1. Suppose the government imposed a maximum wage in the market for some high-paying job. Draw a diagram to illustrate this market. What would be the consequences of this maximum wage?
2. Explain why, when we analyze the minimum wage, the elasticity of labor supply affects the unemployment rate but not the employment rate.
1-Suppose the marginal social cost of fighter aircraft each year exceeds their marginal social benefit Are fighter aircraft being produced at an efficient level?
2-The marginal social benefit of college enrollments currently exceeds its marginal social cost . Use a graph to demonstrate the gain in efficiency that would result from an increase in college enrollment.
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1. Suppose the government grants $2,500 per child to households that have more than two children. Do these child allowances influence the fertility behavior of households that had no children prior to the government program?
2. A worker plans to retire at the age of 65 when he will start collecting his retirement benefits. There is a sudden change in inflation forecasting, and inflation is predicted to be higher than had been expected. Prices and wages are now expected to go up. What effect will this announcement have on the person's retirement age preference:
a. If his retirement benefits were fully adjusted for inflation?
b. If the retirement benefits were not fully adjusted for inflation?
1. Suppose that you enter into a six-month forward contract on a non-dividend-paying stock when the stock price is $30 and the risk-free interest rate (with continuous compounding) is 12% per annum. What is the forward price? 2. A stock index currently stands at 350. The risk-free interest rate is 8% per annum (with continuous compounding) and the dividend yield on the index is 4% per annum. What should the futures price for a four-month contract be?
1. Suppose that we disallowed recursion in Ada. Would it be possible to construct a fully static environment for the language? Is the same true for C?
2. Describe how, in a language without procedure parameters, the environment pointer of a procedure closure does not need to be stored with the procedure, but can be computed when the procedure is called.
Q
1. Suppose that the skills acquired in school depreciate over time, perhaps because technological change makes the things we learned in school obsolete. What happens to a worker's optimal amount of schooling if the rate of depreciation increases?
2. Suppose that workers differ in their ability, but have the same rate of discount. Is it possible for the more-able workers to choose less schooling? Why?
(1) Suppose that the treasurer of IBM has an extra cash reserve of $100,000,000 to invest for six months. The six-month interest rate is 8 percent per annum in the United States and 6 percent per annum in Germany. Currently, the spot exchange rate is €1.01 per dollar and the six-month forward exchange rate is €0.99 per dollar. The treasurer of IBM does not wish to bear any exchange risk. Where should he/she invest to maximize the return?
(2)Due to the integrated nature of their capital markets, investor in both the U.S. and Great Britain require the same expected real interest rate of 3 percent. The expected annual inflation in the U.S. is 2 percent and in the U.K. expected annual inflation is 5%. The spot exchange rate is currently £1.00 = $1.80. Calculate the nominal interest rates in Britain and the U.S. assuming the Fisher effect holds.
1.The accounts of ABC Manufacturing Co, for the year ended 31st March, 2017 show the following: Consumable stores 2,000 Drawing office salaries 1,000 Counting house salaries 3,000 Cash discounts allowed 1,200 Carriage and cartage outwards 4,000 Carriage and cartage inwards 10,000 ‘Bad debts written off 5,000 Document Preview:
The accounts of ABC Manufacturing Co, for the year ended 31st March, 2017 show the following: Consumable stores 2,000 Drawing office salaries 1,000 Counting house salaries 3,000 Cash discounts allowed 1,200 Carriage and cartage outwards 4,000 Carriage and cartage inwards 10,000 ‘Bad debts written off 5,000 Repairs of plant, machinery and tools 3,000 Sale of waste materials 5,000 Rent, rates, taxes and insurance office 4,000 Sales 5,00,000 Audit fee 5,000 Postage and telegram 1,000 Legal charges 2,000 Bank charges 3,000 Trade subscriptions 6,000 Advertisements 10,000 Travelling expenses 6,000 Warehouse expenses 5,000 Delivery van expenses 4,000 Trade discount 3,000 Exhibition expenses …
Attachments:
cost-sheet-q1….docx
1. Suppose that the indifference curves between consumption and leisure are concave to the origin. How many hours will a person allocate to leisure activities?
2. Suppose that the price of goods purchased in the marketplace rises. What is the impact of this price increase on the worker's reservation wage, on the worker's probability of entering the labor force, and on hours of work?
3. What happens to a worker's desired hours of work if employers pay an overtime premium equal to “time and a half'(that is, 1 .5 times the straight-time wage) for any hours worked in excess of 40 hours? What would happen to hours of work if the overtime premium were raised to double the straight-time wage?
