Because of the COVID-19 pandemic recession the unemployment rate spiked to more than 15% (the highest level since the Great Depression of the 1930s) and has slowly declined to a 7.9% in September. In response, the Federal Reserve has taken increased the money supply by more than 40% between February and September. This effort was made to prevent a financial crisis and lower interest rates.

The inflation rate fell from 2.3% before the recession to 1.4% in September. Given the information in the paragraph above, was this decline in inflation better predicted by monetarist economic theory or Keynesian economic theory? Please write your answer in the text box below. Please DO NOT write out an explanation, just your answer to the question.

24.  The Trump administration has increased tariffs (taxes on imports) on imports from China.  Most of the tariffs are in so-called intermediate goods, used to produce goods and service in the United States. This will raise the  cost of producing U.S. goods that are made with Chinese parts and cause:

Group of answer choices

A aggregate demand to decrease.

B aggregate demand to increase.

C aggregate supply to increase.

D aggregate supply to decrease.

The following ethical dilemma discussion is from Chapter Three of the accompanying text. The questions immediately following each ethical dilemma are guided questions for you to consider as you frame your thinking. Seek to develop your own positions where neither the law nor public opinion has reached an ethical consensus that conforms to accepted values. For every question, there are two or more valid positions that are consistent with universal values and principles.

1. Should everyone who pays into insurance risk pools be forced to pay higher health insurance premiums to cover the costs of the uninsured when they become seriously ill? Is this situation fair, especially when the higher premiums lead to the insured becoming underinsured?
2. What values are making the legislation mandating universal health coverage controversial in the United States?
3. Is the value of providing universal health coverage great enough to incur the cost of care to the uninsured? Or, are the uninsured of less value to society than the insured?
4. What are society's obligations, if any, if someone decides not to purchase health insurance, but then falls seriously ill or is involved in a catastrophic accident? What are the obligations if their uninsured child needs care, if any?

1 – Securities Exchange Commission (source: BYP4-5 of Kimmel textbook)

What event spurred the creation of the SEC? Why was the SEC created?

What are the five divisions of the SEC? Briefly describe the purpose of each.

What are the responsibilities of the chief accountant?

2. Financial Accounting Standards Board (source: BYP7-5 Kimmel textbook). The FASB is a U.S. private organization established to improve accounting standards and financial reporting. The FASB conducts extensive research before issuing a "Statement of Financial Accounting Standards," which represents an authoritative expression of generally accepted accounting principles.

What is the mission of the FASB? (Hint: Select Facts about FASB.)

How is a standard created? (Hint: See Standard Setting Process.)

Describe the make-up of the board members. (Hint: Select Board Members.)

3. Public Company Accounting Oversight Board (PCAOB) (source: PYP7-6 Kimmel textbook.) The PCAOB was created as a result of the Sarbanes-Oxley Act. It has oversight and enforcement responsibilities over CPA firms in the United States.

What is the mission of the PCAOB?

Briefly summarize its responsibilities related to enforcement.

High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:

Management is anxious to assess the profitability of the new camp cot during the month of May.

Required:

1. Assume that the company uses absorption costing.

a. Determine the unit product cost.

b. Prepare an income statement for May.

2. Assume that the company uses variable costing.

a. Determine the unit product cost.

b. Prepare a contribution format income statement for May.

Distribution channels in marketing are product, promotion, price and placement. A distribution channel is a chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer. It can include wholesalers, retailers, distributors, and even the internet. A distribution channel represents how an organization will make its product or service available to the end consumer for consumption or use. I chose to take a look at Apple. The first distribution channel that Apple utilizes is where the producer sells directly to a retailer who in turn sells Apple’s product to the end consumer. Apple sells their products to companies such as Best Buy, Target, Verizon, and many others stores. Another channel that Apple utilizes is a direct-to-consumer where the producer sells its product directly to the end consumer; this is the shortest distribution process. Apple has its own retail stores, along with the company’s online store to sell directly to the consumer. Apple is one of the most successful brick and mortar shops in the United States. I find it interesting how well Apple has done as an electronic mogul. They sell to reputable retailers and get their products in many different store fronts.

High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:

Management is anxious to assess the profitability of the new camp cot during the month of May.

Required:

1. Assume that the company uses absorption costing.

a. Calculate the unit product cost.

b. Prepare an income statement for May.

2. Assume that the company uses variable costing.

a. Calculate the unit product cost.

b. Prepare a contribution format income statement for May.

Cintas designs, manufactures, and implements corporate identity uniform programs that it rents or sells to customers throughout the United States and Canada. The company’s stock is traded on the NASDAQ and has provided investors with significant returns over the past few years. Selected information from the company’s balance sheet follows. For 2012, the company reported sales revenue of $3,708,400 and cost of goods sold of $1,516,015. CINTAS Balance Sheet (in thousands) 2012 2011 Cash $ 35,373 $ 38,927 Marketable securities — 202,542 Accounts receivable 408,884 389,918 Inventories 231,752 198,019 Prepaid expense and other 15,797 15,797 Accounts payable 64,624 71,642 Accrued compensation and related liabilities 70,769 95,381 Accrued liabilities 263,516 239,067 Accrued tax liability 2,568 — Long-term debt due within one year 4,155 26,667 Required: Compute the current ratio, inventory turnover ratio, and accounts receivable turnover ratio (assuming that 70 percent of sales were on credit). (Round your answers to 1 decimal place.)

What is the:

current ratio?

Inventory turnover ratio?

Accounts recieveable turnover ratio?

1) According to Victor Rios, police violence should be understood not only as racial violence, but also as ________________.

a) Gender violence

b) National violence

c) Gyn violence

d) Political violence

2) According to Eric Klinenburg, which of the following are components of a sociological (denaturalized) approach to studying disasters?

a) The social morphology and political economy of vulnerability

b) The role of the state in determining this vulnerability

c) The tendencies of journalists and political officials to render invisible both the political economy of vulnerability and the role of the state in determining vulnerability

d) All the above

3) According to Eric Klinenburg, during the 1995 Chicago Heat Wave, __________ was linked to destiny.

a) Age

b) Gender

c) Geography

d) Income

4) According to Vivek Bald, early South Asian migrants to the United States often worked as:

a) Medical Doctors

b) Engineers

c) Peddlers

d) Businessmen

7. According to Walter Rodney, the question as to who, and what, is responsible for African underdevelopment is answered first that the __________ system bears major responsibility for African economic retardation by draining African wealth and by making it impossible to develop more rapidly the resources of the continent

Delta Company, a U.S. MNC, is contemplating making a foreign capital expenditure in South Africa. The initial cost of the project is ZAR10,000. The annual cash flows over the five-year economic life of the project in ZAR are estimated to be 3,000, 4,000, 5,000, 6,000, and 7,000. The parent firm’s cost of capital in dollars is 9.5 percent. Long-run inflation is forecasted to be 3 percent per annum in the United States and 7 percent in South Africa. The current spot foreign exchange rate is ZAR/USD = 3.75. Determine the NPV for the project in USD by:

a.Calculating the NPV in ZAR using the ZAR equivalent cost of capital according to the Fisher effect and then converting to USD at the current spot rate.

b.Converting all cash flows from ZAR to USD at purchasing power parity forecasted exchange rates and then calculating the NPV at the dollar cost of capital.

c.Are the two dollar NPVs different or the same? Explain.

d.What is the NPV in dollars if the actual pattern of ZAR/USD exchange rates is: S(0) = 3.75, S(1) = 5.7, S(2) = 6.7, S(3) = 7.2, S(4) = 7.7, and S(5) = 8.2?