Question 4

4.1 List and discuss any two (2) tools of monetary policy                                                  (10)

4.2 Explain how a government can use fiscal policy to combat a recession in a economy (10)

Unless otherwise indicated, an answer should be between 2 and 4 sentences, though you will not be penalized for writing more. Make sure to use Jim Boyce and Eban Goodstein’s arguments where applicable. You can disagree with those arguments if you like. If the meaning of any of the questions is unclear, feel free to ask me for clarification.

● How can the economy grow without an increase in pollution? (100-200 words)

● What is Political Economy?

● Why are “winners” generally able to impose costs on “losers”?

● Why might someone prefer to use “weak sustainability” instead of “strong sustainability”? (Goodstein Chapter 8)

● Why might someone prefer “strong sustainability”? (Ch. 8)

● Why is a clean environment considered a “public good”? (Ch. 3) ● What is Pareto efficiency? In the context of climate change, what are the consequences for fairness, equity, and the environment of relying on Pareto efficiency as a guide to action? (150-400 words)

Suppose that a bag of scrabble tiles contains 5 Es, 4 As, 3 Ns and 2 Bs. It is my turn and I draw 4 tiles from the bag without replacement. Assume that my draw is uniformly random. Let C be the event that I got two Es, one A and one N. (a) Compute P(C) by imagining that the tiles are drawn one by one as an ordered sample. (b) Compute P(C) by imagining that the tiles are drawn all at once as an unordered sample.

• Innovation and physical capital are 2 of the 4 factors of production. Discuss some specific ways that 1 of the following laws increased the productivity of 1 or both of these factors of production:
  • 1862 Pacific Railway Act
  • 1956 Federal Aid Highway Act
  • 1946 Federal Airport Act
• What other examples of economic concentration can you share?
• What are the risks and advantages to economic concentration?
• How has economic concentration influenced your industry?

Question 2 of 4

Use decimals if needed, not fractions. Do not round at all (without rounding, truncate final answer after three decimal places if needed).

Suppose the demand for union representation is given by R^D=240-4p and the supply of union representation is L^S=2p.

A. Graph the supply and demand for union representation. If union membership is free, the maximum number of workers who would want a union is _______ . If union fees are above $ _______ , zero workers would want to join. In equilibrium, _______ workers will choose to be represented by a union and the fee for being represented by a union will be $ _______ per member.

B. Suppose the government introduces right-to work laws such that workers may receive the benefits of union representation without paying the fees. Some workers who formerly had some willingness to pay for union representation now prefer to be "free riders" on the union services paid by others, and are no longer willing to pay so the demand curve shifts as the aggregate willingness to pay of workers decreases. Suppose the new demand curve is given by L^D=180-4p. Draw this change on your graph. We can interpret this as meaning _________ workers have withdrawn their demand for union representation. As a result, union membership costs $ _______ per worker and _________ workers will choose to be union members.

C. The size of the union ________ (increases/decreases/stays the same) as a result of right-to work laws. The union's total revenue from membership ________ (increases/decreases/stays the same) by $ ________ after the right-to-work laws are introduced.

VHDL code for a 4 to 2 priority encoder. The structural behavior must be written using gates.

A ring (4 kg, r = 2 m) rotates in a CW direction with initial angular velocity 20 s-1. A disk (8 kg, r = 2 m) rotates in a CCW direction with initial angular velocity 50 s-1. The ring and disk "collide" and eventually rotate together. Assume that positive angular momentum and angular velocity values correspond to rotation in the CCW direction.

What is the initial angular momentum Li of the ring+disk system?

What is the final angular velocity ωf of the ring+disk system?

An ascending grade of 4% and a descending grade of 2% intersect at STA 12+598 whose elevation is at 518.99m. The two grades are to be connected by a parabolic curve, 160 long. Find the elevation of the first quarter point on the tangent and the summit of the curve.

a.)Determine the elevation of the summit.

b.)Determine the station of the summit.

c.)Determine the elevation of the first quarter point on the tangent.

d.)Determine the elevation of the midpoint on the curve.

Can I get the answers to these with work shown? 2, 3, 4, and 5 only please.

1. The following two linear functions represent a market (thus one is a supply function, the other a demand function). Circle the answer closest to being correct. Approximately what will the quantity demanded be if the government controls the market price to be $1.50 (You must first find the market equilibrium price and quantity in order to see how the $1.50 relates to them)?

Q = 100 – 4.6P and Q = 75 + 6.2P

Qd=100-4.6P Qs=75+6.2P P=$1.50

Qd=Qs 100-4.6P=75+6.2P = 25=10.8P P=2.31

P=1.50 Qd=100-4.6P =100-4.6(1.5) =100-6.9 =93.1

2. There has been a change in the market (represented in 1 above). The change is represented by the following two equations. Circle the one correct conclusion that describes the market change.

Q = 85 + 6.2P and Q = 100 – 4.6P

3. Circle the function on the answer sheet that represents the marginal revenue (MR) function for this demand function: Q = 100 – 3P

4. Circle the quantity that maximizes total revenue (TR) for the marginal revenue (MR) function selected in number three (3).

5. If supply decreases and demand also increases, we can conclude that the new equilibrium:

Section 2 Business Application in the EU

4. Discuss the positive and negative effects on consumer markets of EU market Competition Policy. Please use examples to support your response.

5. B+C Motorcycles are based in the UK looking to enter the European markets for the first time. Advise the company on the research information and methods that they should undertake in order to establish which country target market is most attractive to them.

6. Discuss the impact of robots on the millennial worker and the repercussions on EU Migration.