Goods are material items or products that customers will buy to satisfy a want or need.
In economics, goods are those that fulfill human needs and offer usefulness, such as to a customer buying a pleasant product. It is usual practice to distinguish between transferable products and non-transferable services.In order to live our daily lives, we need goods. We cannot survive without them. However, corporations create them to help us more easily meet our needs and desires. They gain money by doing this.The total sum that your company spent on expenses directly associated with the selling of goods is known as the cost of goods sold. Depending on the nature of your firm, this could also include raw materials, packaging, direct labor involved in making or selling the product, and items bought for resale.Thus this is the answer.
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Between October 2014 and October 2015, the CPI in Canada rose from 110 to 124 and the CPI in Mexico rose from 200 to 229.1. What were the inflation rates for Canada and Mexico over this one-year period
3.3 percent for Canada and 9.1 percent for Mexico is the answer
Inflation is a common rise in the prices of goods and services in the economy. As general price levels rise, fewer goods and services are purchased by each currency unit. As a result, inflation responds to a decline in the purchasing power of money.
Inflation is the rate of increase in price over a period of time. Inflation is usually a wide range of indicators, including general rises in prices and rising living costs in the country.
Inflation is a measure of the rate of increase in the prices of goods and services in the economy. Inflation can occur when prices rise due to rising production costs such as raw materials and wages. Increased demand for products and services can lead to inflation as consumers are willing to pay more for their products.
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Bertrand Incorporated purchased some shop equipment for $4,500 in cash. By mistake, the journal entry debited the Office Equipment account rather than the Shop Equipment account. What correcting entry would be necessary
the correcting entry that would fix the error of debiting the Office equipment account is Debit Shop Equipment $4,500 and credit Office Equipment $4,500.
how can the accounting error be corrected?the way to correct this error is to take the purchase from the office equipment account and put it into the shop equipment account.
as the office equipment account is an asset, you should credit it to remove it. the shop equipment account should then be debited by the same amount of $4,500.
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In macroeconomics, _____________________ denotes the relationship between the total quantity of goods and services and the price level for output. macroeconomic equilibrium aggregate supply (AS) aggregate demand (AD) potential GDP
Aggregate demand is the relationship between the total quantity of goods and services demanded (from all the four sources of demand) and the price level, all other determinants of spending unchanged. The aggregate demand curve is a graphical representation of aggregate demand.
What is Aggregate Demand ?Aggregate demand is a macroeconomic term that represents the total demand for goods and services at any given price level in a given period.
Aggregate demand over the long term equals gross domestic product (GDP) because the two metrics are calculated in the same way.Aggregate demand is the sum of four components: consumption, investment, government spending, and net exports.Learn more about Aggregate Demand here:
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If a manager is concerned about doing the work with the least cost and waste possible, then his or her primary managerial concern is
If a manager is concerned about doing the work with the least cost and waste possible, then his or her primary managerial concern is effectiveness.
Management FunctioningA manager is somebody who can lead, direct and control tasks and individuals in their association without forcing their position. In reality as we know it where a more casual working design is turning out to be progressively famous, a director needs to work with their group to accomplish bigger objectives. Elements of the board are an extraordinary beginning stage to find your balance before you jump straight into your job as a manager.Elements of the board assist you with remaining informed about what you want to do and in what way that you can direct your staff in like manner. The board specialists like Fayol and Gulick clarify the elements of the executives for furnish yourself with the right abilities to turn into a cultivated administrator.
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Richard Simmons, a sales rep for a firm that makes a line of pumps for keeping construction sites dry, has just been contacted by the production foreman for Camp Construction Company. Two of Camp?s drainage pumps appear to be malfunctioning. However, before Simmons calls on the company, the production foreman cautions him to first visit their purchasing agent. Who would be Simmons best source of pre-approach information before he schedules a visit with the purchasing agent?
The best source of information about pre-approach would be the production foreman who spoke with Simmons before he scheduled a meeting with the purchasing agent.
