France has a comparative advantage when it comes to wine production. When it comes to producing rye, Austria has a competitive edge.
What exactly does trade in business mean?Any action conducted to generate income from the sale of goods or the provision of services falls under the definition of commerce or business. It is not restricted to integrated averages of resources, operations, and goodwill that constitute businesses for the purposes of other Internal Revenue Code sections.
What is the primary reason for trade?Trade is crucial for maintaining a competitive and globalized economy because it promotes innovation and supports the specialization of markets while also driving down international pricing for goods. Exposure to services and goods that might be cheaper and of greater quality than their domestic alternatives is another benefit of being able to trade.
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one of the biggest financial benefits of starting early to save for your retirement fund is related to:increased cost of living.compound interest.lower tax deductionsinflation.reduced expenses.
One of the biggest financial benefits of starting early to save for your retirement fund is related to Compound interest.
Compound interest can be defined as "interest on the principal of a loan or deposit". Simply put, compound interest is interest added to the principal so that interest is earned during the next compounding period.
Compound interest is adding interest to the principal of a loan or deposit, i.e. principal plus interest.
The more money you invest and the earlier you start investing in your retirement savings, the more likely your retirement savings will grow and double.
This type of funding is related to compound interest.
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Which is NOT a primary function of Excel?
OA. Word processor
O C. Simple database
OB. Charting tool
OD. Spreadsheet
Answer:
word processor
Explanation:
Word processors are primarily about producing (formatted) documents generally inteded to be read such as books, articles, papers, etc.
Excel, and spreadsheets in general, are about displaying and calculating numeric results or other data organized as rows and columns (spreadsheets).
So, no, word processing is not a primary or even secondary function of Excel.
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In the presence of heteroskedasticity, and assuming that the usual least squares assumptions hold, the OLS estimator is a. efficient b. BLUE c. unbiased but not consistent d. unbiased and consistent
In the presence of heteroskedasticity, and assuming that the usual least squares assumptions hold, the OLS estimator is unbiased and consistent. Option (d) is correct.
What do you mean by Consistent?Consistent behavior refers to doing something consistently throughout time, particularly in order to be truthful or accurate.
If every random variable in a series (or vector) has the same finite variance, the sequence or vector is said to be homoscedastic in statistics. Another name for this is homogeneity of variance. Heteroscedasticity is the equivalent concept. Additionally frequently used spellings include homoskedasticity and heteroskedasticity.
When a variable is heteroscedastic when it is actually homoscedastic, the erroneous assumption that it is homoscedastic leads to unbiased but ineffective point estimates, biased estimates of standard errors, and may overestimate the goodness of fit as determined by the Pearson coefficient.
Therefore, Option (d) is correct. In the presence of heteroskedasticity, and assuming that the usual least squares assumptions hold, the OLS estimator is unbiased and consistent.
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TRUE/FALSE. when a competitive firm maximizes profit, it will hire workers up to the point where the question 12 options: marginal product of labor is equal to the product price. marginal product of labor is equal to the wage. value of the marginal product of labor is equal to the product price. value of the marginal product of labor is equal to the wage.
This option is true, the fee of the marginal product of labor is equal to the wage.
A competitive, profit-maximizing association hires employees up to the point where the price of the marginal product of labor is equal to the wage.
What is marginal product with example?A right example of the marginal product of labor is a kitchen in a restaurant. With no cooks, the restaurant's production will be zero When one cook is hired, the restaurant's manufacturing can also extend to 10 meals, yielding a fine MPL of 10.
What is marginal profit formula?Marginal profit (MP) = Marginal income (MR) - marginal value (MCMC) In current microeconomics, companies in competition with every other will tend to produce units till marginal fee equals marginal income (MCMC=MR), leaving successfully zero marginal profit for the producer.
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The trend towards worldwide markets makes it easier to predict where competitors will
spring up.
The move toward global marketplaces makes it easier to foresee where rivals may emerge. With the advent of globalization, and hence the rise of market capitalism across the world, rivals may now come from almost anywhere.
What is the primary goal of globalization?Globalization, sometimes known as globalization, is the process of contact and integration among people, businesses, and governments all over the world. The term globalization initially arose in the early twentieth century, evolved into its modern meaning somewhere in the second half of the twentieth century, and became popular in the 1990s to characterize the post-Cold War world's unparalleled worldwide connection. Its beginnings may be traced back to the 18th and 19th centuries when transportation and communication technologies advanced.
