Answer:
(a) Austin shipped goods FOB Shipping
Goods worth $ 800 is not to be included in inventory, as the title of the goods have passed to the buyer on shipping
Not to be included
(b) Louis Inc shipped goods to Austin on FOB shipping point worth $ 450 plus $ 30 for freight.
Austin is to record $ 450 as part of is inventory as the title has passed to Austin at shipping. The cost of freight is to be included as a cost by Austin as freight in.
To be included $450
(c) Designated for a customer $ 650 isolated in the warehouse to be shipped later.
This is not to be include In Austin inventory as the goods are kept on behalf of the customer. The goods are owned by the customer
Not to be included
(d) Austin had $ 700 goods kept on consignment in the warehouse.
Consignment goods are not part of the inventory of Austin (consignee) as the goods title is still with consignor
Not to be included
(e) Goods ordered on FOB Destination for $900
Not part of the inventory of Austin as goods title will only be passed when the goods reach Austin as the inventory is FOB destination
Not to be included
(f) Goods shipped on FOB destination $ 200 cost and selling price $ 350
Goods are still to be included in the inventory at $ 200 as the title will pass when the goods reach the destination
To be included $200
To determine whether the items should be included in Austin Limited's ending inventory, it depends on the shipping terms and the risk of loss transfer. Goods shipped under FOB shipping point to Austin are included at their invoiced cost plus any freight. Meanwhile, goods sent to customers under FOB destination or on consignment are not included in Austin's inventory.
Austin Limited is trying to determine the value of its ending inventory for the year-end on February 28, 2014. The inclusion of items in the inventory is dependent on the risk of loss transfer and the terms of shipping. Here's a breakdown of each transaction:
(a) FOB shipping point: The transaction is included in the customer's inventory as of February 28, because the risk of loss transfers to the customer once the goods are shipped. Austin Limited would not include this in its ending inventory.(b) FOB shipping point: These goods would be included in Austin's ending inventory, because the risk of loss passes to Austin when the goods are shipped. The inventory would be recorded at $480 ($450 + $30 freight).(c) Inventory designated for a customer: This inventory would still be included in Austin's ending inventory because the goods haven't been shipped nor has the risk of loss transferred. They should be valued at $650.(d) Consignment inventory: Goods on consignment should not be included in Austin's inventory. These goods remain the property of the consignor (Ryhn Producers) until sold.(e) FOB destination: These goods would not be included in Austin's ending inventory because they are still in transit and the risk of loss remains with the seller until the goods reach Austin's location.(f) FOB destination: The risk of loss has passed to the customer upon delivery (March 2), so this inventory is not included in Austin's ending inventory as of February 28.Remember, when determining whether an item should be included in ending inventory, it is crucial to consider the terms of shipping and when the risk of loss transfers from seller to buyer.
Touchtech earns revenue when edison purchases 100 shares, even if he purchases them from an existing shareholder.
Answer:
A. An increase in the perceived profitability of Touchtech will likely cause the value of Edison's shares to rise.
B. Expectations of a recession that will reduce economy-wide corporate profits will likely cause the value of Edison's shares to decline
Explanation:
The price of the stock changes only because of the changes in the profitability of the firm. If the company is earning lower profits then the prices of the stock will fall and vice versa. So the option A is correct because increase in profitability increases the value of the shares.
So the main thing here is the profitability of the firm which is affected by the recession in the economy because during the recession period the profitability of the firm decreases and so the value of the stock decreases. So the option B is correct
Transaction exposure and operating exposure exist because of unexpected changes in future cash flows. The difference between the two is that ________ exposure deals with cash flows already contracted for, while ________ exposure deals with future cash flows that might change because of changes in exchange rates.
Answer:
Transaction exposure deals with cash flows already contracted for, while operating exposure deals with future cash flows that might change because of changes in exchange rates
Explanation:
Transaction exposure deals with changes in cash flow due to default of counter party in making the amount promised available to our business at the contracted time.This would necessitates looking elsewhere for short-term funding,should the default arises.
On other hands,operating exposure results from fluctuation in exchange rate.If domestic exchange rate strengthens,the local equivalence of a foreign currency receivable in future reduces,hence the shortfall is due to operating exposure.