In the manufacturing sector, a production foreman oversees the daily activities and workflow of a production environment. This person may exercise varying levels of supervision, handle particular obligations or take on a variety of tasks.
What exactly does a production manager do?Planning, directing, and coordinating activities in a manufacturing or industrial plant environment are the responsibilities of a production foreman.
What exactly does a purchasing agent do?When selecting suppliers and products, purchasing agents and buyers take into account pricing, quality, availability, dependability, and technical support. Buyers and purchasing representatives purchase goods and services for businesses to utilize internally or to market. They examine the quality of the items, negotiate contracts, and assess suppliers.
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Snuggle Toys, Inc. had the following summarized results for the month ending July 31:
Actual Budget
Revenues $ 60,000 $ 52,000 Costs 53,600 45,600 Operating profits $ 6,400 $ 6,400 As the cost accountant, which single note to the above financial results is most appropriate in the report to management?
i. Costs as a percentage of revenues are above budget and a further scrutiny of the results might be appropriate.
ii. Revenues are above budget and a bonus based on this increase should be considered.
iii. Costs are 17.5% above budget and the department manager's position should be critically evaluated by senior management
iv. The departmental manager is performing to expectations because budgeted income equals actual income.
A drug company that makes pain relief medication with an advertising slogan, "targeted relief for pain," is using which type of segmentation strategy that directly focuses on a specific consumer problem?.
Needs segmentation strategy is used by the drug company.
Segmentation is a form of sorting: Arranging objects in a systematic way. once objects are sorted into awesome companies (segments) based on a sure criterion, specific moves can then be taken based on that criterion. similarly, marketplace segmentation includes the sorting of the market.
Market segmentation is typically divided into four organizations: demographic, geographic, behavioral, and psychographic. Every segmentation method offers unique advertising and marketing answers, mainly when segments are mixed.
Not unusual examples of market segmentation encompass geographic, demographic, psychographic, and behavioral. Groups that understand marketplace segments can prove themselves to be powerful marketers while incomes a more go back on their investments.
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Relative to insurance, when a payout arrangement is made in which one receives all benefits in a single payment, this is called a Question 11 options: cash payout. lump-sum option. single distribution plan. point plan. None of these.
Answer:
Lump-sum payment
Explanation:
A ________ transaction in the foreign exchange market requires delivery of foreign exchange at some future date.
A Forward transaction in the foreign exchange market requires delivery of foreign exchange at some future date.
A forward contract, or simply a forward, is a sort of derivative instrument in finance. It is a non-standard contract between two parties to buy or sell an asset at a specific future time at a price agreed upon at the time of the contract's conclusion.
A forward transaction is when two people or other entities bind themselves to carry out a trade in the future rather than right now. Futures deals differ from spot trading due to the timing of the transactions.
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A statement of cash flows explains the difference between the beginning and ending balances of: Multiple Choice Equity. Cash and cash equivalents. Working capital. Cash and intangible assets. Net income.
A statement of cash flows explains the difference between the beginning and ending balances of Cash and cash equivalents.
What is statement of cash flows?Statement of cash flow can be defined as a statement that help to show a company or an organization inflow and outflow of cash or movement of cash at a particular period of time.
A statement of cash flows tend to explain the difference between the beginning and ending balances of a company Cash and cash equivalents.
Therefore the correct option is B.
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exists when a firms manager knows more about the firms prospects than the typical investor does. Multiple choice question. Asymmetric data Symmetric information Asymmetric information Symmetrical symbiosis
Asymmetric Information is the answer.
In contract theory and economics, information asymmetry deals with the study of decisions in transactions where one party has more or better information than the other.
"Asymmetric information" is a term that refers to the case where one party in a transaction has more information than the other. For certain transactions, the seller has access to the buyer due to the presence of asymmetric information. In this case, the seller has more knowledge about the item being sold than the buyer.
