Aggregate demand and aggregate supply curves can be used to explain the impacts of various events on the price level (P) and equilibrium real GDP (y). The following are the effects of the following events on the price level and equilibrium real GDP in the long run, given that input prices fully adjust to output prices after some lag
a) In the case of an increase in the money supply above potential GDP, the short-run aggregate supply curve (SRAS) shifts rightward from SRAS to SRAS1, as shown in the graph below. When this happens, the equilibrium moves from E to E1, with a rise in both the price level (P) and equilibrium real GDP (y) (Y1). In the long run, input prices increase proportionally to output prices, resulting in a new equilibrium at E2, which has the same output level as potential GDP and a higher price level (P2).
The increase in the money supply has two effects. In the short run, the interest rate falls, resulting in an increase in spending, raising both the price level and output level. However, in the long run, input prices rise proportionally to output prices, resulting in higher prices but no change in output level.b) A decrease in government spending and the money supply with GDP above potential GDP occurs, causing the SRAS to shift leftward from SRAS to SRAS1. This results in a movement from E to E1, with both price level and equilibrium real GDP decreasing. In the long run, input prices fall proportionally to output prices, resulting in a new equilibrium at E2, which has the same output level as potential GDP and a lower price level (P2).The reduction in government spending and the money supply has two effects. In the short run, the interest rate increases, causing a decrease in spending, resulting in lower prices and output. However, in the long run, input prices fall proportionally to output prices, resulting in lower prices but no change in output level.c) Starting with the economy at potential GDP, a war in the Middle East pushes up energy prices temporarily. The Fed expands the money supply to accommodate inflation. The SRAS shifts leftward, causing the equilibrium to move from E to E1, with both price level and equilibrium real GDP rising. The Fed accommodates inflation by raising the money supply, which lowers the interest rate and raises spending, resulting in higher prices and output. In the long run, input prices rise proportionally to output prices, resulting in a new equilibrium at E2, which has the same output level as potential GDP and a higher price level (P2).The Fed's expansion of the money supply has two effects. In the short run, it lowers the interest rate and raises spending, resulting in higher prices and output. However, in the long run, input prices rise proportionally to output prices, resulting in higher prices but no change in output level.
To know more about that GDP visit
https://brainly.com/question/30504843
#SPJ11
with reference to south Africa, evaluate the potential effectiveness of fiscal policy by discussing the diferent point of view of government, and as well as certain realities about policy making that need to be considered
The potential effectiveness of fiscal policy in South Africa can be evaluated by considering the different points of view of the government and certain realities about policy making.
The government's perspective on fiscal policy in South Africa is generally aimed at achieving economic stability, promoting growth, reducing inequality, and addressing social challenges. Fiscal policy measures such as taxation, government spending, and public debt management are implemented to achieve these objectives. The government believes that by utilizing fiscal policy tools effectively, it can stimulate economic activity, create jobs, and improve living standards for its citizens.
However, there are certain realities about policy making in South Africa that need to be considered. These include political constraints, implementation challenges, limited fiscal space, corruption, and the impact of external factors such as global economic trends and commodity prices. The government may face difficulties in implementing fiscal policy due to bureaucratic inefficiencies, resistance to reforms, and conflicting political interests.
While fiscal policy has the potential to be effective in South Africa, its effectiveness is influenced by various factors. The government's commitment to implementing sound fiscal policies, addressing implementation challenges, combating corruption, and navigating external economic factors is crucial. Additionally, creating an enabling environment for private sector investment and job creation can further enhance the effectiveness of fiscal policy measures. By considering these different viewpoints and realities about policy making, policymakers can make informed decisions to maximize the potential effectiveness of fiscal policy in South Africa.