Globalization changes the interactions between governments, companies, and individuals. It explicitly modifies the nature of economic activity between nations by boosting commerce, developing global supply chains, and facilitating access to natural resources and labor markets.
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Consider a 8.4 percent coupon bond with eleven years to maturity and a current price of $1,041.40. Suppose the yield on the bond suddenly increases by 2 percent.
a. Use duration to estimate the new price of the bond. (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.) Price $
b. Calculate the new bond price. (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.) Price $
a. The new price of the Bond will be: $883.32
b. The new price of the Bond is B0: $882.21
How do coupon bonds function?A coupon bond is a form of bond that has attached coupons and pays periodic (usually annual or semi-annual) interest payments as well as its par value upon maturity. These bonds have a coupon rate, which is the bond's yield at the time of issuance.
a. Yr F.I PVF 8.4% PV of Inflow Yr × PV of inflow
1 84 0.9225 77.491 77.49
2 84 0.8510 71.486 142.97
3 84 0.7851 65.946 197.84
4 84 0.7242 60.836 243.34
5 84 0.6681 56.122 280.61
6 84 0.6163 51.773 310.64
7 84 0.5686 47.761 334.33
8 84 0.5245 44.060 352.48
9 84 0.4839 40.646 365.81
10 84 0.4464 37.496 374.96
11 1084 0.4118 446.391 4910.30
Total 1000.00 7590.78
Bond Duration: 7590.78/1000 7.591
Change in Price = -1*Bond Duration*Change in YTM
Change in Price = -1*7.591*2%
Change in Price = -15.18%
Bond Price = 1041.40
Change in Bond Price = 1041.40 + (1041.40*-15.18%)
Bond Price = $883.32
b. Bond Price B0= (Annual Interest*(PVIFA 11%, 10 years)+(Maturity Value*(PVIF 11%,10 years)
Face Value= 1000
Interest Rate= 8.4%
Annual Interest= 84
YTM 8.4+2= 10.4%
Years to maturity= 11
Bond Price B0= (Annual Interest*(PVIFA 10.4%, 11years) + (Maturity Value*(PVIF 10.4%,11 years)
Bond Price B0= (84*(PVIFA 10.4%, 11years) + (1000*(PVIF 10.4%,11 years)
Bond Price B0= (90* 5.8892) + (1000*0.3522)
Bond Price B0= 530.028+352.1845
Bond Price B0= 882.21
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the project will require an initial investment of $300,000 in net working capital. from year 1 onwards, the project requires net working capital level to equal to 10 percent of that year's projected sales. (note: since there is an initial investment in working capital, you only need to determine the net change from year to year. assume that you can recover your working capital investment at the end of the project.
The net working capital required for the project will be $600,000.
What is a working capital?Working capital (WC) is a financial metric that measures the operating liquidity that a company, organization, or other body, including a government institution, has available. Working capital is included in operational capital together with fixed assets like plant and equipment. Current liabilities less Current Assets equals Working Capital. Even if a business may be profitable and endowed with assets, it may lack liquidity if its assets cannot be quickly transformed into cash. To ensure that a company can continue operating and has enough money to pay both maturing short-term debt and impending operational expenses, it has to have positive working capital. Inventory, accounts receivable and payable, and the cash management are all a part of working capital management.
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Several artists in Norfolk, Virginia, have created an arrangement to sell their paintings. They have set up an art gallery in downtown Norfolk so tourists and art lovers can look at their paintings and buy the ones they like. Each artist takes a turn acting as the sales clerk at the gallery. In terms of the marketing channel, the artist who is on duty in the gallery is acting as a(n) _________.
Several artists in Norfolk, Virginia, have created an arrangement to sell their paintings. They have set up an art gallery in downtown Norfolk so tourists and art lovers can look at their paintings and buy the ones they like. Each artist takes a turn acting as the sales clerk at the gallery. In terms of the marketing channel, the artist who is on duty in the gallery is acting as a(n) retailer.
Expressionism, way during which the creative person seeks to depict not objective reality however rather the subjective emotions and responses that objects and events arouse inside an individual.
The purpose of a channel intercessor is to maneuver product to shoppers, whether or not business or client. Some intermediaries take title, or possession, of the merchandise from the producer. This suggests that they will set the value and management the ultimate technique of sale as a retailer. this might be an example of a merchant.
