Question 12ptsA decrease in the price level will lead to.docx
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Question 1 2 pts A decrease in the price level will lead to A decrease in the price level will lead to Flag this Question Question 2 2 pts A monopolistically competitive market differs from a perfectly competitive market in that a monopolistically competitive market has A monopolistically competitive market differs from a perfectly competitive market in that a monopolistically competitive market has Flag this Question Question 3 2 pts Which of the following would shift the aggregate demand curve to the left? Which of the following would shift the aggregate demand curve to the left? Flag this Question Question 4 2 pts Which of the following would NOT shift the aggregate demand curve to the left? Which of the following would NOT shift the aggregate demand curve to the left? Flag this Question Question 5 2 pts In the mid 1990s, monthly inflation in Yugoslavia peaked at In the mid 1990s, monthly inflation in Yugoslavia peaked at Flag this Question Question 6 2 pts An important difference between Keynes's approach to the demand for money and Friedman's approach is that An important difference between Keynes's approach to the demand for money and Friedman's approach is that Flag this Question Question 7 2 pts Keynes assumed that the expected return on bonds is determined by Keynes assumed that the expected return on bonds is determined by Flag this Question Question 8 2 pts Inflation that is higher than expected redistributes wealth from Inflation that is higher than expected redistributes wealth from Flag this Question Question 9 2 pts According to the real business cycle model, changes in the money supply will affect economic activity According to the real business cycle model, changes in the money supply will affect economic activity Flag this Question Question 10 2 pts In the new Keynesian view, which of the following expressions correctly states the relationship between the price that an individual firm with sticky prices charges and the aggregate price level? In the new Keynesian view, which of the following expressions correctly states the relationship between the price that an individual firm with sticky prices charges and the aggregate price level? Flag this Question Question 11 2 pts According to new Keynesians, which of the following is NOT an important source of price stickiness? According to new Keynesians, which of the following is NOT an important source of price stickiness? Flag this Question Question 12 2 pts Government budget deficits can be inflationary in the long run only if they Government budget deficits can be inflationary in the long run only if they Flag this Question Question 13 2 pts Economists who back the use of rules by the Fed believe that they would result in Economists who back the use of rules by the Fed believe that they would result in Flag this Question Question 14 2 pts The reason that the U.S. economy has experienced long-term inflation since World War II is The reason.
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Question 12 ptsThe best explanation of why the aggregate deman.docx
Question 1
2
pts
The best explanation of why the aggregate demand curve has a negative slope is that
The best explanation of why the aggregate demand curve has a negative slope is that
Flag this Question
Question 2
2
pts
Transactions velocity
Transactions velocity
Flag this Question
Question 3
2
pts
In the new classical view, if the Chairman of the Fed announces a 10% increase in the money supply and then takes actions that cause the money supply to grow by more than 10%, the result will be
In the new classical view, if the Chairman of the Fed announces a 10% increase in the money supply and then takes actions that cause the money supply to grow by more than 10%, the result will be
Flag this Question
Question 4
2
pts
According to the new classical view, when the actual price level is greater than the expected price level
According to the new classical view, when the actual price level is greater than the expected price level
Flag this Question
Question 5
2
pts
Business cycles
Business cycles
Flag this Question
Question 6
2
pts
In the new Keynesian view, the larger the proportion of firms in the economy with sticky prices,
In the new Keynesian view, the larger the proportion of firms in the economy with sticky prices,
Flag this Question
Question 7
2
pts
In the new Keynesian expression for the price level, c represents
In the new Keynesian expression for the price level,
c
represents
Flag this Question
Question 8
2
pts
The book in which Milton Friedman and Anna Schwartz reported on their study of the relation between money and the business cycle is
The book in which Milton Friedman and Anna Schwartz reported on their study of the relation between money and the business cycle is
Flag this Question
Question 9
2
pts
In the new Keynesian approach, an increase in the nominal money supply
In the new Keynesian approach, an increase in the nominal money supply
Flag this Question
Question 10
2
pts
In the new Keynesian approach, an increase in the nominal money supply affects output by
In the new Keynesian approach, an increase in the nominal money supply affects output by
Flag this Question
Question 11
2
pts
During the years from 1964 to 1969, inflation increased in the United States
During the years from 1964 to 1969, inflation increased in the United States
Flag this Question
Question 12
2
pts
The expression for velocity derived from Keynes's liquidity preference theory is
The expression for velocity derived from Keynes's liquidity preference theory is
Flag this Question
Question 13
2
pts
Which of the following expressions is correct?
Which of the following expressions is correct?
Flag this Question
Question 14
2
pts
Holding everything else constant, the increased use of credit cards in recent years probably
Holding everything else constant, the increased use of credit cards in recent years probably
Flag this Question
Question 15
2
pts
The simultaneous equilibrium of the money, n.
Question 12 ptsPeoples decision to hold money based on the co.docx
Question 1
2
pts
People's decision to hold money based on the comparison of the relative returns of money and nonmoney assets is known as
People's decision to hold money based on the comparison of the relative returns of money and nonmoney assets is known as
Flag this Question
Question 2
2
pts
According to Friedman, the opportunity cost of holding money depends on all of the following EXCEPT
According to Friedman, the opportunity cost of holding money depends on all of the following EXCEPT
Flag this Question
Question 3
2
pts
If in the short run prices did not respond at all to changes in aggregate demand, the short-run aggregate supply curve would
If in the short run prices did not respond at all to changes in aggregate demand, the short-run aggregate supply curve would
Flag this Question
Question 4
2
pts
Sustained growth in the money supply doesn't affect real output in the long run but does lead to inflation according to
Sustained growth in the money supply doesn't affect real output in the long run but does lead to inflation according to
Flag this Question
Question 5
2
pts
Which of the following is a likely causative factor in the movement of M1 velocity during the 1980s?
Which of the following is a likely causative factor in the movement of
M1
velocity during the 1980s?
Flag this Question
Question 6
2
pts
Business cycles typically last
Business cycles typically last
Flag this Question
Question 7
2
pts
Cost-push inflation
Cost-push inflation
Flag this Question
Question 8
2
pts
According to the new classical approach to the aggregate supply curve, the aggregate supply curve slopes upward because
According to the new classical approach to the aggregate supply curve, the aggregate supply curve slopes upward because
Flag this Question
Question 9
2
pts
Inflation generates an excess burden whenever
Inflation generates an excess burden whenever
Flag this Question
Question 10
2
pts
Periods of contraction in the business cycle are known as
Periods of contraction in the business cycle are known as
Flag this Question
Question 11
2
pts
Most economists believe that changes in the price level have
Most economists believe that changes in the price level have
Flag this Question
Question 12
2
pts
Which of the following schools of thought among economists believe that activist stabilization policy is ever desirable?
Which of the following schools of thought among economists believe that activist stabilization policy is ever desirable?
Flag this Question
Question 13
2
pts
Stabilization policy refers to attempts to
Stabilization policy refers to attempts to
Flag this Question
Question 14
2
pts
In the new Keynesian approach, an increase in the nominal money supply
In the new Keynesian approach, an increase in the nominal money supply
Flag this Question
Question 15
2
pts
Whom did President Jimmy Carter appoint chair of the Board of Governors of the Fed in order to convince the public about.
Question 12 2 ptsMenu costs of inflation are costs arising.docx
Question 1
2
/ 2
pts
Menu costs of inflation are costs arising from
Menu costs of inflation are costs arising from
Correct!
Question 2
2
/ 2
pts
Expansionary shifts of the aggregate demand curve
Expansionary shifts of the aggregate demand curve
Correct!
Question 3
2
/ 2
pts
Despite its costs, governments typically resist eliminating inflation because
Despite its costs, governments typically resist eliminating inflation because
Correct!
Question 4
0
/ 2
pts
According to new Keynesians, which of the following is NOT an important source of price stickiness?
According to new Keynesians, which of the following is NOT an important source of price stickiness?
You Answered
Correct Answer
Question 5
0
/ 2
pts
In the quantity theory of money demand,
In the quantity theory of money demand,
You Answered
Correct Answer
Question 6
2
/ 2
pts
Which of the following best describes a price taker?
Which of the following best describes a price taker?
Correct!
Question 7
2
/ 2
pts
Milton Friedman and Anna Schwartz found in their study of money and business cycles from the Civil War to 1960 that
Milton Friedman and Anna Schwartz found in their study of money and business cycles from the Civil War to 1960 that
Question 8
2
/ 2
pts
Demand-pull inflation results from
Demand-pull inflation results from
Correct!
Question 9
0
/ 2
pts
Attempts by policymakers to keep the rate of unemployment below the natural rate of unemployment for a sustained period of time will result in
Attempts by policymakers to keep the rate of unemployment below the natural rate of unemployment for a sustained period of time will result in
Correct Answer
Question 10
0
/ 2
pts
The Federal Reserve pursued an expansionary monetary policy during 1964 in order to
The Federal Reserve pursued an expansionary monetary policy during 1964 in order to
Correct Answer
You Answered
Question 11
2
/ 2
pts
According to the Ricardian equivalence proposition,
According to the Ricardian equivalence proposition,
Correct!
Question 12
2
/ 2
pts
New Keynesian and new classical economists agree that
New Keynesian and new classical economists agree that
Correct!
Question 13
0
/ 2
pts
Long-term inflation is principally
Long-term inflation is principally
You Answered
Correct Answer
Question 14
2
/ 2
pts
Real business cycle analysis differs from both the new classical and the new Keynesian analyses in holding that
Real business cycle analysis differs from both the new classical and the new Keynesian analyses in holding that
Correct!
Question 15
0
/ 2
pts
A decrease in the willingness or ability of banks to lend has a significant impact on the economy because
A decrease in the willingness or ability of banks to lend has a significant impact on the economy because
Correct Answer
Yo.
Question 12 2 ptsMenu costs of inflation are costs arisi.docx
Question 1
2
/ 2
pts
Menu costs of inflation are costs arising from
Menu costs of inflation are costs arising from
the failure to fully index the tax system for inflation.
Correct!
the need for firms to change prices during times of inflation.
attempts by households and firms to avoid paying an inflation tax on money balances.
high nominal interest rates.
Question 2
2
/ 2
pts
Expansionary shifts of the aggregate demand curve
Expansionary shifts of the aggregate demand curve
Correct!
can originate in either the assets market or the goods market.
cannot originate in either the assets market or the goods market.
can originate in the goods market, but not the assets market.
can originate in the assets market, but not the goods market.
Question 3
2
/ 2
pts
Despite its costs, governments typically resist eliminating inflation because
Despite its costs, governments typically resist eliminating inflation because
the increase in menu costs because of inflation increases the governments' tax revenues.
Correct!
doing so would result in lost output and jobs when the economy is near full employment.
governments lack the knowledge of how to eliminate inflation.
as net lenders, governments benefit from inflation.
Question 4
0
/ 2
pts
According to new Keynesians, which of the following is NOT an important source of price stickiness?
