Question 1
1. 1) _________ economies are the most effective at promoting economic growth.
a.
Command
b.
Closed
c.
Open
d.
Inflationary
3 points
Question 2
1. 1) Limiting the immigration of highly educated professionals hurts U.S. economic growth because
a.
it restricts the supply of high human capital workers and the new ideas they could potentially generate.
b.
it restricts the knowledge base of the workforce.
c.
immigrants always cost less to hire than native workers do.
d.
both a. and b.
3 points
Question 3
1. 1) Economic growth is positively related to all of the following except
a.
import tariffs.
b.
the rate of investment.
c.
the rate of saving.
d.
the growth of technology.
3 points
Question 4
1. 1) Supply-side inflation can be caused by a continual
a.
increase in aggregate demand while aggregate supply remains unchanged.
b.
decrease in aggregate supply while aggregate demand remains unchanged.
c.
increase in aggregate supply while aggregate demand remains unchanged.
d.
decrease in aggregate demand while aggregate supply significantly decreases.
3 points
Question 5
1. 1) The aggregate demand curve would shift to the right as a result of
a.
a drop in the foreign exchange value of a dollar.
b.
tax increases.
c.
a drop in the price level.
d.
a decrease in the amount of money in circulation.
3 points
Question 6
1. 1) The total of all planned real expenditures in the economy is
a.
aggregate GDP.
b.
aggregate consumption.
c.
aggregate spending.
d.
aggregate demand.
3 points
Question 7
1. 1) Consider this statement: “Persistent inflation in a growing economy is possible only if the aggregate demand curve shifts rightward over time at a faster pace than the rightward progression of the long-run aggregate supply curve.” This statement is describing:
a.
demand-side inflation.
b.
supply-side inflation.
c.
demand- and supply-side inflation.
d.
neither demand- nor supply-side inflation.
3 points
Question 8
1. 1) Which of the following best exemplifies Say’s Law?
a.
The more you consume the less additional satisfaction you receive from additional consumption of the good.
b.
A decrease in the price of a good leads to larger amounts of the good being purchased.
c.
The production of a $4000 Plasma TV set creates demand for other goods and services valued at $4000.
d.
Increases in labor eventually lead to smaller and smaller increases in output.
3 points
Question 9
1. 1) All of the following will shift the short-run aggregate supply curve and long-run aggregate supply curve except for
a.
a depletion of raw materials.
b.
a temporary change in raw materials.
c.
decreased competition.
d.
increased education and training for the labor force.
3 points
Question 10
1. 1) The LRAS curve is vertical because unemployment is at its ________________.
a.
natural rate
b.
frictional rate
c.
cyclical rate
d.
structural rate
3 points
Question 11
1. 1) Which of the following facto ...
Page 1 of 17 ECON 201 Introduction to Macroeconomics .docxalfred4lewis58146
Page 1 of 17
ECON 201: Introduction to Macroeconomics
Final Exam
December 5, 2011
NAME: _________________________________
Circle your TA’s name: Agustin Brian Meysam
Circle your section time: 9 a.m. 3 p.m.
INSTRUCTIONS:
1. The exam lasts 2 hours.
2. The exam is worth 120 points in total: 45 points for the multiple choice questions (Part A), and
75 points for the six analytical problems (Part B).
3. Write your answers for part A (the multiple choice section) in the blanks below. You won’t
get credit for circled answers in the multiple choice section. There is no penalty to guessing, so
be sure to answer all of them.
4. Place all of your answers for part B in the space provided.
5. You must show your work for part B questions. There is no need to explain your answers for the
multiple choice questions.
6. Calculators are permitted. Books, notes, reference materials, etc. are prohibited.
7. Good luck!
PART A: Multiple Choice Problems. Answer multiple choice questions in the space provided
below. PLEASE USE CAPITAL LETTERS.
1 11 21 31 41
2 12 22 32 42
3 13 23 33 43
4 14 24 34 44
5 15 25 35 45
6 16 26 36
7 17 27 37
8 18 28 38
9 19 29 39
10 20 30 40
MC Q1 Q2 Q3 Q4 Q5 Q6 Total
Page 2 of 17
Part A. Multiple Choice Questions (45 points)
1. Money is
A) backed by gold in Fort Knox.
B) the same as income.
C) the value of all coins and currency in circulation at any time.
D) anything that is generally accepted as a medium of exchange.
2. The development of money as a medium of exchange has facilitated the expansion of trade because
A) holding money increases people's income.
B) no other mediums of exchange are available.
C) money eliminates the "double coincidence of wants" problem.
D) holding money increases people's wealth.
3. The price of bonds and the interest rate are
A) not related.
B) positively related.
C) negatively related.
D) sometimes positively related and other times negatively related, depending on the bond payments.
4. As the interest rate falls, people hold ________ money instead of bonds because the opportunity cost of
holding money has ________.
A) more; fallen
B) more; risen
C) less; fallen
D) less; risen
5. The lecture and readings explain the recent rise in food prices by
A) Subsidies to ethanol
B) Economic growth in China
C) Economic growth in the US
D) Quotas on corn imports
E) A) and B)
F) A) and D)
6. An example of a contractionary monetary policy is
A) an increase in the required reserve ratio.
B) a reduction in the taxes banks pay on their profits.
C) a decrease in the discount rate.
D) the Fed buying government securities in the open market.
7. Which of the following sequence of events follows an expansionary monetary policy?
A) r↓ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
B) r↑ ⇒ I↑ ⇒ AE↓ ⇒ Y↑.
C) r↑ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
D) r↓ ⇒ I↑ ⇒ AE↑ ⇒ Y↑.
Page 3 of 17
.
1.The tax multiplier associated with a $10B reduction in t.docxelliotkimberlee
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes.
This is known as Tax Freedom Day.
Last year’s date, April 26, was three days later than the previous year’s.
The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________.
This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid
-- much time
b.
non-liquid
-- much time
c.
liquid – very little time
d.
non-liquid
-- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending."
The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous."
In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open mar.
1.The tax multiplier associated with a $10B reduction in taxes i.docxhyacinthshackley2629
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes. This is known as Tax Freedom Day. Last year’s date, April 26, was three days later than the previous year’s. The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________. This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid -- much time
b.
non-liquid -- much time
c.
liquid – very little time
d.
non-liquid -- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending." The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous." In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open market sales.
b.
Lower the discount rate, lower the res.
Question 1 1. Using aggregate supply and demand analysis, disc.docxIRESH3
Question 1
1.
Using aggregate supply and demand analysis, discuss how the following will affect the aggregate level of output and the price level in the economy. Use a SRAS curve. You need to determine whether the AD or SRAS curve will shift, in which direction it will shift, and how this will affect aggregate output and the price level.
a. A hurricane that destroys half the supply of goods produced in Florida.
b. An increase in the money supply.
Question 6
1.
If the required reserve ratio is 10% and $1,000 of new bank reserves are created by the Federal Reserve, what is the maximum potential increase in the quantity of money in the economic system (not just the money created by the banking system but the total money supply)? Why might the money supply not increase by the maximum possible amount? Make sure you show your calculations and answer both parts of this question. Use the following equation to answer this question:
Maximum Potential Increase in the Money Supply = (1/r) x Monetary Base, where r is the required reserve ratio.
Question 8
Which of the following is held constant in defining the Law of Demand:
1.
population
2.
technology
3.
price of inputs
4.
price of related goods
2 points
Question 9
Scalping and black marketing happen because of
1.
price floor
2.
price ceiling
3.
minimum wage
4.
abundant supply
2 points
Question 10
Say's Law implies
1.
equilibrium in goods market
2.
full employment
3.
1 only
4.
both 1 and 2
2 points
Question 11
Producer's surplus is
1.
the triangle above the equilibrium price
2.
the big triangle between demand price and supply price
3.
the triangle below the market price
4.
none of the above
2 points
Question 12
Assume inflation rate is 3% and nominal GDP goes up by 3%. Real GDP growth will be
1.
higher than nominal GDP
2.
lower than nominal GDP
3.
same as nominal GDP
4.
none of the above
2 points
Question 13
Assume unemployment rate is reported to be 8.2%. A survey conducted by a reputable institution shows nearly one hundred thousand people quit looking for job. The reported unemployment rate of 8.2% is
1.
accurate
2.
overstated
3.
understated
4.
all of the above depending on how you look at it
2 points
Question 14
Money is used as a unit of account. This means money
1.
cannot store value for use in the future.
2.
is used to measure the exchange value and costs of goods, services, assets, and resources.
3.
has little or no intrinsic value.
4.
is dependent of the quantity of gold held by the Federal Reserve.
2 points
Question 15
Which of the following is true?
1.
In addition to the M1 money supply, the M2 money supply measure includes a number of highly liquid savings deposits.
2.
The M1 money supply is larger than the M2 money supply.
3.
Currency is the only component of the M1 money supply.
4.
Outstanding credit card balances are included in the M2 money supply, but not the M1 figures.
2 points
Question 16
Which of t ...
1. (Points 5) The GDP is the value of all final goods and.docxdorishigh
1.
(Points: 5)
The GDP is the value of all final goods and services produced
a. within the nations boundaries.
b. by domestically owned companies.
c. by citizens of the country.
d. by domestically controlled companies.
Save Answer
2.
(Points: 5)
If our population doubles, our GDP quadruples, and our GDP deflator doubles, our per capita real GDP will
a. quadruple.
b. double.
c. stay exactly the same.
d. decline by 25 percent.
e. decline by 50 percent.
Save Answer
3.
(Points: 5)
For purposes of calculating GDP using the expenditure approach, which of the following payments is NOT included in the government spending component?
a. Social Security pensions
b. The wages paid by a local government to its road crew
c. The wages paid by a state government to the workers in its welfare department
d. The federal government's purchase of a submarine from a shipbuilder
e. None of the choices are correct
Save Answer
4.
(Points: 5)
Which of the following is an intermediate product?
a. A road
b. Steel
c. Bread
d. A TV set
e. An automobile
Save Answer
5.
(Points: 5)
National income is the sum of all of the following except
a. wages.
b. savings.
c. interest.
d. rent.
e. profits.
Save Answer
6.
(Points: 5)
Which of the following would increase GDP?
a. More imports
b. Additional leisure time
c. Government removing more litter from highway right of ways
d. People engaging in more "do-it-yourself" projects
Save Answer
7.
(Points: 5)
Which of the following would NOT be included in this year's GDP?
a. The purchase of 100 shares of Microsoft stock
b. The replacement of a muffler on a 1978 Chevy
c. The commission charged by a real estate agent
d. The services of a hair stylist
e. The tuition fee for a course in economics
Save Answer
8.
(Points: 5)
The largest item amount among those listed here is
a. national income.
b. net interest.
c. net domestic product.
d. corporate profits.
Save Answer
9.
(Points: 5)
If GDP increases faster than the GDP deflator,
a. real GDP will rise.
b. real GDP will fall.
c. real GDP will stay the same.
d. There is not enough information to determine what happens to real GDP.
Save Answer
10.
(Points: 5)
Which one of the following is taken into account by GDP?
a. Household production
b. Illegal production
c. Leisure time
d. Custom lawn care services
Save Answer
11.
(Points: 5)
The difference between GDP and NDP is
a. Who has control of the company.
b. Who receives the profit from the sale.
c. Where the money is spent.
d. Depreciation.
Save Answer
12.
(Points: 5)
In the equation C + I + G + Xn, the I is defined as
a. total new investments less a wear out allowance.
b. total investments in new plant and equipment, business inventory changes and new residential housing.
c. domestic consumer income.
d. total investments in new plant and equipment ...
Final ExamQuestion 1 Which of the following does not shift the.docxmydrynan
Final Exam
Question 1
Which of the following does not shift the aggregate demand curve?
Choose one answer.
a. an increase in the supply of money
b. an increase in GDP in Japan
c. a decrease in taxes
d. a decrease in the price level
Question 2
is anything that serves as a medium of exchange.
is anything that is widely accepted as a means of payment.
occurs when goods are exchanged directly for other goods.
a consistent means of measuring the value of things.
an item that holds value over time.
the sum of all past federal deficits, minus any surpluses.
The actions of a central bank, currency board or other regulatory committee that determine the size and rate of growth of the money supply, which in turn affects interest rates.
the use of government expenditures and taxes to influence the level of economic activity.
Any government program that tends to reduce fluctuations in GDP automatically
Question 3
Indicate whether each of the following is a topic of microeconomics or macroeconomics:
The impact of higher oil prices on the production of steel
The increased demand in the last 15 years for exotic dietary supplements
The surge in aggregate economic activity that hit much of Asia late in the early 2000s
The sharp increases in U.S. employment and total output that occurred between 2003 and 2007
The impact of preservation of wilderness areas on the logging industry and on the price of lumber
Question 4
Adam Smith used the metaphor of the invisible hand to explain how _________.
Choose one answer.
a. markets mismatch buyers and sellers
b. the butcher and the baker are benevolent
c. people acting in their own self-interest promote the interest of society as a whole
d. the production possibilities frontier illustrates efficient outcomes
Question 5
Which of the following would be a macroeconomic question?
Choose one answer.
a. What is the relationship between inflation and unemployment?
b. How many computer programmers will be demanded by firms next year?
c. How many automobiles will be produced next year?
d. What percentage of workers belongs to a union?
Question 6
Which of the following wrote The General Theory of Employement, Interest, and Money?
Choose one answer.
a. John Maynard Keynes
b. Karl Marx
c. Adam Smith
d. Milton Friedman
Question 7
This is an example of an Economic Indicator
Choose one answer.
a. Unemployment Rate
b. GDP
c. The inflation rate
d. All of the above
Question 8
Money is _________.
Choose one answer.
a. anything that is regularly used in economic transactions or exchanges
b. necessary to conduct economic transactions
c. facilitates specialization in production
d. anything that has value
Question 9
To be defined as unemployed a person must _________.
Choose one answer.
a. not have a job
b. not have a job and must have looked for work at some time
c. not have a job and must be actively looking ...
Page 1 of 17 ECON 201 Introduction to Macroeconomics .docxalfred4lewis58146
Page 1 of 17
ECON 201: Introduction to Macroeconomics
Final Exam
December 5, 2011
NAME: _________________________________
Circle your TA’s name: Agustin Brian Meysam
Circle your section time: 9 a.m. 3 p.m.
INSTRUCTIONS:
1. The exam lasts 2 hours.
2. The exam is worth 120 points in total: 45 points for the multiple choice questions (Part A), and
75 points for the six analytical problems (Part B).
3. Write your answers for part A (the multiple choice section) in the blanks below. You won’t
get credit for circled answers in the multiple choice section. There is no penalty to guessing, so
be sure to answer all of them.
4. Place all of your answers for part B in the space provided.
5. You must show your work for part B questions. There is no need to explain your answers for the
multiple choice questions.
6. Calculators are permitted. Books, notes, reference materials, etc. are prohibited.
7. Good luck!
PART A: Multiple Choice Problems. Answer multiple choice questions in the space provided
below. PLEASE USE CAPITAL LETTERS.
1 11 21 31 41
2 12 22 32 42
3 13 23 33 43
4 14 24 34 44
5 15 25 35 45
6 16 26 36
7 17 27 37
8 18 28 38
9 19 29 39
10 20 30 40
MC Q1 Q2 Q3 Q4 Q5 Q6 Total
Page 2 of 17
Part A. Multiple Choice Questions (45 points)
1. Money is
A) backed by gold in Fort Knox.
B) the same as income.
C) the value of all coins and currency in circulation at any time.
D) anything that is generally accepted as a medium of exchange.
2. The development of money as a medium of exchange has facilitated the expansion of trade because
A) holding money increases people's income.
B) no other mediums of exchange are available.
C) money eliminates the "double coincidence of wants" problem.
D) holding money increases people's wealth.
3. The price of bonds and the interest rate are
A) not related.
B) positively related.
C) negatively related.
D) sometimes positively related and other times negatively related, depending on the bond payments.
4. As the interest rate falls, people hold ________ money instead of bonds because the opportunity cost of
holding money has ________.
A) more; fallen
B) more; risen
C) less; fallen
D) less; risen
5. The lecture and readings explain the recent rise in food prices by
A) Subsidies to ethanol
B) Economic growth in China
C) Economic growth in the US
D) Quotas on corn imports
E) A) and B)
F) A) and D)
6. An example of a contractionary monetary policy is
A) an increase in the required reserve ratio.
B) a reduction in the taxes banks pay on their profits.
C) a decrease in the discount rate.
D) the Fed buying government securities in the open market.
7. Which of the following sequence of events follows an expansionary monetary policy?
A) r↓ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
B) r↑ ⇒ I↑ ⇒ AE↓ ⇒ Y↑.
C) r↑ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
D) r↓ ⇒ I↑ ⇒ AE↑ ⇒ Y↑.
Page 3 of 17
.
1.The tax multiplier associated with a $10B reduction in t.docxelliotkimberlee
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes.
This is known as Tax Freedom Day.
Last year’s date, April 26, was three days later than the previous year’s.
The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________.
