Chief Justice Marshall's doctrine of national supremacy and Chief Justice Taney's doctrine of dual federalism are being played out in the national and State governments' responses to the Covid-19 "pandemic". For example, C. J. Taney's dual federalism is grouned in the States' police powers, defined as the power to govern men and things . . . to promote the health, safety, morals and general welfare of their respective inhabitantants. In US v. Lopez (1995) Chief Justice Rehnquist cautioned about conferring on the national government general police powers. Drawing from the relevant cases covered in class, (a) what was the basis of C. J. Rehnquist concern and (b) have recent events enhanced or degraded American federalism? Substantiate your answers.

The label on a “two liter” bottle of soft drink indicates that it is supposed to contain 2000 milliliters (ml). However, there is some variation due to the production process; this process is known to be normally distributed with a standard deviation of 20 ml. A government inspector wants to ensure that the public is not cheated by purchasing underfilled containers. A random sample of nine containers was selected; the measurement results were: 1995, 1960, 2005, 2008, 1997, 1992, 1986, 1972 and 2013 ml. Is this convincing evidence (using a 5% significance level, α = .05) that the containers are underfilled?

a) State (using symbols) the null and alternative hypotheses.

b) Identify and calculate the test statistic.

c) Determine the P-value.

d) Reach a decision and present the conclusion.

What was the relationship between Housing and Urban Development (HUD) and Fannie Mae and Freddie Mac?

According to Thomas Sowell, was the housing boom and bust a national phenomenon?

What Act in 1977 directed federal financial supervisory agencies to encourage private institutions to meet the credit needs of the communities they served?

What act in 1995 eliminated regulatory discretion and established “objective” standards and show that they the required loans to LMI borrowers?

After HUD brought legal action against banks with lower approval rates for minorities than whites, what three standards did banks loosen?

What happened after the Office of Federal Housing Enterprise Oversight turned up accounting irregularities at Fannie Mae?

• The following table summarizes the annual returns you would have made on two companies – Scientific Atlanta, a satellite and date equipment manufacturer and AT&T, the telecom giant from 1988 to 1998.

• A) Estimate the average and standard deviation in annual returns in each company.
• B) Estimate the covariance and correlation in returns between the two companies
• C) Estimate the variance of a portfolio composed, in equal parts, of the two investments.

The following data represent the amount of money and invenstor has in an investment account each year for 10 years.

a. Let x=number of years since 1994 and find an exponential regression model of the form y=ab* for this data set, where y is the amount in the account x years since 1994.

_________________________

b. If the investor plans on retiring in 2021, what will be the predicted value of this accoutn at that time?

________________________________

c. When will the account be worth $50,000?

d. Make a graph of the scatterplot and exponential model below.

Year value of account

1994 $10,000

1995 $10,573

1996 $ 11,260

1997 $11,733

1998 $12,424

1999 $13,269

2000 $13,698

2001 $14,823

2002 $15,297

2003 $16,539

1. In a header file Record.h, create a Record structure that contains the following information: recordID, firstName, lastName, startYear. recordID is an integer.

2. In testRecord, first create a record (record1) using “normal” pointers. Set the values to 1001, Fred, Flintstone, 1995

3. In testRecord, create a new record (record2) using a unique smart pointer. Set the values to 1002, Barney, Rubble, 2000

4. Create a function (or functions) that will print the records to any output stream. Since the print function does not need to change the record, pass record2 as a constant. Print the records.

5. Create a function (or functions) that will set the year value of an already created record1 or record2 to the current value minus 10. Print the records.

The Bureau of Economic Analysisin the U.S. Department of Commerce reported that the mean annual income for a resident of North Carolina is $18,688 (USA Today, August 24, 1995). A researcher for the state of South Carolina wants to see if the mean annual income for a resident of South Carolina is different. A sample of 400 residents of South Carolina shows a sample mean annual income of $16,860 and the population standard deviation is assumed to known, =$14,624. Use a 0.05 level of significance, the researcher wants to test the following hypothesis.H0:= 18,688Ha:18,688a.What are three rejection rules (You have used confidence interval approach in Question 2)? b.Do three rejection rules lead to the same conclusion? What is your conclusion?

1. Diagram a purely (product market) competitive firm in long-run equilibrium. Be sure to show both the market and the representative firm. Next, on the same diagram, show what happens to the market and the representative firm if the market demand for the product falls dramatically, for instance, due to bad press. Briefly explain your conclusions.

Please show me your thought process. Please explain it as if you are telling it to someone who has no clue about economics.

Nearly five years into the recovery (the recession ended 2009) corporate profits are up 50%, the S&P is up 80%, but household income is down 3%. "Dropped, during the recovery," which is rare or unprecedented in economic theory. How does the actions of Congress (re-write the Constitution) to effects on labor and income distribution in the macro-economy?

Geoghegan, T. (2014). Only One Thing Can Save Us. New York: The New Press.