According to new Keynesians, which of the following is NOT an important source of price stickiness?
Long-term nominal wage contracts
You Answered
Imperfect competition among sellers in the goods market
Long-term nominal price contracts
Correct Answer
Government wage and price controls
Question 5
0
/ 2
pts
In the quantity theory of money demand,
In the quantity theory of money demand,
the demand for real balances is determined by the price level.
You Answered
velocity is assumed to vary with the price level.
the price level is assumed to be constant.
Correct Answer
velocity is assumed to be constant.
Question 6
2
/ 2
pts
Which of the following best describes a price taker?
Which of the following best describes a price taker?
Firms taking the aggregate price level as given
Prices being set by long-term contracts
Price strategies found in monopolistically competitive markets
Correct!
A firm taking the market price as given
Question 7
2
/ 2
pts
Milton Friedman and Anna Schwartz found in their study of money and business cycles from the Civil War to 1960 that
Milton Friedman and Anna Schwartz found in their study of money and business cycles from the Civil War to 1960 that
there is no consistent relationship between money and output over the business cycle.
the growth rate of the money supply rises before output declines in every business cycle.
the growth rate of the money supply falls before output declines during some business cycles and rises before output declines during other business cycles.
Correct!
the growth.
Question 1 1. Using aggregate supply and demand analysis, disc.docx
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 ...
Macroeconomics_Elasticity and its Applications
Book: Priciples of Macroeconomics
Writer: G. Mankew
Chapter: 5
Elasticity and its Applications
QuizQuestion 1(1 point)The actual change in th.docx
Quiz
Question 1
(1 point)
The actual change in the money supply equals
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Question 2
(1 point)
The required reserve ratio equals 10 percent and all banks initially have zero excess reserves. The Fed buys $1 million in U.S. government securities. The most the money supply can increase is
Save
Question 3
(1 point)
The more people decide to hold currency, the
Save
Question 4
(1 point)
The discount rate is the
Save
Question 5
(1 point)
The most precise way the Fed has to control the money is
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Question 6
(1 point)
According to the above figure, a shortage is shown between which two points?
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Question 7
(1 point)
A decrease in demand and a decrease in supply will lead to a
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Question 8
(1 point)
If the current price of a market basket of goods is $850 and the base year price for the same market basket is $500, what is the value of the price index?
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Question 9
(1 point)
The only way that a society can produce outside the production possibilities curve is
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Question 10
(1 point)
Suppose the tax rate on the first $10,000 income is 0; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $30,000; and 40 percent on any income over $80,000. Family A has income of $40,000 and Family B has income of $100,000. What is the marginal and average tax rate for each family?
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Question 11
(1 point)
The marginal tax rate is equal to
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Question 12
(1 point)
One solution to the Social Security problem cited in the text is to
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Question 13
(1 point)
Social Security taxes are regressive because
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Question 14
(4 points)
Assume an open, mixed economy (C + I + G + X = real GDP) and an MPS of .2 What is the multiplier?
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Question 15
(1 point)
The U.S. fiduciary monetary system
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Question 16
(1 point)
Refer to the above table. The value of M1 is
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Question 17
(1 point)
Possession of information by one party in a financial transaction but not by the other party is
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Question 18
(1 point)
The Federal Reserve bank is managed by
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Question 19
(1 point)
As a "lender of last resort" the Fed
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Question 20
(1 point)
Required reserves are
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Question 21
(1 point)
A bank with deposits of $500 million has $75 million in cash on hand, $50 million in deposits with the Fed, and $80 million in government securities. If the reserve requirement is 15 percent, the bank has excess reserves of
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Question 22
(1 point)
A bank with $100 million in deposits has $6 million in vault cash, $6 million on deposit with the Fed, and $6 million in government securities. The reserve requirement is 20 percent. A person deposits a check for $10 million drawn on another bank. The maximum loan this bank can make once the check clears is
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Question 23
(1 point)
Assuming a reserve ratio of 10 percent, if a bank sells $100,000 in securities how much can the bank loan.
Recommended
Question 12 ptsThe best explanation of why the aggregate deman.docx
Question 1
2
pts
The best explanation of why the aggregate demand curve has a negative slope is that
The best explanation of why the aggregate demand curve has a negative slope is that
Flag this Question
Question 2
2
pts
Transactions velocity
Transactions velocity
Flag this Question
Question 3
2
pts
In the new classical view, if the Chairman of the Fed announces a 10% increase in the money supply and then takes actions that cause the money supply to grow by more than 10%, the result will be
In the new classical view, if the Chairman of the Fed announces a 10% increase in the money supply and then takes actions that cause the money supply to grow by more than 10%, the result will be
Flag this Question
Question 4
2
pts
According to the new classical view, when the actual price level is greater than the expected price level
According to the new classical view, when the actual price level is greater than the expected price level
Flag this Question
Question 5
2
pts
Business cycles
Business cycles
Flag this Question
Question 6
2
pts
In the new Keynesian view, the larger the proportion of firms in the economy with sticky prices,
In the new Keynesian view, the larger the proportion of firms in the economy with sticky prices,
Flag this Question
Question 7
2
pts
In the new Keynesian expression for the price level, c represents
In the new Keynesian expression for the price level,
c
represents
Flag this Question
Question 8
2
pts
The book in which Milton Friedman and Anna Schwartz reported on their study of the relation between money and the business cycle is
The book in which Milton Friedman and Anna Schwartz reported on their study of the relation between money and the business cycle is
Flag this Question
Question 9
2
pts
In the new Keynesian approach, an increase in the nominal money supply
In the new Keynesian approach, an increase in the nominal money supply
Flag this Question
Question 10
2
pts
In the new Keynesian approach, an increase in the nominal money supply affects output by
In the new Keynesian approach, an increase in the nominal money supply affects output by
Flag this Question
Question 11
2
pts
During the years from 1964 to 1969, inflation increased in the United States
During the years from 1964 to 1969, inflation increased in the United States
Flag this Question
Question 12
2
pts
The expression for velocity derived from Keynes's liquidity preference theory is
The expression for velocity derived from Keynes's liquidity preference theory is
Flag this Question
Question 13
2
pts
Which of the following expressions is correct?
Which of the following expressions is correct?
Flag this Question
Question 14
2
pts
Holding everything else constant, the increased use of credit cards in recent years probably
Holding everything else constant, the increased use of credit cards in recent years probably
Flag this Question
Question 15
2
pts
The simultaneous equilibrium of the money, n.
Question 12 ptsPeoples decision to hold money based on the co.docx
Question 1
2
pts
People's decision to hold money based on the comparison of the relative returns of money and nonmoney assets is known as
People's decision to hold money based on the comparison of the relative returns of money and nonmoney assets is known as
Flag this Question
Question 2
2
pts
According to Friedman, the opportunity cost of holding money depends on all of the following EXCEPT
According to Friedman, the opportunity cost of holding money depends on all of the following EXCEPT
Flag this Question
Question 3
2
pts
If in the short run prices did not respond at all to changes in aggregate demand, the short-run aggregate supply curve would
If in the short run prices did not respond at all to changes in aggregate demand, the short-run aggregate supply curve would
Flag this Question
Question 4
2
pts
Sustained growth in the money supply doesn't affect real output in the long run but does lead to inflation according to
Sustained growth in the money supply doesn't affect real output in the long run but does lead to inflation according to
Flag this Question
Question 5
2
pts
Which of the following is a likely causative factor in the movement of M1 velocity during the 1980s?
Which of the following is a likely causative factor in the movement of
M1
velocity during the 1980s?
Flag this Question
Question 6
2
pts
Business cycles typically last
Business cycles typically last
Flag this Question
Question 7
2
pts
Cost-push inflation
Cost-push inflation
Flag this Question
Question 8
2
pts
According to the new classical approach to the aggregate supply curve, the aggregate supply curve slopes upward because
According to the new classical approach to the aggregate supply curve, the aggregate supply curve slopes upward because
Flag this Question
Question 9
2
pts
Inflation generates an excess burden whenever
Inflation generates an excess burden whenever
Flag this Question
Question 10
2
pts
Periods of contraction in the business cycle are known as
Periods of contraction in the business cycle are known as
Flag this Question
Question 11
2
pts
Most economists believe that changes in the price level have
Most economists believe that changes in the price level have
Flag this Question
Question 12
2
pts
Which of the following schools of thought among economists believe that activist stabilization policy is ever desirable?
Which of the following schools of thought among economists believe that activist stabilization policy is ever desirable?
Flag this Question
Question 13
2
pts
Stabilization policy refers to attempts to
Stabilization policy refers to attempts to
Flag this Question
Question 14
2
pts
In the new Keynesian approach, an increase in the nominal money supply
In the new Keynesian approach, an increase in the nominal money supply
Flag this Question
Question 15
2
pts
Whom did President Jimmy Carter appoint chair of the Board of Governors of the Fed in order to convince the public about.
Question 12 2 ptsMenu costs of inflation are costs arising.docx
Question 1
2
/ 2
pts
Menu costs of inflation are costs arising from
Menu costs of inflation are costs arising from
Correct!
Question 2
2
/ 2
pts
Expansionary shifts of the aggregate demand curve
Expansionary shifts of the aggregate demand curve
Correct!
Question 3
2
/ 2
pts
Despite its costs, governments typically resist eliminating inflation because
Despite its costs, governments typically resist eliminating inflation because
Correct!
Question 4
0
/ 2
pts
According to new Keynesians, which of the following is NOT an important source of price stickiness?
According to new Keynesians, which of the following is NOT an important source of price stickiness?
You Answered
Correct Answer
Question 5
0
/ 2
pts
In the quantity theory of money demand,
In the quantity theory of money demand,
You Answered
Correct Answer
Question 6
2
/ 2
pts
Which of the following best describes a price taker?
Which of the following best describes a price taker?
Correct!
Question 7
2
/ 2
pts
Milton Friedman and Anna Schwartz found in their study of money and business cycles from the Civil War to 1960 that
Milton Friedman and Anna Schwartz found in their study of money and business cycles from the Civil War to 1960 that
Question 8
2
/ 2
pts
Demand-pull inflation results from
Demand-pull inflation results from
Correct!
Question 9
0
/ 2
pts
Attempts by policymakers to keep the rate of unemployment below the natural rate of unemployment for a sustained period of time will result in
Attempts by policymakers to keep the rate of unemployment below the natural rate of unemployment for a sustained period of time will result in
Correct Answer
Question 10
0
/ 2
pts
The Federal Reserve pursued an expansionary monetary policy during 1964 in order to
The Federal Reserve pursued an expansionary monetary policy during 1964 in order to
Correct Answer
You Answered
Question 11
2
/ 2
pts
According to the Ricardian equivalence proposition,
According to the Ricardian equivalence proposition,
Correct!
Question 12
2
/ 2
pts
New Keynesian and new classical economists agree that
New Keynesian and new classical economists agree that
Correct!