This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid
-- much time
b.
non-liquid
-- much time
c.
liquid – very little time
d.
non-liquid
-- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending."
The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous."
In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open mar.
1.The tax multiplier associated with a $10B reduction in taxes i.docxhyacinthshackley2629
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes. This is known as Tax Freedom Day. Last year’s date, April 26, was three days later than the previous year’s. The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________. This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid -- much time
b.
non-liquid -- much time
c.
liquid – very little time
d.
non-liquid -- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending." The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous." In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open market sales.
b.
Lower the discount rate, lower the res.
Question 1 1. Using aggregate supply and demand analysis, disc.docxIRESH3
Question 1
1.
Using aggregate supply and demand analysis, discuss how the following will affect the aggregate level of output and the price level in the economy. Use a SRAS curve. You need to determine whether the AD or SRAS curve will shift, in which direction it will shift, and how this will affect aggregate output and the price level.
a. A hurricane that destroys half the supply of goods produced in Florida.
b. An increase in the money supply.
Question 6
1.
If the required reserve ratio is 10% and $1,000 of new bank reserves are created by the Federal Reserve, what is the maximum potential increase in the quantity of money in the economic system (not just the money created by the banking system but the total money supply)? Why might the money supply not increase by the maximum possible amount? Make sure you show your calculations and answer both parts of this question. Use the following equation to answer this question:
Maximum Potential Increase in the Money Supply = (1/r) x Monetary Base, where r is the required reserve ratio.
Question 8
Which of the following is held constant in defining the Law of Demand:
1.
population
2.
technology
3.
price of inputs
4.
price of related goods
2 points
Question 9
Scalping and black marketing happen because of
1.
price floor
2.
price ceiling
3.
minimum wage
4.
abundant supply
2 points
Question 10
Say's Law implies
1.
equilibrium in goods market
2.
full employment
3.
1 only
4.
both 1 and 2
2 points
Question 11
Producer's surplus is
1.
the triangle above the equilibrium price
2.
the big triangle between demand price and supply price
3.
the triangle below the market price
4.
none of the above
2 points
Question 12
Assume inflation rate is 3% and nominal GDP goes up by 3%. Real GDP growth will be
1.
higher than nominal GDP
2.
lower than nominal GDP
3.
same as nominal GDP
4.
none of the above
2 points
Question 13
Assume unemployment rate is reported to be 8.2%. A survey conducted by a reputable institution shows nearly one hundred thousand people quit looking for job. The reported unemployment rate of 8.2% is
1.
accurate
2.
overstated
3.
understated
4.
all of the above depending on how you look at it
2 points
Question 14
Money is used as a unit of account. This means money
1.
cannot store value for use in the future.
2.
is used to measure the exchange value and costs of goods, services, assets, and resources.
3.
has little or no intrinsic value.
4.
is dependent of the quantity of gold held by the Federal Reserve.
2 points
Question 15
Which of the following is true?
1.
In addition to the M1 money supply, the M2 money supply measure includes a number of highly liquid savings deposits.
2.
The M1 money supply is larger than the M2 money supply.
3.
Currency is the only component of the M1 money supply.
4.
Outstanding credit card balances are included in the M2 money supply, but not the M1 figures.
2 points
Question 16
Which of t ...
1. (Points 5) The GDP is the value of all final goods and.docxdorishigh
1.
(Points: 5)
The GDP is the value of all final goods and services produced
a. within the nations boundaries.
b. by domestically owned companies.
c. by citizens of the country.
d. by domestically controlled companies.
Save Answer
2.
(Points: 5)
If our population doubles, our GDP quadruples, and our GDP deflator doubles, our per capita real GDP will
a. quadruple.
b. double.
c. stay exactly the same.
d. decline by 25 percent.
e. decline by 50 percent.
Save Answer
3.
(Points: 5)
For purposes of calculating GDP using the expenditure approach, which of the following payments is NOT included in the government spending component?
a. Social Security pensions
b. The wages paid by a local government to its road crew
c. The wages paid by a state government to the workers in its welfare department
d. The federal government's purchase of a submarine from a shipbuilder
e. None of the choices are correct
Save Answer
4.
(Points: 5)
Which of the following is an intermediate product?
a. A road
b. Steel
c. Bread
d. A TV set
e. An automobile
Save Answer
5.
(Points: 5)
National income is the sum of all of the following except
a. wages.
b. savings.
c. interest.
d. rent.
e. profits.
Save Answer
6.
(Points: 5)
Which of the following would increase GDP?
a. More imports
b. Additional leisure time
c. Government removing more litter from highway right of ways
d. People engaging in more "do-it-yourself" projects
Save Answer
7.
(Points: 5)
Which of the following would NOT be included in this year's GDP?
a. The purchase of 100 shares of Microsoft stock
b. The replacement of a muffler on a 1978 Chevy
c. The commission charged by a real estate agent
d. The services of a hair stylist
e. The tuition fee for a course in economics
Save Answer
8.
(Points: 5)
The largest item amount among those listed here is
a. national income.
b. net interest.
c. net domestic product.
d. corporate profits.
Save Answer
9.
(Points: 5)
If GDP increases faster than the GDP deflator,
a. real GDP will rise.
b. real GDP will fall.
c. real GDP will stay the same.
d. There is not enough information to determine what happens to real GDP.
Save Answer
10.
(Points: 5)
Which one of the following is taken into account by GDP?
a. Household production
b. Illegal production
c. Leisure time
d. Custom lawn care services
Save Answer
11.
(Points: 5)
The difference between GDP and NDP is
a. Who has control of the company.
b. Who receives the profit from the sale.
c. Where the money is spent.
d. Depreciation.
Save Answer
12.
(Points: 5)
In the equation C + I + G + Xn, the I is defined as
a. total new investments less a wear out allowance.
b. total investments in new plant and equipment, business inventory changes and new residential housing.
c. domestic consumer income.
d. total investments in new plant and equipment ...
Final ExamQuestion 1 Which of the following does not shift the.docxmydrynan
Final Exam
Question 1
Which of the following does not shift the aggregate demand curve?
Choose one answer.
a. an increase in the supply of money
b. an increase in GDP in Japan
c. a decrease in taxes
d. a decrease in the price level
Question 2
is anything that serves as a medium of exchange.
is anything that is widely accepted as a means of payment.
occurs when goods are exchanged directly for other goods.
a consistent means of measuring the value of things.
an item that holds value over time.
the sum of all past federal deficits, minus any surpluses.
The actions of a central bank, currency board or other regulatory committee that determine the size and rate of growth of the money supply, which in turn affects interest rates.
the use of government expenditures and taxes to influence the level of economic activity.
Any government program that tends to reduce fluctuations in GDP automatically
Question 3
Indicate whether each of the following is a topic of microeconomics or macroeconomics:
The impact of higher oil prices on the production of steel
The increased demand in the last 15 years for exotic dietary supplements
The surge in aggregate economic activity that hit much of Asia late in the early 2000s
The sharp increases in U.S. employment and total output that occurred between 2003 and 2007
The impact of preservation of wilderness areas on the logging industry and on the price of lumber
Question 4
Adam Smith used the metaphor of the invisible hand to explain how _________.
Choose one answer.
a. markets mismatch buyers and sellers
b. the butcher and the baker are benevolent
c. people acting in their own self-interest promote the interest of society as a whole
d. the production possibilities frontier illustrates efficient outcomes
Question 5
Which of the following would be a macroeconomic question?
Choose one answer.
a. What is the relationship between inflation and unemployment?
b. How many computer programmers will be demanded by firms next year?
c. How many automobiles will be produced next year?
d. What percentage of workers belongs to a union?
Question 6
Which of the following wrote The General Theory of Employement, Interest, and Money?
Choose one answer.
a. John Maynard Keynes
b. Karl Marx
c. Adam Smith
d. Milton Friedman
Question 7
This is an example of an Economic Indicator
Choose one answer.
a. Unemployment Rate
b. GDP
c. The inflation rate
d. All of the above
Question 8
Money is _________.
Choose one answer.
a. anything that is regularly used in economic transactions or exchanges
b. necessary to conduct economic transactions
c. facilitates specialization in production
d. anything that has value
Question 9
To be defined as unemployed a person must _________.
Choose one answer.
a. not have a job
b. not have a job and must have looked for work at some time
c. not have a job and must be actively looking ...
Some of the questions have a image involved. I have attached those .docxboadverna
Some of the questions have a image involved. I have attached those images with the quesiton number as the file name.
1. Which statement is true?
a. Today more workers in the U.S. are members of labor unions than any time in our history
b. Today labor unions are weaker than any time in the last 100 years
c. No major labor union has called a strike since the 1940’s
d. Labor unions are relatively strong in the public (government) sector.
2. Exclusive union strategy involves
a. Increasing the demand for the final product, thereby increasing the demand for labor
b. Restricting the supply of union labor
c. Setting job standards and entry qualifications for members
d. Organizing all workers and bargaining for a wage
e. Negotiating only after a strike has been called
3. An example of an exclusive union would be
a. The Internal Brotherhood of the Teamsters
b. The Communications Workers of America
c. The American Medical Association
4. In which one of these years was labor union membership the highest?
a. 1940
b. 1960
c. 1980
d. 1990
5. Which of the following laws stated that attempts to monopolize conspiracies in restraint of trade, and conspiracies to monopolize were illegal?
a. The Federal Trade Commission Act
b. The Clayton Act
c. The Sherman Antitrust Act
d. All of the Choices
e. None of the Choices
6. Until the passage of the Airline Deregulation Act of 1978, the Civil Aeronautics Board controlled all of the following Except?
a. Fares
b. Assigned routes
c. Profits
d. Entry into the industry
7. The Clayton Act prohibited
A. interlocking directories
B. all forms of monopoly
C. foreign control of US corporations
D. False and deceptive advertising
8. Which statement is true?
a. Microsoft is subject to American antitrust laws but not those of Europe, Asia, or elsewhere
b. Microsoft has never been involved in anti -trust suit
c. The European Commission fined Microsoft over 600 billion for its anticompetitive behavior
d. Microsoft has always gone out of its way to be helpful to its competitors
9. A monopolist operated at the minimum point of her ATC curve
a. Only in the short run
b. Only in the long run
c. In both the short and long run
d. In neither the short nor the long run
10. Which of the following is characteristic of a monopoly?
a. The absence of political power
b. Close substitutes products
c. The ability to make an economic profit in the long run
d. Operating at peak efficiency
11. The firm will charge a price of (image involved)
a. 8
b. 9.65
c. 10.
d. 12.
e. 16
12. Statement I Only natural monopolies are legal in the U.S.
Statement II: Large firms generally operate at peak efficiency
A. Statement I is true and statement II is false
B. Statement II is true and statement I is false
C. Both statements are true
D. Both statements are false
13. The nation’s largest bank has assets over
a. 2.5 billion
b. 25 billion
c. 250 billion
d. 800 billion
e. 1.8 trillion
14. Which statement is true?
A. Our money supply is fixed by law and can be raised b.
LOYOLA MARYMOUNT UNIVERSITY Econ 120 – Macroeconomics E.docxSHIVA101531
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
1
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
Multiple Choice (2 points each)
1. The spending multiplier is equal to:
A) MPC / MPS.
B) 1 / (1 – MPS).
C) MPC + MPS.
D) 1 / (1 – MPC).
2. If the marginal propensity to consume is 0.75 and the federal government increases spending by $100 billion,
the income expenditure model would predict that real GDP will increase by:
A) $100 billion.
B) $750 billion.
C) $400 billion.
D) $300 billion.
3. The money demand curve is:
A) downward-sloping because the opportunity cost of holding money is inversely related to the interest rate.
B) downward-sloping because the opportunity cost of holding money rises as the interest rate rises.
C) downward-sloping because the opportunity cost of holding money rises as the interest rate falls.
D) upward-sloping because the opportunity cost of holding money rises with the interest rate.
Figure: Policy Alternatives
4. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government increases
government spending, the result will likely be
A) an increase in unemployment.
B) a decrease in interest rates.
C) inflation.
D) deflation.
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
2
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
5. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government does not
intervene, the result will likely be
A) a shift of AD1 to the left.
B) a shift of SRAS1 to SRAS2.
C) a shift of LRAS to the left.
D) no change in AD or SRAS.
6. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government decides to
intervene, it would most likely
A) increase taxes.
B) decrease the money supply.
C) increase government spending.
D) decrease government spending.
7. In the long run, an increase in AD will result in:
A) no changes in the aggregate price level.
B) no changes in the aggregate output level.
C) increases in both the aggregate price level and the aggregate output level.
D) increases in the aggregate price level but no changes in the aggregate output level.
8. Starting from its potential output, an economy's government increases spending. In the long run, this
economy:
A) will produce at an output level that is greater than its potential output.
B) will produce at its potential output.
C) will produce at an output level that is below its potential output.
D) will produce at its potential output level, but at a lower aggregate price level.
9. In the long run, the aggregate price level falls. This could result from:
A) a leftward shift in AD.
B) a rig ...
ECON 1102, Test 2 (060216) 1
ECON 1102, Section 711, SS1 2016
Do any 40 of the 50 questions: two and one-half points each
Answer questions 1 through 4 based on the graph below.
1. The initial demand curve is D1. There are no rent ceilings or floors. The initial equilibrium monthly rent is
_____. (Put your answer on the answer sheet)
2. The demand curve shifts leftward from D1 to D0 so that D0 is the relevant demand curve. There are no
rent controls. In the short run, the decrease in demand results in
A) lower rents and a decrease in the equilibrium quantity.
B) higher rents and a decrease in the equilibrium quantity.
C) lower rents and an increase in the equilibrium quantity.
D) higher rents and an increase in the equilibrium quantity.
3. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $300 per month. In the short run there will be
A) a shortage and a decrease in search costs. B) a shortage and an increase in search costs.
C) a surplus and an increase in search costs. D) a surplus and a decrease in search costs.
4. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $500 per month. In the short run there will be
A) a surplus of apartments. B) a shortage of 200,000 apartments.
C) a shortage of 300,000 apartments. D) neither a shortage nor a surplus of apartments.
5 A price floor
A) always results in a surplus.
B) always results in a shortage.
C) results in a surplus if the floor price is greater than the equilibrium price.
D) results in a shortage if the floor price is greater than the equilibrium price.
ECON 1102, Test 2 (060216) 2
Answer questions 6 through 8 based on the table below.
Wage rate (dollars
per hour)
Labor supplied
(millions of workers)
Labor demanded
(millions of workers)
12 9 3
11 8 4
10 7 5
9 6 6
8 5 7
6. What is the equilibrium wage rate in an unregulated market? ____ (Put your answer on the answer sheet)
7. If the minimum wage is set at $12 per hour, the number of unemployed workers will be ____
8. If the market is in equilibrium today, and tomorrow a minimum wage is set at $11 per hour, the number of workers
who will lose their jobs is _____
9. In general, how a sales tax is divided between buyers and sellers is determined by
A) the elasticities of supply and demand. C) who the law says must pay the tax.
B) the government’s choice of whom to tax. D) the revenue needs of government.
10. A tariff
A) is a tax imposed on imported goods.
B) is a tax imposed on exported goods.
C) encourages worldwide specialization according to the principle of comparative advantage.
D) has no effect on prices paid by domestic consumers even though it increases the revenue collected by
domestic producers.
11. ...
ECON 301 Intermediate MacroSpring 2019 Problem Set #1Du.docxtidwellveronique
ECON 301: Intermediate Macro
Spring 2019 Problem Set #1
Due: Monday, April 22, 10:30 AM
Directions: Put the names of up to 3 group members at the top of this page.
Please clearly mark each of your answers to the multiple choice questions
in capital letters in the spaces provided below. Please mark your solutions
(preferably typed) to each of the short answer questions on separate sheets
of paper (with clean edges if using notebook paper) and staple or paper
clip your solutions to the multiple choice answer sheet. Hand it in (one per
group) on or before the due date during class time.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
SECTION 1: MULTIPLE CHOICE QUESTIONS
1. Based on your understanding of the aggregate expenditure model, we know with certainty
that an equal and simultaneous increase in G and T will cause:
(a) an increase in output
(b) no change in output
(c) a reduction in output
(d) an increase in investment
(e) a decrease in investment
For the following two questions, suppose an economy produces only milk and butter. As-
sume that all production is consumed in each year, and that price and quantity data are given
in the tables below.
Year 1
Good Quantity Price
Milk 500 $2
Butter 2000 $1
Year 2
Good Quantity Price
Milk 900 $3
Butter 3000 $2
2. (Refer to the above tables) Between Year 1 and Year 2, real GDP (based on Year 1 as a base
year) grew by
(a) 58.18%
(b) 158.18%
(c) 160%
(d) 60%
(e) 260%
3. (Refer to the above tables) Between Year 1 and Year 2, the GDP deflator (based on Year 1
as a base year) rose
(a) 81.25%
(b) 90%
(c) 190%
(d) 83.33
(e) 183.33%
ECON 301: Intermediate Macro Problem Set #1 1
4. Which of the following generally occurs when a central bank pursues expansionary monetary
policy?
