Last year's Easter campaign produced these results: 28% of the target audience was exposed 1 time; 21% of the target audience was exposed 2 times; 15% of the target audience was exposed 3 times; 12% of the target audience was exposed 4 times; and no one was exposed more than 4 times. Calculate total GROSS RATING POINTS for the Blue Bunny Easter campaign.

The given statement "According to Teresa Amabile, providing employees with complete autonomy is the best way to foster creativity." is false because it is not best approach.

Teresa Amabile, a Harvard Business School professor and leading expert on creativity, argues that a sense of autonomy is essential for fostering creativity in employees, but providing complete autonomy is not necessarily the best approach.

According to Amabile, a sense of ownership and control over one's work is important, but it needs to be balanced with an understanding of organizational goals and constraints. In fact, she suggests that some level of structure and guidance can actually enhance creativity by providing a clear framework for problem-solving and innovation.

Amabile also emphasizes the importance of supportive leadership and a positive work environment for creativity to thrive. This includes providing resources, feedback, and recognition for creative efforts, as well as encouraging collaboration and risk-taking.

Overall, fostering creativity is a complex process that requires a balance of autonomy, structure, and supportive leadership.

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A fall in capital inflows into the U.S. and the resulting weaker dollar can have complex and far-reaching effects on the economy, both positive and negative, and can impact a range of economic factors, including trade, inflation, and investment.

When there is a decrease in the amount of money flowing into the country from foreign investors, demand for the dollar falls, and the value of the currency declines. This is because fewer investors are willing to hold dollars and purchase U.S. assets.

A weaker dollar can have both positive and negative effects on the U.S. economy. On the one hand, it can make U.S. goods cheaper and more competitive in the global market, which can increase exports and support economic growth. On the other hand, a weaker dollar can lead to higher inflation as the cost of imported goods increases, which can reduce the purchasing power of consumers and businesses.

Furthermore, a weaker dollar can make it more expensive for U.S. firms to borrow money abroad, as foreign lenders demand a higher interest rate to compensate for the weaker currency. This can increase the cost of capital for U.S. businesses and make it more difficult for them to invest in expansion or innovation.

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The decision to hold money instead of other assets is a complex trade-off that depends on individual preferences, risk tolerance, and economic conditions. Here options A and B are the correct answer.

When an individual decides to hold money instead of other assets, there are various implications to consider. First, holding money can be a sign of money illusion, which refers to the tendency to confuse nominal values with real values. For example, an individual may be willing to hold cash even if its real value decreases due to inflation, as long as the nominal value stays the same. This can lead to suboptimal financial decisions and reduced welfare.

Second, holding money typically means giving up the interest that other assets could have earned. For example, if an individual chooses to keep a large amount of cash in a low-interest savings account, they will miss out on potentially higher returns from investments such as stocks or bonds. This can lead to lower long-term wealth accumulation and reduced financial security.

Finally, holding money may not protect an individual from unanticipated inflation. If the inflation rate exceeds the interest rate earned on other assets, the purchasing power of money will decrease over time. This can erode the value of savings and reduce the standard of living.

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The six key components of a financial plan include planning for retirement, managing cash flow, managing debt, setting financial goals, managing risk, and investing.

A financial plan is a comprehensive strategy that helps individuals and families achieve their financial goals. It includes a variety of components that work together to help individuals manage their money effectively and build a strong financial foundation for the future.

The first key component of a financial plan is planning for retirement. This involves setting aside money in retirement accounts, such as a 401(k) or IRA, and creating a strategy to ensure that an individual has enough money to retire comfortably.

The secod component is managing cash flow, which involves creating a budget and managing income and expenses to ensure that an individual has enough money to meet their financial obligations.

Managing debt is the third component, which involves creating a plan to pay off debt and avoid accumulating additional debt.

The fourth component is setting financial goals, which involves identifying short-term and long-term financial objectives and creating a plan to achieve them.

Managing risk is the fifth component, which involves creating a strategy to protect assets and income from unexpected events, such as illness or disability.

Finally, investing is the sixth component, which involves creating a diversified investment portfolio that aligns with an individual's financial goals and risk tolerance.

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The statement that a monopoly must decrease the price in order to sell more units is true, as monopolies have the ability to control the price due to their lack of competition. This is because consumers have no alternative options, so they must pay the monopoly's set price if they want to purchase the product or service.

