An economy begins in long-run equilibrium, and then a change in goverment regulations allows banjs to start paying interest on checking accounts. recall that the money stock is the sum of currency and demand deposits, including checking accounts, so this regulatory change makes holding money more attractive.

a-How does this change affect the demand for money?

b-What happens to the velocity of money?

c-If the Fed keeps the money supply constant, what will happend to the output and prices in the short run and in the long run?

d-If the goal of the Fed is to stabilize the price level, should the Fed keep the money supply constant in response to this regulatory change?if not, what should it do? Why?

e-If the goal of the Fed is to stabilize output, how would your answer to part(d) change?

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Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows.direct materials $280,000direct labor fabricating department (8,000 dlh × $24 per dlh) $192,000assembly department (16,600 dlh × $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow.fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.