(a) the central bank purchases bonds and the interest rate increases
(b) the central bank purchases bonds and the interest rate decreases
(c) the central bank sells bonds and the interest rate increases
(d) the central bank sells bonds and the interest rate decreases
(e) an increase in the reserve requirement ratio
5. The marginal propensity to consume represents
(a) the level of consumption that occurs if disposable income is zero.
(b) the ratio of total consumption to disposable income.
(c) total income minus total taxes.
(d) the change in output caused by a one-unit change in autonomous demand.
(e) the change in consumption caused by a one-unit change in disposable income.
6. Suppose a one-year discount bond offers to pay $1000 in one year and currently has a 15%
interest rate. Given this information, we know that the bond’s price must be approximately:
(a) $870
(b) $1150
(c) $850
(d) $950
(e) $985
7. Equilibrium in the goods market requires that
(a) production equals income.
(b) production equals demand.
(c) consumption equals saving.
(d) consumption equals income.
(e) government spending equals taxes minus transfers.
8. The LM curve shifts down when which of the following occurs.
1.The aggregate supply curve relating the price level to real GDP.docxherminaprocter
1.
The aggregate supply curve relating the price level to real GDP has three distinguishing segments. Which one of the following indicates the segments?
A) The horizontal segment reflects the increasing pressure on the price level as firms bid for resources. The upward-sloping segment reflects the availability of unused resources. The vertical segment reflects the full employment of all resources.
B) The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects the full employment of all resources. The vertical segment reflects the increasing pressure on the price level as firms bid for resources.
C) The horizontal segment reflects the full employment of all resources. The upward-sloping segment reflects the increasing pressure on the price level as firms bid for resources. The vertical segment reflects the availability of unused resources.
D) The horizontal segment reflects the availability of unused resources. The downward-sloping segment reflects decreasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
E) The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects increasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
2.
Fiscal policy is government action to influence aggregate demand and in turn to influence the level of real GDP and the price level, through:
A) expanding and contracting the money supply.
B) regulation of net exports.
C) changes in government spending and/or tax revenues.
D) encouraging businesses to invest.
3.
"It would be an undue hardship to require people whose income is below $15,000 per year to pay income taxes." This statement reflects which of the following principles for a tax?
A) Benefits-received.
B) Inexpensive-to-collect.
C) Ability-to-pay.
D) Fairness of contribution.
4.
Exhibit 14-6 Aggregate supply curve
nar004-1.jpg
In Exhibit 14-6, the aggregate supply curve becomes vertical at GDP = $1,200 because:
A) there are no more workers available at any wage rate to increase real GDP.
B) the price level remains constant.
C) the only workers available would demand higher wage rates.
D) the economy is experiencing low employment and low production.
E) the Treasury is no longer allowed to explain away the deficit with creative accounting
5.
Exhibit 14-8 Aggregate demand and supply
nar005-1.jpg
In Exhibit 14-8, if aggregate demand shifts from AD3 to AD4, real GDP will:
A) rise from $7.0 to $8.0, and the price level will rise from 120 to 140.
B) rise from $7.0 to $8.0, and the price level will rise from 120 to 170.
C) rise from $7.0 to $8.0, and the price level will rise from 100 to 140.
D) not change, and the price level will rise from 120 to 140.
E) rise from $4.0 to $8.0, and the price level will rise from 120 to 140.
6.
The m.
ECN 282 Final Exam Spring 20161.The marginal propensity.docxSALU18
ECN 282
Final Exam Spring 2016
1.
The marginal propensity to consume is equal to:
A)
the proportion of consumer spending as a function of aggregate disposable income.
B)
the change in saving divided by the change in aggregate disposable income.
C)
the ratio of the change in consumer spending to the change in aggregate disposable income.
D)
the change in saving divided by the change in consumer spending.
2.
The MPS plus the MPC must equal:
A)
zero.
B)
one.
C)
income.
D)
saving.
3.
If the MPS = 0.1, then the value of the multiplier equals:
A)
1.
B)
5.
C)
9.
D)
10.
4.
If the multiplier equals 4, then the marginal propensity to save must be equal to:
A)
1/4.
B)
1/2.
C)
3/4.
D)
the marginal propensity to consume.
5.
Suppose that the marginal propensity to consume is 0.8, and investment spending increases by $100 billion. The increase in aggregate demand is:
A)
$100 billion, the same amount as investment spending.
B)
$125 billion, composed of $100 billion in investment spending and $25 billion in consumption.
C)
$80 billion, composed of $100 billion in investment spending and a decrease in consumption of $20 billion.
D)
$500 billion, composed of $100 billion in investment spending and $400 billion in consumption.
6.
The marginal propensity to save is:
A)
savings divided by aggregate income.
B)
the fraction of an additional dollar of disposable income that is saved.
C)
1 + MPC.
D)
savings divided by aggregate income or 1 + MPC.
7.
If disposable income increases by $5 billion and consumer spending increases by $4 billion, the marginal propensity to consume is equal to:
A)
20.
B)
0.8.
C)
1.25.
D)
9.
8.
The spending multiplier is equal to:
A)
MPC / MPS.
B)
1 / (1 – MPS).
C)
MPC + MPS.
D)
1 / (1 – MPC).
9.
Suppose that a financial crisis decreases investment spending by $100 billion and the marginal propensity to consume is 0.8. Assuming no taxes and no trade, by how much will real GDP change?
A)
$500 billion decrease
B)
$200 billion decrease
C)
$800 billion decrease
D)
$400 billion increase
10.
Suppose the government increases spending by $100 billion as a stimulus package. If the MPC is 0.6, then equilibrium income will:
A)
decrease by $250 billion.
B)
increase by $250 billion.
C)
increase by $600 billion.
D)
decrease by $400 billion.
11.
According to the National Bureau of Economic Research, the U.S. economy is going through a severe recession. Most households are trying to save more of their income than before. This increase in private spending will lead to:
A)
an increase in aggregate income, as more saving means more funds for business investment.
B)
a fall in aggregate income, as more saving means people will spend less.
C)
no change in aggregate income, because there is no saving multiplier.
D)
an increase in aggregate income, as an increase in saving will make people wealthier.
12.
A key statistic to measure economic growth is:
A)
the size of the ...
ECON201 Homework 3Question 1 (1 point) The term ”full empl.docxjack60216
ECON201 Homework 3
Question 1 (1 point)
The term ”full employment GDP” is synonymous with which of the following?
Question 1 options:
a)
potential GDP
b)
Keynesian zone
c)
aggregate GDP
d)
macroeconomic equilibrium
Question 2 (1 point)
Whether the economy is in a recession is illustrated in the AD/AS model by how close the _____________________ is to the potential GDP line.
Question 2 options:
a)
AS and AD curve
b)
equilibrium
c)
AD curve
d)
AS curve
Question 3 (1 point)
42. The __________________ in an AD/AS diagram is most relevant to Keynes’s Law.
Question 3 options:
a)
AD curve
b)
AS curve
c)
steep portion of the AS curve
d)
flat portion of the AS curve
Question 4 (1 point)
Changes in the price level of the different components of aggregate demand are reflected in the AD/ASAD/AS macroeconomic model by a ________________________.
Question 4 options:
a)
shorter distance to equilibrium point
b)
longer distance to equilibrium point
c)
flatter top portion of AD curve
d)
downward sloping AD curve
Question 5 (1 point)
Why is productivity growth considered to be the most important factor in the AD/ASAD/AS model?
Question 5 options:
a)
it shifts the AD curve in the short-term
b)
it shifts the AS curve in the long-term
c)
it shifts the AS curve in the short-term
d)
it shifts the AD curve in the long-term
Question 6 (1 point)
_______________________ are economists who generally emphasize the importance of aggregate supply in determining the size of the macroeconomy over the _____________.
Question 6 options:
a)
Keynesian economists; long run
b)
Neoclassical economists; short run
c)
Keynesian economists; short run
d)
Neoclassical economists; long run
Question 7 (1 point)
Potential GDP in the U.S. will be unaffected by ____________________.
Question 7 options:
a)
the unemployment rate
b)
the amount of capital available
c)
government institutions
d)
technology
Question 8 (1 point)
As the aggregate price level in an economy decreases,
Question 8 options:
a)
interest rates decrease.
b)
imports decrease.
c)
consumer demand decreases.
d)
investment decreases.
Question 9 (1 point)
The ____________ describes a situation where sufficient credit is available, but the economy experiences a reduction in consumption and investment.
Question 9 options:
a)
interest rate effect
b)
inflation rate effect
c)
price effect
d)
wealth effect
Question 10 (1 point)
The ____________________ in an AD/AS diagram is most relevant to Say’s Law.
Question 10 options:
a)
steep portion of the AS curve
b)
AD curve
c)
AS curve
d)
flat portion of the AS curve
a)
an increase in economic growth
b)
an increase in input prices
c)
less inflationary pressures
d)
a decrease in the natural unemployment rate
Question 12 (1 point)
Refer to the graph above. A government creating economic policy ...
Bell Company, a manufacturer of audio systems, started its product.docxikirkton
Bell Company, a manufacturer of audio systems, started its production in October 2014. For the preceding 3 years, Bell had been a retailer of audio systems. After a thorough survey of audio system markets, Bell decided to turn its retail store into an audio equipment factory.
Raw materials cost for an audio system will total $75 per unit. Workers on the production lines are on average paid $14 per hour. An audio system usually takes 6 hours to complete. In addition, the rent on the equipment used to assemble audio systems amounts to $5,008 per month. Indirect materials cost $6 per system. A supervisor was hired to oversee production; her monthly salary is $3,455.
Factory janitorial costs are $2,164 monthly. Advertising costs for the audio system will be $9,292 per month. The factory building depreciation expense is $6,384 per year. Property taxes on the factory building will be $8,472 per year.
Assuming that Bell manufactures, on average, 1,598 audio systems per month, enter each cost item on your answer sheet, placing the dollar amount per month under the appropriate headings. Total the dollar amounts in each of the columns.
Product Costs
Cost Item
Direct
Materials
Direct
Labor
Manufacturing
Overhead
Period
Costs
Raw materials (1)
$
$
$
$
Wages for workers (2)
Rent on equipment
Indirect materials (3)
Factory supervisor’s salary
Janitorial costs
Advertising
Depreciation on factory building (4)
Property taxes on factory building (5)
$
$
$
$
ECON 201 Answer Sheet
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.
Short answer questions:
41.
42.
43.
44.
45.
Total:
Final Exam ECON 201 OL1-US1 Fall 2013
Weight of each multiple choice questions is 2 points. Weight of each short answer question is 4 points. Totally 100
points.
Name___________________________________
I. MULTIPLE CHOICE (40 questions 2 points each). Choose the one alternative that best
completes the statement or answers the question.
1) Economics is best defined as the study of: 1) _______
A) inflation, unemployment, and economic growth.
B) financial decision-making.
C) choices made by people faced with scarcity.
D) how consumers make purchasing decisions.
2) Scarcity can best be defined as a situation in which: 2) _______
A) there are not enough goods to satisfy all of the buyers demands.
B) there is more than enough money to satisfy consumers wants.
C) resources are limited in quantity and can be used in different ways.
D) there are no buyers willing to purchase what sellers have produced.
3) Printing presses, forklifts and assembly plants are examples of which factor of production? 3) _______
A) entrepreneurship B) physical capital
C) human capital D) labor
4) Consumption Expenditures can be broken down into three categories: 4) ____ ...
Question 1
1.
Macroeconomics examines:
A.
employment, output, and inflation.
B.
pricing, profit maximization, and utility maximization.
C.
the behavior of individual households, businesses, and government units.
D.
all of the above.
1 points
Question 2
1.
When economists refer to unemployed resources they mean unutilized:
A.
land.
B.
labor.
C.
capital.
D.
all of the above.
1 points
Question 3
1.
Being unemployed can:
A.
cause a person to alter spending patterns and lifestyle.
B.
affect a person's self-esteem and relationships with others.
C.
cause a person to experience depression and other psychological or physiological problems.
D.
all of the above.
1 points
Question 4
1.
Unemployment that occurs when people voluntarily quit their jobs to look for other work, or enter the workforce and are looking for a job, is called:
A.
structural unemployment.
B.
frictional unemployment.
C.
cyclical unemployment.
D.
systematic unemployment.
1 points
Question 5
1.
Unemployment that is due to a decrease in the demand for workers with a certain skill because of technological change is:
A.
frictional.
B.
cyclical.
C.
structural.
D.
seasonal.
1 points
Question 6
1.
The labor force includes all persons:
A.
capable of working, regardless of their age.
B.
who are working, regardless of their age.
C.
16 years of age and older who are working.
D.
16 years of age and older who are working or actively seeking work.
1 points
Question 7
1.
A person who has dropped out of the labor force after a long and unsuccessful search for a job is:
A.
a discouraged worker.
B.
frictionally unemployed.
C.
structurally unemployed.
D.
still included in the unemployment statistics.
1 points
Question 8
1.
The unemployment rate that results when cyclical unemployment is eliminated is the:
A.
full employment rate.
B.
frictional rate.
C.
natural rate.
D.
voluntary rate.
1 points
Question 9
1.
Inflation refers to:
A.
an increase in the general level of prices.
B.
a high price for every good and service.
C.
a high average price for all goods and services.
D.
an increase in the price of every good and service.
1 points
Question 10
1.
Income stated in terms of current dollars is:
A.
money, or nominal, income.
B.
a good measure of purchasing power in a period of severe inflation.
C.
effective income.
D.
real income.
1 points
Question 11
1.
Potential winners from inflation are always:
A.
savers.
B.
lenders.
C.
individuals on fixed incomes.
D.
none of the above.
1 points
Question 12
1.
Demand-pull inflation occurs when:
A.
the supply of money is falling.
B.
taxes are increasing.
C.
the cost of factor inputs is increasing.
D.
the economy is operating at or close to full employment.
1 points
Question 13
1.
Cost-push inflation can result from:
A.
poor productivity.
B.
limited availability of resources.
C.
strong bargaining power of resource owners.
D.
all of the above.
1 po ...
PreparationGo to httpwww.excelsior.edumediaoelstutoringSm.docxIRESH3
Preparation:
Go to: http://www.excelsior.edu/media/oels/tutoring/Smarthinking/new1/Excelsior_ST_intro_0613.htm
Now complete the following:
After you have used the Smarthinking service, write a short paragraph on your experience with Smarthinking.
What did you like or dislike about it? Was it helpful?
Submit your paragraph in a Word document in the assignment. Be sure to check your content and spelling before you submit.
.
Practice Nurses will be comfortable having discussions about dea.docxIRESH3
Practice
Nurses will be comfortable having discussions about death, and will collaborate with the care teams to ensure that patients and families have current and accurate information about the possibility or probability of a patient’s impending death.
Education
Basic and specialist End-of-Life Nursing Education Consortium (ELNEC) resources will be available.
Research
Support the use of evidence-based and ethical care, and support decision-making for care at the end of life.
Administration
Promote work environments in which the standards for excellent care extend through the patient’s death and into post-death care for families.
-from each subcategory of practice, education, research and administration above, 1) describe how the APRN can provide effective care in end of life management.
Minimum 300 words,
3 references no more than 5 years
APA Style
no plagiarism
.
More Related Content
Similar to Question 11. 1) _________ economies are the most effective at pr.docx
Some of the questions have a image involved. I have attached those .docxboadverna
Some of the questions have a image involved. I have attached those images with the quesiton number as the file name.
1. Which statement is true?
a. Today more workers in the U.S. are members of labor unions than any time in our history
b. Today labor unions are weaker than any time in the last 100 years
c. No major labor union has called a strike since the 1940’s
d. Labor unions are relatively strong in the public (government) sector.
2. Exclusive union strategy involves
a. Increasing the demand for the final product, thereby increasing the demand for labor
b. Restricting the supply of union labor
c. Setting job standards and entry qualifications for members
d. Organizing all workers and bargaining for a wage
e. Negotiating only after a strike has been called
3. An example of an exclusive union would be
a. The Internal Brotherhood of the Teamsters
b. The Communications Workers of America
c. The American Medical Association
4. In which one of these years was labor union membership the highest?
a. 1940
b. 1960
c. 1980
d. 1990
5. Which of the following laws stated that attempts to monopolize conspiracies in restraint of trade, and conspiracies to monopolize were illegal?
a. The Federal Trade Commission Act
b. The Clayton Act
c. The Sherman Antitrust Act
d. All of the Choices
e. None of the Choices
6. Until the passage of the Airline Deregulation Act of 1978, the Civil Aeronautics Board controlled all of the following Except?
a. Fares
b. Assigned routes
c. Profits
d. Entry into the industry
7. The Clayton Act prohibited
A. interlocking directories
B. all forms of monopoly
C. foreign control of US corporations
D. False and deceptive advertising
8. Which statement is true?
a. Microsoft is subject to American antitrust laws but not those of Europe, Asia, or elsewhere
b. Microsoft has never been involved in anti -trust suit
c. The European Commission fined Microsoft over 600 billion for its anticompetitive behavior
d. Microsoft has always gone out of its way to be helpful to its competitors
9. A monopolist operated at the minimum point of her ATC curve
a. Only in the short run
b. Only in the long run
c. In both the short and long run
d. In neither the short nor the long run
10. Which of the following is characteristic of a monopoly?
a. The absence of political power
b. Close substitutes products
c. The ability to make an economic profit in the long run
d. Operating at peak efficiency
11. The firm will charge a price of (image involved)
a. 8
b. 9.65
c. 10.
d. 12.
e. 16
12. Statement I Only natural monopolies are legal in the U.S.
Statement II: Large firms generally operate at peak efficiency
A. Statement I is true and statement II is false
B. Statement II is true and statement I is false
C. Both statements are true
D. Both statements are false
13. The nation’s largest bank has assets over
a. 2.5 billion
b. 25 billion
c. 250 billion
d. 800 billion
e. 1.8 trillion
14. Which statement is true?
A. Our money supply is fixed by law and can be raised b.
LOYOLA MARYMOUNT UNIVERSITY Econ 120 – Macroeconomics E.docxSHIVA101531
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
1
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
Multiple Choice (2 points each)
1. The spending multiplier is equal to:
A) MPC / MPS.