Question 13
0
/ 2
pts
Long-term inflation is principally
Long-term inflation is principally
You Answered
Correct Answer
Question 14
2
/ 2
pts
Real business cycle analysis differs from both the new classical and the new Keynesian analyses in holding that
Real business cycle analysis differs from both the new classical and the new Keynesian analyses in holding that
Correct!
Question 15
0
/ 2
pts
A decrease in the willingness or ability of banks to lend has a significant impact on the economy because
A decrease in the willingness or ability of banks to lend has a significant impact on the economy because
Correct Answer
Yo.
Question 12 2 ptsMenu costs of inflation are costs arisi.docx
Question 1
2
/ 2
pts
Menu costs of inflation are costs arising from
Menu costs of inflation are costs arising from
the failure to fully index the tax system for inflation.
Correct!
the need for firms to change prices during times of inflation.
attempts by households and firms to avoid paying an inflation tax on money balances.
high nominal interest rates.
Question 2
2
/ 2
pts
Expansionary shifts of the aggregate demand curve
Expansionary shifts of the aggregate demand curve
Correct!
can originate in either the assets market or the goods market.
cannot originate in either the assets market or the goods market.
can originate in the goods market, but not the assets market.
can originate in the assets market, but not the goods market.
Question 3
2
/ 2
pts
Despite its costs, governments typically resist eliminating inflation because
Despite its costs, governments typically resist eliminating inflation because
the increase in menu costs because of inflation increases the governments' tax revenues.
Correct!
doing so would result in lost output and jobs when the economy is near full employment.
governments lack the knowledge of how to eliminate inflation.
as net lenders, governments benefit from inflation.
Question 4
0
/ 2
pts
According to new Keynesians, which of the following is NOT an important source of price stickiness?
According to new Keynesians, which of the following is NOT an important source of price stickiness?
Long-term nominal wage contracts
You Answered
Imperfect competition among sellers in the goods market
Long-term nominal price contracts
Correct Answer
Government wage and price controls
Question 5
0
/ 2
pts
In the quantity theory of money demand,
In the quantity theory of money demand,
the demand for real balances is determined by the price level.
You Answered
velocity is assumed to vary with the price level.
the price level is assumed to be constant.
Correct Answer
velocity is assumed to be constant.
Question 6
2
/ 2
pts
Which of the following best describes a price taker?
Which of the following best describes a price taker?
Firms taking the aggregate price level as given
Prices being set by long-term contracts
Price strategies found in monopolistically competitive markets
Correct!
A firm taking the market price as given
Question 7
2
/ 2
pts
Milton Friedman and Anna Schwartz found in their study of money and business cycles from the Civil War to 1960 that
Milton Friedman and Anna Schwartz found in their study of money and business cycles from the Civil War to 1960 that
there is no consistent relationship between money and output over the business cycle.
the growth rate of the money supply rises before output declines in every business cycle.
the growth rate of the money supply falls before output declines during some business cycles and rises before output declines during other business cycles.
Correct!
the growth.
Question 1 1. Using aggregate supply and demand analysis, disc.docx
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 ...
Macroeconomics_Elasticity and its Applications
Book: Priciples of Macroeconomics
Writer: G. Mankew
Chapter: 5
Elasticity and its Applications
QuizQuestion 1(1 point)The actual change in th.docx
Quiz
Question 1
(1 point)
The actual change in the money supply equals
Save
Question 2
(1 point)
The required reserve ratio equals 10 percent and all banks initially have zero excess reserves. The Fed buys $1 million in U.S. government securities. The most the money supply can increase is
Save
Question 3
(1 point)
The more people decide to hold currency, the
Save
Question 4
(1 point)
The discount rate is the
Save
Question 5
(1 point)
The most precise way the Fed has to control the money is
Save
Question 6
(1 point)
According to the above figure, a shortage is shown between which two points?
Save
Question 7
(1 point)
A decrease in demand and a decrease in supply will lead to a
Save
Question 8
(1 point)
If the current price of a market basket of goods is $850 and the base year price for the same market basket is $500, what is the value of the price index?
Save
Question 9
(1 point)
The only way that a society can produce outside the production possibilities curve is
Save
Question 10
(1 point)
Suppose the tax rate on the first $10,000 income is 0; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $30,000; and 40 percent on any income over $80,000. Family A has income of $40,000 and Family B has income of $100,000. What is the marginal and average tax rate for each family?
Save
Question 11
(1 point)
The marginal tax rate is equal to
Save
Question 12
(1 point)
One solution to the Social Security problem cited in the text is to
Save
Question 13
(1 point)
Social Security taxes are regressive because
Save
Question 14
(4 points)
Assume an open, mixed economy (C + I + G + X = real GDP) and an MPS of .2 What is the multiplier?
Save
Question 15
(1 point)
The U.S. fiduciary monetary system
Save
Question 16
(1 point)
Refer to the above table. The value of M1 is
Save
Question 17
(1 point)
Possession of information by one party in a financial transaction but not by the other party is
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Question 18
(1 point)
The Federal Reserve bank is managed by
Save
Question 19
(1 point)
As a "lender of last resort" the Fed
Save
Question 20
(1 point)
Required reserves are
Save
Question 21
(1 point)
A bank with deposits of $500 million has $75 million in cash on hand, $50 million in deposits with the Fed, and $80 million in government securities. If the reserve requirement is 15 percent, the bank has excess reserves of
Save
Question 22
(1 point)
A bank with $100 million in deposits has $6 million in vault cash, $6 million on deposit with the Fed, and $6 million in government securities. The reserve requirement is 20 percent. A person deposits a check for $10 million drawn on another bank. The maximum loan this bank can make once the check clears is
Save
Question 23
(1 point)
Assuming a reserve ratio of 10 percent, if a bank sells $100,000 in securities how much can the bank loan.
Liberty university econ 214 exam 2 complete solutions correct answers a+ work
https://www.coursemerit.com/solution-details/21250/Liberty-University-ECON-214-exam-2-complete-solutions-correct-answers-A-work
ECON125-HK2. ECONOMICS FOR MANAGERS (ECON125-HK2) TAKE ASSESSMEN.docx
ECON125-HK2. ECONOMICS FOR MANAGERS (ECON125-HK2) > TAKE ASSESSMENT: EXAM 1
Question 1
2 points
Save
Which of the following economic systems abolishes all private property?
communism
socialism
fascism
all of the above
Question 2
2 points
Save
The profit motive is one characteristic of a command economy.
True
False
Question 3
2 points
Save
In a market system, the government enforces laws ensuring that private enterprises and conditions of competition will prevail.
True
False
Question 4
2 points
Save
The most common type of business in the United States is the corporation.
True
False
Question 5
2 points
Save
Laissez-faire is a policy of no government intervention in the economic activities of individuals and businesses.
True
False
Question 6
2 points
Save
In a partnership, each partner’s liability is limited to his or her contribution to the partnership.
True
False
Question 7
2 points
Save
There are no government-regulated markets in the U.S. economy.
True
False
Question 8
2 points
Save
Which of the following is not among the United States’ economic goals?
full employment
stable prices
healthy economic growth
equal distribution of income
Question 9
2 points
Save
Under the U.S. market system, land and capital goods are owned mainly by
the federal government
individuals and firms
local governments
state governments
Question 10
2 points
Save
The biggest disadvantage of a sole proprietorship is the lack of distinction between the business and the owner.
True
False
Question 11
2 points
Save
In the United States, marketing cooperatives are most commonly found in the agriculture industry.
True
False
Question 12
2 points
Save
Self-interest is a major tenet of economic liberalism.
True
False
Question 13
2 points
Save
Which of the following is considered a command economy?
communism
socialism
fascism
all of the above
Question 14
2 points
Save
Economics is considered a physical science.
True
False
Question 15
2 points
Save
The difference between a capital good and a consumer good depends on
the purpose for which it is used
how it was produced
what it is
how quickly it is used up
Question 16
2 points
Save
Positive economics deals with “what is” as opposed to “what ought to be.”
True
False
Question 17
2 points
Save
Production is the creation or addition of utility.
True
False
Question 18
2 points
Save
Consumption is the ultimate end of economic activity.
True
False
Question 19
2 points
Save
The relationship between the price of a book and the number of volumes purchased would be an example of microeconomics.
True
False
Question 20
2 points
Save
An example of a ...
ECO 203 Success Begins /newtonhelp.com
For more course tutorials visit
www.newtonhelp.com
This Tutorial contains 3 Set of Papers for each Assignment, 4 Set of Quiz for each Week (DQs—1 Set Only)
ECO 203 Week 1 DQ 1 Economics Systems
ECON201 Homework 3Question 1 (1 point) The term ”full empl.docx
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 ...
ECO 203 TUTORIALS Lessons in Excellence--eco203tutorials.com
The whole purpose of education is to turn mirrors into windows
CU Tomorrow Intro PPT
REAL Solutions & Filene Research Institute Webinar: Intro to CU Tomorrow - September 17, 2009.
Take Test Unit 1 ExamContentTop of FormAssistive Technolo.docx
Take Test: Unit 1 Exam
Content
Top of Form
Assistive Technology Tips [opens in new window]
Instructions
Multiple Attempts
This test allows 2 attempts. This is attempt number 1.
Force Completion
This test can be saved and resumed later.
Question Completion Status:
Question 1
1.
Which of the following is one of the Five Fundamental Questions?
Which products will be in scarce supply and which in excess supply?
Who should appoint the head of the central bank?
How much should society save?
What goods and services will be produced?
1 points
Question 2
1.
In terms of the circular flow diagram, businesses obtain revenue through the _____ market and make expenditures in the _____ market.
product; financial
resource; product
product; resource
capital; product
1 points
Question 3
1.
An economic system:
requires a grouping of private markets linked to one another.
is a particular set of institutional arrangements and a coordinating mechanism used to respond to the economizing problem.
requires some sort of centralized authority (such as government) to coordinate economic activity.
is a plan or scheme that allows a firm to make money at some other firm's expense.
1 points
Question 4
1.
Economic systems differ according to which two main characteristics?
Who owns the factors of production, and the methods used to coordinate economic activity.
The technology used in production, and the quantity and quality of natural resources.
How goods are produced, and who gets them.
The political system in place, and the degree of scarcity facing the economy.
1 points
Question 5
Which of the following is assumed in constructing a typical production possibilities curve?
the economy is using its resources inefficiently.
resources are perfectly shiftable among alternative uses.
production technology is fixed.
the economy is engaging in international trade.
1 points
Question 6
1.
The typical production possibilities curve is:
an upsloping line that is bowed out from the origin.
a downsloping line that is bowed in toward the origin.
a downsloping line that is bowed out from the origin.
a straight upsloping line.
1 points
Question 7
1.
Broadly defined, competition involves:
private property and freedom of expression.
independently acting buyers and sellers and freedom to enter or leave markets.
increasing opportunity costs and diminishing marginal utility.
capital goods and division of labor.
1 points
Question 8
1.
