Suppose in a closed economy, the price is fixed and firms produce as much as demanded in the short run. The economy is originally in a general equilibrium. Now consider the case if its central bank tightens money supply (here tightening means reducing).

Please simply answer what happen to consumption (C) and national saving (S) in the short -run equilibrium, and what happen to P in the long run equilibrium.

1.         The closed end of a Boyle’s law crooks tube is shown to the right. The internal diameter of the tube is 4.0 mm. The tube is cylindrical topped by a hemisphere with the same radius as the tube. It is 3.8 cm from the mercury to the bottom of the hemisphere.

What is the volume of gas trapped in this tube in cm³?

2.         4.25 L of air was trapped in a balloon at sea level where the pressure is 1.00 atm. You throw it in your car and drive to red Lodge Montana (at 5500 ft) and then up the Beartooth Pass at 10,006 ft, (See the next page) where atmospheric pressure is 0.703 atm.

            What is the volume of the balloon on top of the pass?

3.         In actuality it is cold on top of this pass. The winter snow typically keeps the pass closed until about Memorial Day and sometimes July 4^th.

            Suppose the balloon was filled on a hot day when T = 28^oC. On top of the pass on a June day is it a cool 3^oC. (I hope you remembered you coat!)

            Considering both the pressure and temperature, what is he balloon’s volume?

Consider the FCC and HCP closed packed structures in units of ro, the radius of the close-packed atom. Explain why there are no common HCP based ionic structures with all of the octahedral sites filled or all the tetrahedral sites filled. Use Pauling’s rules and your knowledge of the ABAB and ABCABC stacking sequence to answer the question.

A physician orders mannitol (Osmitrol) for a client with a closed head injury. Which of the following should the nurse recognize as the desired response to this medication?

a). The blood pressure increases to 150/99 mmHg

b). Urinary output increases to 175 cc/hr

c). There is decrease in the level of activity

d). There is absense of fine tremors of the fingers

8. When an customer account is closed due to nonpayment, the account to be debited is:

a. Cash                                     c. Allowance for Uncollectible Accounts

b. Accounts Receivable              d. Uncollectible Accounts Expense

9. Johnson Co. uses the Aging Method to estimate uncollectible Accounts. An aging schedule shows that $60,000 in accounts are estimated to be uncollectible. The Allowance for Uncollectible Accounts already has a $5,000 credit balance. For what amount should the account be adjusted (credited)?

a. $65,000                    c. $60,000

b. $70,000                    d. $55,000

10. Jacobs Co. uses the Percentage of Credit Sales Method to estimate uncollectible accounts.  Past experience indicates that about 2% of credit sales will become uncollectible. Credit sales for the current month are $400,000.  The Allowance for Uncollectible Accounts already has a $3,000 credit balance.  For what amount should the account be adjusted (credited)?

a. $83,000                    c. $8,000

b. $5,000                      d. $11,000

The following accounts appear in the ledger of Super Inc. after the books are closed at December 31, 2019

Common Stock, $1 par value, 800,000 shares authorized, 450,000 shares

Issued $450,000

Paid-in-Capital in Excess of Par Value-Common Stock 750,000

Preferred Stock, $100 par value, 8%, 10,000 shares authorized; 400 shares

issued 350,000

Retained Earnings 250,000

Treasury Stock (10,000 common shares) 30,000

Paid-in Capital in Excess of Par Value-Preferred Stock

Note: Income statement for 2019 is $170,000. Dividends paid $25,000

Instructions: Prepare the stockholders' equity section at December 31, 2019

In a closed economy with no foreign trade, spending on consumer goods (C) is related to national income (Y) according to the table below : -

Assuming that the government is spending £30 billion per year on the infrastructure and firms are investing £30 billion

(a) What is the equilibrium level of national income (Y)?               

(b) Calculate the marginal propensity to consume domestic goods and services.                                                                                         

(c) Calculate the value of the multiplier in this case.                        

(d) Using a diagram to help your answer, explain what would happen if government spending rose by £20 billion.                                          

The following accounts appear in the ledger of Planter Inc. after the books are closed at December 31, 2003.

Common Stock, $1 par value, 500,000 shares authorized, 400,000 shares issued    $400,000

Treasury Stock (10,000 common shares)     75,000

Long term investments    50,000   

Common Stock Dividends Distributable    60,000

Paid-in Capital in Excess of Par Value—Common Stock    550,000

Preferred Stock, $100 par value, 8%, 10,000 shares authorized; 3,000 shares issued     300,000

Deferred income tax    25,000

Retained Earnings     650,000

Paid-in Capital in Excess of Par Value—Preferred Stock     310,000

Prepare the stockholders' equity section at December 31, 2003 in the classified balance sheet (IFRS format and order), assuming that retained earnings is restricted for plant expansion in the amount of $200,000.

Suppose a closed economy (economy that does not engage in international trade) is described by the following table.

a. What problem will occur in the economy in Year 2 if no policy is pursued?

b. Describe the fiscal policy tools that could be used to combat the problem. Carefully explain all steps in the link between policy and outcomes. What impact will this policy have on the various components of the aggregate expenditures? What will happen to the real GDP and Price level as a result of these policies?

c. Describe the monetary policy tools that could be used to combat the problem. Carefully explain all steps in the link between policy and outcomes. What impact will this policy have on the various components of the aggregate expenditures? What will happen to the real GDP and Price level as a result of these policies?

d. Will your answers to (b) and (c) change if this was an open economy. In what way?

Suppose a closed economy (economy that does not engage in international trade) is described by the following table.

a. What problem will occur in the economy in Year 2 if no policy is pursued?

b. Describe the fiscal policy tools that could be used to combat the problem. Carefully explain all steps in the link between policy and outcomes. What impact will this policy have on the various components of the aggregate expenditures? What will happen to the real GDP and Price level as a result of these policies?

c. Describe the monetary policy tools that could be used to combat the problem. Carefully explain all steps in the link between policy and outcomes. What impact will this policy have on the various components of the aggregate expenditures? What will happen to the real GDP and Price level as a result of these policies?

d. Will your answers to (b) and (c) change if this was an open economy. In what way?