1) Fiscal policy entails changes in

A) the quantity of money.

B) the MPC.

C) government spending and taxes.

D) the multiplier.

2) If we compare the United States to France, we see that potential GDP per person in France is ________ than that in the United States because the French ________ is greater than that in the United States.

A) greater; tax wedge

B) less; structural deficit

C) less; tax wedge

D) less; MPC

3) A fiscal action that is triggered by the state of the economy is called

A) monetarist policy.

B) the tax wedge.

C) automatic fiscal policy.

D) the multiplier.

4) An example of a fiscal policy designed to decrease real GDP is

A) a cut in taxes.

B) an increase in taxes.

C) an increase in government expenditure.

D) None of the above answers is correct.

5) A decrease in government expenditures on goods and services is an example of ________.

A) a fiscal policy designed to increase real GDP

B) decreasing needs-tested spending programs

C) increasing induced taxes

D) a fiscal policy designed to decrease real GDP

6) An increase in taxes

I.    violates the Taylor rule.

II.   decreases real GDP.

III. forces the Fed to change its instruments.

A) I only

B) II only

C) I and III

D) I and II

7) An example of a fiscal policy designed to increase real GDP is

A) a cut in taxes.

B) an increase in taxes.

C) a decrease in government expenditure.

D) None of the above answers is correct.

8) An economy has real GDP of $300 billion and potential GDP of $240 billion. To move the economy to potential GDP, the government should ________ taxes and/or ________ government expenditure.

A) increase; increase

B) increase; decrease

C) decrease; increase

D) decrease; decrease

9) The crowding out effect refers to

A) the presence of the Ricardo-Barro effect.

B) how a cyclical budget deficit changes over the business cycle.

C) government investment crowding out private investment.

D) the wealth effect's impact on the aggregate demand curve.

10) The Fed's instruments include

A) open market operations.

B) the structural budget deficit.

C) the Ricardo-Barro effect.

D) the federal funds rate base.

11) The Laffer curve studies the relationship between

A) open market operations and the interest rate.

B) taxes and the real interest rate.

C) tax rates and tax revenues.

D) monetary policy and tax revenues.

12) An income tax hike ________ potential GDP by ________.

A) increases; not crowding out investment

B) decreases; limiting the use of discretionary monetary policy

C) increases; offsetting the Barro-Ricardo effect

D) decreases; decreasing the supply of labor

13) If net taxes are less than government outlays, the government sector has a budget ________ and government saving ________.

A) surplus; is positive

B) deficit; cannot be used for discretionary fiscal policy

C) deficit; is negative

D) None of the above answers is correct.

14) The Fed can change the federal funds rate

A) lowering taxes.

B) increasing spending.

C) purchasing government securities.

D) increasing aggregate demand.

15) A decrease in the reserves of commercial banks could be the result of

A) an increase in the velocity of circulation.

B) the sale of government securities by the Federal Reserve.

C) a decrease in the velocity of circulation.

D) an increase in the required reserve ratio.

16) If the Fed makes an open market ________ of government securities, the federal funds rate will ________ as the quantity of money ________.

A) purchase; rise; increases

B) sale; fall; increases

C) purchase; fall; decreases

D) sale; rise; decreases

17) If the Fed makes an open market ________ of government securities, the federal funds rate ________ and the immediate impact is to shift the aggregate ________ curve.

A) purchase; falls; demand

B) sale; falls; demand

C) sale; rises; supply

D) purchase; rises; supply

18) If the Fed makes an unexpected open market ________ of government securities, the aggregate ________ curve shifts rightward and ________.

A) sale; supply; the short-run Phillips curve shifts upward

B) purchase; demand; the short-run Phillips curve shifts downward

C) sale; demand; there is a movement along the short-run Phillips curve

D) purchase; demand; the long-run Phillips curve shifts rightward

19) When the Fed enacts monetary policy, in the short run it changes

A) the AD curve.

B) the SAS curve.

C) both the AD and SAS curves.

D) potential GDP.

20) If the economy is at potential GDP and the Fed makes an open market sale of government securities, in the long run the aggregate ________ curve shifts ________ and the price level ________.

