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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In a perfectly competitive market, the process of entry and exit will end when (i) accounting profits are zero. (ii) economic profits are zero. (iii) price equals minimum marginal cost. (iv) price equals minimum average total cost. A. (ii) and (iii) only B. (ii) and (iv) only C. (i) and (ii) only D. (i), (ii), (iii), and (iv)
Answer:
Answer is: ( ii ) and ( iv ) only.
Explanation:
In a perfectly competitive market , the process of entry and exit will end when the price equals minimum average total cost, resulting to zero economic profits at this point.
Please note that the labeling of your options are not too clear, so pick the option that my answer correlates with.
The entry and exit of firms in a perfectly competitive market cease when the economic profits are zero, and the price is equal to the minimum average total cost.
Explanation:In a perfectly competitive market, firms enter the market when they observe that existing companies are making profits, and exit when they are experiencing losses. This dynamic eventually results in firms earning zero economic profits, which occur at the point where the price equals the minimum average total cost (ATC). At this equilibrium point, accounting profit is still positive as it includes the opportunity cost of the owner's capital and labor, so we can disregard option (i). The price equals minimum marginal cost occurs when the firm is maximizing its profits, by producing the quantity of output at which marginal cost equals price. Thus, entry and exit continue until the market reaches a state where economic profits are zero, which coincides with the price being equal to the minimum ATC.
Therefore, the process of entry and exit will end when (ii) economic profits are zero, and (iv) price equals minimum average total cost. So, the correct answer is B. (ii) and (iv) only.
The entry and exit of firms in a perfectly competitive market cease when the economic profits are zero, and the price is equal to the minimum average total cost.
Explanation:In a perfectly competitive market, firms enter the market when they observe that existing companies are making profits, and exit when they are experiencing losses. This dynamic eventually results in firms earning zero economic profits, which occur at the point where the price equals the minimum average total cost (ATC). At this equilibrium point, accounting profit is still positive as it includes the opportunity cost of the owner's capital and labor, so we can disregard option (i). The price equals minimum marginal cost occurs when the firm is maximizing its profits, by producing the quantity of output at which marginal cost equals price. Thus, entry and exit continue until the market reaches a state where economic profits are zero, which coincides with the price being equal to the minimum ATC.
Therefore, the process of entry and exit will end when (ii) economic profits are zero, and (iv) price equals minimum average total cost. So, the correct answer is B. (ii) and (iv) only.
An integrated marketing communications program should be viewed as an overall organizational process rather than a marketing plan or marketing function. A. True B. False
Answer:
A. True
Explanation:
An integrated marketing communication is an approach to the development and the creation of the seamless interaction with the brand and the enterprise. And focuses on all aspects of the marketing and advertising and the sales and public relation and the interaction on the marketing mix. And thus be viewed as an overall organization plan rather than a marketing function.You are a manager who has run into some conflict between two of your departments. Both departments are overworked and complaining that the other department has it easier. You need these departments to work together to come up with a solution and remain on good terms. Which conflict management strategy would be most effective?
Answer:
Collaboration.
Explanation:
Collaboration is the process by which two or more people or group's come together to achieve a particular goal. It usually needs leadership to guide it's activities, and is similar to cooperation.
The departments are complaining and saying the other one has it easy. Bother departments are functioning independently.of one another and so cannot understand the unique challenges faced by the other team.
When they collaborate they pool their resources together to achieve more. They also get to understand the pain points of the other department and this helps foster a good work environment.
Which of the following events must cause equilibrium quantity to fall? a. demand increases and supply decreases b. demand and supply both decrease c. demand decreases and supply increases d. demand and supply both increase
Answer:
b. demand and supply both decrease
Explanation:
Equilibrium quantity can be found at the intersection of the demand and supply curve.
If demand decreases, it means that the demand curve has shifted to the left. It indicates that the demand of consumers have fallen.
If supply decreases, it means that the supply curve has shifted leftward. It indicates that supply has fallen.
The effect on equilibrium price would be indeterminate.
