## ECON-571 Final Exam Solutions Financial Economics

ECON-571 Final Exam Solutions Financial Economics (Georgetown University) in \$9 only
February 3, 2016
Problem 1.
1

An individual with a utility function U(c) = -exp (-Ac) (where A = 30 ln 4) and an initial wealth of \$50 must choose a portfolio of two assets. Each asset has a price of \$50. The ﬁrst asset is riskless and pays oﬀ \$50 next period in each of the two possible states. The risky asset pays oﬀ zs in state s = 1, 2. Suppose also that the individual cares only about next period consumption (denoted by c1 or c2 depending on the state). The probability of state 1 is denoted by π.

(a) If the individual splits his wealth equally between the two assets, ﬁll in the following table assuming that each of three scenarios is considered.
Scenario
1
2
3

(z1 , z2 )
(20,80)
(38,98)
(30,90)

π
1/5
1/2
1/3

(c1 , c2 )

E[c]

Var[c]
(b) How would this individual rank these three scenarios? Explain and give reasons to support your argument.
(c) Show that under each scenario the individual’s optimal decision is to invest an equal amount on each of the two assets.
Problem 2.
Consider an agent with a well-behaved utility function who must balance his portfolio between a riskless asset and a risky asset. The ﬁrst asset, with price p1 has the certain payoﬀ z1 while the second asset, with price p2 pays oﬀ z2 which is a random variable. The agent has an initial wealth Y0 and he only cares about next period. Assuming that he holds x1 units of the riskless asset and x2 units of the risky asset;
(a) Write down his expected utility function in terms of Y0 , x1 , x2 , z1 and z2 . Write down his budget constraint as well. Find the equation (the FOC) that the optimal demand for the risky asset has to satisfy.
(b) Assume now that his utility function is of the form: U (Y ) = a − be−AY with a, b &gt; 0. Show that the demand for the risky asset is independent of the initial wealth. Explain intuitively why this is so.

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## Economics 3000H 2015/16 Assignment 1

Economics 3000H 2015/16 Assignment 1 in \$21 only

Each question is marked out of 10.
1. The demand function for an economics textbook is given by P = 50 – 0.004Q. The publisher must pay \$10 per book in printing and distribution costs and, in addition, must pay the author a royalty fee of \$30 for each book sold.

a. What price maximizes the publisher’s profit? How much profit is made? How large will the author’s royalty cheque be?
b. A consultant recommends that a new agreement should be made where, instead of getting \$30 per book, the author enters a profit-sharing agreement with the publisher. The author will get 75% of profits and the publisher 25%. What price should the publisher set with this profit-sharing agreement? Will both the author and the publisher prefer this new agreement? Which agreement will the students who buy the book prefer?

2. A monopolist faces the demand curve P = 120 – 0.02Q where Q is weekly production and P is the price measured in cents. The cost function is given by C = 60Q + 25,000.

a. What is the profit-maximizing quantity, price and profit per week?
b. If the government imposes a tax of 14 cents per unit on this product (to be paid by the firm), what will be the new level of production, price and profit?

## P4-2 Week 2 Printware Products, Inc

P4-2 Week 2 Printware Products, Inc in \$14 only

P4-2 Printware Products, Inc. produces printers for wholesale distributors. It has just completed packaging an order from Hawes Company for 450 printers. Before the order is shipped, the controller wants to compare the unit costs computed under the company’s new activity-based costing system with the unit costs computed under its traditional costing system. Printware’s traditional costing system assigned overhead costs at a rate of 240 percent of direct labor cost.
Data for the Hawes order are as follows: direct materials, \$17,552; purchased parts, \$14,856; direct labor hours, 140; and average direct labor pay rate per hour, \$17.
Data for activity-based costing related to processing direct materials and purchased parts for the Hawes order follow.

## RES 342 Week 4 Individual Assignment

RES 342 Week 4 Individual Assignment

RES 342 Week 4 Individual Assignment Parametric and Nonparametric Data Identification Assignment

Resources: Parametric and Nonparametric Data Identification Assignment

Complete the University Material, Parametric and Nonparametric Data Identification Assignment located on your student website.

