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CHAPTER 13 EXCHANGE-RATE DETERMINATION MULTIPLE-CHOICE QUESTIONS 1. The relationship between the exchange rate and the prices of tradable goods is known as the: a. Purchasing-power-parity theory b. Asset-markets theory c. Monetary theory d. Balance-of-payments theory 2. If the exchange rate between Swiss francs and British pounds is 5 francs per pound, then the number of pounds that can be obtained for 200 francs equals: a. 20 pounds b. 40 pounds c. 60 pounds d. 80 pounds 3. Low real interest rates in the United States tend to: a. Decrease the demand for dollars, causing the dollar to depreciate b. Decrease the demand for dollars, causing the dollar to appreciate c. Increase the demand for dollars, causing the dollar to depreciate d. Increase the demand for dollars, causing the dollar to appreciate 4. High real interest rates in the United States tend to: a. Decrease the demand for dollars, causing the dollar to depreciate b. Decrease the demand for dollars, causing the dollar to appreciate c. Increase the demand for dollars, causing the dollar to depreciate d. Increase the demand for dollars, causing the dollar to appreciate 211 212 Test Bank for International Economics, 9e 5. Assume that the United States faces an 8 percent inflation rate while no (zero) inflation exists in Japan. According to the purchasing-power-parity theory, the dollar would be expected to: a. Appreciate by 8 percent against the yen b. Depreciate by 8 percent against the yen c. Remain at its existing exchange rate d. None of the above 6. In the presence of purchasing-power parity, if one dollar exchanges for 2 British pounds and if a VCR costs $400 in the United States, then in Great Britain the VCR should cost: a. 200 pounds b. 400 pounds c. 600 pounds d. 800 pounds 7. If wheat costs $4 per bushel in the United States and 2 pounds per bushel in Great Britain, then in the presence of purchasing-power parity the exchange rate should be: a. $.50 per pound b. $1.00 per pound c. $2.00 per pound d.d.

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Utah State - ECON - 3400

CHAPTER 14BALANCE-OF-PAYMENTS ADJUSTMENTS UNDERFIXED EXCHANGE RATESMULTIPLE-CHOICE QUESTIONS1. Which of the following does not represent an automatic adjustment in balance-of-payments disequilibrium?Variations in:a.Domestic incomeb.Foreign prices

Utah State - ECON - 3400

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Utah State - ECON - 3400

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Utah State - ECON - 3400

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Utah State - ECON - 3400

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Monash - BUS - 3230

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Monash - BUS - 3230

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UNO - FIN - 252

UNO - FIN - 252

UNO - FIN - 252

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UNO - FIN - 252

Chapter 3 Homework Problem Solutions3.6 Cash Collections from customers = sales - bad debt exp - change in accts receivables= $30,251 - $4,321 = $25,9303.7 Cash payment to suppliers = COGS - change in inventory + change in accts payable= -24,165 - 139

UNO - FIN - 252

GTI Inc.Statement of Cash Flows(000's)Year 9 Year 8Cash flow from operationsNet incomeDepreciationAmortizationAccounts ReceivabeInventoriesPrepaymentsAccounts PayableOther Current LiabilitiesDeferred TaxesNet cash provided/used in operations

UNO - FIN - 252

GTI, INC.WORKSHEET FOR STATEMENT OF CASH FLOWSYEAR 8 (000'S)CASHACC/RECINVENTORIESPREPAYMENTSP,P & E netOTHER ASSETSTOTAL ASSETSACCOUNTS PAYABLENOTES PAYABLEOTHER CURRENT LIAB.LONG-TERM DEBTDEFERRED TAXESPREFERRED STOCKCOMMON STOCKPAID-IN

UNO - FIN - 252

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UNO - FIN - 252

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UNO - FIN - 252

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UNO - FIN - 252

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UNO - FIN - 252

A firm has the following balance sheet accounts:Cash20Marketable securities15Accounts receivable40Inventory75Current assets150Current liabilities1041. What is the firm's current ratio?1.44232. What is the firm's quick ratio?0.72123. What

UNO - FIN - 252

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UNO - FIN - 252

Profitability and Risk AnalysisIf current ratio > 1: A decrease of equal to CA + CL will cause CR toincrease.An increase of equal amount will cause CR to decrease.If current ratio < 1: A decrease of equal amounts to both CA + CL willcause CR to decre

NYU - ECON - Econ UA-18

BASIC PROBABILITYERCAN KARADASContents1. Probability PostulatesIn the previous section we have seen how to dene the sample space for anexperiment, and we have talked about what we mean by an event dened on asample space . In this section, we will be

NYU - ECON - Econ UA-18

PROBLEM SET 1ERCAN KARADAS(To be handed in at the beginning of the class, July 9)(1) Suppose that you have data on Education and annual Family Income of 10individuals:(a) Show the data in a scatter-plot chart.(b) Calculate variance for both Educatio

