Suppose the reserve requirement in the United States is 10% and banks do not hold excess reserves. Suppose the Federal Reserve wants to increase the money supply by $50 million. (a) Briefly explain the appropriate open market operation the Fed would undertake to accomplish their goal. (b) What is the minimum amount of currency the Fed would need to add to the economy to accomplish their goal? (c) Explain why, in reality, the Fed may have to have to add more currency than the number you found in (b) to accomplish their goal. Think about the assumptions that would have to be true for the minimum amount of currency to increase the money supply by $50 million

Compute the cost of not taking the following cash discounts. (use a 360-day year. do not round intermediate calculations. input your final answers as a percent rounded to 2 decimal places.)

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e.g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.

When used-car dealers signal the quality of a used car with a warranty, a. buyers believe the signal because the cost of a false signal is high b. it is not rational to believe the signal because some used-car dealers are crooked c. the demand for lemons is eliminated d. the price of a lemon rises above the price of a good used car because warranty costs on lemons are greater than warranty costs on good used cars