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## VCT 410 Entire Course

VCT 410 New Entire Course

VCT 410 New Entire Class

VCT 410 New Full Course

VCT410 New Entire Course

VCT/410 New Entire Course

VCT 410 New Complete Course

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## Case Study Analysis: Managing Projects In Decentralized Organizations: Tracking Humanitarian Fleets

Case Study Analysis: Managing Projects In Decentralized Organizations: Tracking Humanitarian Fleets

Prepare a report with your own views, addressing the following key points:

1.    Critical analysis – Evaluate the current situation and explain, in your opinion, why the project is not obtaining the expected results. What went wrong and where (in what areas?)
2.    Strategic recommendations – What corrective actions would you recommend to bring the project back on track? What will be the impact of those corrective actions? Can you identify any foreseeable difficulties?

Summary

The question belongs to Operations Management and it discusses about the case study Managing Projects In Decentralized Organizations: Tracking Humanitarian Fleets from INSEAD, bearing No. INS180.

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## BSOP 334 Week 3 Homework

BSOP 334 Week 3 Homework

Discussion and Review Questions: 1, 2, 3a, 3b, & 3c (p. 542), Case: Promotional Novelties (p. 549)

Contrast independent and dependent demand.

When is MRP appropriate?

Briefly define or explain each of these terms.

How many wheels sets should the manager order?

When should the wheels sets be ordered?

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## DBM 380 Week 5 Final Paper

DBM 380 Week 5 Final Paper

Huffman Trucking
Fleet Maintenance Database Huffman trucking SR-ht-003

Creating a Database Design for Fleet Truck Maintenance
The database for Huffman Trucking began with using Microsoft® Access 2007 by creating tables and fields for several service categories for the fleet. Smith Systems Consulting developed entities and attributes of Fleet Truck Maintenance. This database will be developed and used by the Huffman Company to recall data pertaining to the fleet truck maintenance.

## GEN 200 Week 5 Professional Knowledge and Abilities Paper

GEN 200 Week 5 Professional Knowledge and Abilities Paper in \$2.95 only

Among the many associations focused on the field of education, the American Federation of Teachers (AFT), established in 1916, stands out for its comprehensive advocacy for educators and students and its sizable and distinguished membership. Over the decades the AFT has expanded to include and represent paraprofessionals and local, state and federal employees among others. The AFT represents its members in the areas of their financial, social and professional interests. The AFT also provides a resource clearing house and numerous sources for new educators to develop their professional knowledge base and skill set.

Contribution

## UMUC ACCT311 Homework 7

UMUC ACCT311 Homework 7  in \$19 only

Homework 7

BE 15-1

At thebeginningofits fiscal year,Lakeside,Inc.leased office spacetoLTT Corporation underasevenyearoperatinglease agreement. The contract calls

BE 15-2

BE 15-3

BE 15-4

BE 15-5

BE 20-1

In 2013, the Barton and Barton Company changed its method of valuing inventory from the FIFO method to the average cost method. At December 31, 2012, B&B’s inventories were \$32 million (FIFO). B&B’s records indicated that the inventories would have totaled \$23.8 million at December 31, 2012, if determined on an average cost basis. Ignoring income taxes, what journal entry will B&B use to record the adjustment in 2013? Briefly describe other steps B&B should take to report the change.

BE 20-2

In 2013, Adonis Industries changed its method of valuing inventory from the average cost method to the FIFO method. At December 31, 2012, AdonisAc€?cs inventories were \$48.4 million (average cost). AdonisAc€?cs records indicated that the inventories would have totaled \$65.6 million at December 31, 2012, if determined on a FIFO basis.

Ignoring income taxes, what journal entry will Adonis use to record the adjustment in 2013?

BE 20-4

Irwin, Inc., constructed a machine at a total cost of \$35 million. Construction was completed at the end of 2009 and the machine was placed in service at the beginning of 2010. The machine was being depreciated over a 10-year life using the straight-line method. The residual value is expected to be \$3 million. At the beginning of 2013, Irwin decided to change to the sum-of-the-yearsAc€?c-digits method. Ignoring income taxes, prepare the journal entry to record relating to the machine for 2013.