However, because the monopoly has control over the price, it is not possible to have Multiple Choice entry in the market. This means that consumers do not have the option to choose between different products or services at varying prices.

A monopoly's demand curve is perfectly elastic, meaning that the quantity demanded changes infinitely with a small change in price. This is due to the lack of substitutes available in the market, causing consumers to have no choice but to pay the monopoly's set price.

The marginal revenue curve of a monopoly is steeper and below its demand curve. This is because as the monopoly decreases the price to sell more units, the revenue gained from each additional unit sold will decrease due to the perfectly elastic demand curve.

At the profit-maximizing level of output, a monopoly's total revenues are greater than its total costs. This is because the monopoly can set a price higher than the cost to produce each unit, resulting in a profit.

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The total revenue from 500 pairs of shoes is $25,000, the area that is a measure of the cost to produce 200 pairs of shoes is $8,000, and the consumer surplus from 500 pairs of shoes is $7,500.

The area that is a measure of the consumer surplus if the market price changes from the equilibrium price to $70.00 cannot be determined without additional information.

(a) To calculate the total revenue from 500 pairs of shoes, we need to find the intersection point of the demand and supply curves. From the graph, we can see that this intersection occurs at a price of $80.00 per pair of shoes. Therefore, the total revenue from 500 pairs of shoes is:

Total revenue = Price x Quantity = $80.00 x 500 = $40,000.00

(b) The area that is a measure of the cost to produce 200 pairs of shoes is the area below the supply curve and to the left of the quantity axis, up to a quantity of 200 pairs of shoes. From the graph, we can estimate that this area is approximately:

Cost = 0.5 x $50.00 x 200 = $5,000.00

(c) To calculate the consumer surplus from 500 pairs of shoes, we need to find the difference between the maximum amount that consumers are willing to pay and the actual price paid. From the graph, we can estimate that the maximum amount consumers are willing to pay is $100.00 per pair of shoes. Therefore, the consumer surplus is:

Consumer surplus = Maximum amount willing to pay - Actual price paid

= $100.00 - $80.00

= $20.00 per pair of shoes

Total consumer surplus = Consumer surplus per unit x Quantity

= $20.00 x 500

= $10,000.00

(d) The area that is a measure of the consumer surplus if the market price changes from the equilibrium price to $70.00 is the triangle formed by the demand curve, the new price of $70.00, and the quantity axis. From the graph, we can estimate that the height of this triangle is $30.00 and the base is 500 units. Therefore, the area of the triangle and the consumer surplus at the new price is:

Consumer surplus = 0.5 x Base x Height

= 0.5 x 500 x $30.00

= $7,500.00

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The "first-step" of driver and flow "organizational-Culture" is (b) Drivers of culture.

The "Drivers" of "organizational-culture" are the factors that shape and influence an organization's culture. These drivers can be internal or external to the organization, and may include factors such as leadership style, organizational structure, communication patterns, and industry norms and values.

The "drivers-of-culture" are the first step in the process of shaping and influencing organizational culture. Once these drivers are identified and understood, organizations can take steps to align them with their desired culture and values.

Therefore, the correct option is (b).

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Part 1: Three hamburgers are estimated to cost $7.50 in variable costs on average. The total variable cost for producing 3 hamburgers is therefore $22.50 (7.50 x 3).

Part 2:  The fourth hamburger's marginal cost is $3. As a result, the total variable cost of producing 4 hamburgers is $25 (22.50 plus 3).

Part 3: Cooking 4 hamburgers will have a greater average variable cost than cooking 3 hamburgers, on average.

Part 1: The small fast-food restaurant has costs equal to c(y) = 28 + 5y, where y stands for the number of hamburgers made in a day. The average variable cost of making 3 hamburgers is given as $7.50. This means that the total variable cost of making 3 hamburgers is $22.50 (7.50 x 3).

Part 2: The marginal cost of the last hamburger made is the change in the total variable cost when one more hamburger is made. In this case, if the restaurant is making 3 hamburgers, the marginal cost of the fourth hamburger is $3. This means that the total variable cost of making 4 hamburgers is $25 (22.50 + 3).

Part 3: Without performing any additional calculations, we know that if the restaurant produces one more hamburger, the average variable cost will increase. This is because the total variable cost will increase by the marginal cost of the last hamburger, which is $3. As a result, the average variable cost of making 4 hamburgers will be higher than the average variable cost of making 3 hamburgers.

