Econ 104 homework 2 answer (penn state university)

   VERSION 2019 and 2020 (LATEST)

VERSION 2020:

Use the notice beneath to acceptance questions 1-6 Think an administration that produces singly two movables: new apricots and dried apricots. In this administration, the technology of conceding dried apricots is to locate new apricots on eeembezzle racks and admit them to dry in the sun. Fannie's Farms is the singly corporation that grows new apricots, opportunity Darryl's Dried Victuals is the singly action of dried apricots. Fannie's sells some of its apricots undeviatingly to absorbrs for disbursement. The pertinent proceeds and absorb notice for each of the two firms in the administration is ardent beneath: 

Darryl's Dried Victuals Proceeds from selling dried apricots: Absorb of buying new apricots from Fannie's: Concern on funds added to buy arefaction racks: Allowance remunerated to employees Taxes $2,750,000 1,800,000 200,000 550,000 90,000 Fannie's Farms Proceeds from selling new apricots: Rent on plant (including apricot trees) Allowance to employees Taxes $2,350,000 400,000 1,100,000 180,000 Darryl's emolument from selling dried apricots is: $5,390,000 $110,000 None of these are improve $150,000 $670,000 Fannie's emolument from selling new apricots is: $4,030,000 $110,000 $670,000 $300,000 None of these are improve 

Question 3 3 pts Use the proceeds way to weigh ostensible GDP. Fill in the blanks in the board beneath. Penetscold collection after a occasion no commas, no dollar signs and no decimals. For development, if your acceptance is $12.000 you would penetscold 12000 into the mismisembezzle box. a. Entirety confessance b. Concern c. Rent d.Total emolument* 780000 e. Entirety taxes f. Ostensible GDP =(a+b+c+d+e) "hint: get entirety emolument by adding your acceptances for #1 and #2! 

Now let's use the disbursement way to weigh ostensible GDP. So hither we achieve add up all absorbr lavishing on FINAL movables in this administration. Remember that the ultimate movables in this administration are new apricots and too dried apricots. We keep to be mindful not to inclose scold hither though owing some of the new apricots executed by Fannie are used by Darryl to effect dried apricots. So pristine we confront out how ample currency absorbrs gone-by on each of the ultimate movables: How ample currency was gone-by by absorbrs on Fannie's new apricots? $800,000 $550,000 None of these are improve $2,750,000 $2,300,000 

Question 5 3 pts How ample currency was gone-by by absorbrs on Darryl's dried apricots? None of these are improve $2,300,000 $2,750,000 $800,000 $550,000 

Question 6 3 pts Now we are expeditions to weigh ostensible GDP using the disbursement way. Add up your acceptances for #4 and #5. What is ostensible GDP weighd using the disbursement way correspondent to? $3,550,000 $3,100,000 $5,100,000 $3,300,000 None of these are improve

Total 36 Questions (UPDATED 2020)

VERSION 2019:

Part 1: 32 questions at 3 points each for a entirety of 96 points

FOR FILL-IN-THE-BLANK questions: If your acceptance is in decimal arrange, entire to 2 decimal locates. For development, if your acceptance is .412, penetscold it into the fill-in-the-blank as .41, or if your acceptance is 1.415, penetscold it into the fill-in-the-blank as 1.42. If thither are no decimals in your acceptance, you achieve merely penetscold the number; so if your acceptance is 2, penetscold 2 after a occasion no decimals. Do not penetscold any extra spaces, do not penetscold commas or $ or % symbols.

 

Use the notice beneath to acceptance questions 1-6

Consider an administration that produces singly two movables: new apricots and dried apricots. In this administration, the technology of conceding dried apricots is to locate new apricots on eeembezzle racks and admit them to dry in the sun. Fannie’s Farms is the singly corporation that grows new apricots, opportunity Darryl’s Dried Victuals is the singly action of dried apricots. Fannie’s sells some of its apricots undeviatingly to absorbrs for disbursement. The pertinent proceeds and absorb notice for each of the two firms in the administration is ardent beneath:

  

Darryl's Dried Victuals

 

Revenue   from selling dried apricots:

$2,300,000

 

Cost   of buying new apricots from Fannie’s:

1,200,000

 

Interest   on funds added to buy arefaction racks:

250,000

 

Wages   remunerated to employees

600,000

 

Taxes

100,000

  

Fannie’s Farms

 

Revenue   from selling new apricots:

$2,000,000

 

Rent   on plant (including apricot trees)

300,000

 

Wages   to employees

1,200,000

 

Taxes

200,000 

1. Darryl's emolument from selling dried apricots is:

2. Fannie’s emolument from selling new apricots is:

3. Use the proceeds way to weigh ostensible GDP. Fill in the blanks in the board beneath. Enter collection after a occasion no commas, no dollar signs and no decimals. For development, if your acceptance is $12,000 you would penetscold 12000 into the mismisembezzle box.

4. Now let’s use the disbursement way to weigh ostensible GDP. So hither we achieve add up all absorbr lavishing on FINAL movables in this administration. Remember that the ultimate movables in this administration are new apricots and too dried apricots. We keep to be mindful not to inclose scold hither though owing some of the new apricots executed by Fannie are used by Darryl to effect dried apricots. So pristine we confront out how ample currency absorbrs gone-by on each of the ultimate movables:

How ample currency was gone-by by absorbrs on Fannie’s new apricots?

5. How ample currency was gone-by by absorbrs on Darryl’s dried apricots?

6. Now we are expeditions to weigh ostensible GDP using the disbursement way. Add up your acceptances for #4 and #5. What is ostensible GDP weighd using the disbursement way correspondent to?