BE 20-5

BE 20-8

BE 20-9

BE 20-11

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## FE Acct Final Exam MCQs

FE Acct Final Exam MCQs in \$11 only

Dividends are declared out of

Multiple Choice Question 71

If Baylor Company issues 8,000 shares of \$5 par value common stock for \$280,000,

Multiple Choice Question 74

If stock is issued for a noncash asset, the asset should be recorded on the books of the

corporation at

Multiple Choice Question 76

If a stockholder receives a dividend that reduces retained earnings by the fair market value of the stock, the stockholder has received a

Multiple Choice Question 44

## ENG 121 Week 1 Diagnostic Essay

ENG 121 Week 1 Diagnostic Essay

Diagnostic Essay. The diagnostic writing exercise will help your instructor discover who you are as a writer. The essay will be used to help you identify your strengths and weaknesses as a writer, and it will allow the instructor the opportunity to identify grammatical, mechanical, and stylistic problems specific to each student. You will earn full credit for completing this assignment, as long as you follow instructions.

Word Range: 400-500 Estimated Time on Task: 1hour

Please select one of the topics below as the subject of a short essay.

Topic 1: Favorite Location

Think of a specific location that means something to you, such as the ocean, front porch of a favorite family restaurant, or perhaps a favorite room in your home. Convey that meaning to the reader by describing the location as it impacts three of the five senses – sight, sound, touch, taste, or smell.

Topic 2: Healthy vs. Happy? Is taking care of your health—watching what you eat, exercising regularly, etc.—a big waste of time? Isn’t life too short to worry about these things? Shouldn’t we just eat and do what we want? Explain your position.

## ASHFORD SOC 120 Week 3 DQ 1 Death Penalty

ASHFORD SOC 120 Week 3 DQ 1 Death Penalty

Advocates of the death penalty recognize that no system is perfect and that applying the death penalty runs a small risk of executing someone who is innocent. Is this a price society should be willing to pay?

...There are many politicians who are trying to get laws passed banning the death penalty. There is now an estimated 3000 people on death row across the country and if those politicians get their way, those 3000 prisoner’s lives will be spared….

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## MHA 620 Week 5 DQ 1 The 100K Lives Campaign

MHA 620 Week 5 DQ 1 The 100K Lives Campaign

MHA 620 Week 5 DQ 1 The 100K Lives Campaign of Ashford University

Medicaid Design. If you could design a new Medicaid program, what would be your primary decision-making goal and why? Respond to at least two of your classmates’ postings.

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## ECO 561 Week 4 Quiz

ECO 561 Week 4 Quiz

1. Business cycles occur when output

Hint: Business cycles fluctuate over time around the linear trend of gross domestic product (GDP).

A. falls below its potential

B. rises above its potential

C. is fixed at its potential

D. fluctuates around its growth trend ]

2. Which of these statements best describes a complete individual business cycle?

Hint : A complete business cycle is measured from the initial peak to the next peak.

A. Movement from peak to trough to peak

B. Movement from recession to expansion

C. Movement from peak to recession to trough

D. Movement from trough to expansion then to peak

3. During the business cycle, the period between the point at which output reaches a high and the point at which it reaches a low is called

Hint : After a period of economic expansion, the economy usually contracts. This contraction would be characterized by higher unemployment and a declining GDP.

A. a peak

B. a trough

C. an expansion

D. a recession

4. Which of the following equals the market value of all final goods and services produced in an economy, stated in the prices of a specific base year?

A. Nominal GNP

B. Nominal GDP

C. Real GDP

D. Real GNP

5. Imagine a country has a population of 210 million. Within the country there are 95 million people who are employed workers, 50 million people incapable of working, and 60 million people capable of working, but not actively looking. Based on this information, what is the unemployment rate?

Hint : Begin by looking at the labor force, then find the number of unemployed people. Some division and multiplication will be necessary after this point to find the unemployment rate.

A. 3%

B. 5%]

C. 7%

D. 9%

6. The unemployment produced by fluctuations in economic activity is called

Hint X Unemployment often changes with the business cycles. As the economy expands, the level of unemployment decreases. The unemployment level decreases as the economy expands.