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To prepare themselves for loan approval, buyers who are close to being financially ready should pay down credit card balances.

This will help improve their credit score and debt-to-income ratio, making them more attractive to lenders.

Improves Credit Score: Credit card balances, also known as credit utilization, play a crucial role in determining credit scores. High credit card balances can negatively impact credit scores, as it suggests a higher risk of being unable to manage credit responsibly.

By paying down credit card balances, buyers can lower their credit utilization, which can result in an improved credit score. A higher credit score is generally seen as more attractive to lenders, as it signals a borrower's creditworthiness and responsible credit management.

Lowers Debt-to-Income Ratio (DTI): Another important factor that lenders consider when evaluating loan applications is the debt-to-income ratio (DTI). DTI is the percentage of a borrower's monthly gross income that goes towards debt payments.

Lower DTI ratios are preferred by lenders, as they indicate that a borrower has a lower level of debt relative to their income, which reduces the risk of default.

By paying down credit card balances, buyers can reduce their overall debt, which in turn lowers their DTI ratio, making them more appealing to lenders.

Increases Loan Eligibility: Lower credit card balances and improved credit scores can increase a buyer's loan eligibility. Lenders typically use credit scores and DTI ratios as key criteria to determine whether a borrower qualifies for a loan and at what interest rate.

By improving these factors through paying down credit card balances, buyers may be able to qualify for loans they might have otherwise been denied or obtain loans at more favorable terms, such as lower interest rates. This can potentially save them money over the life of the loan.

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The three phases an employee goes through when taking a new position answer is "Socialization, innovation, and stabilization". The correct option is B.

The socialization is the term which refers to the employee learns about the company culture, values, and as well as their role within the organization. This involves meeting colleagues, understanding the company's structure, and learning the expectations of the job.

Innovation refers to the employee begins to contribute their ideas and skills to the company. The employee suggest and contribute new ways of doing things.

The stabilization refers to the phases an employee goes through when taking a new position to make balance between the role or work life-balance.

Therefore, the correct option is B.

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Marry At the opening of the movie, the woman in white being pressured is Dr. Bates.

Lemuel Gulliver, a surgeon and sea captain who travels to distant parts of the world, tells the story of four adventures in Gulliver's Travels, a first-person narrative. The major antagonist of the 2010 fantasy adventure comedy film Gulliver's Travels, which is based on the 18th-century novel of the same name by Jonathan Swift, is General Edward Edwardian (also known as General Edward or Edward). The Brobdingnagians are enormous; on average, they stand 60 feet tall, and their lands and creatures are as enormous. Due to Gulliver's extreme vulnerability in this society, it becomes reasonable that the satire progressively focuses on the brittleness (and grotesqueness) of the human body.

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True. It is legal for a lender to charge a prepayment penalty, although not all lenders do so. A prepayment penalty is a fee charged by a lender if a borrower pays off their loan early or makes extra payments beyond the agreed-upon amount. The purpose of a prepayment penalty is to compensate the lender for the loss of interest they would have earned if the borrower had continued to make payments according to the original schedule.

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Autonomous spending must rise by a sum equal to the output gap, or by 76e + 13580, in order to close the production gap.

Autonomous expenditure is equal to C + I + G + NX, which is 6e + 0.75(Y-T) + 200 + 240 + 60, 6e + 0.75(Y-100) + 500, 6e + 0.75Y - 75 + 500, and 6e + 0.75Y + 425.

Output of the short-run equilibrium: Y = (1/(1-MPC)) Multiplier = 1/(1-MPC) = 1/(1-0.75) = 4 (Autonomous spending) * (equation) = 4 * (6e + 0.75Y + 425)

When we solve for Y, we get:

0.25Y = 4 * 6e + 1700

Y = 16e + 6800

Actual and potential output together make up the output gap.

Potential output is equal to the output at full employment, or Y(f) = 16e + 6800.

Y = 4 * (6e + 0.75Y + 425) yields the actual output.

Potential output is equal to the output at full employment, or Y(f) = 16e + 6800.

Y = 4 * (6e + 0.75Y + 425) yields the actual output.

When we change the value of Y(f) in the previous equation, we obtain:

Y = 4 * (6e + 0.75(16e + 6800) + 425)

Y = 4 * (12e + 0.75 * 16e + 5095)

Y = 4 * (23e + 5095)

Y = 92e + 20380

Output gap is calculated as Y - Y(f) = (92e + 20380) - (16e + 6800) = 76e + 13580.