To know more about fiscal policy ,visit:
https://brainly.com/question/29790045
#SPJ11
When production levels are expected to decline within a relevant range, what effects would be anticipated with respect to each of the following? Fixed Costs Variable Costs Per Unit Per Unit A) Increase No change B) Increase Increase No change No change D) No change Increase Please use this information to answer questions 13, 14 & 15: Assume the following information for SABRES Company: Prime Costs Conversion Costs Direct Materials Used Beginning Work In Process Ending Work In Process $525,000 598,000 105,000 198,000 81,000 13. Direct Labor used is calculated to be: $ 14. Factory Overhead is calculated to be: $ 15. The total all in manufacturing cost for the period is calculated to be: $
When production levels are expected to decline within a relevant range there is no change in fixed costs whereas the variable costs increases. (13).The Direct Labor used is $73,000, (14). The Factory Overhead is $525,000 (15). The Total All-in Manufacturing Cost is $1,050,000
When production levels are expected to increase within a relevant range and a flexible budget is used, the anticipated effects with respect to fixed and variable costs are as follows:
Fixed Costs: Generally, fixed costs do not change with changes in production levels within a relevant range. These costs remain constant regardless of the level of production. Therefore, the fixed costs would be expected to remain unchanged.
Variable Costs: Variable costs, on the other hand, are directly influenced by changes in production levels. As production increases, variable costs tend to increase as well. This is because variable costs are directly related to the quantity of inputs or resources required to produce the goods or services.
Based on the information, we have:
Prime Costs = Direct Materials Used + Direct Labor Used
Prime Costs = $525,000
Conversion Costs = Direct Labor Used + Factory Overhead
Conversion Costs = $598,000
13. To calculate the value for direct labor used, we subtract the prime costs from the conversion costs:
Direct Labor Used = Conversion Costs - Prime Costs
Direct Labor Used = $598,000 - $525,000
Direct Labor Used = $73,000
14. To find the factory overhead, we subtract the direct labor used from the conversion costs:
Factory Overhead = Conversion Costs - Direct Labor Used
Factory Overhead = $598,000 - $73,000
Factory Overhead = $525,000
15. The total all-in manufacturing cost for the period is the sum of prime costs and factory overhead:
Total All-in Manufacturing Cost = Prime Costs + Factory Overhead
Total All-in Manufacturing Cost = $525,000 + $525,000
Total All-in Manufacturing Cost = $1,050,000
To know more about fixed costs click here
brainly.com/question/30195552
#SPJ11
Complete Question : When production levels are expected to increase within a relevant range, and a flexible budget is used, what effect would be anticipated with respect to fixed and variable costs?
Please use this information to answer questions 13, 14 & 15: Assume the following information for SABRES Company: Prime Costs Conversion Costs Direct Materials Used Beginning Work In Process Ending Work In Process $525,000 598,000 105,000 198,000 81,000 13. Direct Labor used is calculated to be: $ 14. Factory Overhead is calculated to be: $ 15. The total all in manufacturing cost for the period is calculated to be: $
7 Which form does an employee need to submit to obtain a Social
Security card?
a.
W-4
b.
I-9
c.
1099
d.
SS-5
To obtain a Social Security card, an employee needs to submit form SS-5. SS-5 is the correct form an employee needs to submit in order to obtain a Social Security card.
Option D is correct
A Social Security card is a significant document issued by the Social Security Administration (SSA) of the United States government. It is proof of a Social Security number (SSN) and a necessary document that must be produced for various purposes, including to get a job and to receive government benefits.
The Social Security card is an important identification document issued by the Social Security Administration (SSA) in the United States. It serves as proof of identity and is primarily used for employment and taxation purposes.
Here are some key points about the Social Security card:
Purpose: The primary purpose of the Social Security card is to track individuals' earnings and eligibility for Social Security benefits, such as retirement, disability, and survivor benefits.
Social Security Number (SSN): The card displays a unique nine-digit identification number known as the Social Security Number (SSN). The SSN is assigned by the SSA and remains the same throughout an individual's lifetime.