A. frictional unemployment

B. cyclical unemployment]

C. natural unemployment

D. structural unemployment

## NTC 405 Week 3 Supporting Activities Differentiated

NTC 405 Week 3 Supporting Activities Differentiated

Hands-On Supporting Activity: LabSim® Network+ 2009 – 5.0 Network Implementation
Resource: LabSim® Network+ 2009 – 5.0 Network Implementation
Create a screenshot of the last LabSim® page of each lesson in the module showing the outcome for the section.
1. Press Alt + Print Screen on your computer keyboard to create a screenshot.
2. Open a blank Microsoft® Word document.
3. Press Ctrl + V on your keyboard to paste the screenshot into the document.
Supporting Activity: Channel Estimation
Write a 200- to 300-word short-answer response to the following questions:
· Based on Kwak, et al (2008), how does the use of channel estimation change the ability to increase data communication?
· Is this something that will allow companies to purchase less bandwidth, but still allow for the same data flow? Explain why or why not.

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## Entire Class SOC 402

SOC 402 Contemporary Social Problems and the Workplace Entire Course in \$29 only

SOC 402 Contemporary Social Problems and the Workplace Entire Course

SOC 402 Week 1 DQ 1 Three Sociological Perspectives

Entire Class SOC 402

Compare the differences among the three major theoretical perspectives in sociology (structural-functionalism, conflict theory, and symbolic interactionism). With which theory and theorist do you find that you share similar views with and why?

SOC 402 Week 1 DQ 2 Qualitative vs. Quantitative Research & the Methods of Social Research

Compare and contrast the advantages and disadvantages of qualitative and quantitative research. Suppose you are to study police brutality, what methods of research (demographics, historical data, surveys, interviews, or observation) would you utilize?

SOC 402 Week 2 DQ 1 McDonaldization

Analyze your college or workplace using Weber’s model of bureaucracy. What elements (efficiency, calculability, predictability, and control) of McDonaldization do you see? Do you wish life were less McDonaldized? Why or why not?

SOC 402 Week 2 DQ 2 Generational Differences in the Workplace

Analyze the following scenarios:

a. Bob Jackson is 44. He is the manager of operations for a mid-sized company. He is always working and many employees at work think that he is a workaholic. His goal is to become the company president before he turns 50. In which generational group would Bob fall? Explain your answer.

b. Jerry Thomas is 28 and has just become the new corporate VP at his company. The older VPs with whom he works see him as impulsive, somewhat self-centered and unwilling to play by the rules. In which generational group would Jerry fall? Explain your answer.

SOC 402 Week 2 Assignment Women and Flexibility in the Workplace

After viewing Women as change agents in America: Part I, determine why Kathleen Christensen believes that the flexibility of women in the workplace is a social and structural issue.

a. Identify some factors that have affected women’s flexibility in the workplace throughout history.

b. Evaluate the factors that have affected women’s pay in the workforce.

c. Hypothesize what may change for women in the workplace within the next 10 years.

SOC 402 Week 3 DQ 1 Retirement

After viewing Retirement revolution: The new reality, examine how the topic of retirement has changed in American society since the 2008 recession. Describe how it has impacted your plans, family members, or friends’ plans for retirement. Compare traditional views of retirement with current views.

SOC 402 Week 3 DQ 2 Sexual Harassment

Here are several events that happen in the workplace. Do you believe they fall under the definition of sexual harassment? If so, why? If not, why not?

a. Jane willingly dated a co-worker for the last 3 years. Now, she has met someone else and does not want to continue the relationship with the co-worker. The co-worker does not want to end the relationship and is posting negative things about her on Facebook.

b. Linda offers sexual favors to her professor in order to get a passing grade. The professor agrees, and Linda receives a passing grade.

c. Mary, a supervisor, asks her male employee, Stan, to join her for dinner so they have will some quiet time away from the office to go over his performance evaluation.

d. Bob, a supervisor, makes comments about on a regular basis to his secretary, Susan, about how she is dressed for the day.

e. A customer in a restaurant grabs the rear end of a waitress. She complains about the customer to the manager, who says, “Ignore it, you’ll probably get bigger tip.”

f. Don posts pictures of scantily clothed women on his office walls.