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In an infinitely repeated Prisoner's Dilemma with the grim trigger strategy, a Nash equilibrium occurs when each player uses the grim trigger strategy and the discount factor d meets a specific condition.

The grim trigger strategy implies that a player will cooperate until the opponent defects, after which the player will defect indefinitely.

The condition for the discount factor d in this scenario is:

d ≥ (y - x) / (1 - x)

Here, x and y are the payoffs in the general Prisoner's Dilemma, satisfying x < y and x, y < 1. The discount factor d represents the weight players place on future payoffs compared to present payoffs.

If this condition is met, both players using the grim trigger strategy will form a Nash equilibrium in the infinitely repeated Prisoner's Dilemma.

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Society and technology have transformed significantly since the framers' time, resulting in increased interconnectedness, new challenges, and shifting societal values. These factors have ultimately led to a greater need for national government control over the states.

The framers originally envisioned a smaller role for the national government, with more power allocated to the states. However, societal and technological changes have contributed to the expansion of national government control over the states.

Firstly, increased interconnectedness due to advancements in transportation and communication has led to greater interdependence among states. This interdependence requires a more centralized authority to effectively manage interstate commerce, transportation networks, and communication systems.

Secondly, technological advancements have also resulted in the emergence of new challenges and threats, such as cybersecurity and data privacy, that require coordinated efforts at the national level. These issues transcend state boundaries and necessitate a stronger national government to address them.

Lastly, social and cultural shifts have prompted a need for consistent and uniform legislation across states. As societal values evolve, issues like civil rights, environmental protection, and healthcare reform have gained prominence, necessitating national-level policies to ensure a cohesive and fair approach.

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People who do not have checking accounts often use cashier's checks as an alternative to personal checks. The Correct option is A

A cashier's check is a payment instrument that is guaranteed by a bank, which means that the bank is responsible for making the payment. This makes cashier's checks a secure form of payment, especially for larger transactions. People without checking accounts may also use preauthorized deposits to receive recurring payments, such as paychecks or government benefits, directly into a savings account.

However, they may not have access to other services associated with checking accounts, such as overdraft protection, certified checks, or demand deposits.

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A competitive advantage for an airline could be offering flights to/from smaller airports that are not serviced by other big airline companies. This allows the airline to target a niche market and potentially offer more convenient travel options for customers, setting it apart from its competitors.

Offering flights to/from smaller airports that are not serviced by other big airline companies could be a competitive advantage for an airline. This would allow the airline to tap into a market that is not being serviced by other airlines, giving them a unique selling point and potentially attracting more customers. Servicing the same markets as other airlines or offering price matching on identical flights would not provide much of a competitive advantage as it would not differentiate the airline from its competitors.

Painting their airplanes in neon colors may be a fun marketing strategy, but it is unlikely to provide a significant competitive advantage in the airline industry.

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The presence of the contamination Fusarium in food can result in several unpleasant consequences, depending on the type of food and the strain of the fungus.

Fusarium is a type of mold that can produce mycotoxins, which are toxic compounds that can cause health problems if ingested in large amounts. Some strains of Fusarium can produce mycotoxins that are harmful to humans and animals, including fumonisins, trichothecenes, and zearalenone.

Fumonisins, for example, can cause cancer and other health problems in humans and animals, while trichothecenes can cause vomiting, diarrhea, and other digestive problems. Zearalenone can cause reproductive problems in animals and has estrogenic effects, which can lead to infertility, miscarriage, and other health problems.

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The 5th-step of drivers and flow of "organizational-culture" is (d) Work attitudes and behaviors.

The "Organizational-Culture", is defined as the shared values, beliefs, and norms that shape the behavior of individuals within an organization, can influence work attitudes and behaviors of employees.

The "Work-attitudes" refer to the employees' feelings, opinions, and perceptions about their work and the organization, while work behaviors refer to the actions and performance of employees in their work roles.

Work attitudes and behaviors are influenced by various factors, including the organizational culture, which sets the tone for how employees perceive their work environment and how they interact with others.

The organizational culture can shape employees' attitudes towards their work, their colleagues, their leaders, and the overall organizational goals.

Therefore, the correct option is (d).

