when the "invisible hand" guides economic activity, prices of products reflect______________.
a) only the costs to society of producing those products
b) both the values that society places on those products and the costs to society of producing those products
c) only the values that society places on those products
d) none of the above; when the "invisible hand" guides economic activity, prices of products are set by the government in a manner that is though to be "fair"
Answers
Answer:
b) both the values that society places on those products and the costs to society of producing those products
Explanation:
When the "invisible hand" guides economic activity, prices are known as equilibrium prices.
Equilibrium price is found where the demand curve intersects with the supply curve .
Equilibrium price is the price where both the value that society places on those products and the costs to society of producing those products are equal.
I hope my answer helps you
Related Questions
On September 1, 2017, Halley Co. issued a note payable to Fidelity Bank in the amount of $2,700,000, bearing interest at 10%, and payable in three equal annual principal payments of $900,000. On this date, the bank's prime rate was 11%. The first payment for interest and principal was made on September 1, 2018. At December 31, 2018, Halley should record accrued interest payable of:a. $ 54450. b. $ 80550. c. $181500.d. $ 89500.
Answers
Answer:
Neither of the options are correct because the correct answer is $60,000
Explanation:
The accrued interest payable is dependent upon the contract and in the contract timing of interests, principal payments and interest rates are agreed. So interest rate agreed must be used not the market rate. The interest accrued can be calculated on the principal amount not paid yet.
The first payment has been paid and the principal amount not yet paid is:
Principal amount not yet paid = $27,00,000 - $27,00,000/3 = $18,00,000
The interest accrued at the end of year relates to only 4 months (1 September to 31 December) which can be computed on principal amount not yet paid.
Interest accrued = 10% interest rate * 4/12 months * $18,00,000 principal amount unpaid
Interest accrued = 0.1 * 4/12 * $18,00,000 = $60,000
Answer:
accrued interest payable = $60,000
Explanation:
Since the first principal payment was done on September 1, 2018, by December 31, 2018, the principal's balance = $2,700,000 - $900,000 = $1,800,000
By December 31, Halley Co. had 4 months of interest payable (September, October, November, and December), so total accrued interest payable was:
principal x interest rate x periods = $1,800,000 x 10% x (4/12) = $60,000
Which of the following is TRUE about the FAFSA?
There is a fee for filing the FAFSA.
You want to apply as soon as you can for the FAFSA since financial aid is often awarded on a first come, first served basis.
Submitting the FAFSA guarantees you will receive financial aid.
You file it just one time - the year before you start your first year in college.
Answers
Answer:
The correct answer is letter "B": You want to apply as soon as you can for the FAFSA since financial aid is often awarded on a first come, first served basis.
Explanation:
The Free Application for Federal Student Aid (FAFSA) is the form that current and existing college students submit to the Scholars at Risk (SAR) Network to obtain financial support for their studies. The applications are typically received until June 30th, each year in some states while other states have the ending of February as the deadline. It is suggested for students to send their application the soonest they can since some states evaluate applications according to the order in which they are submitted.
Answer:
The correct answer is letter "B": You want to apply as soon as you can for the FAFSA since financial aid is often awarded on a first come, first served basis.
Explanation:
I just did it on edge 2020
A point inside the production possibilities curve represents a combination of goods that is
Answers
Answer: EFFICIENT
Explanation: Production possibility Curve or frontiers is a graphical representation of the combination of two goods to give an efficient output or outcome considering the prevailing market conditions.
Production possibility Curve is used by business managers to determine which product combination can a business organization derive maximum or efficient benefits. A point in the curve of the production possibility Curve represents/ shows a combination of goods that is efficient considering the prevailing market conditions.
The Securities Investor Protection Corporation is a government agency charged with administering the liquidation of failed securities firms to protect the interests of investors as much as possible. True False
Answers
Answer:
False
Explanation:
First of all, the Securities Investor Protection Corporation is not a government agency. The S.I.P.C was formed in 1970 under the Securities Investor Protection Act as a non-profit membership corporation.
In the unfortunate event that a securities firm fails (which is rather unlikely), the S.I.P.C steps in to help the investor. It can help by either transferring the accounts of the failed firm to a different firm or by liquidation.
