2. Consider these different scenarios, draw an Aggregate demand curve in each case and determine the change (shift positive or negative, movement along the curve)

2.1 Government reduces taxes for consumers

2.2. There is a decrease in exports to the US

2.3. the inflation rate decreases from 4 to 2.2% in 2020

2.4. Due to the covid crisis, the unemployment rate increase from 4 to 7%

The US southern states advantage in cotton production that emerged in the 1800s reflected in part a “Biological Revolution” catalyzed in 1806 when a Mississippi planter and diplomat, Walter Burling, returned from Mexico City with seeds from some unusually appealing cotton plants. Explain how this could have impacted southern regional economic history and affect the lives of American Negro Slaves.

A survey is conducted to find out whether people in metropolitan areas obtain their news from television (Event T), a newspaper (Event N), or radio (Event R). The results show that 60% of people get news on television, 60% from newspapers, 50% from radio, 30% from television and newspapers, 25% from television and radio, 30% from newspapers and ratio, and 15% from television, newspapers and radio. a) What is the proportion of those who obtain news from television, but not newspapers? 2 b) What is the proportion of those who do not obtain news from either television or radio? c) What is the proportion of those who do not obtain news from any of these three sources? d) Given that radio is a news source, what is the probability that a newspaper is also a news source?

Utilitarianism:

The Case of the

Cheating Law Student

The Case

You are a pre-law student who will graduate at the end of the current semester. Your academic record has been impressive. You have not only earned excellent grades but have accumulated a variety of scholastic merits as well as glowing accolades from professors and fellow peers.

Recently, you were informed from a highly selective law school that you have won a very prestigious scholarship. Although your tuition, books, and living costs will be covered by the scholarship, the benefits of this award reach far beyond the walls of the law school campus. Since the early 20th Century, the same New York City law firm has sponsored this scholarship with the ultimate goal of identifying and fostering new, young talent within the arena of jurisprudence. The winner of the scholarship is, upon graduation from law school, guaranteed a position in this well-known, established law firm.

Unfortunately, however, the last semester of your undergraduate career has proven to be an exhausting one. While you are doing well in three of your classes, your last pre-law required course – Introduction to Legal Ethics – is giving you great difficulty. You are very much in jeopardy of earning a grade in this class that will pull your grade average below the scholarship requirement. In order for you to successfully secure the scholarship, your final term paper must be of ‘A+’ quality. Despite all your hard work and the extra help you have received throughout the semester, it is apparent that your term paper is not quite good enough to earn you the needed grade.

Moreover, your situation is compounded by the fact that your family cannot afford to put you through law school. Therefore, without this scholarship, your goal of becoming a lawyer will never be fulfilled. What is more, your mother is extremely ill and your younger brother, due to a serious learning disability, is in dire need of a private tutor. Both your mother’s medication and your brother’s tutorials will cost more than your family can afford. However, if you receive the scholarship, it is very likely that you will be able to help your father acquire what your mother and brother need.

After a great deal of thought, you make the decision to purchase an ‘A+’ paper from someone else and to submit it as your own work. In the end, the paper you handed in earned you the required ‘A+’, thus guaranteeing that you will win the prestigious law school scholarship.

Things to Consider:

i. How would an Act Utilitarian construe the moral acceptability of your actions?

ii. How would a Rule Utilitarian construe the moral acceptability of your actions?

A: You recently took a statistics class in a large class with n = 500 students. The instructor tells the class that the scores were Normally distributed, with a mean of 7 2 (out of 100 ) and a standard deviation of 8 , but when you talk to other students in the class, you find out that more than 30 students have scores below 45 . That violates which rule for the Normal distribution?

the 30–60–90 rule

the 1–2–3 rule

the 68–95–99.7 rule

It does not violate any rule; anything can happen.

B: In a population of Siberian flying squirrels in western Finland, assume that the the number of pups born to each female over her lifetime has mean ?=3.66μand standard deviation ?=2.9598. The distribution of squirrel pups born is non‑normal because it takes only whole, non‑negative values.

Determine the mean number of pups, x¯, such that in 90%of all random samples of such squirrels of size ?=60,, the mean number of pups born to females in the sample is less than ?⎯⎯⎯.than x¯.

You may need to use software or a table of ?-critical values. You may find some software manuals useful.

Give your answer to at least two decimal places.

?=

7. A researcher was once criticized for falsifying data. Among his data were figures obtained from 55 groups of rats​, with 44 individual rats in each group. These values were given for the percentage of successes in each​ group: 53%,​ 58%, 63%, ​46%, 48% nothing. ​What's wrong with those​ values?

A. All percentages of success should be multiples of 5. The given percentages cannot be correct.

B.All percentages of success should be multiples of 4.The given percentages cannot be correct.

C.All percentages of success should be multiples of 25. The given percentages cannot be correct.

D.All percentages of success should be multiples of 8. The given percentages cannot be correct.

8. Determine whether the underlined number is a statistic or a parameter. In a study of all 4229 employees at a college,  it is found that Modifying 45 % with underline own a computer.

A. Parameter because the value is a numerical measurement describing a characteristic of a population.

B. Statistic because the value is a numerical measurement describing a characteristic of a population.

C. Statistic because the value is a numerical measurement describing a characteristic of a sample.

D. Parameter because the value is a numerical measurement describing a characteristic of a sample.

9. Determine whether the value given below is from a discrete or continuous data set. In a test of a method of gender selection comma 683 couples used the XSORT method and 528 of them had baby girls.

A. A continuous data set because there are infinitely many possible values and those values can be counted can be counted.

B. A discrete data set because there are a finite number of possible values

C.A continuous data set because there are infinitely many possible values and those values cannot be counted

D.The data set is neither continuous nor discrete.

10. Determine whether the value is from a discrete or continuous data set.

Number of coins in a jar is 78

Is the value from a discrete or continuous data​ set?​​

A. Continuous

B. Discrete

11. Determine whether the description corresponds to an observational study or an experiment.

Thirty university students are divided into two groups. One group receives free tutoring in mathematics, the other doesn't. After one semester, scores on final mathematical examinations are compared.

Does the description correspond to an observational study or an​ experiment?

A. Observational study

B. Experiment

Who is Tim Horton's leader? Provide a description of him/her. What contributions he/she has made to the company?

Medicare is a social insurance program for elderly individuals that covers the cost of healthcare if they fall sick. Suppose a country decides to enact a similar program called BN-care because it is discovered that many elderly citizen are going bankrupt after they get sick, as the result of high medical costs.

a. What does this bankruptcy situation tell us about private insurance markets? Why might this be the case?

b. Why are consumers willing to pay for insurance, given that the payment reduces their expected lifetime income?

c. Suppose the enactment of BN-care only reduces the percent of elderly who go bankrupt after they get sick by 50%.

What might be going on? (multiple answers possible)