Suppose that the United States economy is in deep recession.

(a)    Imagine an aggregate demand and aggregate supply graph, would the equilibrium price level and real gross domestic product be below, above, or at full employment?

(b)   There is a debate in Congress as to whether to decrease personal income taxes by a given amount or to increase government purchases by this amount. Which of these two fiscal policies will have a larger impact on real gross domestic product? Explain

(c)    Explain how a decrease in personal income taxes will affect each of the following in the short run.

(i)             Consumption

(ii)            Real GDP and Price Level

(iii)           Imports

(iv)           Exports

(d)   Explain the mechanism by which an increase in net investment will cause each of the following to change.

(i)             Aggregate demand

(ii)            Long-run aggregate supply

The mean cost of domestic airfares in the United States rose to an all-time high of $375 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $100. Use Table 1 in Appendix B.

a. What is the probability that a domestic airfare is $540 or more (to 4 decimals)?

b. What is the probability that a domestic airfare is $265 or less (to 4 decimals)?

c. What if the probability that a domestic airfare is between $320 and $480 (to 4 decimals)?

d. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar)

USA Today reported that about 47% of the general consumer population in the United States
is loyal to the automobile manufacturer of their choice. Suppose Chevrolet did a study of a
random sample of 1006 Chevrolet owners and found that 490 said they would buy another
Chevrolet. Does this indicate that the population proportion of consumers loyal to Chevrolet is
more than 47%? Use 1% level of significance.
a. Identify the underlying distribution and state why.
b. State the null hypothesis.
c. State the alternative hypothesis.
d. Circle one: One Tail Test / Two Tail Test.
e. State the critical value for the hypothesis test.
f. Illustrate graphically the rejection region.
g. Compute the test statistic.
h. Find the p-value for the test statistic.
i. Give the significant statement for the hypothesis test: At the ________ level of significance,
there is ______________________ evidence to reject the null hypothesis.
j. State the critical value for the estimation of the confidence interval.
k. Construct a 99% confidence interval for the true proportion of consumers who are loyal to
Chevrolet.
i. Margin of error:
ii. Confidence Interval:
l. Give the confidence statement for the confidence interval: I am _________ confident that the
true ________________________ of consumers who are loyal to Chevrolet is between
____________ and ______________.

USA Today reported that about 47% of the general consumer population in the United States is loyal to the automobile manufacturer of their choice. Suppose Chevrolet did a study of a random sample of 1009 Chevrolet owners and found that 483 said they would buy another Chevrolet. Does this indicate that the population proportion of consumers loyal to Chevrolet is more than 47%? Use α = 0.01.(a) What is the level of significance?


State the null and alternate hypotheses.

H₀: p = 0.47; H₁: p ≠ 0.47H₀: p = 0.47; H₁: p > 0.47    H₀: p = 0.47; H₁: p < 0.47H₀: p > 0.47; H₁: p = 0.47

(b) What sampling distribution will you use?

The standard normal, since np < 5 and nq < 5.The Student's t, since np > 5 and nq > 5.    The standard normal, since np > 5 and nq > 5.The Student's t, since np < 5 and nq < 5.

What is the value of the sample test statistic? (Round your answer to two decimal places.)


(c) Find the P-value of the test statistic. (Round your answer to four decimal places.)

Consider the yearly data of lumber production (in billions of board feet) in the United States given as follows:

A. Perform necessary analysis to construct an appropriate model for the series and plot the forecasts for the next four years and calculate 95% forecast limits.

Please use RStudio, and also send codes and packages/libraries used, for me to use and review, Thank you!

The annual per capita consumption of fresh bananas​ (in pounds) in the United States can be approximiated by the normal​ distribution, with a mean of 8.4 pounds and a standard deviation of 4 pounds. Answer the following questions about the specified normal distribution.​ (a) What is the smallest annual per capita consumption of bananas that can be in the top 10​% of​ consumptions?​ (b) What is the largest annual per capita consumption of bananas that can be in the bottom 5​% of​ consumption?

​(a) The smallest annual per captita consumption of bananas that can be in the top 10​% of consumptions is pounds. ​(Round to one decimal place as​ needed.)

​(b) The largest annual per capita consumption of bananas that can be in the bottom 5​% of consumptions is pounds. ​(Round to one decimal place as​ needed.)

In the United States, males between the ages of 40 and 49 eat on average 105.1 g of fat every day with a standard deviation of 4.5 g ("What we eat," 2012). Assume that the amount of fat a person eats is normally distributed.

(a) State the random variable.

(b) Find the probability that a man age 40-49 in the U.S. eats more than 110 g of fat every day.

(c) Find the probability that a man age 40-49 in the U.S. eats less than 93 g of fat every day.

(d) Find the probability that a man age 40-49 in the U.S. eats between 65 g and 100 g of fat every day.

(e) If you found a man age 40-49 in the U.S. who says he eats less than 65 g of fat every day, would you believe him? Why or why not?

(f) What daily fat level do 95% of all men age 40-49 in the U.S. eat less than?

Hair color in the United States is known to be 40% blond, 40% brown, and 20% black. Miranda does a study to see if the proportions match, and her survey showed 43 people with blond hair, 32 people with brown hair, and 15 with black hair. Use a chi-square test with a level of significance α=0.05.

1. Suppose the poverty line in the United States was set according the following test: a household is poor if its income is less than $55,999 per year. Is this an absolute or relative definition of poverty?

Group of answer choices

absolute

relative

neither absolute nor relative

both absolute and relative

2. The poverty rate is

Group of answer choices

the proportion of the population above the annual income defined as poor by the federal government

capable of being equal to zero using a relative income test

the proportion of the population falling below the annual income defined as poor by the federal government

the number of people that fall below the annual income defined as poor by the federal government

3. Noncash assistance accounts for

Group of answer choices

the majority of welfare programs provided by the federal government

an equal amount of welfare programs provided by the federal government, when compared to cash assistance

a minority of welfare programs provided by the federal government

zero percent of welfare programs provided by the federal government

4. Suppose for a particular group of the population the equilibrium wage is $22 and the equilibrium number of workers employed is 60,000. Which of the following could be an impact of sudden discrimination against workers from that group of the population?

Group of answer choices

a new equilibrium number of workers employed of 80,000

a new equilibrium wage of $18

a new equilibrium number of workers employed of 180,000

a new equilibrium wage of $26

Rainier Corporation, a U.S. corporation, manufactures and sells quidgets in the United States, Europe and the Middle East. Rainier conducts its operations in Europe and the Middle East through a German GmbH, which the company elects to treat as a branch, i.e. DRE, for U.S. tax purposes. Rainier also licenses the rights to manufacture quidgets to an unrelated company in China. During the current year, Rainier paid the following foreign taxes, translated into U.S. dollars at the appropriate exchange rate:

National income taxes in Germany                                                                                 $1,500,000

City of Munich income taxes                                                                                          $   200,000

Value added tax to German government                                                              $   400,000

Payroll tax to the German government (employer’s share of

     social insurance contributions)                                                                                  $   300,000

Withholding tax on royalties received from China                                     $   100,000
Saudi Arabian tax on what is actually a royalty                                                    $     75,000

Yemen income tax                                                                                                                    $     50,000

What amount of creditable foreign taxes does Rainier incur?