Answer:
The risk of being the first mover can be a few. The first and most important of all is the copy effect. Competitors, seeing the success the first mover is having, will try to copy and improve upon said new technique. Another one is that being the first mover is expensive since it is the first one to invest in new techniques. And, with that cost, comes the risk of losing investment in something that we can't know if it will make success because there's no history about it. We can mention regulatory resistance as well since depending on what new technique it is, it can be harder to obtain a regulatory license for it.
The two major forms of employee involvement are participative management and ________. 1. job sharing 2. job rotation 3. representative participation 4. job enlargement 5. organizational restructuring"
Answer:
3. representative participation.
Explanation:
Participative management refers to the kind of management where the employees take part in the decision making and brainstorming session together to achieve a common goal.
Representative participation is virtually when rare opportunities are given to employee of an organisation to make decision ,carry out core values all in line of pursing the common organisational goal.
Mildred, the marketing manager of an automobile manufacturing company, is responsible for pricing products, conducting market research, and designing advertising campaigns and promotional activities for the company. In the context of organizational authority, which of the following functions does Mildred most likely perform?
A) Line function
B) Staff function
C) Support function
D) Advisory function
Answer:
LINE FUNCTION
Explanation:
In management, a line function is any kind of daily operation that covers purchasing, manufacturing, and selling that is directly involved in carrying out the purpose of an organization.
Mildred, the marketing manager of an automobile manufacturing company, is responsible for pricing products, conducting market research, and designing advertising campaigns and promotional activities for the company.
Mildred's functions according to above definition involves selling; and she is directly involved in carrying out the purpose of an organization. Hence she performs a line function
Answer:
Option A; LINE FUNCTION
Explanation:
In management, line function is any kind of daily operation such as purchasing, manufacturing and selling that is directly involved in carrying out the purpose of an organization. If line function is interrupted, it affects customers or profits.
Line function is directly involved in the core work of an organization to ensure the organization meets its business objectives.
* Staff function involves the provision of advice and other support to those involved in a line action.
* Support function are supporting activities carried out by an organization in order to permit or to facilitate the core business functions, its production activity.
Therefore, Mildred most likely performs LINE FUNCTION.
Amber is working as a sales associate in a department store. When a few high-priced products are found missing from the store, Amber is accused of theft and fired from the job. Neither an investigation is conducted nor is Amber allowed to explain herself. Which of the following is true of the given scenario?
a. Amber's right to arbitration has been violated.
b. Due process has not been followed by the employer.
c. Amber's statutory rights are upheld.
d. Amber is not given the option of involuntary turnover
Answer: Due process has not been followed by the employer.
Explanation:
Amber's employers did not follow due process in sacking her from her job, as there was no proper investigation into how the costly items got missing. Due process is the right steps that needs to be followed before taking an action, and in Amber's case due process includes a proper investigation to know how items got missing before taking decisive actions.
Option B is the correct option i.e., Due process has not been followed by the employer. Amber's situation exemplifies a violation of due process, as she was not given the chance to defend herself or go through a fair investigative process by her employer. Similar protections are seen in constitutional amendments that safeguard individuals' rights in various legal scenarios.
In the presented scenario, the most accurate statement is that due process has not been followed by the employer. Amber was not given the chance to defend herself, nor was an investigation conducted, which constitutes a violation of due process rights.
The case scenarios given, including the situations with Sara, Mr. Jones, Carolyn, and Mr. Reynolds, also highlight various aspects of constitutional protections, such as the right to a fair trial and legal representation, against unreasonable search and seizure, and protection from cruel and unusual punishments. These scenarios encompass amendments including the 5th, 6th, and 14th Amendments, which allude to due process and the protection of individual rights within the legal system.
In employment, just like in criminal cases, due process typically entails the right to a fair procedure before being deprived of employment (liberty or property) and can involve mechanisms such as an internal investigation or a chance to be heard, which were not afforded to Amber.
Caroline Watts is an employee of Lavender Creek Farm. She has come to you, the payroll accountant, for advice about her health insurance premiums, specifically if she should have them deducted pre-tax or post-tax.
Required:
What reason(s) would you give her for having the medical premiums deducted on a pre-tax basis?