A) demand; rightward; rises

B) supply; leftward; rises

C) demand; leftward; falls

D) supply; leftward; falls

21) If the economy is at potential GDP and the Fed makes an open market purchase of government securities, in the short run bank reserves ________, the nominal interest rate ________, and the aggregate demand curve ________.

A) stay constant; does not change; does not shift

B) increase; rises; shifts rightward

C) decrease; falls; shifts rightward

D) increase; falls; shifts rightward

22) If the Fed is concerned with lowering ________ it will make an open market ________ of government securities, which will shift aggregate demand curve ________.

A) inflation; sale; leftward

B) unemployment; sale; leftward

C) inflation; purchase; rightward

D) unemployment; purchase; leftward

23) If the Fed is concerned with lowering ________ it will make an open market ________ of government securities, which will ________ real GDP.

A) unemployment; sale; increase

B) inflation; purchase; decrease

C) inflation; sale; decrease

D) unemployment; sale; decrease

24) Which of the following is true?

I.    The quantity theory predicts that in the long run the inflation rate equals the money growth rate minus the growth rate of potential GDP.

II.   If the Fed decreases the federal funds rate, aggregate demand increases.

III. The Fed's monetary policy works by shifting the short-run aggregate supply curve.

A) I and II

B) II and III

C) I and III

D) I, II and III

25) ________ occurs when a foreign firm sells its exports at a lower price than its cost of production.

A) A quota

B) Dumping

C) A tariff

D) A nontariff barrier

please answer everything and correct thankyou

As the auditor of Komsu Air Limited (KAL) that manufactures and installs large commercial airconditioning systems. KAL typically has two or three large contracts (ranging from $6 million to $10 million each) in progress at any one time. The contracts usually take up to six months to complete, although unexpected on-site difficulties can result in lengthy delays in completion (of up to 12 months). KAL finances its operations with a mixture of equity, long-term debt (secured by fixed assets) and short-term bank loans.

It is now May 2017 and your planning of the audit of KAL for the year ended 30 June 2017 is nearing completion. You have met with the management of KAL and, from those discussions and a review of the preliminary information provided by KAL, you have identified several issues that may have implications for the company’s ability to continue as a going concern. The relevant issues are as follows:

 Competition in the industry is becoming more intense, with some customers now installing their own systems.

 KAL’s bank has requested cash flow forecasts for the coming year to support the short-term loans. It has indicated that it may need to withdraw funding or restructure debt if the forecasts are not adequate. The review of work-in-progress indicates that all the contracts in progress at year end are due for completion within six months of the balance date. There are no new contracts in place for the coming year, although management has indicated that there are orders currently being negotiated. The nature of the business is such that sales will fluctuate considerably from year to year depending on the timing of one or two large contracts.

 Assets consist chiefly of plant and equipment, some of which is specialised to the industry. Debtors are significant, but recoverability is not considered an issue as the ongoing projects are with reputable customers and management is not aware of any problems. Creditor balances are at normal levels, and the company is in a positive working capital position.

 Included in provisions is a large provision for warranty for one of KAL’s jobs completed at a hotel two years ago. It appears that the air-conditioning system is still not working and the hotel is now requesting a substantial refund of the contract price.

Required:

Explain whether you believe the area of going concern should be assessed as high risk and mitigating factors for KAL’s audit for the year ended 30 June 2017. (10 marks, maximum 300 words)

1) Find the minimum number of football fans required in a poll to estimate, within 1.5%, the percentage who believe that LeBron James could play in the NFL. Use 90% confidence, and assume no prior estimate of the percentage in question is available.

Select one:

a. 2037

b. 23

c. 609

d. 3007

2)Your professor wishes to estimate the proportion of high school students enrolled in college-level courses each school year. How large a sample is necessary if she wishes to be 90% confident with a margin of error of 3.5 percent? From an old 1999 study, the percentage of high school students enrolled in college-level courses was estimated to be 18.3%.

Select one:

a. 330

b. 469

c. 810

d. 331

3)In a sample of 56 tax returns filed by local hotel managers in a recent year, the taxable incomes are found to have a mean of $41225 and a population standard deviation of $6112. Construct the 99% confidence interval for the mean taxable income of all local hotel manager that year.