Transaction exposure is concerned with cash flows from existing contracts that may be affected by exchange rate changes, while operating exposure deals with how future cash flows might shift due to long-term exchange rate fluctuations.
Explanation:Transaction exposure and operating exposure are both linked to the unpredictability of future cash flows due to changes in exchange rates in international business. The difference between the two lies in how they're related to cash flows. Transaction exposure deals with cash flows already contracted for, such as a U.S. company that has signed a deal to buy Canadian lumber. This exposure is related to the risk of exchange rate changes between the time a contract is signed and when the transaction actually takes place. Operating exposure, on the other hand, concerns itself with future cash flows that might change because of long-term changes in exchange rates, affecting the firm's competitive position and future earnings.
Which of the following statements is true of direct ownership? It allows transfer of power and management to firms in host countries. It leads to the possibility of unauthorized diffusion of firm-specific know-how. It provokes protectionist responses from host countries. It provides a firm with equity ownership rights and management control rights.
Answer:
Direct ownership provides a firm with equity ownership rights and management control rights.
Explanation:
Direct Ownership refers to the ownership of an equity interest in an enterprise; such equity interest includes : the right to take part in the voting rights in that enterprise; the right to receive unburdened economic interest (such as dividends) entitled to the shareholders of that enterprise; and Broad-based BEE schemes, employee share option schemes (ESOPs) and other employee share schemes, where the beneficiaries have the the capacity to elect and remove trustees and also have the absolute right to receive economic benefits .
Thus, Direct ownership provides a firm with equity ownership rights and management control rights.
Direct ownership provides a firm with equity ownership rights and management control rights. The correct option is c.
Explanation:Direct ownership entails a firm's acquisition of assets or investment in another entity, granting it ownership rights such as control over management decisions and equity ownership. Unlike other forms of international business involvement like licensing or franchising, direct ownership allows firms to exercise significant control over their operations in host countries, including decision-making processes and strategic direction.
This level of control is advantageous as it enables firms to align business operations with their overall objectives and adapt to local market conditions efficiently. Therefore, direct ownership serves as a means for firms to establish a strong presence in foreign markets and exert influence over their business activities, making it a preferred strategy for expansion and market penetration.
To conduct a preelection opinion poll on a proposed amendment to the state constitution, a random sample of 10 telephone prefixes (first three digits of the phone number) was selected, and all households from the phone prefixes selected were called.
To conduct a preelection opinion poll on a proposed amendment to the state constitution, a random sample of 10 telephone prefixes (first three digits of the phone number) was selected, and all households from the phone prefixes selected were called "cluster sample".
Explanation:
A selection method which is applied in statistical populations where socially unified but internally diverse categories are obvious, understood as cluster screening. It is also used in studies into marketing. The total population is separated into those groups in this sampling program and a simple random selection of the groups is chosen.
For an instance, in a class of total strength, one need to analyse the interest of students for science and arts individually, so the group is divided accordingly in class, after separation the quality of knowledge art and science student carry is tested by simple random selection from such divisions.
The supply curve for a good will be more elastic if:
a. production inputs are readily available at a relatively low cost.
b. there is very little time for producers to respond to a price change.
Answer:
a. production inputs are readily available at a relatively low cost. Supply is said to be elastic when a small change in prices leads to a greater demand in the quantity of goods supplied. In this case Elasticity is greater than 1
Explanation:
Elasticity of supply measures the extent to which the quantity of a commodity supplied by the producer changes as a result of a little change in the price of the commodity. Elasticity of supply is the degree of responsiveness of supply to little changes in the price of a commodity
The company estimates future uncollectible accounts. The company determines $5,300 of accounts receivable on January 31 are past due, and 35% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 3% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) Record the adjustment for uncollectible accounts.
Answer: The adjustment for uncollectible amount will be: Debit Bad debt expense $1,958.35 Credit Allowance for bad debt $1,958.35.