A common example of asymmetric information is a used car salesman. The seller knows if the car is defective, such as an electrical system failure, but the customer does not. Second, the customer is willing to pay more if he knows about all the flaws in the car than if he didn't.
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An American car company sells 200 cars to Germany for a total of $600,000, while the United States imports 100 cars from a German car company for a total of $500,000 from Germany. What would be the effect of this trade agreement on the GDP of the United States?
The effect of this trade agreement on the GDP of the United States is the GDP of the country will increase due to net exports being positive.
What is an export?When any individual, organization, or country sends their goods to another country with the objective of sale is called a return. The organization receiving goods will provide money in exchange.
The GDP of a nation over a specific time period calculates the total value of all finished goods and services that are purchased by the end user. It records all production that takes place within a nation's boundaries.
This exchange will help to increase the flow of funds in the country and helps to increase the GDP of a country. When the country has more exports than imports it reflects more incoming cash which helps increase the economy as well.
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What component of GDP would a consumer buying a new house affect?
O government spending
O net exports
investment
O consumer spending
Answer:
Explanation:
A: the government is not buying the home. You are. Not A
B: The house is not being moved on any soil but American Soil. Not B
C: You could argue that a home is an investment, but not to the GDP. The answer is not C.
D: GDP would call this consumer spending.
Answer:
consumer spending
This is because, consumer spending is the same as personal consumption expenditure
What kinds of ""failures"" occur when you experiment in order to learn under conditions of high uncertainty?.
when we experiment in order to learn under conditions of high uncertainty the failure like the ability to evaluate a proposal's value and justify further investment.
An investment is a dedication of an asset to achieve an increase in value over a period of time. Investing requires the sacrifice of current assets such as time, money, and effort.
In finance, the purpose of an investment is to get a return on the money you invest. Revenue consists of realized gain (profit) or loss from the sale of real estate or investment, depreciation (or depreciation) of unrealized capital, or investment income such as dividends, interest or rental income, or a combination of capital income and income. increase. Returns may also include exchange gains/losses due to exchange rate fluctuations.
Investors generally expect higher returns from higher-risk assets. Low-risk investments usually have lower returns. Similarly, high risk is associated with high-profit opportunities.
Investors, especially beginners, are often advised to diversify their portfolios. Diversification has the statistical effect of reducing overall risk.
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British economist David Ricardo argued that states should trade based on their _____, whereby each state produces and exports those products that it can produce most efficiently relative to other states.
British economist David Ricardo argued that states should trade based on their comparative advantage, whereby each state produces and exports those products that it can produce most efficiently relative to other states.
Along with Robert Malthus, Adam Smith, James Mill, and other notable classical economists, David Ricardo was a British political economist. He was also a politician and a member of the British and Irish Parliament.
According to Ricardo's renowned comparative advantage theory, countries can benefit from a trade advantage by concentrating on producing items that have the lowest opportunity costs when compared to those of other countries.
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A company that continually adds more features to an existing product to try to appeal to more customers may end up overwhelming customers and create an unintended consequence known as Blank______.
A company that continually adds more features to an existing product to try to appeal to more customers may end up overwhelming customers and create an unintended consequence known as Feature fatigue.
What is Feature fatigue?Consumers have a propensity to steer clear of products that seem to be feature-rich due to feature fatigue. It is a phenomenon of the modern-day brought about by the increase in the number of features included in goods and services. The issue is that adding functionality makes goods more challenging to utilize. Even when the additional features don't completely expand the usefulness (like phones that double as cameras), the complexity they add to the current task can be mind-boggling.To prevent feature fatigue, focus on usability rather than utility. Display specific characteristics as appropriate. Keep to your initial product vision. Turn on features for those consumers who specifically require them.
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According to the job characteristics model, task identity requires performing a job from beginning to end. a. True b. False
According to the job characteristics model, task identity requires performing a job from beginning to end.