To know more about Social Security card here
https://brainly.com/question/32814470
#SPJ11
Which of the following is true about the auditors' observation of the client's physical inventory?
A. The auditors should plan the physical inventory.
B. The auditors should segregate damaged and obsolete goods.
C. The auditors should evaluate the adequacy of the client's counting procedures.
D. The auditors should supervise the client's personnel.
The true option regarding the auditors' observation of the client's physical inventory is all of the above. Thus, option E is correct.
The physical inventory should be planned by the auditors as this is accurate. In order to ensure that the physical inventory is carried out successfully and efficiently, auditors should be included in the planning process.
It is true that the auditors should separate out broken and outdated products. Auditors should recognize and remove from the inventory any damaged or out-of-date items during the physical inventory inspection.
The auditors should assess if the client's counting methods are adequate to make sure that the client's counting procedures are dependable and capable of providing correct inventory records, auditors must evaluate their suitability.
The auditors should supervise the client's personnel because that the auditors should oversee the employees of the client. Auditors should supervise and keep an eye on the client's employees as they count items during the physical inventory observation.
Thus, option E is correct.
To learn more about the physical inventory, refer to:
https://brainly.com/question/29749768
#SPJ4
The options are:
The auditors should plan the physical inventory.The auditors should segregate damaged and obsolete goods.The auditors should evaluate the adequacy of the client's counting procedures.The auditors should supervise the client's personnel.All of the above.Suppose the government runs a redistributive tax scheme. That is, the government redistributes income across the two groups by setting tl = 1/2 y¯ and tb = − 1/2 y¯ in the current period and t'b = 1/2 y¯ and t'l = − 1/2 y¯ in the future period. Use a graphical analysis to analyse the effects of the introduction of the new tax scheme on the consumer choice of group b
Graphical analysis: The budget line of group b in the present period rotates inwards. This is because the current lump-sum transfer from group l to group b reduces the budget line of group b by half the size of the transfer. This implies that for any given price of x, group b has less purchasing power. Since the lump-sum transfer is symmetric, the budget line of group l rotates outward in the present period by half the size of the transfer, leaving group l with more purchasing power. The slope of the budget line remains the same because there is no change in the relative price of x and y in the present period.
Therefore, group b can still afford to purchase the same amount of x and y as before because their relative prices are unchanged.
The endowment point, E, remains unchanged since there is no change in the initial distribution of resources. The optimal consumption point for group b is point U, where the budget line is tangent to the indifference curve.The introduction of the new tax scheme on the consumer choice of group b has no effect on its relative demand for x and y in the current period. The relative price remains constant, and the income effect of the lump-sum transfer is zero.
Therefore, group b will continue to purchase x and y in the same ratio as before. In the future period, the budget line rotates outwards by half the size of the transfer from group b to group l. Therefore, group b has more purchasing power in the future period, and the slope of the budget line remains the same since there is no change in the relative prices of x and y.The endowment point, E, remains unchanged since there is no change in the initial distribution of resources.
The optimal consumption point for group b is point W, where the budget line is tangent to the indifference curve.The introduction of the new tax scheme on the consumer choice of group b has no effect on its relative demand for x and y in the future period. The relative price remains constant, and the income effect of the lump-sum transfer is zero. Therefore, group b will continue to purchase x and y in the same ratio as before.
In conclusion, the introduction of the new tax scheme has no effect on the relative demand for x and y by group b in both the present and future periods. Group b will continue to purchase x and y in the same ratio as before because their relative prices are unchanged.
know more about indifference curve here,
https://brainly.com/question/32563509
#SPJ11
Are you going to use the very same business plan in front of
different types of investors? Please, explain.(500 words)
When it comes to presenting your business plan to investors, it is important to tailor your pitch to your audience. While the overall structure and content of your plan may remain the same, you will need to make adjustments based on the type of investor you are presenting to.