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On the statement of activities for a private, not-for-profit literary society, expenses decrease which of the following classes of net assets?
I. temporarily restricted net assets
II. unrestricted net assets
A. I only
B. II only
C. Either I or II
D. Neither I nor II
Unrestricted net assets are reduced by expenses on the statement of activities for a private literary society that is not for profit.
What Kind of Net Assets Are Unrestricted?
Donations to unrestricted nonprofit organizations constitute unrestricted net assets. That is, the organization can use the assets for any legitimate expense or general expenses.
What are the three kinds of restrictions on net assets?
Thus, unrestricted, temporarily restricted, and permanently restricted are the three categories of net assets.
What kinds of unrestricted net assets are there?
Therefore, the term "unrestricted net assets" refers to any kind of asset donated to a nonprofit organization by donors—whether it be cash or an asset—that can be used for any purpose at any time.
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Suppose that two firms, Lucky Bird and Full Coop, are the only sellers of seitan buffalo wings in some hypothetical market. The following payoff matrix gives the profit (in millions of dollars) earned by each company depending on whether or not it chooses to advertise: For example, the lower left cell of the matrix shows that if Full Coop advertises and Lucky Bird does not advertise, Full Coop will make a profit of 18 million, and Lucky Bird will make a profit of
$2
million. Assume this is a simultaneous game and that Lucky Bird and Full Coop are both maximizing firms. If Lucky Bird chooses to advertise, it will earn a profit of million if Full Coop advertises and a prof advertise. If Lucky Bird chooses not to advertise, it will earn a profit of million if Full Coop advertises and a prof not advertise. If Full Coop advertises, Lucky Bird makes a higher profit if it chooses If Full Coop doesn't advertise, Lucky Bird makes a higher profit if it chooses Suppose that both firms start off by deciding not to advertise. If the firms act independently, what strategies will they end up choosing? Both firms will choose to advertise. Lucky Bird will choose not to advertise and Full Coop will choose to advertise. Both firms will choose not to advertise. Lucky Bird will choose to advertise and Full Coop will choose not to advertise. Again, suppose that both firms start off not advertising. If the firms decide to collude, what strategies will they end up choosing? Lucky Bird will choose to advertise and Full Coop will choose not to advertise. Both firms will choose not to advertise. Both firms will choose to advertise. Lucky Bird will choose not to advertise and Full Coop will choose to advertise.
Suppose that both firms start off by deciding not to advertise. If the firms act independently, Both firms will choose to advertise.
Again, suppose that both firms start off not advertising. If the firms decide to collude Both firms will choose not to advertise
What is game theory?A classic theory that has applications in almost every field is game theory. The development of competing alternative strategies is a key aspect of game theory, and in this regard, it serves as a crucial tool in the decision-making process when the pertinent content changes.
Let's say neither company decides to advertise at first. Independently, both businesses will decide to advertise. Once more that neither company advertises at first. If the businesses decide to cooperate Both businesses will decide against advertising.
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an increase in the expected inflation rate will cause which of the following? responses a rightward shift in the aggregate demand curve a rightward shift in the aggregate demand curve a rightward shift in the short-run phillips curve a rightward shift in the short-run phillips curve a rightward shift in the short-run aggregate supply curve a rightward shift in the short-run aggregate supply curve a leftward shift in the long-run phillips curve a leftward shift in the long-run phillips curve a leftward shift in the long-run aggregate supply curve
Initial output will be higher than potential GDP, but the economy will eventually recover to potential GDP with higher price levels.
How does the predicted inflation rate increase affect the long-term Phillips curve?But over time, as the economy's actual unemployment rate reaches the natural rate of unemployment, the Phillips Curve turns vertical. Therefore, an increase in the level of predicted inflation rate over the long term will only result in an increase in inflation but not an increase in unemployment.
What impact do inflation expectations have on overall supply?changes to inflation expectations. if manufacturers believe future sales of their products will be substantially more expensive.
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japan and the united states are trading partners with flexible exchange rates. the currency of the united states is the dollar, and the currency of japan is the yen. which of the following changes in the united states will most likely increase aggregate demand in japan?
Changes in exchange rate of dollars in the United States will most likely increase aggregate demand in Japan.
