Answer:
An underpriced security will plot above the security market line.
Explanation:
A security market line is plotted from capital asset pricing model(CAPM) equation that shows relationship between return of a stock and beta coefficient. An underpriced security means that it is sold below its intrinsic value hence its rate of return is higher than the return calculated by CAPM. Since the existing rate of return is higher, it will plot on the right side of the security market line which means it's above it.
If an oligopoly does not cooperate and each firm chooses its own quantity, the industry will produce a quantity of output that is _____ the competitive level and _____ the monopoly level.
a. less than; more than
b. more than; less than
c. less than; equal to
d. equal to; more than
Answer:
a. less than; more than
Explanation:
An oligopoly is when there are few large firms operating in an industry.
A competitive industry is when there are many buyers and sellers of homogenous goods and services.
A Monopoly is when there is only one firm operating in an industry.
An oligopoly firm can choose to cooperate with other firms in the industry or not cooperate.
If firms do not cooperate they produce more goods than if they cooperated. The quantity produced can never be as much as that of a competitive firm because the number of producers in an oligopoly is less than that in a competitive firm.
The output would be more than the quantity produced by a monopoly because the number of producers in an oligopoly is more than that in a monopoly.
I hope my answer helps you.
Economists usually assume that production is subject to increasing opportunity costs because:
a. not all resources are equally suited to producing every good.
b. individuals desire constantly increasing opportunities to make themselves better off.
c. if production is efficient, it is not possible to increase the production of all goods simultaneously.
d. higher production usually results in more inflation.
Answer:C
Explanation:
An investor purchases one municipal bond and one corporate bond that pay rates of return of 4% and 5.5%, respectively. If the investor is in the 20% tax bracket, his after-tax rates of return on the municipal and corporate bonds would be, respectively, _____.
Answer:
After-tax rates of return on the municipal bond is 4%
After-tax rates of return on the corporate bond is 4.4%
Explanation:
given data
rates of return = 4% = 0.04
rates of return = 5.5% = 0.055
tax bracket = 20% = 0.20
solution
we get here After-tax rates of return on the municipal bond that is
and here no taxes are levied so
rates of return = return ( 1 - 0 )
rates of return = 0.04 (1 - 0)
rates of return = 0.04 or 4%
and now we get After-tax rates of return on the corporate bond
rates of return = 0.055 × (1 - 0.20)
rates of return = 0.044 or 4.4%
You realize that many students who come to early morning hockey practice do not get up early enough to eat breakfast. You borrow $500 from your parents to start a bagel delivery service to the hockey rink in the early mornings. You are acting as______________.
Answer: An entrepreneur.
Explanation:
An entrepreneur is an individual that is identifies consumers needs and produces products/services to meet those needs. As described in the question I identified the need of the hockey players and started selling bagel to meet those needs, therefore am acting as an entrepreneur.
The General Agreement on Tariffs and Trade was a precursor to the World Trade Organization and provided a forum for tariff negotiations. True False
Answer:
True
Explanation:
The General Agreement on Tariffs and Trade (GATT) was introduced because of its principal function to allow trading without discrimination that is market are equally transacted within member nations.
For example: when a member country and its trading partners had agreed to reduce a tariff, that tariff cut will be automatically extended to every other GATT member.
Tori Inc. has some material that originally cost $72,000. The material has a scrap value of $31,900 as is, but if reworked at a cost of $2,300, it could be sold for $32,600. What would be the incremental effect on the company's overall profit of reworking and selling the material rather than selling it as scrap?
Answer:
The answer is there will a loss of $1600 if the material is reworked rather than sold at scrap value.
Explanation:
Sales value of reworked material: $32,600
Less: Cost to rework material: $2,300
Net Sales Value: $30,300
Current Scrap Value: $31,900
Net loss : $1,600
($1,600)
In one day, Sue can change the oil on 20 cars or change the tires on 20 cars. In one day, Fred can change the oil on 20 cars or change the tires on 10 cars. Sue's opportunity cost of changing oil is ________ than Fred's and her opportunity cost for changing tires is ________ than Fred's.
