Large Sample Proportion Problem.  Surveys were conducted in multiple countries and respondents were asked if they felt political news was reported fairly. The data for the United States is that out of 1,000 sampled, 470 indicated yes, they felt political news was reported fairly. Suppose we want to determine if the proportion for the U.S. is below .50.

What is the standard error for this hypothesis test?

Group of answer choices

Cannot be determined from the information given.

SQRT((.5*.5)/1000)

SQRT((.47*.53)/1000

.4991/SQRT(1,000)

Consider the following information, which are estimates as of mid-2019.

Consider the following information, which are estimates as of mid-2019.

For each country listed above, calculate r and how many people there will be in mid-2020 if population growth is exponential. Use the differential equation (dN/dt) for exponential population growth that was presented in Lecture.

1. What role did consumer demand play in the development and adoption of artificial refrigeration in the United States?
2. Be able to discuss some of the important changes in American brewing over the course of the nineteenth century (1800s CE).
3. How did underground beer storage work, and when did brewers rely most heavily on this method?
4. What were some of the important challenges and limitations of underground storage?
5. How did icehouses help to solve the problem of beer storage for brewers?
6. How did the rise of railroads help to create big brewing?

Given the domestic market for Kiwi fruit,

illustrate the change in either supply or demand of the following scenarios.

Explain what caused determinant caused the shift and the resulting change to equilibrium price and quantity:

a. A storm wipes out the local Kiwi fruit industry.

b. New Zealand doubles the Kiwi fruit sent to this country.

c. The surgeon general declares Kiwi fruit to be cancerous.

d. The disposable income of Americans rises by 6%.

e. The United States imposes a 25% tariff on New Zealand Kiwi fruit.

4. Illustrate how each of the following affects the price and quantity of euro (€) in the U.S. using an exchange rate supply and demand diagram. Assume that the exchange rate in terms of US dollars per euro, and that the currency regime is floating. Identify if the euro is appreciating or depreciating.

a. BMW (a German –manufactured automobile) sales in the US decline.

b. More Germans go to the US during the holidays.

c. U.S. interest rates increase and American investors decide to forego investing euro-denominated assets in favor of investing in the United States.

You are the international manager of a US business that has just invented a revolutionary AI equipment, but costs only half as much to current manufacture. Your CEO has asked you to decide how to expand into the China or India market. Your options are: (i) to direct export from the United States (ii) to license a China or India firm to manufacture (iii) to set up a wholly owned subsidiary in India or China with foreign direct investment. Evaluate the pros and cons of each alternative and suggest a course of action to your CEO

To be considered a wholesaler a business must operate from a fixed location where it receives product from suppliers and ships to its customers.

The Benning Flower Company operates in the western part of the United States. Its main business is supplying and maintaining floral displays in grocery stores. Every other day a Benning employee visits a store and adds new products while removing older product. Benning is MOST LIKELY a:

1. Describe how is the CPI derived and what purpose does it serve?

2. What is the difference between the CPI and the GDP Deflator?

4. How does inflation affect society and who are the losers and gainers from inflation?

5. Define demand pull inflation and cost push inflation.

6. The salary of the president of the United States in 2000 was $400,000. In 1940, the president's salary was $75,000. If the Consumer Price Index was 8.1 in 1940 and 100 in 2000, the 1940 presidential salary measured in terms of the purchasing power of the dollar in 2000 would be:

The Financial Crisis, Long-Run Aggregate Supply and Inflation

In the fall of 2008, the financial markets suffered a major crisis that led to a large decrease in the willingness of banks and other financial institutions to lend either to each other or to consumers and businesses. Much of the investment in capital in the United States is financed by borrowing. Many businesses were unable to borrow. During this time period, the capital stock decreased as worn-out capital was not replaced.

What would the effect on the rate of inflation be if aggregate demand recovers to its prerecession level?