In his study on the labor hours spent by the FDIC (Federal deposit insurance Corporation) on 91 bank examinations, R.J. Miller estimated the following function.
lnY=2.41+0.3674lnX1+0.2217lnx2+0.0803lnx3-0.1755D1+0.2799D2+0.5634D3-0.2572D4
     (0.55)     (0.0477)       (0.0628)      (0.0287)      (0.2905)    (0.1044)     (0.1657)     (0.0787)
R2=0.766
Where Y= FDIC examiner labor hours
            X1= Total assets of bank, x2 total number of offices in bank, x3 ratio of classified loans to total loan for bank . D1=1 if management rating was good D2=1 if management rating was fair D3=1 if management rating was satisfactory D4=1 if examination was conducted jointly with the state.
a) Interpret the results
b) Interpret the dummy variables
c) Which of the parameters from the estimated regression are statistically significant at 5% significance level?  

Question 3

Using the data in SLEEP75.RAW, we obtain the estimated equation

Sleep =3,840.83 -.163totwrk - 11.71educ - 8.70 age -.128 age2 + 87.75 male            

              (235.11)    (.018)              (5.86)        (11.21)          (.134)       (34.33)                     

N=706, R2=.123,

The variable sleep is total minutes per week spent sleeping at night, totwrk is total weekly minutes spent working, educ and age are measured in years, and male is a gender dummy.

1. All other factors being equal, is there evidence that men sleep more than women? How strong is

The evidence?

2. Is there a statistically significant tradeoff between working and sleeping? What is the estimated

Tradeoff?

3. What other regression do you need to run to test the null hypothesis that, holding other factors

Fixed, age has no effect on sleeping?

Question 4

From the data for 46 states in the United States for 1992, Baltagi obtained the following regression results:

                                              LogC= 4.3- 1.34 log P +0.17 log Y

                                                    Se=(0.91) (0.32)       (0.20)                                    R²=0.27

Where C= cigarette consumption, Packs per year

              P= real price per pack

              Y= real disposable income per capita

1. What is the elasticity of demand for cigarettes with respect to price? Is it statistically significant?
2. What is the income elasticity of demand for cigarettes? Is it statistically significant?
3. What is the overall significance of the regression? Which test do you use?

1. Explain how and why each of the following factors would influence current aggregate demand in the United States:

(a) an increased fear of recession

(b) an increased fear of inflation

(c) the rapid growth of real income in Canada and Western Europe

(d) a reduction in the real interest rate

(e) a decline in housing prices

(f) a higher price level (be careful)

2. Which of the following would be most likely to shift the
long-run aggregate supply curve (LRAS) to the left?

a. unfavorable weather conditions that reduced the size of this year’s grain harvest

b. an increase in labor productivity as the result of improved computer technology and expansion in the Internet

c. an increase in the cost of security as the result of terrorist activities

3. How would an increase in the economy’s production possibilities influence the LRAS?

4. Suppose consumers and investors suddenly become more pessimistic about the future and therefore decide to reduce their consumption and investment spending. How will a market economy adjust to this increase in pessimism?

5. “If the general level of prices is higher than business
decision makers anticipated when they entered into
long-term contracts for raw materials and other
resources, profit margins will be abnormally low and
the economy will fall into a recession.”
– Is this statement true?

6. Which of the following would be most likely to throw the
U.S. economy into a recession?

(a) a reduction in transaction costs as the result of the growth and development of the Internet

(b) an unanticipated reduction in the world price of oil (will the impact of this factor differ between oil producing and oil consuming states?)

(c) an unanticipated reduction in AD as the result of a sharp decline in consumer confidence

7. During the first half of 2008, the world price of oil soared while stock and housing prices plunged. Within the framework of the AD-AS model, how would these two changes influence the U.S. economy? Explain the expected impact on output & price level.

8. When actual output is less than the economy’s full employment level of output, how will real resource prices and real interest rates adjust?

9. Construct the AD, SRAS, & LRAS curves for an economy experiencing:

(a) full employment equilibrium

(b) an economic boom

(c) a recession

True or False:

Terrorism, or acts of violence by non-state actors, is distinguished from criminal acts on the basis of the purpose for which violence is carried out. In the case of terrorism, the purpose is making political changes.

According to a cultural explanation of terrorism, in an attempt to preserve their threatened identity and values, groups actively distinguish themselves from despised “others.” At the local level, the cultural friction may translate into conflicts divided along religious or ethnic lines that aim to safeguard identity.

Globalization has been an effective deterrent against terrorism. The processes of globalization prevent terrorist organizations from acquiring, manufacturing, and using weapons of mass destruction.

Liberal perspectives in the international political economy (IPE) contends that the global political economy is being shaped by competition among states, who seek to maximize their power and security.

Maintenance of fiscal discipline, trade liberalization, deregulation of the economy, etc. are examples of the set of policy prescriptions of the Washington Consensus promoted by the United States in developing countries.

The General Agreement on Tariffs and Trade (GATT) was transformed into the International Monetary Fund (IMF) in 1995. The IMF is responsible for managing international trade.

The most favored nation principle has been a bedrock of international trade negotiations. The principle holds that any preferential trading agreement reached with one country should be extended to other countries.

The theory of comparative advantage argues that all countries stand to benefit by specializing in the production of goods to which they are relatively most suited and then trading their surplus production with one another.

In an attrition strategy (of terrorism), Terrorists try to convince the population that the terrorists are strong enough to punish disobedience and that the government is too weak to stop them, so that people behave as the terrorists wish.

Groups engaged in outbidding (a strategy of terrorism) use violence to convince the public that the terrorists have greater resolve to fight the enemy than rival groups, and therefore are worthy of support.

A spoiler strategy of terrorism is an attempt to induce the enemy to respond to terrorism with indiscriminate violence, which radicalizes the population and moves them to support the terrorists.

Terrorists sometimes resort to hostage taking, airline hijacking, and explosions announced in advance are generally intended to use the possibility of harm to bring issues to the attention of the target audience. These actions are referred to as demonstrative terrorism.

After its passage, the Civil Rights Act of 1964 was eventually challenged in the Supreme Court as violating the freedom of private businesses to refuse service to anyone, including African Americans. The Court, however, ruled that the creation of this landmark legislation was within the authority of congressional power. Congress and the Court agreed that the _____________ clause justified congressional action on this civil rights issues.

Why is it difficult to find eigenenergies and eigenstates of electrons in multi electron atoms? Why in the multi electron atoms do states with the same principal quantum number with different orbital quantum numbers have different energies? Why do states with the same principal quantum number and orbital quantum numbers have different energy levels depending on their total spin quantum number?

"The Supreme Court's 2012 ruling that states could decide whether to participate in the health law's Medicaid expansion program was controversial." Write a response to the statement given describing the Medicaid expansion program and why some states did NOT participate. Include how the decision to participate in the expansion program affects access, quality, and healthcare costs for providers. Don't forget to describe the pros and cons.

The Affordable Care Act allow states to expand Medicaid services by raising the income eligibility guidelines. The federal government will pay for 90% of the costs of the program expansion and the state is required to pay the remaining 10%. Many states (including Oklahoma) have opted not to particiapte in the program expansion. Do you feel that our state should or should not participate in Medicaid expansion and why?

how does short run phillips curve being used today 2020?

How crisis (covid 19) effects SCM in the context of Global economics in 2020

Bostock v. Clayton County case 2020:

FACTS ?

ISSUES ?

ANSWER ?

REASONING ?