I hope my answer helps you
For equilibrium quantity to fall, their must have been a decrease in both demand and supply (c)
When demand and supply fall, buyers wouldn't be buying as much as they
would have bought and producers will reduce how much they supply, so
definitely quantity will fall but this effect on price cannot be determined.
But, if there is an increase in both demand and supply, buyers or
consumers will have more purchasing power because producers will have
more to supply and their will be an increase in equilibrium output.
Thus, when both supply and demand decrease, equilibrium quantity falls.
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Suppose that in a market for used cars, there are good used cars and bad used cars (lemons). Consumers are willing to pay as much as $6,000 for a good used car but only $1,000 for a lemon. Sellers of good used cars value their cars at $5,000 each and sellers of lemons value their cars at $800 each. Buyers cannot tell if a used car is reliable or is a lemon. Based on this information, what is the likely outcome in the market for used cars
Answer:
Based on the given information, the mostly likely outcome in the market for used cars is, sellers of good used cars will drop out of the market.
Explanation:
From the above mentioned scenario, we can figure out that in the marker of used cars, good used cars have a higher pay and value as compared to the bad used cars. But when it comes to buyers, they cannot really make a differentiation between whether the used cars are well grounded or lemon. So in that case, there is a likelihood of dropping good used cars out of market. This is mainly because when buyers cannot judge the reliability of an item, chances are that the item will drop out.
Final answer:
In a used car market with information asymmetry, buyers cannot differentiate between good cars and lemons, leading to a market failure known as the lemons problem, which drives high-quality cars out of the market and leaves only lemons.
Explanation:
The likely outcome in the market for used cars, when buyers cannot distinguish between high-quality cars and lemons (low-quality cars), is an example of a market failure due to information asymmetry. Because buyers are unsure of the car's quality, they are only willing to pay an average price that reflects the risk of getting a lemon. In this scenario, the average price buyers would be willing to pay may be closer to $3,500, which is the midpoint between the value of a good car ($6,000) and a lemon ($1,000).
However, this price is less than what sellers of good cars would accept ($5,000), leading to a market where mostly lemons are sold. This phenomenon is known as the lemons problem or adverse selection, and can result in high-quality cars being driven out of the market, leaving only the lemons available for trade.
Immigrant couples often abandon Breadwinner/Supportive Spouse strategies in favor of economic interdependence when they arrive in the United States. What is one reason why couples do so?
Answer:
they are adjusting to a new economic class
Explanation:
Economic interdependence refers to being dependent on your significant other to pull both of your economic resources together. Based on the information provided within the question it can be said that one of the main reasons for this is that they are adjusting to a new economic class . Moving to a new country requires sacrificing a lot and can be hard to find economic stability for a long time. Therefore couple both work and depend on each other economically.
Colette is a business executive from France, and Franz is a business executive from Germany. Colette does not speak German, nor does Franz speak French. Which language are they most likely to conduct business in?
The language they are most likely to conduct business in is English.
What is language?Language is a structured system of communication. The structure of a language is its grammar and the free components are its vocabulary. Languages are the primary means by which humans communicate, and may be conveyed through a variety of methods, including spoken, sign, and written language. Many languages, including the most widely-spoken ones, have writing systems that enable sounds or signs to be recorded for later reactivation. Human language is highly variable between cultures and across time.
Human languages have the properties of productivity and displacement and rely on social convention and learning. Estimates of the number of human languages in the world vary between 5,000 and 7,000. Precise estimates depend on an arbitrary distinction established between languages and dialects.
Natural languages are spoken, signed, or both, however, any language can be encoded into secondary media.
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Economists were sharply divided over how to best fight the Great Recession. A vocal minority of economists favored the "Structural Solution," arguing that the economy needs to undergo some structural adjustments and that government should, therefore, A. rely on the invisible hand of the market to relocate resources, by letting weak firms die out quickly B. take serious actions to increase the total demand output for the country
Answer: A - Rely on the invisible hand of the market to relocate resources, by letting weak firms die out quickly.