B) 1 / (1 – MPS).
C) MPC + MPS.
D) 1 / (1 – MPC).
2. If the marginal propensity to consume is 0.75 and the federal government increases spending by $100 billion,
the income expenditure model would predict that real GDP will increase by:
A) $100 billion.
B) $750 billion.
C) $400 billion.
D) $300 billion.
3. The money demand curve is:
A) downward-sloping because the opportunity cost of holding money is inversely related to the interest rate.
B) downward-sloping because the opportunity cost of holding money rises as the interest rate rises.
C) downward-sloping because the opportunity cost of holding money rises as the interest rate falls.
D) upward-sloping because the opportunity cost of holding money rises with the interest rate.
Figure: Policy Alternatives
4. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government increases
government spending, the result will likely be
A) an increase in unemployment.
B) a decrease in interest rates.
C) inflation.
D) deflation.
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
2
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
5. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government does not
intervene, the result will likely be
A) a shift of AD1 to the left.
B) a shift of SRAS1 to SRAS2.
C) a shift of LRAS to the left.
D) no change in AD or SRAS.
6. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government decides to
intervene, it would most likely
A) increase taxes.
B) decrease the money supply.
C) increase government spending.
D) decrease government spending.
7. In the long run, an increase in AD will result in:
A) no changes in the aggregate price level.
B) no changes in the aggregate output level.
C) increases in both the aggregate price level and the aggregate output level.
D) increases in the aggregate price level but no changes in the aggregate output level.
8. Starting from its potential output, an economy's government increases spending. In the long run, this
economy:
A) will produce at an output level that is greater than its potential output.
B) will produce at its potential output.
C) will produce at an output level that is below its potential output.
D) will produce at its potential output level, but at a lower aggregate price level.
9. In the long run, the aggregate price level falls. This could result from:
A) a leftward shift in AD.
B) a rig ...
ECON 1102, Test 2 (060216) 1
ECON 1102, Section 711, SS1 2016
Do any 40 of the 50 questions: two and one-half points each
Answer questions 1 through 4 based on the graph below.
1. The initial demand curve is D1. There are no rent ceilings or floors. The initial equilibrium monthly rent is
_____. (Put your answer on the answer sheet)
2. The demand curve shifts leftward from D1 to D0 so that D0 is the relevant demand curve. There are no
rent controls. In the short run, the decrease in demand results in
A) lower rents and a decrease in the equilibrium quantity.
B) higher rents and a decrease in the equilibrium quantity.
C) lower rents and an increase in the equilibrium quantity.
D) higher rents and an increase in the equilibrium quantity.
3. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $300 per month. In the short run there will be
A) a shortage and a decrease in search costs. B) a shortage and an increase in search costs.
C) a surplus and an increase in search costs. D) a surplus and a decrease in search costs.
4. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $500 per month. In the short run there will be
A) a surplus of apartments. B) a shortage of 200,000 apartments.
C) a shortage of 300,000 apartments. D) neither a shortage nor a surplus of apartments.
5 A price floor
A) always results in a surplus.
B) always results in a shortage.
C) results in a surplus if the floor price is greater than the equilibrium price.
D) results in a shortage if the floor price is greater than the equilibrium price.
ECON 1102, Test 2 (060216) 2
Answer questions 6 through 8 based on the table below.
Wage rate (dollars
per hour)
Labor supplied
(millions of workers)
Labor demanded
(millions of workers)
12 9 3
11 8 4
10 7 5
9 6 6
8 5 7
6. What is the equilibrium wage rate in an unregulated market? ____ (Put your answer on the answer sheet)
7. If the minimum wage is set at $12 per hour, the number of unemployed workers will be ____
8. If the market is in equilibrium today, and tomorrow a minimum wage is set at $11 per hour, the number of workers
who will lose their jobs is _____
9. In general, how a sales tax is divided between buyers and sellers is determined by
A) the elasticities of supply and demand. C) who the law says must pay the tax.
B) the government’s choice of whom to tax. D) the revenue needs of government.
10. A tariff
A) is a tax imposed on imported goods.
B) is a tax imposed on exported goods.
C) encourages worldwide specialization according to the principle of comparative advantage.
D) has no effect on prices paid by domestic consumers even though it increases the revenue collected by
domestic producers.
11. ...
ECON 301 Intermediate MacroSpring 2019 Problem Set #1Du.docxtidwellveronique
ECON 301: Intermediate Macro
Spring 2019 Problem Set #1
Due: Monday, April 22, 10:30 AM
Directions: Put the names of up to 3 group members at the top of this page.
Please clearly mark each of your answers to the multiple choice questions
in capital letters in the spaces provided below. Please mark your solutions
(preferably typed) to each of the short answer questions on separate sheets
of paper (with clean edges if using notebook paper) and staple or paper
clip your solutions to the multiple choice answer sheet. Hand it in (one per
group) on or before the due date during class time.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
SECTION 1: MULTIPLE CHOICE QUESTIONS
1. Based on your understanding of the aggregate expenditure model, we know with certainty
that an equal and simultaneous increase in G and T will cause:
(a) an increase in output
(b) no change in output
(c) a reduction in output
(d) an increase in investment
(e) a decrease in investment
For the following two questions, suppose an economy produces only milk and butter. As-
sume that all production is consumed in each year, and that price and quantity data are given
in the tables below.
Year 1
Good Quantity Price
Milk 500 $2
Butter 2000 $1
Year 2
Good Quantity Price
Milk 900 $3
Butter 3000 $2
2. (Refer to the above tables) Between Year 1 and Year 2, real GDP (based on Year 1 as a base
year) grew by
(a) 58.18%
(b) 158.18%
(c) 160%
(d) 60%
(e) 260%
3. (Refer to the above tables) Between Year 1 and Year 2, the GDP deflator (based on Year 1
as a base year) rose
(a) 81.25%
(b) 90%
(c) 190%
(d) 83.33
(e) 183.33%
ECON 301: Intermediate Macro Problem Set #1 1
4. Which of the following generally occurs when a central bank pursues expansionary monetary
policy?
(a) the central bank purchases bonds and the interest rate increases
(b) the central bank purchases bonds and the interest rate decreases
(c) the central bank sells bonds and the interest rate increases
(d) the central bank sells bonds and the interest rate decreases
(e) an increase in the reserve requirement ratio
5. The marginal propensity to consume represents
(a) the level of consumption that occurs if disposable income is zero.
(b) the ratio of total consumption to disposable income.
(c) total income minus total taxes.
(d) the change in output caused by a one-unit change in autonomous demand.
(e) the change in consumption caused by a one-unit change in disposable income.
6. Suppose a one-year discount bond offers to pay $1000 in one year and currently has a 15%
interest rate. Given this information, we know that the bond’s price must be approximately:
(a) $870
(b) $1150
(c) $850
(d) $950
(e) $985
7. Equilibrium in the goods market requires that
(a) production equals income.
(b) production equals demand.
(c) consumption equals saving.
(d) consumption equals income.
(e) government spending equals taxes minus transfers.
8. The LM curve shifts down when which of the following occurs.
1.The aggregate supply curve relating the price level to real GDP.docxherminaprocter
1.
The aggregate supply curve relating the price level to real GDP has three distinguishing segments. Which one of the following indicates the segments?
A) The horizontal segment reflects the increasing pressure on the price level as firms bid for resources. The upward-sloping segment reflects the availability of unused resources. The vertical segment reflects the full employment of all resources.
B) The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects the full employment of all resources. The vertical segment reflects the increasing pressure on the price level as firms bid for resources.
C) The horizontal segment reflects the full employment of all resources. The upward-sloping segment reflects the increasing pressure on the price level as firms bid for resources. The vertical segment reflects the availability of unused resources.
D) The horizontal segment reflects the availability of unused resources. The downward-sloping segment reflects decreasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
E) The horizontal segment reflects the availability of unused resources. The upward-sloping segment reflects increasing pressure on the price level as firms bid for resources. The vertical segment reflects the full employment of all resources.
2.
Fiscal policy is government action to influence aggregate demand and in turn to influence the level of real GDP and the price level, through:
A) expanding and contracting the money supply.
B) regulation of net exports.
C) changes in government spending and/or tax revenues.
D) encouraging businesses to invest.
3.
"It would be an undue hardship to require people whose income is below $15,000 per year to pay income taxes." This statement reflects which of the following principles for a tax?
A) Benefits-received.
B) Inexpensive-to-collect.
C) Ability-to-pay.
D) Fairness of contribution.
4.
Exhibit 14-6 Aggregate supply curve
nar004-1.jpg
In Exhibit 14-6, the aggregate supply curve becomes vertical at GDP = $1,200 because:
A) there are no more workers available at any wage rate to increase real GDP.
B) the price level remains constant.
C) the only workers available would demand higher wage rates.
D) the economy is experiencing low employment and low production.
E) the Treasury is no longer allowed to explain away the deficit with creative accounting
5.
Exhibit 14-8 Aggregate demand and supply
nar005-1.jpg
In Exhibit 14-8, if aggregate demand shifts from AD3 to AD4, real GDP will:
A) rise from $7.0 to $8.0, and the price level will rise from 120 to 140.
B) rise from $7.0 to $8.0, and the price level will rise from 120 to 170.
C) rise from $7.0 to $8.0, and the price level will rise from 100 to 140.
D) not change, and the price level will rise from 120 to 140.
E) rise from $4.0 to $8.0, and the price level will rise from 120 to 140.
6.
The m.
ECN 282 Final Exam Spring 20161.The marginal propensity.docxSALU18
ECN 282
Final Exam Spring 2016
1.
The marginal propensity to consume is equal to:
A)
the proportion of consumer spending as a function of aggregate disposable income.
B)
the change in saving divided by the change in aggregate disposable income.
C)
the ratio of the change in consumer spending to the change in aggregate disposable income.
D)
the change in saving divided by the change in consumer spending.
2.
The MPS plus the MPC must equal:
A)
zero.
B)
one.
C)
income.
D)
saving.
3.
If the MPS = 0.1, then the value of the multiplier equals:
A)
1.
B)
5.
C)
9.
D)
10.
4.
If the multiplier equals 4, then the marginal propensity to save must be equal to:
A)
1/4.
B)
1/2.
C)
3/4.
D)
the marginal propensity to consume.
5.
Suppose that the marginal propensity to consume is 0.8, and investment spending increases by $100 billion. The increase in aggregate demand is:
A)
$100 billion, the same amount as investment spending.
B)
$125 billion, composed of $100 billion in investment spending and $25 billion in consumption.
C)
$80 billion, composed of $100 billion in investment spending and a decrease in consumption of $20 billion.
D)
$500 billion, composed of $100 billion in investment spending and $400 billion in consumption.
6.
The marginal propensity to save is:
A)
savings divided by aggregate income.
B)
the fraction of an additional dollar of disposable income that is saved.
C)
1 + MPC.
D)
savings divided by aggregate income or 1 + MPC.
7.
If disposable income increases by $5 billion and consumer spending increases by $4 billion, the marginal propensity to consume is equal to:
A)
20.
B)
0.8.
C)
1.25.
D)
9.
8.
The spending multiplier is equal to:
A)
MPC / MPS.
B)
1 / (1 – MPS).
C)
MPC + MPS.
D)
1 / (1 – MPC).
9.
Suppose that a financial crisis decreases investment spending by $100 billion and the marginal propensity to consume is 0.8. Assuming no taxes and no trade, by how much will real GDP change?
A)
$500 billion decrease
B)
$200 billion decrease
C)
$800 billion decrease
D)
$400 billion increase
10.
Suppose the government increases spending by $100 billion as a stimulus package. If the MPC is 0.6, then equilibrium income will:
A)
decrease by $250 billion.
B)
increase by $250 billion.
C)
increase by $600 billion.
D)
decrease by $400 billion.
11.
According to the National Bureau of Economic Research, the U.S. economy is going through a severe recession. Most households are trying to save more of their income than before. This increase in private spending will lead to:
A)
an increase in aggregate income, as more saving means more funds for business investment.
B)
a fall in aggregate income, as more saving means people will spend less.
C)
no change in aggregate income, because there is no saving multiplier.
D)
an increase in aggregate income, as an increase in saving will make people wealthier.
12.
A key statistic to measure economic growth is:
A)
the size of the ...
ECON201 Homework 3Question 1 (1 point) The term ”full empl.docxjack60216
ECON201 Homework 3
Question 1 (1 point)
The term ”full employment GDP” is synonymous with which of the following?
Question 1 options:
a)
potential GDP
b)
Keynesian zone
c)
aggregate GDP
d)
macroeconomic equilibrium
Question 2 (1 point)
Whether the economy is in a recession is illustrated in the AD/AS model by how close the _____________________ is to the potential GDP line.
Question 2 options:
a)
AS and AD curve
b)
equilibrium
c)
AD curve
d)
AS curve
Question 3 (1 point)
42. The __________________ in an AD/AS diagram is most relevant to Keynes’s Law.
Question 3 options:
a)
AD curve
b)
AS curve
c)
steep portion of the AS curve
d)
flat portion of the AS curve
Question 4 (1 point)
Changes in the price level of the different components of aggregate demand are reflected in the AD/ASAD/AS macroeconomic model by a ________________________.
Question 4 options:
a)
shorter distance to equilibrium point
b)
longer distance to equilibrium point
c)
flatter top portion of AD curve
d)
downward sloping AD curve
Question 5 (1 point)
Why is productivity growth considered to be the most important factor in the AD/ASAD/AS model?
Question 5 options:
a)
it shifts the AD curve in the short-term
b)
it shifts the AS curve in the long-term
c)
it shifts the AS curve in the short-term
d)
it shifts the AD curve in the long-term
Question 6 (1 point)
_______________________ are economists who generally emphasize the importance of aggregate supply in determining the size of the macroeconomy over the _____________.
Question 6 options:
a)
Keynesian economists; long run
b)
Neoclassical economists; short run
c)
Keynesian economists; short run
d)
Neoclassical economists; long run
Question 7 (1 point)
Potential GDP in the U.S. will be unaffected by ____________________.
Question 7 options:
a)
the unemployment rate
b)
the amount of capital available
c)
government institutions
d)
technology
Question 8 (1 point)
As the aggregate price level in an economy decreases,
Question 8 options:
a)
interest rates decrease.
b)
imports decrease.
c)
consumer demand decreases.
d)
investment decreases.
Question 9 (1 point)
The ____________ describes a situation where sufficient credit is available, but the economy experiences a reduction in consumption and investment.
Question 9 options:
a)
interest rate effect
b)
inflation rate effect
c)
price effect
d)
wealth effect
Question 10 (1 point)
The ____________________ in an AD/AS diagram is most relevant to Say’s Law.
Question 10 options:
a)
steep portion of the AS curve
b)
AD curve
c)
AS curve
d)
flat portion of the AS curve
a)
an increase in economic growth
b)
an increase in input prices
c)
less inflationary pressures
d)
a decrease in the natural unemployment rate
Question 12 (1 point)
Refer to the graph above. A government creating economic policy ...
Bell Company, a manufacturer of audio systems, started its product.docxikirkton
Bell Company, a manufacturer of audio systems, started its production in October 2014. For the preceding 3 years, Bell had been a retailer of audio systems. After a thorough survey of audio system markets, Bell decided to turn its retail store into an audio equipment factory.
Raw materials cost for an audio system will total $75 per unit. Workers on the production lines are on average paid $14 per hour. An audio system usually takes 6 hours to complete. In addition, the rent on the equipment used to assemble audio systems amounts to $5,008 per month. Indirect materials cost $6 per system. A supervisor was hired to oversee production; her monthly salary is $3,455.
Factory janitorial costs are $2,164 monthly. Advertising costs for the audio system will be $9,292 per month. The factory building depreciation expense is $6,384 per year. Property taxes on the factory building will be $8,472 per year.
Assuming that Bell manufactures, on average, 1,598 audio systems per month, enter each cost item on your answer sheet, placing the dollar amount per month under the appropriate headings. Total the dollar amounts in each of the columns.