Refer to the above diagram. Arrows (1) and (2) represent:
goods and resources respectively.
money incomes and output respectively.
output and money incomes respectively.
resources and goods respectively.
1 points
Question 9
1.
Which of the following is not considered by economists to be an economic resource?
money
factory workers
computers at a retail store
a forest
1 points
Question 10
1.
Slopes of lines are especially important in economic ...
QUESTION The BP Pipeline case is a complex situational case abo.docx
QUESTION:
The BP Pipeline case is a complex situational case about the actions of individuals and the practices of a large corporation.
At the heart of the dispute over whether or not BP acted with gross negligence and wilful misconduct in the 2010 Deepwater Horizon disaster is the “swiss cheese” model of complex accidents.
Hazardous activities are guarded against by multiple barriers and so long as any failures are scattered through them, the system as a whole will avoid an accident.
Research more into this topic and p
repare a 2-3 page paper that adequately addresses the the ethical and environmental issues in this case. Be sure to s
ummarize the BP Pipeline Case regarding Ethical Behaviors and Decision-Making.
.
Question Properties of life and recognizing living and nonliving .docx
Question:
Properties of life and recognizing living and nonliving things.
Consider the properties and characteristics of life. Choose two items (one of which is alive or has been alive and one which has never been alive). Compare and contrast their characteristics. What characteristics do they share and how are they different? Be prepared to discuss the importance of the various characteristics of living things and how their combination makes life an emergent part of the universe.
.
Question After reading the first 10 chapters and the economic n.docx
Question: After reading the first 10 chapters and the economic news from the major newspaper such as the Wall Street Journal, New York Times, the Economist and the like, please write a three page paper to explain the three main goal of macroeconomics in the United States and make a diagnosis of the current state of the American economy.
-Economic Report
-
Remember that the report must be at least 3 pages long.
-
You must provide the reference for each of the source used in the paper
-
Please do not use Wikipedia and other open source
.
Question Answer any TEN of the following questions.1. How are.docx
Question: Answer any TEN of the following questions.
1. How are multiplexers different from switchers?
2. Name the basic types of multiplexers?
3. Name the advanced features that can be incorporate into multiplexers.
4. Describe the principle of time division multiplexing.
5. Describe the significance of camera ID number in case of multiplexing operation.
6. Describe how a quad multiplexer works.
7. What do you understand by picture in a picture in relation to multiplexer.
8. Explain how a multi-picture mosaic display is generated.
9. Why do you need encoder and decoder along with multiplexer?
10. Describe the concept of time lapse recording mode.
11. Compare the performance of duplex multiplexer with that of triplex multiplexer.
12. How is digital recording different from analog recording?
13. Describe how video motion detection can be incorporated in to a multiplexer.
14. What external alarm sensors can be incorporated in to multiplexer?
15. Describe the concept of remote distributed multiplexing.
4 pages
.
Question 6What is stakeholder theory Explain.Your respons.docx
Question 6
What is stakeholder theory? Explain.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Course Textbook
Hartman, L. P., DesJardins, J., & MacDonald, C. (2014).
Business ethics: Decision making for personal integrity & social responsibility
(3rd ed.). New York, NY: McGraw-Hill.
.
Question 6 Explain the significance of gatekeepers. Your respons.docx
Question 6
Explain the significance of gatekeepers.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Course Textbook
Hartman, L. P., DesJardins, J., & MacDonald, C. (2014).
Business ethics: Decision making for personal integrity & social responsibility
(3rd ed.). New York, NY: McGraw-Hill.
.
Question 4The stockholders’ equity section of Tootsie Roll Indus.docx
Question 4
The stockholders’ equity section of
Tootsie Roll Industries’
balance sheet is shown in the Consolidated Statement of Financial Position.
(Note that Tootsie Roll has two classes of common stock. To answer the following questions, add the two classes of stock together.)
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
2011
2010
2009
Net product sales
$528,369
$517,149
$495,592
Rental and royalty revenue
4,136
4,299
3,739
Total revenue
532,505
521,448
499,331
Product cost of goods sold
365,225
349,334
319,775
Rental and royalty cost
1,038
1,088
852
Total costs
366,263
350,422
320,627
Product gross margin
163,144
167,815
175,817
Rental and royalty gross margin
3,098
3,211
2,887
Total gross margin
166,242
171,026
178,704
Selling, marketing and administrative expenses
108,276
106,316
103,755
Impairment charges
—
—
14,000
Earnings from operations
57,966
64,710
60,949
Other income (expense), net
2,946
8,358
2,100
Earnings before income taxes
60,912
73,068
63,049
Provision for income taxes
16,974
20,005
9,892
Net earnings
$43,938
$53,063
$53,157
Net earnings
$43,938
$53,063
$53,157
Other comprehensive earnings (loss)
(8,740
)
1,183
2,845
Comprehensive earnings
$35,198
$54,246
$56,002
Retained earnings at beginning of year.
$135,866
$147,687
$144,949
Net earnings
43,938
53,063
53,157
Cash dividends
(18,360
)
(18,078
)
(17,790
)
Stock dividends
(47,175
)
(46,806
)
(32,629
)
Retained earnings at end of year
$114,269
$135,866
$147,687
Earnings per share
$0.76
$0.90
$0.89
Average Common and Class B Common shares outstanding
57,892
58,685
59,425
(The accompanying notes are an integral part of these statements.)
CONSOLIDATED STATEMENTS OF
Financial Position
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data)
Assets
December 31,
2011
2010
CURRENT ASSETS:
Cash and cash equivalents
$78,612
$115,976
Investments
10,895
7,996
Accounts receivable trade, less allowances of $1,731 and $1,531
41,895
37,394
Other receivables
3,391
9,961
Inventories:
Finished goods and work-in-process
42,676
35,416
Raw materials and supplies
29,084
21,236
Prepaid expenses
5,070
6,499
Deferred income taxes
578
689
Total current assets
212,201
235,167
PROPERTY, PLANT AND EQUIPMENT, at cost:
Land
21,939
21,696
Buildings
107,567
102,934
Machinery and equipment
322,993
307,178
Construction in progress
2,598
9,243
455,097
440,974
Less—Accumulated depreciation
242,935
225,482
Net property, plant and equipmen.
Question 5. Look how great we are doing,” said Sawyer Mittlestaed.docx
Question 5.
“Look how great we are doing,” said Sawyer Mittlestaedt, president of Elliott Company. “Our sales have grown from $1.6 million to $2.0 million this year, we about doubled our warehouse space, and we have more cash in the bank than we started with. A few more years of growth like this and we’ll be tops in the industry.”
“Yes, our statements look pretty good,” replied Endia Bush, the company’s vice president for finance. “But I have concerns that we’re doing business with a lot of companies we don’t know much about. But I do agree, we’re certainly selling a lot of merchandise; our inventory is actually down from last year.”
See statements on next page.
Elliott Company
Comparative Balance Sheets
At December 31, 2015 and 2014
2015
2014
Assets
Current assets:
Cash.
$42,000
$ 27,000
15000 incr
Marketable securities
19,000
13,000
Accounts receivable.
710,000
530,000
Inventory
848,000
860,000
Prepaid expenses
10,000
5,000
Total current assets
1,435,000
1,629,000
Long-term investments
60,000
110,000
Loans to subsidiaries
130,000
80,000
Plant and equipment
3,170,000
2,600,000
Less accumulated depreciation
810,000
755,000
Net plant and equipment
2,360,000
1,845,000
Patents
84,000
90,000
Total assets
$4,263,000
$3,560,000
Liabilities and Stockholders’ Equity
Current liabilities
:
Accounts payable
$ 970,000
$ 670,000
Accrued liabilities
65,000
82,000
Total current liabilities
1,035,000
752,000
Long-term Bonds Payable
820,000
600,000
Notes payable
95,000
80,000
Total liabilities
1,950,000
1,432,000
Stockholders’ equity:
Common stock
1,740,000
1,650,000
Retained earnings .
573,000
478,000
Total stockholders’ equity
2,313,000
2,128,000
Total liabilities and stock
$4,263,000
3,560,000
Elliott’s income statement for 2015 follows
Sales
$2,000,000
Cost of goods sold
1,300,000
Gross profit
700,000
Selling and administrative expenses
490,000
Net operating income
210,000
Nonoperating items:
Gain on sale of investments
$60,000
Loss on sale of equipment.
20,000
40,000
Income before taxes
250,000
Income taxes
80,000
Net income
$ 170,000
The following additional information is available about Elliott’s activities during 2015:
Cash dividends declared and paid to the common stockholders totaled $75,000.
Long-term BONDS with a value of $380,000 were repaid during the year.
Equipment was sold during the year for $70,000. The equipment had cost $130,000 and had $40,000 in accumulated depreciation on the date of sale.
Long-term investments were sold during the year for $110,000. These investments had cost $50,000 when purchased several years ago.
5-1. Ms. Bush asks you to prepare a statement of cash flow (indirect method) for 2015.
5-2. What is Elliott’s free cash flow? Interpret your findings.
5-3. Is Elliott Corp. doing as well as its CEO believes? Discuss.
Question 7.
Thompson Co..
Question 5The financial statements of The Hershey Company and .docx
Question 5
The financial statements of
The Hershey Company
and
Tootsie Roll
are presented below.
THE HERSHEY COMPANY
CONSOLIDATED STATEMENTS OF INCOME
For the years ended December 31,
2011
2010
2009
In thousands of dollars except per share amounts
Net Sales
$6,080,788
$5,671,009
$5,298,668
Costs and Expenses:
Cost of sales
3,548,896
3,255,801
3,245,531
Selling, marketing and administrative
1,477,750
1,426,477
1,208,672
Business realignment and impairment (credits) charges, net
(886
)
83,433
82,875
Total costs and expenses
5,025,760
4,765,711
4,537,078
Income before Interest and Income Taxes
1,055,028
905,298
761,590
Interest expense, net
92,183
96,434
90,459
Income before Income Taxes
962,845
808,864
671,131
Provision for income taxes
333,883
299,065
235,137
Net Income
$628,962
$509,799
$435,994
Net Income Per Share—Basic—Class B Common Stock
$2.58
$2.08
$1.77
Net Income Per Share—Diluted—Class B Common Stock
$2.56
$2.07
$1.77
Net Income Per Share—Basic—Common Stock
$2.85
$2.29
$1.97
Net Income Per Share—Diluted—Common Stock
$2.74
$2.21
$1.90
Cash Dividends Paid Per Share:
Common Stock
$1.3800
$1.2800
$1.1900
Class B Common Stock
1.2500
1.1600
1.0712
The notes to consolidated financial statements are an integral part of these statements and are included in the Hershey's 2011 Annual Report, available at www.thehersheycompany.com.