Caroline Watts is an employee of Lavender Creek Farm. She has come to you, the payroll accountant, for advice about her health insurance premiums, specifically if she should have them deducted pre-tax or post-tax.
Required:
What reason(s) would you give her for having the medical premiums deducted on a pre-tax basis?
All health insurance premiums must be deducted on a pre-tax basis.checked
The premium amounts are reduced by deducting them on a pre-tax basis.checked
The employee’s income that is subject to income tax(es) is reduced.checked
The income subject to Social Security and Medicare taxes is reduced.
Answer:
All health insurance premiums must be deducted on a pre-tax basis.
The premium amounts are reduced by deducting them on a pre-tax basis.
The employee’s income that is subject to income tax(es) is reduced.
Explanation:
Health care premiums are deducted on a pre-tax basis, reducing the amount that both employees and employers must pay on federal income taxes, state taxes and FICA taxes.
Since your health premiums reduce your total taxes, they real amount you pay for them is reduced. Similar logic to interests paid by a company that reduce corporate taxes.
The large network purchases are done:________.
a) before the vendor(s) are selected
b) before the RFP is sent out
c) after the RFP is sent out, but before the vendor(s) are selected
d) after the vendor(s) are selected
e) after the network has been implemented
The large network purchases are done "after the vendor(s) are selected".
Option: D
Explanation:
The large network is established when their are large number of or good amount of small networks, having similar objective and may be different sector. For an instance, a bank establishment occur generally when two or three individuals are having small banks in finance or insurance sector but when they combine together similar services are provided but merger took place to widen the network and work more efficiently. Large network can generate opportunity to work globally also, with better turnover and growth.
The large network purchases are done: after the vendor(s) are selected.
Explanation:Vendors refers to the company or a person who sells particular goods to the manufacturers or the producers. All business highly depends on the vendors who provide them with the goods and services that are needed for the manufacturing of any product. Some of the vendor types includes suppliers, equipment manufacturers, those companies that supplies the raw materials and parts for nay business.
There are many steps in selecting right vendors of any business. Firstly we need to analyse the requirements of business and identify third party candidates of vendors. We need to evaluate all of them by assigning weights to them. They must be them invited for demo and then finally we need to select the worth one. The larger amount of purchases can be done only after the vendor(s) are selected.
Rajid, an immigrant who speaks little English, enters into a contract to pay $300 per month for ten years to purchase an auto from Travel Motor Co. The appraised retail value of the car is $5000. What legal remedy would release Rajid from his contract?
Answer:
Unconsciounability
Explanation:
In contract law, unconsciounability is a legal doctrine that establishes that contract terms which are extremely unfair or unjust for one of the parties are not enforceable. This unbalance must be generated by superior bargaining power and as its name suggests, is contrary to good conscience.
In this case, the car seller took advantage of Rajid's little knowledge of English and made him sign an extremely unfavorable contract.
Please match the descriptions with the correct price index. A. A price index based on wages in the labor market. B. A broad price index based on all the components of GDP. C. A price index based on the cost of common inputs for firms. D. A measure of inflation based on the cost of goods that households typically purchase. E. A measure of inflation based on the price of imports or exports.
Answer:
A. A price index based on wages in the labor market. - Employment Cost Index
The employment cost index is a quaterly measure of the cost of hiring for businesses. It is calculated by the Bureau of Labor Statistics.
B. A broad price index based on all the components of GDP. - GDP Deflator
The GDP Deflator measures the change in price of all goods and services produced within a given year in respect to the price level of a selected year (the base year).
C. A price index based on the cost of common inputs for firms. - Producer price index
The producer price index measures the price change of the inputs that firms use to produce output. (for example, raw materials, gas, electricity, and intermediate goods).
D. A measure of inflation based on the cost of goods that households typically purchase. - Consumer price index
This is perhaps the most well-known price index. It measures the price change of a selected basket of goods and services that is most commonly bought by households.
E. A measure of inflation based on the price of imports or exports. - International Price Index
A measure of the change in prices of imports and exports.
Mycenaean Greece became more powerful after a. creating trade networks with Egypt b. war with Persia. c. destruction of Crete d. political consolidation in. the Dark Ages
Mycenaean Greeks became more powerful after destruction of Crete.