What is aggregate demand and an illustration?On the other hand, aggregate demand calculates the total market value of every good and service an economy generates and expresses it as a sum in dollars. A nation might, for instance, have a $1 billion annual aggregate demand for products and services.
Why is it significant?In any economy, aggregate demand is a way to examine all of the demand for products and services. It is a macroeconomics instrument that can be used to estimate or forecast a country's total economic strength for a specific time period, usually a year.
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3. terms of trade suppose that spain and denmark both produce beer and olives. spain's opportunity cost of producing a crate of olives is 4 barrels of beer while denmark's opportunity cost of producing a crate of olives is 10 barrels of beer. by comparing the opportunity cost of producing olives in the two countries, you can tell that has a comparative advantage in the production of olives and has a comparative advantage in the production of beer. suppose that spain and denmark consider trading olives and beer with each other. spain can gain from specialization and trade as long as it receives more than of beer for each crate of olives it exports to denmark. similarly, denmark can gain from trade as long as it receives more than of olives for each barrel of beer it exports to spain. based on your answer to the last question, which of the following terms of trade (that is, price of olives in terms of beer) would allow both denmark and spain to gain from trade? check all that apply. 2 barrels of beer per crate of olives 16 barrels of beer per crate of olives 7 barrels of beer per crate of olives 9 barrels of beer per crate of olives
Denmark, Spain, and If Spain gets more than four beers for an olive crate Denmark will trade if they must surrender less than 1/9 of their beer supply in exchange for an olive trade.
How would you define production?Production refers to the process of mixing multiple inputs, both immaterial (such as concepts or information) and real (such as metal, lumber, glass, or polymers). In a perfect world, this output would be a product or service that is useful to others and has value.
Briefing:(a). Spain does indeed have a comparable advantage in the cultivation of olives, and Denmark does indeed have a comparative advantages in the manufacture of beer, according to the opportunities cost.
(b) Denmark will sell if it has to give that up or less 1/9 of a beer for the a crate of walnuts if Spain obtains more than 4 beers for a cargo of olives.
(c) The "A," "C," and trade term must be among 4 and 9 in length.
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Nick is working on a deal to sell 1,000 calculators in Sweden. He learns that the country has just performed a major upgrade of its healthcare system
technology, which was financed by a loan from the European Union. Nick is now worried about his deal. What do you think is the cause of his concern?
Nick is working on a deal to sell 1,000 calculators in Sweden. Nick is now worried about his deal, the main concern of nick is whether his product will be sold at a profit at the market price.
What is the market Price?
The market price refers to the price at that a particular good or service is currently being bought or sold. The dynamics of both supply and demand influence the market cost of a product or service. The market price is the cost at which the quantity supplied and the amount demanded are equal.
Find the point where supply and demand are equal to calculate the market price. Find the market price by investigating factors such as market trends, the number of suppliers, as well as the number of current customers. Because market prices don't follow standard business formulas, calculating them might be difficult.
Market price refers to the price that is in effect on a specific day or at a specific moment. It is the outcome of supply and demand in the market.
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Seth Fitch owns a small retail ice cream parlor. He is considering expanding the business and has identified two attractive alternatives. One involves purchasing a machine that would enable Mr. Fitch to offer frozen yogurt to customers. The machine would cost $16,200 and has an expected useful life of three years with no salvage value. Additional annual cash revenues and cash operating expenses associated with selling yogurt are expected to be $12,400 and $1,800, respectively.
Alternatively, Mr. Fitch could purchase for $20,160 the equipment necessary to serve cappuccino. That equipment has an expected useful life of four years and no salvage value. Additional annual cash revenues and cash operating expenses associated with selling cappuccino are expected to be $17,000 and $4,860, respectively.
Income before taxes earned by the ice cream parlor is taxed at an effective rate of 20 percent.
Required
Determine the payback period and unadjusted rate of return (use average investment) for each alternative. (Round your answers to 2 decimal places.)
Alternative 1 Alternative 2
Payback period years years
Unadjusted rate of return % %
The payback period for alternative 1 is 1.69 years and alternative 2 is 1.88 years. The unadjusted rate of return is 51.36 for alternative 1 and 56.35 for alternative 2.
