3.“I just heard on the news that GDP is higher this year than it was last year. This means that we’re better off this year than last year.” Are you agree with this statement? Comment.
3) Explain carefully the Keynesian theory of money demand. Then discuss the critiques made by Friedman to the Keynesian theory of money demand. 4) Derive carefully the IS curve and discuss the determinants of its slope and its position.
3 Give an example of a positive and negative externality and what regulations the government would use to correct the negative externality?
3. Examine the proof of Bessel’s inequality and show that equality holds if the Fourier series of ϕ converges to ϕ uniformly. This is known as Parseval’s equality. Apply Par- seval’s equality to the Fourier series in Example 6.4.3 to derive the summation identity
∞
1 π4
n=1
n4 = 90 .
3 Despite finding that the boy was partly responsible for his own injuries the primary judge decided the driver should bear total responsibility (blame). What reason did the primary judge give for coming to this conclusion? [3 marks]
4 In the appeal the Court did not consider whether the actions of either the driver orthe boy had broken any statutory rule of the road. Explain why the question of whether any road rule had been broken was not relevant to the legal issue the Court of Appeal was deciding. [2 marks]
5 The Court of Appeal took a different view from that of the primary judge (as described in question 3) and said the boy must bear at least some blame. On the basis of what facts did the Court of Appeal come to this conclusion? [2 marks]
3.Evaluate the profitability of the project whith the NPV ,IRR, simple payback period ,and discounted payback period methods.Is the project acceptable? Briefly explain. Why is the NPV method superior to the other methods of capital budgeting? Briefly explain.
3. Definitions of manufacturing conceptsInterstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended:Materials and supplies usedBrass $75,000Repair parts 16,000Machine lubricants 9,000Wages and salaries Machine operators 128,000Production supervisors 64,000Maintenance personnel 41,000Other factory overhead Variable 35,000Fixed 46,000Sales commissions 20,000Compute:a. Total direct materials consumedb. Total direct laborc. Total prime costd. Total conversion cost
3. Suppose that f : [0, ∞) → C is continuous, piecewise continuously differentiable, and of exponential order α ∈ R. Show that the Laplace transform of ft exists on Hα and is
given by
3. Consider the Aggregate Demand-Aggregate Supply framework. Suppose government spending is increased when we are not in a liquidity trap, output is at the natural rate of output, and the Fed does not target the interest rate. You can assume for simplicity expected inflation is always zero. Show what happens over time to output, the price level, and the interest rate. In the long run, what happens to investment given this expansionary fiscal policy.
3. Suppose that country I increases its willingness to trade at the same time that trading partner country II decreases its willingness to trade. What can be said about the resulting impact on the terms of trade and on the volume of trade? (Note: You will not be able to say anything concrete about one of these impacts. Why not?)
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