Option c
Explanation:
The Civilization of Mycenaean in the ancient Greece is considered to be the last phase of the bronze age with the span of 1600–1100 BC. The civilization was named after the most prominent area called the Mycenae in Argolid.
The first wave of destruction in their mainland occurred in 1250 BC due to few unidentified reasons. The second and final destruction happened on 1190 BC which marked the end of the whole civilization.
They are known to be the first human to speak the Greek language. They were majorly influenced by the people of earlier Minoan civilization which was situated on Crete island.
James Krieg has finished law school but has unsuccessfully taken the bar exam twice. Krieg is running low on patience and cash. He has begun writing wills to see him through this time of crisis and is charging $200 per will. Some of his will clients have refused to pay Krieg, and he wishes to take them to a small claims court. Which of the following statements is true?
a. Krieg could recover the fees since the licensing after the bar exam is simply to raise funds.
b. Krieg's agreements are void.c. Krieg could recover the fees on a quasi-contract theory.
d. Krieg's agreements are voidable.
Answer:
B. Krieg's agreements are void
Explanation:
The bar examination, is the examination that is administered by a jurisdiction's bar association that a lawyer needs to pass before being admitted to the bar of that jurisdiction.
It is the Examination that Lawyers need to pass before they can be given license to practice law in a jurisdiction.
Since Kreig is yet to write his Bar Examination successfully, whatever documents he writes and signs as a Lawyer is void, because,he doesn't have the right to practice law in his Jurisdiction yet.
Claire is from France and has been working in the United States for the last two years in cancer research. If her work visa expires in a year, what can Claire’s employer do to create a permanent position for her in the company?
Answer:
Claire´s employer should apply for a permanent Visa in the Immigration Dept. since Claire position in the company is absolutely necessary to the cancer research that probably will take more time to develop.
Explanation:
Answer:
Sponsor Claire for a green card
Explanation:
Green cards can be applied fro to allow people to live and work in the U.S and it helps if your employer sponcers you
Some industrial products are created to meet the needs of one or a small group of customers. Boeing, for example, serves a very defined group of customers with its 747 aircraft model. This is an example of
Answer:
a custom-designed product.
Explanation:
In this case, an airplane is a highly customized product. Each airplane is specifically built and arranged to meet the special and unique needs of its clients. For example, each airplane is painted with the colors and the logo of the airline company. The seats are also arranged depending on the specific requirements of the clients.
If employees are bonded a. it means that they are not allowed to handle cash b. they have worked for the company for at least 10 years c. they have been insured against misappropriation of assets. d. it is impossible for them to steal from the company
Answer:
c. they have been insured against misappropriation of assets.
Explanation:
A company bonds its employees to protect itself against theft by its workers. Being bonded means securing the money available to customers if a claim is made against the company. Bonding offers compensation to a business should a loss arise through employee's actions.
The law requires companies that handle cash and cash equivalents such as stocks certificates to bond their employees. A company may choose from the various types of bond insurance in the market. For example, employers may use the fidelity bond to protect against employee theft.
Employee bonding refers to insuring the company against financial losses caused by employee’s dishonest activities or thefts. However, it does not make it impossible for employees to steal from the company.
Explanation:The activity of bonding employees refers to obtaining an insurance policy that protects the company from losses, particularly those incurred due to situations such as theft, fraud or dishonest activities by the employees. Therefore, option c. 'they have been insured against misappropriation of assets' is the correct explanation. However, it is important to note that bonding only provides financial protection and not prevention measures against theft or fraud. Therefore, option d. 'it is impossible for them to steal from the company' is incorrect.
Pension insurance and borrowing money through banks and bonds are processes related to securing company's finances, but they are not pertinent to bonding employees.
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The country of Dalima has long been a substantial exporter of agricultural goods, reflecting its unusual abundance of arable land; in contrast, its continental neighbor, Bundeeza, has excelled in the export of goods produced in labor-intensive manufacturing industries. The export policies of the two countries is best explained by ___________.a. mercantilism.
b. theory of absolute advantage.
c. Heckscher-Ohlin theory.
d. theory of comparative advantage.