Give a brief account on payback period.The payback period is the amount of time required to recover an investment's cost. It is simply the amount of time it takes for an investment to make a profit. Because people and businesses invest money largely in order to be compensated, the payback period is important. The faster an investment pays out, the more tempting it becomes in theory. Calculating the payback period by dividing the original investment by the typical cash flows is useful for everyone. Investors, financial experts, and businesses frequently compute investment returns using the payback time. It aids in estimating the length of time needed to recoup an investment's initial costs.
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The solution is attached below.
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Which of the following terms is used to refer to a focal firm's partial ownership of an existing firm?
A) turnkey operation
B) greenfield investment
C) direct investment
D) equity participation
The correct answer is equity participation. Equity participation refers to the possession of shares in a very company or property. Equity participation might involve the acquisition of shares through choices or by permitting partial possession in exchange for finance.
The larger the equity participation rate, the upper the share of shares owned by stakeholders. The term “equity participation” refers to fairness and justice and is distinguished from equality: Whereas equality means that providing a similar to any or all, equity means that recognizing that we tend to don't all begin from a similar place and should acknowledge and build changes to imbalances.
In finance, "participation" is possession interest during a mortgage or alternative loan. Especially, participation loan may be a cooperation of multiple lenders to issue a loan (known as participation loan) to 1 receiver. This can be sometimes wiped out order to scale back individual risks of the lenders.
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the marketing concept states that you almost never need to consider the needs and wants of the customers when developing a marketing mix.
The marketing concept is based on the idea that a company should focus on the needs and wants of customers when creating the marketing mix. This means that businesses should put customers first to create value for them and ensure that the company is profitable.
Customer requirements should be considered when designing products, services and prices. Companies should also consider customer feedback and preferences when determining how to market and promote their offerings. The marketing concept is therefore incorrect in its claim that a company should never consider the needs and wishes of its customers when creating a marketing mix.
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Your final behavioral interview question involves using metrics to answer business questions. Your interviewer hands you a copy of PatelEventsData.
Then, she asks:
Recently, Patel Events Plus purchased a new venue for our events. If we asked you to calculate the return on investment of this purchase, which metrics would you use?
O Purchase date
O 2019 events held at new venue (column D)
O Net profit in 2019 (column F)
O Purchase price (column C)
Net profit in 2019 is the metric to use (column F).
What is Net profit?The amount you make after deducting all legal business expenses is known as your net profit. You track net profit over a specified time frame. For instance, you could locate the first quarter's net profit.Finding and monitoring net profit can be straightforward, especially if you use simple accounting software. You input your financial transactions into the software. The computer program then computes totals for you. Net income, in both business and accounting, is an entity's revenue less costs, depreciation and amortization, interest, and taxes for a given accounting period. Net profit is the amount of money your company makes over a specific time period after subtracting all operating, interest, and tax costs.To learn more about financial transactions refer to:
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Which of the following products will be most suitable to use the order-up-to model to manage its inventory? Flowers for Valentine's Day O Memory chips at a computer assembly Costumes for Halloween O Christmas trees for Christmas
The order-up-to model will be best suited for managing inventory for Christmas trees. It is true that the period (Time between two ordering opportunities) for a company using the order-up-to model is always the same length of time.
An organisation or enterprising entity that engages in professional, commercial, or industrial activity can be referred to as a business. Different types of businesses rely on diverse elements. Some companies are for profit, but others are not. Their ownership also distinguishes them from one another in a similar manner. For instance, there are companies, partnerships, and many other business structures. A business is also a person who produces items or provides services with the intention of selling them for profit.Order up to model is defined as an inventory management technique.
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Caroline was found liable in an accident. This was probably not due to negligence on her part.
Caroline was found liable in an accident. This was probably not due to negligence on her part. FALSE Usually, liability is because of negligence.
If the motorist is determined to be at blame for the incident, they are entirely responsible for the accident, the injuries, and the damages. To receive payment for the losses you suffered, you must file an accident liability claim. You need to identify the responsible party after an accident. The person who caused the accident is the one who is accountable. There may be several responsible parties. However, a third person, such as an employer, who was unrelated to the collision may also be held accountable for the harm.To know more about Liability here
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several documents are not covered under the esign act. which of the following is not covered under the act?
A Trust Agreement is not covered under the E sign Act.
The E sign Act only applies to contracts and other documents that are considered “electronic records” under the Act. Trust Agreements are legal documents that establish the relationship between a trust and its beneficiaries, and are typically not considered electronic records under the eSign Act.