A) greater; less
B) less; greater
C) less; less
D) greater; greater
Answer:
Sue's opportunity cost of changing oil is more than Fred's and her opportunity cost for changing tires is less than Fred's.
Explanation:
Opportunity Cost is the value of next best alternative sacrifised while choosing an alternative. Eg : If I can read English or Science & opportunity cost of reading it is reading Science.
Oil Tires Sacrifise Ratio (Oil:Tires)
Sue 20 20 20:20 = 1:1
Fred 20 10 20:10 = 2:1 or 1:0.5
Sue can change oil by sacrifising 1 unit tire, Fred can change oil by sacrifising 0.5 unit of tire. So, Sue's opportunity cost of changing oil is more than Fred's .
Fred can change tire by sacrifising 2 units of oil, Sue can change tire by sacrifising 1 unit of oil. So, Sue's opportunity cost of changing tires is less than Fred's.
Sue's opportunity cost for both changing oil and tires is a one-to-one ratio, while Fred's opportunity cost for changing oil is lower as he sacrifices less (changing tires on 10 cars instead of 20), and his opportunity cost for changing tires is higher as he foregoes the chance to work on 20 cars instead. Thus, Sue's opportunity cost of changing oil is less than Fred's, and her opportunity cost for changing tires is greater.
Explanation:In the context of opportunity costs, Sue can change either oil on 20 cars or tires on 20 cars, whereas Fred can change oil on 20 cars or tires on only 10 cars. The opportunity cost for an individual is what they forego by choosing one alternative over another.
For Sue, the opportunity cost of changing oil is giving up changing tires on 20 cars, and vice versa. For Fred, the opportunity cost of changing oil is giving up changing tires on 10 cars, and if he chooses to change tires, his opportunity cost is changing oil on 20 cars.
Therefore, Sue's opportunity cost of changing oil is the same as changing tires - one for one. Comparatively, Fred's opportunity cost of changing oil is lower than Sue's because if he changes oil instead of tires, he is only giving up changing tires on 10 cars instead of 20. However, his opportunity cost of changing tires is greater than Sue's because he is giving up the opportunity to change oil, which he could do on 20 cars.
Thus, the answer is that Sue's opportunity cost of changing oil is less than Fred's and her opportunity cost for changing tires is greater than Fred's.
____ is the process of systematically examining information assets for evidentiary material that can provide insight into how an incident transpired.
Answer:
Forensics accounting analysis
Explanation:
Forensic accounting analysis uses auditing (accounting) and investigative skills to determine whether the financial reports of a company or an individual are valid (i.e. true). This technique can also be used to determine how certain abnormal transactions occurred and who was responsible for carrying them out.
___________is a conductor installed on the supply side of a service or separately derived system to ensure the required electrical conductivity between metal parts required to be electrically connected.
Answer:
Supply-side bonding jumper
Explanation:
A supply side bonding jumper is a transmitter on the stockpile side or inside an assistance or independently inferred framework to guarantee the electrical conductivity between metal parts required to be electrically associated.
A bonding jumper on the stock side of an over current gadget
The size of the stock side holding jumper depends on the unground stage conductors
An electrical conductor is a key component for ensuring electrical conductivity between required metal parts in a service or separately derived system, by providing a pathway for electrons to move freely, reflected in low resistance and certain material properties.
The conductor in question is an electrical conductor, which is a material that allows electrons to move freely. This is essential in ensuring that there is sufficient electrical conductivity between metal parts that must be electrically connected. In the context of a service or separately derived system, this conductor is installed on the supply side. It plays a crucial role in maintaining safety and functionality by providing a reliable conductive path for electrical currents. Conductors are characterized by their low resistance and can be made from various materials, with copper and aluminum being common for electrical wiring.
