This is in Principles of Microeconomics. Prepare a brief reflection paper (300-350) that discusses the two " Thinking Critically" questions. 1. One key economic idea is that people respond to economic incentives. What economic incentives are Google and Novartis responding to? 2. Some diabetic patients need to monitor their condition by pricking their finger for blood to check blood sugar levels. If these patients could instead use the smart contact lens, it could improve the effectiveness of monitoring and, therefore, treatment. Develop an economic model to analyze the relationship between using the smart contact lens or the finger- pricking method of monitoring blood sugar levels and the number of diabetes-related deaths in the United States. Use information from the article to explain the steps you would take to develop this model. Found in Microeconomics sixth edition on page 20-21.
In: Economics
Follow this hypothetical: Of the total of 62 Senate resolutions passed in the first session of the 101st congress, the last one was a resolution to levy a 25 cent tax on each gallon of gas sold in the country. The Senate was in a position to consider the resolution because the first resolution passed by the House in the same session was a similar bill levying a 30 cent tax on each gallon of gas sold (taxation bills need to originate in the House). a. Create a citation (label) for the House bill using only appropriate letters and abbreviations to indicate the origin of the bill. b. Describe what has to happen to get this bill or (its modification) into the United States Code. (This question requires that you describe how two separate bills (House and Senate) become a law that is cataloged into the USC including all the steps that may be required). What year would this hypothetical legislative action have occurred?
In: Economics
Flexible Budget for Fabrication Department
Steelcase Inc. is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it produces filing cabinets in two departments: Fabrication and Assembly. Assume the following information for the Assembly Department:
| Direct labor per filing cabinet | 30 minutes |
| Supervisor salaries | $141,000 per month |
| Depreciation | $21,000 per month |
| Direct labor rate | $21 per hour |
Prepare a flexible budget for 8,000, 10,000, and 12,000 filing cabinets for the month of August, similar to Exhibit 5, assuming that inventories are not significant. Enter all amounts as positive numbers.
| Steelcase Inc. - Assembly Department | |||
| Month Ending August 31 | |||
| (Assumed Data) | |||
| Units of production | 8,000 | 10,000 | 12,000 |
| Variable cost: | |||
| $ | $ | $ | |
| Fixed cost: | |||
| $ | $ | $ | |
| Total fixed cost | $ | $ | $ |
| Total department cost | $ | $ | $ |
In: Accounting
Salina is a 7-year-old who lives with her parents in a suburban community. Her parents brought Salina to the United States from their homeland in Greece when she was 1 year old. At the age of 3, Salina was in the 10th percentile for height and weight, pale, and her hemoglobin was 5.8 g/dL. Following further diagnostic studies, she was diagnosed with beta-thalassemia major. Over the course of the next 4 years, Salina was hospitalized every 1–2 months so she could be transfused with packed red blood cells.
During a routine follow-up visit at the hematology clinic,Salina’s laboratory results were as follows: Hemoglobin: 10 mg/dL Total serum iron: 150 mcg/dL.
1.)What is Beta-Thalassemia. Discuss the incidence, and etiology and the significance of Salina's family's geographic background to her diagnosis.
In: Biology
6.Suppose that you had savings deposited in an account at an interest rate of 5 percent and your father told you that he earned 10 percent interest 20 years ago.
Which of you was getting the better return?
How would your answer change if you were told that the inflation rate in the United States was 12 percent 20 years ago and is 3 percent now?
7.Suppose you have $1,000, which you can put in two different types of accounts at a bank. One account pays interest of 8 percent per year; the other pays interest of 2 percent per year plus the rate of inflation.
Calculate the real return you will receive after one year if the inflation rate is 5 percent.
Which account will you choose if you expect the rate of inflation to be 8 percent? Why?
In: Economics
|
New York City is the most expensive city in the United States for lodging. The mean hotel room rate is $204 per night (USA Today, April 30, 2012). Assume that room rates are normally distributed with a standard deviation of $55. Use Table 1 in Appendix B. a. What is the probability that a hotel room
costs $225 or more per night (to 4 decimals)? b. What is the probability that a hotel room costs less than $139 per night (to 4 decimals)? c. What is the probability that a hotel room costs between $200 and $300 per night (to 4 decimals)? d. What is the cost of the 20% most expensive
hotel rooms in New York City? Round up to the next dollar. |
In: Statistics and Probability
Monthly Mortgage Payments The average monthly mortgage payment including principal and interest is 982 in the United States. If the standard deviation is approximately 180 and the mortgage payments are approximately normally distributed, find the probabilities. Use a TI-83 Plus/TI-84 Plus calculator and round the answers to at least four decimal places.
(a)
(a)The selected monthly payment is more than
$1400
(a)The selected monthly payment is more than 1400
P(Z>1400)=
2) Prison Sentences The average prison sentence for a person convicted of second-degree murder is 16 years.
If the sentences are normally distributed with a standard deviation of 1.8 years, find the following probabilities. round to four decimal places.
A prison sentence is greater than 19 years.
P(X>19)=
I can't find the answer because I don't think I have the right calculator. Please help.
In: Statistics and Probability
Bangladesh, a very poor country, has been able to grow even during the most recent global recession thanks to its strong textile industry. Bangladesh, with its low wages, large investments in textile technology, and strong network of supporting industries, is now one of the world’s lowest cost producers of textiles. 1: Why was the shift to a free trade regime in the textile industry good for Bangladesh? 2: Who benefits when retailers in the United States source textiles from low wage countries such as Bangladesh? Who might lose? Do the gains outweigh the losses? 3: What international trade theory, or theories, best explain the rise of Bangladesh as a textile exporting powerhouse? 4: How secure is Bangladesh’s textile industry from foreign competition? What factors could ultimately lead to a decline?
In: Economics
3. Categories of expenditures Gilberto and Juanita Jones live in Swarthmore, PA. Juanita's father, Lorenzo, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction C I G X M Gilberto buys a bottle of Italian wine. Juanita's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. Juanita gets a new video camera made in the United States. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. Gilberto's employer upgrades all of its computer systems using U.S.-made parts. PLease also explain how the answer came about
In: Economics
Identify the political, legal, and macro-economic environment of your importing country Saudi Arabia, and examine the general business environment of Saudi Arabia.
In the end of your presentation, you must provide an assessment of country risk and a conclusion to explain how your analysis of the institutional environment could impact you exporting decision.
In: Economics