UTSC:
ECM C48 Midterm WINTER 2011: Solutions
Question 1. (20 Marks)
SOLUTION:
A)
The 3 functions of money. (6 marks 2 marks each)
1. Medium of Exchange (means of exchange):
Without money, we would have to exchange goods and services directly through what
UTSC:
ECM C48 Midterm  SPRING 2010
Question 1. (20 Marks)  SOLUTION:
A)
(5 marks)
Transaction costs represent the cost of the time and money spent in carrying out
financial transactions (could be a major problem for individuals who have excess funds
to
ECM C48 SAMPLE MIDTERM EXAM: Solutions
UTSC:
Question 1. (15 Marks)
SOLUTION:
A)
As covered in class the impacts of rising interest rates on bonds with different
maturities when all bonds are purchased at par are:
i)
the only bond whose return equals the
Question 5. (15 Marks)
A)
If all overnight market participants were Canadian Payments Association (CPA) members then
clearly the overnight interest rate must fluctuate within the operating band (i.e. even without
further direct intervention by the BOC). T
2
UTSC:
MGE C71 Midterm SUMMER 2013:
Solutions
Question 1. (20 Marks)
SOLUTION:
A)
iB and iL
DEAD WEIGHTLOSS
(for society)
LFS
iB
i*
Without perfect competition less
than the Optimal amount of LF (or
LF*) is transferred through the
financial system
iL= id
ECM C48: FALL 2012  SOLUTIONS
2
Question 1. (20 Marks)  Solution
A)
(5 marks 4 marks for 2 part definition & 1 mark for good explanation
of what makes money different)
Money is any asset that simultaneously has 3 key properties. It is:
1. A Store of Val
1
MGEB02H FIRST MIDTERM ANSWERS AND EXERCISES
These notes provide solutions to the First Midterm, so that you can check your
work. There were 2 versions of the Midterm: Version Is cover page has the page number in
the bottom centre, while Version IIs cove
ECMA06 Introduction to Macroeconomics: A Mathematical Approach
Midterm,
Winter 2012
Version A
Date & Time: Saturday, March 3, 2012, 9:00am
10:30am Instructor: Iris Au
Aids Allowed: Nonprogrammable
calculator Time Allowed: 90 minutes
Total number of page
Economics Review
LECTURE ONE
Factors of production
Land natural resources
Labour workers; unskilled or skilled
Capital equipment; productive resources that
create goods and services Scarcity leads us to make
economic choices since there is completing
Wee k 1

