Consider the data in Table 1. Table 1: Economy-wide Product and Prices by Year Item 2005 Price 2005 Quantity 2006 Price  2006 Quantity Apples $2.00 10 $2.25 12 Oranges $3.00 10 $3.50 8   Assuming that production in both years consisted entirely of apples and oranges, the nominal GDP growth rate between 2005 and 2006 was:

The table below shows the tons of rice and corn that can be produced in Country X and Country Y in one year, using the same amount of productive resources. Table Country Rice Corn Country X 20 40 Country Y 16 4 According to the theory of comparative advantage, what should firms in Country X do?

Assume that the economy is at full employment and is experiencing rapid inflation. Which of the following combinations of monetary and fiscal policies would reduce inflation the most, assuming the dollar values for both policy changes are the same amount?

If all of the firms in a competitive industry are legally required to meet new regulations that increase their cost of production:

Which of the following is true in the short run when comparing an increase in government spending to an increase in private investment spending?

“To correct our balance of trade deficit, we should increase tariffs on imported goods.” If tariffs are increased, the long-run effect is most likely to be:

The consumer price index in an economy is 180 one year and 189 the next year. The rate of inflation in the economy over that year period is:

Question F14 – Use Excel File F14 for your answer. Suppose Dr. N invests 25% of his hard-earned cash in four stocks, Apple, Microsoft, Tesla, and Costco. The following table shows the mean and standard deviation of each stock’s annual return.   Distributions of Returns   Mean Standard Deviation Apple 16% 21% Microsoft 12% 13% Tesla 25% 38% Costco 18% 20%   The correlations between the annual returns on the four stocks are as follows.   Correlation Matrix   Apple Microsoft Tesla Costco Apple 1 0.75 – 0.7 0.2 Microsoft 0.75 1 -0.2 0.5 Tesla -0.7 -0.2 1 0.65 Costco 0.2 0.5 0.65 1   ​You can assume that he has invested equal amounts in each of these stocks. Also it is safe to assume lognormal distribution for each of the stock returns. Use the above simulation model to estimate the probability that Dr. N’s portfolio’s annual return will exceed 22%. Please complete and upload this partial template:  F_2023_Excel F14.xlsx 

Question F4 What is the advantage of using risksimtable feature instead of running multiple separate simulations?

Question F7 – Use Excel File F7 for your answer. Johns Hopkins University has three parking lots on its Homewood campus, LOT A, LOT B, and LOT C. The following table shows the capacity of each lot Lot Capacity Total number of faculty and staff parking pass holders LOT A 250 310 LOT B 300 345 LOT C 350 400 The number of people showing up in each lot is independent of the others. On a typical day, the probability of a LOT A parking permit holder showing up is 85%, a LOT B parking permit holder showing up is 87%, and a LOT C parking permit holder showing up is 89%. What is the probability that on a typical day, at least one parking permit holder will be unable to find a parking space in LOT C? You need to build a simulation model to answer this question. Please complete and upload this partial template:  F_2023_Excel F7.xlsx