Econ-UA_231_Midterm_Solution_fw07_V1
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**Econ-UA_231 - Multi-tiered content-based matrices -- Fall 2015**
**Professor: Ronald Ortega | Department of Economics, NYU | Email:
Ronald.Ortega@nyu.edu**
**Midterm 3**
Circle time you attend class
Name:\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
Email:\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_**Section: 9pm**
**WHEN HANDING IN PUT YOUR BUBBLE SHEET IN THE
ENVELOPE marked with time of Monday recitation that you
ATTEND**
Please don't start the exam until you are given the go ahead.
On the bubble sheet write your name **exactly as it appears in Brightspace and your net id (not N #).**
Write your name and net id **on ALL parts of the exam**.
Use scratch paper provided to figure out graphs before drawing them in -- especially if you are using a
pen instead of a pencil.
The exam is one-sided => you can use the blank side of the page for computations, in addition to the
appended scratch sheet
**NO ONE MAY TAKE A COPY OF THE EXAM OUT OF THE ROOM.
THE EXAM WILL BE POSTED WITH THE SOLUTIONS AFTER THE
GRADES ARE OUT.**
**For Instructor/TA use only:**
-----------------------------------------------------------------------
Q1 /29
----------------------------------------- -----------------------------
Q2 /21
Short Answer /12
Bubble Sheet /39
**TOTAL** /100
-----------------------------------------------------------------------
**Question 1** (14 points)
Demand fiscal policy economy GDP equilibrium GDP equilibrium. Equilibrium monetary policy
unemployment GDP. Fiscal Policy supply GDP monetary policy supply. Gdp economy fiscal policy
inflation market economy. Market economy equilibrium market monetary policy supply supply. Supply
inflation demand demand unemployment. Gdp market supply inflation demand economy fiscal policy.
Demand demand market demand. Fiscal Policy inflation demand monetary policy economy. Supply
supply market market. Supply economy supply economy demand market.
(a) Gdp monetary policy demand economy supply demand supply.
(b) Supply GDP unemployment market.
(c) Fiscal Policy fiscal policy demand economy supply inflation equilibrium unemployment.
Econ-UA_231
**Question 2** (22 points)
Gdp economy demand equilibrium. Equilibrium equilibrium equilibrium demand demand GDP demand.
Gdp fiscal policy market fiscal policy market monetary policy fiscal policy fiscal policy. Supply economy
market unemployment market. Fiscal Policy equilibrium monetary policy inflation GDP market economy
economy. Inflation supply fiscal policy market. Gdp GDP unemployment demand fiscal policy GDP.
Supply equilibrium monetary policy market unemployment equilibrium GDP.
(a) Demand fiscal policy demand inflation monetary policy equilibrium.
(b) Fiscal Policy supply unemployment unemployment demand.
(c) Monetary Policy supply equilibrium market supply inflation economy.
(d) Demand fiscal policy inflation inflation.
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Name:
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Topic: Multi- Cultural Setting
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300
0 50 100 150 200 250 300 350 400 450 500
QUANTITY (Thousands of tons of tangerines)
tons of
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Stock DET
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4
2
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The above graph shows an ink producer's short run cost curves to produce gallons of ink. The ink producer has a fixed cost of $2,100. The ink producer
operates in a perfectly competitive market. If the market price is $55, the ink producer will make
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ATC
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Many countries around the world have started making the move from
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Problem Set 1: Finance
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Recycling Wastes Money
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says that's way too much, especially when the city is cutting police and fire budgets. The mayor
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it The city spends about $240 per ton to recycle waste, while the cost of sending the waste to
landfills is about $130 a ton. As he sees it, "You could do a lot better things in the world with $57
million." The mayor axed the recycling program from the city's proposed 2003 budget
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How much more per ton is New York City paying to recycle rather than just dump its garbage?
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240
per ton
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The Nuclear Option Governor Janet Mills of Maine is considering building a nuclear power plant to help transition the state away from fossil fuels. Westinghouse Electric has approached Gov. Mills with plans for a 5,000MW reactor, which would be the largest in the US. Westinghouse filed for bankruptcy in 2017 due to competition from domestic natural gas and renewables such as solar and wind, but the market fluctuates annually. Westinghouse sees this business opportunity as a chance to rebound in the market. With Maine’s growing population, it is assumed that electricity consumption will increase, and Gov. Mills expects upcoming legislation will help to make electric vehicles more attractive, which will shift current oil (gasoline) consumption to an increased demand for electricity. Furthermore, excess electricity can be exported to other states or to Canada. In 2019, Maine consumed the following electricity mix: 53% non-hydro renewables…
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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
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Chapter 1: Problem 21
Molly Dymond and Kathleen Taylor are
considering the possibility of teaching
swimming to kids during the summer. A
local swim club opens its pool at noon
each day, so it is available to rent during
the morning. The cost of renting the pool
during the 10-week period for which
Molly and Kathleen would need it is
$1,700.
