A closed container with a volume of 2 m3 contains 4 kg of saturated liquid and saturated steam mixture water at 200 kPa pressure. Heat is given from the ambient temperature of 160⁰C until the water in the container is completely saturated. Note: T (K) = 273 + ºC
a) Find the entropy change of the system.
b) Find the heat transfer to the container.
c) Find the total entropy change.

A country is closed. It has no government sector, and its aggregate price levels and interest rates are fixed. Furthermore, the marginal propensity to consume is constant and the country's consumption function is as follows: C = 200 + 0.75YD, where YD is disposable income and C is consumption. Assume that planned investment equals 75.

1. If this country's income increased by $10,000, consumption would increase by:

2. Write the AE equation: AE = ____ + ____ YD

3. When real GDP equals $900 unplanned inventory investment is:

4. What is the income–expenditure equilibrium for this country?

5. Holding everything else constant, what is the change to the income-expenditure equilibrium if aggregate wealth decreases by $100?

6. Holding everything else constant, what is the change to the income-expenditure equilibrium if taxes increase by 100? (hint: think about how the change in taxes reduces consumption).

4. Imagine a gene promoter is located in “closed” chromatin – meaning the gene can’t be expressed – and you wish to turn on gene expression. Describe 3 changes you can make to the DNA (or proteins that interact with DNA) to turn on gene expression. (There may be more than 3 correct answers but you only need to give three.)

5. Imagine the opposite scenario to #4: a gene is currently actively expressed and you wish to turn OFF gene expression. What changes can you make to turn off this gene?

Scenario: In a closed economy without a government, the consumption expenditure equals $5,000 and the investment expenditure equals $2,000.

Refer to the scenario above. If the population of the economy is 200, the per capita national income is ________.

Group of answer choices

$35

$17

$50

$10

A hypothesis states that religious teachings, family ties, and/or social norms are the causes of economic prosperity. According to this hypothesis, ________.

geography is a fundamental cause of prosperity

culture is a proximate cause of prosperity

institutions are a fundamental cause of prosperity

culture is a fundamental cause of prosperity

Differences in the stock of physical capital between nations are an example of a(n) ________.

proximate cause of prosperity

implicit cause of prosperity

explicit cause of prosperity

fundamental cause of prosperity

Differences in the stock of human capital between nations are an example of a(n) ________.

proximate cause of prosperity

fundamental cause of prosperity

explicit cause of prosperity

implicit cause of prosperity

1. If a closed system loses 2200 J of heat (to the surrounding environment) and 800 J of work is done on the system then what was the change in the internal energy of the system.

2. An ideal gas (inside a cylinder fitted with a movable piston) is heated and slowly expands at constant pressure of 5 atm from 1.5 L to 5.5 L.  How much work is done by the gas in this process?

3. If 1,700 J of heat was added to the gas in problem 3, then how much did the internal energy of the system change?

4. What is the efficiency of an automobile engine that has a heat input of 60.0 kJ and a heat output of 25.0 kJ?

5. If the exhaust temperature of the engine in problem 5 is 250° C, then what is the intake temperature?    (The exhaust and intake temperatures are the low and high operating temperatures of the engine, T_L and T_H)

A closed, rigid tank contains water initially at 250 °F with a quality of 0.4. The tank is heated until the water reaches 290 °F. Find the initial and final pressure, in lbf/in2 . Sketch the process on P-υ and T-υ diagrams (be sure to include the vapor dome, constant temperature and pressure lines, number your states, and indicate the process direction with an arrow). Thermodynamic

You are given the following information for a closed economy in a general equilibirum context.

C^d = 5000 + 0.8Y - 80,000r , I^d = 1000 - 45,000r.

M^d/P = 0.9Y - 4000i ,  π ^e = 0.05, G = 450, Y-bar= 1000, and M = 3000.

a) Calculate the general equilibrium values of the real interest rate and the price level.

b) Explain what general equilibrium means in the IS-LM framework and how it is attained.

c) What kind of a shock has the Covid-19 pandemic crisis led to in the economies?

1. Consider the following equations that describe a closed economy with no government. Assume consumption is represented by the following: C = 200 + 0.9Y. Also assume that planned investment (I) equals 300.
   1. Obtain the saving function for this economy. What are the marginal propensity to save (MPS) and marginal propensity to consume (MPC)?
   2. Write the equation for the planned aggregate expenditure.
   3. Find the equilibrium level of output and calculate the level of consumption and saving that occurs at the equilibrium level of income.
   4. Explain the saving-investment approach to equilibrium. Recalculate the equilibrium level of output of the economy by saving-investment approach.
   5. Calculate the multiplier for this economy. Verbally explain the meaning of the calculated multiplier figure.
   6. Now, suppose the level of income is equal to 4000. What is the level of planned aggregate expenditures at this level of income? What is the value of any unplanned changes in inventories?
   7. Assume that investment increases by 25%. Using multiplier calculate the new equilibrium.

Consider a two-period model of a closed economy with government. Assume that the representative agent is endowed with ?1 and ?2 as initial endowments in period 1 and period 2 respectively, and has the utility function ? = ln ?1 + ? ln ?2, where ?1 and ?2 denote consumption and ? is the discount rate. Suppose that the government spends ?1 and ?2 in period 1 and period 2 and finances its expenditure through lump-sum taxes ?1and ?2 in periods 1 and 2 respectively.

(i) Derive the inter-temporal budget constraints of the representative agent and the government. [5]

(ii) Suppose if government borrows ? units at the interest rate of ? to finance its expenditure in period 1, derive the amount of taxes that would satisfy its inter-temporal budget constraint. Explain whether Ricardian Equivalence holds in this situation. [15]

IS-LM closed economy – SR

The Economy of North Haverbrook is described by the following agents and characteristics.

consumers C = 50 + 0.85 (Y-T)

(taxes) T = 100

(government expenditures) G = 100

(investments) I = 500 – 50r

(money supply) M = 3,000

(price levels) P = 1

(money demand) L (r,Y) = Y – 10r

(potential output) Y* = 3200

The goods and services markets in equilibrium is described as: Y = AE, where AE = C + I + G, and money market is in equilibrium when M/P = L(r,Y).

[2 points each, except for h) 4 points]

1. Find the aggregate expenditure function

2. Find the IS curve

3. Find the LM curve

4. Find the equilibrium exchange rate and output (Y, r)

5. Find the aggregate demand curve

6. Find Private savings, Public Savings and National savings

7. Do we have an expansionary gap or recessionary gap? What size?

8. If fiscal policy is used (government expenditure: G), how much +/- change will be required to close the gap?

1. If fiscal policy is not used, how will the gap close? (impact on prices and output – you can graph a diagram if it helps)