Answer:
True
Explanation:
Odeyssey Ware
A cabinet shop produces and installs cabinets. Business is good, and the shop has an unlimited number of customers willing to pay $100 for each cabinet in- stalled. However, for the next month, the shop has only 1750 hr of labor and 1032 units of wood that it can commit for cabinet production. Each installed cabinet requires 5 hr of labor, 3 units of wood, and one frame. The frames can be prepared in the shop before installation, with each frame requiring 2 hr of the shop's labor and 1 unit of its wood, or they can be bought ready for instal- lation from the local mill for $27 each. The shop pays $6/hr for labor, $5/unit for wood, and only pays for the labor and wood used. For the next month, how many cabinets should the shop install, and how should the necessary frames be generated so that net income is maximized?
Answers
Answer:
He should install 344 cabinets and the frames should be bought for installation from the local mill
Explanation:
Time available for labor = 1750 hr, number of woods available = 1032 units
Requirement for each cabinet installed
5 hr labor, 3 units of wood and 1 frame
Number of cabinets that can be produced is 344
Total expenditure for 344 installed cabinets = (1720 hr of labor×$6) + (1032 units of wood × $5) + (344 frames × $27) = $10,320+$5,160+$9,288 = $24,768
Revenue = 344 × $100 = $34,400
Net income = $34,000 - $24,768 = $9,632
It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. Operators of hydroelectric generating plants on the river find that they must clean up the river's water before it flows through their equipment. The above situation is an example of___________.
Answers
Answer:
negative externality
Explanation:
A negative externality happens when a third party suffers from an economic transaction carried out by someone else.
In this case, the original economic transaction occurs when the paper mills decide to pollute the river instead of properly disposing their wastes. As a result of that previous transaction, a third party (the hydroelectric generating plant) must spend money and resources to clean up the pollution generated by the paper mills.
The Japanese automobile manufacturer Mazda produces the Premacy SUV in Haikou, China at a plant it built in the Chinese province. Mazda is using _____ to engage in global trading.
Answers
Answer:
foreign direct investment
Explanation:
Foreign direct investment (FDI) refers to a company from country A investing in another country B, either by setting up their own business operations or acquiring a domestic firm. FDI requires that the new company in country B is controlled and managed by the investor form country A.
Mazda is utilizing foreign direct investment strategy for global trading by establishing a production facility in Haikou, China to manufacture the Premacy SUV.
Explanation:The Japanese automobile manufacturer, Mazda, is using foreign direct investment (FDI) to engage in global trading. FDI occurs when a company invests directly in facilities to produce or market a product in a foreign country. In this case, Mazda has established production facilities in Haikou, China where they produce the Premacy SUV. This strategy allows Mazda to take advantage of cheaper production costs and gain a stronger foothold in the Chinese market, one of the largest automotive markets in the world.
Learn more about Foreign Direct Investment here:https://brainly.com/question/33119587
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Alison is offered two jobs: one pays a salary of $45,000 per year and offers three weeks of vacation, while the other offer provides two weeks of vacation and a salary of $54,000. What is the opportunity cost for Alison if she chooses the job offer of $54,000?
Answers
Answer:
The answer is: Two weeks of vacation.
Explanation:
I took the test and that is the right answer.
XYZ Corporation is headquartered in the United States and is opening a new office in Singapore. The company decides to send a U.S. citizen, who is a senior manager at its U.S. office, to help set up the new office in Singapore. The senior manager is referred to as______ in Singapore.
Answers
Answer:
Expatriate
Explanation:
An expatriate is a professional who opts to works in another country other than his or her native country. To be regarded as an expatriate, the worker has to be highly skilled. He or she must be living and working in a foreign country.
An expatriate leaves their country to a different nation to provide specialized labor services, not for any other reason. The US citizen leaving for Singapore will be described as an expatriate. He is highly skilled and knowledgeable on the operations of XYZ corporations. The purpose of him being in Singapore is to offer his expertise to the new branch.