What is Task identity?Task identity can be regarded degree to which work is being performed by an employee.
Therefore, it clearly define identify the outcome of their effort and task identity requires performing a job from beginning to end.
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How do taxes influence responsible financial planning?
Answer:
Proper tax planning makes it easier to build your personal finances and afford the things you want. Additionally, by anticipating taxes when you create your financial plan, it's possible to significantly boost how much money you will have in retirement.
Explanation:
Combining the razor-razor-blade model and the subscription model means that telecom providers make their money through lengthy service plans, which in turn means that it is crucial that they keep their ______ rate, or the proportion of subscribers who leave, down.
The combined models led to the crucial decision that the telecom provider should keep their churn rate or the proportion of subscribers will leave.
What is a churn rate?This refers to the annual percentage rate at which customers stop subscribing to a service or employees leave a job.
Hence, the razor-razor-blade model and the subscription model led to the crucial decision that the telecom provider should keep their churn rate or the proportion of subscribers will leave.
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When Chevy drew inspiration from Tesla to develop its electric vehicle, the Bolt, it was an example of using Blank______ for new product-ideas.
When Chevy drew inspiration from Tesla to develop its electric vehicle, the Bolt, it was an example of using competitive product ideas for new product-ideas.
Competitive items are those that your target market may prefer to yours over. How close a competing product's features and solutions are to your own can help you spot it. Competitive goods may consist of: things that are tangible, like clothing and toys.A product idea is a design or strategy for a brand-new good that a business can create and sell in a specific market. It describes the item's function, features, and certain important design components. A manufacturer will employ the final design to construct the product, therefore many product concepts will include mechanical or engineering components.A competitive strategy is a long-term marketing plan created by businesses to protect their position in the market and obtain a competitive edge.Thus this is the answer.
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If some activity creates external benefits as well as private benefits, then economic theory suggests that the activity ought to be:.
For ________________ one nation could be more efficient at both goods exchanged, but they should produce only the item that they are comparatively more efficient at producing (lower opportunity cost).
The answer is comparative advantage.
Mostly in situation of comparative advantage, one company's opportunity cost (that is, the potential gain that has been foregone) is lower than that of another. This form of advantage is held by the firm with the lowest opportunity cost, and consequently the least potential gain lost.
Comparative advantage may also be defined as the best alternative given a trade-off. When comparing two choices, each of which has a trade-off (some benefits and some drawbacks), the one with the greatest overall package has the comparative advantage.
Therefore, the answer is comparative advantage.
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A boater taking his new powerboat out on a large lake ran out of gas because of a defective seal in the gas tank. The defect was not discoverable by an ordinary inspection. His frantic signaling alerted the captain of a sightseeing boat passing by. The captain pulled up alongside to assist and attempted to restart the boat. A spark ignited a pool of gas that had leaked from the gas tank and collected in the lower part of the boat, causing an explosion and fire. The captain was severely burned and died from his injuries. The captain's estate brought a wrongful death action based on strict liability against the powerboat dealer and the manufacturer. Evidence at trial established that the dealer had sold the manufacturer's boats for years without any problems reported by customers.
Can the captain's estate recover any damages from the dealer?
A. Yes, unless the jury finds that the boater was negligent in failing to investigate where the gas had gone.
B. Yes, because harm to someone in the captain's position was a foreseeable result of the gas leak.
C. No, because the dealer had no reason to anticipate that the manufacturer assembled the gas tank improperly.
D. No, because the captain did not have a sufficient relationship to the boater to make the dealer liable for the captain's death.
The correct statement for the given condition is given by option (B): "Yes, because harm to someone in the captain's position was a foreseeable result of the gas leak".
What is Strict Product Liability?The strict liability rule in product liability claims asserts that a seller, distributor, or maker of a defective product is accountable for another person's harm - regardless of what effort he or she did to ensure the product's flaw never occurred.