Explanation: The answer above assumes that the balance in the account receivable is $5,300 not as past due. 35% of the account receivable balance is $1,855, resulting in an initial balance of $3,445, then further 3% of the balance will be $103.35. Therefore, the total bad debt expense will be $1,958.35. This will be debited to Bad debt expense and credited to Allowance for bad debt expense ledger. The credit to allowance for bad debt account is a balance sheet line and would further reduce the account receivable balance to $3,341.65.
Adjustment for uncollectible accounts, Journal entry: debiting Bad Debt Expense and crediting Allowance for Doubtful Accounts for the total estimated uncollectible amount of $2,296.
To determine the adjustment for uncollectible accounts, we need to calculate the estimated uncollectible amounts for both past due and not past due accounts receivable as of January 31.
Past Due Accounts Receivable:Total past due accounts receivable: $5,300Estimated uncollectible percentage: 35%Estimated uncollectible amount: $5,300 × 35% = $1,855Not Past Due Accounts Receivable:Total accounts receivable on January 31 (assumed balance from general ledger): [Let’s assume this is $20,000]Remaining accounts receivable (not past due): $20,000 - $5,300 = $14,700Estimated uncollectible percentage: 3%Estimated uncollectible amount: $14,700 × 3% = $441Adjustment Entry:
Total estimated uncollectible accounts = $1,855 + $441 = $2,296Journal Entry: Debit Bad Debt Expense $2,296 and Credit Allowance for Doubtful Accounts $2,296Common-size statements: Multiple Choice Reveal changes in the relative importance of each financial statement item to a base amount. Show the dollar amount of change for financial statement items. Do not emphasize the relative importance of each item. Compare financial statements over time. Reveal patterns in data across successive periods.
Answer:
Reveal changes in the relative importance of each financial statement item to a base amount
Explanation:
The common size statement refers to the financial statement in terms of balance sheet, income statement, cash flow statement, etc that determines the analysis between the companies of the same industry or different industry. It can be expressed in terms of percentage.
Therefore, in the common size statement it reveals the changes made with respect to the base amount
Kristin contracts with Jacob to buy a car through an online auction service. All of their negotiations and transactions are conducted electronically. None of their communications ever mention the Uniform Electronic Transactions Act (UETA), which was adopted by their state in its entirety in 2001. Their contract is _______.
Answer:
a)
Explanation:
The Uniform Electronic Transactions Act (UETA) is a law that was adopted in 1999 and completely guarantees that all electronic transactions are as enforceable in court as if they were paper transactions. Therefore based on the scenario being described within the question it can be said that their contract is automatically covered by the UETA.
Answer:
Hi your question lacks the options here is the complete question and answer
Kristin contracts with Jacob to buy a car through an online auction service. All of their negotiations and transactions are conducted electronically. None of their communications ever mention the Uniform Electronic Transactions Act (UETA), which was adopted by their state in its entirety in 2001. Their contract is _______.
a) automatically covered by the UETA.
b) covered by the UETA only if the transaction occurred after 2004.
c) covered by the UETA only if their contract involves computer information.
d) not covered by the UETA
Answer : Automatically covered by the UETA ( A )
Explanation:
UETA ( uniform electronic transaction act ) is an act proposed by the national conference of commissioners on uniform state laws which allows electronic transactions to be treated in the same way transactions made on paper are treated when there is a dispute in the transactions
The Uniform electronic transactions Act does not necessarily have to be mentioned in transactions conducted electronically between Kristin and Jacob once the transaction was conducted after the act have been adopted by the state i.e after 2001 hence their contract is automatically covered by the Act.
Although it can be expensive for businesses to implement operational efficiency, this cost produces greater quality results. For organizations with multiple divisions, developing processes once and repeating them saves time. True False
Answer:
False
Explanation:
Operational efficiency: It is defined as group of strategy and technique that management implement to produce goods and services at a cost-effective method, at the same time maintaining the standard and quality of product. The ratio of operational efficiency is measured by dividing total operational expenses with total revenue, it help to find the efficiency of the production or operation. It is helpful in improving process of production as well help in gaining more profit.
In the given situation, It is false to say that implementing operational efficiency can be expensive.
When other companies cannot duplicate the value provided by a competitor, then the competitor has established a(n) _____ competitive advantage. sustainable benchmark ambiguous VRIO
Answer:
sustainable competitive advantage
Explanation:
Sustainable competitive advantage -
It refers to the assets of a company , that are nearly impossible to replicate , is referred to as sustainable competitive advantage .