Explanation:
The economists strongly believed that the smaller businesses should go out of business. By going out of business this would make them bankrupt. By going bankrupt, this would make the economy correct the resource misallocations.
The advocates for this solution also wanted the taxes to be cut. They wanted across the board tax cuts. They believed that this would get the demand for the goods and other services in high demand with the public.
Whether a purely competitive industry is a constant-cost industry or an increasing-cost industry, the final long-run equilibrium position of all competitive firms share which of the following characteristics? In the long run, a multiple equality occurs where price equals marginal revenue which equals the minimum average total cost. In the long run, a multiple equality occurs where price equals marginal cost which equals the minimum average total cost. Price or marginal revenue will settle where it is equal to minimum average total cost
Answer:
In the long run, a multiple equality occurs where price equals marginal cost which equals the minimum average total cost.
Explanation:
Whether a purely competitive industry is a constant-cost industry or an increasing-cost industry, the final long-run equilibrium position of all competitive firms share which of the following characteristics: In the long run, a multiple equality occurs where price equals marginal cost which equals the minimum average total cost.
The long-run equilibrium point for a perfectly competitive market occurs where the demand curve (price) intersects the marginal cost (MC) curve and the minimum point of the average cost (AC) curve. In the long-run, economic profit cannot be sustained.
Answer:
- Price or marginal revenue will settle where it is equal to minimum average total cost.
-In the long run, a multiple equality occurs where price equals marginal cost which equals the minimum average total cost.
-In the long run, an equality occurs where price equals marginal revenue, which equals minimum average total cost.
Explanation: In the long run, price is equal to minimum average total cost.
Which of the following statements about prices and inflation is not correct? A. Inflation represents a general rise in prices over periods of time. B. The inflation rate shows the percentage change in prices across periods of time. C. The price level measures the average prices of goods and services across the economy. D. Prices generally increase at the same rate across most periods of time.
Answer: Prices generally increase at the same rate across most periods of time.
Explanation:
Inflation means a rapid rise in the price of commodities in a market, and it is normally as a result of scarcity of products or excess flow of money in an economy. Prices on the other hand do not always increase generally, as price could reduce or remain the same overtime.
Answer:
D) Prices generally increase at the same rate across most periods of time.
Explanation:
The inflation rate (or deflation rate) measures the change in the general price level of goods and service within a certain period of time, generally 1 year. Inflation is usually calculated using the consumer price index (CPI) since it is not fixed, it changes year after year. Some inflation is necessary to maintain a healthy economic growth rate, generally between 1 - 2% per year is considered healthy. On the other hand, deflation is a sign of economic recession. The average inflation rate in the US between 1900 - 2011 was 3.22%.
I have $5$ different physics textbooks and $4$ different chemistry textbooks. In how many ways can I place the $9$ textbooks on a bookshelf, in a row, if there must be a chemistry textbook in the middle, and there must be a physics textbook at each end
Answer:
57600 ways
Explanation:
For the place in the middle we have 4 books so the number of combinations for that place is 4.
For the places at the end of the shelf I have 5 books, I need 2, so the number is a combination:
2· \frac{5!}{(5-2)!·2!}=2·10=20
For the 6 places on the shelf I have 6 books so the number is a combination 6!=720
So, the number of combinations is:
4·20·720=57600.
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Answer: 57600
Explanation:
Given the following;
5 different physics textbooks
4 different chemistry textbooks
There are 9 different positions for arranging the textbooks on a shelf.
If there must be a physics textbook at both ends;
Number of physics textbooks = 5
Both ends = 2 different positions
Mathematically,
5P2 = 5! ÷ (5-2)!
5! ÷ 3!2! =(5×4)
5P2 = 20 ways
If a chemistry textbook must be in the middle;
Number of chemistry textbooks = 4
Middle = 1 position
Mathematically,
4P1 = 4! ÷ (4-1)!
4P1 = 4! ÷ 3!
4P1 = 4 ways
3 positions have been calculated,
The 6 positions left = 6!
