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PROMPT:  Explain the reasons why a new conservatism rose to prominence in the United States between 1960 and 1989. Document 1 Source: Barry Goldwater, a Republican senator from Arizona, The Conscience of a Conservative, 1960. Franklin Roosevelt’s rapid conversion from Constitutionalism to the doctrine of unlimited government is an oft-told story. . . . I am here concerned . . . by the unmistakable tendency of the Republican Party to adopt the same course. The result is that today neither of our two parties maintains a meaningful commitment to the principle of States’ Rights. Thus, the cornerstone of the Republic, our chief bulwark against the encroachment of individual freedom by Big Government, is fast disappearing under the piling sands of absolutism…. The root evil is that the government is engaged in activities in which it has no legitimate business. As long as the federal government acknowledges responsibility in a given social or economic field, its spending in that field cannot be substantially reduced.   Document 2  Source: Milton Friedman, economist, Capitalism and Freedom, 1962.We now have several decades of experience with governmental intervention….Which if any of the great “reforms” of past decades has achieved its objectives?…A housing program intended to improve the housing conditions of the poor, to reduce juvenile delinquency,and to contribute to the removal of urban slums, has worsened the housing conditions of the poor, contributedto juvenile delinquency, and spread urban blight….The greater part of the new ventures undertaken by government in the past few decades have failed to achievetheir objectives. The United States has continued to progress; its citizens have become better fed, betterclothed, better housed, and better transported; class and social distinctions have narrowed; minority groupshave become less disadvantaged. . . . All this has been the product of the initiative and drive of individualsco-operating through the free market.    Document 3  Source: Letter to Nelson Rockefeller, Republican governor of New York, February 6, 1971. This letter is written to you by a law abiding citizen who feels she is discriminated against in favor of dope addicts and welfare cheats. I am a widow who lives alone, works every day, pays taxes and lives by the rules. I get very little from my taxes when I can no longer walk on the streets and when I am afraid in my own home…. Sorry this letter is not typed. My typewriter was stolen.    Document 4 Source: Jerry Falwell, television evangelist and founder of the Moral Majority, Listen, America!, 1980. We must reverse the trend America finds herself in today. Young people between the ages of twenty-five and forty have been born and reared in a different world than Americans of years past. The television set has been their primary baby-sitter. From the television set they have learned situation ethics and immorality—they have learned a loss of respect for human life. They have learned to disrespect the family as God has established it. They have been educated in a public-school system that is permeated with secular humanism. They have been taught that the Bible is just another book of literature. They have been taught that there are no absolutes in our world today. They have been introduced to the drug culture. They have been reared by the family and the public school in a society that is greatly void of discipline and character-building. These same young people have been reared under the influence of a government that has taught them socialism and welfarism. They have been taught to believe that the world owes them a living whether they work or not. From AMERICA: A NARRATIVE HISTORY, SEVENTH EDITION by George Brown Tindall & David E. Shi. Copyright © 2007, 2004, 1999, 1996, 1992, 1988, 1984 by W.W. Norton & Company, Inc. Used by permission of W.W. Norton & Company, Inc. Excerpt from LISTEN, AMERICA! byJerry Falwell, copyright © 1980 by Jerry Falwell. Used by permission of Doubleday, an imprint of the Knopf Doubleday Publishing Group, a division of Random House LLC. All rights reserved. Any third party use of this material, outside of this publication, is prohibited. Interested parties must apply directly to Random House LLC for permission.    Document 5  Source: 1980 Republican Party Platform. Overseas, our goal is . . . to preserve a world at peace by keeping America strong. This philosophy once occupied a hallowed place in American diplomacy, but it was casually… dismissed at the outset by the Carter Administration—and the results have been shattering. Never before in modern history has the United States endured as many humiliations, insults, and defeats as it has during the past four years: our ambassadors murdered, our embassies burned, our warnings ignored, our diplomacy scorned, our diplomats kidnapped. The Carter Administration has shown that it neither understands totalitarianism nor appreciates the way tyrants take advantage of weakness. The brutal invasion of Afghanistan promises to be only the forerunner of much more serious threats to the West—and to world peace—should the Carter Administration somehow cling to power.  Document 6 Source: Teddi Holt, a homemaker, a member of Georgia Stop ERA, and the national president of Mothers On the March, 1984. I am pleased that God blessed me with the privilege of being a woman. I have never been envious of the role of men but have had respect for both sexes. There’s no doubt that there has been discrimination against women, but that is past history, just as discrimination against blacks is past history in the US…. Just what were we women to be liberated from? These women [feminists] were calling for liberation from the things women like me love most—our husbands, our children, our homes. My cry became: “God, liberate us from the Liberators!”… We believe that the mothers of this and other nations must stand up for the protection of our homes and our children. In no way are we extremists, unless we be guilty of extreme devotion to our husbands, our children, and our homes. It is our sincere belief that if we do not unite against the threats to the home, if we retire to the convenience and security of our houses and do not speak out, then it will not be long until we, the “keeper at home” (Titus 2.5) will not have a home to keep!Excerpt from “Women Who Do and Women Who Don’t Join the Women’s Movement” by Teddi Holt and edited by Robyn Rowland, Copyright © 1984 by Teddi Holt. Reproduced by permission of Taylor & Francis Books U.K.    

