Recent analysis of US labor market data from the last 3 decades shows the following 4 trends. Describe how each one of these trends might reflect allocation of labor supply (labor force participation, desired work hours and utility) responses to underlying changes in wage rates (applying net substitution and income effects) in the paid labor market:

A) among the relatively lower paid (below median) work force, there is both an increase in annual work hours among those who have some attachment to the work force while also a rise in those worked zero annual hours (i.e., non-labor force participation);

B) average annual hours among salaried workers are lengthening more than the hours among hourly-paid workers;

C) rates of labor force participation among teenagers has declined;

D) rates of labor force participation among women with children rose markedly but then leveled off (became constant)

business law.

1. How is tort law different from the other types of US common law?

A. It is a response to the problem of injury.

B. The other answers describe contract law, property law, and criminal law.

C. It arises from mutual agreements.

D. It regulates ownership.

E. It penalizes wrongful actions on behalf of the public.

2. Which of the following is NOT a goal of tort law?

A. Making people honor their agreements

B. The answer is a goal of contract law, not tort law

C. Compensating victims of injury.

D. Deterring dangerous behavior.

E. Punishing recklessness and malice.

F. Forcing businesses to internalize their costs

3. Under the Massachusetts state court’s ruling in the historic “fighting dogs” case of Brown v. Kendall (1850):

A. A plaintiff is entitled to compensation if the defendant acted unreasonably.

B. A plaintiff is entitled to recover if the defendant is at fault.

C. A plaintiff who is partly at fault for his or her injury can never recover damages.

4. Recognized defenses in a common law tort action do not include

A. Self-defense. B. Defense of property. C. Honest mistake of the law.

5. Under the rules of US common law, a stranger who happens to witness an accidental injury in progress and who is in a position to help:

A. Has a legal obligation to intervene with assistance.

B. Has a legal duty to not get involved, because meddlers can possibly make things worse for the victim.

C. Has no duty to rescue and is potentially liable for injuries caused in a botched rescue attempt.

True or False:

The U.S. Constitution contains mainly detailed rules about how state officials are chosen and removed, how laws are passed, how the court system run and how finances and revenues are paid and collected.

Let us examine the financial implications of decision making. What we also learn from the reading materials is that financial outcome of decision could have far reaching implications. Are there situations in which outcomes of decision making are not financial? Please discuss your answers.

from urllib import request
import json

"""
Complete this program that calculates conversions between US dollars and other currencies. (Please use Pyton 3.8)

In your main function, start a loop.
In the loop, ask the user what currency code they would like to convert to
And, how many dollars they want to convert.

If you scroll down, you can see an example response with the available 3-letter currency codes.

Call the get_exchange_rates() function. 
This function returns a dictionary with another dictionary inside it. 
You'll need to get the exchange rate from the dictionary.

If the user enters a currency code that is not in the dictionary, your program should not crash.
It should print a message saying the code was not found, and repeat the loop so they can try again.

Then, do the math. For example, if the user wants to convert $100 to Euros (EUR), 
and the exchange rate is 0.874, then you need to multiply the US Dollar amount by 
the exchange rate to get the amount in Euros. So to convert $100 to Euro, 100 * 0.874 = 87.4 Euro.

Display the result to the user. Format the number to 2 decimal places.

Don't modify the get_exchange_rates function or the example_exchange_rates function. 
These functions get data from exchangeratesapi.io. If this site is not available or your 
computer is not online, then get_exchange_rates will return an example dictionary that is the 
same structure as the exchangeratesapi.io response. This is not an error - your program will
do the same thing for real data as it does for example data.

"""


def main():
    # TODO write your code inside this main function.
    print('Remove this print statement, and then write your code here.')




