Mr. and Mrs. T. are naturalized Americans. They were born and raised in Japan and moved to the United States 20 years ago. Mrs. T. is 45 and teaches kindergarten. Mr. T. is 54 and runs an import store. Their son, Ritchie, 16 years old, was born in the United States. He is a sophomore in high school, where he plays baseball.

Mr. T. started having some chest pains 2 years ago and was diagnosed at the clinic with mild angina. He takes nitroglycerin (NTG) 0.3 mg SL when he feels any discomfort. His chest pain is usually exertion related. Lately, he has had to take the NTG more often. He has an appointment with the cardiologist next week.

The paramedics put an oxygen cannula on Mr. T. and start an IV in his left arm. They give him a baby aspirin to chew, contact the local hospital, and prepare Mr. T. for transport. Upon arrival in the ED, Mr. T.’s heart rate is 110 beats/min, and he is diaphoretic.

Mr. T. was quickly triaged in the ED with a preliminary diagnosis of acute inferior wall MI. The hospital is in a rural area, and the weather is severe. Ground transport to the nearest hospital able to do PCI is 2 hours. Therefore, a decision is made to administer thrombolytics. Within 1 hour, Mr. T. was started on reteplase.

One day after the thrombolytic therapy, Mr. T.’s cardiac rhythm suddenly dropped to 40 beats/min, and he became very dizzy and breathless.

One month after Mr. T.’s revascularization, he develops chest pain and visits the cardiologist. He is having T-wave changes in the anterior leads. He is referred to as the tertiary care center for additional testing. He undergoes cardiac catheterization and angiography, and a lesion of the left main coronary artery is found. He is scheduled for a CABG.

Mr. T. had the CABG. It was difficult to get Mr. T. weaned from the cardiopulmonary bypass machine. A decision was made to insert an Intra aortic balloon pump (IABP).

Mr. T. required the IABP for 24 hours, at which time it was weaned and removed. The remainder of his postoperative course was uneventful, and he was discharged home 6 days after surgery.

Answer the following questions:

Who has observed resuscitation efforts?

What observations were made?

What perceptions of care were noted?

Related to the case study in the cardiovascular lecture:

What nursing care was done prior to starting reteplase?

What is the nursing care associated with a patient receiving reteplase?

What complications must be assessed during and after the administration of the medication?

21.Select the phrase that best completes the sentence.

In the 1920's, most of the trading on the New York Stock Exchange

22.Which of the following statements concerning limited liability companies (LLCs) are true?

23.Section 10(b) of the Exchange Act is the statute’s anti-fraud provision. Pursuant to §10(b) of the Exchange Act, the SEC adopted Rule 10b-5. As to Rule 10b-5 which of the following statements are true. Select all that apply.

24. In Banker v. Estate of Banker, the court found that Arnold, who was the only partner to actually operate the partnership's campground business.

25. A partnership can raise capital in which of the following ways?

Spartan markets its products in Canada and England through branches in Toronto and London, respectively. Title transfers in the United States on all sales to U.S. customers and abroad (FOB: destination) on all sales to Canadian and English customers. Spartan reported total gross income on U.S. sales of $27,200,000 and total gross income on Canadian and U.K. sales of $6,800,000, split equally between the two countries. Spartan paid Canadian income taxes of $816,000 on its branch profits in Canada and U.K. income taxes of $952,000 on its branch profits in the U.K. Spartan financed its Canadian operations through a $6 million capital contribution, which Spartan financed through a loan from Bank of America. During the current year, Spartan paid $360,000 in interest on the loan.

Spartan sells its quidgets to Australian customers through its wholly-owned Australian subsidiary. Title passes in the United States (FOB: shipping point) on all sales to the subsidiary. Spartan reported gross income of $2,190,000 on sales to its subsidiary during the year. The subsidiary paid Spartan a dividend of $804,000 on December 31 (the withholding tax is 0 percent under the U.S.- Australia treaty). Spartan was deemed to have paid Australian income taxes of $396,000 on the income repatriated as a dividend. Refer Corporate tax table.

Requirement:

Compute Spartan’s foreign source gross income and foreign tax (direct and withholding) for the current year.

Assume 20 percent of the interest paid to Bank of America is allocated to the numerator of Spartan’s FTC limitation calculation. Compute Spartan Corporation’s FTC limitation using your calculation from question a and any excess FTC or excess FTC limitation (all of the foreign source income is put in the general category FTC basket).