PROMPT: Evaluate the extent to which beliefs about threats to the United States shaped society from 1917 to 1945. Document 1 Source: Henry Cabot Lodge, senator from Massachusetts, speech in the United States Senate on the Treaty of Versailles, 1919  No doubt many excellent and patriotic people see a coming fulfillment of noble ideals in the words “league for peace.” We all respect and share these aspirations and desires, but some of us see no hope, but rather defeat, for them in the murky covenant. 1 . . . We would not have our politics distracted and embittered by the dissensions of other lands. We would not have our country’s vigor exhausted or her moral force abated by everlasting meddling and muddling in every quarrel, great and small, which afflicts the world. Our ideal is to make her ever stronger and better and finer, because in that way alone, as we believe, can she be of the greatest service to the world’s peace and to the welfare of mankind.1 treaty Document 2 Source: A. Mitchell Palmer, United States attorney general, “The Case Against the Reds,” magazine article, 1920 Like a prairie-fire, the blaze of revolution was sweeping over every American institution of law and order a year ago. It was eating its way into the homes of the American workman, its sharp tongues of revolutionary heat were licking the altars of the churches, leaping into the belfry of the school bell, crawling into the sacred corners of American homes . . . burning up the foundations of society. . . . . . . The Department of Justice will pursue the attack of these “Reds” upon the Government of the United States with vigilance, and no alien, advocating the overthrow of existing law and order in this country, shall escape arrest. Document 3  Source: Madison Grant, article in The Forum magazine, 1924 [Recently,] the chief cause of migration to this country has been the desire of the submerged and poverty-ridden elements in Europe to secure a share in our wealth and prosperity. They moved in vast numbers, especially from countries . . . where low standards of living prevail, into North America where wages are large, food and work abundant, and where the standard of living is very high—for the masses probably the highest in the history of the world. If unchecked, this threatened influx of foreigners will submerge the native population and ultimately reduce the standing of living of the average man to low levels. . . . The restriction of immigration is primarily necessary to prevent our present population, native and foreign alike, from being overwhelmed by numbers. This means that we must have a numerically restricted immigration.   Document 4  Source: Smedley D. Butler, “War is a Racket,” speech, 1935 War is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives.A racket is best described, I believe, as something that is not what it seems to the majority of people. Only a small “inside” group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes. . . .How many of these war millionaires shouldered a rifle? How many of them dug a trench? . . . For a great many years, as a soldier, I had a suspicion that war was a racket; not until I retired to civil life did I fully realize it. Now that I see the international war clouds again gathering, as they are today, I must face it and speak out.    Document 5  Source:  “Neutrality,” political cartoon depicting three United States Senators, 1939     Document 6  Source: Sachi Kajiwara, Japanese American woman, recollection of events at the racetrack in California that was converted into an internment camp, circa the mid-1940s I worked as a recreation leader in our block [of internees] for a group of 7-10 year old girls. Perhaps one of the highlights was the yards and yards of paper chains we (my 7-10 year old girls) made from cut up strips of newspaper which we colored re d, white, and blue for the big Fourth of July dance. . . . These paper chains were the decoration that festooned the walls of the Recreation Hall. It was our Independence Day celebration, though we were behind barbed wire, military police all around us. Document 7 Source: Mary McLeod Bethune, educator and civil rights activist, speech, circa 1942 This [world] war has given all Americans a lot to think about and a lot to do. . . . We have seen . . . whole groups of Europeans [deprived] of . . . the right to marry, the right to have families as we have known them and to give their children a fair start in the world. We look at our own country and realize that, while we have not yet achieved the full dream of democracy here, we do have the basis for making that dream come true—the opportunity to struggle toward better things for ourselves and our children, the right to the pursuit of happiness. . . . We can see we have a two-way war to wage and win: 1. Actual fighting by land and sea against totalitarian aggressors; 2. Utilizing all our opportunities to make ourselves better citizens of this democracy and to give our children a still better chance to carry on the democracy of the future. . . . . . . Sometimes, it may seem as if the Negro has almost too much to struggle against. . . . [But] we have accepted the challenge of democracy. . . . We are carrying out this American process perhaps more intensely than any other group in the population. “Speech by Mary McLeod Bethune, n.d. (circa 1942-45), untitled” courtesy of the Bethune-Cookman University Archives, Bethune-Cookman University, Daytona Beach, FL.  