# You do not need to modify any code below here.  There's a call to main at very end of this file.

def get_exchange_rates():
    """" Connect to the exchangeratesapi.io server and request the latest exchange rates,
    relative to US Dollars.  Return the response as a dictionary. """

    url = 'https://api.exchangeratesapi.io/latest?base=USD'

    try:  # Attempt to connect to the exchangeratesapi server
        response = request.urlopen(url).read()   # and get the server's response
        data = json.loads(response)   # convert the response to a Python dictionary
        return data # return the dictionary
    except:  # this code runs if there's any error fetching data.
        # It returns some example data, that has the same structure as real data, to use instead
        # So it's no problem if you don't have an internet connection or the exchangeratesapi server is down.
        print('There was an error fetching real data. Perhaps you are offline? Returning example data.')
        return example_exchange_rates()


def example_exchange_rates():
    """ In case the exchangeratesapi.io is not available, the program will use this example data.
     This data has the same structure as real data, so your program doesn't need to worry if real data
     or example data is used. """
    example_data = {
       "base": "USD",
       "date": "2019-01-30",
       "rates": {
          "ISK": 119.8705048561,
          "CAD": 1.3221629189,
          "MXN": 19.0960713973,
          "CHF": 0.9977250853,
          "AUD": 1.3898853793,
          "CNY": 6.7168606177,
          "GBP": 0.7642050923,
          "USD": 1.0,
          "SEK": 9.0859217779,
          "NOK": 8.4817569341,
          "TRY": 5.2750021874,
          "IDR": 14130.0026249016,
          "ZAR": 13.6043398373,
          "HRK": 6.4953189255,
          "EUR": 0.8749671887,
          "HKD": 7.8451308076,
          "ILS": 3.6677749584,
          "NZD": 1.4632076297,
          "MYR": 4.1057835331,
          "JPY": 109.4408959664,
          "CZK": 22.5759034036,
          "SGD": 1.3510368361,
          "RUB": 65.9388397935,
          "RON": 4.1605564791,
          "HUF": 276.9533642488,
          "BGN": 1.7112608277,
          "INR": 71.1794557704,
          "KRW": 1118.1905678537,
          "DKK": 6.5314550704,
          "THB": 31.3798232566,
          "PHP": 52.3002887392,
          "PLN": 3.7540467232,
          "BRL": 3.7091609065
       }
    }

    return example_data


main()

Please give us one example from your research, work, or personal life of an application whilw Describing what concepts of Financial Economics and the contexts within which it is practiced. Describe the elements of financial statement analysis and how they are applied Explain the principles of Finance Describe how these principles apply in managerial and economic contexts.

Analysis of South American Operations

Claire Jackson (CEO) of Easy Learning (EL) is considering discontinuing operations in South America, which are based in Argentina. For a variety of reasons it has been a challenge for EL to grow the busi- ness in this region and costs continue to rise because of high inflation. Results from the most recent fiscal year just ended are shown below.

Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $400,000

Variable expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180,000

Contribution margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $220,000

Fixed expenses .................................                               310,000

Operating income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . ($90,000)

If the South American operations are discontinued, Jackson has identified the following implications:

1.  Assets with an original cost of $485,000, mostly leasehold improvements and computer equipment, can be sold for $15,000. Assume that the assets are completely written off for both accounting purposes and tax purposes (i.e., $0 NBV and UCC) and that the salvage proceeds of $15,000 are not taxable. 


2. Severance pay for the three full-time employees will total $50,000. Severance pay is a tax deductible expense. 


3.  Of the total annual fixed expenses of $310,000, $40,000 represents an allocation from head office for computer support and will continue to be incurred even if the South American operations are discontinued. 


4.  The corporate tax rate in Argentina is 35%. 


Jackson is also considering the option of trying to make the South American operations profitable. She believes that with more emphasis on marketing and sales, EL could be successful. Details and assumptions made by Jackson for this option are as follows:

1.  To increase sales, an additional marketing specialist would be hired immediately at an annual cost of $110,000 including benefits. This is $20,000 higher than the next highest paid employee in EL's Argentina office. 


2.  The new marketing specialist should be able to acquire two new customers in each of the next two years and each customer will generate annual revenue of $100,000. One additional new customer will be acquired each year thereafter and each will generate annual revenue of $100,000. 


3.  Hiring a new marketing specialist will necessitate the purchase of office furniture with a total cost of $5,000. The CCA rate in Argentina for office furniture is 10%. Assume there is no CCA half- year rule in Argentina. 


4.  EL will not lose any existing customers over the next five years and will be able to retain all newly acquired customers over that same period. This contrasts with the typical churn rate for high-tech companies of about 20% per year. 


