Please check my answers and provide explanation let me know the correct answer thank you

QUESTION 1

1. Retail Sales:

Go to the US Census Bureau and click on the following

https://www.census.gov/retail/index.html

Look at "Advance Monthly Retail Trade Report" and click on "Time Series (Adjusted Sales Data/Seasonal Factors- 1992 to present).Click on "Retail and Food Services-- Total."

(For Your Term Paper an explanation of "Total Retail and Food Services": This number gives you a peek into the present mood of the US consumer. It also gives you a heads up as to how the future GDP growth might be. Retail Sales are used to compute 'Personal Consumption Expenditure,' the 'C' in GDP. This indicator relates well to changes in Real GDP)

1.What is the dollar value of "Retail and Food Services, total" number for Sept. 2020? The number (IN MILLIONS OF DOLLARS) is an 'adjusted' estimate.

A.

538,979

B.

549,256

C.

526,889

QUESTION 2

1.Retail Sales:

Go to the US Census Bureau and click on the following

https://www.census.gov/retail/index.html

Look at "Advance Monthly Retail Trade Report" and click on "Time Series (Adjusted Sales Data/Seasonal Factors- 1992 to present).Click on "Retail and Food Services-- Total."

Question: In the same table, what is the general trend in 'Total Retail and Food Services' for the last three months i.e. July, August & Sept. 2020?

A.

Increasing from July to August and decreasing from August to Sept.

B.

Increasing all the way from July to September

C.

decreasing all the way from July to September

D.

Decreasing from July to August and increasing from August to Sept.

QUESTION 3

1. Retail Sales:

Go to the US Census Bureau and click on the following

https://www.census.gov/retail/index.html

Look at "Advance Monthly Retail Trade Report" and click on "Time Series (Adjusted Sales Data/Seasonal Factors- 1992 to present).Click on "Retail and Food Services-- Total."

Now look for "Total (excl. motor vehicle & parts Dealers).

Question: What is the general trend for this number for the last three months?

(Explanation for Term Paper:Since 25% of all retail spending goes towards motor vehicles and parts, and since this spending is very volatile i.e. changes very much month to month, "total,excludingmotor vehicles and parts," is a bettergaugeof the retail sales trend.)

A.

increasing every month

B.

decreasing every month

C.

Decreasing between July and August and decreasing between August and Sept.

D.

Increasing between July and August and decreasing between August and Sept..

QUESTION 4

1.Retail Sales:

Go to the US Census Bureau and click on the following

https://www.census.gov/retail/index.html

Look at "Advance Monthly Retail Trade Report" and click on "Time Series (Adjusted Sales Data/Seasonal Factors- 1992 to present).Click on "Retail and Food Services-- Total."

Click on "Gasoline Stations" numbers.

Question: What is the general trend for this number for the last three months and how much was spent in

this category in Jan. 2020?

(Explanation: High spending in this category will depress spending in other sectors.So an increase

in retail sales by itself may not be indicative of economic health.)

A.

Increasing between July and August and decreasing between August and Sept.,

$42,557 million

B.

decreasing between July and August and increasing between August and Sept.;

$42,295 million

C.

Increasing all the way;

$42,557 million

D.

Decreasing all the way;

$42,557 million

QUESTION 5

Retail Sales:

Go to the US Census Bureau and click on the following

https://www.census.gov/retail/index.html

Look at "Advance Monthly Retail Trade Report" and click on "Time Series (Adjusted Sales Data/Seasonal Factors- 1992 to present).Click on "Retail and Food Services-- Total."

Click on "Grocery Stores"

Question: What is the amount spent on grocery in September 2020

and during 2020 in which month was spending in this category the highest?

A

$62,702 million; March

B

$58,823 million;March

C

$62,660 million; January

QUESTION 6

1. WSJ Survey: 43% of Economists Don't See U.S. Gaining Back Lost Jobs Until 2023

ByHarriet TorryandAnthony DeBarros.Oct. 8, 2020 10:00 am ET

https://www.wsj.com/articles/wsj-survey-43-of-economists-dont-see-u-s-gaining-back-lost-jobs-until-2023-11602165600

Question: What are the stances of amajorityof economists surveyed by the Wall Street Journal, about the U.S. economy?

