Do you think that the intervention by the government in implementing price ceilings or price floors is justified in today's time; why or why not? Are the consumers getting what they want; why do you believe this to be so? Are the suppliers able to sell what they produce; why do you think so?

Use an example from another country besides United States to justify your reasoning.

1. Consider the past debate underway in Congress with respect to funding the federal government and the political considerations involved in passing social policies through the budgeting process.
   1. Should a social or political decision such as repeal of Obamacare or defunding of Planned Parenthood be a legitimate consideration in establishing fiscal policy in the United States?
   2. Does such a decision justify any potential impact on the US GDP and the overall economy?

At the start of the Industrial Revolution, few laws protecting workers existed. Summarize a timeline (in list form) of important events in the evolution of labor laws. The timeline should include at least 5 total events/items, including events in the aftermath of the Great Depression and Great Recession. Be sure to include at least one event from a part of the world other than the United States or Europe.

1) Eliminating infections acquired during hospitalization is a health care priority. Researchers aiming to quantify the scale of this problem in the United States reported their survey finding as follows: of 11,282 patients, 452 had 1 or more healthcare-associated infections. Compute a 95% confidence interval of patients having 1 or more health-care associated infections. State the interpretation in context.

A student at a four-year college claims that average enrollment at fouryear colleges is higher than at twoyear colleges in the United States. Two surveys are conducted. Of the 35 twoyear colleges surveyed, the average enrollment was 5068 with a standard deviation of 4777. Of the 35 four-year colleges surveyed, the average enrollment was 5466 with a standard deviation of 8191. Test the claim using 0.10 as significance level.

2. What exactly is the Fed Funds Rate, and why isn’t it considered a “tool of monetary policy?

2.1Define and discuss interest rate risk. What are the two risk components of interest rate risk and how do these interact with each other?

2.2Explain how and why the U.S. forward exchange rates are related to short-term interest rates in the United States and Germany.

TYPE ANSWERS

1.

• Be able to identify and calculate different types of taxes, the tax system in the United States, and important

  tax terminology

• Be able to prepare a comprehensive budget, and know how to classify different sources of income and

  expenses

• Understand contract terminology and terminology associated with checking and banking

• Know what a bank reconciliation is, its purpose, and the basic idea of how it is done