Answer:
The options for this question are the following:
A. a cartel, as the three airlines together would attempt to coordinate policies in the local market to jointly maximize profits.
B. monopolistic competitors, as each firm would have to differentiate its airline services from its rivals.
C. perfect competitors, as each firm would sell travel services at the same fares as the other airlines.
D. kinked demand curve oligopolists.
The correct answer is A. a cartel, as the three airlines together would attempt to coordinate policies in the local market to jointly maximize profits.
Explanation:
A cartel is a formal agreement between two or more companies in order to reduce competition between them and increase their profits or joint profits.
A cartel is the formal expression of a collusion agreement. This implies that firms explicitly agree on the level of certain competitive variables such as price, quantity, distribution of customers or areas, etc.
The goal of cartel members is to increase joint benefits at the cost of reducing or eliminating competition. In this way, it is intended to act as a monopoly by increasing prices, reducing the quantity and increasing the profits obtained from sales.
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.
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.
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.
A market research survey is available for $10,000. Using a decision tree analysis, it is found that the expected monetary value with the survey is $65,000. The expected monetary value with no survey is $62,000. What is the expected value of the information from this sample?
Answer:
Therefore Expected Value of the information = $65,000+$62,000 - $10,000 = $117,000
Explanation:
If the market research survey is available for $10,000.
Using a decision tree analysis, it has been found that the expected monetary value with the survey is $65,000. The expected monetary value with no survey is $62,000.
Then the expected value of the information from this sample is the expected value of each outcome and deducting the costs associated with the decision
Therefore Expected Value of the information = $65,000+$62,000 - $10,000 = $117,000
The expected value of the information from the survey sample in this case is -$7,000. This is calculated by subtracting the expected value without the survey and the cost of the survey from the expected value with the survey.
Explanation:Expected value of the information from a sample in the context of market research and decision tree analysis can be calculated as the difference between the expected monetary value with the survey and the expected monetary value without the survey, minus the cost of the survey itself.
In this specific scenario, the expected value of information would be: $65,000 (with survey) - $62,000 (without survey) - $10,000 (cost of survey), which equals - $7,000.
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A monopolist can practice third-degree price discrimination. If demand in the United States is given by y1 = 7,200 – 100p1, where p1 is the price in the United States, and if the demand in England is given by y2 = 3,600 – 200p2, where p2 is the price in England, then the difference between the monopolistic price charged in England and the monopolistic price charged in the United States will be:__________.
Answer:
The difference between the monopolistic price charged in England and the monopolistic price charged in the United States will be = 27
Explanation:
Y1 = 7200 -100p1 = > p1 = 72 – y1/100
Y2 = 3600 – 200p2 = > p2 = 18 – y2/200
The cost of monopolist (since it’s the same firm and uses same technology) shall be same in both countries, hence let us assume marginal cost to be say c
Now the first order condition for Profit Maximisation of a monopolist yields
Marginal Revenue = Marginal cost
= > Marginal Rev US = c = Marginal RevEngland…………………..i
Now, Revenue in US = p1y1 = y1(72 – y1/100)
MR US = dRev/dy1 = 72 – y1/100 -y1/100 = 72 – y1/50
Similarly MREng = 18 – y2/100
Hence putting the above derivations in i:-
72 – y1/50 = 18 – y2/100
Now putting values for y1 and y2 again the above equation becomes:-
72 – (7200 -100p1)/50 = 18 – (3600 – 200p2)/100
= > 54 – 144 + 2p1 = -36 + 2p2
= > 2(p1 – p2) = -36 + 90 = 54
= > p1 – p2 = 27
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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On the twentieth day of the month, room sales at the Motor Lodge Motel exceeded its breakeven point for the month. Revenue generated by room sales during the remaining days of the month will:_______.a. decrease in proportion to the additional room sales.b. cover the fixed costs associated with those additional room sales.c. be pure profit for the motel.d. increase at a faster rate than the costs associated with those sales.
Answer:
d. increase at a faster rate than the costs associated with those sales.
