The Great Depression was ended in the United States by:

1)the government running budget surpluses throughout the 1930s.
2)the government increasing the money supply throughout the 1930s.
3)central planning of the economy by the government.
4)the huge amounts of government spending required to fight WWII during the early 1940s.

The main difference between the classical model of the price level and the modern understanding of the relationship between the money supply, the price level, and real GDP is that according to classical economists, _____, while today's economists _____.

1)money is neutral in the long run; do not consider money to be neutral in the long run.
2)the adjustment of prices takes some time; expect changes in the money supply to be instantaneous.
3)did not consider money to be neutral in the long run; consider money neutral in the long run.
4)the adjustment of prices to changes in the money supply is instantaneous; argue that this adjustment process takes some time.

The main idea behind monetarism is that:

1)the aggregate output will be even greater than potential output if the money supply grows at a constant rate.
2)the aggregate price level will increase proportionally if the money supply grows at a constant rate.
3)the government budget will have a deficit if the government spending grows at a constant rate.
4)the aggregate output will grow steadily at a constant rate if the money supply also grows at a constant rate.

Exhibit:    Totals Recorded for the United States    (billions of dollars)*

Durable goods consumption $ 497

Nondurable goods consumption 1,301

Services consumption 2,342

Business fixed investment 566

Residential fixed investment 224

Inventory investment 7

Federal government purchases 449

State and local government purchases 683

Exports 640

Imports 670

Excess of GNP over GDP 7

Depreciation 658

Indirect business taxes 551

Corporate profits (includes wage accruals less disbursements) 387

Social insurance contributions 556

Net interest 442

Dividends (includes business transfer payments) 162

Government transfers to individuals 837

Personal interest income 694

Personal tax and nontax payments 645

What were the approximate ratios of consumption, investment, and government purchases to GDP?

Mr. R is a migrant worker who has been in the United States for 6 months. He has been doing odd jobs, one of which has been cleaning chicken houses. While he is waiting for official citizenship papers, he has been unable to obtain permanent housing. He went to the health department when he could not stop coughing. He has lost 10 pounds in the last month and just does not feel well. (Learning Objectives: 5 and 6)

What additional information would be helpful?

He speaks and understands very little English, and his native language is Spanish. He has been staying in the homeless shelter since his arrival, and he denies any significant health issues.

Is it significant that he has been cleaning chicken houses? Why or why not?

A tuberculin skin test was administered, and 2 days later, there is 14 mm of induration.

How would the nurse interpret his TB skin test?

How will a definitive diagnosis of TB be made?

What are some risk factors for TB?

A diagnosis of tuberculosis is confirmed in Mr. R, and he is prescribed a combination of drugs for at least 6 months. What is the rationale for multiple drugs and the length of treatment?

How has the dominate market position of large financial firms in the United States been a contributing factor to the recently experienced economic downturn? Explain.

no less than 250 words in length, make at least one reference to your text or other course materials and provide in-text citations. As you reference information from a source, be sure to provide APA citations in text and at the end of your post.

St. Paul Co. does business in the United States and New Zealand. In attempting to assess its economic exposure, it compiled the following information.

      a.   St. Paul’s U.S. sales are somewhat affected by the value of the New Zealand dollar (NZ$), because it faces competition from New Zealand exporters. It forecasts the U.S. sales based on the following three exchange rate scenarios:

                                                                               Revenue from U.S. Business

                         Exchange Rate of NZ$                              (in millions)

                                   NZ$ = $.48                                             $100

                                   NZ$ =   .50                                                105

                                   NZ$ =   .54                                                110

      b.   Its New Zealand dollar revenues on sales to New Zealand invoiced in New Zealand dollars are expected to be NZ$600 million.

      c.   Its anticipated cost of materials is estimated at $200 million from the purchase of U.S. materials and NZ$100 million from the purchase of New Zealand materials.

      d.   Fixed operating expenses are estimated at $30 million.

Variable operating expenses are estimated at 20 percent of total sales (after including New Zealand sales, translated to a dollar amount).

      f.    Interest expense is estimated at $20 million on existing U.S. loans, and the company has no existing New Zealand loans.

      Forecast net cash flows for St. Paul Co. under each of the three exchange rate scenarios. Explain how St. Paul's projected net cash flows are affected by possible exchange rate movements. Explain how it can restruc­ture its operations to reduce the sensitivity of its net cash flows to exchange rate movements without reducing its volume of business in New Zealand.

A research center claims that less than 20% of Internet users in the United States have a wireless network in their home. In a random sample of 100 adults, 15% say “yes have a wireless network in their home”. At alpha=0.01, specifically follow and address the questions below to determine if there enough evidence to support the researcher’s claim.

1. Verify that np>=5 and nq>=5
2. Identify the claimed distribution and state Ho and Ha
3. Specify the level of significance, alpha
4. Find the critical values z, and identify the rejection region
5. Use the z-test to find the standardized test statistic z
6. Decide whether to reject the null hypothesis
7. Interpret the decision in the context of the original claim

After years of rapid growth, illegal immigration into the United States has declined because of the recent recession and better economic conditions in the countries south of the border. But California still accounts roughly 20% of the nation undocumented immigrants. If you take a random sample of 50 undocumented immigrants, what is the probability that more than a quarter (25%) of them live in California? (HINT: Large sample proportion – use Normal approximation.) Define p = proportion of all undocumented immigrants who live in California.

A. Is normal approximation appropriate? Why?

B. Mean of the sample proportion is?

C. Standard deviation of the sample proportion is?

D. For , z=?

E. If you take a random sample of 50 undocumented immigrants, what is the probability that more than a quarter (25%) of them live in California?(Hint: check z table)

(5) A new virus has emerged in the Southwest United States for which no one has immunity (so re-infection is possible). The Centers for Disease Control has tasked you with modeling the outbreak assuming a population of healthy people (H) and sick people (S). Some of the sick people (S) will recover while others will perish (D). This can be modeled by the following elementary reactions:

Getting sick from virus exposure (rate constant k1): H -> S

Getting sick from contact with a sick person (rate constant k2): H + S -> 2S

Recovering from sickness (rate constant k3): S -> H

Dying from the infection (rate constant k4): S -> D

(a) Develop an equation that describes the death rate of the population from the virus.

(b) Plot the number/concentration of health people as a function of time.

(c) Determine the concentration of health people for which humanity wil not be able to recover.