I am stuck on approaching the answer to this question, and most of the answer that I have found online and on Chegg are do not make any sense regarding this question. What would be a good interpretation of what this question is asking regarding the GDP?
"Think about the increases since 2001 in spending for the Department of Homeland Security and the wars in Afghanistan and Iraq. These increases represent government expenditures that have increased GDP. Explain whether you think that these increases in GDP have made the typical person better off."
In: Economics
A national economy has (relatively) graduated, progressive taxation and provides income transfers to its poorest and most vulnerable members. It enacts legislation that reduces the highest marginal tax rates and limits the scope and scale of income transfers nationally and locally. Ceteris paribus, discuss: a) The effect on Aggregate Demand b) The effect on business expectations c) The effect on consumer spending in the short and the long term, and, therefore, d) The expected change to each domestic element of GDP (that is, excluding Net Exports).
In: Economics
1. Identify the correct statement.
| Aggregate demand alone determines equilibrium price and output. |
| A | Aggregate supply alone determines equilibrium price and output. |
| B | Aggregate demand shows the positive relationship between price level and real GDP. |
| C | Aggregate supply shows the negative relationship between price level and real GDP. |
| D | Aggregate demand and aggregate supply determine equilibrium
price and output. |
2. Assume that for a given year, the nominal interest rate is 9 percent while inflation rises to 11 percent indicating a 4 percent higher rate than anticipated. Which group of people is made better off by the inflation?
| Those who lend at fixed interest rates |
| A | Those who receive fixed incomes |
| B | Those who borrow at fixed interest rates |
| C | Those who save at variable interest rates |
| D | Those who borrow at variable interest rates |
3. A change in the price level in an economy will be depicted by a
movement along the AE curve and not by a leftward or rightward
movement of the curve.
A True
B False
4.Foreign aid usually consists of funds loaned at high interest
rates.
A. True
B. False
5. According to Gresham's Law:
| A. money with relatively high intrinsic value will cause inflation. |
| B | money with relatively high intrinsic value will be used for transactions. |
| C | inflation increases the intrinsic value of money. |
| D | money with relatively low intrinsic value will cause inflation. |
| money with relatively low intrinsic value will be used for transactions. |
6. Identify the correct statement.
| Investment is negatively related to the rate of government spending. |
| A | Investment is positively related to excess capacity. |
| B | Investment spending is positively related to the cost of capital goods. |
| C | Investment is positively related to the interest rate. |
| D | Investment spending in an economy is stimulated by new production technology. |
| 7. |
Since the U.S. is organized as a market economy, the government
sector does not play any role in economic activity. 8. Foreign aid that flows from one country to another is called multilateral aid. A. True 9.GDP per capita is one way to measure an economy's growth. China and India began to progress when they allowed private ownership, around ____. Since then, there has been steady, strong growth in these economies.
|
12. If an increase in the price of good X causes the demand curve for product Y to shift to the right, then X and Y are most likely to be which of the following?
| Turkey and chicken |
| A. | DVD players and DVDs |
| B. | Shoes and laces |
| C. | Tennis balls and tennis rackets |
| D. | Knives and fork |
13.According to classical economics:
| A. real GDP is determined by aggregate demand, while the equilibrium price level is determined by aggregate supply. |
| B | both real GDP and price level are determined by aggregate demand. |
| C | both real GDP and price level are determined by aggregate supply. |
| D | real GDP is determined by aggregate supply, while the equilibrium price level is determined by aggregate demand. |
| E | price level cannot be changed as prices and wages are perfectly rigid. |
14.Compared to First World countries, developing countries would have _____.
| A. lower education levels |
| B. | a higher rate of private investment |
| C. | higher productivity rates |
| D. | a higher life expectancy |
| E. | lower birthrates |
15. A major drawback of the Keynesian approach to macroeconomic equilibrium is the assumption that the supply of goods and services in the economy always adjusts to aggregate expenditures
A. True
B. False
16. A change in the interest rate does not affect the quantity of money supplied. This means that:
| A.money supply curve is vertical. |
| B | the money supply curve is a 45 degree line drawn from the origin. |
| C | the money supply curve is kinked. |
| D | the money supply curve is horizontal. |
| E | the money supply curve is negatively sloped. |
17 Hyperinflation in developing countries is typically the result of:
| A | high income tax rates. |
| B | large trade deficits. |
| C | large government fiscal deficits. |
| D | an economic recession. |
| E |
low interest rates 18. At potential real GDP:
19. If the resources within a nation are not being fully or
efficiently utilized, it means:
|
20. Corruption reduces growth most directly because governments invest in projects with low productivity.
A. True
B. Faslse
20. All of the following would cause exports to decline, except:
| stricter government regulations on international trade. |
| a depreciation of the domestic currency. |
| a decline in foreign income. |
| a decline in foreign preferences for domestic goods. |
| foreign import quotas on domestic products. |
21. The _____ tend to have a smaller public sector relative to the total economy.
| mercantilist economies |
| market economies |
| centrally planned economies |
| socialist economies |
| autocratic economies |
22. According to the expenditures approach, gross domestic product represents the sum of consumption spending, government spending, net exports, and net investment.
| True |
|
False 23. A leading indicator:
24 A price index is a measure of the average level of prices in an economy.
|
In: Economics
Under the UCC, when a contract for the sale of goods is breached by the seller for failure to tender conforming goods to the buyer; after the buyer has had an opportunity to inspect the goods:
(1) What are the buyer's options in terms of accepting or rejecting the nonconforming goods?
(2) What opportunity must the seller be given if the time for performance has not expired?
(3) What is deemed to have occurred if the buyer fails to reject the non-conforming goods?
(4) If the buyer fails to reject the nonconforming goods what are the buyer's potential remedies?; and
(5) If the buyer sues the seller for damages what type of damages is the buyer most likely to recover?
In: Economics
Under the UCC, when a contract for the sale of goods is breached by the seller for failure to tender conforming goods to the buyer; after the buyer has had an opportunity to inspect the goods: (1) What are the buyer's options in terms of accepting or rejecting the nonconforming goods? (2) What opportunity must the seller be given if the time for performance has not expired? (3) What is deemed to have occurred if the buyer fails to reject the non-conforming goods? (4) If the buyer fails to reject the nonconforming goods what are the buyer's potential remedies?; and (5) If the buyer sues the seller for damages what type of damages is the buyer most likely to recover?
In: Operations Management
|
Mass in kg |
T20 Times for 20 cycles) |
Period (T) |
Period squared (T2) |
|
.10 |
9 |
.45 |
.2025 |
|
.20 |
12 |
.6 |
.36 |
|
.30 |
15 |
.75 |
.5625 |
|
.40 |
18 |
.9 |
.81 |
Amplitude (x0)=5 cm
Find the spring constant and value of q
In: Physics
In: Accounting
The Jarrad Corporation's management team is getting ready to prepare its master budget for one its product lines for the year 2019. The company produces caramel lollipops which are basically cooked down sugar on a stick, a diabetics nightmare along with many other sweet treats.
Budgeted sales of the lollipops for each quarter of 2019 are as follows:
1st Quarter-12,500 cases
2nd Quarter-14,000 cases
3rd Quarter-25,500 cases
4th Quarter-34,900 cases
There are 100 lollipops in a case and each sells for $200. Jarrad is budgeting a 5% sales price increase effective July 1,2019
The 4th Quarter 2018 sales have been budgeted at 32,000 cases and Jarrad wants to have an ending inventory carried over into 2019 of 2,000 cases.
At the end of 2019 they desire an ending inventory of 2,250 cases. Each quarter an additional 10% of that quarter's sales is to be produced as an ending inventoy to be carried over into the following quarter.
Materials:
Sugar costs the company $3.20 per lb. (16 ounces) Each lolllipop is 2 ounces of sugar which is melted down into caramel. The caramel is coated in 2 ounces of Belgian chocolate which costs the company $.28 per ounce. Each lollipop stick costs $.03
Direct Labor and Machine Hours:
The production of these lollipops is a highly automated one requring only 45 minutes to produce one case of lollipops. Of this 45 minutes, 30 minutes are automated and 15 minutes requires human interaction. The cost of running the machines during the year based on 4,500 hours is $8.75 per hour. Budget these hours evenly over the four quarters of 2019. The direct labor rate per hour is $11. The budgeted cost of operating the machinery is included in the manufacturing overhead budget for the year.
