Questions
QUESTION 1 (1,500 pts) Consider an economy that produces and consumes breads and automobiles. In the...

QUESTION 1 (1,500 pts)

Consider an economy that produces and consumes breads and automobiles. In the following table are data for two different years.

Good

2000

2010

Quantity

Price

Quantity

Price

Automobiles

100

$50,000

120

$60,000

Breads

500,000

$10

400,000

$20

  1. Using 2000 as the base year, compute the following statistics for each year: Nominal GDP, real GDP, the implicit price deflator for GDP, and a fixed-weight price index such as the CPI. (Present your results neatly and concisely in a table. You do not need to show your workings)
  1. How much did prices rise between 2000 and 2010? Compare the answers given by the Laspeyres and Paasche price indices. Explain the difference.
  1. Suppose you are a senator writing a bill to index Social Security and federal pensions. That is, your bill will adjust these benefits to offset changes in the cost of living. Will you use the GDP deflator or the CPI? Why?

In: Economics

Penalty Shots in World Cup Soccer A study1 of 138 penalty shots in World Cup Finals...

Penalty Shots in World Cup Soccer A study1 of 138 penalty shots in World Cup Finals games between 1982 and 1994 found that the goalkeeper correctly guessed the direction of the kick only of the time. The article notes that this is ‘‘slightly worse than random chance.” We use these data as a sample of all World Cup penalty shots ever. Test at a significance level to see whether there is evidence that the percent guessed correctly is less than . The sample size is large enough to use the normal distribution. The standard error from a randomization distribution under the null hypothesis is . 1St.John, A., ‘‘Physics of a World Cup Penalty-Kick Shootout - 2010 World Cup Penalty Kicks,” Popular Mechanics, June 14, 2010.

State the null and alternative hypotheses. Your answer should be an expression composed of symbols: =,≠,<,>,μ,μ1,μ2,p,p1,p2,0.5,ρ,p^,p^1,p^2,r.

H0:  vs Ha

In: Statistics and Probability

Consider two options for controlling global carbon emissions. Option A. For every year t, every country...

Consider two options for controlling global carbon emissions.

Option A. For every year t, every country must meet the same target for emissions per capita, based on their population in 2010. That is the restriction is Ei(t)/Pi ≤ B, where Ei(t) is total carbon emissions from country i in the year t, Pi is their 2010 population, and B is some number that is the same for all countries.

Option B. Each year t, every country must meet the same target for emissions per unit of GDP, based on their GDP (converted to a common currency) in that year. That is the restriction is Ei(t)/GDPi(t) ≤ K, where Ei(t) is total carbon emissions from country i in the year t, GDPi(t) is that country's current GDP in year t, and K is some number that is the same for all countries.

Discuss the strengths and weaknesses of these policies. Which policy do you think is better and why?

In: Economics

Use the table below to answer the following questions. Which country had the highest level of...

Use the table below to answer the following questions.

Which country had the highest level of per capita GDP in 2015?

Artinia

Plazi

Boliv

Ghala

Chi

Which country had the highest rate of growth in per capita GDP from 2010 to 2015?

Ghala

Boliv

Plazi

Artinia

Chi

Does per capita GDP in these countries appear to be converging?

Yes, the countries with the lowest levels of per capita GDP have the highest rates of growth.

Yes, the countries with the highest levels of per capita GDP have the highest rates of growth.

No, the countries with the highest levels of per capita GDP have the lowest rates of growth.

No, the countries with the lowest levels of GDP per capita have the lowest rates of growth.

Country GDP per capita 2010($) GDP per capita 2015($)
Boliv 3,664 4,592
Chi 4,102 7,519
Ghala 2,007 2,615
Artinia 10,860 15,854
Plazi 8,603 11,239

In: Economics

Analyze new monetary policy actions undertaken by the U.S. government from 2000 - 2010 by describing...

Analyze new monetary policy actions undertaken by the U.S. government from 2000 - 2010 by describing their intended effects, using macroeconomic principles to explain the actions.

•You should specifically state what the intent of the actions were - for instance, the Fed may have used expansionary policy to help expand the economy in response to a recession. Such policies could have been buying up government bonds - this puts money into the economy since the Fed is buying these bonds from a bank and then the bank can use that money in the economy. This open-market operation increases the money supply.

Then, use our macroeconomic principles and models (like the Supply and Demand of Money model, AD-AS model to show the impact of interest rates on equilibrium GDP, Phillips Curve, etc.) to explain why the action would lead to the outcome desired by the government.

please relate the answer to 2000-2010 and please add a reference, thank you so much!

In: Economics

According to a census​ bureau, 12.5​% of the population in a certain country changed addresses from...