In the realm of power systems, this connectivity is paramount to form an effective electrical network. Conductors can be simple, like wires, or complex systems interconnected at nodes, which are critical junctions where electrical continuity is ensured. Moreover, the resistance of conductors is an important consideration, varying with length and material, and must be considered in electrical design to maintain efficiency and safe operation.
Which of the following statements about goods is FALSE? a. Goods-producing employees require strong technical and production skills. b. Goods-producing firms use physical inventory. c. Goods-producing firms focus on the flow of people, information, and services. d. Goods-producing facilities must be located close to raw materials, suppliers, and laborers.
The false statement about goods is that goods-producing firms focus on the flow of people, information, and services. This concept is more accurate for service-oriented firms.
Explanation:The statement among the options provided that is false about goods is 'Goods-producing firms focus on the flow of people, information, and services.' This statement is typically more applicable to service-oriented firms rather than goods-producing firms. Goods-producing firms do need to manage the flow of information, but their focus primarily lies on the manufacturing process, including the handling and transformation of physical materials and resources. Matters such as the flow of people or services are secondary to the core operation of producing goods.
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The statement 'Goods-producing firms focus on the flow of people, information, and services.' is false for goods-producing firms. These firms mainly focus on the production of physical goods rather than the interpersonal or informatic flow.
Explanation:Given the statements about goods, the statement 'Goods-producing firms focus on the flow of people, information, and services.' is FALSE. Goods-producing firms primarily focus on the production of physical items, and while they do need to manage people, information, and the services they use, their primary focus is not the flow of people, information, and services. This statement would be more accurate when describing service sector firms. Goods-producing firms include businesses that manufacture products, such as automobiles, furniture, or ice cream. These entities indeed use physical inventory, necessitate employees with technical and production skills. They typically need to be near raw materials, suppliers, and laborers since these all constitute essential inputs in their production process.
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Thomas signed a sales contract with Bricklay's, a firm that supplies bricks for private individuals. The contract specified the type and amount of bricks needed, and that Thomas would pick up the bricks from the Bricklay's warehouse 15 days later. Thomas received a document of title, but failed to pick up the goods on the stipulated date. In this scenario, at what point of time is the title to goods passed over to Thomas?
Answer:
when Thomas received the document of title.
Explanation:
When a contract is formed there has to be an offer and agreement. Bricklay's made an offer by drawing up the title documents and sending them to Thomas.
When Thomas recieves the title deeds he has accepted the offer made by Bricklay's.
So the goods have officially been passed to Thomas even if he had not picked it up
The central focus of the marketer's activities is to develop mutually beneficial relationships with customers and potential customers. If the marketer is able to convince the customer to buy the firm's products, then the customer's lifetime value to the firm is enhanced. Marketers also seek to encourage customers to _________________ the firm's products because that will ____________ the customer's lifetime value to the firm.
Which of the following terms/words best express what marketers should do to enhance a customer's lifetime value to the firm?
recommend; increase
Answer:Strong word-of-mouth communication about; increase.
Explanation: When a marketing organisation promote a mutually beneficial relationship with its customers it will help the customers to go ahead to market the company and its products with a strong word- of-mouth communication, the firm's products because that will increase the customer's lifetime value to the firm,this will help the firm to be more profitable and make more revenue now and in the future.
Cleftell Inc., a coal mining company in the United States, is the only supplier of coal in its area. The company is backed by the government as it offers its supplies at a discounted rate. Government backing makes it easier for the company to deal with legislation, thereby increasing its overall efficiency and productivity. Which of the following market structures is exemplified in the scenario?
a. Monopsony
b. Pure competition
c. Oligopoly
Answer:
Oligopoly
Explanation:
Oligopoly - it is referred to as a marketing structure in which there are few suppliers in the market and every supplier has its own unique function and unique control over the market.
In the given question, cleftell Inc is also one of that firm which has its own control over the market that is why government back them so that they will supply the coal in discounted rate as before
The value chain describes the costs associated with making a product. What box(es) are expensed immediately when incurred on the income statement as operating expenses/SGA ("period costs")?