Bonus questions (Save for last): B1) Coolidge Co. enters into an agreement with their competitor, the only other service provider in the area, to charge customers no less than $200/month.  This is an example of: Price gouging Predatory pricing Price discrimination Price fixing     B2) Hostile Hare craft brewers sell their exclusive, small batch, Quadruple IPA beer marketed to “discerning customers” at $15 per can.  Hostile Hare is probably a: Price maker Price taker Commodity seller Price fixer     B3) If the required rate of return on an investment is above the internal rate of return, then we also know that the net present value of the investment is: Positive Negative Zero Can’t tell from the information provided.   B4) The relationship between simple payback period and discounted payback period is: Simple payback period is the same as discounted payback period Discounted payback period is greater than simple payback period Simple payback period is greater than discounted payback period There is no discernible relationship between simple payback period and discounted payback period

Question #10 (12% total)  Bonnie’s Bistro is considering purchasing a Grindmaster Espresso machine to expand their product offerings.  A Grindmaster costs $25,000, with an estimated 4 year life with a $1,000 salvage value.  Bonnie’s will need to spend another $2,000 in working capital upfront on the machine, which will be returned to them at the end of the 4th year.  Bonnie requires a 12% rate of return and pays a 25% tax rate.  The Grindmaster is expected to increase contribution margin by $6,500 annually over its life.  Please determine the average accounting rate of return.   Please determine the net present value of this project & assess whether this project should be funded.   What, if anything, can we infer about the IRR (internal rate of return) of this project?

Questions 3 – 5  (20% total) On January 1st, 2003, Pumpkin Co decides to change from LIFO to FIFO to account for its inventory for financial reporting (GAAP) presentation purposes.  To be IRS compliant, they also switch to FIFO for tax purposes at this time.  The company began operations on 1/1/2001.  The company purchases four inventory items per year (in March, April, May, & June), and sells two units of inventory each December.  Pumpkin sells their inventory for $220,000 per item.  Price paid by Pumpkin for inventory purchases (1 item per purchase): 2002 2001 March Purchase $180,000 $200,000 April Purchase $175,000 $195,000 May Purchase $170,000 $190,000 June Purchase $165,000 $185,000 Assume Pumpkin pays 25% in taxes on their income during 2001 and 2002.  Due to tax law changes, Pumpkin anticipates paying 35% on their income in years after 2002.  Q3: What journal entry (if any) would be required on 1/1/2003 when Pumpkin changes from LIFO to FIFO?          Q4: What journal entry (if any) would be required on 12/31/2003 related to taxes if they sold 2 items as in prior years and both 2003’s tax rates and future tax rates were expected to be 35%?       Q5: INSTEAD OF the original fact pattern for 2003 (described above): During 2003 Pumpkin sells 3 inventory items in 2003 and makes no purchases of new inventory.  Due to congressional inaction, a major tax law expires and the tax rate changes unexpectedly to 50% during 2003.  What will the journal entry be at the end of 2003 pertaining to taxes and any deferred tax asset or liability?  (Pumpkin believes the tax rate will be 50% in the future as well)

As discussed in this week’s Promeds, which of the following is NOT a biological cause of disease?

III: Short Answer: This part of the exam consists of seven (7) short answer questions. Students will choose five (5) to respond to in complete sentences, answering the question completely. For full credit, you must discuss examples not discussed in the slide id section of this exam. Each response is worth six (6) points for a total of 30 points. Abstraction became central to art in the twentieth century. Discuss how and why artists sought abstract forms in favor of mimetic, figural forms in their art. What was the appeal of abstraction and did this appeal and understanding of abstraction differ between the various proponents of abstraction?

III: Short Answer: This part of the exam consists of seven (7) short answer questions. Students will choose five (5) to respond to in complete sentences, answering the question completely. For full credit, you must discuss examples not discussed in the slide id section of this exam. Each response is worth six (6) points for a total of 30 points. What is existentialism and who is known for developing this philosophy? What world events influenced existentialism? How is existentialism expressed in either artwork or the theater?

This portion of the exam assesses your ability to relate the course material to art works covered in each chapter. You will be shown seven (7) slides for this part of the exam. Your top five (5) responses will be graded.  Each response should include the following: the artist’s name if applicable (last name only is fine), the title of the work, the period or style of the work, and three (3) important, relevant facts about the work of art. (Up to 7 points each/35 available points)

III: Short Answer: This part of the exam consists of seven (7) short answer questions. Students will choose five (5) to respond to in complete sentences, answering the question completely. For full credit, you must discuss examples not discussed in the slide id section of this exam. Each response is worth six (6) points for a total of 30 points. What was the Harlem Renaissance? What propelled the Harlem Renaissance and what did thinkers and writers associated with it promote? What kinds of imagery are preferred by authors and artists associated with this movement? Describe at least one work that supports your answer.