Answer:
C. Heckscher-Ohlin theory.
Explanation:
The country of Dalima has long been a substantial exporter of agricultural goods, reflecting its unusual abundance of arable land; in contrast, its continental neighbor, Bundeeza, has excelled in the export of goods produced in labor-intensive manufacturing industries. The export policies of the two countries is best explained by Heckscher-Ohlin theory. This theory states that countries only export the products and services which they can produce quite plentiful and efficiently. The basic logic behind this theory is that if any country is having any kind of advantage in production then it will certainly be having relatively abundance factor as well.
The member countries of BERPHO, a regional free trade area wanted to adopt a common currency, the "BERPH." The "BERPH" was modeled after and, in fact, was exactly similar to the euro. Establishment of the "BERPH" requires participating national governments to
Answer:
The member countries of BERPHO, a regional free trade area wanted to adopt a common currency, the "BERPH." The "BERPH" was modeled after and, in fact, was exactly similar to the euro. Establishment of the "BERPH" requires participating national governments:
- to give up control over monetary policy.
- to have a sound fiscal situation.
- to have a high degree of price stability.
- to be democratic in nature.
- to have stable exchange rates
Explanation:
BERPHO is an example of an economic union, where the fourteen member countries reached a level of economic integration, which means having a common currency, comprehensive harmonized tax rates, and a common monetary and fiscal policy.
Consider two communities. In one community, ten families have incomes of $100,000 each and ten families have incomes of $20,000 each. In the other community, ten families have incomes of $200,000 each and ten families have incomes of $22,000 each.
a) In which community is the distribution of income more unequal?
b) In which community is the problem of poverty likely to be worse?
c) Which distribution of income would Rawls prefer? Explain.
d) Which distribution of income do you prefer? Explain.
e) Why might someone have the opposite preference?
Answer:
In the second community because the gap is wider between the 2 income groups. Community 1 has an income gap of $80,000 (100,000 - 20,000) while community 2 has an income gap of $178,000 (200,000 - 22,000)
Explanation:
a) In which community is the distribution of income more unequal?
In the second community because the gap is wider between the 2 income groups. Community 1 has an income gap of 80,000 (100,000 - 20,000) while community 2 has an income gap of 178,000 (200,000 - 22,000)
b) In which community is the problem of poverty likely to be worse?
In the first community because average income is smaller which is $60,000 [(100,000 + 20,000) / 2] compared to community 2 of $111,000 [(200,000 +22,000) /2]
c) Which distribution of income would Rawls prefer? Explain.
Rawls would prefer the second income distribution if the larger income are tied to positions that are open to all, and as long as basic liberties existed
d) Which distribution of income do you prefer? Explain.
I would prefer the second because the average income is higher and in the event of income redistribution, every family will be averagely better off than in the first community
e) Why might someone have the opposite preference?
Some may prefer community one because of lower income gap between the rich and the poor.
Final answer:
This detailed answer discusses income inequality, poverty assessment, preferences of Rawls, personal choices, and opposing viewpoints regarding income distribution.
Explanation:
a) Inequality Comparison:
To compare the income distributions, we can calculate the Gini coefficient for each community. The higher the Gini coefficient, the more unequal the income distribution. The community with larger income gaps will have a higher Gini coefficient and thus be more unequal.
b) Poverty Assessment:
To determine which community has a worse poverty problem, we can look at the percentage of families with incomes below the poverty line in each community. The community with a higher percentage of families below the poverty line is likely to have a more severe poverty issue.
c) Rawls' Preference:
Rawls would likely prefer the income distribution where there is more equality. His theory of justice emphasizes maximizing the well-being of the least advantaged, which would support a more equal distribution of income.
d) Personal Preference:
Personal preferences may vary, but one might prefer the income distribution that promotes overall societal well-being and reduces poverty, which could align with a more equal distribution of income.
e) Opposite Preference:
Opposing preferences could stem from differing values or beliefs regarding individual effort versus societal responsibility. Some may argue for merit-based rewards and less income redistribution.
A cause-effect chart: A. Identifies potential causes for specific problems B. Shows the prevalence of the various types of defects that have been found C. Is not useful when first studying a quality problem D. Has both upper and lower specification limit
Answer:
C. Is not useful when first studying a quality problem
Explanation:
The cause and effect is a tool that helps you identify display and sort all possible cause and effect relationships for a specif problem or quality characteristics and graphically illustrates this relationship between the outcomes of the factors.Jobs in which of the following fields require an understanding of the investment environment? I. commercial banking II. corporate finance III. financial planning IV. insurance
Answer:
All of them:
I. commercial banking II. corporate finance III. financial planning IV. insuranceExplanation:
People who work in commercial banks regularly deal with clients that need money to start a new business or expand an existing one, not all businesses are huge corporations that only go to large investment banks.