Answer:
ALL EXCEPT PRODUCTION
Explanation:
The costs of the value chain includes: Research and Development, Design Costs, Production, Marketing, Distribution and Customer Service.
The costs of the value chain are expensed in the current year income statement because they majorly (except production costs) fall under the category called periodic costs.
Periodic costs are costs that are more aligned with the passage of time than directly traceable to units of a product or event. Another major difference between product costs and period costs is that product costs can only be incurred when the products have been acquired or manufactured, while periodic costs will apply when the goods have not been acquired or produced yet, or as aforementioned, are associated with the passage of time.
In the light of above definition, all costs within the value chain are expensed as periodic costs with the exception of production costs which obviously are product costs.
Reinforay, an aircraft manufacturer, makes passenger, cargo, short-haul, and long-haul aircraft from the same design, with many shared components. Reinforay is using a _____.
A. product platform
B. brand platform
C. channel platform
D. category platform
Answer:
a. product platform
Explanation:
Product platform -
It refers the process of designing , where all the parts of the goods or services have some common element in common , is referred to as product platform .
The method is used to -
increases the process of developing new products , reduce the cost of development , a single element acts as a identification for the product .Hence , from the given scenario of the question ,
The correct option is a. product platform .
Mineral Resource Company contracts to provide several manufacturers with tin. When a cartel of tin-producing countries suddenly embargoes future shipments of tin to Mineral Resource so that it cannot fulfill its contracts, the distributor:
a. can substitute some other material for the tin.
b. is excused from the performance of its contracts.
c. is liable for breach of contract.
d. must still supply the tin needs of its customers.
Answer:
The correct option is B
Explanation:
Contract is the legal agreement among the parties, which binds the parties to deliver or perform their obligations or the services are rendered. And in order to be legally valid, the contract need to contain some key elements.
Under this situation, the company had a contract with the manufacturers of the tin, but due to the embargoes furniture shipment, due to which it could not be able to fulfill its contract, then the distributor will be excused from the performing the contract.
An increase in the financial leverage of a firm as a result of an increase in outstanding debt has which effect on the potential reward to stockholders while increasing the risk of financial distress or bankruptcy?
Answer:
When the financial leverage of a firm increases, the potential returns (rewards/profits) of the stockholders increases, but so does the financial risks of the company.
When a company gets a lot of debt, it needs to pay interests and if it isn't able to do so, it can go bankrupt. On the other hand, the company has to distribute dividends only if it made a profit.
An increase in the leverage of a firm results in greater returns, but the higher the return, the higher the risk.
Calculate a company’s Current Assets based on the following data from its Balance Sheet: Cash - $100,000; Accounts Receivable - $18,000; Equipment - $75,000; Property - $90,000; Inventory - $50,000. a. $168,000 b. $333,000 c. $243,000 d. $118,000
Answer:
a. $168,000
Explanation:
The computation of the current asset is shown below:
= Cash + Account receivable + inventory
= $100,000 + $18,000 + $50,000
= $168,000
The current assets show a combination of the cash, account receivable, and the inventory account that is to be converted into cash within one year. The rest of the items displayed the long term assets. Hence, ignored it
Before starting a business, an entrepreneur should consider the following sacrifices: a. Professional b. Financial c. Personal d. All of these are correct.
Answer:
D. All of these are correct
Explanation:
Because truly before starting a business, an entrepreneur should consider the professional sacrifices as competence and expertise is a key factor in building an excellent business. Entrepreneurs need to have the know-how of their business or better still get able hands to handle it for them.
Setting up a Business would require some financial commitment. One which many atimes might not be convenient especially at the kick-off of the business. It's would a season of continuous investment not necessarily a season for profit making.
Personal sacrifice would be heavily needed and hence must be considered. Before starting a business, you must consider the sleepless nights, forgone comfort, play time and certain discipline you must imbibe if growing the business is indeed what is desire.