Product Costs
Cost Item
Direct
Materials
Direct
Labor
Manufacturing
Overhead
Period
Costs
Raw materials (1)
$
$
$
$
Wages for workers (2)
Rent on equipment
Indirect materials (3)
Factory supervisor’s salary
Janitorial costs
Advertising
Depreciation on factory building (4)
Property taxes on factory building (5)
$
$
$
$
ECON 201 Answer Sheet
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.
Short answer questions:
41.
42.
43.
44.
45.
Total:
Final Exam ECON 201 OL1-US1 Fall 2013
Weight of each multiple choice questions is 2 points. Weight of each short answer question is 4 points. Totally 100
points.
Name___________________________________
I. MULTIPLE CHOICE (40 questions 2 points each). Choose the one alternative that best
completes the statement or answers the question.
1) Economics is best defined as the study of: 1) _______
A) inflation, unemployment, and economic growth.
B) financial decision-making.
C) choices made by people faced with scarcity.
D) how consumers make purchasing decisions.
2) Scarcity can best be defined as a situation in which: 2) _______
A) there are not enough goods to satisfy all of the buyers demands.
B) there is more than enough money to satisfy consumers wants.
C) resources are limited in quantity and can be used in different ways.
D) there are no buyers willing to purchase what sellers have produced.
3) Printing presses, forklifts and assembly plants are examples of which factor of production? 3) _______
A) entrepreneurship B) physical capital
C) human capital D) labor
4) Consumption Expenditures can be broken down into three categories: 4) ____ ...
Question 1
1.
Macroeconomics examines:
A.
employment, output, and inflation.
B.
pricing, profit maximization, and utility maximization.
C.
the behavior of individual households, businesses, and government units.
D.
all of the above.
1 points
Question 2
1.
When economists refer to unemployed resources they mean unutilized:
A.
land.
B.
labor.
C.
capital.
D.
all of the above.
1 points
Question 3
1.
Being unemployed can:
A.
cause a person to alter spending patterns and lifestyle.
B.
affect a person's self-esteem and relationships with others.
C.
cause a person to experience depression and other psychological or physiological problems.
D.
all of the above.
1 points
Question 4
1.
Unemployment that occurs when people voluntarily quit their jobs to look for other work, or enter the workforce and are looking for a job, is called:
A.
structural unemployment.
B.
frictional unemployment.
C.
cyclical unemployment.
D.
systematic unemployment.
1 points
Question 5
1.
Unemployment that is due to a decrease in the demand for workers with a certain skill because of technological change is:
A.
frictional.
B.
cyclical.
C.
structural.
D.
seasonal.
1 points
Question 6
1.
The labor force includes all persons:
A.
capable of working, regardless of their age.
B.
who are working, regardless of their age.
C.
16 years of age and older who are working.
D.
16 years of age and older who are working or actively seeking work.
1 points
Question 7
1.
A person who has dropped out of the labor force after a long and unsuccessful search for a job is:
A.
a discouraged worker.
B.
frictionally unemployed.
C.
structurally unemployed.
D.
still included in the unemployment statistics.
1 points
Question 8
1.
The unemployment rate that results when cyclical unemployment is eliminated is the:
A.
full employment rate.
B.
frictional rate.
C.
natural rate.
D.
voluntary rate.
1 points
Question 9
1.
Inflation refers to:
A.
an increase in the general level of prices.
B.
a high price for every good and service.
C.
a high average price for all goods and services.
D.
an increase in the price of every good and service.
1 points
Question 10
1.
Income stated in terms of current dollars is:
A.
money, or nominal, income.
B.
a good measure of purchasing power in a period of severe inflation.
C.
effective income.
D.
real income.
1 points
Question 11
1.
Potential winners from inflation are always:
A.
savers.
B.
lenders.
C.
individuals on fixed incomes.
D.
none of the above.
1 points
Question 12
1.
Demand-pull inflation occurs when:
A.
the supply of money is falling.
B.
taxes are increasing.
C.
the cost of factor inputs is increasing.
D.
the economy is operating at or close to full employment.
1 points
Question 13
1.
Cost-push inflation can result from:
A.
poor productivity.
B.
limited availability of resources.
C.
strong bargaining power of resource owners.
D.
all of the above.
1 po ...
PreparationGo to httpwww.excelsior.edumediaoelstutoringSm.docxIRESH3
Preparation:
Go to: http://www.excelsior.edu/media/oels/tutoring/Smarthinking/new1/Excelsior_ST_intro_0613.htm
Now complete the following:
After you have used the Smarthinking service, write a short paragraph on your experience with Smarthinking.
What did you like or dislike about it? Was it helpful?
Submit your paragraph in a Word document in the assignment. Be sure to check your content and spelling before you submit.
.
Practice Nurses will be comfortable having discussions about dea.docxIRESH3
Practice
Nurses will be comfortable having discussions about death, and will collaborate with the care teams to ensure that patients and families have current and accurate information about the possibility or probability of a patient’s impending death.
Education
Basic and specialist End-of-Life Nursing Education Consortium (ELNEC) resources will be available.
Research
Support the use of evidence-based and ethical care, and support decision-making for care at the end of life.
Administration
Promote work environments in which the standards for excellent care extend through the patient’s death and into post-death care for families.
-from each subcategory of practice, education, research and administration above, 1) describe how the APRN can provide effective care in end of life management.
Minimum 300 words,
3 references no more than 5 years
APA Style
no plagiarism
.
PrejudiceAlthough related, stereotypes and prejudice are separ.docxIRESH3
Prejudice
Although related, stereotypes and prejudice are separate entities.
Prejudice
is holding negative feelings for a group of people, or even a particular person, and is often considered the “emotional component to intergroup attitudes” (Levy & Hughes, 2009, p. 24). As mentioned in the previous week,
stereotyping
is the “cognitive process of intergroup attitudes,” generally referring to associating attributes to a particular group (Levy & Hughes, 2009, p. 24). The presence of stereotypes or intergroup bias leads to prejudiced behavior in some instances. When prejudice behavior does occur, the individual’s emotional response often plays a role.
For this Discussion, review the media
Prejudice
and consider how the emotions and stereotyping of the people in the media impacted their prejudiced behavior.
Reference:
Levy, S. R., & Hughes, J. M. (2009). Development of racial and ethnic prejudice among children. In T. D. Nelson (Ed.),
Handbook of prejudice, stereotyping, and discrimination
(pp. 23–42). New York, NY: Psychology Press.
With these thoughts in mind:
Post by Day 4
a brief interpretation of the events in the media. Then, describe any prejudiced behavior you observed and explain two ways the emotions of hte people in the media may have impacted their prejudiced behavior and why. Next, explain how the prejudice you observed in the media reinforced or disconfirmed stereotype content. Finally, explain how this information helps us understand the maintenance of group attitudes over time and situation.
Bottom of Form
·
Media: Laureate Education, Inc. (Executive Producer). (2011).
Prejudice
.
Baltimore, MD: Author.
(Click on the television screen once the video opens in a new window. “The Company” will appear on the television image.)
Note:
While the content within this media piece references Week 11, it is intended for Week 10 in this course.
·
o
Transcript
Readings
·
Course Text:
Handbook of Prejudice, Stereotyping, and Discrimination
·
o
Chapter 2, "Development of Racial and Ethnic Prejudice Among Children"
o
Chapter 14, "Intergroup Emotions Theory"
o
Chapter 15, "How Our Dreams of Death Transcendence Breed Prejudice, Stereotyping, and Conflict: Terror Management Theory"
·
Article: Devine, P. G. (1989). Stereotypes and prejudice: Their automatic and controlled components.
Journal of Personality and Social Psychology, 56
(1), 5–18. Retrieved from the Walden Library using the PsycINFO database.
.
PowerPoint1.Apple effects on Samsung·8 slides·Refe.docxIRESH3
PowerPoint
1.
Apple effects on Samsung
·
8 slides
·
References or Citation (MLA)
2.
Global, Ethics and Security Management
·
8 slides and 1 video
·
References or Citation (MLA)
.
PowerPoint with 10 slides and speaker notes with 75-150 words per .docxIRESH3
PowerPoint with 10 slides and speaker notes with 75-150 words per slide
The Medical Staff Coordinator has requested that you prepare a 10 slide PowerPoint presentation on one of the following topics to discuss with the incoming residents. The Medical Staff Coordinator has also requested you maintain a neutral position, discussing the legal and ethical issues surrounding the topic. You are also asked to use research (at least 2 sources) to substantiate your discussion.
Choose one of the following topics of contemporary ethical dilemmas.
Acquired Immune Deficiency Syndrome (AIDS)
Organ Donations
Human Genetics
Euthanasia
Assisted Suicide
Stem Cell Research
Abortion
.
preferences
Document Viewer
Turnitin
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Processed on: 28-Oct-2014 8:41 AM CDT
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Word Count: 1441
Submitted: 1
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By Renu Kumar
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Running head: THE EFFECTS OF POPULATION DENSITY AND NOISE The Effects of Population Density and Noise
Renu Kumar
PSY/460
November 3, 2013 Christine Hander The
Effects of Population Density and Noise Population density and noise
can have many
effects
on individuals.
Population density
is
the
amount
of
people, which live in a particular area. Along with population density, comes noise; noise is typically an unwanted distraction. In this paper the subject to discuss is
the concepts of territoriality, privacy, and personal space; examine how the concepts of territoriality, privacy, and personal space have become increasingly important as
populations become
denser; clarify the effect nature has on individuals living in urban environments, describe the concept of noise and examine the effect it has on individuals; and examine strategies that can be used to reduce noise in the workplace or in the living environment. Concepts of
Territoriality,
Privacy, and Personal Space
Territories are areas
marked and defended by
their owners
and
often
used for life- sustaining activities
(Territoriality, 2004). The most common example of a person's territory would be his or her home because one tends to personalize and defend what is theirs. A person identifies themselves with his or her territory and any threat to that territory feels like a threat to themselves (Territoriality, 2004). A person feels connected to his or her territory and sees it as a means to satisfying his or her needs within society. Privacy is the selective control of access to oneself and group (Privacy, 2004). A person has the ability to decide who to allow in his or her territory or personal space. A person's
personal space
describes
the emotionally tinged zone around the .
Precedents Set By George WashingtonGeorge Washington was aware tha.docxIRESH3
Precedents Set By George Washington
George Washington was aware that many of his actions would be regarded as precedents. Here are three precedents that Washington established:
Washington created the first Presidential Cabinet. Who was on the Cabinet, and what Departments did they represent? Who is on the Cabinet today, and what Departments do they represent?
Washington was the first President to leave office after two terms. Is that precedent still followed today? Why or why not?
Washington was the first to establish foreign policy, and issued the Proclamation of Neutrality. What situation did this proclamation address? What agency advises the President on foreign policy today? What is the role of this agency?
Be sure to include where you got your information. For example, include web site addresses. Must be a page and half.
.
Predictors of Abusive Supervision Supervisor Perceptions of Deep.docxIRESH3
“Predictors of Abusive Supervision: Supervisor Perceptions of Deep
-Level Dissimilarity, Relationship Conflict, and
Subordinate Performance,” by Bennett Tepper, Sherry Moss, and
Michelle Duffy.
Write your critique in standard essay form. Begin with an introduction that defines the subject of your critique and your
point of view. You will need to identify and explain the author's ideas. Include specific passages that support your
description of the author's point of view. Offer your own opinion. Explain what you think about the argument. Defend your
point of view by raising specific issues or aspects of the argument. Describe several points with which you agree or
disagree and include specific passages from the article (you may summarize, quote, or paraphrase) that provide evidence
for your point of view. Explain how the passages support your opinion. Conclude your critique by summarizing your
argument and re-emphasizing your opinion. Your critique should be at least two full pages in length, using 12-point
double-spaced Times Roman font using APA format.
.
Pre-Lab QuestionsWhat major event occurs during interphase.docxIRESH3
Pre-Lab Questions
What major event occurs during interphase?
A person, residing in a location where they are exposed to the sun often, develops a mutation in some of their skin cells resulting in cancer. Consider whether their offspring will be born with the same mutation. Use scientific evidence to support your answer.
Experiment 1: Following Chromosomal DNA Movement through Meiosis
Data Tables and Post-Lab Assessment
Part 1 - Meiotic Division Beads Diagram without Crossing Over
Prophase I
Metaphase I
Anaphase I
Telophase I
Prophase II
Metaphase II
Anaphase II
Telophase II
Cytokinesis
Part 2:
Meiotic Division Beads Diagram
with Crossing Over
Prophase I
Metaphase I
Anaphase I
Telophase I
Prophase II
Metaphase II
Anaphase II
Telophase II
Cytokinesis
Post-Lab Questions
1.
What is the ploidy of the DNA at the end of meiosis I? What about at the end of meiosis II?
2.
How are meiosis I and meiosis II different?
3.
Why do you use non-sister chromatids to demonstrate crossing over?
4.
What combinations of alleles could result from a crossover between BD and bd chromosomes?
5.
How many chromosomes were present when meiosis I started?
6.
How many nuclei are present at the end of meiosis II? How many chromosomes are in each?
7.
Identify two ways that meiosis contributes to genetic recombination.
8.
Why is it necessary to reduce the number of chromosomes in gametes, but not in other cells?
9.
Blue whales have 44 chromosomes in every cell. Determine how many chromosomes you would expect to find in the following:
Sperm Cell:
Egg Cell:
Daughter Cell from Meiosis I:
Daughter Cell from Meiosis II:
10.
Research and find a disease that is caused by chromosomal mutations. When does the mutation occur? What chromosomes are affected? What are the consequences?
11.
Diagram what would
happen if sexual reproduction took place for four generations using diploid (2n) cells.
Experiment 2: The Importance of Cell Cycle Control
Data
Post-Lab Questions
1.
Record your hypothesis from Step 1 in the Procedure section here.
2.
What do your results indicate about cell cycle control?
3.
Suppose a person developed a mutation in a somatic cell which diminishes the performance of the body’s natural cell cycle control proteins. This mutation resulted in cancer, but was effectively treated with a cocktail of cancer-fighting techniques. Is it possible for this person’s future children to inherit this cancer-causing mutation? Be specific when you explain why or why not.
4.
Why do cells which lack cell cycle control exhibit karyotypes which look physically different than cells with normal cell cycle.
5.
What are HeLa cells? Why are HeLa cells appropriate for this experiment?
.
Pre-Lab QuestionsUse the following classificatio.docxIRESH3
Pre-Lab Questions
Use the following classifications to determine which organism is least related out of the three. Explain your rationale.
Table 2: Classifications
Classification Level
American Green Tree Frog
European Fire- Bellied Toad
Eastern Newt
Domain
Eukarya
Eukarya
Eukarya
Kingdom
Animalia
Animalia
Animalia
Phylum
Chordata
Chordata
Chordata
Class
Amphibia
Amphibia
Amphibia
Order
Anura
Anura
Caudata
Family
Hylidae
Bombinatoridae
Salamandridae
Genus
Tursipops
Bombina
Notophthalmus
Species
cinerea
bombina
viridescens
How has DNA sequencing affected the science of classifying organisms?
You are on vacation and see an organism that you do not recognize. Discuss what possible steps you can take to classify it.
Exercise 1: Dichotomous Key Practice
Table 3: Dichotomous Key Results
Organism
Binomial Name
i
ii
iii
iv
v
vi
vii
viii
ix
x
xi
xii
xiii
Post-Lab Questions
What do you notice about the options of each step as they go from number one up?
How does your answer from Que
stion 1 relate to the Linnaean classification system?
Exercise 2: Classification of Organisms
Data Tables and Post-Lab Assessment
Table 2: Key Characteristics of Some Organisms
Organism
Kingdom
Domain
Defined Nucleus
Motile
Cell Wall
Photosynthesis
Unicellular
E. coli
Yes
Yes
Protozoa
Yes
Yes
Yes
Mushroom
Yes
Yes
Sunflower
Yes
Yes
Yes
Bear
Yes
Yes
Figure 4:
Exercise 2 - Classification of Organisms Flow Chart
Post-Lab Questions
Did this series of questions correctly organize each organism? Why or why not?
What additional questions would you ask to further categorize the items
within
the kingdoms (Hint: think about other organisms in each of the kingdoms and what makes them different than the examples used here)?
What questions would you have asked instead of the ones that you answered above when classifying the organisms?
.
Pre-Lab QuestionsNitrogen fixation is a natural process by whi.docxIRESH3
Pre-Lab Questions
Nitrogen fixation is a natural process by which inert or unreactive forms of nitrogen are transformed into usable nitrogen. Why is this process important to life?
Given when you have learned about the hydrogen bonding shared between nucleic acids in DNA, which pair is more stable under increasing heat: adenine and thymine, or cytosine and guanine? Explain why.
Which of the following is not an organic molecule; Methane (CH
4
), Fructose (C
6
H
12
O
6
), Ethanol (C
6
H
12
O), or Ammonia (NH
3
)? How do you know?