Anyone that works in finance must understand the investment environment, since the core task of finance is dealing with the value of money and time.
Insurance companies also deal with financial issues and investments.
Drius Security stock has a yearly dividend of $12.11. If you own 132 shares of Drius Security, how much do you get paid in quarterly dividends? a. $133.21 b. $1,598.52 c. $366.96 d. $399.63 Please select the best answer from the choices provided A B C D
Answer:
d. $399.63
Explanation:
Data provided in the given question
Dividend = $12.11
Shares = 132
The calculation of quarterly dividends is shown below:-
Quarterly dividends = Dividend × Shares ÷ Number of quarters in a year
= $12.11 × 132 ÷ 4
= $399.63
Therefore, to compute the quarterly dividends we simply divide shares with number of quarter in a year and multiply with dividend.
Answer:
D
Explanation:
On edge
Ted's Lawn Care has total fixed costs of $200,000, total variable costs of $150,000, and an output of 25,000 units. What is Ted's Lawn Care's average fixed cost?
Answer:
$ 8 per unit of output
Explanation:
Average fixed cost is defined as fixed cost incurred per unit of output.
Given,
Total Fixed cost = $200,000
Total Variable Cost = $ 150,000
Output level = 25000 units
Average fixed cost can be computed as follows
Average fixed cost = [tex]\frac{Total\ Fixed\ Cost}{No.\ of\ units}[/tex] = [tex]\frac{200000}{25000}[/tex] = $ 8 per unit of output
Fixed costs refer to those costs which do not change in quantum irrespective of the level of output. For example rent of the factory premises.
A differentiated product is a product that: a. always costs more than rival products. b. is offered free of cost on purchase of a company's standard product. c. has a greater resale value than rival products. d. always costs less than rival products. e. provides greater reliability than rival products.
Answer:
Option E Provides greater reliability that the rival products
Explanation:
The reason is that differentiation brings uniqueness in the product which the very few rivals that negligible in amount can match. The example includes Mercedes pursue differentiated strategy and the number of firms that can match its differentiation at a competitive price are very few which includes BMW, Ford and Electric Motors whereas in India the only comply that can match its innovation is BMW. Likewise in many other countries Mercedes is always priority of customers because of its brand recognition and creates a perception of great personality of the owner of the car. Thats the reason why in many countries the President and state guests are received in Mercedes.
A differentiated product is one that is distinguished from competitors' products through various means to appeal to a particular market segment, not necessarily by cost or reliability.
Explanation:A differentiated product is one that a firm makes distinct from those of its competitors or even its own other products. This can be achieved through a variety of ways such as the physical aspects of the product, the location from which it is sold, intangible aspects, or different perceptions of the product by consumers. Key to understanding differentiated products is that they are not defined by their cost relative to competitors, nor by their resale value or reliability, but rather by their distinctiveness in the marketplace.
The differentiation may lead to a change in market share for the firm as their unique offerings may attract different segments of the market willing to pay varying prices. However, differentiation does not inherently mean a product must cost more or less than its competitors, nor that it provides enhanced reliability. Instead, it may simply offer a feature or attribute that differentiates it from the competition which may be valued differently by consumers.
When goods are produced privately, but the cost of their purchase is paid for by the taxpayer or some other third party, a. consumers have a strong incentive to search out those firms offering them the best deal. b. private producers of such goods will have little incentive to control costs and provide them at low prices. c. goods and services will only be supplied if consumers are willing to pay an amount sufficient to cover their production costs. d. the invisible hand will direct consumers and producers toward an efficient level of output.
Answer:
b. private producers of such goods will have little incentive to control costs and provide them at low prices
Explanation:
Externality is a situation where the production activities of market participants (either producers or consumers) have an effect on third parties not involved in production.
Externality is a form of market inefficiency.
Negative externality is when goods are produced privately, but the cost of their purchase is paid for by the taxpayer or some other third party.
When negative externality occurs, producers have little incentive to reduce cost because they don't bear the total brunt of their activities. This is why activities that generate negative externality are over produced.