Mann, Inc., has a bonus plan covering all employees. The total bonus is equal to 10% of Mann’s preliminary (prebonus, pretax) income reduced by the income tax (computed on the preliminary income less the bonus itself). Mann’s preliminary income for the year is $200,000 and the income tax rate is 40%. How much is the bonus for the year?
Answer:
$12,500
Explanation:
Bonus = 10% x ($200,000 - taxes)
Bonus = $20,000 - 0.1T
So we must now find T:
T = 40% x ($200,000 - Bonus)
T = $80,000 - 0.4Bonus
now we can replace:
Bonus = $20,000 - 0.1($80,000 - 0.4Bonus)
Bonus = $20,000 - $8,000 + 0.04Bonus
Bonus - 0.04Bonus = $12,000
0.96Bonus = $12,000
Bonus = $12,000 / 0.96 = $12,500
The bonus for the year would be $12,500 when Mann, inc. Has a bonus plan covering all employees.
What is the bonus?Bonus is usually paid to the employees by their employers in addition to their actual salary.
Bonuses may be allocated by a company as an inducement or to reward great performance.
Computation of the bonus:
According to the question,
Bonus :
[tex]\text{Bonus} = \text{Bounus Percentage} \times\ (\text{Preliminary Income}- \text{Taxes})\\\\\text{Bonus} = 10\% \times (\$200,000 - \text{taxes})\\\\\text{Bonus} = \$20,000 - 0.1\times\rm{Taxes}[/tex]
Now, we have to find the value of taxes:
[tex]\rm{Taxes} = \text{Tax Rate}\times\text{Preliminary Income- Bonus}\\\\\rm{Taxes} = 40\% x (\$200,000 - \text{Bonus})\\\\\rm{Taxes} = \$80,000 - 0.4\timesitext{Bonus}[/tex]
Now, by arranging the above two equations, we get:
[tex]\text{Bonus} = \$20,000 - 0.1\times(\$80,000 - 0.4\times\rm{Bonus})\\\\\text{Bonus} = \$20,000 - \$8,000 + 0.04\times\text{Bonus}\\\\Bonus - 0.04\times Bonus = \$12,000\\\\0.96\times Bonus = \$12,000\\\\Bonus = \dfrac{\$12,000}{0.96}\\\\ Bonus= \$12,500[/tex]
Therefore, the bonus amount for the year would be $12,500.
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At Troysten Inc., a construction company, Edwin's job responsibilities include monitoring the work carried out by the company's site engineers. He is also responsible for ensuring that all the engineers are provided with ample guidance and supervision so that they can perform all the assigned tasks to the best of their ability. In the given scenario, Edwin's job is related to _____.
Answer:
management
Explanation:
Edwin can be classified as a middle manager because he is in charge of supervising and directing the work performed by the company's engineers.
The basic functions of management are:
planning: it is not stated, but I guess that Edwin participates in planning the daily and weekly activities performed by the engineers. organizing: Edwin organizes the tasks given to the engineers. staffing: it is not stated, but I guess that Edwin is in charge of requesting additional personal and helping in the selection process. leading: Edwin provides guidance to the engineers so they can work properly.controlling: Edwin controls the work done by the engineers.Which of the following statements concerning family businesses is correct?
1. Family members often work in the business but may not sit on the council.
2. Family businesses employ about 20 percent of America's total workforce.
3. Most top managers at family firms tend to stay in their positions much longer than those at nonfamily firms.
4. Family businesses plan for succession using a critical-point plan.
Answer:
3. Most top managers at family firms tend to stay in their positions much longer than those at nonfamily firms.
Explanation:
A key success factors in family firms is understanding the culture. This is usually the foundation of the business.
So when family members occupy a position, they tend to stay on much longer because they have intimate knowledge of the business and the goals and objectives are personal to them.
Also loyalty tends to play a part, family members have close relationships which are long-term.
The correct statement about family businesses is that family members may work in the business but might not be part of its council. Family businesses significantly contribute to job creation and come in various sizes. Unique challenges they face include succession planning and balancing family dynamics within a business environment.
