After doing a chest x-ray, your doctor says the results are inconclusive. So, you are put on a six-month course of isoniazid to be safe. About six months later, while sitting in your medical microbiology class during a lecture on tuberculosis, you suddenly realize why you had that positive reaction to the skin test six months earlier. It had nothing to do with being infected, but was because you were born in Norway and your family moved to the United States when you were four years old.

3. What is going on here? Discuss in detail. 4. A while later, you told a friend of yours who is HIV-positive about your TB scare. She said that her doctor doesn't typically use the TB skin test on her, even though people with HIV are more susceptible to TB. Why is the skin test not always a reliable TB test for those with HIV?

After doing a chest x-ray, your doctor says the results are inconclusive. So, you are put on a six-month course of isoniazid to be safe. About six months later, while sitting in your medical microbiology class during a lecture on tuberculosis, you suddenly realize why you had that positive reaction to the skin test six months earlier. It had nothing to do with being infected, but was because you were born in Norway and your family moved to the United States when you were four years old.

3. What is going on here? Discuss in detail. 4. A while later, you told a friend of yours who is HIV-positive about your TB scare. She said that her doctor doesn't typically use the TB skin test on her, even though people with HIV are more susceptible to TB. Why is the skin test not always a reliable TB test for those with HIV?

You have been asked to continue your analysis of the yearly sales of the Nikon D5 camera body at the population of stores that sells this item throughout the United States. One of the factors that need to be studied is the variability in the sales of this item for this population of stores. To complete this task, you select a random sample of stores and record the sales at these stores. This data is shown in appendix one below. At both the 10% and the 5% levels of significance, does the standard deviation in the sales of the unit at the stores differ from 50 units? Create also 90% and 95% confidence intervals for the variance and standard deviation of the sales of this camera. Explain their meanings. Use these intervals to perform the hypothesis tests you performed earlier in the problem.

Appendix One:

158     192     201     154     155     188     132     200     194     183     188

190     166     160     176     122     180     167     129     138     178     199

187     229     167     164     189     165     188     200    

Determine what the dominant strategy is for each player in each game below:

a. ​​​​​​

b.

c.

A recent study of the effects of income on demand for health care evaluated the effects of job changes, including job loss, unemployment compensation, and salary increases on the demand for healthcare. The study found that when income dropped by 2%, the demand for health services dropped 0.5%. Another recent study analyzed these effects by comparing the demand for health care across families at different income levels in the United States. The second study found that among families with annual incomes of $60,000, the demand for health care was approximately 0.75 times the demand among families with annual incomes of $80,000.

a. What is the formula for calculating income elasticity of demand? (Show the formula and describe each term in the formula.)

b. What is the income elasticity of demand implied by the first study? (Show your calculations.)

c. What is the income elasticity of demand implied by the second study? (Show your calculations.)

d. If these estimates are different, how would you explain these differences? (2-4 sentences.)

-Which of the following is NOT a characteristic of prime or conforming mortgages? (Select all that apply)

A.They can be purchased by Fannie Mae and Freddie Mac

B.They can be guaranteed by the government

C.They are protected from bankruptcy

They can be packaged into mortgage-backed securities

7 Which of the following is a characteristic of prime or conforming mortgages? (Select all that apply)

A.They can be packaged into mortgage-backed securities

B.They can be guaranteed by the government

C.They are protected from bankruptcy They can be purchased by Fannie Mae and Freddie Mac

8 In the United States which of the following was true? (Select all that apply)

A.The housing crisis was a primary driver of the financial crisis

B.The housing crisis was characterized by high foreclosure rates nationally but it was significantly worse in some regions and for some types of mortgages

C.The combination of the housing crisis and the financial crisis deepened the real economic effects of what would later be called “The Great Recession”

D.The financial crisis was a primary driver of the housing crisis

Discuss the role of the patent system in this case.

From its humble beginnings in 1946 as a small enterprise of some 20 staff members repairing phonographs, a brave decision to obtain a patent license changed the fate of this enterprise. In 1952, the founder of the enterprise came across patent information on an invention of the Bell Laboratories: the transistor. He approached Western Electric (WE) of the United States of America, the patent holder, and obtained a patent license. At that time, the transistor was only used in hearing aids, and WE did not see any chance for greater commercial success in the application of the transistor technology. Wondering if such a small firm was capable of developing any useful device from the transistor, WE shared with engineers of the enterprise useful technical information about the transistor, as agreed in the patent license agreement. In 1955, the small enterprise produced its first transistor radio and marketed the new product, which was a huge success. The successful commercialization of a transistor radio enabled this small enterprise (subsequently renamed as Sony Corporation) to enter the global market of electronics.

Pick any 2 questions and answer it (answer should be half page long per question):

1. The acceleration of economic growth in the last two decades has made economic decision-making more complex as multinational concerns must be taken into account. Explain.

2. The Information Revolution, an economic restructuring comparable to the Agricultural Revolution and the Industrial Revolution, has brought about new questions of social interest. Elaborate.

3. Climatologists agree that global warming is at least in part the result of economic activity. The warming may lead to large economic costs. How can individuals and nations satisfy their self-interested desire for goods and services while also protecting the social-interest of the environment?

4. Think about the trends in what and how goods and services are produced in the U.S. and global economies. Do you think that at some future time, there will be no jobs in the United States and all the jobs will be in developing economies?

5. Compare the scale of agricultural production in the advanced and developing economies.

1. You no longer believe that the population standard deviation in the yearly sales per store of this model of camera is a known quantity. You therefore will use the sample standard deviation of the yearly sales per store as an estimate of this unknown population standard deviation as you attempt to estimate the yearly mean sales per store of the population of stores across the United States. You collect sales information from a random sample of stores. This data is shown in appendix one below. Find both 95% and 90% confidence intervals for the mean sales per store at this population of stores. At each confidence level, comment upon the change in the results of this problem from the results of the previous problem.

            Appendix One (Sales per store of the unit)

            143     189     201     134     155     198     225     235     188     165     141

            199     154     219     215     167     187     219     220     168     155     189

            230     214     145     139     187     190     176     190

While World War II ended in Europe with the suicide of Hitler and the defeat of German troops, the war in the Pacific promised to be a long drawn out affair. Harry Truman became President in April of 1945 upon the death of President Franklin D. Roosevelt. Truman, who had no idea what an atomic weapon was decided to use them to end the war in the Pacific in August, 1945. While the United States forces were advancing on Japan, Truman had to weigh the cost of an invasion of Japan versus the use of the new weapons.   The military estimated that over a million men would be killed or wounded in an invasion of the Japanese homelands and would take several years.  

The use of atomic weapons to end World War II is still controversial today.  

Do you think President Truman was right in using Fat Man and Little Boy to end the war or should the use of atomic weapons have been stopped before their use to prevent the arms race that led to the Cold War?