Government needs to step in to control this problem. They can either impose tax on producers or regulate their activities.
Pollution is an example of negative externality.
I hope my answer helps you
When maria comes home from work, she finds that her yard has been mowed and trimmed. an hour later, a man comes to her door to collect payment for the yard work. maria refuses to pay him because she has never seen him before nor had she hired him to do the work. which of the following is accurate?
a. this is an implied, unilateral contract, so she must pay.
b. maria has received unjust enrichment so a quasi contract is formed, so she must pay.
c. the court would make maria pay the reasonable cost of the work to be fair to both parties.
d. maria would not have to pay anything.
Answer:
d. maria would not have to pay anything.
Explanation:
In this scenario Maria did not form a contract with the man to cut her lawn and had not even met him before. So there is no contract formed voluntarily, neither is it an implied contract.
Maria was enriched in this process because she will benefit from the cutting of the lawn. She was however not unjustly enriched because the man was not unduly influenced to carry out the task.
Maria can however pay the man after the fact at her discretion.
"The correct option is b. Maria has received unjust enrichment so a quasi contract is formed, so she must pay.
In this scenario, Maria has received a benefit (the mowing and trimming of her yard) without having a formal contract with the person who performed the service. This situation can lead to a legal principle known as ""unjust enrichment,"" where one party unduly benefits at the expense of another.
Here are the reasons why each option is or is not accurate:
a. This is not an implied, unilateral contract. An implied contract would require both parties to have a mutual understanding that services provided would result in payment. Since Maria did not request or agree to the services, there is no contract, implied or otherwise.
b. Unjust enrichment occurs when one party receives a benefit from another and it would be unjust for the party receiving the benefit to retain it without paying for it. In this case, Maria received the benefit of having her yard mowed and trimmed. A quasi contract, also known as a constructive contract, can be imposed by law to prevent unjust enrichment. Therefore, Maria would be required to pay the reasonable value of the services rendered to her property.
c. While it is true that courts aim for fairness, the specific remedy mentioned in this option is not typically how the law addresses such situations. Courts do not arbitrarily decide that one party must pay the other; rather, they apply legal principles such as unjust enrichment and quasi contracts to resolve disputes.
d. This option is incorrect because, under the principle of unjust enrichment, Maria would indeed have to pay something. The law does not allow a person to benefit from the labor of others without compensating them for the reasonable value of the work performed, especially when the recipient of the benefit had the opportunity to reject the services before or during the performance and did not do so.
In conclusion, the most accurate statement is that Maria has received unjust enrichment, and a quasi contract would be formed to require her to pay for the services provided. The amount she would have to pay would be the reasonable value of the yard work, which could be determined by the market rate for such services in her area."
What is a schedule that shows when an item must be ordered from suppliers or when the production of an item must be started to satisfy demand for the finished product by a particular date?
Answer: gross material requirements plan
Explanation: A material requirements plan has been developed for product A based on the product structure of A and the lead-time needed to obtain each component. Planned order releases of a parent item are used to determine gross requirements for its component items.
hope i helped please mark brainliest!
DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and to deal with claims. It wants to introduce its product into new markets, but before it does so, it wants to predict how successful its sales efforts will be. The marketing research firm hired to conduct the research study has six months to gather, analyze, and present its data to DirectProtect. The required time frame is an example of a:________. a. dependent variable. b. obstruction c. objective d. constraint. e. independent variable.
Answer:
d. Constraint
Explanation:
The dependent variable variations are explained as an effect, due to variations in causal independent variables. The dependent variable might be in form of an objective function, as a function of independent variables, which needs to be maximised or minimised. Constraint is a limitation to the objective function maximisation / minimisation.
Given case : Introducing product in new markets (through telemarketers) & conducting research about success of sales efforts - has 'Sales' as the main objective function to be maximised, dependent on independent variable like Telemarketers . Constraint could be any restriction in form of budget , time (six months time mentioned)
The chart gives prices and output information for the country of Utopia. Use this information to calculate real and nominal GDP for both years. Use 2017 as the base year. 2016 2017 Price Quantity Price QuantityIce cream $7.00 600 $3.00 400Blue jeans $70.00 20 $20.00 90Laptops $300.00 5 $300.00 52016 nominal GDP: $2016 nominal GDP: $2017 nominal GDP: $2017 nominal GDP: $2016 real GDP: $2016 real GDP: $2017 real GDP: $2017 real GDP: $
Answer:
Explanation:
The chart below gives prices and output information for the country of Utopia. Use this information to calculate real and nominal GDP for both years. Use 2017 as the base year.