These assets or the abilities make the company to stand out from the rest of the companies in the competitive market .
And makes the company to excel and earn more profit than other companies .
Hence , from the given scenario of the question ,
The correct answer is sustainable competitive advantage .
Grayson was employed as a field technician servicing building HVAC systems, but because of a downturn in the economy, he was laid off from his job. After unsuccessfully trying to secure another field tech position, Grayson finally took a job as a stock employee at Home Depot. Which of the following best describes Grayson's situation?A. Grayson is underemployed.
B. Grayson is seasonally unemployed.
C. Grayson has downsized.
D. Grayson has secured job enrichment.
The statement A. Grayson is underemployed best describes the Grayson's situation.
Explanation:
A person is said to be underemployed if he works for low wage or works for the job that does not make use of his skills.
Underemployment occurs due to excess of labor availability in-spite of work demand. The technological change may also cause underemployment. Underemployment causes due to decline in the economy.
In the above scenario, Grayson was underemployed due to downturn in the economy. He previously worked as a field technician but he was laid off due to decline in economy. Later he was appointed as stock employee at Home Depot.
A bank statement has a beginning balance of $5,491.56, total debits of $1,130.00, and an ending balance of $5,329.53. What is the difference between the beginning balance and the ending balance?
Answer:
-$162.03
Explanation:
The change between the opening and closing bank balances is usually as a result of inflows (or deposits) into the bank and outflows (withdrawals) from the bank account.
While the debits are the withdrawals in the bank statements, the credit entries are the deposits.
The difference between the beginning balance and the ending balance
= $5,329.53 - $5,491.56
= -$162.03
This means that the total withdrawals was $162.03 more than the total deposits during this period.
Nominal GDP increased from $15.62 trillion to $16.09 trillion, and the price level increased from 120.0 to 122.4. The growth rate of real GDP was approximately: (Round to the nearest second decimal.)
Answer:
1.5%
Explanation:
Nominal GDP increased from $15.62 trillion to $16.09 trillion, and the price level increased from 120.0 to 122.4. The growth rate of real GDP was approximately:
Change in GDP = (16.09 - 15.62)/15.62 = 0.47/15.62 = 3%
Change in Price = (122.4 - 120.0) / 120= 2.4/120 = 2%
Growth in real GDP = 0.03/0.02 = 1.5%
The growth rate of real GDP was calculated by first finding the real GDP for both years using the nominal GDP and GDP deflator. Then, the difference between these real GDPs was found, with this difference divided by the first year real GDP, resulting in a growth rate of approximately 5.05%.
Explanation:The growth rate of real GDP can be calculated using the formula for GDP deflator and the nominal GDP. First, it's necessary to calculate the GDP deflator for the two years. The deflator for the year when GDP was $15.62 is 100 and for the year it was $16.09 trillion, the deflator is 120/122.4*100= 98.04.
So, next, we calculate the real GDPs for the two years using the formula Real GDP = Nominal GDP / GDP Deflator.
The real GDP for the first year is 15.62 trillion/100 = 15.62 trillion and the real GDP for the second year is 16.09 trillion/98.04 = 16.41 trillion.
Last, to get the approximate real GDP growth rate, we took the difference of the two real GDPs, divided it by the first year real GDP and multiplied the result by 100. ((16.41 trillion - 15.62 trillion)/ 15.62 trillion )* 100 = 5.05%. Therefore, the growth rate of real GDP was approximately 5.05%.
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Richard, an engineer, supervises the construction of a new mountainside roadway. When the road collapses in a landslide due to faulty grading, Richard is sued by motorists and hikers injured in the collapse. As a professional, Richard is held to the same standard of care as:_______.a. ordinary persons.
b. other engineers.
c. other professionals, including doctors, dentists, and lawyers.
d. those injured in the collapse of the bridge.
Answer: Other Engineers.
Explanation:
In the event of a bridge collapse the engineer that supervised the project would be held responsible because he/she was unable to avoid all possible factors that could have led to the bridge collapse, as is required in the engineering profession. Therefore, when supervising a construction job the engineer in charge has to ensure that all possible factors that can lead to structure failure is eliminated.