1. __T/F__ Under the rate-of-return regulation, plant depreciation is handled by subtracting the depreciation from the rate base and by the application of return on capital investment
1. __T/F__ Under the rate-of-return regulation, plant depreciation is handled by subtracting the depreciation from the rate base and by the application of return on capital investment
a. True
b. False
2. Only _________ can override FCC?s initiatives, rules, regulations and policies
a. States
b. Congress
3. __T/F_ One way to provide additional revenues for the RBOCs in the MFJ was to retain control of the Yellow Pages
Page 2 of 6
a. True
b. False
4. _T/F___CSS7 gave phone companies the ability to add new features without adding any additional equipment costs
a. True
b. False
5. __T/F__ Cross Subsidy is a practice where a firm uses losses from a product or service to offset corporate taxes against gains
a. True
b. False
6. _T/F__ U.S. cable operators are regulated as common carriers for price and carriage, since now they provide telephone, TV and Internet services
a. True
b. False
7. _T/F____ Carriers must obtain a certificate from the FCC prior to the extension of existing lines or construction of new lines, except when 1) the line constitutes part of an interstate line, 2) local, branch, or terminal lines do not exceed ten miles in length, or 3) a line is acquired under Section 221 of the Communications Act.
a. True
b. False
8. _T/F__ The total element long-run incremental cost model is the current attempt by the FCC to implement a rational model for regulating rates
a. True
b. False
9. _______ is responsible for establishing Internet-related LAN standards such as the Wi-Fi specifications
a. W3C
b. IEEE
10. Federal Communications Commission was charted under the Act of ________________
a. 1934
b. 1996
B. Multiple Choice (s).
11. Which of the following is not true about the Telecommunications Act of 1996?
a. Allowed all telephone carriers, utilities, and cable television companies to sell both local and long distance calling.
b. Mandated that the local telephone companies form separate companies to supply connections to companies that competed with them.
c. Deregulated cable TV.
d. Long distance carriers lobbied for the ability to expand sales to offer local services.
e. a) and c)
12. Which of the following communication businesses are not considered common carriers?
a. Broadcasters
b. Cable Operators
c. Internet Service Providers
d. Telephone Companies
e. a), b) and c).
13. Broadcast licenses awarded by the FCC:
a. May not be transferred (sold).
b. May be transferred without FCC approval.
c. May be transferred, but only with FCC approval.
d. May be auctioned off to the highest bidder.
e. a) and c).
14. Which of the following statements are correct.
a. Quality of Service (QoS) is the method by which traffic is prioritized. The parameters of QoS are availability, information transfer accuracy, priority and delay.
b. Network congestion occurs when demand for bandwidth exceeds the bandwidth capability. The congestion can lead to a bottle neck at various nodes on the network or it can also cause packets to get lost.
c. In point-to-multipoint communication the provider can server multiple customers using one line.
d. All of the above
e. a) and c)
15. Which of the following organizations is / are responsible for establishing common network technical specifications and standards for the Internet?
a. Internet Engineering Task Force (IETF)
b. World Wide Web Consortium (W3C)
c. Institute of Electrical and Electronic Engineers (IEEE)
d. All of the above
e. a) and c)
16. Which one of following has the FCC traditionally NOT identified as a policy objective that allegedly leads to the promotion of the public interest?
a. Diversity.
b. Competition.
c. Subsidization.
d. Localism
e. c) and d
17. In order to obtain a broadcast license from the FCC, an applicant must:
a. Be a U.S. citizen, or if a corporation, must be owned mostly by U.S. citizens.
b. Demonstrate adequate financial qualifications to construct and operate a station.
c. Show that they are of good character.
d. All of the above.
e. b) and c)
18. The FCC stipulates that children’s television programming must:
a. Be aired at least three hours a week.
b. Not consist of program-length commercials.
c. Contain buffers between commercials.
d. All of the above.
e. b) and c)
19. The Telecommunications Act of 1996 requires:
a. Cable television networks to adhere to safe harbor guidelines for indecent programming.
b. Television set manufacturers to install V-Chips on new sets.
c. Broadcasters to limit the amount of violent programming they air during prime-time viewing hours.
d. All of the above.
e. a) and b)
20. Programming that falls under the FCC’s definition of indecency:
a. May only be shown on cable television.
b. May be broadcast on stations during the “safe harbor” from 10 p.m. to 6 a.m.
c. May be shown on cable television without adhering to the safe harbor guidelines that apply to broadcasters.
d. b) and c)
e. a) and b)
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