THE HERSHEY COMPANY
CONSOLIDATED BALANCE SHEETS
December 31,
2011
2010
In thousands of dollars
ASSETS
Current Assets:
Cash and cash equivalents
$693,686
$884,642
Accounts receivable—trade
399,499
390,061
Inventories
648,953
533,622
Deferred income taxes
136,861
55,760
Prepaid expenses and other
167,559
141,132
Total current assets
2,046,558
2,005,217
Property, Plant and Equipment, Net
1,559,717
1,437,702
Goodwill
516,745
524,134
Other Intangibles
111,913
123,080
Deferred Income Taxes
38,544
21,387
Other Assets
138,722
161,212
Total assets
$4,412,199
$4,272,732
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable
$420,017
$410,655
Accrued liabilities
612,186
593,308
Accrued income taxes
1,899
9,402
Short-term debt
42,080
24,088
Current portion of long-term debt
97,593
261,392
Total current liabilities
1,173,775
1,298,845
Long-term Debt
1,748,500
1,541,825
Other Long-term Liabilities
617,276
494,461
Total liabilities
3,539,551
3,335,131
Commitments and Contingencies
—
—
Stockholders’ Equity:
The Hershey Company Stockholders’ Equity
Preferred Stock, shares issued: none in 2011 and 2010
—
—
Common Stock, shares issued: 299,269,702 in 2011 and 299,195,325 in 2010
299,269
299,195
Class B Common Stock.
Question 4The stockholders’ equity section of Tootsie Roll Industr.docx
Question 4
The stockholders’ equity section of Tootsie Roll Industries’ balance sheet is shown in the Consolidated Statement of Financial Position.
(Note that Tootsie Roll has two classes of common stock. To answer the following questions, add the two classes of stock together.)
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
2011
2010
2009
Net product sales
$528,369
$517,149
$495,592
Rental and royalty revenue
4,136
4,299
3,739
Total revenue
532,505
521,448
499,331
Product cost of goods sold
365,225
349,334
319,775
Rental and royalty cost
1,038
1,088
852
Total costs
366,263
350,422
320,627
Product gross margin
163,144
167,815
175,817
Rental and royalty gross margin
3,098
3,211
2,887
Total gross margin
166,242
171,026
178,704
Selling, marketing and administrative expenses
108,276
106,316
103,755
Impairment charges
—
—
14,000
Earnings from operations
57,966
64,710
60,949
Other income (expense), net
2,946
8,358
2,100
Earnings before income taxes
60,912
73,068
63,049
Provision for income taxes
16,974
20,005
9,892
Net earnings
$43,938
$53,063
$53,157
Net earnings
$43,938
$53,063
$53,157
Other comprehensive earnings (loss)
(8,740
)
1,183
2,845
Comprehensive earnings
$35,198
$54,246
$56,002
Retained earnings at beginning of year.
$135,866
$147,687
$144,949
Net earnings
43,938
53,063
53,157
Cash dividends
(18,360
)
(18,078
)
(17,790
)
Stock dividends
(47,175
)
(46,806
)
(32,629
)
Retained earnings at end of year
$114,269
$135,866
$147,687
Earnings per share
$0.76
$0.90
$0.89
Average Common and Class B Common shares outstanding
57,892
58,685
59,425
(The accompanying notes are an integral part of these statements.)
CONSOLIDATED STATEMENTS OF
Financial Position
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data)
Assets
December 31,
2011
2010
CURRENT ASSETS:
Cash and cash equivalents
$78,612
$115,976
Investments
10,895
7,996
Accounts receivable trade, less allowances of $1,731 and $1,531
41,895
37,394
Other receivables
3,391
9,961
Inventories:
Finished goods and work-in-process
42,676
35,416
Raw materials and supplies
29,084
21,236
Prepaid expenses
5,070
6,499
Deferred income taxes
578
689
Total current assets
212,201
235,167
PROPERTY, PLANT AND EQUIPMENT, at cost:
Land
21,939
21,696
Buildings
107,567
102,934
Machinery and equipment
322,993
307,178
Construction in progress
2,598
9,243
455,097
440,974
Less—Accumulated depreciation
242,935
225,482
Net property, plant and equipment
.
Question 8The contract interest rate for bondsA.must.docx
Question
8:
The contract interest rate for bonds:
A.
must equal the effective interest rate.
B.
is greater than the effective interest rate when bonds are issued at a premium.
C.
has no relation to the cash flow associated with a particular bond.
D.
will fluctuate over the life of a bond.
E.
None of these.
Question
9:
Frick Corporation issued $100,000 of 7%, 15-year bonds on June 1, 2014 (dated April 1 2014) at 101 plus accrued interest, which is paid on April 1 and October 1.
The proper entry to record issuance of the bonds includes a debit to Cash for:
a.
$100,000.
b.
$101,000.
c.
$101,167.
d.
$102,167.
e.
None of these.
Question
10:
Which of the following statements about treasury stock is true?
a.
Excess of the sales price over cost should be credited to retained earnings.
b.
Gains are not recorded on treasury stock transactions but losses are.
c.
Losses on treasury stock transactions are recorded in income.
d.
Reacquiring treasury stock causes stockholders equity to decrease.
e.
None of these.
Question
11:
Frick Company has 100,000 shares of common stock outstanding. On April 15, the board declared a $.30 dividend to be paid to stockholders of record on May 4.
The dividend was distributed on May 15.
The proper journal entry for Frick Company on May 15 does not include:
a.
a credit to Dividends Payable for $30,000.
b.
a debit to Dividends for $30,000.
c.
a credit to Cash for $30,000.
d.
Both A and B, above.
e.
None of these.
Acct221
Page 4 of 8
Question
12:
In an effort to concentrate its resources in more profitable areas, Frick Corporation recently sold its family pizza restaurant segment.
The disposal constitutes:
a.
an extraodinary item.
b.
a discontinued operation which should be treated as a prior period adjustment.
c.
a discontinued operation which should be disclosed net-of-tax effects.
d.
a portion of income from continuing operations.
e.
None of these.
Question
13:
Frick Corporation has 100,000, 5%, $100 par preferred shares outstanding.
The stock is callable at 102, but was originally issued at 99.
The current dividend has been fully paid.
Total stockholders' equity is $20,000,000.
The residual common equity is:
a.
$20,000,000
b.
$10,100,000
c.
$10,000,000
d.
$9,800,000
e.
None of these.
Question
14:
Frick Company's balance sheet included cash ($4,000,000), accounts receivable ($16,000,000), inventories ($10,000,000), prepaid expenses ($2,000,000), accounts payable ($9,000,000), and accrued expenses ($7,000,000).
These are the only current items.
a.
The quick ratio is 2:1.
b.
The quick ratio is 1.25:1.
c.
The current ratio is 1.875:1.
d.
Both A and C.
e.
None of these.
Question
15:
Selected information for 2014 is: cost of goods sold, $5,400,000; average inventory, $1,800,000; net sales, $7,200,000; average receivables, $960,000; and net income, $720,000.
Assuming a 360-day year, what was the inventory turnover ratio for 2014?
a.
333
b.
3
c.
7.5
d.
20
e.
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Question 1
2 points
Save
Which of the following economic systems abolishes all private property?
communism
socialism
fascism
all of the above
Question 2
2 points
Save
The profit motive is one characteristic of a command economy.
True
False
Question 3
2 points
Save
In a market system, the government enforces laws ensuring that private enterprises and conditions of competition will prevail.
True
False
Question 4
2 points
Save
The most common type of business in the United States is the corporation.
True
False
Question 5
2 points
Save
Laissez-faire is a policy of no government intervention in the economic activities of individuals and businesses.
True
False
Question 6
2 points
Save
In a partnership, each partner’s liability is limited to his or her contribution to the partnership.
True
False
Question 7
2 points
Save
There are no government-regulated markets in the U.S. economy.
True
False
Question 8
2 points
Save
Which of the following is not among the United States’ economic goals?
full employment
stable prices
healthy economic growth
equal distribution of income
Question 9
2 points
Save
Under the U.S. market system, land and capital goods are owned mainly by
the federal government
individuals and firms
local governments
state governments
Question 10
2 points
Save
The biggest disadvantage of a sole proprietorship is the lack of distinction between the business and the owner.
True
False
Question 11
2 points
Save
In the United States, marketing cooperatives are most commonly found in the agriculture industry.
True
False
Question 12
2 points
Save
Self-interest is a major tenet of economic liberalism.
True
False
Question 13
2 points
Save
Which of the following is considered a command economy?
communism
socialism
fascism
all of the above
Question 14
2 points
Save
Economics is considered a physical science.
True
False
Question 15
2 points
Save
The difference between a capital good and a consumer good depends on
the purpose for which it is used
how it was produced
what it is
how quickly it is used up
Question 16
2 points
Save
Positive economics deals with “what is” as opposed to “what ought to be.”
True
False
Question 17
2 points
Save
Production is the creation or addition of utility.
True
False
Question 18
2 points
Save
Consumption is the ultimate end of economic activity.
True
False
Question 19
2 points
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True
False
Question 20
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ECO 203 Week 1 DQ 1 Economics Systems
ECON201 Homework 3Question 1 (1 point) The term ”full empl.docx
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)
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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)
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Question 6 options:
a)
Keynesian economists; long run
b)
Neoclassical economists; short run
c)
Keynesian economists; short run
d)
Neoclassical economists; long run
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Potential GDP in the U.S. will be unaffected by ____________________.
Question 7 options:
a)
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b)
the amount of capital available
c)
government institutions
d)
technology
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As the aggregate price level in an economy decreases,
Question 8 options:
a)
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investment decreases.
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AS curve
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Take Test Unit 1 ExamContentTop of FormAssistive Technolo.docx
Take Test: Unit 1 Exam
Content
Top of Form
Assistive Technology Tips [opens in new window]
Instructions
Multiple Attempts
This test allows 2 attempts. This is attempt number 1.
Force Completion
This test can be saved and resumed later.
Question Completion Status:
Question 1
1.
Which of the following is one of the Five Fundamental Questions?
Which products will be in scarce supply and which in excess supply?
Who should appoint the head of the central bank?
How much should society save?
What goods and services will be produced?
1 points
Question 2
1.
In terms of the circular flow diagram, businesses obtain revenue through the _____ market and make expenditures in the _____ market.
product; financial
resource; product
product; resource
capital; product
1 points
Question 3
1.
An economic system:
requires a grouping of private markets linked to one another.
is a particular set of institutional arrangements and a coordinating mechanism used to respond to the economizing problem.
requires some sort of centralized authority (such as government) to coordinate economic activity.
is a plan or scheme that allows a firm to make money at some other firm's expense.
1 points
Question 4
1.
Economic systems differ according to which two main characteristics?
Who owns the factors of production, and the methods used to coordinate economic activity.
The technology used in production, and the quantity and quality of natural resources.
How goods are produced, and who gets them.
The political system in place, and the degree of scarcity facing the economy.
1 points
Question 5
Which of the following is assumed in constructing a typical production possibilities curve?
the economy is using its resources inefficiently.
resources are perfectly shiftable among alternative uses.
production technology is fixed.
the economy is engaging in international trade.
1 points
Question 6
1.