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The given question is incomplete , the complete question is

5th step of drivers and flow of organizational culture

(a) Organizational culture

(b) Organizational structure and internal processes

(c) Group and social processes

(d) Work attitudes and behaviors

The economic growth rate for Switzerland in 2021 is approximately 75%, which is closest to option d) 70%.

To calculate the economic growth rate for Switzerland in 2021, we need to first adjust the nominal GDP figures for changes in population and price levels. We can use the real GDP formula to do this:

Real GDP = Nominal GDP / (Price Level / 100)

Using this formula, we can calculate the real GDP for Switzerland in 2014 and 2021 as follows:

Real GDP 2014 = $20 billion / (100 + 20) / 100 = $16.67 billion

Real GDP 2021 = $35 billion / (100 + 20) / 100 = $29.17 billion

Next, we can calculate the economic growth rate using the following formula:

Economic Growth Rate = (Real GDP 2021 - Real GDP 2014) / Real GDP 2014 * 100

Plugging in the numbers, we get:

Economic Growth Rate = ($29.17 billion - $16.67 billion) / $16.67 billion * 100

Economic Growth Rate = $12.5 billion / $16.67 billion * 100

Economic Growth Rate = 74.99%

Rounding up, the economic growth rate for Switzerland in 2021 is approximately 75%, which is closest to option d) 70%. This suggests that the Swiss economy has grown significantly over the period, despite increases in population and price levels.

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In all three scenarios, Russell's total revenue is greater than his total costs, so it would be advisable for him to keep operating his lawn-mowing business.

It is required to consider Russell's lawn-mowing business, and whether he should continue operating based on his expected revenue. Let's analyze each scenario using fixed costs, labor costs, and total revenue.

Scenario 1: If Russell expects to earn $6,000 in total revenue over the next four months, should he keep operating:

Since his total revenue ($6,000) is greater than his total costs ($5,500), he should keep operating, as he will make a profit of $500.

Scenario 2: If he expects to earn $7,000 over the next four months, should he keep operating:

In this case, his total revenue ($7,000) is greater than his total costs ($5,500), so he should keep operating, as he will make a profit of $1,500.

Scenario 3: If he expects to earn $8,000 over the next four months, should he keep operating:

Here, his total revenue ($8,000) is greater than his total costs ($5,500), so he should keep operating, as he will make a profit of $2,500.

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The product strategy for a fried chicken company involves developing a unique and appealing product line, focusing on quality ingredients, efficient production processes, and catering to customer preferences. Key components of this strategy include product differentiation, quality assurance, pricing, and innovation.

Product differentiation is essential to stand out in the competitive fried chicken market. This could involve creating unique flavors or textures, offering healthy options, or providing signature dipping sauces. Quality assurance ensures that the company maintains high standards in sourcing and preparing ingredients. This may involve using farm-fresh chicken, high-quality oils, and preservative-free spices. Pricing plays a significant role in the product strategy, as it affects the target market and brand positioning. A fried chicken company may choose to offer affordable meals for wider appeal or adopt a premium pricing strategy for a more upscale clientele. Innovation is crucial for staying relevant in the industry. This could involve developing new menu items, creating limited-time offers, or incorporating sustainable packaging solutions to cater to environmentally-conscious customers.

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Macro-marketing refers to the study of the entire marketing system, including all the organizations, activities, and people involved in the process of creating and delivering goods and services to consumers. The Correct option is D

Among the challenging scenarios that macro-marketing examines are producers manufacturing goods in large quantities while consumers buy in small quantities, consumers requiring a wide assortment of products while individual producers can only offer a narrow assortment, and producers setting prices to cover costs and make a profit while consumers choose goods based on their ability to pay.

However, the scenario of Cedar Point Amusement Park's marketing strategy being limited to discount season pass offers during winter months while the park is closed does not fall under the category of challenging scenarios that macro-marketing examines. This scenario relates more to the specific marketing strategy of an individual organization rather than a broader systemic challenge.

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Bob has implicit costs of $19,072 for which Bob did not make a direct money payment. Bob's implicit costs include the opportunity cost of not earning the $40,000 he made in real estate the previous year, as well as the opportunity cost of not investing his savings in the bank at 3 per cent interest.

The opportunity costs for which Bob did not make a direct money payment include:
1. The difference in earnings between the real estate and greeting card industries: Bob earned $40,000 in real estate, but now earns $22,000 in the greeting card industry. The opportunity cost is $40,000 - $22,000 = $18,000.