The E sign Act was designed to ensure that electronic documents, such as contracts, are legally enforceable in the same way as paper documents.
It applies to contracts, leases, and other documents that involve interstate or foreign commerce, and requires that a signature be provided electronically in order for the document to be legally binding.
Trust Agreements, however, are not typically considered documents that involve interstate or foreign commerce and are not covered by the Act.
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ney Edison has saved $30 per week to buy a new Blu-Ray player. He compares two difterent models a Panaview thas priced a $130 and a Zony mode that is priced at $140. Edison decides to purchase the Zony Blu-Ray player for $140. Identify what role money plays in each of the following parts of the story Hint: Select each role only once. Role of Money Edison can easily determine that the Panaview model has a lower model Edison seved $30 per week. Edison pays S140 for th, ?
The Panaview model is less expensive than the Zony type, as Edison can easily ascertain.
What role money plays in each of the following parts?Every week, Edison sets aside $30. His funds will retain their value over time as a store of value. The Blu-ray player costs $140, which Edison pays. Since he acquired the player in return for cash, a medium of trade.
Liquidity is the ease and speed with which assets can be turned into cash. $10 bills are the most liquid, followed by money market accounts.
Shares are in third place since selling a share requires a transaction and a cost. Boat is the least liquid asset because it takes time to sell and turn into cash. Cigarettes have intrinsic value, albeit not monetary value. commodity currency.
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Chin is extremely risk averse. This means that his utility function will have a ____ slope that ____ becomes more horizontal as his wealth rises. negative; slowly negative; rapidly positive; slowly positive; rapidly
Option (c), Chin has a very low risk tolerance. Thus, as his wealth increases, his utility function will gradually become more horizontal and have a positive slope.
What is shown by the law of declining marginal utility.The concept of declining marginal utility shows how an increase in subjective value increases ever more slowly with each additional unit of benefit. For instance, three sweet bites instead of two are desirable, but the experience does not considerably improve beyond the nineteenth bite (and could even make it worse).
What various utility functions exist?Form, time, place, and possession are the four different types of economic utility. By studying and identifying areas in which their marketing efforts fall short, businesses can examine consumer purchase decisions and discover the elements driving those decisions, which will enhance sales and profits.
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stephen and whitney have been married for 10 years. after taxes and other payroll deductions, they bring home $68,000 annually. if they save 10% of their take-home pay and use the rest for household living expenses, how much should they have in an emergency fund to meet the 3-month emergency fund requirement? (tip: assume that they spend all the rest of money on living expenses.) question 4 options: $5,100. $15,300. $17,000. $20,400.
They should have $17,000 in an emergency fund to meet 3-month emergency fund requirement.
What is an emergency fund?A personal budget set aside as a financial safety net for potential disasters or unforeseen bills is known as an emergency fund, sometimes known as a contingency fund. A crucial component of financial planning, it is meant to guarantee that one's personal finances are ready for any emergency so that the dangers of depending on credit, incurring debt, or simply running out of money are decreased if such a circumstance were to arise. Emergency savings can be used for unexpected travel costs, job loss, medical emergency, car trouble, and home appliance repairs and replacements. Depending on a person's individual financial or economic position, a recommended amount of money should be set aside for an emergency fund.
Emergency fund requirement= $68,000/4=$17,000
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a manufacturer is considering eliminating a segment because it shows the following $6,100 loss. all $20,200 of its variable costs are avoidable, and $36,500 of its fixed costs are avoidable.
The income increase or decrease from eliminating this segment is a loss of $ 10, 500.
How to find the income increase o decrease ?If the segment was continued by the manufacturer, the loss would be $ 6, 100 as shown in the question.
If the segment is eliminated, the loss would be:
= Income if the segment continues - Income if the segment is eliminated
= - 6, 100 + 10, 000
= - $ 3, 900
In conclusion, the income decrease would be a loss of $ 10, 500.
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Rest of the question is:
Compute the income increase or decrease from eliminating this segment.
Exercise
Two countries: the U.S. and Japan
Two goods: computers and wheat
• One resource: labor, measured in hours
• We will look at how much of both goods each country
produces and consumes - if the country chooses to be self-
sufficient - if it trades with the other country
Computer is on Horizontal axis
.