6! = 720ways
Therefore,
6! × 5P2 × 4P1 = 720 × 20 × 4 = 57600
If a company makes three entries into the revenue journal for fees earned of $500, $750, and $1,000 during the month, what is the balance of Fees Earned at the end of the month?
Answer:
$2,250
Explanation:
Given:
Revenue earned during the month = $500 , $750 , $1,000
Computation of Total balance at the end of the month:
Total Revenue earned during the month = $500 + $750 + $1,000
= $2,250
Note:
In the absence of sufficient Information, total income is considered final Income.
So, $2,250 is the end balance of the month.
Balsam City's library board is appointed by the city council, which has agreed to subsidize the operating costs of the library at a material amount to be determined each year. In addition, the city is paying debt service on general obligation bonds issued to construct the library. Based on generally accepted accounting principles (GAAP) criteria for defining the reporting entity:_______.A. The library is a component unit.B. The library is a special purpose government.C. The library is a joint venture.D. The library is a jointly governed organization.
Answer:.A. The library is a component unit.
Explanation: Library is a place where books are collected and kept for the use of students and other interested persons,this books collection can be in soft copies and hard copies.
Most modern libraries have internet facilities which helps the users to gain a better access to a wide range of books.
According to the GAAP(GENERALLY ACCEPTED ACCOUNTING PRINCIPLES) THE BALSAM CITY'S LIBRARY REPORT IS A COMPONENT UNIT
Final answer:
The library in Balsam City is classified as a component unit according to GAAP criteria for defining the reporting entity.
Explanation:
Based on the information provided, the library in Balsam City would be classified as a component unit according to generally accepted accounting principles (GAAP) criteria for defining the reporting entity. A component unit is a legally separate organization, but it is important to the primary government and is controlled by the primary government through a financial benefit or burden agreement. In this case, the library board is appointed by the city council, and the city council has agreed to subsidize the operating costs of the library and pay the debt service on the bonds issued to construct the library. This financial arrangement indicates a strong financial benefit and control by the city council, making the library a component unit.
The "Find Your Beach" campaign for Corona Extra makes the experience of drinking the beer more enjoyable and connects the experience of the advertisement so tightly with the experience of drinking the beer that consumers cannot remember the brand without recalling the experience generated by the advertisement, which makes it a ____________________ ad.
Answer: Transformational
Explanation: Transformational ad is the kind of advertisement which affiliates the occurrence which leaves an impression on the consumers using the advertised trademark with a remarkable set of psychological peculiarities, this would not normally be related to the label experience to the same extent without exposure to the advertisement. This type of advertising creates the experience of utilizing the commodity more interesting, warmer, more thrilling, and more desirable than when the advertisement is exclusively from a purpose portrayal of the label.
The "Find Your Beach" campaign for Corona Extra is an example of experiential advertisement, designed to connect the drink with a luxurious beach experience, creating lasting brand recognition and lifestyle association.
Explanation:The "Find Your Beach" campaign for Corona Extra is an example of an experiential advertisement. This advertising strategy is designed to connect the audience's daily experiences or lifestyle with the advertised product, in this case, creating an association between the experience of drinking Corona Extra and the relaxing, luxurious feeling of being on a secluded tropical beach. This method does not necessarily focus on the direct attributes of the product, such as taste, but rather on the emotional and lifestyle associations that can enhance the consumer's perception of the brand. By employing this technique, Corona aims to make its brand a part of the consumer's identity, connecting luxurious relaxation with a relatively inexpensive beer and ensuring that the experience generated by the advertisement is so closely tied to the experience of the product that consumers cannot recall the brand without reminiscing about the advertised beach experience. This form of advertising is effective in creating lasting brand recognition and affinity, leveraging consumer-oriented strategies and synergistic advertising practices to reach the audience across various platforms and embed the brand deeply into the consumer's lifestyle and identity.
