Harold Dean became Chief Executive Officer of Wriston Manufacturing two years ago. At that
time, the company was reporting lagging profits, and Harold was brought in to “stir things up.”
The company has three divisions; electronics, fiber optics, and plumbing supplies. Harold has no
interest in plumbing supplies, and one of the first things he did was to put pressure on his
accountants to reallocate some of the company’s fixed costs away from the other two divisions to
the plumbing division. This had the effect of causing the plumbing division to report losses
during the last two years; in the past it has always reported low, but acceptable, net income.
Harold felt that this reallocation would shine a favorable light on him in front of the board of
directors because it meant that the electronics and fiber optics divisions would look like they were
improving. Given that these are “businesses of the future,” he believed that the stock market
would react favorably to these increases, while not penalizing the poor results of the plumbing
division. Without this shift in the allocation of fixed costs, the profits of the electronics and fiber
optics divisions would not have improved. But now the board of directors has suggested that the
plumbing division be closed because it is reporting losses. This would mean that nearly 500
employees, many of whom have worked for Wriston their whole lives, would lose their jobs.

a) If a division is reporting losses, does that necessarily mean that it should be closed? Explain.
b) Was the reallocation of fixed costs across divisions unethical? Explain.
c) What should Harold do now that the plumbing division may be closed?

Hammond Manufacturing Inc. was legally incorporated on January 2, 2017. Its articles of incorporation granted it the right to issue an unlimited number of common shares and 100,000 shares of $14.0 noncumulative preferred shares. The following transactions are among those that occurred during the first three years of operations:

$6,000

$7,000

$0

None of the other answers is correct

$4,500

a. The Australian dollar against the US dollar (and against other major currencies) has appreciated in recent months (mid-March 2020 to early June 2020). Identify the underlying drivers and the implications of this rising exchange rate in Australia.

The switch in the figure below is open for t < 0 and is then thrown closed at time t = 0.

(a) Find the current in the inductor. (Use the following as necessary: L, R, t, and for .)
I_L =

(b) Find the current in the switch as functions of time thereafter. (Use the following as necessary: L, R, t, and for .)
I_switch =

a. Describe the following: front-end load, back-end load, level load, 12b-1 fee, management fee. b. Why do mutual funds have different classes of shares? c. What are the advantages of an ETF relative to open-end and closed-end investment companies?

In an open economy the demand for money

Select one:

a. increases because foreigners hold money to buy domestic assets.

b. decreases because foreigners hold domestic currency in their countries.

c. is no different than in a closed economy.

d. doesn't change unless the world interest rate changes.

Explain why government budget deficits crowd out private investment spending in a closed

economy but crowd out net exports in a small open economy. Assume that prices are flexible

and that factors of production are fully employed in both economies. Assume that there is

perfect capital mobility for the small open economy.

(8pts)Consider the following vector field F and closed oriented curve C in the plane

a. compute the circulation and interpret the result

b. compute the flux of the vector field F across C

F = <y,-2x>/sqrt(4x^2+y^2)

r(t) = <2cost,4sint>