The typical production possibilities curve is:
an upsloping line that is bowed out from the origin.
a downsloping line that is bowed in toward the origin.
a downsloping line that is bowed out from the origin.
a straight upsloping line.
1 points
Question 7
1.
Broadly defined, competition involves:
private property and freedom of expression.
independently acting buyers and sellers and freedom to enter or leave markets.
increasing opportunity costs and diminishing marginal utility.
capital goods and division of labor.
1 points
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1.
Refer to the above diagram. Arrows (1) and (2) represent:
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money incomes and output respectively.
output and money incomes respectively.
resources and goods respectively.
1 points
Question 9
1.
Which of the following is not considered by economists to be an economic resource?
money
factory workers
computers at a retail store
a forest
1 points
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1.
Slopes of lines are especially important in economic ...
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The stockholders’ equity section of
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TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
2011
2010
2009
Net product sales
$528,369
$517,149
$495,592
Rental and royalty revenue
4,136
4,299
3,739
Total revenue
532,505
521,448
499,331
Product cost of goods sold
365,225
349,334
319,775
Rental and royalty cost
1,038
1,088
852
Total costs
366,263
350,422
320,627
Product gross margin
163,144
167,815
175,817
Rental and royalty gross margin
3,098
3,211
2,887
Total gross margin
166,242
171,026
178,704
Selling, marketing and administrative expenses
108,276
106,316
103,755
Impairment charges
—
—
14,000
Earnings from operations
57,966
64,710
60,949
Other income (expense), net
2,946
8,358
2,100
Earnings before income taxes
60,912
73,068
63,049
Provision for income taxes
16,974
20,005
9,892
Net earnings
$43,938
$53,063
$53,157
Net earnings
$43,938
$53,063
$53,157
Other comprehensive earnings (loss)
(8,740
)
1,183
2,845
Comprehensive earnings
$35,198
$54,246
$56,002
Retained earnings at beginning of year.
$135,866
$147,687
$144,949
Net earnings
43,938
53,063
53,157
Cash dividends
(18,360
)
(18,078
)
(17,790
)
Stock dividends
(47,175
)
(46,806
)
(32,629
)
Retained earnings at end of year
$114,269
$135,866
$147,687
Earnings per share
$0.76
$0.90
$0.89
Average Common and Class B Common shares outstanding
57,892
58,685
59,425
(The accompanying notes are an integral part of these statements.)
CONSOLIDATED STATEMENTS OF
Financial Position
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data)
Assets
December 31,
2011
2010
CURRENT ASSETS:
Cash and cash equivalents
$78,612
$115,976
Investments
10,895
7,996
Accounts receivable trade, less allowances of $1,731 and $1,531
41,895
37,394
Other receivables
3,391
9,961
Inventories:
Finished goods and work-in-process
42,676
35,416
Raw materials and supplies
29,084
21,236
Prepaid expenses
5,070
6,499
Deferred income taxes
578
689
Total current assets
212,201
235,167
PROPERTY, PLANT AND EQUIPMENT, at cost:
Land
21,939
21,696
Buildings
107,567
102,934
Machinery and equipment
322,993
307,178
Construction in progress
2,598
9,243
455,097
440,974
Less—Accumulated depreciation
242,935
225,482
Net property, plant and equipmen.
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Question 5.
“Look how great we are doing,” said Sawyer Mittlestaedt, president of Elliott Company. “Our sales have grown from $1.6 million to $2.0 million this year, we about doubled our warehouse space, and we have more cash in the bank than we started with. A few more years of growth like this and we’ll be tops in the industry.”
“Yes, our statements look pretty good,” replied Endia Bush, the company’s vice president for finance. “But I have concerns that we’re doing business with a lot of companies we don’t know much about. But I do agree, we’re certainly selling a lot of merchandise; our inventory is actually down from last year.”
See statements on next page.
Elliott Company
Comparative Balance Sheets
At December 31, 2015 and 2014
2015
2014
Assets
Current assets:
Cash.
$42,000
$ 27,000
15000 incr
Marketable securities
19,000
13,000
Accounts receivable.
710,000
530,000
Inventory
848,000
860,000
Prepaid expenses
10,000
5,000
Total current assets
1,435,000
1,629,000
Long-term investments
60,000
110,000
Loans to subsidiaries
130,000
80,000
Plant and equipment
3,170,000
2,600,000
Less accumulated depreciation
810,000
755,000
Net plant and equipment
2,360,000
1,845,000
Patents
84,000
90,000
Total assets
$4,263,000
$3,560,000
Liabilities and Stockholders’ Equity
Current liabilities
:
Accounts payable
$ 970,000
$ 670,000
Accrued liabilities
65,000
82,000
Total current liabilities
1,035,000
752,000
Long-term Bonds Payable
820,000
600,000
Notes payable
95,000
80,000
Total liabilities
1,950,000
1,432,000
Stockholders’ equity:
Common stock
1,740,000
1,650,000
Retained earnings .
573,000
478,000
Total stockholders’ equity
2,313,000
2,128,000
Total liabilities and stock
$4,263,000
3,560,000
Elliott’s income statement for 2015 follows
Sales
$2,000,000
Cost of goods sold
1,300,000
Gross profit
700,000
Selling and administrative expenses
490,000
Net operating income
210,000
Nonoperating items:
Gain on sale of investments
$60,000
Loss on sale of equipment.
20,000
40,000
Income before taxes
250,000
Income taxes
80,000
Net income
$ 170,000
The following additional information is available about Elliott’s activities during 2015:
Cash dividends declared and paid to the common stockholders totaled $75,000.
Long-term BONDS with a value of $380,000 were repaid during the year.
Equipment was sold during the year for $70,000. The equipment had cost $130,000 and had $40,000 in accumulated depreciation on the date of sale.
Long-term investments were sold during the year for $110,000. These investments had cost $50,000 when purchased several years ago.
5-1. Ms. Bush asks you to prepare a statement of cash flow (indirect method) for 2015.
5-2. What is Elliott’s free cash flow? Interpret your findings.
5-3. Is Elliott Corp. doing as well as its CEO believes? Discuss.
Question 7.
Thompson Co..
Question 5The financial statements of The Hershey Company and .docx
Question 5
The financial statements of
The Hershey Company
and
Tootsie Roll
are presented below.
THE HERSHEY COMPANY
CONSOLIDATED STATEMENTS OF INCOME
For the years ended December 31,
2011
2010
2009
In thousands of dollars except per share amounts
Net Sales
$6,080,788
$5,671,009
$5,298,668
Costs and Expenses:
Cost of sales
3,548,896
3,255,801
3,245,531
Selling, marketing and administrative
1,477,750
1,426,477
1,208,672
Business realignment and impairment (credits) charges, net
(886
)
83,433
82,875
Total costs and expenses
5,025,760
4,765,711
4,537,078
Income before Interest and Income Taxes
1,055,028
905,298
761,590
Interest expense, net
92,183
96,434
90,459
Income before Income Taxes
962,845
808,864
671,131
Provision for income taxes
333,883
299,065
235,137
Net Income
$628,962
$509,799
$435,994
Net Income Per Share—Basic—Class B Common Stock
$2.58
$2.08
$1.77
Net Income Per Share—Diluted—Class B Common Stock
$2.56
$2.07
$1.77
Net Income Per Share—Basic—Common Stock
$2.85
$2.29
$1.97
Net Income Per Share—Diluted—Common Stock
$2.74
$2.21
$1.90
Cash Dividends Paid Per Share:
Common Stock
$1.3800
$1.2800
$1.1900
Class B Common Stock
1.2500
1.1600
1.0712
The notes to consolidated financial statements are an integral part of these statements and are included in the Hershey's 2011 Annual Report, available at www.thehersheycompany.com.
THE HERSHEY COMPANY
CONSOLIDATED BALANCE SHEETS
December 31,
2011
2010
In thousands of dollars
ASSETS
Current Assets:
Cash and cash equivalents
$693,686
$884,642
Accounts receivable—trade
399,499
390,061
Inventories
648,953
533,622
Deferred income taxes
136,861
55,760
Prepaid expenses and other
167,559
141,132
Total current assets
2,046,558
2,005,217
Property, Plant and Equipment, Net
1,559,717
1,437,702
Goodwill
516,745
524,134
Other Intangibles
111,913
123,080
Deferred Income Taxes
38,544
21,387
Other Assets
138,722
161,212
Total assets
$4,412,199
$4,272,732
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable
$420,017
$410,655
Accrued liabilities
612,186
593,308
Accrued income taxes
1,899
9,402
Short-term debt
42,080
24,088
Current portion of long-term debt
97,593
261,392
Total current liabilities
1,173,775
1,298,845
Long-term Debt
1,748,500
1,541,825
Other Long-term Liabilities
617,276
494,461
Total liabilities
3,539,551
3,335,131
Commitments and Contingencies
—
—
Stockholders’ Equity:
The Hershey Company Stockholders’ Equity
Preferred Stock, shares issued: none in 2011 and 2010
—
—
Common Stock, shares issued: 299,269,702 in 2011 and 299,195,325 in 2010
299,269
299,195
Class B Common Stock.
Question 4The stockholders’ equity section of Tootsie Roll Industr.docx
Question 4
The stockholders’ equity section of Tootsie Roll Industries’ balance sheet is shown in the Consolidated Statement of Financial Position.
(Note that Tootsie Roll has two classes of common stock. To answer the following questions, add the two classes of stock together.)
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
2011
2010
2009
Net product sales
$528,369
$517,149
$495,592
Rental and royalty revenue
4,136
4,299
3,739
Total revenue
532,505
521,448
499,331
Product cost of goods sold
365,225
349,334
319,775
Rental and royalty cost
1,038
1,088
852
Total costs
366,263
350,422
320,627
Product gross margin
163,144
167,815
175,817
Rental and royalty gross margin
3,098
3,211
2,887
Total gross margin
166,242
171,026
178,704
Selling, marketing and administrative expenses
108,276
106,316
103,755
Impairment charges
—
—
14,000
Earnings from operations
57,966
64,710
60,949
Other income (expense), net
2,946
8,358
2,100
Earnings before income taxes
60,912
73,068
63,049
Provision for income taxes
16,974
20,005
9,892
Net earnings
$43,938
$53,063
$53,157
Net earnings
$43,938
$53,063
$53,157
Other comprehensive earnings (loss)
(8,740
)
1,183
2,845
Comprehensive earnings
$35,198
$54,246
$56,002
Retained earnings at beginning of year.
$135,866
$147,687
$144,949
Net earnings
43,938
53,063
53,157
Cash dividends
(18,360
)
(18,078
)
(17,790
)
Stock dividends
(47,175
)
(46,806
)
(32,629
)
Retained earnings at end of year
$114,269
$135,866
$147,687
Earnings per share
$0.76
$0.90
$0.89
Average Common and Class B Common shares outstanding
57,892
58,685
59,425
(The accompanying notes are an integral part of these statements.)
