Numerade

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INSTANT ANSWER

6. (5 points) Researchers examined working memory capacity (how many items, like words or numbers) people can hold in their mind as a function of age (children, young adults, and older adults.) Participants from each of the three groups took the digit span task. Children had a mean working memory capacity of 4.2, older adults had a mean working memory capacity of 5.8, and young adults had a mean working memory capacity of 7 . Results of an ANOVA and Tukey's HSD test are shown below. Write up the findings in a paragraph, including the relevant information from the output and an interpretation. \begin{tabular}{|c|c|c|c|c|c|} \hline \begin{tabular}{l} ANOVA \\ output \end{tabular} & \begin{tabular}{lrr} & Df & Su \\ wm\$Group & 2 & 1 \\ Residuals & 12 & 2 \\ \hdashline- & & \\ Signif. & codes: & 0 \end{tabular} & \begin{tabular}{l} um Sq M \\ 19.73 \\ 23.60 \\ 0 cok* $ ^{\prime} $ \end{tabular} & \begin{tabular}{cc} Mean Sq F F value F \\ 9.867 & 5.017 \\ 1.967 & \\ 0.001 & '**' 0.01 \end{tabular} & \begin{tabular}{l} $ \operatorname{Pr}(>F) $ \\ $ 0.0261 * $ \\ 1 \&*, 0.05 \end{tabular} & $ \because 0.1 \cdot, 1 $ \\ \hline \begin{tabular}{l} Tukey's \\ HSD output \end{tabular} & \begin{tabular}{l} \begin{tabular}{r} Tukey multip \\ $ 95 \% $ family \end{tabular} \\ Fit: aov(formu \\ \$ wm\$Group \\ OAdult-Child \\ YAdult-Child \\ YAdult-OAdult \end{tabular} & \begin{tabular}{l} ple cc \\ y-wist \\ ula $ = $ \\ \\ diff \\ 1.6 \\ 2.8 \\ 1.2 \end{tabular} & \begin{tabular}{l} omparisons of \\ e confidence \\ wm\$Score w \\ lwr \\ -0.76624123 \\ $ 0.4337588 \quad 5 $ \\ -1.16624123 \end{tabular} & & \begin{tabular}{r} padj \\ 0.2098219 \\ 0.0209244 \\ 0.3947346 \end{tabular} \\ \hline \end{tabular}

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INSTANT ANSWER

32. Draw the money supply and demand curves, properly labeling the x-axis and y-axis, to show the change in equilibrium. (5 Points) 33. As a result of the change in interest rates, investments (1 Point) a. Increase. b. Decrease. 34. The change in investments results in (1 Point) a. A decrease in output and a decrease in employment. b. A decrease in output but an increase in employment. c. An increase in output but a decrease in employment. d. An increase in output and an increase in employment. 35. As a result of the change in employment, income (1 Point) a. Increases. b. Decreases. 36. The change in income causes consumption to (1 Point) a. Increase. b. Decrease. 37. As consumption changes, which direction does the demand curve for goods and services move? (1 Point) a. Left. b. Right. 38. The shift in the demand curve for goods and services results in a new equilibrium with (1 Point) a. Lower prices. b. Higher prices. 39. Draw the supply and demand curves for goods and services, properly labeling the x-axis and y-axis, to show the change in equilibrium. (5 Points) Section C - A total of 26 possible points. Given the following demand (Qd) and supply (Qs) for rental housing in Albany, NY, answer the following questions. Price (per Month) Quantity Supplied (Units) Quantity Demanded (Units) $400 12,000 23,000 $500 15,000 19,000 $600 17,000 17,000 $700 19,000 15,000 $800 20,000 14,000 40. Equilibrium price was: __________ (1 Point) 41. If the state of New York were to imposed a price control to keep the cost of a typical apartment at $500 per month, this would be considered an example of: (Circle one) (1 Point) Price Ceiling Price Floor 42. At this state imposed price of $500 per month, is there an excess supply or excess demand? How many units? (1 Point) 43. Using a carefully labeled diagram, show the demand and supply, equilibrium price (P*) and quantity (Q*), price control (Pc) imposed by the state of New York, and the excess supply or demand. (3 Points) 44. What are the three major concerns of macroeconomics, and define how each function is measured? (6 Points)

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ANSWERED

Dave Kratz

Numerade educator

Answer the following questions assuming the economy is in a recession and the FED decides to buy bonds from the public: a. What is the impact of the FED’s action on bank reserves? (1/2 Point) Increases OR Decreases b. What is the impact of the change in bank reserves on the money supply? (1/2 Point) Increases OR Decreases c. As the money supply changes, which direction does the money supply line move? (1/2 Point) Left OR Right d. The shift in the money supply line results in a new equilibrium with a: (1/2 Point) Higher interest rate OR Lower interest rate e. Draw the money supply and demand curves, properly labeling the x-axis and y-axis, to show the change in the money supply and the resulting impact on interest rates. (5 Points)

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BEST MATCH

Use the following diagram to answer the next questions (YOU MUST SHOW CALCUATIONS TO EARN FULL POINTS) 4. Based on the above diagram, the MPC is equal to (3 points) a. 0.75 d. 0.25 b. 0.4 e. None of the above c. 0.8 5. Based on the above diagram, the multiplier is equal to (2 points) a. 1 d. 1.25 b. 4 e. None of the above c. 5 6. Based on the above diagram, what is the value of unplanned inventories when real GDP is $23 trillion (2 points) a. -1 trillion c. 4 trillion b. 1 trillion d. 5 trillion

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Rahwa G.