5.  Variable expenses will continue at the same rate as in the most recent fiscal period for the next five years. 


6.     The marketing specialist will receive a commission of 10% of revenue generated from new cus- tomer acquisitions. 


7.  Existing total fixed expenses of $310,000 per year, including the $40,000 allocation from head of- fice for computer support, will be unchanged for the next five years. 


Required:

1.    Should the South American operations be discontinued or should Jackson hire a new marketing 
specialist in an attempt to grow the business? Because of the uncertainty in the South American operating environment, Jackson wants you to preparee your analysis of the two options for a five- year period. EL has a required return of 12%. 


2.  Regardless of your recommendation for part 1, what qualitative factors should Jackson consider when deciding whether or not to discontinue operations in South America? 


3.  Assume that the marketing specialist will be able to acquire two new customers in the first year, but thereafter only one new customer will be acquired each year. Each new customer will generate an- nual revenue of $100,000. Given this new assumption, revise your analysis of the option to con- tinue operations in South America. Assume all other details and assumptions regarding this option remain unchanged. Should the operations be discontinued or should the new marketing specialist be hired? 


4.  What do the results of the revised analysis in part 3 above suggest about the riskiness of the option to hire a new marketing specialist? How could this risk be incorporated in your analysis? 


1. Your friend Nigel is a management graduate and therefore has little chance of finding a job outside the fast-food industry. Luckily for him, Nigel's rich uncle has left him $20 million in his will. Having been a management student, Nigel partied while you studied. In fact, he took no courses in finance and thus knows nothing about investment. In a drunken stupor, late one Saturday night Nigel watched an interview with the Guru Jack ma. The Guru claims material wealth lies beneath the ground in Melbourne. It is clear from the tone of the interview, the title of the documentary was "An interview with a crackpot," that the interviewer and the "experts" on the show think the Guru is insane. However, Nigel believes in the Guru because his management training taught him to believe in gurus (Peter Drucker, for example). Nigel decides to use his new-found fortune to prove the Guru correct, making himself one of the richest people in Australia in the process! Nigel knows you have superior intellect (otherwise you wouldn't be in Finance) and asks you to work out the details. After some discreet investigation you find the homes and land can be purchased for $15 million. In addition, the local council insist on a $4 million fee for defacing the views from the city. Finally, it costs $1 million to lease the mining equipment. You and Nigel meet with the Guru and after several hours of meditation the Guru provides you with estimated annual after-tax cash-flows. These cash-flows are in millions and are provided to you below in table 2-1. Nigel thinks the cash-flows sound fantastic (compared to a career flipping burgers. Who wouldn't), you however decide to check the numbers using what you have learned in Finance. You believe the project is very risky and therefore in consultation with Westpac Bank Risk Management team decide to use a discount rate of 23%.

1. Should Nigel invest his fortune based on the crackpot's ideas?

2. Would your decision change if you used a discount rate of 18% or 10% ? Support the answer with the NPV and IRR.

              Table 2-1

               Projected Cash Flows

1. Results of the Youth Risk Behavior Surveillance Survey indicate that 15% of young adults are heavy drinkers, 65% are moderate drinkers, and 20% are non-drinkers. The University of South Dakota conducts its own survey, and finds the following:      

Is the distribution of alcohol consumers on the University of South Dakota campus approximately normal? Use α = .05 as your level of significance.

An instructor at a major research university occasionally teaches summer session and notices that that there are often students repeating the class. Out of curiosity, she designs a random sample of students enrolled in summer sessions and counts the number repeating a class. She counts 105 students in the sample, of which 19 are repeating the class. The university enrolls 15,000 students.

A 95% confidence interval is given by:

(0.09, 0.272).

(0.107, 0.255).

(0.15, 0.23).

(0.345, 0.453).

In each of the following sets of variables, which are likely candidates to be treated as independent and which as dependent within a research study?

• Gender, alcohol consumption, and driving record In the following set of variables

• High school GPA (grade point average), university freshman year GPA, choice of university major (selected before enrollment), race/ethnicity, and gender

• Age, race/ethnicity, smoking habits, and occurrence of breast cancer

Explain each answer please.