Select one:

a. 39255 < Mu < 41259

b. 39624 < Mu < 42826

c. 39122 < Mu < 43328

d. 39121 < Mu < 43327

4)Noise levels at various area urban hospitals were measured in decibels. The mean of the noise levels in 84 corridors was 61.2 decibels, and the population standard deviation was 7.9. Find the margin of error for a 90% confidence interval for the mean.

Select one:

a. 10.9844

b. 6.1392

c. 1.4179

d. 2.2579

In a study of 10 insurance sales representatives from a certain large city, the average age of the group was 48.6 years with a standard deviation of 4.1 years. Find the 90% confidence interval of the population mean age of all insurance sales representatives in that city.

Select one:

a. 45.63 < Mu < 48.50

b. 46.23 < Mu < 50.99

c. 46.22 < Mu < 50.98

d. 46.47 < Mu < 50.73

5)Your professor wishes to estimate the proportion of ALL high school students enrolled in college-level courses each school year. A sample of 1500 students revealed that 18.3% were enrolled in college-level courses. Find the margin of error for a 99% confidence interval for a proportion.

Select one:

a. .00988

b. .01642

c. .01957

d. .02571

Using the governmental- and proprietary type funds, indicate which would be used to record each of the following events.

GF General Fund

SRF Special Revenue Fund

DSF Debt Service Fund

CPF Capital Projects Fund

PF Permanent Fund

EF Enterprise Fund

ISF Internal Service Fund

HINT: Some events require the use of two funds to record them. Be sure to select the answer that reflects the appropriate order in which the journal entries would be recorded into both funds.

1. Bonds were issued by the fund used to account for providing water to the residents of a municipality.

2. The fund that finances the city’s basic day-to-day operating activities lent $50,000 to the fund that will provide city agencies with supplies on a user charge basis.

3. The city-operated utility that provides electricity to the residents of a municipality billed the city for electricity provided to city agencies.

4. The city charter requires all hotel taxes to be accounted for in a separate fund dedicated to maintaining the downtown business district. Hotel tax collections for the period were $500,000.

5. Salaries were paid to the city’s police officers and firefighters.

6. The state lottery, which operates like a business entity, sent a check for its net revenues (after paying lottery prizes) to the state. The state will add these revenues to general state revenues as part of the state’s program for financing elementary and secondary education.

7. Interest and principal on the city’s general obligation debt were paid, using resources accumulated specifically for that purpose.

8. The fund that finances the city’s day-to-day operating activities transferred cash to the fund that pays principal and interest on outstanding debt.

9. The city sold general obligation bonds to buy land as part of a city hall expansion program.

10. The city’s central motor pool billed each city department for use of vehicles.

11. The state established a highway beautification program, to be financed by dedicating a new motor vehicle license fee to that purpose.

12. A wealthy taxpayer donated securities to a village, stipulating that the donation be kept in perpetuity and that the resulting investment income be used solely to help support the activities of the village library.

13. The state-operated toll road collected tolls of $1 million.

14. The village maintains a perpetual-care public cemetery fund. Income from that fund was transferred to the fund that accumulates resources dedicated to maintaining the cemetery.

NewTech Medical Devices is a medical devices wholesaler that commenced business on June 1, 20X1. The company purchases merchandise for cash and on open account. In June 20X1, NewTech Medical Devices engaged in the following purchasing and cash payment activities:

Required:

2a. Post the transactions to the appropriate accounts in the general ledger.

2b. Post the transactions to the appropriate accounts in the accounts payable ledger.

3. Prepare a schedule of accounts payable at June 30, 20X1.

GENERAL LEDGER ACCOUNTS

ACCOUNTS PAYABLE LEDGER ACCOUNTS

BioCenter Inc.
New Concepts Corporation
Park Research

Analyze:
What was the amount of merchandise returned to vendors by NewTech Medical Devices in June?

Question 1

Alex is a young investor with high risk tolerance level and hopes to earn money as fast as he can. Analyse each of the following plans and evaluate which is the most suitable plan for Alex.

