Italian pasta increasingly made of wheat from Canada and U.S” (Durishin, M. & Robinson, A. Vancouver Sun Newspaper, Tuesday, December 3, 2019, p. B4).

“Italy, the world’s biggest pasta consumer, can’t abandon the North American wheat used to make spaghetti and macaroni after smaller plantings and foul weather curbed output in the European Union.

Output in Canada and the U.S. also declined as excessive rain hampered harvests. Farmers also reduced acreage for durum, which can be challenging to grow. Prices for Durum stayed relatively low during the growing season, which contributed to Italy’s demand, Erica Olson, market development and research manager at the North Dakota Wheat Commission, said.

1. Given the information in the story above, there are two “bits” of information that are important to us, and suggest possible changes – or SHIFTS to the SUPPLY for Pasta Wheat from Italy as well as from Canada and the U.S. What are these “bits” drawn from the two paragraphs under the news headline AND What direction is the CHANGE in SUPPLY suggested by each here AND WHY, what might the underlying “CAUSE be?”
   
2. WHAT is the impact on the EQUILIBRIUM Price, P and QUANTITY SUPPLIED, Q_s from the changes in Supply described in question 1 above? In what direction is each changing?

1.

Classifying Cash Flows

Identify whether each of the following would be reported as an operating, investing, or financing activity on the statement of cash flows:

2.

Adjustments to Net Income—Indirect Method

Omni Corporation's accumulated depreciation—equipment account increased by $9,600, while $6,200 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss of $7,300 from the sale of land.

Reconcile a net income of $109,600 to net cash flow from operating activities.

3.

Changes in Current Operating Assets and Liabilities—Indirect Method

Victor Corporation's comparative balance sheet for current assets and liabilities was as follows:

Adjust net income of $79,700 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
$

a new drug called Xaelenfal is on the market. Xaelenfal is an AMPA receptor antagonist, meaning that it binds onto AMPA receptors without activating them and prevents glutamate from binding.

i. If I take the drug Xaelenfal, how will this effect EPSPs recorded in the postsynaptic neuron when an excitatory presynaptic neuron fires an action potential? (1 point)

ii. How will the drug Xaelenfal effect IPSPs in the postsynaptic neuron when an inhibitory presynaptic neuron fires an action potential? (1 point)

iii. In a normal brain, synapses can get stronger when a presynaptic cell repeatedly causes a postsynaptic cell to depolarize (we call this long-term potentiation, or LTP). Explain how long term potentiation works including the following details. (3 points)
- Name the neurotransmitter that is released by the presynaptic cell.
- Name the receptor that this neurotransmitter binds to on the postsynaptic cell to mediate normal excitatory transmission.
- What other receptors are involved and how do they get recruited?
- List one way in which the presynaptic neuron changes and one way in which the postsynaptic neuron changes during LTP.

iv. Given what you know about plasticity, could Xaelenfal effect the ability of synapses to potentiate. Explain your answer. (2 points)

1- The larger the deadweight loss or taxation the

a, more people will choose to not buy the product.

B.more the burden of the tax will fall on the buyer and not the seller

c.larger the coat of any government program

d. more the burden of the tax will fall on the seller and not the buyer.

2- As size of a tax increases the deadweight loss from the tax the

A. declines.

b. No one knows how the deadweight loss changes because no tax has ever been reduced

c.remains constant.

D. Increase.

3- The CPI and the GDP deflator
A. generally move together b.generally show different patterns of movement. C. Always show identical changes. d always show different patterns movement.

4- technological advance in the produotion of computers will

a. increase consumer surplus in the market for computers and decrease producer surplus in

b, the market for computer software. increase producer wirplus in increase consumer surplus in the market for computers and

c. the market for computer software surplus in decrease consumer surplus in the markat for computers and increase producer the market for computer software.

d. decrease producer surplus in decrease consumer surplus in the market for computers the market for computer software.

5- If the tax on a good is doubled, the deadweight loss of the tax

a. increases by 50 percent.

b, doubles,

c. triples.

D. quadruples.

We are evaluating a project that costs $864,000, has an eight-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 71,000 units per year. Price per unit is $49, variable cost per unit is $33, and fixed costs are $765,000 per year. The tax rate is 35%, and we require a 10% return on this project.

a-1. Calculate the accounting break-even point. (Round the final answer to 2 decimal places.)

Break even point             units

a-2. What is the degree of operating leverage at the accounting break-even point? (Round the final answer to 3 decimal places.)

DOL            

b-1. Calculate the base-case cash flow and NPV. (Round the final NPV answers to 2 decimal places. Omit $ sign in your response.)

b-2. What is the sensitivity of NPV to changes in the sales figure? (Do not round intermediate calculations. Round the final answer to 3 decimal places. Omit $ sign in your response.)