7. According to the cruise ship development what are the developed objectives (goals) of macroeconomic policymakers?

8. According to the cruise ship development what are the ostensible objectives (goals) of macroeconomic policymakers?

9. Use the board beneath to acceptance questions 9-16

  

Good

2011

2012

 

Quantity

Price

Quantity

Price

 

Tomatoes

500

$2.00

600

$2.20

 

Tofu

800

$4.00

1000

$4.25

 

Tacos

900

$3.00

900

$4.00

10.  

11. Ostensible GDP for 2011 is $

12. Ostensible GDP for 2012 $

13. Splendid that 2011 is the dishonorable year, developed GDP for 2011 is $

14. Splendid that 2011 is the dishonorable year, developed GDP for 2012 is $

15. Again splendid that 2011 is the dishonorable year, the GDP deflator for 2011 is

16. Again splendid that 2011 is the dishonorable year, the GDP deflator for 2012 is

17. The scold of economic enlargement among the two years as defined by the percent exexqualify developed GDP is

18. The scold of inflation among the two years is

19. Let’s think some postulates on ostensible GDP and GDP charge deflator from the Federal Reserve Database:

Using the postulates in the board aggravate, developed GDP is correspondent to $__________.

20. During the 1973-1975 recession, GDP enlargement was encircling -3% and the percent exexqualify in charges was encircling 13%. This union of GDP enlargement and percent exexqualify in charges is referred to as:

21. Which of the forthcoming origin the unemployment scold as measured by the Bureau of Labor Statistics to understate the penny quantity of joblessness?

22. Use the board beneath to acceptance questions 20-23

The board beneath shows the ‘hypothetical’ basket(s) of disbursement movables for a 'typical' Penn State propaganda scholar for 2012 and 2013.

Assume 2012 is the dishonorable year. The scold of inflation among 2012 and 2013 is ____%

23. Now update the dishonorable year to 2013. The scold of inflation among 2012 and 2013 is now _____%. 

24. Which scold of inflation accounts for the superabundance damage?

25. The ‘Chain Weighted’ scold of inflation is ___%.

26. Use the board beneath to acceptance questions 24 - 27

  

Nominal   Interest Rate

Price   condemnation (CPI)

Expected   Inflation

 

June 1,   2008

2.42

217.463

5.1

 

June 1,   2009

214.791

27. Notes:
-June 2009 is the definite month of the Great recession - the functional retrieval, began in July of 2009 -expected inflation postulates is one year advenient, so expected inflation for the end from June 1, 2008 to June 1, 2009 is ardent in June 2008. So the postulates in the board indicates that in June of 2008, inflation was expected to be 5.1% aggravate the direct 12 months

28.  

29. Use the granted CPI postulates to weigh the developed inflation scold that occurred among June 2008 and June 2009 (hint: regular weigh the % exexqualify in the CPI).

30. The ex-ante developed scold of concern among June 2008 and June 2009 is:

31. The ex-post developed scold of concern among June 2008 and June 2009 is:

32. We comprehend that most resolutions are in divorce, dishonorabled on expectations of the advenient. Suppose we keep two populace who are trying to run whether to absorb today (appropriate it is currently June 2008) or economize for the advenient and absorb one year after, in June 2009. One peculiar, let's circumvent him Joe, is basing his resolution on the ex-ante developed scold of concern love most of us do. The other peculiar who has a crystal ball, we'll circumvent her Crystal, can see accurately what the developed scold of inflation is going to be and thus, has unblemished diffidence and dishonorables her resolution on the ex-post developed scold. Look at the estrangement in the ex-ante and ex-post developed scolds you weighd in #25 and #26 aggravate. Who would be past lovely to economize and who would be past lovely to lavish?

33. Use the notice in "Study shows absorbs of influence for established families radical off in Pa." to acceptance questions 28 – 31.

Using Allegheny scoldy as the dishonorable scoldy, the charge condemnation in Centre scoldy is:

34. Using Allegheny scoldy as the dishonorable scoldy, the charge condemnation in Chester scoldy is:

35. Using Allegheny scoldy as the dishonorable scoldy, if you are currently making $75,000 per year in Centre scoldy, how ample would you deficiency to effect in Allegheny scoldy to keep the similar developed purchasing command as you keep in Centre scoldy?

36. Using Allegheny scoldy as the dishonorable scoldy, if you are currently making $75,000 per year in Centre scoldy, how ample would you deficiency to effect in Chester scoldy to keep similar purchasing command as you keep in Centre scoldy?

37. A companion of mine came to Penn State in the 1970s and told me that glutinous buns at the Propaganda Diner absorb $.75 (75 cents) in December of 1976. The CPI in December of 1976 was 58.4 and in December of 2012, the CPI was 230.979. Use this CPI postulates and splendid that the charge of glutinous buns rose in suitable relation to the CPI, what would the charge of glutinous buns keep to be in December of 2012 so that the ‘developed charge’ of glutinous buns remained perpetual?

38. Empire lavishing on transplant payments is interposed in empire purchases when careful GDP owing it results in the product of new movables and services.

39. If inflation is anticipated, some possessions of inflation on the redistribution of proceeds can be avoided.

  

BUY MORE MATERIALS FOR THIS COURSE:

ECON 104 Homework 1 Acceptance (Penn State University)

ECON 104 Homework 2 Acceptance (Penn State University)

ECON 104 Homework 3 Acceptance (Penn State University)

ECON 104 Homework 4 Acceptance (Penn State University)

ECON 104 Homework 5 Acceptance (Penn State University)

ECON 104 Homework 6 Acceptance (Penn State University)

ECON 104 Homework 7 Acceptance (Penn State University)

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