(1) Dollar-cost averaging
(2) Constant-dollar plan
(3) Constant-ratio plan
(4) Variable-ratio plan

Question 2

An investor estimates that next year’s net income for Hilary Pullman Hotel would be RM 8 million. The company has 0.5 million shares outstanding and decided to pay RM 0.5 million to the preferred stockholders from its net income. Listed companies similar to Hilary Pullman Hotel have been recently reported to have an average price/earnings ratio of 4 times. Given the information, calculate the expected price of the stock and evaluate the problems in using Price/earnings ratio method of valuing the shares of a company.

Question 3

Two securities – PohKeong Gold and Mama Care are currently being considered by Jason. He is considering either to invest 100% in PohKeong Gold or building a portfolio that consist of both security – 60% in PohKeong Gold and 40% in Mama Care. The probability distribution of expected returns of these assets are shown in the following table.

State of Economy Probability Return on PohKeong Gold Return on Mama Care
Bear 0.30 3% 2%
Bull 0.70 18% 10%

(i) Calculate the expected return for each of the two alternatives.
(ii) Calculate the standard deviation of returns of the two alternatives.
(iii) Evaluate the investors decisions, based on the above calculations

Question 4

Given the following situations, evaluate in each scenario whether the hypothesis of an efficient capital market of semi-strong form is violated.

(i) Through the introduction of an advanced webinar into the analysis of the past share price movements, a brokerage firm is able to predict price movements are able to earn consistent 1% profit more than normal market returns after adjusted for risk.

(ii) On average, investors in the stock market this year are expected to earn a positive return on their investment. Some investors will earn considerably more than others.

(iii) You have discovered that the square root of any given stock price multiplied by the day of the month provides an indication of the direction in price movement of that particular stock with a probability of 20%.

Please provide a step by by step solution

Please key these names in alphabetical index filing order accordint to the ARMA rules

1. James Danforth, Jr.
2. Burns Travel Agency
3. Strathcona County Water Department
4. Norton R. Henson
5. Sister Marie O’Doul
6. The Lone Ranger Riding Supplies
7. The Jefferson Party House
8. El Rancho Inn
9. Cecil Young-Jones
10. RCT Manufacturers
11. Administrative Management Society
12. Hotel Baker
13. Triple-Star Enterprises
14. Miss Robert’s Charm School
15. Acadia University, Wolfville, Nova Scotia
16. Bob Guerin
17. William T. Au
18. Thomas Kaplan, M.D.
19. Irene McGregor
20. Arthur P. Van der Linden
21. Ontario Municipal Board
22. John Wilkins Supply Corp.
23. Southwestern Distributors
24. Department of Employment and Immigration
25. Four Corners Answering Service
26. Reliable Answering Service
27. Montgomery Ward & Co.
28. South East Pipeline
29. Webbers’ Home for the Aged
30. People’s Republic of China
31. Prince Albert Printing Co.
32. The Mercantile Bank of Canada
33. Aero Bolt and Screw Co., Montreal
34. Strong Memorial Hospital
35. Surv-Ur-Self Pastries, Inc.

36. Danforth James Jr

37. Agency Burns Travel

38. Department Strathcona County Water

39. Henson Norton R.

40. O’Doul Sister Marie

41. Supplies The Lone Ranger Riding

42. House The Jefferson Party

43. Inn El Rancho

44. Young-Jones Cecil

45. Manufacturers Rct

46. Society Administrative Management

47. Baker Hotel

48. Enterprises Triple-Star

50. Wolfville University Acadia

51. Guerin Bob

52. Au William T.

53. Kaplan Thomas MD

54. McGregor Irene

55. van der Linden Arthur P.

56. Board Ontario Municipal

57. Corp. John Wilkins Supply

58. Distributors Southwestern

59. Immigration Department Of Employment And

60. Service Four Corners Answering

61. Service Reliable Answering

62. Co. Montgomery Ward &

63. Pipeline South East

64. Aged Webbers’ Home For The

65. China People’S Republic Of

66. Co. Prince Albert Printing

67. Canada The Mercantile Bank Of

68. Montreal Co. Aero Bolt And Screw

69. Hospital Strong Memorial

70. Pastrie Surv-Ur-Self

For each of the scenarios below, choose the strategy that you believe should be pursued to achieve the best results, and provide a brief explanation of why you believe this is the best strategy.