Year 2016 2017
Price Quantity Price Quantity
Ice Cream $7.00 600 $3.00 400
Blue Jeans $70.00 20 $20.00 90
Laptops $300.00 5 $300.00 5
2016 nominal GDP = $_(7 x 600) + (70 x 20) + (300 x 5)_ = $7,100
2017 nominal GDP = $_(3 x 400)+(20 x 90) + (300 x 5)_ = $4,500
2016 real GDP = $__(7100-4500)/ 4500)) / change in ice cream price of 50%+ change in blue jean price of (70-20/20) 250%_______
= 0.57/3 = 0.19% growth. Technically the economy was better in 2016 than in 2017.
2017 real GDP = will be same as nominal, hence no growth since this is the base year
Nominal and real GDP for Utopia are calculated by multiplying the quantities of goods produced by their respective prices. For 2016, nominal GDP is $7,100 and real GDP is $3,700. For 2017 which is the base year, nominal and real GDP are both $4,500.
Calculating Nominal and Real GDP for Utopia
To calculate nominal GDP for both years, we use the formula that defines nominal GDP as the quantity of every final good or service produced multiplied by the price at which it was sold.
To find real GDP, which adjusts for inflation, we value the quantities of goods and services at constant prices. In this case, we use 2017 as the base year prices.
Calculating nominal GDP for 2016:
Ice cream = $7.00 x 600 = $4,200
Blue jeans = $70.00 x 20 = $1,400
Laptops = $300.00 x 5 = $1,500
Total nominal GDP for 2016 = $4,200 + $1,400 + $1,500 = $7,100
Calculating nominal GDP for 2017:
Ice cream = $3.00 x 400 = $1,200
Blue jeans = $20.00 x 90 = $1,800
Laptops = $300.00 x 5 = $1,500
Total nominal GDP for 2017 = $1,200 + $1,800 + $1,500 = $4,500
Calculating real GDP for 2016 using 2017 prices:
Ice cream = $3.00 x 600 = $1,800
Blue jeans = $20.00 x 20 = $400
Laptops = $300.00 x 5 = $1,500
Total real GDP for 2016 = $1,800 + $400 + $1,500 = $3,700
Real GDP for 2017 is the same as nominal GDP for 2017 since it is the base year: $4,500.
Oriole Company sold $122000 of goods and accepted the customer's $122000 8%, 1-year note receivable in exchange. Assuming 9% approximates the market rate of return, what would be the debit in this journal entry to record the sale
The debit to record the sale of goods by Oriole Company in exchange for an 8%, 1-year note receivable should be the present value of the receipt, calculated by discounting the future cash flow by the 9% market interest rate.
When recording the sale of goods in exchange for a note receivable, the amount recognized at the time of the sale should be the present value of the note, not the face value, when the interest rate on the note is different from the market rate. Since the market rate of return is 9% and the note has an 8% interest rate, the present value of the $122,000 note receivable would be lower than its face value. To determine the debit to record the sale, you would use present value calculations based on the market interest rate.
To calculate the present value, you would discount the future cash flow of $122,000 (the principal plus interest due in one year) at the market interest rate of 9%. However, since the exact present value was not provided, we cannot give a specific debit amount without performing the calculation.
The debit in this journal entry to record the sale would be $122,000.
When a company sells goods on credit and accepts a note receivable, the transaction is recorded at the face value of the note, which is the amount of cash the company expects to receive in the future. In this case, Oriole Company sold goods for $122,000 and accepted a note receivable for the same amount. Therefore, the company would debit Cash or Sales for $122,000 to reflect the revenue earned from the sale.
The note receivable is recorded at its face value because it is expected to be collected in one year, and the market rate of interest (9%) is not used to adjust the value of the note at the time of the sale. The market rate of interest is only relevant for determining the present value of the note if it were to be discounted, which is not the case here since the note is accepted at face value.