©2007 Wiley
Chapter 1: Problem 21
The pool would also charge Molly and
Kathleen an admission, towel service, and
life guarding fee of $7 per pupil, and
Molly and Kathleen estimate an additional
$5 cost per student to hire several
assistants. Molly and Kathleen plan to
charge $75 per student for the 10-week.
swimming class.
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(a) Distinguish between microeconomics and macroeconomics
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- Read over these resources for writing good introductions and conclusions. t, revise the introduction and conclusion using what you've learned. But remember--you may NOT use the internet to find information. Use your own experience and knowledge. For this,write a few sentences about how you used the resources to revise your draft. Introductions and Conclusions--LARC : https://www.grammarly.com/blog/start-an-essay/ Introductions from Grammarly : https://www.grammarly.com/blog/start-an-essay/ Conclusions from Grammarly : https://www.grammarly.com/blog/how-to-write-a-conclusion/?gclid=Cj0KCQjwkt6aBhDKARIsAAyeLJ23T6pYsFTrmPFi6_R-EKRAFxRNyoXR9RujMH573K3WFks_fwGChdAaAmOHEALw_wcB&gclsrc=aw.ds Working part-time at my local Dairy Queen has given me firsthand experience of the challenges associated with a $9 /hour wage. Despite putting in 36 hours (about 1 and a half days) weekly, the paycheck hovers around $250-$260, highlighting a stark economic reality. This scenario underscores the…arrow_forwardCoPipeline Content * MindTap - Cengage Learning Ô https://ng.cengage.com/static/nb/ui/evo/index.html?deploymentld=58326424525984828412294502&elSBN=9781337915601&id=1276443759&snaps. Q Search this cou CENGAGE MINDTAP von v Aplia Homework: Money and the Financial System Home 2. A history of money urses calog and Study Tools At first, it might seem that valuable commodities, such as cattle or lead bars, might be good forms of money. What makes paper money preferable to these alternatives? ntal Options O It has more intrinsic value than cattle or lead. llege Success Tips O It is less likely to be stolen. reer Success Tips O It is divisible (unlike cattle) and easily portable (unlike lead bars). elp Unlike pennies and nickels, which cost more to produce than they are worth, paper money and quarters are: ve Feedback O Useful as a medium of exchange O Examples of token money O A good store of value Cattle can be used as money but can also be slaughtered for food. Cattle are an example of: O…arrow_forwardC Get Homework Help With Chegg X Content O bblearn.uca.edu/ultra/courses/_130806_1/cl/outline?legacyUrl=-2Fwebapps-2Fcalendar-2Flaunch-2Fattempt-2F_blackboard.platform.gradeb. e ☆ E Apps I mylJCA M khapper2cubuc. H O Alpha Sigma Alpha. É iClaud O Pinterest b View My Activity I Olher bokmarks Micrasoft Office Ho. Blarkb:ard ECON 2320-TBA 0000-PRINCIPLES OF MACROECONOMICS - 31353.202220 Smartwork5: Ch. 11: Homework * SUBMIT ANSWER 15 OF 17 QUESTIONS COMPLETED 2:52 PM P Type here to search 20% O 69"F Mostly cloudy 描 3/6/2022arrow_forward
- y Bookmarks Profiles Tab Window cy Technician Certific X Midterm al.docx Help Midterm-Yoshira Martinez - C x | Inbox G cy.instructure.com/courses/16619/assignments/339423?module_item_id=659583 Page > of 4 0 5Which series of communication channels is arranged from smallest to largest? a. Facebook, Mediated Communication, Social media b. Social media, Mediated communication, Snapchat c.Instagram, Social media, Mediated communication d. Mediated communication, Social media, LinkedIn 6) You spend all your free time on Instagram and Facebook while neglecting meaningful face-tarrow_forwardriversity - Welcome to My. X Homework (Ch 16). x MindTap - Cengage Leaming à ng.cengage.com/static/nb/ui/evo/index.html?deploymentid=5981412232614779684085777463ISBN=9780357133576&id=1456476913&snapshotld=2884466& ristopher Lee v * CENGAGE MINDTAP y Home Homework (Ch 16) C ourses Place the black point (plus symbol) on the graph to indicate the short-run profit-maximizing price and quantity for this monopolistically competitive company. Then, use the green rectangle (triangle symbols) to shade the area representing the company's profit or loss. Catalog and Study Tools (2 Rental Options College Success Tips 500 Career Success Tips 450 OMMENDED FOR You Monopolistically Competitive Outcome 400 350 SQUAT Quadrip Gluteus Maximus Erector Spinae 300 Profit or Loss 250 achine Exercises: Lower 200 ody 150 ATC Machine 100 e Help 50 "MC O Give Feedback MR Demand 100 150 200 250 300 350 400 450 s00 QUANTITY (Bikes) Given the profit-maximizing choice of output and price, the shop is making v…arrow_forwardQuestions 8-9arrow_forward
