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# 1. Which Of The Following Are Money And Which Are Not Considered As Money

Transcribed Image Text from this Question1. Which of the following are money and which are not considered as money in the Republic of Turkey? a) A credit card b) A Turkish Lira bill c) Funds in a demand deposit account d) Yahoo! Stock held by individuals e) An American dollar f) Turkish government securities. g) Grocery store coupons Explain your answer by referring to the three basic functions of money.

When Kritia’s Income Was \$3,000, She Bought 5kgs Of Rice And 2kgs Of Beef
When Kritia’s income was \$3,000, she bought 5kgs of rice and 2kgs of beef a month. Now her income is \$5,000 and she buys 4kgs of rice and 3.5kgs of beef a month. a. Calculate Kritika’s income elasticity of demand for beef. Show all working steps. b. Calculate Kritika’s income elasticity of demand for rice. Is rice normal good or inferior good? Show all working steps. c. The price of beef has increased by 15% whilst Kritika’s income remains constant. Given your answer to part (d), how will Kritika respond to the price increase. Illustrate your answer with a demand and supply diagram of beef.

The Graph Shows The Relationship Between Two Variables, X And Y, That Is Described By Equation Y = A Bx
Transcribed Image Text from this QuestionAmanjot Kaur

Q2) I) An Increase In Which Of The Following Variables Will Cause A Decrease
Q2) i) An increase in which of the following variables will cause a decrease in money demand in the current period? Select one: a. The current real interest rate. b. The expected future income. c. The current nominal interest rate. d. The current income. e. The expected future nominal interest rate. ii) During the first few years of the Great Depression: Select one: a. both nominal and real interest rates increased. b. both nominal and real interest rates decreased. c. nominal interest rates decreased, but real interest rates increased. d. both nominal and real interest rates remained constant. e. nominal interest rates increased, but real interest rates decreased. iii) Suppose there is a monetary expansion. This monetary expansion will always cause a greater increase in output when accompanied by: Select one: a. an increase in expected future output. b. a decrease in expected future interest rates. c. a decrease in expected future taxes. d. All of the above. e. None of the above.

Bush Fires And Drought Have Destroyed Banana Farms In Australia. Manufacturers Of Banana Products
Bush fires and drought have destroyed banana farms in Australia. Manufacturers of banana products are discussing ways of averting a projected shortfall in banana. The manufacturers are teaming up with farmers to trial a new species of banana that could mature in three months. With the aid of the demand and supply diagram, answer the following questions: a. Analyse the impact of the bush fires and drought on the supply of banana. b. Suppose demand for banana products increases soon after the drought and bushfires. Analyse the effect on the equilibrium quantity and price of banana. c. Analyse the effect on the equilibrium quantity and price of banana, if the trial of the new specie is successfully. Clearly state any assumptions you make. [Word limit for Question 3 only: 600 words]

10 1. Given A Monopoly Fim’s Demand Function Q = 50 -0.25P And
Transcribed Image Text from this Question 10 1. Given a monopoly fim’s demand function Q = 50 -0.25P and its cost function CO)=Q* 209 a. Find the level of output and price, which maximize profit. Calculate the elasticity

12. A(n) The N.Y. Sales Tax Is An Example Of Tax. A. Regressive B.
Transcribed Image Text from this Question12. a(n) The N.Y. sales tax is an example of tax. a. regressive b. progressive c. proportional d. excise 13. If the Federal income marginal tax rate is higher than the average tax rate, the average tax rate will a. increase b. decrease c. stay the same regardless of the size of the marginal rate d. none of the above 14. The broad definition of money supply is a. M1. b. M2. C. M3. d. M4.

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