6. How big were Aleut villages? Describe their houses. Discuss their social divisions and the role of the headman. How did a man show his rank?
7. What is special about the environment and location of the Plateau culture area? Give five key resources and defining characteristics of the Plateau.
8. According to their cosmology, who made the Nez Perce? How many villages did they have and how big were their villages? Describe their social hierarchy. Were they peaceful? What was their primary weapon?
9. Describe the typical Northwest town. Where was the best location? Describe their political organization. Discuss warfare- weapons, reasons, attack method.
10. Compare the Subarctic response to twins with that of the Kwakiutl. What was done to high-ranking Kwakiutl female babies? How did the Kwakiutl feel about the dead?

1. Suppose the U.S. economy moves out of a recession and incomes rise. What will happen to the equilibrium prices and quantities of normal goods? If price stays the same would that be equilibrium? Why or why not? What will eventually happen in the market? What happens to equilibrium price and quantity? Which quantity is affected and how do you know? Would your answer be the same if you were discussing inferior goods? Explain using supply/demand graphs.

2. Draw a graph showing the impact of students returning to campus in August on the market for pizza in a college town. If price stays the same would that be equilibrium? Why or why not? What will eventually happen in the market? What happens to equilibrium price and quantity? Which quantity is affected and how do you know? Explain using supply/demand graphs.

A town's department of public works is concerned about adverse public reaction to a sewer project that is currently in progress. Because of this, the Commissioner of Public Works has authorized a weekly survey to be conducted of town residents. Each week, a sample of 100 residents is questioned on their feelings towards the project. The results to date are shown below. Analyze this data using a P-chart with a 5% risk of Type I error (Z=3). Is the community sentiment stable?
                       
Week        1    2    3 4 5 6 7 8

Opposed 10 8 12 6 4 14 8 10

a) Determine the upper control limit (UCL) of P-chart.
b) Determine the lower control limit (UCL) of P-chart.
c) Is the community sentiment stable?

E 5-2B. Stage One ABC at a College: Assigning Costs to Activities An economics professor at Prince Town University devotes 60% of her time to teaching, 35% of her time to research and writing, and 5% of her time to service activities such as committee work and student advising. The professor teaches two semesters per year. During each semester, she teaches one section of an introductory economics course (with a maximum enrollment of 50 students) and section of a graduate economics course (with a maximum enrollment of 30 students). Including course preparation, classroom instruction, and appointments with students, each course requires and equal amount of time. The economics professor is paid $250,000 per year. Required Determine the activity cost of instruction per student in both the introductory and the graduate economics courses.

Cheese Ahead Frankie’s Homemade Cheese Shop (“Frankie’s”) signed an advertising agreement with Simmons Boards (“Owner”) for billboard advertising rights along Route 33 in the town of Hampton. Frankie’s has the right to select and display advertising copy on billboard panels numbered 10 and 12 (panel numbers correspond to designated billboard locations) for a 3-year period from Jan. 1, 20X1, to Dec. 31, 20X3. In consideration for these rights, Frankie’s agrees to pay $10,000 in year 1, $12,000 in year 2, and $13,000 in year 3. Assume that Frankie’s is required to pay the annual fee on Jan. 1 of each contract year. Assuming Frankie’s incremental borrowing rate is 5%, what are the entries Frankie should record at inception of the contract, then at the end of years 1, 2, and 3?

a) Identify the most important source(s) of market power in the following markets and briefly explain your answers:

i. Small town bars with liquor licenses

ii. Apple iPad

iii. Electronic commerce (Amazon)

iv. Brand-name prescription drugs

v. Netflix

b) Calculate the Lerner Index for the following profit maximizing firms:

i. Netflix: price = 10, marginal cost = 4

ii. Shell gasoline: elasticity = 0.6

c) Provide an example cross price elasticity for the following products and briefly justify your answer:

i. The price of Apple iPhone X and the quantity of Samsung Galaxy S10

ii. The price of BP gasoline and the quantity of Ford Expedition SUV’s

iii. The price of Starbuck’s latte’s and the quantity of Nike shoes

4.

The Chinese government’s tobacco monopoly accounts for 12% of the government’s revenue. It sells to China's 310 million smokers, 1/4 of the world's smoking population, who consume 1700 billion cigarettes a year, about 30% of global consumption

By imposing a 230% tax rate on foreign cigarettes, and by imposing import quotas and restrictions, the government limited legal foreign cigarette sales to less than 2% of total Chinese sales in the late 1990s. However, by 2003 the foreign cigarette share was only 10%. To appease the World Trade Association, China agreed to lift restrictions on the retail sale of imported cigarettes by January 2004, to reduce the tariff on cigarettes from the current 65% to 24% , and to phase out the tariff over the next two years. Thus, the state's monopoly will be eroded.   Expectations were that the price of imported cigarettes would drop by half and imported cigarettes would gain a major share of the Chinese market.   

1. In this case study discuss the impacts of the quotas, tariffs and restrictions on Entry into the Chinese market. What was the intended end result? Explain.

2. Given your answer in (a), use a graphical analysis to demonstrate and explain what occurred after the restrictions were lifted.

Is the national crime rate really going down? Some sociologists say yes! They say that the reason for the decline in crime rates in the 1980s and 1990s is demographics. It seems that the population is aging, and older people commit fewer crimes. According to the FBI and the Justice Department, 70% of all arrests are of males aged 15 to 34 years†. Suppose you are a sociologist in Rock Springs, Wyoming, and a random sample of police files showed that of 37 arrests last month, 21 were of males aged 15 to 34 years. Use a 5% level of significance to test the claim that the population proportion of such arrests in Rock Springs is different from 70%.

(a) What is the level of significance?
0.05

State the null and alternate hypotheses.

H₀: p = 0.7; H₁: p ≠ 0.7

b) What sampling distribution will you use?

The standard normal, since np > 5 and nq > 5.

What is the value of the sample test statistic? (Round your answer to two decimal places.)
-1.73

Find the P-value of the test statistic. (Round your answer to four decimal places.)

Please help me find the P value! I cannot figure it out. Can you show steps?

1. Explain the relationship among output, saving, and investment.
2. Suppose depreciation per worker is less than saving per worker. Given this situation, explain what will happen to each of the following variables over time: capital per worker, output per worker, saving per worker, and consumption per worker.
3. During the latter half of the 1990s, the U.S. saving rate decreased. Will this reduction in the saving rate have a permanent effect on the rate of growth of output per worker? Explain.
4. Graphically illustrate and explain the effects of an increase in the saving rate on the Solow growth model. In your graph, clearly label all curves and equilibria.
5. Suppose policy makers wish to increase steady state consumption per worker. Explain what must happen to the saving rate to achieve this objective.
6. Suppose the saving rate is greater than the golden rule saving rate (sG). First, explain what must happen to the saving rate in order to increase steady state consumption. Second, what are the advantages and disadvantages of this policy to increase steady state consumption.
7. Explain the difference between fully funded social security system and pay-as-you-go social security system.