Suppose that the hypothetical country of Andesland suffers from chronic scarcity of its staple grain, quinoa. True or False: The country of Andesland must be a developing country, since scarcity is not a problem in developed countries.
Answers
Answer:
False
Explanation:
Scarcity refers to a state wherein the resources available in a nation are not enough to satisfy the wants of it's people. Scarcity is less pronounced in developed nations, yet it exists.
For instance, water scarcity is common to both developed and developing nations. A nation may be really abundant in one resource say oil reserves and yet very deficient in other resources, which it needs to import to satisfy the wants of it's people.
In the given case, Andesland suffers from chronic scarcity of Quinoa. Merely on this premise, Andesland cannot be characterized as a developing nation as Scarcity is common to both developed and developing nations.
When faced with a business problem, Lauren, a young shoe store owner, discusses business problems with Kurt, the assistant manager and an employee for over 30 years. Lauren believes Kurt "has seen it all" and knows there are few really new ideas; plus the business has done many simple things, such as offering friendly service, to create and maintain a competitive edge. Lauren's management style is best described as __________.A. bottom-up.
B. family style.
C. contingency.
D. evidence-based.
E. behavioral.
Answers
Answer and Explanation:
D. evidence-based
Kevin had $6,270 in his savings account at the beginning of this year. This amount includes both the $6,000 he originally invested at the beginning of last year plus the $270 he earned in interest last year. This year, Kevin earned a total of $282.15 in interest even though the interest rate on the account remained constant. This $282.15 is best described as:A. simple interest.
B. interest on interest.
C. discounted interest.
D. complex interest.
E. compound interest.
Answers
Answer:
C. discounted interest
Explanation:
Compound interest increases every year, unlike simple interest, which remains constant. The reason why compound interest amount increase is because the interest earned also earns interest. The term compounding refers to adding interest earned to the principal amount. This makes the interest gained in the subsequent period higher as it will be based on a larger principal amount.
Kevin earned a higher interest in the second year because his principal amount increased in the second year. The interest he earned in the second year was added to the principal amount of $6000. He must have a compound earning interest account
Danes generally are not afraid of taking chances; they are comfortable doing things that are not carefully thought out or planned. Denmark's "flexicurity" policy combines free labor markets with adjustable welfare benefits. This is an example of the application of Hofstede's typology under the values which highlight: Group of answer choices
Answers
Answer:
uncertainty avoidance
Explanation:
Based on the information provided within the question it can be said that this is an example of the application of Hofstede's typology under the values which highlight uncertainty avoidance. This term refers to the difference between cultures pertaining to the amount of unpredictability that they can tolerate. Which in this scenario is stating that the Danes have a high tolerance for unpredictability.
The approaches and activities of managers in short-run and long-run planning and control decisions that increase value for customers and lower costs of products and services are known as: a. value chain management b. enterprise resource planning c. cost management d. customer value management
Answers
Answer:
C. Cost management
Explanation:
Cost management is a process or method of reducing cost of operation or production expenses of the business so as to provide cheaper goods and/or services to consumers.
It helps a firm forecast future expenditures in other to achieve their budgeting goals.
Hat's accounting records showed the following:
Inventory, January1 $35,000
Purchases, January 1 through May 1 200,000
Sales, January 1 through May 1 250,000
Inventory not damaged by flood 30,000
Gross profit percentage on sales 40%
What amount of inventory was lost in the flood?