The correct statement concerning family businesses is that family members often work in the business but may not sit on the council. This reflects the common structure of family-owned businesses where multiple generations collaborate, but not all family employees are involved in the governance or strategic decision-making processes of the business. Family businesses are a substantial part of the U.S. economy; while they come in various sizes, many operate on a small scale with fewer than 100 employees.
These businesses face unique challenges, such as planning for succession and navigating the complexities of family dynamics in a professional context. It is essential to note that family businesses can contribute significantly to job creation, representing 99.7 percent of all employer firms and generating a majority of net new jobs annually. However, it is a misconception to assume that family businesses employ about 20 percent of America's workforce, as the workforce distribution is much more varied.
Moreover, while many family firms may indeed have leadership that remains for extended periods, it is not universally accurate to state that most top managers at family firms stay longer than those at nonfamily firms. As for the planning of succession, family businesses often use a more personalized approach rather than a one-size-fits-all 'critical-point plan.'
Kingbird, Inc. issues $261,000, 10-year, 8% bonds at 98. Prepare the journal entry to record the sale of these bonds on March 1, 2022.
Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $255,780 ($261,000 × 98%)
Discount on bonds payable A/c $5,220
To Bonds payable A/c $261,000
(Being the issuance of the bond is recorded)
We assume the par value is $100 but the bond is issued less than the par value i.e $98 so the difference would be debited to the discounts on bond payable
The journal entry to record the sale of the bonds would be: debit cash, debit discount on bonds payable, and credit bonds payable.
Explanation:The journal entry to record the sale of the bonds would be as follows:
Debit: Cash ($261,000 x 0.98) - $255,780 Debit: Discount on Bonds Payable ($261,000 - $255,780) - $5,220 Credit: Bonds Payable - $261,000
When Kingbird, Inc. issues bonds at a discount, the cash received is less than the face value of the bonds. The difference is recorded as a discount on bonds payable. In this case, the bonds were sold at 98% of their face value, which resulted in a discount.
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The Constitution expressly grants which of the following powers to Congress? a. to receive ambassadors b. to appoint judges c. to abolish state boundaries d. to regulate interstate commerce
Answer:
d. to regulate interstate commerce
Explanation:
The United States Constitution has the commerce clause in Article 1 Section 8 which allows the Congress to control the commerce with other nations and among the states.
According to this clause, the Congress can regulate the commerce that takes place between states and because of that, the answer is that the Constitution expressly grants the power to regulate interstate commerce to Congress.
A demand curve: a. illustrates the positive relationship between price and quantity demanded. b. illustrates the negative relationship between price and quantity demanded. c. is based on the assumption of a stable supply curve. d. has a positive slope.
Answer:
b. illustrates the negative relationship between price and quantity demanded.
Explanation:
The demand curve is negatively sloped. The higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This illustrates a negative relationship between price and quantity demanded.
I hope my answer helps you
A demand curve illustrates the negative relationship between price and quantity demanded.
A demand curve illustrates the negative relationship between price and quantity demanded. As price increases, the quantity demanded decreases, and vice versa. It does not assume anything about the stability of the supply curve, so option c is incorrect.
Moreover, a demand curve can have a positive, negative, or flat slope depending on the price and quantity relationship, so option d is also incorrect.
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Felicita Brewery wants to add brown ale beer to its existing list of alcoholic products. The questions the company currently is asking itself are: What is the likely demand for the product? What impact would the new product probably have on total sales, profits, market share, and return on investment? How would the introduction of the product affect existing products? At what stage of new-product development process is this company? a Developmental stage b. Marketing stage c. Business analysis stage d, Screening stage
Answer:
Business analysis stage
Explanation:
New product development is a process of taking the advantage of existing market opportunities to introduce new products through invention ,innovation or modification of existing products.
To ensure the successful launching of a new products , series of steps are observed as guidelines so that non viable ideas can be dropped early.