Explanation:
Revenue generated will increase at a faster speed than the cost associated with the sales because the fixed cost associated with the sales has alredy been covered and now the only cost which we have to deal is the variable cost only. So the returns / profit from the remaining days will also increase faster than the rate of the cost associated with them.
The record of all accounts and their balances used by a business is called a:
a. ledger (or general ledger).
b. journal.
c. book of original entry.
d. balance column journal.
e. general journal.
Answer:
A) ledger (or general ledger).
Explanation:
A company's general ledger includes all the transactions carried out by the company. Each transaction is recorded using the accounting system of debits and credits. The general ledger should basically track down every transaction carried out by the company during all of its history.
The record of all accounts and their balances used by a business is called a ledger or general ledger. It is a crucial part of the financial system of a business and helps in preparing other financial statements. Other options like journal, book of original entry etc. are also part of the accounting system but serve different purposes.
Explanation:The record of all accounts and their balances used by a business is known as a ledger or specifically a general ledger. The ledger is an important part of the financial system of a business as it encompasses every financial transaction made by the company. Consider it like a master document where all its financial data is stored and organized. These ledgers then help in preparing other financial statements like balance sheets, income statements etc.
The other options mentioned here are also part of a company's accounting system, but they serve different purposes. A journal, for instance, is the original record where transactions are first entered. A balance column journal and a general journal are both types of journals, with the first one having separate columns for debit and credit balances and the latter used for recording transactions not documented in other specialized journals.
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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
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.
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
Andy decides to go skydiving for his 40th birthday. He signs a waiver, boards the plane and prepares for the jump. Everything is going smoothly until just before landing, a down draft forces Andy down at a much faster rate into the ground, causing injury to both of his legs. Andy will likely not be able to recover for his injuries under the defense of:__________.
Answer:assumption of the risk.
Explanation:Assumption of risk refers to a legal doctrine under which an individual is barred from recovering damages for an injury sustained when he or she voluntarily exposed him or herself to a known danger. ... Essentially, the defendant is claiming that the plaintiff knew the risk but took the chance of being injured anyway.
The most important elements of assumption of risk are that the person voluntarily and knowingly assumed the risks inherent to the dangerous activity. Furthermore, it is necessary for the defendant (the person the lawsuit was brought against) to demonstrate that the plaintiff knew of all risks at the time of the injury.
Resources are not usually hired on a day-to-day basis to meet fluctuating requirements. This means that a. the maximum number of project resources should be hired for the project duration. b. if the workers are employed for the duration of the project and it may be necessary to pay them when idle or overtime when at peak demand. c. the actual work performed for each activity should be evaluated to inform the next activity of the number of workers needed. d. all projects should plan all tasks for one person to complete the activities to keep the person busy.
Answer:
C. the actual work performed for each activity should be evaluated to inform the next activity of the number of workers needed.
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.
Central City was awarded two state grants during its fiscal year ending in September 30, 2011: a 2 million block grant that can be used to cover any operating expenses incurred during fiscal 2012, and a $1 million grant that can be used any time to acquire equipment for its police department. For the year ending September 30, 2011 Central City should recognize in grant revenue in its fund statements (in millions)
Answer: $1 million
Explanation: Grants could be considered as financial offering granted to an indivual, group or organization usually by the government in other execute beneficial projects.
In the scenario above, two grants were awarded to central city.
The first is a $2million block grant for operating cost incurred in 2012 fiscal year
The second $1million which can be used anytime.
Therefore, grant revenue for the year ending September 30,2011 should recognize the second grant which is the $1 million grant that can be used any time, that means the year 2011 inclusive. To acquire equipment for its police department.
The 2 million block grant should be recognized in the grant revenue for the year 2012.
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.
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.
Barnes Plating pays employees minimum wage and offers only those employee benefits that it is legally mandated to provide. This is an example of social ________.
Barnes Plating's practice of only paying minimum wage and providing legally required benefits is an example of social irresponsibility. A socially responsible company would offer additional benefits and wage considerations.