If a diversified firm had three businesses and these companies shared a common marketing and service operation, as well as common technology and development, this would be an example of economies of scope:__________
Answer:
true, it reduces costs by sharing activities
Explanation:
In this case, since the diversified firm has three different businesses that share common marketing and service operations, it is benefiting from a type of economies of scope called shared activities.
Economies of scope basically refers to saving money when producing two or more goods or services by using common production processes in order to reduce costs. The joint production of the goods or services will cost less than if the company produced each one separately.
This company is benefiting from using shared activities because one single marketing unit and another single operations unit will serve the three separate businesses.
Suppose that 300 bottles of soda are demanded at a particular price. If the price of a bottle of soda rises from that price by 6 percent, the number of bottles of soda demanded falls to 275. Using the midpoint approach to calculate the price elasticity of demand, it follows that the a. demand for bottles of soda in this price range is perfectly elastic. b. price increase will increase the total revenue of soda sellers. c. price elasticity of demand for bottles of soda in this price range is about 0.69. d. price elasticity of demand for bottles of soda in this price range is about 1.45.
Answer: Price elasticity of demand for bottles of soda in this price range is about 1.45. Option D
Explanation: First, we calculate the price elasticity using the midpoint approach thus.
((Q1 - Q2) ÷ ((Q1 + Q2)/2)) / ((P1 - P2) ÷ ((P1 + P2)/2)).
But we already know the percentage increase in price as 6% or 0.06 for further calculations. Therefore, we have:
(300 - 275) ÷ (300 + 275)/2
= 25 ÷ 287.5
= 0.087 or 8.7%
Price elasticity is therefore:
0.087/0.06
= 1.45
Therefore the correct option is D.
The price elasticity of demand for bottles of soda using the midpoint approach is approximately 1.45, indicating that demand is price elastic. Thus, an increase in price would lead to a decrease in total revenue.
Explanation:To determine the price elasticity of demand for bottles of soda, we will use the midpoint approach. The formula for the midpoint elasticity is:
Elasticity = (Percentage change in quantity demanded) / (Percentage change in price)
Change in quantity = 275 - 300 = -25Midpoint quantity = (275 + 300) / 2 = 287.5Change in price = 6% (as the price increases by 6%)The percentage change in quantity demanded is (-25 / 287.5) × 100 = -8.6957%.
Now, we calculate the elasticity:
Elasticity = (-8.6957) / 6 ≈ -1.4493
The demand is price elastic if the absolute value of the elasticity is greater than 1, which means that the quantity demanded changes by a greater percentage than the change in price. Hence, choice d, stating that the price elasticity of demand for bottles of soda in this price range is about 1.45, is correct. This demonstrates that a price increase will indeed lead to a change in quantity demanded by a proportionately larger amount, thus affecting the total revenue with a decrease.
A marketing specialist needed to find a new way of marketing the company's main product to its potential clients. While watching a movie one evening, the marketing specialist saw a scene that gave her inspiration for a new marketing plan. According to the creative process model, which of the following is the next stage in the creative process after such inspiration?A. preparation.
B. incubation.
C. verication.
D. insight.
E. morphological analysis.
According to the creative process model, verification is the next stage in the creative process after such inspiration.
Option: C
Explanation:
The creative process can be split into four phases: planning, incubation, enlightenment and verification. During the first level, data is collected from your brain. After all, new ideas aren't coming out of a vacuum. You let your mind wander in the second level, and spread your thoughts.
You'll make links between thoughts in the third level. In the fourth level, critical thought needs to refine new ideas in order to address their target convincingly. Such creative method offers the complete technique to give birth to new ideas from just a hint.
The next stage in the creative process model after receiving inspiration is incubation. Incubation is a period of unconscious thought where the problem is put aside for a while and conscious attention is directed elsewhere. After incubation, the creative product enters the conscious awareness in a moment of insight, which is followed by the stage of verbalizing and communicating the idea.
Explanation:The next stage in the creative process model after receiving inspiration is incubation.
