RELEVANT Magazine keeps records of traffic (like the number of weekly new visitors) to its Web site from various social networks such as Facebook and Twitter (Butcher 2011). In previous examples we constructed time-series plots of the number of weekly new visitors for the first nine weeks of 2011 from both Facebook and Twitter. Test for randomness using the runs test. The data is stored in the data file RELEVANT Magazine.

A Laura Russo lost her earnings statement from Siler's Lawn and Garden. She recalls paying $43.00 in federal income taxes and knows she deposited$306.36 in her checking account. Each week she had deductions for Social Security and Medicare taxes; $22.35 for medical insurance; 1.5% state tax; 1.5% local tax; and$25.00 for the credit union. What is her gross weekly pay?

Show the market for cigarettes in equilibrium, assuming that there are no laws banning smoking in public. Label the equilibrium private market price and quantity as $P_m$ and $Q_m$. Add whatever is needed to the model to show the impact of the negative externality from second-hand smoking. (Hint: In this case it is the consumers, not the sellers, who are creating the negative externality.) Label the social optimal output and price as $P_e$ and $Q_e$. On the graph, shade in the deadweight loss at the market output.

RELEVANT Magazine keeps records of traffic (such as the weekly number of new visitors) to its Web site from various social networks, such as Facebook and Twitter (Butcher 2011). Use a time-series plot to graph the number of unique page views by weekly new visitors to RELEVANT Magazine’s Web site by Facebook users over a recent 9-week period. The data are stored in the data file RELEVANT Magazine.

Base your answers on the reading "Ray Suarez." According to the article, how does Suarez stand out in his work in the broadcast news field? A. He can anticipate major political and social events. B. He can talk easily with both famous and ordinary people. C. He has an excellent memory and can make connections to other relevant topics. D. He doesn't get flustered in tense situations.

Consumer price index The projected consumer price index (CPI) for the years 2020 to 2050 can be approximated by a linear equation determined by the line connecting $(2020,120.56)$ and $(2050,276.05)$, where the $x$-coordinate is the year and the $y$-coordinate is the price consumers pay in year $x$ for goods that cost $\$ 100$ in $2012$ (Source: Social Security Administration).

(a) Write the equation of the line connecting these two points to find a linear model for these data.

(b) Interpret the slope of this line as a rate of change.

Match each lettered definition with the correct numbered item below. 3. system in which workers were tied to their jobs until they had paid off money that they owed to their employer a. Angel Island b. Jane Addams c. James A Garfield d. debt peonage e. Ellis Island f. Jim Crow laws g. National Grange h. poll tax i. Thomas Nast j. Social Gospel

Daniels Company engaged in the following transactions during 2020:

a. Purchased $25,000 of merchandise from XYZ Supplies on January 26. Amount due in full on February 28.

b. Paid for 40% of the purchased merchandise (Transaction a) on February 26.

c. On February 28, negotiate a payment extension with XYZ for the remainder of the balance from the January 26 purchase by signing a 1-year, 8% note.

d. Borrowed$300,000 on an 8-month, 9% interest-bearing note on July 31.

e. Purchased $150,000 of merchandise on August 2. Amount due in full on September 30.

f. Paid for the purchased merchandise (Transaction e) on September 28.

g. Received from Martel Inc. on October 4, a$40,000 deposit against a total selling price of $400,000 for services to be performed for Martel.

h. Paid quarterly installments of Social Security, Medicare, and individual income tax withholdings, as shown below, on October 10. The Social Security and Medicare were previously recorded as expenses during the quarter and the amounts paid represent both the employee and employer shares (50% each).

i. On December 15, Daniels completed the services ordered by Martel on October 4. Martel’s remaining balance of $360,000 is due on January 31.

Required:

1. Prepare journal entries for these transactions.

2. Prepare any adjusting entries necessary at December 31, 2020.

Demographers have been surprised that total fertility rates have fallen below 2.0, especially because most people in most countries tell pollsters that they would like to have at least two children. Can you think of any possible economic factors that may be causing women in so many countries to average fewer than two children per lifetime? What about other social or political changes?

To see whether a bank has enough minority construction company loans, a social agency selects $30$ loans to construction companies at random and finds that $2$ of them are loans to minority companies. If the bank's claim that $10$ of every $100$ of its loans to construction companies are minority loans is true, what is the probability that $2$ loans out of $30$ are minority loans? Leave your answer with combination symbols.

A social scientist would like to analyze the relationship between educational attainment (in years of higher education) and annual salary (in $\$ 1,000$ s). He collects data on 20 individuals. A portion of the data is as follows:

$$\begin{array}{|c|c|} \hline \text { Salary } & \text { Education } \\ \hline 40 & 3 \\ \hline 53 & 4 \\ \hline \vdots & \vdots \\ \hline 38 & 0 \\ \hline \end{array}$$

Interpret the coefficient for Education.

Identify the fallacies of relevance committed by the following arguments, giving a brief explanation for your answer. If no fallacy is committed, write “no fallacy.” Senator Barrow advocates increased Social Security benefits for the poor. It is regrettable that the senator finds it necessary to advocate socialism. Socialism defeats initiative, takes away promised rewards, and leads directly to inefficiency and big government. It was tried for years in Eastern Europe, and it failed miserably. Clearly, socialism is no good.

The following questions are the type your teacher might ask you on a quiz or a test. Practice with these in order to improve your performance on class tests.

Multiple-Choice Questions

If the _____ differ(s) between two countries, this suggests the possibility for mutually advantageous trade.

a. currency

b. exchange rate

c. availability of land, labor, human capital, and physical capital

d. level of government spending on social programs and national defense

The General Social Survey, run annually, asked respondents "Do you have in your home (or garage) any guns or revolvers?" The replies are shown in the table. (sda.berkeley.edu/cgi-bin/hsda? harcsda+gss10)

a) If we select a random person from this sample of 1270 adults, what is the chance that their response will be "No"?