Explanation:Barnes Plating, by paying minimum wage and offering only legally required employee benefits, is demonstrating an example of social irresponsibility. This is because, while they are abiding by the laws, they are not going beyond them to contribute to the welfare of society or their employees. A socially responsible company often offers benefits beyond legal requirements and pays wages that consider living costs, thus contributing more to society.
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Barnes Plating's practice of paying its employees minimum wage and offering only legally mandated benefits is an example of social minimalism.
Social minimalism refers to a business strategy that focuses on complying with the bare minimum legal requirements for employee compensation and benefits, often with little regard for broader social or ethical responsibilities. While this approach may help the company minimize labor costs and remain compliant with the law, it can lead to ethical concerns and potential negative consequences.
Critics argue that such practices can result in low employee morale, high turnover, and a negative public image. Companies that adopt a more socially responsible approach, providing fair wages, additional benefits, and a positive working environment, may be better positioned to attract and retain talent, enhance their reputation, and contribute to the well-being of their employees and communities. Social minimalism may save costs in the short term, but it can hinder a company's long-term sustainability and social impact.
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Hamburger Co has determined that their lowest total cost production technology is $460. If machines cost $100 and workers cost $40 what number of workers produces this cost of production, assuming Hamburger Co has already determined it will purchase 3 machines?
Answer:
4 workers
Explanation:
The cost that Hamburger Co can incur at this time is $460.
When producing the total cost is equal to fixed cost less variable cost.
Fixed cost includes nonmoveable assets that assist in production, such as machinery. The cost is fixed.
Variable costs are those costs that change in the course of production and can be varied depending on need.
Total cost = Fixed cost + variable cost
460= (3*100)+ variable cost
Variable cost= 460- 300= $160
Number of worker= Variable cost/ cost of each worker
Number of worker= 160/40= 4 workers
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.
The common types of valuable resources and competitive capabilities that management should consider when crafting a strategy do not include Multiple Choice a. valuable human assets and intellectual capital. b. valuable physical and intangible assets. c. a skill, specialized expertise, or competitively important capability. market share, profit growth, and d. increases in stock price. e. valuable organizational assets and competitively valuable alliances.
Answer: Market share, profit growth and increase in stock price.
Explanation: Valuable resources and competitive capabilities which a management should consider while crafting include personnel with requisite skills and intellectual prowess who can help mould, shape and develop instinctive strategies required in a highly competitive market, such that the organization stays ahead of its competitors. The tactical ability to align and form productive alliances or mergers or synergy between one or more goal-oriented organization might be necessary. However, strategic planning in a competitive market require guts, courage, ingenuity, panache and zeal. These qualities enables an organization to develop strategic plans required to be in front of one's competitors. As opposed to being focused on market share, increase stock prices.
How does the quantity supplied of a good with a large elasticity of supply react to a price change
The quantity supplied of a good with a large elasticity of supply react to a price change as "it will be very sensitive to price change".
Explanation:
Producer tolerance to shifts in the quality of its goods or services. Generally speaking, if prices rise the supply does so. Supply elasticity is calculated as the ratio of proportionate variability in the quantity delivered to the proportionate price change.
The amount given of a good with a high supply elasticity dramatically responds to a change in price. A small price increase induces a large supply increase and a small price decline triggers a significant supply drop. Supply elasticity is an indicator of an industry or a producer's sensitivity to price fluctuations for its product. Also considerations are the availability of critical resources, technological innovation and the number of rivals that create a product or service.
If quantity supplied of a good has a large elasticity of supply (greater than one) then the reaction is elastic.
Explanation:Elasticity of supply refers to the response that is generated by the manufacturers or producers about the price of the product based on the quantity that is demanded. When the prices of any goods or services increases the supply also increases.
It is the relationship between the quantity of the goods and devices that is supplied to the price changes of that goods or services.Elasticity of the supply refers ratio of the change in the quantity of goods and services that is being supplied to the percentage change in price of that product or services. If quantity supplied of a good has a large elasticity of supply (greater than one) then the reaction is elastic.
Porsche AG uses the label "Top Guns" to describe one segment of its customers, namely those who care about power and control and who expect to be noticed. Such a profile would be based on which type of segmentation?