During the current year, Comma Co. had outstanding: 25,000 shares of common stock, 8,000 shares of $20 par, 10% cumulative preferred stock, and 3,000 bonds that are $1,000 par and 9% convertible. The bonds were originally issued at par, and each bond was convertible into 30 shares of common stock. During the year, net income was $200,000, no dividends were declared, and the tax rate was 30%. What amount was Comma's basic earnings per share for the current year
Answer:
The basic earnings per share for the present year is $7.36 per share
Explanation:
The basic earnings per share for the current year of Comma is computed as:
= (Net Income - preferred stock) / Outstanding shares
where
Net Income is $200,000
Preferred stock is computed as:
= Shares × 10% × Price × 10%
= 8,000 × 10% × $20
= 800 × $20
= $16,000
Outstanding shares - 25,000
Putting the values above:
= ($200,000 - $16,000) / 25,000
= $ 184,000 / 25,000 shares
= $7.36 per common share
Which of the following is directly included in the calculation of GDP? Multiple Choice The final sale of a brand new Cadillac. The appreciation in value of shares of stock. The sales of sand to a glassmaker. The sales of land to a builder.
Answer:
Final sale of a brand new Cadillac
Explanation:
Gross Domestic Product (GDP) , is the economic term which is defined as the one that evaluated the economic activity value within the country. It is the sum or aggregate of the market prices of all the final or finished goods as well as services which are produced or manufactured in the economy during a time period.
In short, it states the output worth of the country in the local or country currency.
Therefore, the one which is straightly included in GDP are the final goods, not the intermediate or financial goods. So, the final sale of the Cadillac is included in GDP.
If advertising makes consumers more loyal to particular brands, it could ________ the elasticity of demand and ________ the markup of price over marginal cost.
Answer:
The correct answer is Decrease; increase.
Explanation:
One of the issues that brands want to create in their relationship with their consumers is loyalty, loyalty. In a market where products are increasingly more and more varied and in which consumers have more and more offers and can choose between more and more brands, companies aspire to their products and the relationships established between them and their consumers go beyond having a product to fulfill a service. Brands expect and need consumers to bond with them in an emotional way, feel for their products much stronger and much stronger relationships and, therefore, be able to establish a deeper anchor with the brand. What the brands are looking for is, therefore, that the consumer practically does not have to think when choosing a product, that he does not need to consider whether that or the other: he has to stay directly with that of the brand in question because it is the of that brand.
A japanese company has a bond outstanding that sells for 91.53 percent of its ¥100,000 par value. the bond has a coupon rate of 3.4 percent paid annually and matures in 16 years. what is the yield to maturity of this bond?
Answer:
4.13%
Explanation:
In this question, we use the Rate formula which is shown in the spreadsheet. Kindly find the attachment below
The NPER represents the time period.
Given that,
Present value = ¥100,000 × 91.53% = ¥91,530
Future value or Face value = ¥100,000
PMT = ¥100,000 × 3.4% = ¥3,400
NPER = 16 years
The formula is shown below:
= Rate(NPER;PMT;-PV;FV;type)
The present value come in negative
After solving this, the yield to maturity is 4.13%
The yield to maturity (YTM) of the Japanese company's bond is 4.63%.
Explanation:The yield to maturity (YTM) of a bond is the total return anticipated on a bond if it is held until its maturity. To calculate the YTM, we can use the bond pricing formula:
YTM = (Coupon Payment + (Par Value - Bond Price) / Number of Years) / ((Par Value + Bond Price) / 2)
Substituting the given values, we have: YTM = (3.4% + (¥100,000 - ¥91,530) / 16) / ((¥100,000 + ¥91,530) / 2) = 4.63%
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Lipstik, Inc. makes cosmetics. Lipstik intentionally mislabels its packaged products to conceal a defect. Trusting and relying on the mislabeling, Mikayla buys a Lipstik product and suffers an injury. Lipstik is most likely liable for
Answer:
Fraud.
Explanation:
Fraud is defined as intentional misrepresentation aimed at gaining unlawful advantage or to deprive a victim of a legal right.
In civil law the victim can file for recovery of money, while in criminal law the fraud perpetrator may be committed to prison.