The some factors to consider:
1. The investor's background and experience: Different investors will have different levels of experience and expertise in your industry or market. You will need to adjust your presentation accordingly, avoiding technical jargon or going into too much detail if your audience is not familiar with your field.
2. The investor's investment style: Different investors have different investment goals and strategies. Some may be more focused on long-term growth, while others may be looking for short-term gains. Some may be interested in investing in early-stage startups, while others may prefer established businesses. You should tailor your pitch to highlight the aspects of your business that are most relevant to your audience.
3. The investor's risk tolerance: Some investors are more risk-averse than others. If you are presenting to a conservative investor, you will need to emphasize the stability of your business model and your ability to generate consistent returns. On the other hand, if you are presenting to a more adventurous investor, you may want to focus on the potential for high growth and the disruptive potential of your business.
4. The investor's financial capacity: Different investors will have different levels of financial resources at their disposal. If you are pitching to a high-net-worth individual or a venture capital firm, you may be able to ask for a larger investment. However, if you are pitching to a smaller investor, you may need to be more modest in your requests.
5. The investor's values and interests: Some investors may have specific values or interests that they want to see reflected in the businesses they invest in. For example, an investor who is passionate about environmental sustainability may be more interested in a business that has a strong environmental focus. You should research your potential investors to find out what is important to them and adjust your pitch accordingly.
In conclusion, while you may use the same business plan for different types of investors, you should always tailor your presentation to your audience. By understanding your audience's background, investment style, risk tolerance, financial capacity, and values, you can create a pitch that is more likely to resonate with them and lead to a successful investment.
For more about business plan:
https://brainly.com/question/13160849
#SPJ11
Required Rate of Return As an equity analyst you are concerned with what will happen to the required return to Universal Toddler' stock as market conditions change. Suppose rRF = 4%, rM = 8%, and bUT = 2.2. Under current conditions, what is rUT, the required rate of return on UT Stock?
Round your answer to two decimal places. 12.8 %
Now suppose rRF increases to 5%. The slope of the SML remains constant. How would this affect rM and rUT?
I. rM will increase by 1% and rUT will remain the same.
II. Both rM and rUT will decrease by 1%.
III.Both rM and rUT will remain the same.
IV. Both rM and rUT will increase by 1%.
V. rM will remain the same and rUT will increase by 1%.
Suppose rRF decreases to 3%. The slope of the SML remains constant. How would this affect rM and rUT?
I. Both rM and rUT will decrease by 1%.
II. rM will decrease by 1% and rUT will remain the same.
III. rM will remain the same and rUT will decrease by 1%.
IV. Both rM and rUT will increase by 1%.
V. Both rM and rUT will remain the same.
Now assume rRF remains at 4% but rM increases to 10%. The slope of the SML does not remain constant. How would these changes affect rUT?
I. rUT will increase by 4.4%.
II. rUT will remain the same.
III. rUT will decrease by 4.4%. Assume rRF remains at 4% but rM falls to 7%. The slope of the SML does not remain constant.
How would these changes affect rUT?
I. rUT will increase by 2.2%.
II. rUT will remain the same.
III. rUT will decrease by 2.2%.
The required rate of return on Universal Toddler's (UT) stock, denoted as rUT, can be calculated using the Capital Asset Pricing Model (CAPM) formula:
rUT = rRF + (rM - rRF) * bUT
Given the values rRF = 4%, rM = 8%, and bUT = 2.2, we can substitute them into the formula to find the required rate of return:
rUT = 4% + (8% - 4%) * 2.2
rUT = 4% + 4% * 2.2
rUT = 4% + 8.8%
rUT = 12.8%
So, under current conditions, the required rate of return on UT stock is 12.8%.
Now let's consider the changes in rRF and rM and their effects on rUT:
1. If rRF increases to 5% while the slope of the Security Market Line (SML) remains constant, both rM and rUT would remain the same. Therefore, statement III is correct.