(Enter your answers in dollars not in millions of dollars.)

Complete this question by entering your answers in the tabs below.

Req A

Compute Spartan’s foreign source gross income and foreign tax (direct and withholding) for the current year.

Req B

Assume 20 percent of the interest paid to Bank of America is allocated to the numerator of Spartan’s FTC limitation calculation. Compute Spartan Corporation’s FTC limitation using your calculation from question a and any excess FTC or excess FTC limitation (all of the foreign source income is put in the general category FTC basket). (Do not round intermediate calculations.)

Let x represent the average annual salary of college and university professors (in thousands of dollars) in the United States. For all colleges and universities in the United States, the population variance of x is approximately σ² = 47.1. However, a random sample of 20 colleges and universities in Kansas showed that x has a sample variance s² = 85.4. Use a 5% level of significance to test the claim that the variance for colleges and universities in Kansas is greater than 47.1. Find a 95% confidence interval for the population variance.

(a) What is the level of significance?


State the null and alternate hypotheses.

H_o: σ² = 47.1; H₁: σ² ≠ 47.1

H_o: σ² = 47.1; H₁: σ² > 47.1    

H_o: σ² = 47.1; H₁: σ² < 47.1

H_o: σ² < 47.1; H₁: σ² = 47.1

(b) Find the value of the chi-square statistic for the sample. (Round your answer to two decimal places.)


What are the degrees of freedom?


What assumptions are you making about the original distribution?

We assume a binomial population distribution.

We assume a normal population distribution.    

We assume an exponential population distribution.

We assume a uniform population distribution.

(c) Find or estimate the P-value of the sample test statistic.

P-value > 0.100

0.050 < P-value < 0.100    

0.025 < P-value < 0.050

0.010 < P-value < 0.025

0.005 < P-value < 0.010

P-value < 0.005

(d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis?

Since the P-value > α, we fail to reject the null hypothesis.

Since the P-value > α, we reject the null hypothesis.    

Since the P-value ≤ α, we reject the null hypothesis.

Since the P-value ≤ α, we fail to reject the null hypothesis.

(e) Interpret your conclusion in the context of the application.

At the 5% level of significance, there is insufficient evidence to conclude the variance of annual salaries is greater in Kansas.

At the 5% level of significance, there is sufficient evidence to conclude the variance of annual salaries is greater in Kansas.    

(f) Find the requested confidence interval for the population variance. (Round your answers to two decimal places.)

Interpret the results in the context of the application.

We are 95% confident that σ² lies below this interval.

We are 95% confident that σ² lies within this interval.    

We are 95% confident that σ² lies outside this interval.

We are 95% confident that σ² lies above this interval.

As you answer these questions, be sure that you EXPLAIN YOUR ANSWERS IN DETAIL AND SHOW YOUR CALCULATIONS. Remember you are showing off how much you know about economics and one or two sentences shows me you don’t know very much.

Question One: Fiscal Policy Assume the United States economy has the following:

• GDP is $18,500 billion down from $19,350 billion nine months ago.

• Unemployment is at 6.8% up from 4.2% nine months ago.

• Inflation is stable at 2.0%. • MPC=.75 • NRU=4.0%

• Target Inflation is 2.0%

1. Explain in detail the problem the country is facing. Include an analysis of both inflation and unemployment including whether the economy is in a recession or not.

2. What is the size of the GDP gap? Show the calculations.

3. Government could address the problem with either increasing government spending, cutting taxes or both. If the government decided to increase spending to address the problem, by how much should spending be increased? If the government decided to cut taxes to address the problem, by how much should taxes be cut? Show the calculations and provide explanations.

4. Should the government cut taxes or increase spending or some combination of both to address the problem? Detailed Explanations!!

5. What could happen to make the policy you recommended in Question 4 ineffective? On this question, be sure to read the section in your text beginning on page 275. Don’t just make something up. It will take a paragraph or two to answer this question because you need to relate the specific complication to the scenario described in the question.

Question Two: Monetary Policy Assume the United States economy has the following:

• GDP is $15,600 billion up from $13,400 billion four years ago.

• Unemployment is at 4.0% down from 7.7% three years ago.

