The following question is about markets and government policies.

a. Explain the difference between a binding and non-binding price ceiling. What is the intuition behind this?

b. If the government is trying to increase tax revenue, what should they know about the Laffer Curve?

c. Draw and fully explain the welfare impacts of a per unit tax on the seller.

d. If the government wants to slow consumer spending, why might they consider using taxation? Explain your answer.

You have just been accepted to nursing school. As a requirement, you have to have a tuberculosis (TB) test as well as a hepatitis B recombinant vaccine. The nurse who administers the TB skin test explains that if significant swelling occurs around the injection site, you will need to have chest x-rays to determine if you are infected with Mycobacterium tuberculosis. On the morning of the second day after the skin test, you awake to find your arm red and swollen in an area about the size of a quarter around the site of the test. It is also tender to the touch. Now you are really worried. Could you have TB?

1. Why does the reaction to the skin test take 36-48 hours to show up? Explain. 2. If you have a tuberculosis infection, why doesn’t the whole body, or at least the respiratory tract, react when the antigen is injected during this diagnostic test?

Please explain the following bio-molecular tools in detail

DNA microarrays
western blots
immunoprecipitation
yeast two hybrid analysis
DNA footprinting

Explain the following two answers in detail: -

A. In an article that appeared in The Australian Financial Review on 26 August 2011 ('Apple could easily flounder without its founder' by Mark Ritson), it was reported:

The news that Steve Jobs has resigned from Apple and will be replaced as CEO by Tim Cook made global headlines yesterday What has followed since has been a frenzied discussion of what the loss of Jobs will mean for new product development timelines, share price issues and corporate culture. Apple's share price fell 5 per cent on the news of the resignation as questions were raised about Apple's prospects without its creative guru at the helm. But the real question for Apple as it enters its post-Jobs period is how well the brand will survive without the founder.

Required: - The fact that the share prices fell following the departure of Steve Jobs is consistent with the view that Jobs was an 'asset' to the company. How do you think this 'asset' would have been disclosed in the financial statements of Apple?

B. What is a contingent asset?

When should a contingent asset be disclosed within the notes to the financial statements?

If something is initially disclosed as a contingent asset, when can it subsequently be recognised as an asset within the financial statements? Briefly explain.

Q) State whether the following statements are true or false. Shortly explain your answer in 1-2 sentences.

a) The life cycle model of labor supply predicts that wage increases along the expected wage-age profile can lead to decreases in an individual’s hours worked.

b) In a model with a perfectly competitive firm, the two profit maximizingconditions VMP_E = w and MC=p are equivalent in the short run.

c) Labor Demand is more elastic in the long run than in the short run.

d) In a monopsony with a non-discriminating monopsonist the labor supply curve equals the marginal cost of labor

Please explain the influence and effect of state/sovereign immunity on international project finance guarantees? Your response should be 1000 words long and cited.

1. Explain how you see the operating system landscape changing in the next three years.
2. State your opinion, with reasons on whether you see operating systems adopting the touch screen technology as the main input option or do you think the keyboard and mouse will still rule the roost!

Your friend, Mona, sent you a paragraph below about Keto diet that she wrote. She knows that you are learning a lot about keto diet in Nutr 1100. Find 3 mistakes in the paragraph and replace them with the correct sentences.

"For meat lover, keto diet is for you. The keto diet is just about eating unlimited amounts of bacon, pork chop, and cheese. Keto also known as the ketogenic diet. It is a way of eating that allows the dieter to enter a state of ketoacidosis - your body is breaking down stored protein into molecules called ketones that are released into your bloodstream and flushed out in your urine. In order to get into this metabolic state, the diet consists of high-protein and very low fat foods. Studies have now shown that the diet can have benefits for a wide variety of different health conditions: hair loss and epilepsy."