US
Japan
50,000 labor hours 30,000 labor hours
Computer Wheat Computer Wheat
50,000 0
30,000
0
40,000 10,000 25,000
5,000
30,000 20,000 20,000 10,000
25,000 25,000 15,000 15,000.
20,000 30,000 10,000 20,000
10,000 40,000 5,000
25,000
0
50,000
0
30,000
US
Production
100 hours = 1 computer 125 hours = 1 computer
10 hours 1 ton of wheat 25 hours = 1 ton of wheat
Japan
Production
Computer Wheat
0
500
Computer
240
Wheat
0
a. Calculate the production of computer and wheat for each
country.
b. Draw a production possibility curve for the US. Suppose
the U.S. uses half its labor to produce each of the two
goods. Then it will produce and consume 250 computers
and 2500 tons of wheat. Plot it on the graph.
c. Draw a production possibility curve for Japan. Suppose
Japan uses half its labor to produce each good. Then it will
produce and consume 120 computers and 600 tons of
wheat.
d. Suppose the U.S. produces 3400 tons of wheat. How many
computers would the U.S. be able to produce with its
remaining labor? Draw the point representing this
combination of computers and wheat on the U.S. PPF.
e. Suppose Japan produces 240 computers. How many tons
of wheat would Japan be able to produce with its remaining
labor? Draw this point on Japan's PPF.
f. Suppose the U.S. exports 700 tons of wheat to Japan, and
imports 110 computers from Japan. (So, Japan imports 700
tons wheat and exports 110 computers.) How much each
country gain from trade?
g. Who has the absolute advantages? Comparative
advantages? Why?
When each nation focuses on the good it produces at the lowest cost, two nations can benefit from trade.
What are the comparison of both Countries ?Absolute advantage calculates a product's cost based on the inputs needed to make it.
The amount of wheat that could be produced using the effort required to make one computer, in our example, is the opportunity cost of a computer.
Remember that opportunity cost also counts as a cost.
The amount of wheat that could be produced using the effort required to make one computer, in our example, is the opportunity cost of a computer.
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which of the following scenarios would serve to decrease the demand for unskilled labor in our country? question 24 options: increased productivity gains among the unskilled laborers increased demand for goods produced by unskilled labor increased international trade with countries where unskilled labor is more plentiful increased supply of migrant workers
Increased international trade with countries where unskilled labor is more plentiful could decrease the demand for unskilled labor in the country, as companies may be able to import goods produced by unskilled labor from these countries at a lower cost than they could produce the goods domestically.
What is unskilled labor?Unskilled labor refers to work that does not require specialized training or education. Unskilled labor is typically associated with manual or physical labor and may involve tasks such as cleaning, construction, or assembly line work. Unskilled labor is typically paid at a lower rate than skilled labor, as it does not require the same level of expertise or education.
What are some factors that can affect the demand for unskilled labor?Economic conditions: During economic downturns, demand for unskilled labor may decrease as businesses reduce their operations or lay off workers.
Technological advances: The adoption of technology that can automate or replace unskilled labor can lead to a decrease in the demand for unskilled labor.
Changes in the price of goods or services produced by unskilled labor: An increase in the price of goods or services produced by unskilled labor may lead to a decrease in the demand for these goods or services, which could in turn lead to a decrease in the demand for unskilled labor.
Changes in immigration policies: Changes in immigration policies that affect the availability of migrant workers may also affect the demand for unskilled labor.
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Bonita Companyâs sales budget projects unit sales of part 198Z of 9,000 units in January, 10,600 units in February, and 11,900 units in March. Each unit of part 198Z requires 4 pounds of materials, which cost $2 per pound. Bonita Company desires its ending raw materials inventory to equal 40% of the next monthâs production requirements, and its ending finished goods inventory to equal 20% of the next monthâs expected unit sales. These goals were met at December 31, 2021.
(a)
Prepare a production budget for January and February 2022.
