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What will be the outcome of the following code? >>> states = {‘VA’: ‘Virginia’, ‘CA’: ‘California’} >>> ‘NY’ not in states

Suppose d = {“VA”:1, “WV”:2}, If we try to retrieve a value using the expression d[“CA”]?

Exam paper: S25 Supply Exam1.docx

Scenario 1-2a. Suppose there are three residents in a neighborhood, Isabelle, Joe, and Kennedy. They are considering the allocation of a certain public good in the neighborhood. Isabelle’s demand for the public good is Q = 80 – 4P. Joe’s demand for the public good is Q = 40 – 2P. Kennedy’s demand for the public good is Q=20-P. If your answer is not a whole number, please make sure to round to the nearest hundredth.Refer to Scenario 1-2a. What is the socially optimal number of the public good if the marginal cost of producing them is $25?

Scenario 2-1. Suppose that the supply and demand in a particular market is given by: Qs = 100 + 3P Qd = 400 – 2P Refer to Scenario 2-1. What is the equilibrium price and quantity (do not enter a $ sign)? Price: [x] Quantity: [y]

Important Reminder: If you are disqualified, you will receive a zero on this test, and all other tests will be reviewed for violations. Furthermore, your name may be forwarded to the Dean, and your final grade could be reduced by one letter grade in accordance with the Academic Integrity Policy Ensure your immediate working area is free of papers, including post-its. The use of electronics of any kind is prohibited, including calculators. and headphones. You are permitted to use a blank piece of white paper for scratch work, a pencil, an eraser, and your ID. Keep your gaze primarily on your computer screen. Use the built-in calculator of the Respondus Lockdown Browser on your computer. Do not use any other calculators.  Questions will be presented one at a time, and you will not be able to return to previous questions. Ensure your camera is properly set up so that proctors can see your face clearly at all times. A camera angle showing the floor, ceiling, or the top of your head is considered unfocused. To Do: Please show both sides of your blank piece of paper to the camera  

Scenario 1-2a. Suppose there are three residents in a neighborhood, Isabelle, Joe, and Kennedy. They are considering the allocation of a certain public good in the neighborhood. Isabelle’s demand for the public good is Q = 80 – 4P. Joe’s demand for the public good is Q = 40 – 2P. Kennedy’s demand for the public good is Q=20-P. If your answer is not a whole number, please make sure to round to the nearest hundredth. Refer to Scenario 1-2a. What is the socially optimal number of clean streets if the marginal cost of cleaning them is $53?

Table 1 Federal Government receipts and expenditures and nominal GDP, billions of dollars.   1967 1978 1984 1999 2009 2018 Tax receipts 108 280 410 1175 1124 1956 Other receipts 38 144 302 732 1116 1542 Government purchases and subsidies 92 173 317 501 993 1121 Government transfer payments 52 234 397 986 2141 2846 Interest payments 22 79 194 352 355 541 Net government investment 9 5 25 -3 49 4 Nominal GDP 860 2,352 4,339 9,631 14,449 20,580 Source: Bureau of Economic Analysis Assume the table above represents all federal government revenues and expenditures.Refer to table 1. Suppose the government has promised to pay $100 billion dollars in benefits 10 years from now.  Assuming an interest rate of 5%, what is the present discounted value (PDV) of the obligation?  Answer in billions of dollars, rounded to two decimal places.  (i.e. enter 3.13 as the answer for 3.13 billion). Do not enter a ‘$’ sign.

Scores on an exam are normally distributed with a mean of 80, and a standard deviation of 12 (mean=80 ±12). Choose ALL of the following that are correct.          

Table 1 Federal Government receipts and expenditures and nominal GDP, billions of dollars.   1967 1978 1984 1999 2009 2018 Tax receipts 108 280 410 1175 1124 1956 Other receipts 38 144 302 732 1116 1542 Government purchases and subsidies 92 173 317 501 993 1121 Government transfer payments 52 234 397 986 2141 2846 Interest payments 22 79 194 352 355 541 Net government investment 9 5 25 -3 49 4 Nominal GDP 860 2,352 4,339 9,631 14,449 20,580 Source: Bureau of Economic Analysis Assume the table above represents all federal government revenues and expenditures.Refer to table 1.  Of the years included, in which year was the deficit relative to GDP the greatest?