1. Three major approaches to analyzing the economic impact of currency depreciation are (1) the elasticities approach, (2) the absorption approach, and (3) the monetary approach.

Which of the following accurately defines and distinguishes one of these approaches?

A. According to the elasticities approach, over the long run, depreciation merely raises the domestic price level.

B. According to the elasticities approach, currency depreciation leads to the greatest improvement in a country’s trade position when demand elasticities are high.

C. According to the absorption approach, over the long run, depreciation merely raises the domestic price level.

D. According to the monetary approach, a depreciation merely lowers the domestic price level.

2. Complete the following statement explaining the effect of complete currency pass-through on a nation whose currency depreciates.

Import and export prices in a nation’s currency will change __________ ( less than or more than or proportionately to) the currency depreciation.

3. An appreciation of the U.S. dollar tends to: ______

What are GASB requirements for bonded debt?

Town Oaks’ residents want to start a fund to improve their local community. Town Oaks, a gated community, has voted to create a neighborhood park with bonded debt. The bonds will be repaid by the residents and the following transactions are related to park debt:

• The community has a tax burden for the park of $5,000,000, which is imposed on January 1, 20X7.

• Payments start at the beginning of the current year and will be paid in 10 equal annual payments.

• 5% interest is due on the unpaid installments.

• Payments and interest on the unpaid payments was collected by December 31, 20X7.

• A small amount of the assessed receivables was reclassified to current in the amount of 20X8 installments.

• The initial principal payment of $500,000 and the interest on the debt was paid to bondholders on January 1, 20X8.

Required:

• Identify the type of fund the city should impose to account for this special assessed debt.

• Prepare journal entries for the city’s transactions.

• Identify how the city should report the fund in their financial statements?

• Identify how the city should report special assessed debt in their financial statements? •

Compare the treatments of special assessed debt from the United States with at least two other countries. Would the same reporting practices be used and why?

1. Which of the following organizations would analyze their market environments, find a competitive advantage, and create a marketing mix?
A. a publisher of hunting and fishing magazines

B. a manufacturer of gym equipment

C. the United States Postal Service

D. a Pizza Hut franchise in Mumbai, India

E. all of the above

2. Finding a place to live in Mumbai, India, has been getting harder these days for people who are not vegetarians. Vegetarianism is a centuries-old custom among the Indian population, but the requirement is becoming more obvious as non-vegs are being segregated from vegs. This is important consumer information to a McDonald's franchisee and reflects how _____ shapes consumer behavior.

A. consumer expectation

B. stimulus reaction

C. culture

D. geographic segmentation

E. consumer impulse

3, Which of the following is an example of an individual factor that influences Bil Naggin's decision to buy a Sharps black powder cartridge rifle?

A. his culture

B. his interest in the Civil War

C. the fact his great-great grandfather died during the Civil War

D. the fact his favorite book is Red Badge of Courage

E. his desire to experience what it was like to be a Civil War soldier

The information contained within a paragraph is based on the topic sentence of a paragraph. The topic sentence is generally the first sentence and expresses the main idea to be developed within the paragraph.

a) Look at the topic sentences below and discuss what kinds of information you would expect to follow.

1. The government of the United States of America consists of three main branches.

2. The world-wide increase in road transport is a serious threat to the natural environment.

3. Deforestation has a direct effect on food supplies.

4. Although development in the Third World is intended to increase self-reliance, the actual result is often increased dependence on the West.

5. There is a mistaken idea that, because of pocket calculators, children no longer need to learn how to do basic arithmetic.

6. When it comes to the arts, there is a clear case for subsidy.

7. There are no grounds for subsidizing the arts.

8. The British attitudes towards food are very different from the attitudes in my own country.

9. My grandfather/grandmother is/was very easy/difficult to get on with.

10. There are no justifications for any country possessing nuclear weapons.

11. There are a number of reasons to justify a country possessing nuclear weapons.

b) Take one of the sentences a write a paragraph.

Please use the economics knowledge you have learned so far to analyze the case below. You can propose your own questions and then answer them. Remember, there is no absolutely correct answer to this exercise. Its purpose is to provide you an opportunity to demonstrate your ability to think like an economist by applying economic principles to interpret the logic of a real-world phenomenon. Why Is JPMorgan Chase Laying Off Workers? Many workers lost their jobs during the 2007–2009 recession and the banking industry was hit especially hard. JPMorgan Chase, the largest bank in the United States, saw its profit decline by two-thirds from 2007 to 2009. By 2015, the U.S. economy and JPMorgan were well into a recovery, but banks were still struggling for three key reasons: Interest rates remained at low levels, increased regulation caused some banks to stop certain activities—such as making student loans—and technological change resulted in more activity taking place online. In May 2015, JPMorgan announced it would lay off 5,000 workers. Three other banks—Bank of America, Citigroup, and Wells Fargo—also laid off workers for similar reasons.

