In country RBC, only labor is used in production. The production function is Y = zN, where z is labor productivity. In country RBC, economic booms and recessions are due to cyclical movements of zs. For simplicity suppose that z takes two values: either z = 195 or z = 205. The chance that z = 205 is 0.7 and the chance that z = 195 is 0.3. Roughly, country RBC is in economic boom 70% of time and recession 30% of the time. The representative household in country RBC has utility u(c, l) = √ c + 20√ l

. (4 points) The above stabilization policy leads to a waste of resources, hence may not be favorable to households. Instead, government stabilizes production through wage subsidies financed by a lump-sum tax (tax cut financed with debt). The representative household’s budget constraint becomes the following. c = w(1 + s)(1 − l) − T. Show that s = 6.5375% and T = 4.5412 during recession will achieve the goal of stable output as well.

 

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In December of 2012, Fred Johnson drove to a shopping mall, parked in the parking lot, and went in to make purchases. When he came out he noticed an unattended shopping cart containing a purse and a DVD player in a shopping bag. Fred put the purse and bag in his car and drove off. Unbeknownst to him, the shopping cart and its contents were components of a police sting targeting parking lot thieves, and Fred was stopped by the police within a few blocks of the mall. When the police accused him of stealing the contents of the shopping cart, he denied doing so. He said that when he got home he intended to look through the purse to see if he could find the ID of the owner so that he could contact her about finding her belongings, and that it was never his intent to keep the items. He said that when he was a child this was how his mother had handled a similar incident, resulting in the return of the property to its rightful owner. Therefore, he said, rather than intending to steal the property he actually intended to preserve it for the true owner and to protect it against thieves. The police didn’t believe Fred, and charged him with misdemeanor theft of lost or mislaid property.

Using the concepts from our materials on personal property, do you think that Fred can be found guilty of this charge?

 

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In Denver, children bring their old jack-o-lanterns to the top of a tower and compete for accuracy in hitting a target on the ground. Suppose that the tower height is h = 9.80 m, and that the bulls-eye is a horizontal distance of d = 3.2 m from the launch point. If the pumpkin is thrown horizontally, what is the launch speed needed to hit the bulls-eye? (Neglect air resistance.)

Answer to 7578920In Denver, children bring their old jack-o-lanterns to the top of a tower and compete foraccuracy in hitting a target on the ground. Suppose that the tower height is h = 9.80 m,…

 

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In responding to your peers, select responses that use a confidence interval in a scenario that is different from your own. Do you agree with the use of a z or t confidence interval in those examples? Explain your reasoning and consider how confidence intervals could be applied to the final project.

 

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In “Desiree’s Baby,” when does Desire finally realize that there is something different about her child?

When she sees a slave boy fanning the baby

When her mother comes to visit

When she first gives birth

When Zandrine gazes across the field

In “Desire’s Baby,” what does Armand discover in the back of a drawer?

A piece of a letter from his mother to his father

The truth about his own ancestry

Both A & B

Neither A nor B

 

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