According to a census​ bureau, 12.5​% of the population in a certain country changed addresses from 2008 to 2009. In​ 2010, 14 out of a random sample of 200 citizens of this country said they changed addresses during the previous year​ (in 2009). Complete parts a through c below. a. Construct a 99​% confidence interval to estimate the actual proportion of people who changed addresses from 2009 to 2010. A 99​% confidence interval to estimate the actual proportion has a lower limit of nothing and an upper limit of nothing. ​(Round to three decimal places as​ needed.) b. What is the margin of error for this​ sample? The margin of error is nothing. ​(Round to three decimal places as​ needed.) c. Is there any evidence that this proportion has changed since 2009 based on this​ sample? Because the confidence interval found in part a ▼ includes does not include the reported proportion from​ 2009, this sample ▼ does not provide provides evidence that this proportion has changed since then.

In: Statistics and Probability

trial balance of pioneer corp. on July 1, 2010 is: account -------------------debit ---------------credit cash............................ $26,000   ...

trial balance of pioneer corp. on July 1, 2010 is:

account -------------------debit ---------------credit

cash............................ $26,000   

accounts receivable...... $4,500

accounts payable........................................$2,000

common stock.............................................$10,000

retained earnings.........................................$18,500

total...............................$30,500 .................$30,500

transactions during august 2010

a.loan of $45,000 from chasebank in note form

b.bought land for $40,000 cash

c. received $5,000 for services performed for customer

d. bought $300 supplies on credit

e. paid $1000 on account

f. paid salary expenses of $3000

g.received $3000 on account

h. declared dividend of $1,800

i. paid the $1,800 dividend declared in ( h. )

Post to the general ledger (a - i)

please do the following T-accounts, calculate the total only if its a permanent account.

cash, accounts receivable, supplies, land, accounts payable, notes payable, dividends payable, retained earnings, dividends, revenue, salary expense, common stock.

In: Accounting

Topeka Corporation uses special strapping equipment in its packaging business. The equipment was purchased at the...

Topeka Corporation uses special strapping equipment in its packaging business. The equipment was purchased at the beginning of 2010 for $800,000 and had an estimated useful life of 8 years with no salvage value. Topeka uses the straight-line depreciation method.

At the end of 2010, new technology was introduced that would accelerate the obsolescence of the equipment. Topeka’s controller gathered the following information:   

Expected future cash flows

$710,000

Value in use

$675,000

Fair value

$670,000

Selling costs

$20,000

14. Assume Topeka will continue to use the equipment and that it tests the asset for impairment under IFRS. Based on this test, which of the following statements is MOST correct?

There is no impairment.

There is an impairment loss in the amount of $25,000

There is an impairment loss in the amount of $35,000

15. Assume Topeka will continue to use the equipment and that it tests the asset for impairment under GAAP. Based on this test, which of the following statements is MOST correct?

There is no impairment.

There is an impairment loss in the amount of $25,000

There is an impairment loss in the amount of $35,000

In: Finance

How do you find the key that has the most vlaues in it in a dict()...

How do you find the key that has the most vlaues in it in a dict() useing python?

Example:

{'Zombies Take the Schoolyard': ['Beavers, Kim', 'Frank, Jordan', 'Goodman, Branden', 'Rivera, David', 'Stettler, Sarah'], 'Zompyres: Texas': ['Beck, Stefan', 'Bourland, Cory', 'Burnett, Chase', 'Dumas, Laura', 'Funderburk, Katie'], "2012 Dick's Oddity": ['Attix, Cathy', 'Belville, Bonnie', 'Graciela, Maritza', 'Jakus, Julia', 'Swarts, Nick'], 'CC 2010': ['Coulston, Sabrina'], 'December 21, 2012': ['Faust, Ricky', 'Keep, Tracey', 'Kehayas, Heather', 'Kimball, Elizabeth', 'Walkow, Brett'], 'Venjaxor: 2012!': ['Hueffmeier, Keith', 'Parmentier, Bill', 'Severson, Robert', 'Stroup, Kevin', 'Warner, Ron'], 'Steel of Fire Warriors 2010 A.D.': ['Clarke, Kevin', 'Furback, Jaqi', 'Sheen, Derek', 'Straw, Owen', 'Vogt, Travis']}

With these movies how do I find the the one that had the most actors in it.

Thanks for the help.

In: Computer Science

The City of Castleton’s General Fund had the following post-closing trial balance at June 30, 2019,...

The City of Castleton’s General Fund had the following post-closing trial balance at June 30, 2019, the end of its fiscal year:

Debits

Credits

Cash

$

418,000

Taxes Receivable—Delinquent

590,000

Allowance for Uncollectible Delinquent Taxes

$

196,000

Interest and Penalties Receivable

26,980

Allowance for Uncollectible Interest and Penalties

11,860

Inventory of Supplies

16,800

Vouchers Payable

155,500

Due to Federal Government

66,490

Deferred Inflows of Resources—Unavailable Revenues

402,000

Fund Balance—Nonspendable—Inventory of Supplies

16,800

Fund Balance—Unassigned

203,130

$

1,051,780

$

1,051,780

Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30, 2020.