2. If rRF decreases to 3% while the slope of the SML remains constant, both rM and rUT would remain the same. Hence, statement V is correct.
3. If rRF remains at 4% but rM increases to 10% and the slope of the SML does not remain constant, the change in rM would affect rUT. The new rUT would increase by the product of the change in rM (6%) and the stock's beta (2.2), resulting in a 4.4% increase. Thus, statement I is correct.
4. If rRF remains at 4% but rM falls to 7% and the slope of the SML does not remain constant, the change in rM would affect rUT. The new rUT would decrease by the product of the change in rM (-1%) and the stock's beta (2.2), leading to a 2.2% decrease. Hence, statement III is correct.
In summary, the effects on rUT are as follows:
- If rRF changes while the slope of the SML remains constant, rUT remains the same.
- If rM changes while the slope of the SML remains constant, rUT remains the same.
- If rM changes and the slope of the SML does not remain constant, rUT changes proportionately to the change in rM multiplied by the stock's beta.
To learn more about Stock - brainly.com/question/31940696
#SPJ11
Herzberg concluded that pay was not a motivator. If you were paid to get better grades, would you be motivated to study harder? In your work experience, have you worked harder to obtain or as a result of receiving a large raise? Do you agree/disagree with Herzberg?
According to the two-factor theory by Herzberg, there are two factors that influence employee motivation: hygiene factors and motivational factors. In my work experience, I have worked harder to obtain a large raise and I agree with Herzberg that pay may not be a motivator for everyone
Hygiene factors are those that create a comfortable work environment, and motivational factors are those that create an environment that motivates employees to work harder and reach their full potential. Some of the hygiene factors include pay, working conditions, job security, and company policies.
Motivational factors, on the other hand, include opportunities for growth, achievement, recognition, and personal development.While some people are motivated by pay, others are motivated by recognition, opportunities for growth, or personal development. Thus, an increase in salary or pay may not be the only way to motivate employees.
However, I believe that motivational factors such as recognition, growth opportunities, and personal development are essential in motivating employees and should not be ignored. Therefore, while pay can work as a motivator for some individuals, it is not a one-size-fits-all solution for employee motivation.
In conclusion, I agree with Herzberg that pay may not be a motivator for everyone. Still, there are individuals who are motivated by pay and an increase in salary may make them work harder. However, other motivational factors such as recognition, growth opportunities, and personal development should not be ignored, as they play a vital role in employee motivation.
To learn more about two-factor theory click here:
https://brainly.com/question/12981365#
#SPJ11
An increase in net working capital due to an investment results in a increase in cash flows. O True O False
"An increase in net working capital due to an investment results in an increase in cash flows" is considered True. It is widely known that an increase in net working capital due to investment leads to an increase in cash flows. What is Net Working Capital?
The net working capital can be defined as the difference between the current assets and current liabilities of an enterprise. It's a vital metric that tells about a company's liquidity and short-term ability to pay its debts and liabilities.The formula for calculating net working capital is as follows:Net Working Capital = Current Assets - Current LiabilitiesHow can investments affect Net Working Capital?An investment may affect the net working capital of a company because it can either increase or decrease the company's current assets or current liabilities.
Investment in inventories and account receivables results in increased current assets, which raises net working capital. The purchase of equipment results in an increase in net working capital, whereas an investment in account payables or payment of salaries, for instance, decreases net working capital. Final thoughts It is crucial to monitor and manage net working capital effectively to maintain business continuity and growth. A positive net working capital indicates the company's ability to pay off short-term debts. On the other hand, a negative net working capital may imply that the company is struggling with its operational finances.
To know more about capital visit:
https://brainly.com/question/32408251
#SPJ11
FILL THE BLANK. "Suppose the MARR is 12%. Use the following table to answer the
question--The IRR on the FMS Investment is ____.