A) demographic
B) occupational
C) psychographic
D) behavioral
E) gender
Answer:
The correct answer is C. Psychographic
Explanation:
This type of segmentation specializes in the study of the consumer's psychological traits and other aspects inherent in his life, which can be likes, lifestyle, interests, desires, etc. Under this segmentation, it is possible to get much closer to the ideal consumer, although it takes a lot of effort to implement it.
Answer:
C) psychographic
Explanation:
Psychographic segmentation is one of the useful types of market segmentation used in categorizing a market target to be reached, of which such categorization into subgroups is based on traits such as the values, status, attitudes, interest, beliefs, motivations or interests of the target market. The target market is categorized into groups in this regard, with each group or segment having one or more of the listed traits in common. The label given by Porsche AG to a segment of its customers he described as “Top Guns”, obviously indicates it profiled his customers based on psychographic traits.
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.
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.
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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.
What is considered one of the four major cost of quality​ categories?
Answer:
The four major cost of quality categories are:
Prevention costs
Appraisal costs
Internal failure costs
External failure costs
Explanation:
Prevention costs are incurred to ensure that products meet standard specification such that they can be seen as fit for purpose,hence the situation where customers return such goods is nipped in the bud
Appraisal costs are costs incurred to test whether products produced meet the prerequisite specification.An inspection cost is a typical example of prevention cost
Internal failure costs are costs expended in reworking and putting products in right shape when quality failure occurs in-house.
External failure costs are costs spent to remedy a quality failure situation when the goods have already been sold to customers.For instance, costs of warranties
Tiara Inc., an international clothing brand, recruited 15 people as managers. They all took a test as part of the recruitnont process e months after the recruitsent, their test scores were analyzed along with their performance on the job to find a substantial correlation between the two factors. Which of the following methods of research is exemplified in this scenario? A. Contont validation B. Predictive validation C. Conourrent validation D. Construct validation E. Diagnostic validation
"Predictive validation" methods of research is exemplified in this scenario.
Option: B
Explanation:
The degree to which a result on a scale or test forecasts ratings on some type of criterion is predictive validity in psychometric. For an instance, the validity of a cognitive test of work performance is really the association between test results and the evaluation ratings of managers.
Here in Tiara Inc. the recruited 15 managers who gave competitive exam to secure position in firm was used by the company head to analyse the substantial correlation between scores and performance in job.
Which of the following is not considered one of the potential biases in calculating the consumer price index? A. New product bias. B. Increase in quality bias. C. Coverage bias. D. Outlet bias. E. Substitution bias.
Coverage bias is not considered one of the potential biases in calculating the consumer price index.
Explanation:A price index refers to the weighted average in the prices of certain goods or services in certain region at certain time. In the consumer price index calculation, the biases arises from four different sources in which coverage bias is the major one. There are two price indices such as producer and consumer price index.
In the calculation of the consumer price index the potential bias which is a coverage bias can be reduced with BLS. The BLS has collected price information form extended stores number in order to reduce the coverage bias.
Which of the following statements is true concerning the distribution of safe payments? The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership. Safe payments are equal to the recorded capital balances of partners with positive capital balances. The distribution of safe payments may only be made after all liabilities have been paid. In computing safe payments, partners with positive capital balances are assumed to absorb an equal share of any deficit balance(s). There are no safe payments until the liquidation is complete.
Answer:
The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership
Explanation:
When the capital ratio and the profits sharing ratio in a partnership are the equal to each other, it is from the profits that the capital deficits will then be balanced. Then in the cash distribution, this will make the partner that has the highest capital loss to have priority in the cash distribution.
When the partners then request for a distribution before all of the partnership assets are sold, schedule of safe payment is prepared.
Hence, The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership is true concerning the distribution of safe payment.
Answer: A
Explanation:
The distribution of safe payments assumes that any capital deficit balances will prove to be a total loss to the partnership. If the capital ratio and profits sharing ratio are same, any capital deficit will be balanced from the profits. It is gives the partner with the highest capital loss priority in cash distribution.
A schedule of safe payment is prepared when partners desire a distribution before all of the partnership assets are sold.