Transaction

Fund / Governmental Activties

General Journal

Debit

Credit

1. The budget for FY 2020 provided for General Fund estimated revenues totaling $3,280,000 and appropriations totaling $3,233,000.

1

General Fund

Governmental Activities

2. The city council authorized temporary borrowing of $570,000 in the form of a 120-day tax anticipation note. The loan was obtained from a local bank at a discount of 5 percent per annum (debit Expenditures for the discount in the General Fund journal and Expenses—General Government in the governmental activities journal).

2

General Fund

Governmental Activities

3. The property tax levy for FY 2020 was recorded. Net assessed valuation of taxable property for the year was $41,000,000, and the tax rate was $6 per $100. It was estimated that 3 percent of the levy would be uncollectible.

3

General Fund

Governmental Activities

4. Purchase orders and contracts were issued to vendors and others in the amount of $2,130,000.

4

General Fund

Governmental Activities

5. $2,150,000 of current taxes, $390,270 of delinquent taxes, and $21,270 of interest and penalties were collected. The delinquent taxes and associated interest and penalties were collected more than 60 days after the prior year-end.

Record the $2,150,000 of current taxes, $390,270 of delinquent taxes, and $21,270 of interest and penalties collected.

5a

General Fund

5b

Record the delinquent taxes and associated interest and penalties collected more than 60 days after the prior year-end.

5c

Governmental Activities

Record the $2,150,000 of current taxes, $390,270 of delinquent taxes, and $21,270 of interest and penalties collected.

5d

Record the delinquent taxes and associated interest and penalties collected more than 60 days after the prior year-end.

6. Additional interest and penalties on delinquent taxes were accrued in the amount of $39,130, of which 30 percent was estimated to be uncollectible.

6

General Fund

Governmental Activities

7. Because of a change in state law, the city was notified that it will receive $94,000 less in intergovernmental revenues than was budgeted.

7

General Fund

Governmental Activities

8. Delinquent taxes of $13,003 were deemed uncollectible and written off. The associated interest and penalties of $968 also were written off.

8

General Fund

Governmental Activities

9. Total payroll during the year was $889,490. Of that amount, $69,690 was withheld for employees’ FICA tax liability, $110,710 for employees’ federal income tax liability, and $35,100 for state taxes; the balance was paid to employees in cash.

9

General Fund

Governmental Activities

10. The employer’s FICA tax liability was recorded for $69,690.

10

General Fund

Governmental Activities

11. Revenues from sources other than taxes were collected in the amount of $954,000.

11

General Fund

Governmental Activities

12. Amounts due the federal government as of June 30, 2020, and amounts due for FICA taxes and state and federal withholding taxes during the year were vouchered.

12

General Fund

Governmental Activities

13. Purchase orders and contracts encumbered in the amount of $2,058,040 were filled at a net cost of $2,057,570, which was vouchered.

13a

General Fund

Record the encumbrances outstanding for 2020.

13b

Record the total expenditures against vouchers payable for 2020.

13c

Governmental Activities

Record the total expenses against vouchers payable for 2020.

14. Vouchers payable totaling $2,371,660 were paid after deducting a credit for purchases discount of $8,730 (credit Expenditures).

14

General Fund

Governmental Activities

15. The tax anticipation note of $570,000 was repaid.

15

General Fund

Governmental Activities

16. All unpaid current year’s property taxes became delinquent. The balances of the current taxes receivables and related uncollectibles were transferred to delinquent accounts. The City uses the 60-day rule for all revenues and does not expect to collect any delinquent property taxes or interest and penalties in the first 60 days of the next fiscal year.

16a

General Fund

Record the delinquent amount of unpaid property taxes.

16b

Record the adjustment for the delinquent amount of tax against the allowance.

16c

Record the deferred inflow of resource

16d

Governmental Activities

Record the delinquent amount of unpaid property taxes.

16e

Record the adjustment for the delinquent amount of tax against the allowance.

16f

Record the deferred inflow of resource

17. A physical inventory of materials and supplies at June 30, 2020, showed a total of $20,500. Inventory is recorded using the purchases method in the General Fund; the consumption method is used at the government-wide level. (Note: A periodic inventory system is used both in the General Fund and at the government-wide level. When inventory was purchased during the year, Expenditures were debited in the General Fund journal and Inventory of Supplies was debited in the governmental activities journal. Recorded entry to reclassify the fund balance.)

17

General Fund

Governmental Activities

In: Accounting