CMS
FMS
Initial Investment
$20,000
$29,000
Annual Revenue
6,688
9,102
Useful L"
If the MARR is 12% the IRR on the FMS Investment is zero (0). The IRR on the FMS investment is the interest rate at which the net present value (NPV) of the cash flows from the investment becomes zero.
Based on the provided information, the IRR for the FMS investment can be calculated by solving for the discount rate that equates the present value of the annual revenue with the initial investment.
Using the MARR (Minimum Acceptable Rate of Return) of 12%, we can calculate the IRR for the FMS investment as follows:
IRR = Discount rate that makes the present value of cash flows equal to the initial investment
IRR = Discount rate where NPV
IRR = 0
IRR = Discount rate where Initial Investment - Present Value of Annual Revenue
IRR = 0
IRR = Discount rate where $29,000 - Present Value of $9,102
IRR = 0
The IRR will be zero. The Internal Rate of Return (IRR) is a financial metric used to evaluate the profitability of an investment. It represents the discount rate that makes the net present value (NPV) of an investment's cash flows equal to zero.
Learn more about IRR https://brainly.com/question/13373396
#SPJ11
Describe the response of a Hospital in a Bio Disaster.
When a bio disaster occurs, hospitals are one of the most important components of the response team. They are responsible for treating, managing and containing the spread of the disease in order to protect the public health.
A bio disaster can be defined as any event that leads to the release of toxic, infectious, or harmful substances into the environment that can cause harm to humans or other living organisms. The response of a hospital in a bio disaster involves a number of different steps.
The first step is to establish a command center to coordinate the response effort. This involves identifying key personnel who will be responsible for managing the response effort, including the medical staff, administration, public health officials, and emergency responders. Once the command center is established, the hospital will begin to mobilize resources to respond to the disaster. This may include establishing isolation wards to contain the spread of the disease, deploying medical personnel to provide treatment and care, and establishing protocols for handling contaminated materials. In addition, hospitals will work closely with public health officials to monitor the spread of the disease and implement measures to prevent further spread. Finally, hospitals will work to educate the public about the risks associated with the disaster and provide guidance on how to stay safe and healthy.Overall, the response of a hospital in a bio disaster is critical to protecting public health and minimizing the impact of the disaster.
Learn more about Biological-disaster at:
https://brainly.com/question/29726836
#SPJ11
____________ is buying a country's currency spot and selling it forward, while making a profit on the combination of the interest rate in that country and any forward premium on its currency.
Carry trade is buying a country's currency spot and selling it forward, while making a profit on the combination of the interest rate in that country and any forward premium on its currency.
Carry trading is the practise of taking out a loan in a currency with a low interest rate and investing the money in a currency with a higher interest rate. A carry trade involves purchasing money at a lower interest rate and investing it in a market with higher fees. Due to the fact that one would be receiving returns while borrowing money at a low rate, the returns or profits resulting from the difference in interest rates would be considerable.
The funds would normally be moved there if the second currency has a better interest rate. The funds could be used to purchase securities with a value in a different currency, such as stocks, commodities, bonds, or real estate. Due to the risks involved, carry trades are only acceptable for rich investors.
Read more about carry trade on:
https://brainly.com/question/31853005
#SPJ4
Accounts payable:
a. Are amounts owed to suppliers for products and/or services purchased on credit
b. Are long-term liabilities
c. Are estimated liabilities
d. Do not include specific due dates.
e. Must be paid within 30 days
a. Accounts payable are amounts owed to suppliers for products and/or services purchased on credit.
Accounts payable are a type of short-term liability that represents the money owed by a company to its suppliers or vendors for goods or services received on credit. When a company purchases goods or services but does not make an immediate payment, it creates an account payable entry.
The accounts payable balance reflects the outstanding obligations that the company has to its suppliers. It represents the amount of money that the company owes and needs to pay within a specified period, typically within 30 to 60 days, although the payment terms can vary.