CONSOLIDATED STATEMENTS OF
Financial Position
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data)
Assets
December 31,
2011
2010
CURRENT ASSETS:
Cash and cash equivalents
$78,612
$115,976
Investments
10,895
7,996
Accounts receivable trade, less allowances of $1,731 and $1,531
41,895
37,394
Other receivables
3,391
9,961
Inventories:
Finished goods and work-in-process
42,676
35,416
Raw materials and supplies
29,084
21,236
Prepaid expenses
5,070
6,499
Deferred income taxes
578
689
Total current assets
212,201
235,167
PROPERTY, PLANT AND EQUIPMENT, at cost:
Land
21,939
21,696
Buildings
107,567
102,934
Machinery and equipment
322,993
307,178
Construction in progress
2,598
9,243
455,097
440,974
Less—Accumulated depreciation
242,935
225,482
Net property, plant and equipment
.
Question 8The contract interest rate for bondsA.must.docx
Question
8:
The contract interest rate for bonds:
A.
must equal the effective interest rate.
B.
is greater than the effective interest rate when bonds are issued at a premium.
C.
has no relation to the cash flow associated with a particular bond.
D.
will fluctuate over the life of a bond.
E.
None of these.
Question
9:
Frick Corporation issued $100,000 of 7%, 15-year bonds on June 1, 2014 (dated April 1 2014) at 101 plus accrued interest, which is paid on April 1 and October 1.
The proper entry to record issuance of the bonds includes a debit to Cash for:
a.
$100,000.
b.
$101,000.
c.
$101,167.
d.
$102,167.
e.
None of these.
Question
10:
Which of the following statements about treasury stock is true?
a.
Excess of the sales price over cost should be credited to retained earnings.
b.
Gains are not recorded on treasury stock transactions but losses are.
c.
Losses on treasury stock transactions are recorded in income.
d.
Reacquiring treasury stock causes stockholders equity to decrease.
e.
None of these.
Question
11:
Frick Company has 100,000 shares of common stock outstanding. On April 15, the board declared a $.30 dividend to be paid to stockholders of record on May 4.
The dividend was distributed on May 15.
The proper journal entry for Frick Company on May 15 does not include:
a.
a credit to Dividends Payable for $30,000.
b.
a debit to Dividends for $30,000.
c.
a credit to Cash for $30,000.
d.
Both A and B, above.
e.
None of these.
Acct221
Page 4 of 8
Question
12:
In an effort to concentrate its resources in more profitable areas, Frick Corporation recently sold its family pizza restaurant segment.
The disposal constitutes:
a.
an extraodinary item.
b.
a discontinued operation which should be treated as a prior period adjustment.
c.
a discontinued operation which should be disclosed net-of-tax effects.
d.
a portion of income from continuing operations.
e.
None of these.
Question
13:
Frick Corporation has 100,000, 5%, $100 par preferred shares outstanding.
The stock is callable at 102, but was originally issued at 99.
The current dividend has been fully paid.
Total stockholders' equity is $20,000,000.
The residual common equity is:
a.
$20,000,000
b.
$10,100,000
c.
$10,000,000
d.
$9,800,000
e.
None of these.
Question
14:
Frick Company's balance sheet included cash ($4,000,000), accounts receivable ($16,000,000), inventories ($10,000,000), prepaid expenses ($2,000,000), accounts payable ($9,000,000), and accrued expenses ($7,000,000).
These are the only current items.
a.
The quick ratio is 2:1.
b.
The quick ratio is 1.25:1.
c.
The current ratio is 1.875:1.
d.
Both A and C.
e.
None of these.
Question
15:
Selected information for 2014 is: cost of goods sold, $5,400,000; average inventory, $1,800,000; net sales, $7,200,000; average receivables, $960,000; and net income, $720,000.
Assuming a 360-day year, what was the inventory turnover ratio for 2014?
a.
333
b.
3
c.
7.5
d.
20
e.
QUESTION 3A.RetributionB.IncapacitationC.D.docx
QUESTION 3
A.
Retribution
B.
Incapacitation
C.
Determinate Sentencing
D.
Deterrence
E.
Rehabilitation
F.
Restoration
G.
Indeterminate Sentencing
14 points
2 points
.
Question 2A group working at the University of California, Berke.docx
Question 2
A group working at the University of California, Berkeley has developed “nanothermometers,” little nanoparticles that can be injected into cells to measure the temperature in various places in the cell. So far, it has been used in cells growing in a culture dish.
Indicate what you think the group will discover about the temperature in different parts of the cell. Discuss whether you believe it will be the same or different, and explain why.
.
Question 6.docx
Question 6
A.
The tendency to view all things from one’s own perspective, even when there is evidence against one’s position.
B.
Thinking for oneself rather than uncritically accepting the views of others.
C.
Striving to create disciplined thinking as well as holding oneself to the same standards that one holds others to.
D.
The failure to hold oneself to the same intellectual standards that one holds others to.
E.
The tendency to passively accept the views of others and agree with mass positions on issues.
F.
The fear of considering ideas that do not match our own.
G.
The art of thinking about one’s thinking with the goal of improving thinking.
H.
The tendency to think that the world is a better place when people learn to think for themselves, when they draw reasonable conclusions, and when they think logically.
I.
Awareness of the limits of human knowledge and a special focus on being aware of situations in which one is likely to be self-deceived due to native egocentrism.
J.
The tendency to give up the search for truth or understanding when difficult circumstances arise.
K.
The ability to push on in the face of intellectual adversity in order to understand more about the truth of an issue or idea.
L.
The willingness to face ideas and positions on issues that directly threaten our own ideas and beliefs.
M.
The tendency of the human mind to think that it knows more than it does, or that is in possession of the TRUTH.
N.
The tendency to feel threatened by logical thinking and scientific explanation, often the result of fear or the pain involved in analyzing one’s beliefs.
O.
The tendency to ignore other people’s ideas, thought, and feelings because their ideas do not address that with which one is interested.
NEED THIS IN ONE HOUR
.
Question 6.6. Mariel hires Andrew as manager of her sporting goo.docx
Question 6.
6.
Mariel hires Andrew as manager of her sporting goods store. Nothing is said to Andrew about hiring other employees, but the store is understaffed, so Andrew hires two clerks. Andrew has what type of authority to hire the clerks? (Points : 1)
[removed] Actual authority
[removed] Apparent authority
[removed] Ratified authority
[removed] No authority
.
Question 6 Outline the business reasons to limiting monito.docx
Question 6
Outline the business reasons to limiting monitoring.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Course Textbook
Hartman, L. P., DesJardins, J., & MacDonald, C. (2014).
Business ethics: Decision making for personal integrity & social responsibility
(3rd ed.). New York, NY: McGraw-Hill.
.
Question 6 (1 point)The full child tax credit is available to .docx
Question 6 (1 point)
The full child tax credit is available to unmarried taxpayers whose AGI does not exceed:
$55,000.
$11,000.
$75,000.
$150,000.
$125,000.
Question 7 (1 point)
For tuition expenses paid during the year for a student attending graduate school, an education credit is available that is equal to:
100% of up to $2,500 of such expenses.
20% of up to $2,500 of such expenses.
20% of up to $10,000 of such expenses.
50% of up to $10,000 of such expenses.
$2,000 plus 25% of the next $2,000 of such expenses.
Question 8 (1 point)
The maximum child and dependent care credit that a married couple with three qualifying children can claim is:
Question 8 options:
$2,100.
$1,800.
$3,150.
$1,200.
$2,400.
Question 9 (1 point)
The additional child tax credit is claimed on:
Question 9 options:
Form 2441.
Schedule 8812.
Form 8863.
Schedule EIC.
Form 1116.
Question 10 (1 point)
Which of the following taxpayers cannot file Form 1040EZ?
A taxpayer with more than $99,999 of taxable income
A taxpayer receiving unemployment compensation
A taxpayer with taxable scholarship income
None of the above taxpayers can file Form 1040EZ
All of the above taxpayers can file Form 1040EZ
Question 16 (1 point)
John pays his former wife Rose $3,100 in alimony and $400 in child support each month. Assuming John makes all 12 payments during the year, how much of the $42,000 must Rose include in gross income:
$37,200.
$42,000.
$4,800.
$0.
None of the above.
Question 17 (1 point)
As part of their divorce agreement, Harry transfers to Mary, his former spouse, GM stock with a market value of $30,000. Harry had $20,000 invested in the stock. How does this transfer affect Harry, and what is Mary's basis in the stock?
Harry has no gain or loss, and Mary's basis is $20,000.
Harry has no gain or loss, and Mary's basis is $30,000.
Harry has a gain of $10,000, and Mary's basis is $20,000.
Harry has a gain of $10,000, and Mary's basis is $30,000.
None of the above.
Question 18 (1 point)
Employees are required to report the amount of tips they receive to their employer when their tips for the month exceed:
$0.
$20.
$25.
$100.
None of the above.
Question 19 (1 point)
On January 1, 2014, Ron pays $92,550 for corporate bonds that have a $100,000 face value. The bonds were originally issued 10 years earlier for $94,660. Prior to January 1, 2014, the previous owner had included $3,100 of original issue discount (OID) in gross income. The amount of Ron's market discount on the bonds is:
$2,110.
$7,450.
$5,340
$5,210.
$4,350.
Question 20 (1 point)
In computing the taxable amount of social security benefits, the (first-tier) base amount for a married person who files jointly with her spouse is:
$0.
$16,000.
$25,000.
$32,000.
$50,000.
.
Question 2 of 205.0 PointsPopper’s demarcation criterion of fals.docx
Question 2 of 20
5.0 Points
Popper’s demarcation criterion of falsifiability runs into two difficulties. One of which is:
[removed]
A. historical Zeitgeists.
[removed]
B. scientific theories actually compete with each other as well as with nature.
[removed]
C. it does not agree with the nomological approach.
[removed]
D. fulfilling all your desires without exception.
Question 3 of 20
5.0 Points
In the Hempel and Oppenheim covering-law model of explanation, explanation is basically the same as:
[removed]
A. understanding.
[removed]
B. control.
[removed]
C. prediction.
[removed]
D. superstition.
Question 4 of 20
5.0 Points
Who was the Archaic Greek Philosopher that in essence told his student, “This is how I see things- how I believe things are. Try to improve upon my teaching.”
[removed]
A. Leahey
[removed]
B. Achilles
[removed]
C. Elgin Marbles
[removed]
D. Thales
Question 5 of 20
5.0 Points
According to Thomas Kuhn, most eras in science are dominated by a single
Weltanschauung
called a(n):
[removed]
A. Gestalt.
[removed]
B. research plan.
[removed]
C. paradigm.
[removed]
D. axiom set.
Question 6 of 20
5.0 Points
Like Wittgenstein, the
Weltanschauung
approach to science views science as being:
[removed]
A. essentially rational.
[removed]
B. engaged in the search for truth.
[removed]
C. based on models of nature.
[removed]
D. a form of life.
Question 7 of 20
5.0 Points
In a Kuhn’s view of science, what provides scientists with a blueprint and foundation for scientific enterprises?