NYU - ECON - Econ UA-18

PROBLEM SET 2ERCAN KARADAS(To be handed in at the beginning of the class, July 16.Randomly chosen two problem will be graded)(1) Consider the following experiment: Suppose that I brought a dart board tothe class, and I started to play with one you th

NYU - ECON - Econ UA-18

PROBLEM SET 3ERCAN KARADAS(To be handed in at the beginning of the class, July 23.Randomly chosen two problem will be graded)(1) A contractor estimates the probabilities for the number of days required tocomplete a certain type of construction projec

NYU - ECON - Econ UA-18

PROBLEM SET 3ERCAN KARADAS(To be left to the box in front of my oce at or before 5pm, Friday-July 20. Myoce is at 19 West 4th, 7th oor, room 717.Randomly chosen two problem will be graded)(1) A contractor estimates the probabilities for the number of

NYU - ECON - Econ UA-18

PROBLEM SET 4ERCAN KARADASTo be handed in at the beginning of the class, July 30.(Randomly chosen two problem will be graded)(1) It is estimated that the time that a well-known rock band, the LivingIngrates, spends on stage at its concerts follow a n

NYU - ECON - Econ UA-18

PROBLEM SET 5ERCAN KARADASTo be handed in at the beginning of the class, August 6.(Randomly chosen two problem will be graded)(1) (7.3) A random sample of 10 economists produced the following forecastsfor percentage growth in real domestic product in

NYU - ECON - Econ UA-18

PROBLEM SET 1SOLUTIONSERCAN KARADAS(To be handed in at the beginning of the class, July 9)(1) Suppose that you have data on Education and annual Family Income of 10individuals:(a) Show the data in a scatter-plot chart.(b) Calculate variance for bot

NYU - ECON - Econ UA-18

PROBLEM SET 2SOLUTIONSERCAN KARADAS(To be handed in at the beginning of the class, July 16.Randomly chosen two problem will be graded)(1) Sample space for a dart game with 10 possible scores.In this type of questions it is useful rst try to give an

NYU - ECON - Econ UA-18

PROBLEM SET 3SOLUTIONSERCAN KARADAS(To be left to the box in front of my oce at or before 5pm, Friday-July 20. Myoce is at 19 West 4th, 7th oor, room 717.Randomly chosen two problem will be graded)(1) Let us dene a random variable X as the number of

NYU - ECON - Econ UA-18

SOLVED PROBLEMSERCAN KARADAS(1) Three distinct integers are chosen at random from the rst 20 positiveintegers. Compute the probability that(a) their sum is even(b) their product is evenSolution(a) Sum of three integers is even if and only if all of

NYU - ECON - Econ UA-18

ALGEBRA OF SETSERCAN KARADASRemember we discussed in the rst lecture that one of the main goal in statistics is to draw conclusions about a populations of objects by looking at someappropriately chosen sample. The process of obtaining information from

NYU - ECON - Econ UA-18

GEOMETRIC MEANERCAN KARADASConsider the following question:What is the average growth rate of sales if sales have grown 25% over the last 5years.You might tempt to say the answer is 5% simply by dividing total increase insales to the number of years

NYU - ECON - Econ UA-18

Math 361, Problem Set 2September 17, 2010Due: 9/13/101. (1.3.11) A bowl contains 16 chips, of which 6 are red, 7 are white and 3 are blue.If four chips are taken at random and without replacement, find the probabilitythat(a) each of the 4 chips is r

NYU - ECON - Econ UA-18

Math 361, Problem Set 2September 17, 2010Due: 9/13/101. (1.3.11) A bowl contains 16 chips, of which 6 are red, 7 are white and 3are blue. If four chips are taken at random and without replacement, ndthe probability that(a) each of the 4 chips is red

NYU - ECON - Econ UA-18

Danny SantanaStatistics Summer 2012Problem Set #2Ercan Karadas1A.) S = cfw_ (x1, y1), (x2,y2), , (x5,y5) : xi,yi cfw_1, 2, , 10; i = 1, 2, , 5.1B.) A1 = cfw_ (2,4), (5,6), (7,4), (4,4), (9,8) ; A2 = cfw_ (2,4), (5,6), (7,4), (4,4), (9,8),(3,5), (2,6

NYU - ECON - Econ UA-18

Chapter 3:Probability3.1A is the complement of event A and contains all of the samples pointsthat are not in event A. Therefore, A = (E2, E4, E5, E7, E8, E10)3.2a. A intersection B contains the sample points that are in both A and B.The intersectio

NYU - ECON - Econ UA-18

PROBLEM SET 2ERCAN KARADAS(To b e handed in at the beginning of the class, July 16.Randomly chosen two problem will be graded)(1) Consider the following exp eriment: Suppose that I brought a dart board to the class,and I started to play with one you

NYU - ECON - Econ UA-18

Chapter 1:Describing Data: Graphical1.1 a. Numerical discrete. The number comes from a counting process. b. Numerical discrete. Since the response is an actual cost, it is discrete because the value comes from a counting process. c. Numerical discrete.

