For each shock identified below, shift the AD curve, the SRAS curve, or both to show its effects on aggregate demand and/or aggregate supply. Then move point E to the new short-run equilibrium to indicate the new price level P and output Y. Assume the economy starts out in long-run equilibrium. a. An exogenous decrease in the velocity of money. Price Level (Y) Output (Y) LRAS AD SRAS E b. An exogenous increase in the price of oil. Price Level (Y) Output (Y) 0 1 2 3 4 5 6 7 8 9 10 0 1 2 3 4 5 6 7 8 9 10 LRAS SRAS AD E c. Now consider how the goals of the Fed influence its response to these shocks. Suppose that in scenario A, the Fed cares only about keeping the price level stable, whereas in scenario B, it cares only about keeping output and employment at their natural levels. Place scenario A and scenario B in the appropriate category describing the Fed's proper response to a decrease in the velocity of money.

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance

Which of the following is one of the advantages primarily associated with a performance appraisal? (a) it protects employees against discrimination on the basis of race. (b) it motivates employees to work on their shortcomings. (c) it encourages employees to play the role of the whistle-blower. (d) it accurately measures the resources of the firm.

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6