Experiment 1: Testing for Proteins
Data Tables and Post-Lab Assessment
Table 1: A Priori Predictions
Table 1: A Priori Predictions
Sample
Will There be Protein Present?
Initial Color
Final Color
1 - Albumin
Solution
2 - Gelatin
.
Pre-AssignmentWrite a 3-4 page paper (not counting cover page and .docxIRESH3
Pre-Assignment
Write a 3-4 page paper (not counting cover page and refeence page) that addresses your view on the following:
1. Why do you think people protest?
2. What aspects of movements do you feel reflect a democratic character and democratic processes?
3. Why do you think some movements, notably the U.S.Civil Rights Movement, are widely celebrated and others are feared?
4. Why do you think protesters sometimes become violent, and does it help or hurt their cause?
5. In your opinion, are conventional tactics like rallies and marches more effective; why or why not?
Course textbook using: Eitzen, D. Stanley & Stewart, Kenneth (2007).
Solution
s to social problems from the bottom up:
successful social movements
.
Pearson Education, Inc. [ISBN-10: 0205468845]
.
PowerPoint Length 6 slides (excluding title and reference slid.docxIRESH3
PowerPoint Length:
6 slides (excluding title and reference slides) and speaker notes of 200 words per slide
A key component of an effective workplace is the ability of the groups to successfully collaborate. Choose a work group within your organization. Using a model of organizational improvement, plan a development project for this group. Include responses to the following in your presentation:
Describe the group, its purpose (work function), how this group fits into the overall organization, its reporting relationships, and its key stakeholders.
How will you gather data (interviews, questionnaires, or group discussions) from the group and any key stakeholders?
Describe the type of data that you will need to design your development plan.
How will you diagnose the level of functioning for the group?
Give a few examples of developmental activities that you would use for various levels of functioning that are based on your diagnosis.
How would you communicate the progress of the group to both group members and key stakeholders?
4ip
.
Practice Before IRS Please respond to the followinghttpwww..docxIRESH3
Practice Before IRS"
Please respond to the following:
http://www.irs.gov/Tax-Professionals/Enrolled-Agents/Circular-230-Disciplinary-Proceedings
,
analyze the persons / parties that the disciplinary proceedings are applicable too. Based on your analysis, propose at least two (2) other persons / parties that you would add. Provide support for your proposal.
Analyze Section 10.82 disciplinary proceedings for expedited suspension. Based on your analysis, give your opinion as to whether or not the expedited suspension rules are an effective deterrent to violators. Justify your response.
.
PPT about fair use advertisement case in bisiness law.Introduce pr.docxIRESH3
PPT about fair use advertisement case in bisiness law.
Introduce presenter and case.
What is the subject of the case?
Highest Court which heard case.
Relevant facts stated concisely.
Outcome of case.
Court’s reasoning explained clearly.
Historical context explained. At least date.
Update of law.
.
Prejudice, Stereotypes, and DiscriminationIn many cases, prejudice.docxIRESH3
Prejudice, Stereotypes, and Discrimination
In many cases, prejudice stems from the unknown. As individuals, we tend to migrate toward those who may look like us, act like us, and think like us. As a result, it may be difficult for us to open our minds and embrace those whose values, beliefs, and overall sense of self differ from our own.
For this assignment, compose a paper that is three to four pages in length. In your paper, discuss the impacts of prejudice, stereotypes, and discrimination in the context of social psychology. Be sure to address the following points:
1. Define and describe the following terms: prejudice, stereotype, discrimination, and ingroup vs. outgroup. Based on your own experiences in the social world, can you relate to any of these terms? Do you identify with a particular term? Why or why not?
2. Examine the social, cognitive, and societal origins of prejudice and stereotypes. Be sure to include specific information regarding categorization, such as ingroup favoritism and the outgroup homogeneity effect, norms, competition for resources, and social inequalities. Of the categories presented, which do you think are the most significant in our society and in your particular community?
3. Analyze the influences that promote stereotyping, and offer strategies to reduce prejudice. What are the consequences of stereotyping and discrimination? Who does this behavior hurt, and in what ways does it hurt them? Are we inadvertently creating self-fulfilling prophecies in our society? If so, how can we take steps to improve attitudes, judgments, and behaviors?
Your paper must include an introduction, a thesis statement, and a conclusion. Your completed assignment should be three to four pages in length (excluding title and reference pages), include a minimum of three references, and follow APA guidelines as outlined in the Ashford Writing Center.
.
Preparation•Review the document titled City of Charlottesville 20.docxIRESH3
Preparation
•Review the document titled “City of Charlottesville 2010 Annual Comprehensive Plan” located in the course shell. Write a three to four (3-4) page paper in which you:
1.
Review the “City of Charlottesville 2010 Annual Comprehensive Plan” and then complete Exercise 1 on page 152 using Exhibits C and D in the Annual Report and Table 9.4 on page 148. Change the title headers to the agency name. Save the Excel File as the agency’s name and include the Multiyear Plan.
2.
Analyze the comparison of ratios.
3.
Analyze the measures of liquidity.
4.
Analyze the long-term solvency.
5.
Analyze asset management rations.
.
PowerPoint presentationImagine that you are a consultant for a.docxIRESH3
PowerPoint presentation
Imagine that you are a consultant for an organization, and they want you to work on developing their core values. The organization would like their core values to reflect key attributes of their culture.
Select an organization, such as a company, community group, or nonprofit organization.
Create a 10- to 12-Microsoft® PowerPoint® slide presentation describing cultural, research-based models and how they help clarify the organization's core values.
Include at least three credible, peer-reviewed references.
Format the citations in your presentation consistent with APA guidelines.
.
PowerPoint PresentationImagine that you are at your job discussi.docxIRESH3
PowerPoint Presentation
Imagine that you are at your job discussing how much you are learning throughout your Sociology of Sport class.This has
led some of them to ask you to present the newfound knowledge to your monthly
“brown bag lunch”
group at work.
Create a PowerPoint presentation to share with your colleagues that discusses the three major theories found in Unit I:
1. Cultural theories
2. Interactionist theories
3. Structural theories
Include the following information regarding the theories:
What is known about the theory
Major focus of the analysis
Major concepts used
Related research studies
Please make sure to have a title slide with the title of the slideshow and your name, slides that are relevant for this
presentation, and a closing reference slide. You can also use the slide notes at the bottom of each slide as well, but it is
not required. Also, be creative with your slides.
You are required to have
at least six (6) slides
not including the title slide and reference slide. Please be creative with your
presentation through the use of colors, pictures, and other graphics.
Use your own words, and include citations for sources. In addition, consider utilizing the Success Center to help with
your presentation.
.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Question 11. 1) _________ economies are the most effective at pr.docx
1. Question 1
1. 1) _________ economies are the most effective at promoting
economic growth.
a.
Command
b.
Closed
c.
Open
d.
Inflationary
3 points
Question 2
1. 1) Limiting the immigration of highly educated professionals
hurts U.S. economic growth because
a.
it restricts the supply of high human capital workers and the
new ideas they could potentially generate.
b.
it restricts the knowledge base of the workforce.
c.
immigrants always cost less to hire than native workers do.
2. d.
both a. and b.
3 points
Question 3
1. 1) Economic growth is positively related to all of the
following except
a.
import tariffs.
b.
the rate of investment.
c.
the rate of saving.
d.
the growth of technology.
3 points
Question 4
1. 1) Supply-side inflation can be caused by a continual
a.
increase in aggregate demand while aggregate supply remains
unchanged.
b.
decrease in aggregate supply while aggregate demand remains
unchanged.
c.
increase in aggregate supply while aggregate demand remains
3. unchanged.
d.
decrease in aggregate demand while aggregate supply
significantly decreases.
3 points
Question 5
1. 1) The aggregate demand curve would shift to the right as a
result of
a.
a drop in the foreign exchange value of a dollar.
b.
tax increases.
c.
a drop in the price level.
d.
a decrease in the amount of money in circulation.
3 points
Question 6
1. 1) The total of all planned real expenditures in the economy
is
a.
aggregate GDP.
b.
aggregate consumption.
4. c.
aggregate spending.
d.
aggregate demand.
3 points
Question 7
1. 1) Consider this statement: “Persistent inflation in a growing
economy is possible only if the aggregate demand curve shifts
rightward over time at a faster pace than the rightward
progression of the long-run aggregate supply curve.” This
statement is describing:
a.
demand-side inflation.
b.
supply-side inflation.
c.
demand- and supply-side inflation.
d.
neither demand- nor supply-side inflation.
3 points
Question 8
1. 1) Which of the following best exemplifies Say’s Law?
a.
The more you consume the less additional satisfaction you
receive from additional consumption of the good.
b.
5. A decrease in the price of a good leads to larger amounts of the
good being purchased.
c.
The production of a $4000 Plasma TV set creates demand for
other goods and services valued at $4000.
d.
Increases in labor eventually lead to smaller and smaller
increases in output.
3 points
Question 9
1. 1) All of the following will shift the short-run aggregate
supply curve and long-run aggregate supply curve except for
a.
a depletion of raw materials.
b.
a temporary change in raw materials.
c.
decreased competition.
d.
increased education and training for the labor force.
3 points
Question 10
1. 1) The LRAS curve is vertical because unemployment is at its
________________.
a.
6. natural rate
b.
frictional rate
c.
cyclical rate
d.
structural rate
3 points
Question 11
1. 1) Which of the following factors will shift the short-run
aggregate supply curve but not the long-run aggregate supply
curve?
a.
an economy-wide decrease in wages.
b.
Improvements in technology
c.
A permanent decrease in oil production
d.
A decrease in capital
3 points
Question 12
1. 1) In the Keynesian model, equilibrium national income
a.
occurs at the point where the consumption function crosses the
7. 45 degree line.
b.
equals planned consumption, investment, government, and net
export expenditures.
c.
equals planned consumption, investment, government, and
import expenditures.
d.
occurs when the national propensity to consume equals the
multiplier.
3 points
Question 13
1. 1) If MPS is .25 and a nation’s autonomous spending
increases by $150,000, then real GDP should increase by how
much?
a.
$500,000
b.
$600,000
c.
$700,000
d.
$800,000
8. 3 points
Question 14
1. According to the identity DI=C+S, the relationship between
MPC and MPS indicates that the entire decrease in household
disposable income
a.
is distributed between consumption and saving.
b.
is invested and saved.
c.
is saved.
d.
is invested.
3 points
Question 15
1. Saving is the portion of
a.
investment that is spent on machinery.
b.
the stock of consumption.
c.
disposable income that is not consumed.
d.
disposable income that is consumed.
3 points
9. Question 16
1. There are several time lags involved when fiscal policy is
applied. The first hurdle faced by a government is
a.
the time it takes Congress to pass the bill to enact the policy.
b.
recognizing that the economy is facing a problem that could be
solved by applying fiscal policy.
c.
the time it takes for the policy to have an effect on the
economy.
d.
the time it takes Congress to decide upon the type of fiscal
policy to be used.
3 points
Question 17
1. 1) Fiscal policy refers to
a.
changes in the money supply.
b.
changes in the amount of physical capital in the economy.
c.
discretionary changes in government spending and taxes.
d.
10. changes in the interest rate.
3 points
Question 18
1. 1) You are a member of Congress. The economy is currently
experiencing a recessionary gap. Which of the following are
fiscal policies that Congress can enact in an attempt to correct
the economy?
a.
A decrease in the interest rate and increase in the money supply.
b.
An increase in government spending and a decrease in the tax
rate.
c.
An increase in the money supply and a decrease in the tax rate.
d.
A decrease in government spending and an increase in the tax
rate.
3 points
Question 19
1. 1) Since the 1940’s more often than not the U.S. federal
government has
a.
steadily reduced its borrowing.
b.
run a budget surplus.
c.
11. run a budget deficit.
d.
run a balanced budget.
3 points
Question 20
1. 1) Generally, a larger U.S. trade deficit is accompanied by a
a.
a larger U.S. federal budget deficit.
b.
a smaller U.S. federal budget deficit.
c.
a smaller U.S. national debt.
d.
decreased borrowing by the U.S. government.
3 points
Question 21
1. 1) Which of the following is a reason for the resurgent U.S.
budget deficit since 2001?
a.
Lower U.S. government spending but even lower tax receipts
b.
Larger tax receipts outweighed by even larger government
expenditures
12. c.
Higher interest rates
d.
Tax revenue not keeping pace with growth in spending
3 points
Question 22
1. 1) A natural consequence of the government continually
spending more than what it takes in through tax receipts, ceteris
paribus, is that
a.
consumption takes up a larger percentage of the economic
activity.
b.
investment takes up a larger percentage of the economic
activity.
c.
government spending takes up a larger percentage of the
economic activity.
d.
net exports take up a larger percentage of the economic
activity.
3 points
Question 23
1. 1) If 25 -33 year old's in nation X have an average MPC =
1.07, while 65-70 year old's in nation X have an MPC of .66,
then
13. a.
both sets of citizens are net savers.
b.
the younger citizens in nation X are dissavers, while the older
citizens in nation X are net savers.
c.
the younger citizens in nation X are net savers, while the older
citizens in nation X are dissavers.
d.
both sets of citizens are dissavers.
3 points
Question 24
1. 1) What is the difference between government budget deficit
and government debt?
a.
Budget deficits indicate a governments tendency to spend more
than the revenue that it brings in, while public debt is the
amount of borrowing private households have collectively
demonstrated.
b.
Budget deficits indicate a governments tendency to earn more
revenue that it spends, while public debt is the amount of
borrowing private households have collectively demonstrated.
c.
Budget deficits indicate a governments tendency to spend more
14. than the revenue that it brings in, while public debt is the
amount of borrowing the government takes on to support this
difference.
d.
Budget deficits indicate a governments tendency to spend the
exact amount of revenue that it brings in, while public debt is
the amount of borrowing the government takes on to support
this difference.
3 points
Question 25
1. The Fed's initiation of contractionary monetary policy is
intended to achieve which of the following?
a.
Decreasing price levels
b.
Lower interest rates
c.
Increased consumption spending
d.
both a. and b.
3 points
Question 26
1. 1) Please examine the following annual data:
Disposable Income Consumption Savings
$35,000 $36,500 -($1,500)
$48,000 $43,100 $4,900
$65,000 $58,000 $7,000
15. What is MPC for the household above when it earns higher
amounts of income?
a.
.55 and .88
b.
.51 and .88
c.
.41 and .80
d.
.61 and .91
5 points
Question 27
1. 1) Please examine the following annual data:
Disposable Income Consumption Savings
$35,000 $36,500 -($1,500)
$48,000 $43,100 $4,900
$65,000 $58,000 $7,000
If the above household earns below $35,000, they will probably
a.
net save.
b.
dis-save.
16. c.
break-even.
d.
urge government for more fiscal policy.
5 points
Question 28
1. In the long-run, Keynesian and Classical economists believe
a.
real GDP can be affected by a shift outward in the AD curve.
b.
real GDP is affected by a change in real wages.
c.
real GDP is unaffected by a change in the price level.
d.
real GDP is reflective of an employment level just below full
employment.
5 points
Question 29
1. Fiscal policy has _______ effect on the economy than
monetary policy.
a.
a smaller
17. b.
a bigger
c.
the same
d.
no effect
5 points
Question 30
1. Throughout the globe, nations with more efficient
governments tend to
a.
no change in per capita real GDP compared to nations with
inefficient governments.
b.
have higher per capita real GDP amongst its citizens.
c.
have lower per capita real GDP amongst its citizens.
d.
have stronger tendencies toward borrowing from the World
Bank.
CHE115 – Dr. Burnham, Fobare
4/5/14
18. Case Study #3
Nuclear Waste Management
Refer to the following articles in Science: 325, 151-2 (2009)
333, 148-9 (2011)
333, 150-2 (2011)
1. What are SNF and HLW? What are their sources?
2. Where is nuclear waste currently stored?
3. What was the purpose of Yucca Mountain? What is its current
status?
4. How does the decision on Yucca Mountain impact the future
storage of nuclear waste? What is the current recommendation
19. for the long-term storage of nuclear waste?
5. What were the issues that led to the decision not to open
Yucca Mountain? How could these issues be overcome when
considering a new permanent storage facility?
6. What are the pro’s and con’s of reprocessing SNF?
1
1
8 JULY 2011 VOL 333 SCIENCE www.sciencemag.org
148
21. /
A
P
AFTER KILLING THE PROJECT TO ESTABLISH A
nuclear waste repository at Yucca Mountain,
Nevada, last year, President Barack Obama
set up a commission to chart a new course
for U.S. nuclear waste policy. The group,
which is set to deliver its interim fi ndings
at the end of this month, is expected to say
that the answers to America’s nuclear waste
conundrum are technically feasible. The
problem, however, is that those solutions are
likely to be, in political terms, radioactive.
The Blue Ribbon Commission on Amer-
ica’s Nuclear Future confronts a challenge
that has stymied Washington for 40 years:
the nation’s relentless production of nuclear
waste. In recent decades, U.S. reactors have
created more than 2000 metric tons of highly
radioactive spent fuel each year. Codifi ed in
law in 1987, the Yucca plan meant the spent
fuel, held in bundles of 4-meter-long zirco-
nium alloy tubes, would be cooled for up to
a decade in storage pools at U.S. reactors.