For a given AD curve, a reduction in the availability of labor or raw materials would cause the short run aggregate supply to shift to the left which would cause prices to fall and output to increase in the short run.

Select one:

True

False

According to the AD/AS model, an economic contraction caused by a leftward shift of aggregate demand remedies itself over time as the expected price level falls, shifting the short run aggregate supply rightward.

Select one:

True

False

According to the AD/AS model, if the long-run aggregate supply curve is vertical then the economy will always return to the level of output that occurs when the rate of unemployment is at its natural level.

Select one:

True

False

The sticky price theory of short-run aggregate supply says that when the price level falls unexpectedly, some firms will have higher than desired prices which increases their sales.

Select one:

True

False

As the United States entered World War II in the early 1940s, the U.S government increased military expenditures that caused the aggregate demand curve in the U.S. to shift to the left and that caused the rate of unemployment to rise to historic levels.

Select one:

True

False

Week 3 Homework

For this assignment, you will research information related to the GDP (Gross Domestic Product). This will help you practice using the Internet as a research tool for finding financial information and you will gain insights about how the United States participates in the global economy by providing goods and services to other countries.

Use the Week 3 GDP Homework Word Document template provided below to complete your assignment before uploading it to the assignment submission area.

Instructions:

Use a search engine such as Google to do the following:

1. Define GDP in your own words.
2. Report the current GDP in trillions of dollars.
3. Report the current Federal debt in trillions of dollars.
4. Report the outlays for the bottom line of the current (last) budget approved by Congress (surplus or shortage).
5. Report the revenues for the bottom line of the current (last) budget approved by Congress (surplus or shortage).
6. Report the deficit for the bottom line of the current (last) budget approved by Congress (surplus or shortage).
7. Report the debt held by the public for the bottom line of the current (last) budget approved by Congress (surplus or shortage).
8. Discuss the inferences drawn from the numbers collected and provide insight about the impact of the numbers on the American economy in a response that is at least 5 sentences in length

Over the decades trade volume has increased due to reduction in tariffs, increased trade agreements, and subsidies among other trade enhancing measures. Gerber (2018) observed that the trade system has established trading rules and reduced tariffs under the GATT and WTO umbrellas. Although there has been significant reduction in tariffs and trade barriers there are still advances to eliminate tariffs even further. One might argue that such a move would only have diminishing returns to trade negotiations and a minor impact on GDP. Why would nations then continue to desire further market openings? Please respond to either following and use examples where applicable: NB: You can choose to respond to 1 or 2 but 3 is mandatory. So, in total respond to at least 2 topics, 3 being one of the 2 topics. Cite at least three reasons why economists trade openings. Explain why costs to consumers of a tariff or quota are greater than the net welfare costs to the nation. Which industries are more heavily protected in the United States and Japan? Are high income or low-income nations more affected by American and Japanese trade barriers? Explain.

PICK ONE TOPIC AND WRITE ABOUT IT (maybe 3 pages?) or as much as you can :)

1. Discuss and explain in detail the legacy (inheritance) you want to leave behind for your children?

2. If you were granted three wishes for the present or future what would you wish for and why? Discuss and explain in detail.

3. Discuss in detail five things on your bucket list, and explain why you want to accomplish them in your life time.

4. If you were the President of the United States what policy would you make into law to support economic growth for the country? Discuss and explain in detail.

5. How does compassion for others influence your connection with other human beings outside of your family and friends? Discuss and explain in detail.

6. What is your favorite home cooked meal? Discuss and explain in detail why you chose that meal?

7. What is your favorite childhood story that you read or that was read to you as a child? Discuss and explain in detail why that story is your favorite.

8. If you could do one thing to unite a divided country what would you do and why? Discuss and explain in detail.

For each of the examples below, draw (or describe drawing) a sampling distribution around the reported mean, mark the upper and lower limits of the 95% confidence interval, and compute the mean values that correspond to those upper and lower limits.

1. Dr. Grimm collected a random sample of 30 sociology majors and administered an IQ test (σ = 15). This group had an average IQ of M = 105. Compute a 95% confidence interval to determine the population mean of psychology majors’ IQ scores.

2. According to 2016 data from the Centers for Disease Control and Prevention, the average life expectancy in the United States is 78.6 years, with an approximate standard deviation, σ, of 15 years. A random sample of 45 dead rock musicians finds an average age of death of 45.2 years. Calculate a 95% confidence interval to determine the population mean of a rock musician’s life expectancy.

3. Dr. Morris collects information on text messaging from a random sample of 50 adults ages 25 to 44. Dr. Morris finds that these individuals send or receive an average of 75 text messages per day. Using a standard deviation, σ, of 22, calculate the 95% confidence interval for the average number of texts sent by adults in this age group.