One of the guidelines is business analysis which is about assessing the survival and the commercial value of the potential product through cost , revenue , market size and profit
Quincy had no idea how consumers would respond to a survey about attitudes toward a program opening up space travel to private citizens. He could use __________ to allow respondents to answer in their own words.
Answer:
a survey with open-ended questions
Explanation:
Using a survey with open-ended questions will give Quincy's survey respondents the opportunity to give their opinions about opening up space travel to private citizens.
Consumers will also be able to give feedback on their experience with the survey and other valuable input as regards improvement of the program.
Among many other responsibilities, Angela Morrison also manages two research teams at a market research firm. Team leaders from both report to her and give her regular updates on how the work is progressing. She carefully monitors the performance of both teams and gives them regular feedback on their work. This is an example of __________.a. auditing b. controlling c. organizing d. planning
Answer:
The correct answer is option B,controlling.
Explanation:
Controlling is a feedback mechanism that enables actual performance to be gauged viz-a-viz set standards within an organization in order to determine whether actual performance exceeds targets(favorable variance), or falls short of expectation(unfavorable variance).
Control is key as learning points might be drawn from outstanding performance for future purposes,the same way unsatisfactory performance requires that corrective measures be put in place if the organization must achieve its short,medium and long term goals.
This passage is excerpted from William Graham Sumner, "The Absurd Effort to Make the World Over," originally published in 1894. Sumner was an outspoken economist and highly influential sociology professor at Yale University.It will not probably be denied that the burden of proof ison those who affirm that our social condition is utterlydiseased and in need of radical regeneration. My task atpresent, therefore, is entirely negative and critical: to5 examine the allegations of fact and the doctrines which areput forward to prove the correctness of the diagnosis and towarrant the use of the remedies proposed.When anyone asserts that the class of skilled and unskilledmanual laborers of the United States is worse off now in10 respect to diet, clothing, lodgings, furniture, fuel, and lights;in respect to the age at which they can marry; the number ofchildren they can provide for; the start in life which they cangive to their children, and their chances of accumulatingcapital, than they ever have been at any former time, he15 makes a reckless assertion for which no facts have beenoffered in proof. Upon an appeal to facts, the contrary of thisassertion would be clearly established. It suffices, therefore,to challenge those who are responsible for the assertion tomake it good.20 Nine-tenths of the socialistic and semi-socialistic, andsentimental or ethical, suggestions by which we areoverwhelmed come from failure to understand thephenomena of the industrial organization and its expansion. Itcontrols us all because we are all in it. It creates the25 conditions of our existence, sets the limits of our socialactivity, regulates the bonds of our social relations,determines our conceptions of good and evil, suggests ourlife-philosophy, molds our inherited political institutions, andreforms the oldest and toughest customs, like marriage and30 property. I repeat that the turmoil of heterogeneous andantagonistic social whims and speculations in which we liveis due to the failure to understand what the industrialorganization is and its all-pervading control over human life,while the traditions of our school of philosophy lead us35 always to approach the industrial organization, not from theside of objective study, but from that of philosophicaldoctrine. Hence it is that we find that the method ofmeasuring what we see happening by what are called ethicalstandards, and of proposing to attack the phenomena by40 methods thence deduced, is so popular.The advance of a new country from the very simplestsocial coordination up to the highest organization is a mostinteresting and instructive chance to study the developmentof the organization. It has of course been attended all the way45 along by stricter subordination and higher discipline. Allorganization implies restriction of liberty. The gain of poweris won by narrowing individual range. The methods ofbusiness in colonial days were loose and slack to aninconceivable degree. The movement of industry has been all50 the time toward promptitude, punctuality, and reliability. Ithas been attended all the way by lamentations about the goodold times; about the decline of small industries; about the lostspirit of comradeship between employer and employee; aboutthe narrowing of the interests of the workman; about his55 conversion into a machine or into a "ware," and aboutindustrial war. These lamentations have all had reference tounquestionable phenomena attendant on advancingorganization. In all occupations the same movement isdiscernible in the learned professions, in schools, in trade,60 commerce, and transportation. It is to go on faster than ever,now that the continent is filled up by the first superficial layerof population over its whole extent and the intensification ofindustry has begun. The great inventions both make theintension of the organization possible and make it inevitable,65 with all its consequences, whatever they may be. I mustexpect to be told here, according to the current fashions ofthinking, that we ought to control the development of theorganization. The first instinct of the modern man is to get alaw passed to forbid or prevent what, in his wisdom, he70 disapproves.Now the intensification of the social organization is whatgives us greater social power. It is to it that we owe ourincreased comfort and abundance. We are none of us ready tosacrifice this. On the contrary, we want more of it. We would75 not return to the colonial simplicity and the colonial exiguityif we could. If not, then we must pay the price. Our life isbounded on every side by conditions. The main purpose of the passage is to * (A) delineate the course of industrial progress. (B) question the practicality of democratic ideals. (C) encourage support for individual liberties. (D) highlight the uselessness of social reform.