• Inflation is at 3.7% up from 1.2% four years ago.

• NRU = 4.0%

• Target Inflation is 2.0%

1. Explain in detail the problem the country is facing.

2. Should the Federal Reserve adopt an easy money or tight money policy? Explain!

3. Which policy tool should the Federal Reserve use to carry out the policy you recommended in Question 2? Detailed explanation as to why the choice is correct and how the tool works to address the problem.

4. What could happen to make the policy you recommended in Question 2 ineffective? On this question, be sure to read the section in your text beginning on page 343. Don’t just make something up. It will take a paragraph or two to answer this question because you need to relate the specific complication to the scenario described in the question.

Let x represent the average annual salary of college and university professors (in thousands of dollars) in the United States. For all colleges and universities in the United States, the population variance of x is approximately σ² = 47.1. However, a random sample of 15 colleges and universities in Kansas showed that x has a sample variance s² = 85.4. Use a 5% level of significance to test the claim that the variance for colleges and universities in Kansas is greater than 47.1. Find a 95% confidence interval for the population variance.

(a) What is the level of significance?


State the null and alternate hypotheses.

H_o: σ² = 47.1; H₁: σ² < 47.1 H_o: σ² < 47.1; H₁: σ² = 47.1     H_o: σ² = 47.1; H₁: σ² ≠ 47.1 H_o: σ² = 47.1; H₁: σ² > 47.1

(b) Find the value of the chi-square statistic for the sample. (Round your answer to two decimal places.)


What are the degrees of freedom?


What assumptions are you making about the original distribution?

We assume a exponential population distribution. We assume a binomial population distribution.     We assume a normal population distribution. We assume a uniform population distribution.

(c) Find or estimate the P-value of the sample test statistic.

P-value > 0.100 0.050 < P-value < 0.100     0.025 < P-value < 0.050 0.010 < P-value < 0.025 0.005 < P-value < 0.010 P-value < 0.005

(d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis?

Since the P-value > α, we fail to reject the null hypothesis. Since the P-value > α, we reject the null hypothesis.     Since the P-value ≤ α, we reject the null hypothesis. Since the P-value ≤ α, we fail to reject the null hypothesis.

(e) Interpret your conclusion in the context of the application.

At the 5% level of significance, there is insufficient evidence to conclude the variance of annual salaries is greater in Kansas. At the 5% level of significance, there is sufficient evidence to conclude the variance of annual salaries is greater in Kansas.    

(f) Find the requested confidence interval for the population variance. (Round your answers to two decimal places.)

Interpret the results in the context of the application.

We are 95% confident that σ² lies within this interval. We are 95% confident that σ² lies above this interval.     We are 95% confident that σ² lies outside this interval. We are 95% confident that σ² lies below this interval.

QUESTION B3

The figure below depicts aggregate demand and aggregate supply in the nation of Pacifica in 2018.

At the beginning of 2019, a wave of business optimism led producers to sharply increase their planned investment expenditure.

1. What effect, if any, will this increased investment expenditure have in the short-run on the Aggregate Demand curve? The Short-Run Aggregate Supply curve? [TYPE YOUR ANSWER BELOW]

2. After the increased investment expenditure, will short-run equilibrium real GDP be above or below potential GDP? How do you know? [TYPE YOUR ANSWER BELOW]

3. After the increased investment expenditure, if the government takes no action how will Pacifica’s economy adjust over time to move towards its long-run equilibrium? (Note: for full credit you must explain not only what happens to move the economy to long-run equilibrium, but also why it happens.) [TYPE YOUR ANSWER BELOW]

The president of Pacifica is concerned about the effect of this new investment expenditure on the economy, and she wishes to use monetary policy to move equilibrium GDP back toward potential GDP. (For the remainder of the question, assume that the Pacifica Central Bank is Pacifica’s version of the United States Federal Reserve and that Pacifica’s banking and financial systems work exactly like the United States’ banking and financial systems.)

4. Which one of the following policies would help the president achieve her aim? [TYPE YOUR ANSWER BELOW]

1. Direct the Pacifica Central Bank to sell Pacifica Treasury Bills
2. Direct the Pacifica Central Bank to purchase Pacifica Treasury Bills

The figure below represents the money market in Pacifica just after the increase in investment expenditure but before the government undertakes the monetary policy you chose in part (d).

