Compare and contrast the two classic definitions of democracy – participatory and representative democracies. Discuss Aristotle’s definition of democracy. Give one example of how direct/participatory democracy works. What are the key parts of Schumpeter’s definition of democracy? Give one example of how Schumpeter's representative democracy works. Which of the two types of democracy did the majority of the Founding Fathers favor - representative/indirect or participatory/direct? Which form of democracy do you think is the best fit for the needs of the United States? Why? Explain your answer. What form of democracy are we practicing in the United States on the federal level, and in California on the state level? Which form of democracy do you favor? Why? Explain your answer

(05.01, 05.04 MC) A polling agency showed the following two statements to a random sample of 1,500 18-year-olds who are registered to vote in the United States. Healthcare statement: Improving the healthcare system should be given priority over improving the education system. Education statement: Improving the education system should be given priority over improving the healthcare system. The order in which the statements were shown was selected randomly for each person in the sample. After reading the statements, each person was asked to choose the statement that was most consistent with his or her opinion. The results are shown in the table. Percent of Sample Healthcare Statement Education Statement No Preference 39% 54% 7% Part A: Assume the conditions for inference have been met. Construct and interpret a 98% confidence interval for the proportion of all 18-year-old registered voters in the United States who would have chosen the education statement. (3 points) Part B: One of the conditions for inference that is met is that the number of those who chose the education statement and the number of those who did not choose the education statement are both greater than 10. Explain why it is necessary to satisfy this condition. (3 points) Part C: A suggestion is made to use a two-sample z-interval for a difference between proportions to investigate whether the difference in proportions between 18-year-old registered voters in the United States who would have chosen the healthcare statement and 18-year-old registered voters in the United States who would have chosen the education statement is statistically significant. Is the two-sample z-interval for a difference between proportions an appropriate procedure to investigate the difference? Justify your answer. (4 points) (10 points)

The relationship between China and the United States is often in the news. To refresh your memory, here are four facts about the Chinese economy: 1. China manages its exchange rate with the dollar. 2. China runs a trade surplus with the United States. 3. The Chinese central bank owns a large number of U.S. Treasury bills. 4. Individual Chinese residents are not free to invest their savings in foreign countries as they would like. Any movement away from a managed exchange rate would probably include a relaxation of these restrictions.

Now evaluate the following claims below with three to five sentences for each. You should also feel free to use graphs or equations where appropriate. Your goal is to discuss why the claim is true, partially true, or not true at all.

i. “Cheap imports from China come a steep cost – lost jobs and lower wages for American workers.”

ii. “Over time, the Chinese government can maintain an unfair trading relationship with the United States by pegging its currency to the dollar at a low level.”

iii. “In the long run, if China continues to peg its currency to the dollar at an abnormally low value, it may incur a significant increase in its price level.”

iv. “The only way for the United States to close its bilateral trade deficit with China is to either raise national savings in the U.S. or reduce investment in new plant and equipment in the U.S.”

v. “Because China has a fixed exchange rate, it is unable to conduct discretionary monetary policy.”

vi. “If China stopped managing the value of its currency, the value of China’s currency would strengthen relative to the dollar and U.S. interest rates would rise.

Please answer all parts!!!!!

The relationship between China and the United States is often in the news. To refresh your memory, here are four facts about the Chinese economy: 1. China manages its exchange rate with the dollar. 2. China runs a trade surplus with the United States. 3. The Chinese central bank owns a large number of U.S. Treasury bills. 4. Individual Chinese residents are not free to invest their savings in foreign countries as they would like. Any movement away from a managed exchange rate would probably include a relaxation of these restrictions.