Incubation is a period of unconscious thought where the problem is put aside for a while and conscious attention is directed elsewhere. This stage allows the mind to process and develop ideas subconsciously.
After incubation, the creative product enters the conscious awareness in a moment of insight, which is followed by the stage of verbalizing and communicating the idea.
On its December 31, 2017, balance sheet, Oriole Company reported its investment in equity securities, which had cost $510000, at fair value of $488000. At December 31, 2018, the fair value of the securities was $504000. What should Oriole report on its 2018 income statement as a result of the increase in fair value of the investments in 2018?
Answer:
$16,000
Explanation:
Given that,
Cost of investment in equity securities on December 31, 2017 = $510,000 and Fair value = $488,000
Fair value of the securities on December 31, 2018 = $504,000
Unrealized gain:
= Fair value of the securities on December 31, 2018 - Fair value of investment at December 31, 2017
= $504,000 - $488,000
= $16,000
Therefore, the Oriole should report unrealized gain of $16,000 on its 2018 income statement as a result of the increase in fair value of the investments in 2018.
On August 1, Greene Company purchased merchandise inventory on account with a list price of $25,000 and credit terms of 2/10, n/30. What is the correct journal entry to record the August 1 purchase?
Answer:
August 1, merchandise purchased on account 2/10, n/30
Dr Merchandise inventory 25,000
Cr Accounts payable 25,000
Explanation:
If Greene paid within the discount period, the journal entry to record the payment would be:
August 2-11, payment of accounts payable
Dr Accounts payable 25,000
Cr Cash 24,500
Cr Purchase discounts 500
If Greene didn't paid within the discount period, the journal entry to record the payment would be:
August 20, payment of accounts payable
Dr Accounts payable 25,000
Cr Cash 25,000
A small company that manufactures rubber boots is selecting a method to forecast demand for the next 10 years. The company recently expanded its facilities, doubling its capacity. Which of the following forecasting methods would be preferred?
A. Qualitative
B. Simple exponential smoothing
C. Econometric
D. Box-Jenkins
Answer:
A) Qualitative
Explanation:
Qualitative forecasting relies on expert judgment (AKA experience) instead of numerical analysis. Qualitative forecasting will be carried out by experienced employees and they will use their own working experience to calculate any possible future outcomes. This type of forecasting is specially useful for long term investments that are difficult to quantify using numerical analysis.
Cheese manufacturer Ashe Mountain Corp. started a new chain of movie theaters called Ashe Mountain's Movie World. The theaters have been a major success and significantly increased the revenues of Ashe Mountain Corp. This is an example of:___________________.A. DiversificationB. Market developmentC. Product penetrationD. DifferentiationE. Market penetration
Answer:
A) Diversification
Explanation:
In business, diversification happens when a company decides to expand its business activities to other markets or products that are not related to its current or main business activities.
In this case, Ashe Mountain's main business activity was producing cheese, and they decided to diversify into entertainment through movie theaters which do not have type of relationship with cheese.
The correct answer is A. Diversification. This is an example of diversification.
Diversification refers to a growth strategy where a company enters into a new market or industry with a new product. In this case, Ashe Mountain Corp., originally a cheese manufacturer, has expanded its business by starting a new chain of movie theaters, which is unrelated to its original product line. This move represents diversification because the company is venturing into a completely different sector (entertainment) from its core business (cheese manufacturing).
Let's analyze the other options to understand why they are not the correct choice:
B. Market development: This strategy involves selling existing products to new markets. If Ashe Mountain Corp. had started selling its cheese in movie theaters, that would be market development.
C. Product penetration: This term is not commonly used in business strategy. However, if it were to mean increasing sales of existing products in existing markets, then it would not apply here because the company has entered a new market.
D. Differentiation: This strategy involves modifying existing products to make them different from competitors' products. This does not apply to the scenario because the company has not altered its cheese products but has instead entered an entirely new industry.
E. Market penetration: This strategy involves increasing market share within existing markets with existing products. This would not apply to Ashe Mountain Corp. as they have not increased their presence in the cheese market but have instead entered the movie theater industry.
Therefore, the correct answer is A. Diversification, as it accurately describes the strategy of entering a new, unrelated market with a new product or service.
