Suppose country Zee is a closed economy. Consider AD, SRAS and LRAS for the economy of Zee. Tye economy begins at price level P0, with output equal potential GDP=Y*, budget is balanced.

3.1 Suppose the government of Zee increases tax, T while keeping government expenditure G unchanged. Are we having budget deficit or surplus? What would be the effect of this action on loanable funds, real interest rate, private savings and investment, and levels of debt in country Zee?

3.2 Compare the short-run and the long-run effects of the governments policy stated in 3.1. Briefly mention what dilemma does the government face in implementing this policy.

We did an experiment : determination of entropy changes during melting of ice in a closed system. Can you write a 400 words paragraph introduction about The Second Law of Thermodynamics, entropy, entropy changes in reversible and irreversible processes, methods of calculating entropy changes in isothermal, isobaric and isochoric processes and entropy of the phase transformation.

In your own words. No copy-paste from the internet. Pleasee!!

A closed system contains an equimolar mixture of n-pentane and isopentane. a) Suppose the system is initially all liquid at 120°C and a high pressure, and the pressure is gradually reduced at a constant temperature. Estimate the pressures at which the first bubble of vapor forms and at which the last drop of liquid evaporates. Also calculate the liquid and vapor compositions (mole fractions) at those two conditions. b) Now suppose the system starts as a vapor at 1960 mm Hg and a high temperature, and the temperature is gradually reduced at constant pressure. Estimate the temperatures at which the first drop of liquid forms and at which the last bubble of vapor condenses. Also calculate the liquid and vapor compositions (mole fractions) at those two conditions. (use excel to solve question b.)

1.Suppose that the federal government has a budget deficit and the economy is closed. Using the savings–investment spending identity, explain how this affects investment spending.

2.The market for loanable funds is in equilibrium. All else equal, the federal government has eliminated taxes on interest earned from savings. Describe how this will affect the market for loanable funds, the equilibrium interest rate, and the equilibrium quantity of loanable funds.

Let (V, ||·||) be a normed space, and W a d^Norm_V,||·|| -closed vector subspace of V.

(a) Prove that a function |||·||| : V /W → R_≥0 can be consistently defined by ∀v ∈ V : |||v + W||| df= inf({||v + w|| : R_≥0 | w ∈ W}).

(b) Prove that |||·||| is a norm on V /W.

(c) Prove that if (V, ||·||) is a Banach space, then so is (V /W, |||·|||)

1. a. Explain what is meant as the neutrality of money. b. Using the closed economy model we discussed in class, demonstrate and describe how money may or not hold in the short-run and long-run after a change in monetary policy.

Let T be a connected graph and z ∈ℤ between the closed interval of 1 and the least degree of a vertex in T. Let a z - matching be a A ⊆ E s.t. there aren’t vertices with more than z edges in A. Let a z - cover be a X ⊆ E s.t. all vertices belong to at least z edges in X.

Let:

δ (T) = Max {|A| : A is a z - matching}

μ (T) = Min {|X| : X is a z - cover}

Show that δ (T) + μ (T) = zn

3. Suppose that a closed economy could be described by the following set of equations: Production Function: Y = 120K1/3 L2/3

̅̅ Factors of production: K=125; L=1000

̅̅ Government Behavior: G= 3000; T = 2500

Consumption Behavior: C = 400 + 0.8(Y –T)
Investment Behavior: I = 16500 – 1000r
a. Calculate the equilibrium level of output (Y)
b. Prove that the production function has the property of constant returns to scale.

c. Calculate the marginal product of labor (MPL)

d) Calculate the equilibrium levels of the following variables

(i) Consumption (C)

(ii) Private Savings

(iii) Public Savings

(iv) National Savings (S)

(v) real interest rate (r)

1. It has been suggested that global warming may increase the frequency of hurricanes. The table given below shows the number of major Atlantic hurricanes recorded annually before and after 1990.

Does this data is sufficient enough to claim that the number of annual hurricanes increased since 1995? Do the test at 8% significance level. To do the test, answer the following: a. Write down the null and alternative hypotheses. b. Get the excel output and answer the following: i. Fill the cell with the p-value of the test with green color ii. Fill the cell with the test statistic of the test with yellow color

The information below will be needed to answer all questions.