceteris paribus, it would reduce social welfare. Do you agree? Why?

How can you interpret a positive sign increase in net error and omission in the BOP?

How do banks become too big to fail?

What was the impact of big banks in 2008 Global Financial Crisis?

1. What is peak-load pricing? What are the differences between peak-load pricing and Ramsey pricing?
2. Is it true that peak demanders pay all capacity costs and off-peak demanders pay none but the marginal costs? Explain.

1A. Look at these particular goods and determine whether it most likely describes perfect competition or monopolistic competition

1. designer dress
2. pears
3. mystery novel
4. wheat
5. milk
6. TV show
7. microwave

1B. Consider the following scenarios and describe how the monopolistic competitor would be impacted in the short run and the long run. Will there be economic profits or economic losses? What will happen to prices after entry or exit? What will economic profits be in the long run?

1. Romantic movies are less popular with the general public.
2. More people are interested in antique furniture.
3. There is much more interest in eating healthier foods.
4. Less people are listening to rock music.
5. Less people are eating at steakhouses.
6. More people are signing up for gym memberships.

1C. Which of the following industries would be described as an oligopoly?

1. Fast-food restaurants
2. Airline industry
3. Bookstore
4. Fashion boutique

Environmentalism and Moral Concern for Animals Many believe that we are in serious trouble today as human beings plunging headlong into a major climate crisis on planet earth. Our course eText on Environmental Ethics states the following: There is no denying that the global climate is changing, as the level of carbon dioxide in the atmosphere has increased during the past century. … Coastlines are crumbling as the climate changes and sea levels rise… storms are increasing in severity … the Arctic ice cap is melting… (MacKinnon, 427). But what’s causing these troubling changes? We are. MacKinnon again: Some skeptics dispute whether the changes are entirely man-made, but the vast majority of experts believe one of the major causes of climate change is the burning of fossil fuels … (MacKinnon, 428). And the human disregard for nature also means disregard for all species of animals that depend on livable natural habitats. Entire species today are threatened with imminent extinction. Writing in 2016, MacKinnon says “687 animal species are listed as either endangered or threatened.” That number has risen drastically since 2016, leading some scientists to conclude that we are in the midst of a global mass extinction of animal species. The following video links provide, in the first, a summary of a U.N. Climate Change Report from 2019, and, in the second, an explanation of the meaning of speciesism by Dr. Richard Ryder. After watching these short videos, please respond to the discussion questions listed below. U.N. Climate Change Report: LINK (Links to an external site.) Dr. Richard Ryder on the meaning of speciesism Link (Links to an external site.) Discussion Questions (please address both 1 and 2). [1] How does the hearing of this U.N. report on the climate crisis affect you, your values, your sense of the world and its future? What human beliefs or values today will more likely prevent needed changes in our way of life, methods of production, or government policies? And what beliefs or values will more likely lead to the kind of changes needed to address the climate crisis? [2] Do you think humans are biased against animals, as moral philosophers like Peter Singer express with the term speciesism, and do you think this speciesism is comparable to other human biases such as racism and sexism, as Dr. Ryder contends in the video?

Why or why not?

As part of their job responsibilities, engineers often have to make decisions related to the financial well-being of their organization. This includes the process of downsizing: reducing their staff and subcontracting the work/jobs. Some of the reasons for downsizing include:

1. To reduce the cost of production/operations by shifting work to lower-cost wage regions (domestically or internationally).
2. To reduce the cost of production/operations by introducing advanced technologies (e.g. automation) that require fewer employees
3. To gain market share in other regions by setting up plans in new targeted markets. Some of these markets may require using local labor by creating "local" employment opportunities.
4. To lower production cost by taking advantage of incentives offered by another locale (i.e. another city, state, or country)

Discuss the ethical issues and responsibilities associated with downsizing and how they related to the engineering code of ethics.

1. The World Bank is concerned about depreciating currencies in developing countries (typically SOEs). What fiscal policy should the Bank advise large foreign countries (that have influence on the world market of loanable funds) to implement in order to reverse the exchange rate depreciation (want ↑e) of the SOEs? For simplicity, assume that the SOE is Mexico and that the large foreign country is the U.S.. The exchange rate e = US$/Peso. Answer the following questions.

a. According to the Mundell-Fleming model, what is the American fiscal policy that should be implemented to promote an appreciation of the Peso? What would happen to the world interest rate (r*) as a result of this policy choice? Explain carefully.

b. Would the change in r* create a net capital inflow (NCI) or a net capital outflow (NCO) for Mexico? Explain using the equation below.

CF = (Amount Mexico lends to U.S.) – (Amount U.S. lends to Mexico)

         (Mexico’s holdings of U.S. assets) – (U.S.’s holdings of Mexican assets)

CF =                             [A]                   -                      [B]

c. Would the NCI or NCO appreciate or depreciate the Mexican US$/Peso flexible exchange rate ( e)? Explain by determining the changes in the demand and the supply of pesos on the foreign exchange market. No graph is needed.

2. Would a protectionist trade policy be effective at increasing income under a fixed exchange rate system? Explain and illustrate your answer with an IS*- LM* graph. Make sure to explain the interaction that takes place between the arbitrageurs and the central bank.

An online shopping website considers offering its customers a mail-in rebate program. By this way, it aims to differentiate between different groups of customers. After the completion of the purchase of a wireless router, consumers can mail a rebate form to receive $ back. In other words, the net price after the rebate is p*-a for those who are interested in the mail-in-rebate. The shopping website is a monopoly with no fixed cost. Its marginal cost is $30.

The Market consists of two different consumer groups whose demand functions are as follows:

The demand of the two groups are as follows;

P1=150-2q1

P2=100-5q2

Assuming that the consumers of group 1 are not interested in rebate forms,

a. What is the optimal rebate amount, which differentiates between different consumer groups?

b. Assume that the firm has enough information about its consumers to implement a perfect price discrimination strategy. Calculate the equilibrium price and quantities and the profit if the firm uses perfect price discrimination. (Do not derive the kinked market demand curve. Simple assume that the market demand is Q=95-07P)

A company is considering the purchase of an industrial laser for $150,000. The device has a useful life of five years and a salvage (market) value of $30,000 at the end of those five years. The before-tax cash flow is estimated to be $45,000 per year. The laser would be depreciated using MACRS with a recovery period of three years. If the effective income tax is 25% and the after-tax MARR is 15%, use the PW method on an after-tax basis to determine the profitability of the laser and make a recommendation.

5. Use the federal funds market to graph each of the following scenarios (each on a separate graph) and described what is happening.

a. Suppose that the Federal Reserve decides to increase its target for the Federal Funds rate from 2% to 2.25% while also increasing the discount rate from 2.5% to 2.75%. Show how the Federal Reserve can use open market operations to do this (state what they will do with open market operations).

b. Suppose that banks increase their demand for reserves. Show how the Fed can offset this change through open market operations in order to keep the federal funds rate at the target rate. Describe the open market operations used.

c. Suppose that the Federal Reserve decides to decrease the required reserve ratio but does not want the increase to impact the target for the federal funds rate. Show how the Federal Reserve can use open market operations to accomplish this policy. Describe the open market operation being used

Suppose the demand for burrito in a small isolated town is p = 8 - 2Q. There are only two firms, A and B, and each has a marginal cost of 2. Determine the Cournot equilibrium. (hint: using the rule that Marginal Revenue’s slope is always twice as much as the slope of the residual demand curve as long as the residual demand is linear in output)

Can you please write the answer on paper so it's clearer for me reading it. The -2Q part is throwing me off.