5. Explain why the Money Demand curve has a negative slope. (Note: you must say more than that money demand increases as the interest rate decreases, and vice versa. You must explain why this is the case.) [TYPE YOUR ANSWER BELOW]

6. What effect (if any) will the monetary policy you chose in part (d) have (in the short-run) on the Money Supply curve? The Money Demand curve? The equilibrium interest rate? [TYPE YOUR ANSWER BELOW]

7. What impact (if any) will this monetary policy have (in the short-run) on Aggregate Expenditure? (If it does have an effect on Aggregate Expenditure, explain which component or components of Aggregate Expenditure will be most affected.) [TYPE YOUR ANSWER BELOW]

8. What impact (if any) will this monetary policy have on short-run equilibrium real GDP and the short-run equilibrium Aggregate Price Level? [TYPE YOUR ANSWER BELOW]

Marmidan Mold Shop Inc. designs and builds molds for the automotive and aircraft industries. The account balances in the company’s general ledger on January 1, 2020 (first day of the new annual fiscal year) were as follows (all account balances are in their normal position):

Cash                                                                    $     3,700

Accounts receivable                                                   5,900

Supplies inventory                                                    29,300

Land                                                                        168,500  

Buildings                                                                 116,500

Accumulated depreciation, buildings                       37,500   

Equipment                                                                 58,500

Accumulated depreciation, equipment                     18,000

Accounts payable                                                      25,200

Income tax payable                                                   16,600

Interest payable                                                           4,200

Wages payable (due in 2020)                                    15,700                                         

9% Notes payable ($10,000 due June 30, 2021,

     balance due June 30, 2022)                                  61,500

Common shares                                                       151,500

Retained earnings, Dec. 31, 2019                              52,200  

Transactions during 2020:

1.The company provided sales services to customers, on credit, for $ 210,300. In addition, the company produced cash sales to customers of $ 62,300.

2.Accounts receivable from customers of $ 15,600 remain to be collected at December 31, 2020.

3.Inventory of $ 62,900 was purchased on credit and debited to the supplies inventory account.

4.Minor parts were purchased with cash for $ 7,400 and debited to the supplies inventory account.

5.Wages payable at the beginning of 2020 were paid early in 2020. In addition, wages were earned by employees and paid during 2020 in the amount of $ 112,000.

6.Income tax payable at the beginning of 2020 was paid early in 2020.

7.Payments of $ 73,000 were made to creditors for supplies previously purchased on credit.

8.One year’s interest at 9% was paid on the notes payable at July 1, 2020.

9. During 2020, Don Tallint, the principal shareholder, purchased a new car for his wife

    Debbie. The new car cost $ 45,000 and was paid for with cash from personal sources.

10.Property taxes were paid on the land and buildings in the amount of $ 17,000 with cash.

11.Dividends were declared and paid in caah in the amount of $ 7,200.

Information available for year end adjusting entries:

12.•Supplies inventory was counted on December 31, 2020 and it was determined the supplies inventory still on hand at yearend was $ 31,900.

13. •Annual depreciation on the buildings is $ 6,000.

14•Annual deprecation on the equipment is $ 5,500

15•Additional wages of $4,000 were earned but are unpaid and unrecorded at December 31, 2020.

16•Interest for six months at 9% per year on the notes payable is unpaid and unrecorded at December 31, 2020..

17•Income taxes of $ 16,500 were unpaid and unrecorded at December 31, 2020.

Required:

1.Record beginning 2020 beginning balances in T accounts. Prepare journal entries for transactions 1 to 11 above as required and record the journal entries in T accounts while

adding any new T accounts that you need as you complete this task.

2.Prepare any necessary adjusting journal entries fpr items 11 to 17 above and record the adjusting journal entries in the T accounts while adding any new T accounts that you need as you complete this task.

3. Prepare a single step income statement for Marmidan Mold Shop Inc. for the year ended December 31, 2020.

4.Prepare a statement of retained earnings for Marmidan Mold Shop Inc. for the year ended December 31, 2020.

5.Prepare a classified statement of financial position for Marmidan Mold Shop Inc. as at December 31, 2020

If Manreen grasps the concept of the preservation of quantity, she has now acquired the
principle of:

1. How should the acquisition of general fixed assets acquired by capital leases be accounted for?