NYU - ECON - Econ UA-18

Chapter 2:Describing Data: Numerical2.1 Cruise agency number of weekly specials to the Caribbean: 20, 73, 75, 80, 82 a. Compute the mean, median and mode x 330 x = i = = 66 n 5 median = middlemost observation = 75 mode = no unique mode exists b. The med

NYU - ECON - Econ UA-18

Chapter 3:Probability3.1 3.2A is the complement of event A and contains all of the samples points that are not in event A. Therefore, A = (E2, E4, E5, E7, E8, E10) a. A intersection B contains the sample points that are in both A and B. The intersectio

NYU - ECON - Econ UA-18

Chapter 4:Discrete Random Variables and Probability Distributions4.1 Daily computer sales is a discrete random variable that can take on no more than a countable number of values 4.2 The number of defective parts produced in daily production is a discre

NYU - ECON - Econ UA-18

Chapter 5:Continuous Random Variables and Probability Distributions5.1 P(1.4 < X < 1.8) = F(1.8) F(1.4) = (.5)(1.8) (.5)(1.4) = 0.20 5.2 P(1.0 < X < 1.9) = F(1.9) F(1.0) = (.5)(1.9) (.5)(1.0) = 0.45 5.3 P(X < 1.4) = F(1.4) = (.5)(1.4) = 0.7 5.4 P(X > 1.

NYU - ECON - Econ UA-18

Chapter 6:Sampling and Sampling Distributions6.1a. Probability distribution for one die: Die outcome 1 2 3 4 5 6Probability 1/6 1/6 1/6 1/6 1/6 1/6b. Sampling distribution of the sample means from rolling a pair of dice: x Total Sample Prob. of x 2 1

NYU - ECON - Econ UA-18

Chapter 7:Estimation: Single Population7.1a. Check for nonnormalityThe distribution shows no significant evidence of nonnormality. b. Point estimate of the population mean that is unbiased, efficient and consistent. X 560 Unbiased point estimator is t

NYU - ECON - Econ UA-18

Chapter 8:Estimation: Additional Topics8.1a. Find the 95% confidence interval for the difference in means s 2.8 d tn 1, 2 d = 25.4 2.145 = 23.8493 up to 26.9507 nd 15 b. Find the margin of error for a 95% confidence interval s 2.8 ME = tn 1, 2 d = ME =

NYU - ECON - Econ UA-18

Chapter 9:Hypothesis Testing: Single Population9.1 9.2H : p .2; H : p < .2;0 1H H: No change in interest rates is warranted : Reduce interest rates to stimulate the economy 10 0 A9.3H :pp pB: There is no difference in the percentage of underfi

NYU - ECON - Econ UA-18

Chapter 10:Hypothesis Testing: Additional Topics10.1 n = 25 paired observations with sample means of 50 and 60 for populations 1 and 2. Can you reject the null hypothesis at an alpha of .05 if a. sd = 20, H 0 : 1 2 = 0; H 1 : 1 2 > 0; 10 0 t= = 2.500, p

NYU - ECON - Econ UA-18

Chapter 11:Simple Regression11.1a. Prepare a scatter plot.Cov ( x, y ) 3.25 = = 0.65 2 5 sx c. Compute b0 = y b1 x = 7 0.65(4) = 4.4 b. Compute b1 = xi1 3 4 5 7 20y i ( xi x ) ( xi x ) 2 ( y i y ) ( y i y ) 2 ( xi x ) ( y i y )5 7 6 8 9 35 -3 -1 0

NYU - ECON - Econ UA-18

Chapter 12:Multiple Regression 12.1 Given the following estimated linear model: y = 10 + 3 x1 + 2 x2 + 4 x3 a. y = 10 + 3(20) + 2(11) + 4(10) = 132 b. y = 10 + 3(15) + 2(14) + 4(20) = 163 c. y = 10 + 3(35) + 2(19) + 4(25) = 253 d. y = 10 + 3(10) + 2(17)

NYU - ECON - Econ UA-18

Chapter 13:Additional Topics in Regression Analysis13.1Yi = 0 + 1 X 1i + 2 X 2i + 3 X 3i + 4 X 4i + i where Yi = College GPA X1 = SAT score X2 = 1 for sophomore, 0 otherwise X3 = 1 for junior, 0 otherwise X4 = 1 for senior, 0 otherwise The excluded cat

NYU - ECON - Econ UA-18

Chapter 14:Analysis of Categorical Data14.1 H 0 : first preferences are evenly distributed across the three books. H1 : otherwiseBook Observed Number Probability (Ho) Expected Number Chi-square calculation Made Easy 17 0.333 20 0.45 Without Tears Profi