The journal entry to record the sale would be:
Debit: Cash or Sales $122,000
Credit: Notes Receivable $122,000
This entry reflects the increase in sales revenue and the corresponding increase in the notes receivable account. The interest that will be earned on the note (at 8% for 1 year) will be recorded separately when the interest is actually received or accrued, not at the time of the initial sale transaction.
Suppose income increases by 25 percent and, as a result, the quantity of a particular brand of automobile demanded (holding the price for this particular automobile constant) decreasesdecreases by 37 percent. The income elasticity of demand for this brand of car is_____. This particular brand of automobile is a(n) _____ good. In another example, suppose market research shows that a particular brand of truck is a normal good and a luxury. If so, then the income elasticity of demand for this truck is:______.
A. Less than 1 but greater than 0.
B. Negative.
C. Greater than 1.
D. Positive.
E. Zero.
Answer:
-1.48
Inferior Good, as their quantity demanded decreases as the income of the consumers increases.
C. Greater than 1
As to be a normal good, the income elasticity should be positive. Then, when betwene 0 and 1 this is a necessary good used for the consumer to met their normal living standard
While above 1, menas their expense is more than proportional than income thus, it increases as the income increases more than proportionally that represent a luxury good.
Explanation:
To solve for the income elasticity we divide the variation in quantity over the variation in price:
-37/25 = -1.48
A technological advance would best be represented by: A shift outward of the production-possibilities curve. A shift inward of the production-possibilities curve. A movement from inside the production-possibilities curve to a point on the production-possibilities curve. A movement from the production-possibilities curve to a point inside the production-possibilities curve.
Answer:
Option A-A shift outward of the production-possibilities curve.
Explanation:
The reason is that the technological advancement brings increased productivity and higher growths prospects of the products. When Henry Ford used the taylorism framework in assembling of its automobiles the result was greater efficiencies which helped him to decrease the costs significantly and increase its production by sufficient amount. This means higher the technological advances the higher are the efficiencies and if the higher are the efficiencies the higher are the productions. So the production possibility curve will move outward which shows that there are higher chances that the production will increase.
A technological advance is best represented by a shift outward of the production-possibilities curve.
Explanation:A technological advance would best be represented by a shift outward of the production-possibilities curve. This represents an increase in the potential output of an economy due to new technology or processes. When there is a technological advance, the production-possibilities curve shifts outward because more goods and services can now be produced.
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There are 140 lb of flour in two sacks. If you take 1 8 of the flour from the first sack and add it to the second, there will be an equal amount of flour in both sacks. What is the original amount in each
Answer:
The original amount in the first sack is 80 lb of flour
The original amount in the second sack is 60 lb of flour
Explanation:
Let x represent the first sack and y represent the second sack
x + y = 140 --------- eqn (1)
One-eight of the flour from the first sack is (1/8)x = x/8
x - x/8 = y + x/8
7x/8 = (x + 8y)/8
7x = x + 8y
7x - x = 8y
6x = 8y
x = 8y/6
Substitute x = 8y/6 in eqn (1)
x + y = 140
8y/6 + y = 140
Multiply each term by 6
8y + 6y = 840
14y = 840
y = 840/14 = 60
x = 8y/6 = 8×60/6 = 8×10 = 80
First sack (x) = 80 lb of flour
Second sack (y) = 60 lb of flour
Scenario: Roberto BaldwinAs the owner and manager of Fantastic Toys, Roberto Baldwin is fascinated by all the changes occurring and transforming the workplace. Roberto is concerned about the important OB trends that he can understand and take advantage of in developing and positioning his company in the marketplace.Roberto is interested in this trend of globalization. He should know that globalization occurs when an organizationA) increases its connectivity with people and organizations in other parts of the world.B) serves diverse customers within the firm's home country.C) has a diverse workforce within the firm's home country.D) has a substantially strong domestic market.
Answer:
A) increases its connectivity with people and organizations in other parts of the world.
Explanation:
Globalization is a common word now, and it takes place when a company starts to economically interact with other companies, employees or clients in other countries around the world. Globalization can take place when a company outsources manufacturing to another country, or when it outsources services to people from other countries, or when the company starts to sell its products or services to customers around the world.
Globalization breaks down communication barriers and increase connectivity within firms and individuals in different countries.