ΔNPV/ΔQ           $

c. What is the sensitivity of OCF to changes in the variable cost figure? (Negative answers should be indicated by a minus sign. Omit $ sign in your response.)

ΔOCF/ΔVC           $

Future Value of an Annuity

Find the future value of the following annuities. The first payment in these annuities is made at the end of Year 1, so they are ordinary annuities. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering a new value for it and then pressing the key for the unknown variable to obtain the second answer. This procedure can be used in many situations, to see how changes in input variables affect the output variable. Also, note that you can leave values in the TVM register, switch to Begin Mode, press FV, and find the FV of the annuity due.) Do not round intermediate calculations. Round your answers to the nearest cent.

1. $200 per year for 10 years at 8%.

   $   

2. $100 per year for 5 years at 4%.

   $   

3. $200 per year for 5 years at 0%.

   $   

4. Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is, they are annuities due.

   Future value of $200 per year for 10 years at 8%: $   

   Future value of $100 per year for 5 years at 4%: $   

   Future value of $200 per year for 5 years at 0%: $   

The shape of the distribution of the time required to get an oil change at a 20-minute oil-change facility is unknown.​ However, records indicate that the mean time is 21.1 minutes​, and the standard deviation is 4.9 minutes. Complete parts ​(a) through (c).

​(a) To compute probabilities regarding the sample mean using the normal​ model, what size sample would be​ required?

A. The normal model cannot be used if the shape of the distribution is unknown.

B. The sample size needs to be greater than or equal to 30.

C. Any sample size could be used.

D. The sample size needs to be less than or equal to 30.

​(b) What is the probability that a random sample of n=40 oil changes results in a sample mean time less than 20 minutes?

The probability is approximately ______

(Round to four decimal places as​ needed.)

​(c) Suppose the manager agrees to pay each employee a​ $50 bonus if they meet a certain goal. On a typical​ Saturday, the​ oil-change facility will perform 40 oil changes between 10 A.M. and 12 P.M. Treating this as a random​ sample, there would be a​ 10% chance of the mean​ oil-change time being at or below what​ value? This will be the goal established by the manager.

There is a​ 10% chance of being at or below a mean​ oil-change time of _____ minutes.

Solano Company has sales of $760,000, cost of goods sold of $500,000, other operating expenses of $40,000, average invested assets of $2,250,000, and a hurdle rate of 11 percent.

1. Determine Solano’s return on investment (ROI), investment turnover, profit margin, and residual income. (Do not round your intermediate calculations. Enter your ROI and Profit Margin percentage answer to the nearest 2 decimal places, (i.e., 0.1234 should be entered as 12.34%). Round your Investment Turnover answer to 4 decimal places.)

2. Several possible changes that Solano could face in the upcoming year follow. Determine each scenario’s impact on Solano’s ROI and residual income. (Note: Treat each scenario independently.) (Enter your ROI percentage answers to 2 decimal places, (i.e., 0.1234 should be entered as 12.34%.))

   a. Company sales and cost of goods sold increase by 40 percent. (Find ROI and Residual income)

  b. Operating expenses decrease by $11,000.   (Find ROI and Residual income)

   c. Operating expenses increase by 20 percent. (Find ROI and Residual income)
  d. Average invested assets increase by $430,000. (Find ROI and Residual income)

  e. Solano changes its hurdle rate to 17 percent. (Find ROI and Residual income)

a) At the supermarket, milk costs $2 per quart while cereal costs $5 per box.

1. In a diagram, measuring quarts of milk along the horizontal axis, draw the budget constraint of a consumer with an overall cash budget of $20.

2. In the diagram, illustrate how the consumer’s budget constraint changes if there is a two-for-one sale on cereal.

3. In the diagram, illustrate how the consumer’s budget constraint changes if the two-for-one sale on cereal applies only to the first 4 boxes.

b) A high-school student has a monthly budget of $80 to spend on music and burritos. Burritos cost $8 each, while songs are free after paying the Spotify monthly fee of $9.99.

1. In a diagram, measuring songs along the horizontal axis, draw the high-school student’s budget constraint.

c) A family has an yearly income of $50,000 to spend on the kids’ education or on all other goods.

1. In a diagram measuring dollars spent on education along the horizontal axis and dollars spent on all other goods along the vertical axis, draw the family’s budget constraint.

2. In your diagram, draw the family’s budget constraint if the family must pay a 10% income tax but receives a $5,000 school voucher.

The menu cost reasoning for sticky prices includes which of the following concepts

Using the CPI data from 1988-2009, the category of consumer goods that changes prices most frequently is

More durable goods tend to change prices

A study from the Billion Prices Projects studied goods that are sold both in-store by Wal-Mart and online by Amazon. The study found that