Then it would be shipped to Yucca Moun-
tain, transferred into steel cylinders, and fur-
ther cooled by fans for 50 years. When the
facility contained 70,000 tons of waste, it
would be closed up.
22. In the past 24 years, the Department of
Energy (DOE) has built an 8-kilometer-long
tunnel at Yucca and has conducted experi-
ments to ensure that the reposi-
tory could hold the waste for up to
1 million years without releasing
dangerous amounts of radiation.
But although the government has
spent roughly $10 billion on the
project, lawsuits, red tape, and
political opposition have prevented DOE
from disposing of a single ton of commercial
fuel. About 65,000 tons of spent nuclear fuel
are piled up at U.S. reactors in cooling pools
and in steel-and-concrete casks stored out-
doors. Some experts believe the pools rep-
resent unacceptable safety or environmental
risks in the case of natural calam-
ity or terrorist attack. But moving
cooled-down fuel from U.S. pools
into casks, which are considered
safer, would cost utilities billions
of dollars.
To alleviate this pressure on
reactor sites and buy the govern-
ment time to establish a perma-
nent repository, the commission
will likely call for an impor-
tant new step: interim storage of
the fuel in one or several central
locations. After cooling in pools
for a decade, fuel would be trans-
ferred to such a facility to be stored
in outdoor steel-and-concrete
23. casks for “multiple decades up to
100 years or possibly more.” Over
that period, the commission envi-
sions, expanded federal research
into fuel recycling or other tech-
nologies might reduce the amount
of fuel requiring disposal. Meanwhile, fed-
eral offi cials would have a second chance to
establish a permanent U.S. geologic reposi-
tory—this time, perhaps, in a fashion less
acrimonious than the Yucca effort.
Buying time
“Consolidated interim storage preserves
options while other aspects of an integrated
waste management strategy can be devel-
oped,” says one of three commission sub-
committee reports released in June. Later
this month, an interim report from the full
commission is expected; given the hundreds
of hours of public testimony and published
documents cited in the lengthy subcommit-
tee reports, experts expect the fi nal version,
scheduled to be released in January 2012, to
offer substantially the same conclusions.
In addition to paving the political and
logistical route to disposal, cen-
tral, interim storage sites could
make the repository easier to
design and build. Building the
Yucca repository required a num-
ber of engineering tradeoffs,
explains physicist Charles Fors-
24. berg of the Massachusetts Institute of Tech-
nology (MIT) in Cambridge, and the site’s
“awkward” design was a stumbling block to
getting it licensed.
One reason was that Yucca Mountain had
to cool waste before permanently storing
it. Spent fuel straight from the reactor can
Online
sciencemag.org
Podcast interview
with author
Eli Kintisch.
Hot stuff. Spent fuel being lowered
into a storage cask at a commercial
nuclear reactor in Virginia.
NEWSFOCUS
Waste Panel Expected
To Back Interim Storage
A blue-ribbon commission signals that spent nuclear fuel should
cool
above ground while the United States fi gures out long-term
disposal
Published by AAAS
o
27. U T
C O
K S
O K
M O
A R
L A
M S A L G A
F L
T N
K Y
V A
M D
D E
W V
N C
S C
T X
H I
28. N M
A Z
A K
N E
I A
S D
N D
M N
W I
M I
I L
I N
O H
P A
N J
N Y
M E
M A
C T
29. V T
N H
R I
100
Spent fuel in
metric tons
1000
3000
5000
States with
<1 ton of
spent fuel
States with
no spent fuel
Spent nuclear fuel is piling up at
77 sites (small dots) in 35 states.
Where the Waste Is
M
A
P
S
O
33. E
A
R
C
H
I
N
S
T
IT
U
T
E
quickly reach 1500ºC, hot enough
to destroy the tubes that hold it.
Cooling for about a decade in stor-
age pools dissipates most of the
heat from the shortest-lived iso-
topes. But after being bundled
together and entombed in the
mountain for centuries, it might
still gradually create enough
34. heat to aid corrosion of the
tubes, create dangerous steam
within the tunnels, or even, over
time, alter the geology of the
site. First cooling the waste for
at least 5 decades at interim stor-
age sites could eliminate the need
for fans at a permanent reposi-
tory, says Forsberg, co-author of
several infl uential MIT reports on
nuclear waste. The interior of the
long-term repository—compared
with Yucca Mountain—would also
require less ventilation and less
access by remote devices to han-
dle the fuel after emplacement,
and it could be more easily sealed with an
appropriate fi ll.
35. In any case, experts agree, some new plan
for waste storage is essential. Waste currently
stored in pools and casks at U.S. sites does
not pose “unmanageable … safety or security
risks,” says a subcommittee report. But every
ton that stays at reactor sites makes those
risks slightly greater. Fuel in U.S. spent fuel
pools is packed four times as densely as it was
25 years ago, raising concerns about the risk
of explosions or meltdown if the pools were
to empty in an accident. The tsunami that dev-
astated the Fukushima nuclear plant in Japan
in March may have resulted in a loss of water
in one of its ponds (Science, 1 April, p. 24).
A draft commission report says the issue of
the safety of keeping fuel densely packed in
pools should be “reexamined,” although “it is
still too early to draw defi nitive conclusions”
36. from the Fukushima accident. It calls for an
expert panel at the National Academies to
tackle the subject.
If an interim storage site could
get licensed—a big if, given polit-
ical sensibilities—it might save
money for utilities and the govern-
ment, which is currently paying
hundreds of millions of dollars in
legal claims to utilities for the waste.
Nine decommissioned reactor sites
in the United States currently house
nuclear fuel in aboveground casks.
Centralized storage could save utili-
ties billions in security costs and by
freeing the land for other uses.
As for long-term disposal, commis-
sioners say the government should “expe-
37. ditiously” move to set up a geologic
repository—they were told not to specify
where. “There is no ethical basis for abroga-
tion of responsibility” for securing nuclear
waste “to future generations,” a subcom-
mittee report says. To avoid repeating the
Yucca Mountain experience, which was
plagued by opposition from the state of
Nevada (see p. 150), the process of choos-
ing a site should include “consultation,
transparency, accountability, and scientifi c
and technical credibility,” a draft report
says. Commissioners are also likely to call
for the project to be managed by a new,
independent entity.
The commission is also likely to recom-
mend expanding research into technolo-
gies such as reprocessing, in which nuclear
38. waste is converted back into nuclear fuel,
and into advanced or more effi cient reac-
tors that might produce less waste. Nuclear
power will never be completely clean, how-
ever. “No currently available or reasonably
foreseeable reactor and fuel-cycle technolo-
gies … have the potential to fundamentally
alter the waste management challenge,” the
research subcommittee draft says.
The road ahead
Forecasting what the Blue Ribbon Com-
mission will recommend is one thing; pre-
dicting what the Obama Administration and
its successors will actually do with them is
much harder. Several environmental and
antinuclear groups have already spoken out
against creating new storage sites for waste,
and a commission subcommittee admits
39. in a report that it’s a “contentious issue.”
Commissioners hope the track record of the
57 licensed fuel storage facilities—most at
U.S. reactor sites—will alleviate some fears,
and that an open site-selection process cou-
pled with “incentives” like training and jobs
for local communities and utilities will ulti-
mately carry the day.
But even simply getting money for more
federal research into nuclear power could be a
challenge. As the budget process in Washing-
ton grows ever more contentious, lobbyists
and activists alike are increasingly skeptical
that substantial increases can happen soon. “I
don’t think the budgets are going to expand
beyond what they are now,” says physicist
Thomas Cochran of the Natural Resources
Defense Council in Washington, D.C.
40. –ELI KINTISCH
Fuel Stored
in Dry Casks
Fuel Stored in
Cooling Pools
2010
20,000
40,000
60,000
80,000
100,000
M
e
tr
ic
t
o
n
s
o
f
u
41. ra
n
iu
m
120,000
140,000
2015 2020 2025 2030 2035 2040 2045 2050 2055 2060
Plain spent. Assuming no new plants, used fuel stores will
more than double by 2050.
NUCLEAR WASTE NEWSFOCUS
Published by AAAS
o
n
O
ct
o
b
e
r
4
,
2
0
44. E
N
E
R
G
Y
The Obama Administration’s shutdown of
the quarter-century-long, $15 billion effort
to dispose of 65,000 tons of U.S. spent
nuclear reactor fuel in Nevada’s Yucca
Mountain could be the latest of many les-
sons learned around the world. Unforeseen
technical problems have abounded there and
at proposed disposal sites around the world,
but no certain deal breakers have turned up.
Yet, despite the absence of insurmount-
able geologic or engineering obstacles,
no permanent repository for spent reactor
fuel has been built anywhere. Every coun-
try looking for a place to dispose of its
wastes has stumbled in its early tries to site
repositories. Almost invariably, a govern-
ment decides which site would be suitable,
it announces its decision, an uproar ensues
from the locals, the government defends
its chosen site, but eventually it is forced to
abandon its choice as untenable.
In the wake of the 2010 abandonment of
the Yucca Mountain program, the U.S. advi-
45. sory Nuclear Waste Technical Review Board
(NWTRB) puts the United States among
those nations whose waste-disposal pro-
grams “either have lost public trust and con-
fi dence or seem never to have merited it at
all,” as the board stated in an April report to
Congress. (Yet, ironically, the United States
is the only country in the world to open and
operate a nuclear waste repository: a facility
for storing waste from the nuclear weapons
program that doesn’t include spent fuel.)
So as the Administration’s Blue Ribbon
Commission on America’s Nuclear Future
prepares to deliver its draft report (see
p. 148), many authoritative groups have
been driving home the lessons learned from
Yucca Mountain and around the world.
NWTRB put it most succinctly: “The
interdependencies, both subtle and overt,
between the technical, social, and political
forces are inescapable.”
Uniformly dismal failure
In the 1950s, when coun-
tries f irst started ponder-
ing how to dispose of
spent nuclear fuel from
power plants and radio-
active waste from nuclear
weapons production, the
solution seemed straight-
forward enough. Nuclear
waste contains isotopes of
elements that will remain
radioactive for thousands
46. t o m a ny h u n d r e d s o f
thousands of years. Rock
formations hundreds of
meters beneath the sur-
face have been there, lit-
tle disturbed, for millions
if not billions of years.
So put the wastes in tun-
nels in the rock, seal the
tunnels, and the problem
would be solved. Layers of
deeply buried salt were an early favorite; if
there’s salt still there after millions of years,
water—which can corrode stored waste and
carry it back into the environment—won’t
be a factor. But whatever medium was at
hand—salt, granite, clay, or volcanic ash
turned to stone called tuff—looked promis-
ing to the government’s experts charged with
fi nding a suitable site.
Despite the promising geology, the top-
down approach just didn’t pan out. Whether
it was salt in Germany or old bedrock in the
United Kingdom, Canada, or Scandinavia,
“almost all countries that have tried to site
repositories have had one or more failures,”
notes a June draft report, Spent Fuel From
Nuclear Power Reactors, from the Inter-
national Panel on Fissile Materials (IPFM),
an independent group of nuclear experts.
In the United States, 4 decades of govern-
ment efforts were marked “by heavy hand-
edness on the part of the federal government
47. and political uprisings in a succession of
states where it proposed to site repositories,”
notes the IPFM report. An early setback
came near Lyons, Kansas, where in 1970
the Atomic Energy Commission (AEC)—
the forerunner of today’s Department of
Energy (DOE)—decided to entomb highly
radioactive wastes from nuclear weapons
production in an abandoned salt mine. In
1957, a U.S. National Academies report had
Light at the End of the Radwaste
Disposal Tunnel Could Be Real
A long run of failures could fi nally drive the United States to
follow other countries’
lead and accept radioactive waste disposal as the
sociotechnological problem that it is
R A D I O A C T I V E W A S T E D I S P O S A L
Yucca Mountain. The now-
abandoned repository site’s
rock is perhaps the planet’s
most thoroughly studied.
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recommended layered salt formations for
such wastes because, over time, salt would
fl ow to seal in the wastes.
But the head of the Kansas Geological
Survey urged more study of the integrity of
the proposed Lyons repository. AEC agreed
but continued its preparatory work anyway.
Fearing a fait accompli, the IPFM report
says, Kansans and their politicians rose to
54. oppose the plan. Technical revelations then
lit the fuse on a by-now-politically-unstable
situation. It turned out that the site had long
ago been peppered with oil and gas wells
with no assurance they had all been securely
plugged. And several years earlier, a min-
ing company pumping water into the for-
mation nearby to dissolve and extract salt
had 640 cubic meters of water go missing,
suggesting that the salt geology was more
complex and less well understood than the
academies had assumed. AEC abandoned
the site in 1971.
Yucca Mountain’s cycle from decision
to abandonment was far more protracted.
Acting under the 1982 Nuclear Waste
Policy Act, DOE had selected three can-
didate sites: salt in Texas, basalt in Wash-
55. ington state, and volcanic tuff at Nevada’s
Yucca Mountain.
Technically, Yucca Mountain looked
promising. The spent fuel would be well
above the water table and therefore exposed
to the vanishingly small amount of water
seeping from the desert above. The decisive
factor, however, was political. At the time, the
Democratic Party controlled both houses of
the U.S. Congress, and the powerful speaker
of the House represented Texas while the
House majority leader represented Washing-
ton state. Nevada’s delegation, however, was
split between Democrats and Republicans
and was new to Congress. In 1987, Congress
struck the Texas and Washington sites from
the list, leaving Yucca Mountain the only
candidate in the running. Nevadans still call
56. the act the “screw Nevada bill.”
If Yucca Mountain had proved to be the
perfect repository site, it might not have
been abandoned, but investigations soon
started to tarnish its luster. That’s normal
for site evaluations; as geophysicist Wendell
Weart told Science in 1999, “You never feel
quite as comfortable about a site as the day
you start to study it.”
Yucca Mountain’s unwelcome surprises
included the possibility of earthquakes and
volcanic eruptions (Science, 8 November
1996, p. 913) and fears, later allayed, that the
repository itself might explode like
a nuclear bomb (Science, 30 June
1995, p. 1836). But the overarching
concern has been the discovery that
water seeps down through the moun-
57. tain many times faster than had been
thought. So, in the mountain’s oxygen-
rich interior, water laden with salt dis-
solved from the rock would drip onto
spent-fuel assemblies still hot from
their lingering radioactivity. That’s a
great recipe for corrosion. The seep-
ing brine would release radionuclides
from the spent fuel and carry them on
through the rock as far as the water
is going.
To make matters worse, the plan-
ning horizon for Yucca Mountain got
extended by a factor of 100. An acad-
emies study committee requested by
Congress concluded that the risk
of human exposure to radioactivity
should be estimated out to the time
58. of maximum exposure, when con-
tainment has failed and wastes have
spread. That upped the time scientists had to
predict the behavior of the repository and its
wastes from 10,000 years to 1 million years.
In response to such surprises, DOE hun-
kered down. “DOE lacked transparency in
developing its plans for the Yucca Mountain
repository,” an April report, Commercial
Nuclear Waste, from the U.S. Government
Accountability Off ice (GAO) concluded.
For example, instead of polling the broad
community for ideas, DOE designed tita-
nium drip shields on its own to protect the
waste. DOE did not “establish independent
scientifi c panels or any form of state over-
sight that might have given affected parties
more confi dence in the solutions,” the report
59. says; nor did it “promote state involvement
in key decisions and oversight.”
Could more transparency and coopera-
tion have saved the day? Mineralogist Rod-
ney Ewing of the University of Michigan,
Ann Arbor, a longtime critic of the Yucca
Mountain program, thinks so. “I really think
if there’s a strong scientifi c basis combined
with public empowerment, you can make
progress,” he says.
A more successful path
As an example of how to do things right,
Ewing and other critics often cite another
The Swedish way.
The KBS design:
copper-clad wastes (yellow)
encased in clay (pink) beneath
500 meters of granite.
Nuclear Waste Repositories —Past and Future?
WIPP Carlsbad, NM
Operating
60. Salt
Operating
Yucca Mountain, NV
Abandoned 2010
Mostly dry volcanic
tuff, oxidizing
$15 billion spent;
well studied
Hanford, WA
Dropped
Wet basalt reducing
TBD
Status:
Geologic medium:
Advantages:
Deaf Smith County, TX
Dropped
Salt
TBD
61. NUCLEAR WASTE NEWSFOCUS
Forsmark, Sweden
Selected
Wet basalt reducing
Local support
engineered barriers
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65. Mexico (Science, 12 March 1999, p. 1626).
“It wasn’t an easy sell,” Ewing says. “There
were substantial objections to WIPP. But
there was a process of public and scientifi c
engagement, so at the end you could say, this
makes sense. It worked, but it took time”—
30 years of time.
WIPP did start with several advantages
over Yucca Mountain. First, the people of
Carlsbad wanted it. When community lead-
ers heard about the abandonment of the
Lyons site, they offered their own layered
salt as a replacement. They had just lost a
major employer, a potash mining company,
and were looking for an economic boost.
