Answer the following statements true (T) or false (F)

1. The U.S. is highly sensitive to increasing interest rates.

2. The U.S. farm sector is characterized by a large number of large, highly capitalized farming

operations.

3. A major change in farm program policy forthcoming in the 2014 farm bill involves greater

reliance on property insurance as a means of providing a safety net to farmers.

4. Given the graph below, the total demand curve suggests that an absence of export demand

would increase domestic consumer surplus.



5. Given the graph below, the gain in producer surplus as a result of the addition of export demand is equal to area 2 plus area 3 which are gained from domestic and international consumers.


1 TRUE
2. TRUE
3. FALSE
4. TRUE
5. TRUE

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Most women workers of the 1890s worked

A. to achieve financial independence. B. for the cultural glamour of being a working woman in American society. C. for economic necessity. D. to accumulate their retirement savings. E. because their husbands preferred that they work.

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Indicate whether the statement is true or false

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What will be an ideal response?

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The article “Modeling Arterial Signal Optimization with Enhanced Cell Transmission Formulations” presents a new method for timing traffic signals in heavily traveled intersections. The effectiveness of the new method was evaluated in a simulation study. In 50 simulations, the mean improvement in traffic flow in a particular intersection was 654.1 vehicles per hour, with a standard deviation of 311.7 vehicles per hour.

a. Find a 95% confidence interval for the improvement in traffic flow due to the new system. b. Find a 98% confidence interval for the improvement in traffic flow due to the new system. c. A traffic engineer states that the mean improvement is between 581.6 and 726.6 vehicles per hour. With what level of confidence can this statement be made? d. Approximately what sample size is needed so that a 95% confidence interval will specify the mean to within ±50 vehicles per hour? e. Approximately what sample size is needed so that a 98% confidence interval will specify the mean to within ±50 vehicles per hour?

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