According to the United Nations’ stages of economic development for classifying countries based on levels of industrialization, Canada falls under the category of ________ countries. Multiple Choice Third World least-developed more-developed less-developed pre-emerging
Answer:
More Developed Country
Explanation:
The MDC is the country which has more developed economy in terms of its output, technology, per capita income, etc and as a result its people are heading towards more better future than most of the other countries. This makes it more better than the other countries because the living standard, health facilities, education reforms, etc of the country are better than developed countries or under developed countries.
Answer:
Canada falls under the category of MAJOR DEVELOPED countries. (more developed is not a category).
Explanation:
The United Nations classifies all countries of the world into one of three broad categories:
developed economies economies in transition developing economiesThis categories are also divided into subcategories, Canada and the US are categorized as Major Developed Economies of G7 countries (along with Japan , France, Germany, Italy and the United Kingdom).
Major developed countries are countries with relatively large economies (not the largest in absolute size), with high GDP per capita (also not the highest absolute GDP per capita), and with high living standards.
Some countries may have higher economic indicators, but are not part of the G7 group because they fall behind in others. For example, China is the second largest economy, but its GDP per capita and living standards are low. Qatar has the highest GDP per capita in the world, but the living standards of the vast majority of the population are extremely low, the wealth is held by a small percentage of the population.
Other countries like Luxembourg, Monaco, Switzerland, Finland, etc., have very high GDP per capita and very high living standards, but the size of their economy is relatively small.
Real per capita GDP in Singapore in 1960 was about $450, but it doubled to about $900.00 by 1977. a. What was the average annual economic growth rate in Singapore over the 17.00 years from 1960 to 1977? (NOTE: Round this to two places past the decimal point.)
Answer:
4.16%
Explanation:
to calculate Singapore's economic growth rate we can use the future value formula (we could also use the rule of 72 but it is not very exact):
future value = present value x (1 + r) ⁿ
future value = 900present value = 450n = 17r = ?900 = 450 (1 + r)¹⁷
(1 + r)¹⁷ = 900 / 450 = 2
1 + r = ¹⁷√2 = 1.0416
r = 1.0416 - 1 = 0.0416 or 4.16%
Economists say competitive markets are efficient because:
a. by producing in the output range where MB > MC, profits are earned and the difference between consumer surplus and producer surplus is maximized.
b. by producing in the output range where MB < MC, profits are reduced and the difference between consumer surplus and producer surplus is maximized.
c. by producing up to the point where MB > MC, profits are earned and the difference between the consumer surplus and producer surplus is maximized.
d. by producing up to the point where MB = MC, profits are maximized and the difference between the consumer surplus and producer surplus is maximized.
Answer:
d. by producing up to the point where MB = MC, profits are maximized and the difference between the consumer surplus and producer surplus is maximized
Explanation:
An economist says that the competitive markets are more effective due to the fact that the profits are maximized and this is shown the difference between the consumer surplus and producer surplus. Where the marginal benefit is equal o the marginal costs.Competitive markets are efficient when they produce up to the point where the marginal benefit equals the marginal cost (MB = MC), maximizing profits and the difference between consumer and producer surpluses.
Explanation:Economists claim that competitive markets are efficient precisely because of answer option 'd': they operate up until the point at which marginal benefit (MB) equals marginal cost (MC). When MB = MC, this indicates that resources are being utilized most efficiently and that profits are being maximized. The reason for this balance is because the cost of producing an additional unit of a product or service (MC) is identical to what consumers are willing to pay for that unit (MB). Also, where MB equals MC is the prime point at which the variation between consumer surplus and producer surplus is maximized. Consumer surplus is the gap between what consumers are ready to pay and what they actually pay, and the producer surplus is difference between the lowest price a firm would be willing to accept and the actual price it receives.
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Hope College is planning for the next biennium. School administrators know that the enrollment is on the decline, but still need to offer students the best experience possible. They want to shrink their payroll slowly. They can accomplish this through
They can accomplish this through early retirement.
Explanation:Early retirement is a way that we use to stop or discontinue something. Most of the aged person tends to choose early retirement for the purpose of achieving the benefits form the organisation to the most possible level. This decision can be taken when we know that the organisation will be closed in the near future and continuing work will not benefit us.