In the given case, the reason for the recovery for damages from the dealer is-
Because the captain was a foreseeable bystander and the dealer is a business supplier, the captain's estate can claim from the dealer under strict products liability.Only the amount that the dead could have obtained in a personal injury case if he had lived is admissible in a wrongful death action. Because the dealer is a commercial provider of the boat and is liable if it supplied a product that was so defective as to be unreasonably dangerous, the captain may have collected from the dealer in a products liability lawsuit based on strict liability.The flaw in the gas tank assembly was extremely dangerous since it allowed gas to leak out and collect in places where it could be ignited.The debilitating impact of the gas leak made it likely that someone passing by would come to the boater's aid, bringing them into the danger zone of the leak (i.e., danger invites rescue).Therefore, the explosion caused by the leak was both the direct and indirect cause of the captain's death. As a result, the captain's estate can sue the dealer for damages.
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Title VII of the 1964 Civil Rights Act also applies to employers who employ less than 15 persons for a maximum of 15 hours per week during the year. Group of answer choices True False
True.
Title VII of the Civil Rights Act of 1964 (Title VII), prohibits employment discrimination based on race, color, religion, sex, or national origin;
The Equal Pay Act of 1963 (EPA), protects men and women who perform substantially equal work in the same establishment from sex-based wage discrimination;
The Age Discrimination in Employment Act of 1967 (ADEA), protects individuals who are 40 years of age or older.
The U.S. Equal Employment Opportunity Commission (EEOC) enforces all of these laws. EEOC also provides oversight and coordination of all federal equal employment opportunity regulations, practices, and policies.
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A biotech start up firm secured a loan from a private investor to purchase land and to build a laboratory facility on that land with a mortgage on the land and the facility. Subsequently, the firm sold the developed property to a partnership. The deed stated that the partnership took the property subject to the mortgage. Later, the partnership sold the developed property to a corporation. Each deed was properly recorded promptly after its applicable closing. Immediately after closing, the president of the corporation, in exchange for adequate consideration, promised the partnership that the corporation would assume the mortgage. For four months, neither the corporation nor the previous owners of the facility made the required monthly payments on the mortgage obligation to the lender. The lender has filed an action against the corporation for the past due amounts. Is the corporation liable for these amounts?
Yes, the corporation liable for for the past due amounts because the corporation assumed the mortgage.
What are mortgages?When you and a lender enter into a mortgage, the lender is granted the power to seize your property if you are unable to pay back the loan amount plus interest. Mortgage loans are used to buy a property or to borrow money against the value of a home you currently own.
The three types of mortgage are -
Fixed-rate: The main benefit of a fixed-rate loan is that it protects the borrower from unexpected and potentially considerable increases in monthly mortgage payments if interest rates climb.Conventional: A conventional mortgage loan is a "conforming" loan, which basically means that it fits Fannie Mae or Freddie Mac's requirements. Fannie Mae and Freddie Mac are government-sponsored firms that buy and sell mortgages to investors.Standard adjustable rate: An adjustable-rate mortgage is a house loan with an interest rate that fluctuates dependent on market conditions.In the given case the corporation liable for the past due amounts-
The corporation became individually accountable for the mortgage loan instalments by taking the mortgage.In general, the lender-mortgagee has the option of pursuing the original mortgagor or a transferee who has assumed the mortgage obligation.To know more about mortgage, here
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Sally bought 200 shares of stock in a clothing manufacturer 4 years ago. She paid $23.45 per share. She just sold all of her shares for $34.60 per share. What was her percentage gain
The percentage gain earned by Sally from the sales of the shares is 47.55%.
What is the percentage gain?The percentage gain is the excess of the selling price over the cost price of the stock of shares/.
Percentage gain = (selling price - cost price) / cost price
(34.60 - 23.45) / 23.45 = 47.55%
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An investment adviser is marketing an unproven asset allocation program to customers that has not been validated by real-world testing. The adviser believes that the program works well and tells this to potential buyers, but has no data to support this claim. If the adviser sells this program to customers, then the adviser:
If the adviser sells this program to customers, then the adviser has committed an unethical business practice.
