Were the Bush Tax Cuts a Good Idea?

From the reading this week, you will learn about the basic model that we use to explain the entire economy, aggregate demand-aggregate supply. All of the macroeconomic material is related to this model: GDP, inflation, unemployment. In chapter 12, you’ll read about how fiscal policy can affect the economy. The fiscal policy tools that you read about in this chapter are meant to adjust the aggregate demand side of the economy. But there is a debate about whether this is the side of the market that should be targeted. Some economists and policymakers would rather focus on policies that shift the aggregate supply (so-called “supply-side policies”).

1) Explain one of the reasons why policymakers usually focus on demand-side policies to achieve their macroeconomic goals as opposed to the supply-side ones. Be sure to include concepts from the chapters. Provide one example of a demand-side policy and explain why and how it causes the aggregate demand to shift.

2) Similarly for the supply side, you need to explain one of the reasons why some may prefer to use supply-side policies.

3) Provide one example of a supply-side policy and explain why and how it causes the aggregate supply to shift.

In both cases, make certain that you are giving reasons supporting the use of these policies as opposed to giving reasons against the opposite policies.

1) Both supply-side and demand-side policies have impacts on inflation and unemployment. Explain what these impacts are for each type of policy (i.e. demand-side and supply-side policy).

2) Knowing these impacts and the reasons you explained above, which type of policy do you favor and why? Support your opinion with economic reasoning and concepts. If you use any other sources, be sure to cite them within the text as well as provide a bibliographical citation at the end.

AX Development Ltd purchased machinery on 1 April 2016 for $1 200 000; it had an estimated useful life of 12 years. AX Development uses the cost model and the straight-line method for depreciation. On 31 March 2018, the fair value less costs to sell for the machinery is $890 000, and the value-in-use is estimated to be $900 000. On 31 March 2019, the fair value less costs to sell for the machinery is $820 000, and the value-in-use is estimated to be $800 000.

(i) At 31 March 2018, prepare the journal entry to recognise the impairment loss. Show all workings.

(ii) Prepare the PPE section, in the Statement of Financial Position as at 31 March 2018, after recognising the impairment loss. What should your carrying amount be equal to?

(iii) What is the new annual depreciation rate for the machinery for the year ending 31 March 2019?

(iv) At 31 March 2019, prepare the journal entry to recognise the reversal of the impairment loss.

(v) Prepare the PPE section, in the Statement of Financial Position as at 31 March 2019, after the reversal of the impairment loss. What should your carrying amount be equal to?

(vi) What is the new annual depreciation rate for the machinery for the year ending 31 March 2020?

The International League of Triple-A minor league baseball consists of 14 teams organized into three divisions: North, South, and West. Suppose the following data show the average attendance for the 14 teams in the International League. Also shown are the teams' records; W denotes the number of games won, L denotes the number of games lost, and PCT is the proportion of games played that were won.

(a)

Use α = 0.05 to test for any difference in the mean attendance for the three divisions.

State the null and alternative hypotheses.

H₀: μ_N = μ_S = μ_W
H_a: Not all the population means are equal.

Find the value of the test statistic. (Round your answer to two decimal places.)

Find the p-value. (Round your answer to three decimal places.)

p-value =

State your conclusion.

Reject H₀. There is not sufficient evidence to conclude that the mean attendance values are not equal for the three divisions.

Do not reject H₀. There is sufficient evidence to conclude that the mean attendance values are not equal for the three divisions.    

Reject H₀. There is sufficient evidence to conclude that the mean attendance values are not equal for the three divisions.

Do not reject H₀. There is not sufficient evidence to conclude that the mean attendance values are not equal for the three divisions.

(b)

Use Fisher's LSD procedure to determine where the differences occur. Use α = 0.05.

Find the value of LSD for each pair of divisions. (Round your answers to two decimal places.)

North and South LSD = North and West LSD = South and West LSD =

Find the pairwise absolute difference between sample attendance means for each pair of divisions. (Round your answers to the nearest integer.)

|x_N − x_{S| =}

|x_N − x_{W| =}

|x_S − x_{W| =}

Which attendance means differ significantly? (Select all that apply.)

There is a significant difference in mean attendance between the North division and the South division. There is a significant difference in mean attendance between the North division and the West division. There is a significant difference in mean attendance between the South division and the West division. There are no significant differences

W71) I am study Excel Functions. Please answer in detail using Excel functions.

Parking Tickets – The Chicago police department claims that it issues an average of only 60 parking tickets per day. The data below, reproduced in your Excel answer workbook, show the number of parking tickets issued each day for a randomly selected period of 30 days. Assume σ =13.42.   State the null and alternate hypotheses, as well as the claim, which (hint!) is in the null hypothesis. Is there enough evidence to reject the group’s claim at α = .05?   (As with all of these exercises, use the P-value method, rounding to 4 digits.) (Hint: so since we know the population standard deviation, use the standard normal distribution z-test .) (Monday class)

              79         78         71         72         69         71              57         60

              83         36         60         74         58         86              48         59

              70         66         64         68         52         67              67

              68         73         59         83         85         34              73

You have a job that you really dislike. You have just gone to interview for a job that you really like, and the interview went well, but the result will not be known until a month later, and there is no way you can find out any more information about it before then. In the meantime, another employer offers you a job that is better than your current job, but it demands your acceptance in a week or the offer will be withdrawn forever. Clearly describe how do you can use decision tree analysis and utility theory to help you make the decision about the offer that is better than your current job but not as good as the job you really like. Your answer should be a set of instructions or a computational procedure that the decision-maker can follow with an example.

1. CLEARLY STATE A QUANTITATIVE PROCEDURE USING THE DECISION TREE ANALYSIS AND UTILITY THEORY.

Discuss the need for the audit report. Explain why and how the format of the audit report changed starting with the reports issued in 2017. Explain in detail.

Q1. Explain how industrial Ethernet can be incorporated in DCS systems.

Q2. Explain in detail the self-diagnosis concepts of a DCS system.

Explain the business process re-engineering as it relates to a COTS project. Explain in detail how business process re-engineering affects the SDLC?

Thoroughly and in detail, explain the AE approach to calculating GDP.

Explain how this relates to both the Business Cycle concept and the Production Possibilities Curve