And they were already familiar with the
risks of mining, not to mention those from
nearby nuclear testing. Their interest would
never waiver.
The state of New Mexico, having con-
stituencies other than Carlsbad to consider
and a long and sometimes strained history of
state-federal relations, was not so receptive.
Nongovernmental organizations (NGOs),
including environmental groups, objected
to the Carlsbad site as well. But unlike the
way Yucca Mountain turned out, a fl urry of
lawsuits brought by the state and NGOs led
to concessions from DOE and constructive
interventions by Congress. A quasi-inde-
pendent Environmental Evaluation Group
with both state and federal funding provided
credible scientifi c information to the state
66. and the public when inevitable technical
issues arose. And a signed agreement made
the state “equal partners with DOE in the
development of WIPP,” says Mark Gaffi gan,
lead author of the GAO report.
Congressional legislation helped, too.
It limited WIPP to defense-related waste
such as rags, protective clothes, and tools
contaminated with toxic, long-lived radio-
nuclides including plutonium. The absence
of high-level wastes such as thermally hot
spent fuel eased relations between DOE
and the state and simplifi ed the repository
design. Legislation also gave oversight of
the repository to the U.S. Environmental
Protection Agency, which was able to retain
the 10,000-year standard for maintaining
repository integrity without going to a mil-
lion-year standard. And legislation provided
New Mexico with $280 million in compen-
sation over 14 years. WIPP received its fi rst
wastes in 1999; today, 9000 shipments of
wastes totaling 71,000 cubic meters have
been stored there.
No one else has managed to open a
repository for anything but low-level wastes,
but two countries—Sweden and Finland—
have gotten as far as selecting sites, although
they have not yet given them fi nal approval.
As laid out in an IPFM report chapter by
physicist Johan Swahn of the NGO Offi ce
for Nuclear Waste Review (MKG), Sweden
67. started with some advantages. For one, Swe-
den began its site search with a relatively
robust repository design in hand. Unlike the
approach at Yucca Mountain, the Swedish
KBS method developed by SKB, the nuclear
waste company responsible for ultimate dis-
posal, does not depend solely on geology for
containment. Spent fuel would be encased
in 5 centimeters of copper surrounded by
extremely low-permeability clay.
Sweden was also able to make changes in
midstream. After provoking public outcries
with uninvited exploratory drilling for a site,
SKB backtracked and asked communities to
volunteer as repository sites with the right to
back out at any point. As in the case of WIPP,
volunteers were looking for economic ben-
efi ts. And they also were familiar with things
nuclear; each of the two f inalists already
had a nuclear plant and one had a low-level
waste site, the other a centralized facility for
temporary spent-fuel storage. The Swedish
government instituted a relatively open and
consultative site-approval process, going so
far as to fund NGOs such as MKG to moni-
tor the process. And, in contrast to Yucca
Mountain, that process sets a more practi-
cal standard to shoot for. It does not depend
solely on quantitative calculations of the risk
of repository failure out to a million years.
Beyond a few hundreds of thousands of
years, more qualitative arguments for repos-
itory safety can be made.
68. A U.S. way ahead?
After seeing these and other reports, hearing
testimony, and making site visits, the Obama
Administration’s Blue Ribbon Commission
looks set to recommend later this month a
consent-based, transparent, and flexible
approach to nuclear waste disposal. How-
ever, even strictly applying lessons learned
from Sweden and WIPP won’t guarantee
smooth sailing. For one thing, the technical
challenges of storing nuclear waste safely
for many millennia have not gone away.
In Sweden, for example, after 30 years of
development, the KBS disposal system has
developed what could be a major problem.
Laboratory studies have lately raised the
possibility that the copper cladding meant to
shield the waste from groundwater may be
much more prone to corrosion than anyone
had suspected. The site-approval process,
now under way, will consider just how sig-
nifi cant a problem that is.
On the social side, the United States is
not Sweden, Swahn points out. “Your polit-
ical system has more diff iculties than we
have dealing with these sorts of issues,”
he says. “Trust is important in this country,
and people trust the system. That is very,
very different.”
–RICHARD A. KERR
Awaiting disposal. These casks contain the spent fuel from the
production of 110 billion kilowatt-hours
69. of electricity during 28 years by the Connecticut Yankee
nuclear power plant.
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71. nuclear fuel (SNF) and high-level nuclear
waste (HLW) ( 1) brings to a close a 30-year
effort to develop and implement a policy for
nuclear wastes in the United States. Selection
by Congress in 1987 of Yucca Mountain in
Nevada as the only site to be investigated con-
demned the United States to pursue a policy
that had no backup if Yucca Mountain failed
politically or technically.
Abandoning Yucca Mountain will mean
that another destination must be found for
SNF and the solidifi ed HLW from three U.S.
Department of Energy (DOE) sites that had
military reprocessing plants and from a pre-
1973 commercial reprocessing plant. The
country will be left with some combination of
three basic options: (i) indefi nitely store in 35
states and 75 reactor sites, 10 of which have
been decommissioned ( 2– 4); (ii) consolidate
from at least the decommissioned sites at one
or more central storage sites; and (iii) restart
the process of locating and developing one or
more geologic repositories.
Advocates of SNF reprocessing have been
energized by the Yucca Mountain decision, but
reprocessing would not obviate the need for a
geological repository. It only has the political
advantage of providing an interim destination
for the SNF. A thorough assessment of vari-
ous proposals to simplify the U.S. radioactive
waste problem by separating out long-lived
transuranic elements and fi ssion products and
fi ssioning and transmuting them, respectively,
72. found that the efforts would be extremely
costly and benefits would be marginal ( 5).
Also, the U.S. example would provide civilian
cover for other nations interested in acquiring
separated plutonium for weapons—which is
exactly why the United States reconsidered
its pro-reprocessing policy after India’s 1974
nuclear test, which used plutonium that had
been separated for civilian purposes with U.S.
assistance ( 6). France and Japan maintain their
commitment to reprocessing, but the United
Kingdom is quitting, and a dozen countries
that were sending their SNF to France, Rus-
sia, and the United Kingdom for reprocessing
have not renewed their contracts ( 7).
The U.S. Nuclear Regulatory Commission
(NRC) is considering extending on-site stor-
age, as a stopgap measure, on the basis of a
decision that SNF can be safely stored in dry
casks at reactor sites for up to 60 years after
reactor operating licenses expire ( 8). This
reflects the reality that storing old SNF in
dry casks is a safe short-term option. Few are
comfortable, however, with the idea of indefi -
nite storage of SNF and HLW on the surface
at about 80 locations.
What Went Wrong?
A geologically complex site. Although there
is great attraction to isolating nuclear waste
in the arid and remote region of Yucca Moun-
tain, there are unresolved scientifi c and tech-
nical issues. The UO
73. 2
in SNF is not stable
under the oxidizing conditions in Yucca
Mountain and would convert rather rapidly
to more soluble higher oxides. Substantial
amounts of water exist in the pores and frac-
tures of the volcanic tuff. The geologic com-
plexity of the Yucca Mountain site, including
seismicity and relatively recent volcanism,
and the proposed reliance on engineered bar-
riers, notably titanium drip shields to protect
the casks from water, make the safety analy-
sis complicated and less than convincing ( 9).
In contrast, two countries that are cur-
rently developing underground SNF reposito-
ries, Sweden ( 10) and Finland ( 11), have cho-
sen stable granitic host rock permeated with
oxygen-depleted water. Their strategy uses
copper canisters surrounded by protective
bentonite clay, and the estimated failure rate
of the canisters is extremely low. France, Bel-
gium, and Switzerland are actively investigat-
ing potential repositories in clay. The great age
and stability of the granite and clay host rocks
increase confi dence in long-term predictions
of repository performance.
Changing performance standard. There
was no U.S. Environmental Protection Agency
(EPA) performance standard throughout most
of the design process for the Yucca Mountain
repository. In September 2008, the belatedly
74. issued new standard extended the proposed
regulatory period to 1,000,000 years, a signifi -
cant change from the earlier proposal of only
10,000 years.
Looking forward, there are two important
issues related to the standard. First, the pres-
ent standard is site-specifi c, rather than a gen-
eral requirement of performance and safety.
Second, the compliance period is based on
Nuclear Waste Management in the
United States—Starting Over
ENERGY
Rodney C. Ewing1 and Frank N. von Hippel 2
The debate has begun again over the
disposition of nuclear fuel and waste.
Operating power reactors
Shut-down power reactors
DOE sites
Sites with SNF and/or HLW
Sources: (2, 4); see also (16).
Region IV Region III Region I
Region II
76. U
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1Department of Geological Sciences, University of Michi-
gan, Ann Arbor, MI 48109–1005, USA. E-mail:
[email protected]
umich.edu 2Program on Science and Global Security, Princ-
eton University, Princeton, NJ 08542–4601, USA. E-mail:
[email protected]
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10 JULY 2009 VOL 325 SCIENCE www.sciencemag.org
152
POLICYFORUM
a recommendation from a committee of the
U.S. National Academy of Sciences’ National
Research Council that it should extend to the
time when peak potential risks may occur,
generally hundreds of thousands of years
hence ( 12). The uncertainties in projecting
performance over hundreds of thousands of
years are real and cannot be avoided. The use
of “quantitative” performance assessment for
licensing placed an enormous burden on the
demonstration of compliance over such long
periods. Yet, Congress’s selection of Yucca
Mountain prevented the DOE from pursuing
strategies that might have reduced the impor-
tance of “unknowables,” such as locating the
repository where volcanism and seismicity
are not major factors.
Unreliable funding source. The original
Nuclear Waste Policy Act of 1982 provided
funding for development of a repository by
creating the Nuclear Waste Fund from a tax on
electricity generated by nuclear power. How-
ever, expenditures for repository development
were subject to annual congressional appropri-
79. ations. Indeed, it is that appropriation process
that is being used to put the Yucca Mountain
repository on hold.
Management failures. Development of the
licensing basis for a site as complex as Yucca
Mountain is inherently diffi cult, but the DOE,
with its limited expertise, continual turnover of
personnel, changing design requirements, and
poor oversight of contractors, allowed the proj-
ect to grow to a size that was both unnecessary
and unmanageable. The department already has
spent $13.5 billion in 2007 dollars on research-
ing the site and projects a fi nal cost of $76 bil-
lion (not including $20 billion for transporta-
tion) for 122,100 tons of SNF ( 13).
Attempt to override local opposition. The
decision to proceed with the Yucca Mountain
project in the face of strong public and polit-
ical opposition in Nevada was a mistake. For
projects that will take decades to complete, sus-
tained local opposition has every chance of pre-
vailing. The successful siting efforts in Scandi-
navia have involved local communities in the
decision-making process and given them a veto
at each stage ( 14). Also, the communities that
have fi nally volunteered to host repositories
already have nuclear power plants, are com-
fortable with nuclear technology, and have an
interest in helping to fi nd a path forward from
surface storage to underground disposal.
What Should a New Policy Include?
Regional solutions. The DOE should be relieved
of the responsibility for management and dis-
80. position of used nuclear fuel from commercial
nuclear power plants. The states that have the
SNF should be provided with the means and
motivation for developing acceptable interim
storage sites or geologic repositories. The NRC
has organized the distribution of nuclear power
plants into four regions: northeast, southeast,
midwest, and west (see fi gure, page 151) (16).
This could also be an appropriate way to divide
up the country for locating interim storage
facilities or regional repositories. These regions
would provide a variety of possible geological
media for a repository, including granite, shale,
salt, and volcanic tuff.
States within a given region should have
primary responsibility for developing solutions
unique to their own situations. In some cases,
extended on-site or centralized interim storage
may be acceptable. Other states or regions may
move forward without delay to site and develop
a geologic repository. Transportation problems
would be greatly reduced because the distances
to regional repositories are much shorter than
the distance between reactors east of the Mis-
sissippi and Nevada. Funding would be pro-
vided from the Nuclear Waste Fund (with a cur-
rent balance of over $20 billion) ( 16) to organi-
zations established by the states or regions or
their nuclear utilities for the development of an
interim storage facility and/or a geologic repos-
itory. Continued funding would come from the
10th-of-a-cent tax on each kilowatt-hour of
electricity generated by nuclear power plants in
each region. This regional approach for the 104
81. U.S. reactors would not be too different from
the current approach in Europe, where SNF
and HLW from ~150 reactors and reprocessing
plants is to be moved to a number of national
geologic repositories in a variety of rock types.
The DOE would remain responsible for man-
agement and disposal of low-level, transuranic,
and HLW waste generated by nuclear weapons
and naval reactor programs.
Local acceptance. In addition to requiring
compliance with federal standards and regu-
lations, the local community and state should
make the fi nal siting decision. Local commu-
nities at potential storage and repository sites
should have early and continued involvement
in the process, including funding that would
allow them to retain technical experts.
EPA regulation. It may be appropriate to
leave to the EPA regulation of the environ-
mental impact of the “back end” of the fuel
cycle for commercial nuclear power plants.
The Waste Isolation Pilot Plan in New Mexico
is a successfully operating geologic reposi-
tory for transuranic waste regulated by the
EPA. The EPA should establish a generic, i.e.,
not site-specifi c, performance standard for the
containment of long-lived radioisotopes in
geological repositories.
Each of these proposals will experience stiff
opposition. The main goal, however, should
be to provide the United States with multiple
alternatives and substantial public involve-
82. ment in an open siting and design process that
requires acceptance by host communities and
states. International experience suggests that
investigation of multiple sites is affordable. In
the meantime, dry-cask on-site SNF storage is
a relatively safe interim strategy that will give
the United States the time required to develop a
permanent, long-term solution.
References and Notes
1. The energy section of the Obama Administration’s outline
of the priorities of its fi scal year 2010 budget concludes,
“The Yucca Mountain program will be scaled back to those
costs necessary to answer inquiries from the Nuclear
Regulatory Commission, while the Administration devises
a new strategy toward nuclear waste disposal” ( 17).
2. Operating reactors from NRC, www.nrc.gov/info-fi nder/
reactor/#USMap.
3. Decommissioned reactors with SNF on site from ( 4).
4. National Research Council, Going the Distance? The Safe
Transport of Spent Nuclear Fuel and High-Level Radioac-
tive Waste in the United States (National Academies Press,
Washington, DC, 2006), table 5.2.
5. National Research Council, Nuclear Wastes, Technologies
for Separations and Transmutation (National Academy
Press, Washington, DC, 1996).
6. G. Perkovich, India’s Nuclear Bomb (Univ. of California
Press, Berkeley, CA, 1999), pp. 28 and 30.
7. F. N. von Hippel, The Costs and Benefi ts of Reprocessing:
83. Why Reprocessing Persists in Some Countries and Not in
Others (Nonproliferation Education Center, Washington,
DC, 2009).
8. NRC, Waste confi dence decision update. Fed. Regist. 73,
59551 (2008).
9. A. M. Macfarlane, R. C. Ewing, Eds., Uncertainty Under-
ground—Yucca Mountain and the Nation’s High-Level
Nuclear Waste (MIT Press, Cambridge, MA, 2006), 431 pp.
10. Forsmark, Sweden, SNF disposal site, www.world-
nuclear-news.org/WR_Forsmark_for_Swedish_nuclear_
waste_0306091.html.
11. Olkiluoto, Finland, repository (4 June 2009); www.world-
nuclear-news.org/WR-Approval_for_expanded_Olkiluoto_
repository-0406098.html.
12. National Research Council, Technical Bases for Yucca
Mountain Standards (National Academy Press, Washing-
ton, DC, 1995), 205 pp.
13. DOE, Analysis of the Total System Life Cycle Cost of the
Civilian Radioactive Waste Management Program, Fiscal
Year 2007 (DOE/RW-0591, DOE, Washington, DC, 2008).
14. Organization for Economic Cooperation and Develop-
ment, Public Information, Consultation, and Involvement
in Radioactive Waste Management (OECD Nuclear Energy
Agency, Paris, 2003).
15. In addition to sites shown in the fi gure, SNF is stored at
the never-operated GE Morris, IL, reprocessing plant; an
additional DOE site with HLW is the decommissioned com-
mercial reprocessing plant, West Valley, NY. There is no
84. SNF or HLW in Alaska, Hawaii, Puerto Rico, or the Virgin
Islands.
16. The U.S. Department of the Treasury does not report the
balance. The National Association of Regulatory Utility
Commissioners (NARUC), in a resolution adopted on 18
February 2009, claims a balance of $22 billion ( 18).
17. Offi ce of Management and Budget, in A New Era of
Responsibilities: Renewing America’s Promise (Govern-
ment Printing Offi ce, Washington, DC, 2009), pp. 63–65;
www.whitehouse.gov/omb/assets/fy2010_new_era/
Department_of_Energy.pdf.
18. NARUC, Resolution in Support of Ensuring the Federal
Government Fulfi lls Its Obligation to Remove Spent
Nuclear Fuel from Present Reactor Storage Sites;
www.naruc.org/Resolutions.cfm.
10.1126/science.1174594
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