________________ is/are the most severe illness in pre-schoolers’.  

Children with a__________ are usually of normal or above intelligence but have difficulties in at least one academic area.

When John gets into trouble, his parents use strict discipline and do not allow him to tell his side of the story. Matt’s parents use ___________ parenting.                                                                                                                                    

________________ is the belief that inanimate objects are “alive” and are capable of feeling/actions.    

_______________ is a child’s ability to concentrate one particular event or thing.    

Note: Please clearly label your answers submission sheet by section (Parts 1-4) and question number so it is straightforward to grade.  Part 2: Cutting Taxes (36 points, 3 each) The Republican controlled congress is currently proposing various bills to cut taxes. Assume we permanently cut labor income taxes in our model. Assume that the income effect on labor supply is the same as the substitution effect on labor supply, like most empirical evidence suggests. Assume that households are PIH and they care about the PVLR of their after-tax earnings when making consumption decisions. Let’s first consider the short-run and then the long-run adjustment under the self-correcting mechanism.   1. In the short-run: Consumption will rise Consumption will be unchanged Consumption will fall The effect on consumption is ambiguous   2. In the short-run: Prices will rise and output will rise Prices will rise and output will be unchanged Prices will rise and output will fall Prices will fall and output will fall Prices will fall and output will be unchanged Prices will fall and output will rise The effect on prices and output is ambiguous   3. In the short-run: Employment will be unchanged Employment will increase Employment will decrease The effect on employment is ambiguous   4. In the short-run: The IS Curve shifts right and the LM curve shifts right The IS curve shifts right and the LM curve doesn’t shift The IS curve shifts right and the LM curve shifts left The IS curve shifts left and the LM curve shifts right The IS curve shifts left and the LM curve doesn’t shift The IS curve shifts left and the LM curve shifts left   5. In the short-run: Investment rises and consumption falls Investment rises and consumption is unchanged Investment rises and consumption rises Investment falls and consumption falls Investment falls and consumption is unchanged Investment falls and consumption rises   6. In the long-run (comparing to the initial point): Y* will rise Y* will be unchanged Y* will fall The effect on Y* is ambiguous   7. In the long-run (comparing to the initial point): Prices will fall Prices will stay the same Prices will rise The movement in prices is ambiguous   8. In the long-run (comparing to the initial point): The after tax real wage will rise The after tax real wage will be unchanged The after tax real wage will fall The effect on after tax real wages is ambiguous   9. In the long-run (comparing to the initial point): Investment rises and consumption falls Investment rises and consumption is unchanged Investment rises and consumption rises Investment falls and consumption falls Investment falls and consumption is unchanged Investment falls and consumption rises   10. In the long-run (comparing to the initial point): The structural deficit rises The structural deficit is unchanged The structural deficit declines The effect on the structural deficit is ambiguous   When these tax cuts were first implemented in 2017, they were set to expire in 2025. This means that under current law, taxes are set to increase at the end of 2025. However, “temporary” tax cuts in the past have typically been extended, so many households might be expecting the tax rates from 2017 to continue into the future. Suppose that the 2017 tax cuts get extended through new legislation this year, but that people already expected those tax rates to continue before this new legislation was passed.   11. In the short-run: Consumption will rise Consumption will be unchanged Consumption will fall The effect on consumption is ambiguous   12. In the short-run: Output will rise Output will be unchanged Output will fall The effect on output is ambiguous

Answer the following TWO questions: 1.) What were the 4 events that led to the American Revolution (provide details on each one), and 2.) what were some of the key differences between the Articles of Confederation and the U.S. Constitution?

Bonus Question (5 points) An economist wants to analyze the impact of self-driving taxi services on the demand for Uber and Lyft. To do so, the economist applies (1) __________ (a. linear regression, b. discrete choice model, c. supervised learning) to measure the marginal effect of self-driving taxi demand on Uber and Lyft. Here, Uber and Lyft’s demand is treated as a continuous dependent variable. Next, the economist seeks to estimate potential consumers’ willingness to pay for self-driving taxi services with personalized music options (e.g., allowing consumers to listen to their preferred songs while riding an AI-powered taxi). To measure willingness to pay, the economist surveys respondents, asking whether they would be willing to pay $2 per mile for a self-driving taxi. Each respondent can answer “Yes (=1)” or “No (=0)”, making this a discrete dependent variable in the willingness-to-pay estimation. Based on the survey results, the economist applies (2) ___________ (a. linear regression, b. logistic regression, c. supervised learning) to estimate consumers’ willingness to pay. This approach, known as the contingent valuation method (CVM), is commonly used to estimate willingness to pay for non-market goods (e.g., clean air) and newly introduced products. The methods used in (1) and (2) rely on (3) _________________ (a. in-sample prediction for interpretation, b. out-of-sample prediction for prediction). Now, the economist aims to forecast the demand for self-driving taxis, Uber, and Lyft in 2026. To predict continuous demand variables for 2026, the economist can use (4) ___________________ (a. linear regression, b. logistic regression, c. supervised learning) for (5) _______________________ (a. in-sample prediction for interpretation, b. out-of-sample prediction for prediction). In sum, (1) is for market and firm-level analysis. (2) is for pricing strategies and consumer welfare analysis. (3) is for forecasting market trends. By applying these methods, the economist can gain insights into consumer behavior, firm strategies, and market dynamics, leading to more informed, data-driven decisions regarding price, product, placement, and promotion (i.e., the 4Ps in marketing).

Note: Please clearly label your answers submission sheet by section (Parts 1-4) and question number so it is straightforward to grade.  Part 4:   True/False/Uncertain with explanation (30 points, 5 each) In this section, answer whether the statement is True, False or Uncertain and explain why. Note: assume that any statements written in italics are true, these are just setting up relevant scenarios. You must explain your answer. Explanation determines the grade!!   Imagine the economy is at potential Y*. With contractionary monetary policy (decreasing M), the Fed can permanently reduce the price level, by accepting a temporary recession (Y

  Which of the following supported Philip II in his creation of a disciplined army and new military technology?