2. Problems and Applications Q2 For each of the following scenarios, illustrate the effects of the development on both the short-run and long-run Phillips curves (SRPC and LRPC, respectively). There is a fall in the natural rate of unemployment. SRPC LRPC Inflation Rate Unemployment Rate SRPC LRPC There is a decline in the price of imported oil. SRPC Movement along SRPC LRPC Inflation Rate Unemployment Rate SRPC LRPC There is a decrease in taxes. SRPC Movement along SRPC LRPC Inflation Rate Unemployment Rate SRPC LRPC There is a rise in expected inflation. SRPC LRPC Inflation Rate Unemployment Rate SRPC LRPC

8. agreement and disagreement among economists suppose that bob, an economist from a university in arizona, and cho, an economist from a public television program, are arguing over saving incentives. the following dialogue shows an excerpt from their debate: cho: i think it's safe to say that, in general, the savings rate of households in today's economy is much lower than it really needs to be to sustain an improvement in living standards. bob: i think a switch from the income tax to a consumption tax would bring growth in living standards. cho: you really think households would change their saving behavior enough in response to this to make a difference? because i don't. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? rent ceilings reduce the quantity and quality of available housing. immigrants receive more in government benefits than they contribute in taxes. having a single income tax rate would improve economic performance.

Describe three scenarios in which you might utilize mathematics to investigate a crime scene, accident scene, or to make decisions involving police practice. be sure to explain how math is used in police as they work through each scenario.

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?