SOC 402 Week 3 Assignment Outline of Final Paper Professional Workplace Substance Abuse Outline

Review the Final Paper instructions in Week Five of the online course or in the “Components of Course Evaluation” section of this guide. Then, visit the Ashford Writing Center located under Learning Resources tab on the left navigation tool bar in our online classroom. Format your outline for the Final Paper according to the “Sample Outline.” (NOTE: In the “Sample Outline,” it states that the thesis statement is the last one to three sentences of the Introduction. However, the thesis statement must be one sentence in length and the last sentence of the Introduction).

The outline must include:

• Introduction with thesis statement
• An outline of 5 body paragraphs as demonstrated in the Writing Center’s template
• Conclusion
• Reference Page

SOC 402 Week 4 DQ 1 Second Shift

Respond to the following questions: Among twin- income and dual-career families, do you think there will ever be an equal sharing of household work? Why or why not? There has been some indication that women voluntarily assume a larger share of household responsibilities because they feel that their male partners do not perform these tasks satisfactorily. How do you think this observation fits in with the sharing of housework?

SOC 402 Week 4 DQ 2 Substance Abuse

Substance abuse may include alcoholics and drug users, their behavior will be different than other workers on the job. In what ways can alcohol and drug use affect job performance and career success? What are some ways that employees with alcohol and drug problems deal with their problems and in your opinion, what can employers do to assist employees?

SOC 402 Week 5 DQ 1 Ethics in the Workplace

Analyze 2 of the following ethical scenarios:

§ Although John is an honest employee who never takes money from the company cash box, he uses the company car to run personal errands while making sales-rounds. Is this unethical behavior? If so, why? If not, why not?

§ Betty is a high producing, devoted employee who might work overtime in an emergency. She tells her boss that she got caught in traffic upon arriving late the next day, when in fact, she overslept. Is this unethical behavior? If so, why? If not, why not?

§ Suzy is a sympathetic employee who knows a co-worker is operating a small business on the side (often using company office equipment and paper) but says nothing. Is this unethical behavior? If so, why? If not, why not?

§ Noticing her supervisor, a young married man, taking her co-worker, Joanna, who was divorced, home two nights in succession, Diane decided something was going on between them. Without any malicious intent, Diane introduced the matter into the local grapevine and, as so often happens, the rumor got out of hand. Is this unethical behavior? If so, why? If not, why not?

SOC 402 Week 5 DQ 2 Globalization

Describe how globalization has changed the way American companies are doing business. In what ways do you believe this change has benefited American organizations and/or their customers? Are there ways in which organizations and their customers have been adversely effected? Explain.

SOC 402 Final Paper

Select one of the following issues affecting the workplace and working environment. You may narrow the range of the topic by choosing a subtopic. Develop a paper that discusses the issue you have chosen, your subtopic if applicable, and how your topic has or is affecting the work environment that you have been in or are currently a part of. Also analyze how the problem(s) could be solved using various social controls (i.e., laws, organizational policies/practices, training/education, government or corporate involvement) and determine what potential social or economic benefits may result if your recommended changes were implemented.

• Retirement issues
• Balancing family and work life
• Workplace violence
• Ethical behavior in the workplace
• Substance abuse in the workplace
• Sexual harassment

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## SOC 308 Week 5 DQ 1 Northern Ireland

SOC 308 Week 5 DQ 1 Northern Ireland in \$3

English involvement in Ireland dates back to 1171, when English King, Henry II invaded the island to expand his empire. Since then, politics in the region has been characterized by varying degrees of tension between Irish independence and British rule. This tension has often flared into violent conflict. As in other global situations, what might be more accurately described as a political and economic conflict has become an ethnic conflict, with opposing groups unified around cultural and religious identities.

a. In your informed opinion, what events led to the peace agreements immediately preceding the current state of harmony?

b. Given the long history of conflict, is it likely that disputes between England and Ireland have been permanently resolved?

c. What can be done to decrease the chance of further conflict?

d. What does this example tell us about the social construction of ethnic identities?

Your initial post for each discussion should be a minimum of 250 words. Use scholarly sources to support your responses. Include citations and references in APA style. Review the posts of your peers, focusing on solutions. Respond to a minimum of two other comments posted by your classmates. Be sure to review the discussion board grading rubric located in the classroom.

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