Lipstik intentionally mislabels its packaged products to conceal a defect, and gains unfair advantage by selling these defective goods to customers. Mikayla buys the lipstick based on the misrepresented information on the label and gets injured.
Despite different demographics, consumers may hold similar self-values and might perceive themselves to belong to a distinct group of people. To identify this segment, the marketing manager might use ______ segmentation.
Answer:
Psychographic segmentation
Explanation:
Psychographic segmentation refers to dividing customers into different target groups based on their personalities, values, beliefs, attitudes, lifestyles, etc. This type of segmentation is fairly difficult to carry out because may times psychographic characteristics are not observable. E.g. you do not walk around with a label saying I'm a joyful person, who loves animals and enjoys outdoor activities.
Psychographic segmentation is probably the most effective type of marketing segmentation but it is also the most difficult to carry out properly.
Basil is maximizing his utility from consuming tea and crumpets. If the marginal utility of the last crumpet was 32 units of utility and the prices of tea and crumpets are 4 and 8, respectively, what was the marginal utility of the last cup of tea Basil consumed?
a. 2 units of utility
b. 12 units of utility
c. 6
d. 128 units of utility
e. 16 units of utility
Answer:
e. is correct
Explanation:
16 units of utility
Q 2.29: Val-Tek has current assets of $1,700,000 and current liabilities of $900,000. If they pay $100,000 owed to a creditor, what will their new current ratio be?
Answer:2 : 1
Explanation:
current ratio = current asset/current liability
If current liability was $900,000 less $100,000= $800,000
Therefore the current ratio=
$1,700,000/$800,000 =
2 : 1
Answer: The new current ratio is 2.125.
Explanation: The current ratio is expressed as current assets divided by current liabilities. If the company pays $100,000 due to creditors, it means the current liabilities would reduce to $800,000 ($900,000 minus $100,000). Therefore, the new current ratio will be $1,700,000 divided by $800,000 to give 2.125.
The ratio is one of the types of liquidity ratios. It is usually used to know by what extent the company can maximize the use of its current assets to settle obligations falling due within a year.
The result therefore means the company has twice the buffer to settle its obligations falling due within a year, even after paying $100,000 to its creditors.
When a firm adapts a product or service to meet an individual customer's wants or needs, it is undertaking an extreme targeting strategy called ______.
Answer:
The correct answer is Micromarketing.
Explanation:
Micromarketing is the personalization of sales actions by a thorough knowledge of the interests and habits of the individual consumer.
This is how micromarketing is defined, a practice that tends to be generalized to reach a more specific type of audience. Under this strategy, the target audience is considered as a sum of microsegments, of unique, but large, market niches. With more precise promotions and actions. Other criteria could be specific interests, age, sex, common activities or geolocation.
Suppose that the following information is known about Asa: He earns $126,000 in annual income, has a net worth of $324,000, has a master's degree, and works as a civil engineer. A sociologist could use this information to classify Asa in terms of his ____. Group of answer choices
A sociologist could use this information to classify Asa in terms of his "socioeconomic status".
Explanation:
A person or group's standing in society, or class is a status of socioeconomic. It is often calculated as a hybrid of education, income, and employment. Socio-economic status assessments also show differences in access to resources, plus concerns of privilege, control and power.
Viewing such a medium as a form of new innovation, the five socio-economic characteristics of gender, age, income level, education level and Internet access were researched to see whether there is any association among these five variables and the readiness of the customer to embrace e-commerce.
BreeTek is a cybersecurity company. The company has set up offices in all the major countries in the world. Software developers from different countries are required to communicate with each other regularly. As they cannot meet in person, they communicate with each other via email, videoconferencing, and group communication applications. This team of software developers is an example of a(n) ________.
Answer: Virtual team
Explanation:
The team of software developers at BreeTek company are working as a virtual team, where ideas are shared and problems are solved among each other from different locations. A virtual team is a team of workers in which team members operate from different locations with the aid of communication enhancing technologies such as; conference calls, messanger and emails.
