Suppose during the Coronavirus, video and movie streaming platforms such as Netflix, Amazon Prime and Hulu are showcasing more and better content. Suppose the market for streaming content can be analyzed by the model of supply and demand. In that market, there is an increase in the number of companies providing streaming content. At the same time, there is an increase in the demand for streaming content. How would the equilibrium price and the equilibrium quantity of streaming content be affected?

1. Equilibrium quantity decreases, but equilibrium price may go up or down

2. Equilibrium price increases, but equilibrium quantity declines

3. Equilibrium quantity increases, but equilibrium price may go up or down

4. Equilibrium price is unchanged, but equilibrium quantity declines

1. If a good can be consumed by many people at once and businesses would find it difficult to set a price, what will happen in the market?
2. 1. At the equilibrium price, there will be a shortage as the quantity demanded will be larger than even the relatively large quantity supplied.
   2. At the equilibrium price, there will be a surplus as the quantity supplied will be larger than even the relatively large quantity demanded.
   3. Markets will not produce the good.
   4. Markets will produce too much of the good too quickly.

QUESTION 11

1. If Nissan, a Japanese company, had paid more attention in developing the Moco for the local Spanish market while using Nissan’s world-class technology, that would have been an example of which the following expressions used in class:

   	1.	Think local; act global
   	2.	Think global; act local
   	3.	Think macro; act micro
   	4.	Local drive Global

1 points   

QUESTION 12

1. In developing a marketing strategy, which of the following environmental factors are considered?

   	1.	Demographic
   	2.	Political and legal
   	3.	Cultural and Social
   	4.	All of the above

1 points   

QUESTION 13

1. Which of the elements below is not in the proper timeline in the marketing research process

   	1.	Collecting and analyzing data and information after developing a plan for collecting information
   	2.	Developing a research plan for collecting information after defining the research objectives
   	3.	Developing a marketing plan before information is collected
   	4.	Defining the research objectives before developing a research plan

1 points   

QUESTION 14

1. Which one of the following is not true about Secondary Data as you gather information

   	1.	Secondary exists somewhere- usually found in databases
   	2.	Secondary data is often available and at a lower cost than obtaining Primary data
   	3.	Government open-source free data may be a good source of Secondary data
   	4.	Top secret government data may be a good source of Secondary data

1 points   

QUESTION 15

1. True or False: Primary data is data that is not available elsewhere and is collected for specific purposes outlined in the marketing research process.

   True

   False

QUESTION 16

1. Big Data- the data acquired by companies and government is used for which of the following:

   	1.	Developing a marketing strategy
   	2.	Identify new product opportunities
   	3.	Positioning products
   	4.	Big data is used for all of the above

1 points   

QUESTION 17

1. In recent years, data analytics has been a popular major. Recent graduates have found that:

   	1.	Jobs for recent graduates are readily available and wages are high due to the talent gap
   	2.	Jobs are very scarce for recent graduates
   	3.	Jobs are available at low wages for recent graduates
   	4.	Jobs are available but graduates need 3-5 years of experience in big data to find one

1 points   

QUESTION 18

1. As discussed in class, S_T_P is an acronym used in marketing for:

   	1.	Sales, Product Training, and Placement
   	2.	A lubricant for gasoline engines
   	3.	Product Selection, Distributor Training, and Consumer Pricing
   	4.	Market Segmentation, Targeting, and Positioning

1 points   

QUESTION 19

1. Demographics matter. Which of the following statements is false?

   		TV show American Idol directed itself to an older audience (50+ years) and the show lost money because advertisers did not want to pay for that older population.
   		All of the above
   		Specific groups of consumers are more receptive to particular products and services than others
   		Consumer populations can be sliced into various demographic segments and products that can be developed and marketed to those demographics

1 points   

QUESTION 20

1. Which one of the following is not among the four levels of "micromarketing"?

   	1.	Segments
   	2.	Niches
   	3.	Local areas
   	4.	Processes

Assume you are the marketing manager for Oreo cookies. You can use coupons, premiums, sweepstakes or product placement to promote your product. Choose one of these methods to promote your product to ultimate consumers and another one to promote your product to retailers Explain why you chose each for your target market.

The government is considering building a major infrastructure project at a cost of €200m. The expected benefits of the project are €500m. (i) Based on the Kaldor-Hicks criteria should the government implement this project? Justify your answer. (ii) A project that satisfies the Kaldor-Hicks criteria is always guaranteed to increase aggregate welfare. True or false? Explain your answer using a numerical example. In your example use the cost and benefits of the project outlined above ( approx 160 words total)

Consider an economy that initially has a labor force of 2000 workers. Of these workers, 1900 are employed and each works 40 hours per week. 10 units of output are produced by each hour of labor. There are another 1500 adults in the economy who are not in the labor force.

A) What is the labor force participation rate?

The economy then enters a recession. Employment falls by 4%, and the number of hours per week worked by each employed worker falls by 2.5%. In addition, 0.2% of the labor force becomes discouraged at the prospect of finding a job and leaves the labor force.

B) After all of these changes, what is the new size of the labor force?

C) How many workers are unemployed now?

D) What is the new unemployment rate?

Joe owns a tree cutting company. His firm uses tree cutters (L) and equipment (K) in cutting trees. Suppose that the cost of hiring a tree cutter (w) is $10 an hour and the cost of using equipment (r) is $30 an hour. We will consider how much K and L Joe should use to cut 75 (i.e., Q = 75) trees. (Make sure that you specify intercepts, optimal amounts of K and L and isoquants clearly on graphs.)

a) Suppose that Joe’s production function is Q = 15K + (2.5)L. Marginal product of capital MPK = 15, and marginal product of labor MPL = 2.5. What are the values of the cost-minimization bundle of K and L? Draw his isoquant and isocost curves and identify the firm’s cost minimizing combination of K and L to represent the cost minimization solution on the graph.

b) Suppose that Joe’s production function is now Q = KL. Joe’s marginal product of capital and labor are MPK = L and MPL= K, respectively. What are the values of the cost-minimization bundle of K and L? Draw his isoquant and isocost curves and identify the firm’s cost minimizing combination of K and L to represent the cost minimization solution on the graph.

c) Suppose that the wage rate increases to $15 per hour. For each of the production functions identified in parts (a) and (b), identify what will happen generally to the optimal amounts of K and L. (Just identify whether K will increase, decrease or stay the same and whether L will increase, decrease or stay the same. You do not have to solve for the exact changes.) Justify your answers using graphs.

Define the following:

5. Golden rule level of capital

6. Natural rate of output

7. Steady state

8. J-curve

define the following:

9. Crawling pegs

10. Currency board

11. Speculative attack

12. Secular stagnation

Define each:

1. Quantitative easing

2. Forward guidance

3. Okun’s Law

4. NAIRU

1. Exchange rate crises

1. Explain how the central bank actually fixes the exchange rate.  What does this imply about the proximatecause of an exchange rate crisis with a fixed exchange rate? (2 pts)

2. Why do exchange rates crises tend to be more costly in emerging markets (i.e. poor/middle income countries) than in rich countries? (2 pts)

1. This question is on fixed vs. floating exchange rates.

1. Describe the major benefits and costs of fixing exchange rates. (2pts)

2. Explain how monetary policy coordination works in a fixed exchange rate system.  What is/are the major obstacle(s) to such coordination? (2 pts)