A. This election in 2020 is not creating as much uncertainty as other elections have in the past.

B. The job losses, particularly in the hospitality sector, are so bad that even if we get more aid and a second stimulus, they will not recover.

C. Labor market will take until 2023 to gain job losses due to the Virus and Real GDP will recover to its 2019 level by 2022

D. All of the above are predictions by a majority of economists surveyed by the Wall Street Journal.

QUESTION 7

1. U.S. Retail Spending Picked Up Strongly in September. By Harriet Torry. Sept. 16, 2020.

https://www.wsj.com/articles/us-economy-september-retail-sales-coronavirus-recovery-11602786924?mod=hp_lead_pos1

Question: Which of the following statement is false?

A. U.S. Industrial Production that measures output at factories, mines and utilities, fell 0.6% in September (seasonally adjusted number).

B. Consumer spending is below pre-pandemic levels but in-person services as dentist visits, travel and sporting has fully rebounded..

New applications for unemployment benefits, a proxy for layoffs, has risen last C. week to the highest level since late August, indicating that the economy is losing steam

D. Retail sales in September rose a seasonally adjusted 1.9% as compared to August. This is the fifth straight month of gain in retail sales growth.

QUESTION 8

1.Treasury Department Encouraged Banks to Prioritize Existing Customers for PPP Loans, House Panel Says.ByAmara OmeokweandRyan Tracy

Updated Oct. 16, 2020 5:52 pm ET

https://www.wsj.com/articles/treasury-department-encouraged-banks-to-prioritize-existing-customers-for-ppp-loans-democratic-report-says-11602861336

Question: According to the article, which of the following statements about the PPP loans are true?

A.According to a Democratic-led congressional oversight sub-committee, the Treasury Department encouraged lenders to prioritize existing customers when issuing loans for the federal government's small business Coronavirus Aid Program. A review of 8 of the largest banks show 7 of them limited lending to existing customers

B.The Treasury Department contested the report and said they encouraged banks to offer loans to existing customers but did not suggest that banks should exclude new customers. Bank executives' challenge was to process loans quickly and vetting new customers was a challenge.

C.Concern was raised by members of Congress from both parties, and SBA's own inspector general that PPP's implementation may have made it harder for minorities and business owners in rural areas to access these loans. A report by the FED of New York concluded that areas with high numbers of Black-Owned businesses may have received fewer PPP loans because of weaker relationships with financial institutions

D.All of the given statements are correct

QUESTION 9

1. U.S. Budget Gap Tripled to Record $3.1 trillion in fiscal year 2020; Treasury Says. By Kate Davidson. Oct. 16, 2020

https://www.wsj.com/articles/u-s-budget-gap-tripled-to-record-3-1-trillion-in-fiscal-year-2020-treasury-says-11602871210

Question: Historically the United States federal deficit has increased either during recessions or during its war efforts, as in 1945. However, it went up in the recent timeswhen the economy was in an expansion.What time was that and why did it go up?

A.The deficit has been climbing in the U.S. for the last five years. It went up due to the Republican tax cut of 2017 that reduced revenues, and due to two bipartisan budget deals that increased spending.

B.It went up in 2010 and was due to the passage of the 'Obamacare.'

C.Federal deficit went up in 2008 due to a tax cut by President Obama.

D.Both B and C are correct.

QUESTION 10

1. U.S. Budget Gap Tripled to Record $3.1 trillion in fiscal year 2020; Treasury Says. By Kate Davidson. Oct. 16, 2020

https://www.wsj.com/articles/u-s-budget-gap-tripled-to-record-3-1-trillion-in-fiscal-year-2020-treasury-says-11602871210

Question: Despite the increase in budget deficit to unprecedented levels why are economists not worried about it?

A.Economists believe that restoring economic growth should the first priority of the government and the "deficit figure is the result of six months of fighting the pandemic and its economic fallout."

B.The increase in deficit has not increased pressure on interest rates and has not increased inflation. Investors have not shown worry about this deficit since the interest rate on 10 year Treasury note does not show a huge increase.

C.There is little evidence that the ability of the United States to borrow has reached a limit. The debt issued by the U.S. Treasury is considered ultra safe and interest rates are at a historic low, meaning that the government has lower debt-servicing costs.

D.All of the above are reasons as to why economists are not worried about the deficit.