Whenever Jane is successful she takes full credit for what has happened, but whenever she is unsuccessful she attributes her failure to bad luck or blames one of her fellow employees. She is guilty of:________. .A) fundamental attribution errorB) attribution biasC) the halo effectD) distinctivenessE) self-serving bias
Answer:
The correct answer is E) self-serving bias.
Explanation:
Self-service bias, or bias due to personal interest, appears when people request responsibility with greater interest for their own successes than for their own failures or failures. It also manifests itself when people tend to evaluate ambiguous information in a way that benefits their own interests. Dale Miller and Michael Ross were the first to suggest this attributional bias. Self-service also arises as a result of statistical bias as a result of people thinking, due to their self-esteem, that in certain areas it is better than average. For example: most drivers think they drive better than average.
The chance of winning a lottery game is 1 in approximately 27 million. Suppose you buy a $1 lottery ticket in anticipation of winning the $7 million grand prize. Calculate your expected net winnings for this single ticket. Interpret the result.
Answer:
expected net winnings -0.741
Explanation:
given data
chance of winning = 1 in approximately 27 million
buy a lottery ticket = $1
win grand prize = $7
solution
we get here expected net winnings for this single ticket is
we consider here X be the winnings from the lotto game
so
Probability if win (X = 7000 000) = [tex]\frac{1}{27000000}[/tex]
and
Probability if not win (X = 0) = [tex]\frac{26999999}{27000000}[/tex]
so
Expected (X) = ∑x P(X=x)
Expected (X) = [tex]\frac{7000000}{27000000}[/tex] + 0
Expected (X) = 0.259
so that we have expected to win $0.25 but we pay $1 for ticket
as expected net winning is = 0.259 - 1 = -0.741
it is negative so so it is expected loss
Janice wants to sell her townhome, and her neighbor is considering buying it. While waiting to find out if her neighbor is going to buy, Janice wants to market her home and receive the best representation possible. What type of listing agreement will save Janice the cost of a commission if her neighbor does ultimately decide to buy
Answer:
An exclusive agency agreement will save Janice the cost of a commission.
Explanation:
An exclusive agency is an agreement between a seller and a real estate agent which grants the agent the right to be the only authorized agent to market and sell a property. However, the seller retains the right to sell the property independently of the agent, in which case, no commission is payable to the agent.
In the given scenario, Janice wants to market her home and receive the best representation possible. Hence, she requires the services of an agent in order to do so. However, Janice would want to retain the right to be able to sell the property on her own. This way, if her neighbor does ultimately decide to buy the property, Janice can simply sell it to the neighbor without having to pay any commission to her agent.
Edmond, the CEO of Hartman Manufacturing, said to his new vice president of accounting, "In the past I had resistance to new ideas by employees who felt that our plans threatened their influence or their jobs. So when you tell your collections department that we just hired a collection agency to handle bad debt, you may have to sell your collections manager and his supervisors on using the agency. You also have to emphasize the fact that nobody is going to be laid off." Selling middle and supervisory managers on changes to overcome their resistance is often a necessary part of:_______________.
A. strategy implementation.
B. reality assessment.
C. strategic control.
D. operational control.
E. strategy formulation
Answer:
A.
Explanation:
Based on the information provided within the question it can be said that this is many times a necessary part of strategy implementation. This term refers to the process which a company undergoes in order to begin putting the chosen plans and strategies into action with the hopes of achieving the desired goal. This process many times requires situations like the one in question to be handled.
Which of the following practices are not considered essential for a comprehensive JIT implementation: Uniform production (also known as heijunka) Quick set times, Large lot sizes, Short lead times. A. True B. False
Answer:
False ( "Large lot sizes" is not considered essential for JIT )
Explanation:
Just in time is an arrangement and alignment of raw material supply with the production process of the business. It minimizes the holding cost, lead time required for delivery of raw material, the setup times and sizes of orders.
The Large lot sizes is not a characteristics of JIT because it may requires the storage facility to place the large orders until used in production which might increase the holding cost.
So, Large Lot Sizes are not considered essential for a comprehensive JIT implementation.