-What is the budgeted amount of sales revenues for 2019?
1st Quarter $.......................................
2nd Quarter $.....................................
3rd Quarter $......................................
4th Quarter $......................................
Total Budgeted Sales for 2019 $...............................................................
-How many cases of lollipops should be produced in 2019?
1st Quarter .......................................
2nd Quarter ......................................
3rd Quarter ......................................
4th Quarter ......................................
Total Production of Lollipops in 2019? .............................................
-What is the budgeted cost of the sugar which is required to produce the total number of lollipops to be produced in 2019? Ignore any beginning inventory which is not given. $.......................................
-What is the budgeted cost of the choclate which is required to produce the total number of lollipops budgeted in 2019? Ignore any beginning inventory which is not given. $........................................
-What is the budgeted cost of the lollipop sticks which are required to produce the lollipops in 2019? Ignore any beginning inventory which is not given $........................
-How many budgeted direct labor hous will be required to produce the total number of cases of lollipops for 2019? ................................. hours
-What is the budgeted direct labor cost for 2019? $..................................
Manufactoring Overhead Costs:
-What is the budgeted amount of machine_maintenance and operational costs for 2019?
$..............................................................
The other budgeted overhead costs include
Supervisors salaries are $40,000 per quarter (there are 2 plant supervisors)
Insurance on the factory-$22,700 annually
Rent on the warehouse-$2,000 per month
Quality Control Inspections-$5 per each case produced
Depreciation of factory equipment=$6,000 per year
Janitorial and Maintenance staff wages are budgeted at $15,000 per quarter
-What is the total budgeted overhead costs for 2019? $.................................
-What is the total budgeted manufacturing cost for the units to be produced in 2019? $.................................
-What is the budgeted cost per unit to be produced? $...................................
-What will be the budgeted cost of goods to be sold in 2019? $..................................
Selling and Administrative Expenses:
Sales Salaries are budgeted at $50,000 per quarter
Sales Commissions are budgeted at 7% of sales
Advertising is budgeted at 5% of sales
Officers and Administrative Salaries are budgeted at $110,000 per quarter
Rent on the corporate and sales offices is $2,700 per month
Depreciation on selling and office furniture and equipment=$4,200 per year
Other corporate expenses are budgeted at $7,500 per quarter
Other Nonoperating Income, Expenses, Gains and Losses:
Jarrad has an outstanding banl loan of $500,000 and it pays 8% interest each year with the principal coming due in 2020.
Jarrad is planning to replace some outdated equipment which has an estimated residual value of $32,000 in 2019. Another cpompany has offered to purchase it for $45,000 in March after all depreciation will have been taken.
Jarrad budgets income taxes based on its income before taxes at the rate of 35%.
-What will be the total budgeted selling and administrative expenses of 2019? $................................
-What will be the budgeted Income from Operations for the Jarrad Corporation for 2019? $..............................
-What will be the budgeted Non-Operating Income for Jarrad Corporation for 2019? $.........................................
-What will be the budgeted Income after taxes for the Jarrad Corporation for 2019? $..........................................
In: Accounting
Common practice in chemical processing plants is to clad pipe insulation with a durable, thick aluminum foil. The functions of the foil are to confine the batt insulation and to reduce heat transfer by radiation to the surroundings. Because of the presence of chlorine (at chlorine or seaside plants), the aluminum foil surface, which is initially bright, becomes etched with in-service time. Typically, the emissivity might change from 0.12 at installation to 0.36 with extended service. For a 300-mm-diameter foil-covered pipe whose surface temperature is 90 C, will this increase in emissivity due to degradation of the foil finish have a significant effect on heat loss from the pipe? Consider two cases with surroundings and ambient air at 25 C: (a) quiescent air and (b) a cross-wind velocity of 10 m/s.
In: Mechanical Engineering
A golf organization wants to test how durable two brands of golf balls are, Champ and Master. 10 balls of each brand are randomly selected and tested to see how many drives are needed before the ball cracks or breaks.Table listed with data below. alpha=.05 ? = .05 What can you conclude?
Champ Master
270 364
334 302
301 350
307 348
298 396
290 325
315 342
305 359
325 327
331 355
In: Statistics and Probability