Q.6 As new regulation bans smoking in many areas, the demand for cigarettes has decreased. Now people spend their money on other products (denote as Y). Draw the graphs of the market and representative firm for cigarettes and for the market Y.

a. Show the initial long-run equilibrium in both sectors and in a representative firm in each sector on the graph.

b. Show what happens when demand changes in both sectors and representative firms.

c. Show the long-run equilibrium in both sectors.

A person who went to the gym and after 2 hours for his training, discovered that he lost 2 kilograms.

Why and how did you lose the 2 kilograms?
What happened to your plasma [sodium] and why?
What changes will occur, both in your behavior and kidney function, that will regain weight? What are the hormonal and cellular mechanisms by which your behavior and kidney function change? What is your serum [sodium] when you have finally regained weight and why?

Assume that you are attending a meeting of the Federal Reserve’s Open Market Committee (FOMC). There is great concern among the members that the U.S. economy is in a recessionary trend, while others believe that the U.S. economy is booming. Based on your reading, write a brief report to summarize your suggestions on how to adjust the current monetary policies. In your discussion, please specify the available tools that the Fed could use and how these policy changes affect your personal life and investment decisions.

A central question in biology is, how do we have > 200 different cell types, complete with unique cell morphologies and functions, when all cells have the same DNA (the concept of genomic equivalence). Epigenetic regulation of gene transcription is one way to explain this. Define what is meant by epigenetic regulation of gene transcription, including different general epigenetic mechanisms, and describe three different contexts of a developmental process that is associated with epigenetic changes that we have discussed in class.

1. Find one new fossil discovery, how it did/did not change what is already known for species related to the discovery and how it relates to Darwin’s theory of evolution

2. DNA evidence of changes to the evolutionary tree that is currently accepted

3. Find one new human DNA or fossil or anthropological discovery and explain how it relates to Darwin’s theory of evolution

4. Choose a new method of artificial selection for crops or animals (pets or livestock usually) and explain its connection with Darwin’s theory of evolution.

World oil prices have been rapidly swinging over the last few years, in part because of the declining value of the U.S. dollar, changes in supply and demand, and OPEC’s attempts to manage output in order to maintain higher prices. (OPEC stands for the Organization of Petroleum Exporting Countries) As the president of an oil producing and exporting company in Alberta: Explain how you may use hedging to protect your company’s income. Share a recent publication with your fellow students and your instructor.

Suppose the island of Atlantis imports only one product, machinery parts, at a per unit price of $125. At the same time, its only export good is palm oil, which sells at $250 per unit on world markets. Atlantis currently exports 100 units of palm oil.
Suppose that over time the import price of machinery parts rises to $150 while the world palm oil price decreases to $200.

Are these price changes in line with the Prebisch-Singer hypothesis? Why or why not

1. The Federal Reserve believes that a certain rate of interest on Federal Funds is associated with price stability (which is 2% rate of inflation). However, the Federal Funds rate tends to fluctuate with the changes in the demand for federal funds by the banking system. Hence, to maintain the Federal Funds rate at the desired rate or to raise it or lower it to a new rate the Federal Reserve System undertake open market operations, or few other measures.

1. What is the difference between dynamic open market operations and defensive open market operations?

What is a multinational firm? Please describe the theory of international trade that you can only consume what you can produce without trade and you can consume more than you produce with trade? What happens to the US dollar value of the UK pound if the US$/UK£ rises? The US dollar price of the euro rose from $1.15 to $1.30 - please explain using the demand and supply graph for a foreign currency and explain what is the main cause of changes in D and S.