A. $150,000
B. $85,000
C. $105,000
D. $55,000
Answers
Answer:
D. $55,000
Explanation:
Sales = 250,000
Gross Profit = 250,000 x 40% = 100,000
Cost of goods sold = 250,000 - 100,000 = 150,000
Cost of good sold = Opening Inventory + Purchases - Closing Inventory
150,000 = 35,000 + 200,000 - Closing Inventory
150,000 = 235,000 - Closing Inventory
Closing Inventory = 235,000 - 150,000
Closing Inventory = 85,000
Inventory damaged by flood = 85,000 - 30,000 = 55,000
Chelsea, Inc. uses the job costing method and uses direct labor hours as the allocation base. In 2016, the total estimated and actual overhead costs for Job 3489 were $250,000 and $275,000, respectively. The total estimated and actual direct labor hours for Job 3489 were 25,000 and 28,000, respectively.Which of the following represents the MOH allocated to Job 3489?1. Predetermined MOH rate= total estimated manufacturing overhead costs/ total estimated amount of the allocation base2. $250,000/ 25,000 DLH= $103. MOH allocated to job= predetermined MOH rate * actual amount of allocation base used by the job4. $10 * 28,000 DLH= $280,000
Answers
Answer:
3. MOH allocated to job= predetermined MOH rate * actual amount of allocation base used by the job
Explanation:
3. MOH allocated to job= predetermined MOH rate * actual amount of allocation base used by the job
The predetermined overhead rate is used to apply manufacturing overhead costs to production jobs. the quantity of a cost driver required by a particular job is multiplied by a predetermined overhead rate to determine the amount of overhead cost applied to the job.
An estimate is made of
the amount of manufacturing over head that will be incurred during a specific period of time andthe amount of the cost driver ( or activity base) that will be used or incurred during the same time period. the predetermined overhead rate is computed as followsPredetermined Overhead Rate= Budgeted Manufacturing Overhead Cost/ Budgeted amount of cost driver
The predetermined overhead rate is used to apply manufacturing overhead costs to production jobs. The quantity of the cost driver ( or activity base ) required by a particular job is multiplied by the predetermined overhead rate to determine the amount of overhead cost applied to the job.
A 37-year-old client with type 1 diabetes and good glycemic control is pregnant for the third time. Her first child is 4 years old, and her second pregnancy resulted in a stillbirth. She is seen in the antepartum testing unit for a nonstress test (NST) at 33 weeks' gestation. What are the primary risk factors in the client's history that indicate a need for the NST? Select all that apply.
1.Age greater than 35 years
2.The risk for placenta previa
3.The risk for placental insufficiency
4.A history of stillbirth from her last pregnancy
5.Maternal history of hypertension
Answers
Answer:
3,4 and 5
Explanation:
A pregnant woman with diabetes is prone to placenta insufficiency thus being unable to support the fetus which can lead to fetal death. Additionally, a history of hypertension which is usually associated with diabetes can also affect efficient functioning of the placenta. Lastly, the history of stillbirth is also an indication of NST.
In Agile projects early risk planning, assessment and response planning is done at a high level, and more detailed and timely risk management occurs during the planning of each subsequent iteration, in daily stand-up meetings, and in retrospectives at the end of each iteration.True / False.
Answers
Answer:
TRUE
Explanation:
Quick program management relates to the factors which determine the success or failures of a task. Risk assessment doesn't need to provide structured risk reports and reviews on agility programs. Risk management is integrated into scrum jobs, tools, and activities.
Agile risk assessment is achieved more by then describing activities. Several Agile methods search throughout the process to define and minimize the risks.
At Zara, clothes are ironed in advance and packed on hangers, with security and price tags affixed. This system means that employees in Zara stores simply move items from shipping box to store racks, spending most of their time on:
Answers
Answer:
The correct answe is: Value-added functions such as helping customers find what they want.
Explanation:
Customer service is a necessary investment in any company, as important as the product or service we sell.
The added value is the additional one offered to the customer for the purchase of one of their products or services. The objective is for the client to feel that he is obtaining greater benefits. Usually, value added is a rare feature in companies.
To the extent that a company is able to create a product or service that offers added value, it will have greater growth potential. This does not imply that other companies that are already underway cannot generate added value. Moreover, they are obliged to do so to differentiate themselves from their competition.
Generating added value in your products allows you to increase your prices, every time you give customers a product or service that is not registered in the competition.
Antonio owns property on which a gasoline station once stood. Josh agrees to buy the land so that he can build an office on it. They include language in the contract making the purchase contingent on a determination that there are no environmental problems with the property. The contingency representsa. a condition subsequent.b. a concurrent condition.c. an implied condition.d. a condition precedent.
Answers
Answer:
The correct answer is letter "D": a condition precedent.
Explanation:
Condition precedents are certain conditions that must be met or provided so that an agreement or contract can be signed. Structurally speaking, a condition precedent implies "A" action must take place so that action "B" can happen. In that case, "A" represents the condition precedent.