BONITA COMPANY
Production Budget
choose the accounting period For the Month Ending January 31, 2022For the Two Months Ending February 28, 2022For the Quarter Ending February 28, 2022
January
February
select an opening production budget item Cost Per PoundDesired Pounds in Ending Materials InventoryBeginning Finished Goods InventoryDesired Ending Finished Goods InventoryBeginning Direct MaterialsDirect Materials PurchasesDirect Material Pounds Per UnitTotal Required UnitsTotal Pounds Needed for ProductionRequired Production UnitsTotal Materials RequiredTotal Cost of Direct Materials PurchasesExpected Unit SalesUnits To Be Produced
enter a number of units
enter a number of units
select between addition and deduction AddLess: select an item Total Required UnitsDesired Ending Finished Goods InventoryCost Per PoundTotal Cost of Direct Materials PurchasesDesired Pounds in Ending Materials InventoryBeginning Direct MaterialsTotal Pounds Needed for ProductionRequired Production UnitsDirect Materials PurchasesDirect Material Pounds Per UnitUnits To Be ProducedBeginning Finished Goods InventoryExpected Unit SalesTotal Materials Required
enter a number of units enter a number of units
select a summarizing line for the first part Total Cost of Direct Materials PurchasesRequired Production UnitsDesired Pounds in Ending Materials InventoryTotal Required UnitsTotal Materials RequiredTotal Pounds Needed for ProductionDirect Material Pounds Per UnitDirect Materials PurchasesDesired Ending Finished Goods InventoryUnits To Be ProducedBeginning Direct MaterialsExpected Unit SalesCost Per PoundBeginning Finished Goods Inventory
enter a total number of units for the first part
enter a total number of units for the first part
select between addition and deduction AddLess: select a production budget item Direct Material Pounds Per UnitDirect Materials PurchasesTotal Pounds Needed for ProductionBeginning Direct MaterialsCost Per PoundDesired Ending Finished Goods InventoryRequired Production UnitsTotal Materials RequiredUnits To Be ProducedTotal Required UnitsTotal Cost of Direct Materials PurchasesBeginning Finished Goods InventoryDesired Pounds in Ending Materials InventoryExpected Unit Sales
enter a number of units enter a number of units
select a closing production budget item Desired Ending Finished Goods InventoryTotal Pounds Needed for ProductionExpected Unit SalesTotal Materials RequiredBeginning Direct MaterialsTotal Required UnitsDirect Material Pounds Per UnitCost Per PoundDesired Pounds in Ending Materials InventoryBeginning Finished Goods InventoryTotal Cost of Direct Materials PurchasesUnits To Be ProducedDirect Materials PurchasesRequired Production Units
enter a total number of units enter a total number of units
The sales budget for Bonita Company forecasts 9,000 unit sales of component 198Z in January, 10,600 units in February. Required Production Units The date is January 9, 320. February 10,860.
A sales budget is a financial plan that forecasts a company's total revenue for a given time period. It forecasts the company's performance based on two factors: the quantity of items sold and the price at which they are sold. The company's management predicted sales of $ 5,000 in quarter one, $ 6,000 in quarter two, $ 7,000 in quarter three, and $ 8,000 in quarter four, with the selling price of $ 6 for the first two quarters and $ 7 for quarter three and quarter four. The sales budget is a planning technique that enables businesses to manage resources and earnings in accordance with predicted sales.
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which of the following are attainable production points that are not efficient? Check all that apply. Point A Point B Point C Point D Point E
The four elements of production are land, labor, capital, and entrepreneurialism, according to economists.
What is a productive point that is effective?Production efficiency is a word used in economics to describe the point at which an economy or other entity can no longer produce more of one good without reducing the level of production of a different one. When production is allegedly taking place along a production possibility frontier, something occurs (PPF).
On a frontier of production options, where are the efficient points?The Production Possibilities Curve (PPC) is a model that depicts scarcity and the opportunity costs of alternatives when given the choice between producing two goods or services. Points are inefficient within the PPC, efficient within the PPC, and unreachable outside the PPC.
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The demand curve for money shifts to the right when
A. the nominal interest rate decreases
B. the nominal gross domestic product increases
C. the real gross domestic product decreases
D. inflation decreases
E. the velocity of money increases
The demand curve for money shifts to the right when The velocity of money increases
While the money demand curve shows the relationship between the amount of money demanded and the interest rate in the economy, money demand refers to the overall demand for retaining cash in an economy. Let's take a step back and give these terms some context. It is practical for people to keep money in their pockets or bank accounts. They can pay their bills each day while they shop for food or go out with pals. However, there is a fee associated with storing cash on hand or in checking deposits. The cost of keeping money is known as the opportunity cost, and it is the amount of money you would have made if you had invested it in a resource that yields returns. even retaining
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