Create a process map for withdrawing cash from an atm machine as described below: janet needed some cash and walks up to an atm machine. she inserts her debit card. the machine returns the card and the monitor reads: “could not read the card try again”. janet recognizes that she has entered the card in the wrong direction. she takes the card and turns it around and insert the card again. the machine keeps the card and the monitor reads: “enter pass code”. janet enters a 4 digit code. the monitor reads: “ error, try again”. janet enters the code again. the monitor displays: withdrawal? yes no janet selects yes. displays shows: “ $100, $200, $300, $400, $”. janet selects $200. the machine pushes out 10 $20 bills. monitor then displays “receipt? yes no”. janet selects no. monitor displays “take your cash” . the machine returns the card. display changes to “ you”. janet takes the cash and her card and walks away.

How does the economy of cuba differ from the economy of north korea? in north korea, the government’s control of the economy has begun to loosen. in cuba, the government maintains a tight hold over the economy. in cuba, the government’s control of the economy has begun to loosen. in north korea, the government maintains a tight hold over the economy. in north korea, there is economic uncertainty in exchange for individual choice. in cuba, there is economic security in exchange for government control. in cuba, there is economic uncertainty in exchange for individual choice. in north korea, there is economic security in exchange for government control.\

Bonds often pay a coupon twice a year. for the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amount of cash flow decreases by half. using the values of cash flows and number of periods, the valuation model is adjusted accordingly. assume that a $1,000,000 par value, semiannual coupon us treasury note with three years to maturity has a coupon rate of 3%. the yield to maturity (ytm) of the bond is 7.70%. using this information and ignoring the other costs involved, calculate the value of the treasury note:

Suppose that two firms produce differentiated products and compete in prices. as in class, the two firms are located at two ends of a line one mile apart. consumers are evenly distributed along the line. the firms have identical marginal cost, $60. firm b produces a product with value $110 to consumers.firm a (located at 0 on the unit line) produces a higher quality product with value $120 to consumers. the cost of travel are directly related to the distance a consumer travels to purchase a good. if a consumerhas to travel a mile to purchase a good, the incur a cost of $20. if they have to travel x fraction of a mile, they incur a cost of $20x. (a) write down the expressions for how much a consumer at location d would value the products sold by firms a and b, if they set prices p_{a} and p_{b} ? (b) based on your expressions in (a), how much will be demanded from each firm if prices p_{a} and p_{b} are set? (c) what are the nash equilibrium prices?