7.6% une m ploy men t ra te in Canada curren tl y

Une mploy men t ra te is never nega tive or zero

Une mploy men t ra te is no t constan t; changes fro m ti me to ti m e.
Question: Why unemployment rate wi l l never be zero?
Answer: There ar
Chapter 16
Simulation
Case Problem 1: TriState Corporation
With the specific financial analysis data input into cells D3:D8, the formulas used to develop the portfolio
projection worksheet are shown below. The rows are copied to extend the worksheet to t
Chapter 9
Linear Programming Applications in Marketing, Finance, and
Operations Management
Case Problem 1: Planning an Advertising Campaign
The decision variables are as follows:
T1 = number of television advertisements with rating of 90 and 4000 new cust
Chapter 17
Markov Processes
Case Problem: Dealers Absorbing State Probabilities in Blackjack
1.
The first step is to create the transition probability matrix for the dealers hand. The states are
defined by the value of the dealers hand after the up card i
Chapter 15
Waiting Line Models
Case Problem 1: Regional Airlines
1.
SingleServer Waiting Line Analysis
The analysis that follows is based upon the assumptions of Poisson arrivals and exponential
service times. With one call every 3.75 minutes, we have an
Chapter 14
Inventory Models
Case Problem 1: Wagner Fabricating Company
1.
2.
Holding Cost
Cost of capital
Taxes/Insurance (24,000/600,000)
Shrinkage (9,000/600,000)
Warehouse overhead (15,000/600,000)
Annual rate
Ordering Cost
2 hours at $28.00
Other expe
Chapter 13
Project Scheduling: PERT/CPM
Case Problem: R.C. Coleman
1.
R.C. Coleman's Project Network
D
A
Start
C
B
E
F
G
Activity
A
B
C
D
E
F
G
H
I
J
K
Activity
A
B
C
D
E
F
G
H
I
J
K
I
Earliest
Start
0
0
9
13
13
23
13
29
29
35
39
K
H
J
Expected Time
6
9
4
Chapter 11
Integer Linear Programming
Case Problem 1: Textbook Publishing
An integer programming model can be used advantageously to assist in developing recommendations.
Let xi =
cfw_1 if book i is scheduled for publication
0 otherwise
The subscripts cor
Chapter 12
Advanced Optimization Applications
Case Problem: CAFE Compliance in the Auto Industry
1.
The model is
! PASSENGR CAR MILES PER GALLON;
PASSMPG = 30;
! LIGHT TRUCK MILES PER GALLON;
LTRUCKMPG = 20;
! PP  PASSENGER CAR PRICE;
! TP  LIGHT TRUCK
Chapter 10
Distribution and Network Models
Case Problem 1: Solutions Plus
1.
This case can be formulated as a transportation problem with the Cincinnati and Oakland production
facilities as the origins. The locations of the railway stations are the destin
Chapter 4
Decision Analysis
Case Problem 1: Property Purchase Strategy
The decision tree for the Oceanview decision problem is shown below. Note that the final outcome of
whether the zoning change is approved or rejected by the voters occurs after Oceanvi
Chapter 6
Forecasting
Case Problem 1: Forecasting Food and Beverage Sales
1.
Graph of the time series:
2.
Analysis of seasonality:
Month
January
February
March
April
May
June
July
August
September
October
November
December
SeasonalIrregular
Component Val
Chapter 8
Linear Programming: Sensitivity Analysis and Interpretation
of Solution
Case Problem 1: Product Mix
Note to Instructor: The difference between relevant and sunk costs is critical. The cost of the shipment of
nuts is a sunk cost. Practice in appl
Chapter 7
Introduction to Linear Programming
Case Problem 1: Workload Balancing
1.
Model
DI910
DI950
Production Rate
(minutes per printer)
Line 1
Line 2
3
4
6
2
Profit Contribution ($)
42
87
Capacity: 8 hours 60 minutes/hour = 480 minutes per day
Let
D1
Chapter 3
Probability Distributions
Case Problem: Specialty Toys
1.
Information provided by the forecaster
.05
.90
10,000
20,000
At x = 30,000,
z
x 30, 000 20, 000
1.96
30, 000 20, 000
5102
1.96
Normal distribution 20, 000
2.
5102
@ 15,000
15, 000 20,
Chapter 5
Utility and Game Theory
Case Problem: Utility, Game Theory, and Product Line Extension Decisions
The utility values and a graph of the utility function for ABC, Inc. appear below.
Indifference Values and Utility Values for Jack Webster of ABC, I
Chapter 1
Introduction
Case Problem: Scheduling a Golf League
Note to Instructor: This case problem illustrates the value of the rational management science approach.
The problem is easy to understand and, at first glance, appears simple. But, most studen
Chapter 2
Introduction to Probability
Case Problem: Hamilton County Judges
The data in the table provides the basis for the analysis. We provide notes as a guide to answering
questions 1 through 5.
1.
The conditional probabilities of cases being appealed
' (we
NAME JO
STUDENT# g 35
UNIVERSITY OF TORONTO AT SCARBOROUGH
ECM C48
MONEY and BANKING
Jack Parkinson
SUMMER 201 1
MIDTERM EXAMINATION
INSTRUCTIONS: 1. Total time for this test is 1.5 hours.
2. Total marks = 100.
3. ALL exam documents MUST