Answer: the correct answer is Alternative D. The excerpt enlicits many times how unnecessary it is to fight for a situation that is settled and that won't change the living standarts of workers for best. It even says that the social reform would turn those standarts to what they were in colonial times. Analyzing those opinions, it is possible to conclude that alternative D is the one that best summons what is said.
The main purpose of this passage is to highlight the uselessness of social reform and challenge the belief that our social condition needs radical regeneration.
Explanation:The main purpose of the passage is to highlight the uselessness of social reform. The author argues that our social condition does not need radical regeneration and challenges those who claim otherwise to provide proof. The passage also discusses the development of the industrial organization and its control over human life, emphasizing the restrictions on individual liberty that come with organizational advancement.
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Assume that England and Spain each has 40 labor hours available. Originally, each country divided its time equally between the production of cheese and bread. Now, each country spends all its time producing the good in which it has a comparative advantage. As a result, the total output of cheese increased by
Answer:
15
Explanation:
Hrs to Make 1 Unit of Units Produced in 40 Hours
Cheese Bread Cheese Bread
England 1 4 40 10
Spain 4 8 10 5
England's opportunity cost of producing cheese over bread = 10/40 = 0.25 breads per cheeseEngland's opportunity cost of producing bread over cheese = 40/10 = 4 cheeses per breadSpain's opportunity cost of producing cheese over bread = 5/10 = 0.5 breads per cheeseSpain's opportunity cost of producing bread over cheese = 10/5 = 2 cheeses per breadOriginally England produced 20 cheeses and 5 breads, while Spain produced 5 cheeses and 2.5 breads.
total cheese production = 25total bread production = 7.5Since England has the comparative advantage of producing cheese and Spain of producing bread, total cheese production will increase to 40 (15 units more than before), while bread production will be 5.
The total output of cheese has increased from 40 units (20 by England and 20 by Spain) to 80 units (all by England). So, the total output of cheese increased by 40 units.
To determine how the total output of cheese changes when England and Spain each specialize in producing the good in which they have a comparative advantage, we need to consider their original production and compare it to their new production.
Let's assume that in one hour of labor, England can produce 2 units of cheese and 4 units of bread, while Spain can produce 1 unit of cheese and 2 units of bread.
Originally, with 40 labor hours each, England and Spain divided their time equally between cheese and bread. Therefore, the original production for each country was:
England: (40/2) hours on cheese and (40/2) hours on bread, resulting in 20 units of cheese and 40 units of bread.
Spain: (40/2) hours on cheese and (40/2) hours on bread, resulting in 20 units of cheese and 40 units of bread.
Now, let's consider specialization. Each country will focus on producing the good in which it has a comparative advantage:
England specializes in cheese, using all 40 labor hours to produce cheese. Therefore, England now produces 2 units of cheese per labor hour * 40 labor hours = 80 units of cheese.
Spain specializes in bread, using all 40 labor hours to produce bread. Therefore, Spain now produces 2 units of bread per labor hour * 40 labor hours = 80 units of bread.
So, the total output of cheese increased by 40 units.
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