Because of an accident Royce was involved in, his insurance company has increased his annual premium for auto insurance by 5.2%. His original policy was set up using the premiums listed below. What is his new annual premium after the increase in the accident?
a. $514.76
b. $543.00
c. $548.20
d. $571.24
Answers
Answer:
D) $571.24
Explanation:
Royce' premiums for the previous year were:
bodily injury $22.50property damage $144.75collision $275.75comprehensive $100The total premium of the policy was $543
Since the premiums will increase by 5.2%, the new total premium will be = $543 x 1.052 = $571.24
Answer:
D
Explanation:
Bartie's Inc. sells watercolors and pastels that are marketed as safe for use by children. However, several accounts of lead poisoning were reported in children who used the products. An investigation revealed that the company was knowingly manufacturing colors that contained a significant amount of a toxic heavy metal. Which of the following torts has Bartie's committed? A) negligence B) Negligence C) misrepresentation D) conceals a defect in a product
Answers
Answer:
C) misrepresentation
Explanation:
Misrepresentation is the act or offense which gives the nature of something as false or a misleading account of it.
The aim of a fraudulent action is to deceive an innocent party into believing something has extreme worth (or is worthless), something that the offender knows is inaccurate.Rescission and/or real damage are the solutions for misrepresentation. The complainant may seek cancelation and damages for dishonest and malicious misrepresentation.
An observer may conclude that the organizational culture of Zappos, an online retailer for shoes and clothing, might be the basis for its competitive advantage. However, reverse social engineering to crack Zappos' code of success might be much more difficult for a company trying to exactly imitate its strategy. Thus, the source of Zappos competitive advantage is said to be ___________.a. non-ambiguous
b. socially complex
c. inexhaustible
d. non-substitutable
Answers
Answer:
b. socially complex
Explanation:
When competitive advantage are based on such the source is said to be "socially complex". That is the ability for a firm to imitate another firm because of its resources and capabilities and this advantage might not yield positively in the long run.
Answer:
B) socially complex
Explanation:
When something is said to be socially complex, it means that it involves several aspects of human existence or in this case, corporate existence. As humans we deal with different phenomena in our cultures, e.g. immigration, conflicts, political movements, unions between individuals (formerly marriages), etc.
A socially complex organization has a strong and unique organizational culture, well defined and efficient leadership and strong interpersonal relationships between the internal actors (employees and management) and also with external actors (customers and their relationship with the organization).
That is why Zappo's organizational model is so hard to copy since you cannot replicate an organization's culture, you can only try to imitate it but the results may not necessarily be positive. What works for a society might not work for another, and the same applies to different companies.
Ricardo is paid $21 an hour for the first 40 hours he works in a week. For each additional hour he works, he is paid 1.5 times his regular wage. How much will Ricardo earn if he works 46 hours in a week?
Answers
Answer:
Ricardo will earn $1,029
Explanation:
Regular wage: $21 an hour for the first 40 hours
If he works 46 hours
For the first 40 hours, his wage will be $21 × 40 = $840
Wage for each additional hour = 1.5 × regulate wage = 1.5 × $21 = $31.5
Wage for additional 6 hours = $31.5 × 6 = $189
Total wage = $840 + $189 = $1,029
The Mars company's new Topeka, Kansas, manufacturing plant is the first new facility the company has opened in North America in 35 years. The new plant is which type of tangible resource?
Answers
Answer: Physical Resource
Explanation: Physical resource may be described as material assets or tangible resources owned by a business. Physical resources may include buildings, jewelleries and ornaments, land, vehicles, cash and so many other. In most cases, physical resources are visible to the eye and are sellable as they can be easily liquidated and have a set value, they can also be used as collateral for loans and so on. They are essential for financial analysis as it helps evaluate financial status of a business.
Paula used to check her voice mail each time she returned to her office after a meeting or break. Now she checks her voice mail in the morning, before lunch, and once in the afternoon. What is one effect Paula can expect from having scheduled times to review voicemail messages each day?