Now evaluate the following claims below with three to five sentences for each. You should also feel free to use graphs or equations where appropriate. Your goal is to discuss why the claim is true, partially true, or not true at all.

i. “Cheap imports from China come a steep cost – lost jobs and lower wages for American workers.”

ii. “Over time, the Chinese government can maintain an unfair trading relationship with the United States by pegging its currency to the dollar at a low level.”

iii. “In the long run, if China continues to peg its currency to the dollar at an abnormally low value, it may incur a significant increase in its price level.”

iv. “The only way for the United States to close its bilateral trade deficit with China is to either raise national savings in the U.S. or reduce investment in new plant and equipment in the U.S.”

v. “Because China has a fixed exchange rate, it is unable to conduct discretionary monetary policy.”

vi. “If China stopped managing the value of its currency, the value of China’s currency would strengthen relative to the dollar and U.S. interest rates would rise.

Please answer all parts!!!!!

Apple has the highest market capitalization in the United States. In the last analysis on the stock market, Apple was worth 816.54 billion dollars. Apple is trying to compete with Samsung to make the best phones in the marketplace. They are having some difficulty justifying their high prices and are beginning to lose market share on phones. Apple decides to make an agreement with Amazon where if you have an iPhone, you will get a 10 percent discount of any items that are bought on Amazon.com. Tim Cook, the CEO of Apple raves at the sales of iPhones going through the roof! He has increased the market capitalization of the company to 972 billion dollars. It is about to become the first trillion dollar company in the history of the United States. Such a deal like this has never been seen and the Justice Department has to decide on how Apple's actions can be construed under the Sherman Act or the Robinson-Pactman Act.

1. Is this an example of a violation of any Anti-Trust laws in the United States? If so which one and why?

2. Apple and Amazon are making huge profits under this arrangement. Is this a horizontal or a vertical agreement between the companies? How would your know?

3. Let us say that because of the arrangement, Apple and Amazon grow to be the largest companies in the United States. Samsung tries to join Alibaba to rival the Apple-Amazon partnership, however the agreement does not seem to be gaining any traction. The justice department cannot figure out why this agreement works so well in the US and not in other countries. Apparently, Apple has been promoting a culture where the purchase of items off of Amazon using the iPhone and its unique software and people are gravitating towards it. Is this success by Apple and Amazon Anti-Trust? Did the companies do anything wrong? What did they do wrong and why?

Coffee Co. (the “Company”) is a global distributor of organic coffee beans and teas that is registered with the SEC in the United States. The Company’s operations are primarily located in the United States, Canada, and South America. In March 20X8, Coffee Co., looking to refocus efforts to only produce coffee products, entered into an agreement (the “Agreement”) with Nature’s Beverage, a food distributor in the United States looking to expand its international footprint (the “Transaction”). Nature’s Beverage is registered with the SEC in the United States. Pursuant to the Agreement, Coffee Co. provided a sublicense to Nature’s Beverage for the distribution rights of Coffee Co.’s South American local tea brand, Herbal T, whereby Nature’s Beverage will distribute Herbal T in South America. Under the Agreement, Coffee Co. transferred the existing customer contracts in South America to Nature’s Beverage and an at-market supply contract with the producer of Herbal T. Coffee Co. retained all of its employees and distribution capabilities. The Transaction closed on March 1, 20X8 (the “Closing”).

Additional Facts:

• Nature’s Beverage incurred certain costs to acquire the sublicense of the distribution rights and a license to use the Herbal T brand. The costs included legal, accounting, and other professional or consulting fees totaling $50,000. • Nature’s Beverage agreed to transfer to Coffee Co. $3 million for the sublicense of the distribution rights of Herbal T. • Assume both companies have adopted FASB Accounting Standards Update No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business.

Required:

1. Does the acquisition of the sublicense by Nature’s Beverage to distribute Herbal T meet the definition of a business?

1. Identify the issue (s).

2. List the alternatives in response to the issue (s) if there are any.

3. Identify and summarize the relevant professional pronouncements (ASC 805-10-55)

4. Explain how these pronouncements apply or relate

Case 18-1 Coffee Co.