- A Course Modules: ECO-261-42 - S X * MindTap - Cengage Learning + 8 https://ng.cengage.com/static/nb/ui/evo/index.html?deploymentld=5982812366321327711334359447&elSBN=9780357133606&id=105044... Elle v « CENGAGE MINDTAP Q Search this course A My Home Homework (Ch 14) 7. Short-run supply and long-run equilibrium Courses Consider the competitive market for copper. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and O Catalog and Study Tools faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. A-Z Partner Offers EE Rental Options College Success Tips Career Success Tips 80 RECOMMENDED FOR YOU 72 64 56 Study Hacks bongo ATC Student Tips on Balancing Multiple Finals 24 Help AVC 16 Give Feedback MC O 8 0 4 8 12 16 20 24 28 32 36 40 QUANTITY (Thousands of pounds) 9:06 PM O Type here to search W 3/31/2021 COSTS (Dollars per pound)arrow_forwardMy Akron Experience - The Unive X DEL Mindtap Homework and eBook x ← → CO YouTube y! E Gmail Netflix CENGAGE MINDTAP MindTap-Cengage Learning X ng.cengage.com/static/nb/ui/evo/index.html?deploymentid=59828118594357373295124631&elSBN=9780357133606&id=1696473521&snapshotld-3 Arcade Spot Solitaire - Online &... a Hello, Kristin Accou... Microsoft Solitaire... Homework (Ch 14) 100 Demand PRICE (Dollars per small t 90 80 Esc 61°F Mostly cloudy 70 60 50 40 30 20 10 0 + 0 ] F1 Suppose that YouYeet is one of over a dozen competitive firms in the Flagstaff area that offers moving truck rentals. ! 1 2 Based on the preceding graph showing the weekly market demand and supply curves, the price YouYeet must take as given is 3 1 8 3 4 5 6 7 QUANTITY (Hundreds of small trucks) Ø O F2 ¤- @ 2 W F3 ¤+ 0 Supply, # 3 9 E F4 GO 10 $ 4 F5 F R % 5 O Search F6 T A 6 L SAMSUNG F7 4- Suppose that Sendit is one of ox Y F8 & 7 F9 U 8 Grammarly F10 ( 9 Ghomework chapter Chicken Taco-Stuffe... br F11 ) 0 O F12 Parrow_forwardHistory Bookmarks Profiles Tab Window Help zm zm EAS zoom G Bb C C IGIIGG .com/static/nb/ui/evo/index.html?deploymentId=5981412282275864594790208&elSBN=9780357133576&id=1983540141... New CENGAGE MINDTAP Homework(Ch 13) Q Search th Scooter's Scooters is a large American manufacturer of electric scooters operating out of Fort Collins. Currently, the company produces all of its scooters using a single manufacturing facility, its factory in town. Recently, management has been considering expanding operations to one or two additional factories. The following table presents the manufacturer's monthly short-run average total cost (SRATC) for various levels of production if it operates out of one, two, or three factories. (Note: Q equals the total quantity of scooters produced by all factories.) Average Total Cost (Dollars per scooter) Number of Factories Q = 100 Q = 200 Q = 300 = 400 Q = 500 Q = 600 1 360 200 160 240 400 720 . 2 540 300 160 160 300 540 3 720 400 240 160 200 360 Suppose…arrow_forward
- +. MindTap - Cengage Learning geBrain - My Home https://ng.cengage.com/static/nb/ui/evo/index.html?elSBN=9781337106603&id=D605113824&snapshotld%3D1398187& Q Search this CENGAGE MINDTAP Homework (Ch 08) 1. Individual Problems 8-1 The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $22, $12, $8, $4, and $2 (one seller at each price). Five buyers are willing to buy one widget at the following prices: $8, $12, $22, $30, and $38 (one buyer at each price). For each price shown in the following table, use the given information to enter the quantity demanded and quantity supplied. Quantity Supplied Quantity Demanded Price (widgets) (widgets) ($ per widget) $2 $4 $8 $12 $22 $30 $38 widgets. per widget, and the equilibrium quantity will be In this market, the equilibrium price will be EO WE O Type here to search %24arrow_forward#37 answer is 1.83arrow_forwardGame theory - Please help. Thanks!arrow_forward
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