When we decide for the early retirement the befits that we attain from that will be more than the benefit that are obtained in continuing work. In the given example, Hope college has a plan for next biennium. But, the enrollments are reduced in number and they want to reduce the payroll slowly. Thus this can be accomplished with the help of early retirement.
Which of the following is not true regarding economic exposure? a. The impact of a change in the local currency on inflow and outflow variables can sometimes be indirect and therefore different from what is expected. b. In general, depreciation of the firm's local currency causes a decrease in both cash inflows and outflows. c. Even purely domestic firms can be affected by economic exposure. d. The degree of economic exposure will likely be much greater for a firm involved in international business than for a purely domestic firm.
Answer:
Option A The impact of a change in the local currency on inflow and outflow variables can sometimes be indirect and therefore different from what is expected.
Explanation:
The reason is that the changes in the currency exchange rate in which the company receives the payment and is also not a home currency, such risk exposure is known as economic exposure. So the only option that correct here is option A.
Option B is incorrect because depreciation is non cash item and it is not exposed to currency fluctuations.
Option C and D are also incorrect because domestic firms don't face any economic exposure.
Vernon spends the following percentages of his budget on the following goods: 23 percent on good A, 11 percent on good B, 1 percent on good C, and 3 percent on good D. For which good is price elasticity of demand the highest, ceteris paribus?a. good A.
b. good B.
c. good C.
d. good D.
Answer:
a. good A.
Explanation:
Data provided in the question
Spending percentage are as follows
For goods A = 23%
For goods B = 11%
For goods C = 1%
For goods D = 3%
Now the highest price elasticity of demand by ceteris paribus that means all other things would remain unchanged or constant
Since, Goods A has the highest spending percentage so it would lead to the highest price elasticity of demand
The Clyde Corporation's variable expenses are 35% of sales. Clyde Corporation is contemplating an advertising campaign that will cost $28,000. If sales increase by $89,000, the company's net operating income will increase by:
Answer:
$29,850
Explanation:
The computation of the increase in net operating income is shown below:
= Increase in sales - increase in variable expenses - advertising cost
where,
Increase in sales = $89,000
Increase in variable expenses is
= $89,000 × 35%
= $31,150
And, the advertising cost is $28,000
So, the increase in operating income is
= $89,000 - $31,150 - $28,000
= $29,850
To calculate the increase in net operating income, multiply the sales increase by the operating margin and subtract the current net operating income.
Explanation:To calculate the increase in net operating income, we need to first determine the additional sales generated by the advertising campaign. Since variable expenses are 35% of sales, we can use this information to calculate the increase in net operating income:
Therefore, if sales increase by $89,000, the company's net operating income will increase by $31,150.
if demand for the good decreases creating economic losses firms will exit the industry in the long run as firms exit in the long run industry supply will _ and market price will _
Answer:
The correct answer is: decrease; increase.
Explanation:
There is a decrease in demand when the curve shifts to the left and down. It is determined by:
Decrease in consumer income
Increase in the price of complementary goods
Decrease in the price of substitute goods
Change of consumer preferences.
The decrease in demand means that even the same price, less quantity of the good is demanded or when the price decreases buying the same quantity of the good.
Which of the following is the best thing to consider when making comparisons between job offers? a. gross pay b. total employee benefits c. total job benefits d. total employment compensation Please select the best answer from the choices provided A B C D
Answer:
Option "D" is the correct answer to the following statement.
Explanation:
Compensation of employees shall be specified as overall pay, in money or another form of income, owed by the company or business to the individual employee in exchange for the work performed by the individual employee within a year or operating period.
In job offers, the Person wants all kinds of living standards provided by Business.
So, the Compensation of employees makes a huge impact on job offers.
The best thing to consider when making comparisons between job offers is the total employment compensation.
What Is Total Employment Compensation ?Total Employment compensation is a term which is used to describe all forms of monetary payments and non monetary compensation which a new job offers to a prospective employee.
This includes base salary, incentives and any other add on for the employee.
Learn more about Total employment compensation at https://brainly.com/question/5754068
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