5 Generic Strategies

Low-Cost Provider Strategy

Broad Differentiation Strategy

Focused Low-Cost Strategy

Focused Differentiation Strategy

Best-Cost Provider Strategy

Scenarios:

1. A new waterfront development project is beginning in a medium-size city. This project will include moderate to higher-end shopping, restaurants, and hotels. Some of these businesses include: Pottery Barn, Ann Taylor,an Apple Store, Sasha’s Dress Boutique, Apostrophe, Bose, Calvin Klein, Cheesecake Factory, Capital Grille,Maggiano’s, the Marriott, and the Westin. The spaces will include a mixture of national chains, and local businesses. The project and the city have been highlighted in national papers for the expected success of the project and renewed attraction to the city. The Sully Hospitality group is determining if they want to open a boutique hotel in this area. What strategy should Sully adopt to develop the type of boutique hotel would best- fit this project? Provide a brief explanation.

2. A new shopping center is being developed – the main anchors are Wal-Mart and Home Depot. The other parcels will include smaller establishments of fast-food and other convenience category businesses.McDonald’s is interested in this project but has to determine how they would approach this location. The options are:

Put a McDonald’s Express inside the Wal-Mart

Purchase an out-parcel at the front of the project with high traffic volume and build a traditional

McDonald’s

Purchase an out-parcel at the front of the project with high traffic volume and build a McCafe

Which generic strategy should be McDonald’s use to guide this decision? Based on the generic strategy that you believe is most appropriate for this scenario, which option should McDonald’s choose? Provide a brief explanation.

3. The airline industry has seen various players attempt all of the generic strategies. Given the current state of the airline industry and the main surviving airlines, if a company wanted to get into this industry right now, which strategy would promote the best chances for success? Provide a brief explanation.

4. The top five selling brands of tablets in the world are: 5. Acer, 4. Dell, 3. Sony Vaio, 2. Lenovo, and 1. Apple. A new start-up company wants to break into the tablet market; what generic strategy should they adopt? Provide a brief explanation.

When Kim Smith graduated with a degree in civil engineering, she pictured herself designing buildings and managing construction. She never imagined herself behind a computer writing reports. However, that is exactly where Kim finds herself today. She has just finished a major project: an environmental assessment of a plot of land on which a client wants to build an office park. Emily, the senior engineer on the project has asked Kim to write the client report. When Kim asked Emily if she could give her a model to follow, Kim pointed to the file cabinet and said, "Sure, you'll find lots of reports in there." Kim found a lot of reports: long ones, short ones, letter reports, and memo reports. The diversity confused her, but she was glad that she saved her business communication textbook from Concordia University. Kim begins writing her report using the 3x3 Writing Process. Her audience, the CEO of Halvorson Properties, wants to know whether it is safe to build an office park on the property he owns. Because this decision has significant financial and environmental effects, Kim decides to write a formal letter report that clearly communicates the message that the property is safe. Kim's research indicated that the site has not been affected by hazardous waste or contaminated groundwater. In the body of the report she will provide enough details about her methodology and findings to give Mr. Halvorson confidence in the assessment. With those decisions in mind. Kim sits down and write's the following report introduction: Dear Mr. Halvorson: At your request, we have conducted an investigation of the site defined by the attached survey map for the purposes of rendering an opinion as to whether the site contains hazardous waste or is being impacted by contaminated groundwater. Our investigation consisted of making soil borings and visual observations of the ground surface, vegetation, and drainage patterns and laboratory testing of soil samples. The testing included physical properties testing and chemical testing of the water extracted from the soil. In addition, we have examined various maps and aerial photos, contacted various government agencies, and contacted the power company in our efforts to determine whether the hazardous waste is known to have impacted the site. our findings are as follows: Your task is to revise Kim's introduction and rewrite it to promote clarity and conciseness.