Coffee Co. (the “Company”) is a global distributor of organic coffee beans and teas that is registered with the SEC in the United States. The Company’s operations are primarily located in the United States, Canada, and South America. In March 20X8, Coffee Co., looking to refocus efforts to only produce coffee products, entered into an agreement (the “Agreement”) with Nature’s Beverage, a food distributor in the United States looking to expand its international footprint (the “Transaction”). Nature’s Beverage is registered with the SEC in the United States.

Pursuant to the Agreement, Coffee Co. provided a sublicense to Nature’s Beverage for the distribution rights of Coffee Co.’s South American local tea brand, Herbal T, whereby Nature’s Beverage will distribute Herbal T in South America. Under the Agreement, Coffee Co. transferred the existing customer contracts in South America to Nature’s Beverage and an at-market supply contract with the producer of Herbal T. Coffee Co. retained all of its employees and distribution capabilities.

The Transaction closed on March 1, 20X8 (the “Closing”).

Additional Facts:

• Nature’s Beverage incurred certain costs to acquire the sublicense of the distribution rights and a license to use the Herbal T brand. The costs included legal, accounting, and other professional or consulting fees totaling $50,000.

• Nature’s Beverage agreed to transfer to Coffee Co. $3 million for the sublicense of the distribution rights of Herbal T.

• Assume both companies have adopted FASB Accounting Standards Update No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business.

  Required:

  1. Does the acquisition of the sublicense by Nature’s Beverage to distribute Herbal T meet the definition of a business?

  2. How should Nature’s Beverage account for the acquisition, including the treatment of the transaction costs? (Note that the response will be dependent on the response to Question 1.)

Case 18-1 Coffee Co. Coffee Co. (the “Company”) is a global distributor of organic coffee beans and teas that is registered with the SEC in the United States. The Company’s operations are primarily located in the United States, Canada, and South America. In March 20X8, Coffee Co., looking to refocus efforts to only produce coffee products, entered into an agreement (the “Agreement”) with Nature’s Beverage, a food distributor in the United States looking to expand its international footprint (the “Transaction”). Nature’s Beverage is registered with the SEC in the United States. Pursuant to the Agreement, Coffee Co. provided a sublicense to Nature’s Beverage for the distribution rights of Coffee Co.’s South American local tea brand, Herbal T, whereby Nature’s Beverage will distribute Herbal T in South America. Under the Agreement, Coffee Co. transferred the existing customer contracts in South America to Nature’s Beverage and an at-market supply contract with the producer of Herbal T. Coffee Co. retained all of its employees and distribution capabilities. The Transaction closed on March 1, 20X8 (the “Closing”). Additional Facts: • Nature’s Beverage incurred certain costs to acquire the sublicense of the distribution rights and a license to use the Herbal T brand. The costs included legal, accounting, and other professional or consulting fees totaling $50,000. • Nature’s Beverage agreed to transfer to Coffee Co. $3 million for the sublicense of the distribution rights of Herbal T. • Assume both companies have adopted FASB Accounting Standards Update No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business.

Required:

1. Does the acquisition of the sublicense by Nature’s Beverage to distribute Herbal T meet the definition of a business?

2. How should Nature’s Beverage account for the acquisition, including the treatment of the transaction costs? (Note that the response will be dependent on the response to Question 1.)

It is December 2019. Google has offered to buy your internet startup. The Google negotiators and you both agree on the following expectations.

After 2024, cash flows are expected to grow by 5% per year. Based on the riskiness of your industry, you think that your weighted average cost of capital is 15%.

You have bank loans worth $400,000 outstanding.

What is the horizon value, i.e., the present value of all free cash flows from 2025 to infinity expressed in 2024-dollars?

What is the total value of the company?

What is the value per share of common stock if you have 100,000 shares outstanding?

Which of the following best describes a cap-and-trade system?

he U.S. health care system tends to emphasize __________.

How is Medicaid funded?

What is the Superfund?

What is the potential for renewable energy to contribute to the U.S. energy supply in the foreseeable future?

Which statement accurately describes health care spending in the United States?