2. The foregone interest on the money used to purchase the cash register: Bob spent $2,400 from his savings account to buy the cash register, and the bank pays 3% interest on savings accounts. The foregone interest is $2,400 x 0.03 = $72.

3. The decline in the cash register's value: Bob was offered $1,400 for the cash register at the end of the year, meaning it lost value. The opportunity cost is the initial value ($2,400) minus the end-of-year value ($1,400) = $1,000.

In summary, Bob has implicit costs of $18,000 + $72 + $1,000 = $19,072. Additionally, there may be other opportunity costs associated with his decision to switch industries, such as potential networking opportunities or future growth potential in real estate compared to the greeting card industry.

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It typically involves comparing budgeted amounts with actual amounts spent or earned, and analyzing the differences or variances between the two.

In Luca's case, he has used spreadsheet software to create a budget with planned spending for each month. At the end of the month, the software automatically compares the budgeted amounts with the actual amounts spent, allowing Luca to see the variance between the planned and actual spending. Luca can also graph these results for visual representation and analysis. A flexible budget is useful for individuals or businesses that experience fluctuations in income or expenses, as it allows for adjustments to be made based on actual financial performance. It provides flexibility to adapt to changing circumstances and helps in making informed financial decisions.

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By multiplying the total debt ($20 billion) by the average interest rate (3%), one can get the annual interest payments on the debt. This is equivalent to $600 million or $0.6 billion. 1.5% percentage of this economy’s GDP is spent on interest payments on its debt.

In an economy with a GDP of $40 billion and a national debt of $20 billion, the annual interest payments on the debt can be calculated by multiplying the debt ($20 billion) by the average interest rate (3%). This equals $0.6 billion or $600 million.

To find the percentage of the economy's GDP spent on interest payments, divide the annual interest payments ($600 million) by the GDP ($40 billion) and multiply by 100. This results in 1.5% (rounded to the nearest tenth of a percent) of the economy's GDP spent on interest payments on its debt.

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The culture at Olivia's investment firm, which prioritizes productivity and profits over employee development and satisfaction, is most likely a "market" culture.option (c)

In a market culture, the focus is on achieving measurable results, such as profits and market share, and on outperforming competitors. The culture tends to be highly competitive and fast-paced, with a strong emphasis on individual performance and accountability.

Employee development and satisfaction are often seen as secondary to achieving the organization's objectives. Market cultures can be highly effective in achieving short-term goals, but they may also lead to burnout and high turnover rates if employees feel undervalued and unsupported.

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The CPI in 1983 is 100 and the CPI this year is 172. These values for the CPI mean that D) typically, a good whose price was $100 in 1983 had a price of $172 this year.

What is consumer price index (CPI)?

The Consumer Price Index (CPI) is a measure of the average change over time in the prices of goods and services typically purchased by households in an economy. It is often used as an indicator of inflation or deflation.

In the given scenario, the CPI in 1983 is 100, and the CPI this year (current year) is 172. This means that the prices of goods and services have increased by 72% since 1983.

To answer the question, we need to calculate the price of a good that cost $100 in 1983, using the CPI values. We can do this using the following formula:

Price in current year = (CPI in current year / CPI in base year) x Price in base year

Substituting the given values, we get:

Price in current year = (172 / 100) x 100

Price in current year = 1.72 x 100

Price in current year = 172

Therefore, a good that cost $100 in 1983 would typically have a price of $172 in the current year (option D). This indicates that there has been inflation over the years, as the same goods and services now cost more than they did in 1983.

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The strong U.S. dollar during 2015 had a negative impact on Apple's earnings because it made their products more expensive in foreign markets. As the dollar strengthened, it became more difficult for foreign customers to afford Apple's products, resulting in a decrease in demand and sales.

In terms of why Apple did not fully hedge its foreign exchange exposure, there are a few potential reasons. One reason could be that hedging can be expensive, and Apple may have determined that the cost outweighed the potential benefits. Additionally, hedging can be a complex process that requires significant resources and expertise, and Apple may have decided that they did not have the capacity to effectively hedge their foreign exchange exposure. Finally, it's possible that Apple may have underestimated the potential impact of currency fluctuations on their earnings, and therefore did not take sufficient steps to hedge their exposure.

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