The key to this situation is that the asset allocation program is unproven and has not been validated. The sale of such a program is an unethical practice. The adviser's claim that the program works well is bogus - there is no supporting data.
What is unethical business practice?An action that contravenes generally accepted moral and (sometimes legal) norms for business conduct is referred to as an unethical business practice. Even while not, everyone shares the same moral standards, unethical business practices typically involve dishonesty, undue influence, or hurtful behavior against clients, staff members, or other parties.
What constitutes unethical business practices?Don't stop at market ethics.misleading by introducing features that do not exist.Cover up additional service fees.Cover up the free software demo service.unable to make a meaningful comparison.learn more about unethical practices business at https://brainly.com/question/1333062?referrer=searchResults
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a company has total current assets of $250,000 and accounts payable of $100,000. if their bank has imposed a covenant requiring a current ratio of 1.25 or better, what is the maximum level of notes payable allowable
Here the maximum level of notes payable allowable will be $100000.
Long-term obligations known as notes payable represent the sums that a firm owes its financiers, including banks and other financial institutions as well as alternative funding sources like friends and family. They are considered long-term since they are due after a year, albeit often within five years.
Calculation of Notes payable is done as follows:
Current Ratio=[tex]\frac{Current Asset}{Current liabilities}[/tex]
Now let current liabilities be 'z'
Therefore:
1.25=250000/z
Thus z=200000
Current liabilities=$200000
Here Current liabilities=Account Payable + Notes payable +
200000=100000+Notes Payable
Notes Payable=200000-100000
=$100000
Therefore the maximum level of notes payable allowable is $100000.
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Joe is currently in consumer equilibrium by consuming cheese and crackers, such that the last cracker consumed yielded 8 utils and the last piece of cheese consumed yielded 12 utils. Assume the price of crackers is two cents per cracker and the price of cheese is three cents per piece. If the price of crackers increases to four cents, Joe should __________ his consumption of crackers and his marginal utility from crackers will __________ and also __________ his consumption of cheese and his marginal utility from cheese will __________.
Joe should decrease his consumption of crackers and his marginal utility from crackers will increase and also increase his consumption of cheese and his marginal utility from cheese will decrease .
What happens to marginal utility when consumption decreases?According to the Law of Diminishing Marginal Utility, the additional utility derived from increasing consumption declines with each additional increase in consumption level.
What happens to marginal utility when consumption increases?
According to the law of declining marginal utility, when consumption rises, the marginal utility gained from each extra unit decreases, all other things being equal.
Why does marginal utility decrease as more is consumed?
Consumers will only purchase more of a specific good if the price drops since they get less satisfaction from consuming more units of that good. Thus, the law of diminishing marginal value contributes to the understanding of the law of demand.Learn more about marginal utility brainly.com/question/15149015
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Consider purchasing a home with a selling price equal to $500,000. You make a 20% down payment in cash and take out a 25-year, fixed-rate mortgage for the remaining $400,000 at an annual percentage rate of 2%. The remaining loan balance is amortized into yearly payments. How much do you need to pay each year
He needs to pay $96,000 each year.
What is the selling price?The selling price of a good or service is the final cost to the seller, or what the buyer actually pays. A commodity or service in a specific amount, weight, or measurement can be exchanged.It is one of the most crucial things for a business to decide. It is significant since it determines whether or not it will survive. Sales of a product are directly impacted by its price.What is a mortgage?A mortgage is a contract between you and a lender that gives the lender the right to repossess your property if you don't pay back the loaned funds for the purchase or refinance of a home.Solution -To find how much he needs to pay each year:
2% of 400,000 = $8,000 (per month)
Per year = 12 × 8000 = $96,000
Therefore, he needs to pay $96,000 each year.
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