[removed]
A. The covering law
[removed]
B. The falsification test
[removed]
C. Anomalies
[removed]
D. A paradigm
Question 8 of 20
5.0 Points
The thesis that unobserved, theoretically postulated entities actually exist is called:
[removed]
A. instrumentalism.
[removed]
B. realism.
[removed]
C. unificationism.
[removed]
D. positivism.
Question 9 of 20
5.0 Points
The most important Greek moral value was
sophrosyne
, which meant:
[removed]
A. finding your true inner personality by asking family to help you.
[removed]
B. fulfilling all your desires without exception.
[removed]
C. private contemplation of the gods.
[removed]
D. self control, the kind that springs from wisdom.
Question 10 of 20
5.0 Points
Imagine the author of a History of Psychology textbook (known as book X) devotes a single chapter to “The Great Men of Psychology.” In contrast, the author of your textbook has sought to place psychology within larger social and historical patterns. One could argue that your history of psychology text represents an example of __________ while text book (X) represents a more __________ dimension.
[removed]
A. externalism; internal
[removed]
B. internalism; external
[removed]
C. a nomological perspective; semantic
[removed]
D. naturalism; deductive
Question 11 of 20
5.0 Points
The "New History" criticizes the "Old History" for:
[removed]
A. presenting history "from below."
[rem.
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https://chat.whatsapp.com/JVakNIYlSV94x7bwunO3Dc
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Supporting (UKRI) OA monographs at Salford.pptx
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Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Event Link:-
https://meetups.mulesoft.com/events/details/mulesoft-mysore-presents-exploring-gemini-ai-and-integration-with-mulesoft/
Agenda
● Java 17 Upgrade Overview
● Why and by when do customers need to upgrade to Java 17?
● Is there any immediate impact to upgrading to Mule Runtime 4.6 and beyond?
● Which MuleSoft products are in scope?
For Upcoming Meetups Join Mysore Meetup Group - https://meetups.mulesoft.com/mysore/
YouTube:- youtube.com/@mulesoftmysore
Mysore WhatsApp group:- https://chat.whatsapp.com/EhqtHtCC75vCAX7gaO842N
Speaker:-
Shubham Chaurasia - https://www.linkedin.com/in/shubhamchaurasia1/
Priya Shaw - https://www.linkedin.com/in/priya-shaw
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Shubham Chaurasia - https://www.linkedin.com/in/shubhamchaurasia1/
Giridhar Meka - https://www.linkedin.com/in/giridharmeka
Priya Shaw - https://www.linkedin.com/in/priya-shaw
Shyam Raj Prasad-
https://www.linkedin.com/in/shyam-raj-prasad/
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Question 12ptsA decrease in the price level will lead to.docx
- 1. Question 1 2 pts A decrease in the price level will lead to A decrease in the price level will lead to Flag this Question Question 2 2 pts A monopolistically competitive market differs from a perfectly competitive market in that a monopolistically competitive market has A monopolistically competitive market differs from a perfectly competitive market in that a monopolistically competitive market has Flag this Question Question 3 2 pts Which of the following would shift the aggregate demand curve to the left? Which of the following would shift the aggregate demand curve to the left? Flag this Question Question 4 2
- 2. pts Which of the following would NOT shift the aggregate demand curve to the left? Which of the following would NOT shift the aggregate demand curve to the left? Flag this Question Question 5 2 pts In the mid 1990s, monthly inflation in Yugoslavia peaked at In the mid 1990s, monthly inflation in Yugoslavia peaked at Flag this Question Question 6 2 pts An important difference between Keynes's approach to the demand for money and Friedman's approach is that An important difference between Keynes's approach to the demand for money and Friedman's approach is that Flag this Question Question 7 2 pts Keynes assumed that the expected return on bonds is determined by
- 3. Keynes assumed that the expected return on bonds is determined by Flag this Question Question 8 2 pts Inflation that is higher than expected redistributes wealth from Inflation that is higher than expected redistributes wealth from Flag this Question Question 9 2 pts According to the real business cycle model, changes in the money supply will affect economic activity According to the real business cycle model, changes in the money supply will affect economic activity Flag this Question Question 10 2 pts In the new Keynesian view, which of the following expressions correctly states the relationship between the price that an individual firm with sticky prices charges and the aggregate price level? In the new Keynesian view, which of the following expressions correctly states the relationship between the price that an individual firm with sticky prices charges and the aggregate
- 4. price level? Flag this Question Question 11 2 pts According to new Keynesians, which of the following is NOT an important source of price stickiness? According to new Keynesians, which of the following is NOT an important source of price stickiness? Flag this Question Question 12 2 pts Government budget deficits can be inflationary in the long run only if they Government budget deficits can be inflationary in the long run only if they Flag this Question Question 13 2 pts Economists who back the use of rules by the Fed believe that they would result in Economists who back the use of rules by the Fed believe that they would result in Flag this Question
- 5. Question 14 2 pts The reason that the U.S. economy has experienced long-term inflation since World War II is The reason that the U.S. economy has experienced long-term inflation since World War II is Flag this Question Question 15 2 pts Demand-pull inflation results from Demand-pull inflation results from Flag this Question Question 16 2 pts The Federal Reserve pursued an expansionary monetary policy during 1964 in order to The Federal Reserve pursued an expansionary monetary policy during 1964 in order to Flag this Question Question 17 2 pts Milton Friedman and Anna Schwartz believe that money's
- 6. impact on output appears Milton Friedman and Anna Schwartz believe that money's impact on output appears Flag this Question Question 18 2 pts If the quantity of money is $4 trillion and nominal GDP is $8 trillion, velocity is If the quantity of money is $4 trillion and nominal GDP is $8 trillion, velocity is Flag this Question Question 19 2 pts The key reason that expected inflation can distort financial decisions is that The key reason that expected inflation can distort financial decisions is that Flag this Question Question 20 2 pts What action did Milosevic take that led to hyperinflation in Yugoslavia in the mid 1990s? What action did Milosevic take that led to hyperinflation in
- 7. Yugoslavia in the mid 1990s? Flag this Question Question 21 2 pts Which of the following statements is correct concerning the views of new Keynesians and new classicals concerning aggregate supply? Which of the following statements is correct concerning the views of new Keynesians and new classicals concerning aggregate supply? Flag this Question Question 22 2 pts An increase in the money supply will tend to raise stock prices and An increase in the money supply will tend to raise stock prices and Flag this Question Question 23 2 pts If nominal money balances increase from $2 billion to $3 billion, while the price level increases from 100 to 150, real money balances will If nominal money balances increase from $2 billion to $3
- 8. billion, while the price level increases from 100 to 150, real money balances will Flag this Question Question 24 2 pts Which of the following statements is correct? Which of the following statements is correct? Flag this Question Question 25 2 pts If the expected price level increases at the same time that the federal government cuts taxes, in the short run If the expected price level increases at the same time that the federal government cuts taxes, in the short run Flag this Question Question 26 2 pts Why has the Fed made low inflation a major goal in recent decades? Why has the Fed made low inflation a major goal in recent decades? Flag this Question Question 27
- 9. 2 pts In the new classical view, if the Chairman of the Fed announces a 10% increase in the money supply and then takes actions that cause the money supply to grow by more than 10%, the result will be In the new classical view, if the Chairman of the Fed announces a 10% increase in the money supply and then takes actions that cause the money supply to grow by more than 10%, the result will be Flag this Question Question 28 2 pts Which of the following is the correct expression of the equation of exchange? Which of the following is the correct expression of the equation of exchange? Flag this Question Question 29 2 pts Deflation occurs when Deflation occurs when Flag this Question Question 30 2
- 10. pts According to the new classical approach to the aggregate supply curve, the aggregate supply curve slopes upward because According to the new classical approach to the aggregate supply curve, the aggregate supply curve slopes upward because Flag this Question Question 31 2 pts According to Keynes, the demand for real balances is best expressed by which of the following equations? According to Keynes, the demand for real balances is best expressed by which of the following equations? Flag this Question Question 32 2 pts The tendency of individuals to hold money to pay for unexpected transactions is known as The tendency of individuals to hold money to pay for unexpected transactions is known as Flag this Question Question 33 2 pts At the natural rate of unemployment,
- 11. At the natural rate of unemployment, Flag this Question Question 34 2 pts Which of the following is a correct characterization of the views of economists on the relation between changes in the money supply and changes in output in the short run? Which of the following is a correct characterization of the views of economists on the relation between changes in the money supply and changes in output in the short run? Flag this Question Question 35 2 pts The effects of interest rates on the transactions demand for money The effects of interest rates on the transactions demand for money Flag this Question Question 36 2 pts The volume of transactions is The volume of transactions is
- 12. Flag this Question Question 37 2 pts In the Baumol-Tobin view, a decrease in interest rates will cause individuals to hold In the Baumol-Tobin view, a decrease in interest rates will cause individuals to hold Flag this Question Question 38 2 pts According to Keynes, if the interest rate on bond falls, but aggregate income doesn't change, According to Keynes, if the interest rate on bond falls, but aggregate income doesn't change, Flag this Question Question 39 2 pts If wages and prices in long-term contracts were fully indexed, If wages and prices in long-term contracts were fully indexed, Flag this Question Question 40 2 pts
- 13. When economists state that in the long run prices are flexible they mean that When economists state that in the long run prices are flexible they mean that Flag this Question Question 41 2 pts In the new Keynesian approach, an increase in the nominal money supply In the new Keynesian approach, an increase in the nominal money supply Flag this Question Question 42 2 pts Real money balances equal Real money balances equal Flag this Question Question 43 2 pts An increase in the money supply will result in a lower exchange rate because An increase in the money supply will result in a lower exchange rate because
- 14. Flag this Question Question 44 2 pts In the period since 1914, In the period since 1914, Flag this Question Question 45 2 pts In the new Keynesian view, the larger the proportion of firms in the economy with sticky prices, In the new Keynesian view, the larger the proportion of firms in the economy with sticky prices, Flag this Question Question 46 2 pts In terms of the AD-AS model, the new classical approach indicates that an unexpected decrease in the money supply will affect output because it will cause In terms of the AD-AS model, the new classical approach indicates that an unexpected decrease in the money supply will affect output because it will
- 15. cause Flag this Question Question 47 2 pts In the new Keynesian expression for the price level, c represents In the new Keynesian expression for the price level, c represents Flag this Question Question 48 2 pts Which of the following statements is correct? Which of the following statements is correct? Flag this Question Question 49 2 pts If nothing else changes, a higher price level If nothing else changes, a higher price level Flag this Question Question 50
- 16. 2 pts Sustained inflation will be caused by a sustained growth in the nominal money supply at a rate faster than the growth rate of velocity and the growth rate of output according to Sustained inflation will be caused by a sustained growth in the nominal money supply at a rate faster than the growth rate of velocity and the growth rate of output according to