A. Paula will have fewer calls to check.
B. Paula will improve her work efficiency.
C. Paula will improve her phone manners.
D. Paula will need to return fewer calls.
Answers
Answer:
B, Paula will improve her work efficiency
Explanation:
Scheduling times to review voicemail messages is a time management and efficiency improvement skill.
This is because Paula has maximum concentration/dedication on/to whatever task Paula is working on without having to interupt her flow by going through voicemail messages intermittently. This dedication/concentration brings about an improved work efficiency in Paula and she can acheive a lot more than when she had no voicemail review schedule.
Cheers.
At the beginning of 2019, Florida Road Construction entered into a contract to build a road for the government. Construction will take 4 years. The following information as of 31 December 2009 is available for the contract:
1. Total revenue according to contract $10,000,000
2. Total expected cost $8,000,000
3. Cost incurred during 2009 $1,200,000
Assume that the company estimates percentage complete based on costs incurred as a percentage of total estimated costs. Under the completed contract method, how much revenue will be reported in 2009?
A. None.
B. $300,000.
C. $1,500,000.
Answers
Answer:
A. None
Explanation:
A is correct because Under the completed contract method, no revenue would be reported until the project is completed.
On November 1, 20X1, Starbucks paid the rent of $90,000 for 40 of its stores in Colorado and Nebraska. The rent covers the period, November 1, 20X1 through March 31, 20X2. Assuming that Starbucks prepares quarterly financial statements, how much rent expense does Starbucks record on (i) November 1 and (ii) December 31?
Answers
Answer:
Part (1) November 1
The amount paid is the rental advances and must be recorded as advances which falls under the current asset category:
Dr Rental Advances $90,000
Cr Bank account $90,000
Part (2) December 31
On this date, some of the rental advances paid would be realized as expenses from the period November 1, 20X1 to December 31, 20X2.
This time duration constitutes to 2 months and the rental advance made on November were for five months. Out of these 5 months, 2 months share must be recognized as expense which is
The relevant entry would be:
Dr Rental Expenses $36,000
Cr Rental Advances $36,000
Claudia, a senior accountant, likes to work on her own and hence does not come out as a team player. She takes up all the work that may or may not be allotted to her. Instead of getting work done by her subordinates, she prefers to do it herself. In this scenario, which of the following is the most evident management mistake being committed by Claudia?A) Overmanaging
B) Being overly ambitious
C) Insensitivity to others
D) Inability to staff effectively
Answers
Final answer:
Option D. Claudia's action represents an Inability to staff effectively because she does not delegate to her team, hindering their development and potentially leading to her own burnout. Effective delegation is crucial for empowering employees and ensuring the success of the team.
Explanation:
In the scenario described, the most evident management mistake being committed by Claudia is D) Inability to staff effectively. By taking up all the work and not delegating to her subordinates, Claudia is not utilizing her team's capabilities, potentially leading to burnout and a lack of team development.
Delegating tasks allows subordinates to grow and learn, contributing to the overall success of the team and the organization. Claudia's actions indicate a reluctance to empower her team and distribute power equitably, which can reduce the productivity and motivation of employees, as well as increase their dependency on her, resulting in an inefficient managerial style.
Johnson Enterprises uses departmental overhead rates to allocate manufacturing overhead to jobs. The company has two divisions: Production and Assembling. The Production Division uses a departmental overhead rate of $40 per machine hour, while the Assembling Division uses a departmental overhead rate of $25 per direct labor hour. Job 757 used the following direct-labor hours and machine hours in each division.
Actual Results
Production Division
Assembling Division
Direct labor (DL) hours
10
7
Machine Hours
12
9
The cost for direct labor is $35 per hour and the cost of the direct materials used by Job 757 is $1,500.
How much manufacturing overhead would be allocated to Job 757 using the departmental overhead rates?
Answers
Answer:
$665
Explanation:
The computation of the manufacturing overhead is shown below:
= Departmental overhead rate per machine hour × number of machine hours + departmental overhead rate per direct labor hour × number of direct labor hours
= $40 × 12 hours + $25 × 9 hours
= $480 + $225
= $665
We use only the departmental overhead rate for finding out the manufacturing overhead account