Accounts payable are an essential component of a company's working capital management as they represent the company's short-term debts and obligations. Managing accounts payable effectively involves maintaining accurate records, monitoring payment terms, and ensuring timely payments to suppliers to maintain good relationships and avoid late payment penalties.
To learn more about Accounts payable click here
brainly.com/question/31439134
#SPJ11
several years ago benny jackson acquired an apartment building that currently generates a loss of $60,000 in 2022. benny's agi is $130,000 before considering the loss. benny is an active participant in managing the building. how much of the $60,000 loss can benny deduct in 2022? $0 $15,000 $10,000 $25,000
Benny Jackson can deduct $10,000 of the $60,000 loss in 2022. The remaining $50,000 loss may be carried forward to future years and potentially offset against future passive income or when AGI falls within the allowable limits. (Option c)
To determine how much of the $60,000 loss Benny Jackson can deduct in 2022, we need to consider the rules regarding the passive activity loss limitation.
If Benny is an active participant in managing the apartment building, he may be able to offset the loss against his other income. However, there are certain income thresholds and limitations that need to be taken into account.
First, we need to determine if Benny's income falls within the limits set by the IRS. For individuals with adjusted gross income (AGI) below $100,000, the maximum allowable passive activity loss deduction is $25,000. However, the deduction is gradually phased out for individuals with AGI between $100,000 and $150,000.
Since Benny's AGI is $130,000, we need to calculate the reduction in his deduction using the applicable phase-out formula. The formula is as follows:
Deduction Reduction = (AGI - $100,000) / $50,000 x Maximum Allowable Deduction
In this case, the maximum allowable deduction is $25,000. Plugging in Benny's AGI into the formula:
Deduction Reduction = ($130,000 - $100,000) / $50,000 x $25,000
= $30,000 / $50,000 * $25,000
= $15,000
Therefore, Benny's deduction for the $60,000 loss would be reduced by $15,000.
Final Deduction = Maximum Allowable Deduction - Deduction Reduction
= $25,000 - $15,000
= $10,000
Benny Jackson can deduct $10,000 of the $60,000 loss in 2022. The remaining $50,000 loss may be carried forward to future years and potentially offset against future passive income or when AGI falls within the allowable limits.
The complete question is:
Several years ago Benny jackson acquired an apartment building that currently generates a loss of $60,000 in 2022. Benny's AGI is $130,000 before considering the loss. Benny is an active participant in managing the building.
How much of the $60,000 loss can benny deduct in 2022?
a. $0
b. $15,000
c. $10,000
d. $25,000
To know more about AGI follow the link:
https://brainly.com/question/30784393
#SPJ4
31. Which of the following is least likely an example of a discrete random variable?
A. The number of stocks a person owns
B. The time spent by a portfolio manager with a client
C. The number of days it rains in a month in Iowa City
32. For a continuous random variable X, the probability of any single value of X is:
A. one.
B. zero.
C. determined by the CDF
33. Which of the following is least likely a condition of a binomial experiment?
A. There are only two trials
B. The trials are independent
C. If p is the probability of success, and q is the probability of failure, then p + q = 1
34. For the standard normal distribution, the z-value gives the distance between the mean and a point in terms of the:
A. variance
B. standard deviation
C. center of the curve
35. For a standard normal distribution, F (0) is:
A. 0.0
B. 0.1
C. 0.5
36. For the standard normal distribution, P (0 ≤ Z ≤ 1.96) is:
A. 0.4713
B. 0.4745
C. 0.4750
37. A study of hedge fund investors found that their annual household incomes are normally distributed with a mean of $175,000 and a standard deviation of $25,000.
The percent of hedge fund investors that have incomes less than $100,000 is closest to:
A. 0.05%
B. 0.10%
C. 0.13%
38. The probability that a normally distributed random variable will be more than two standard deviations above its mean is:
A. 0.0228
B. 0.4772
C. 0.9772
39. Which of the following statements about hypothesis testing is most accurate?
A. A Type II error is rejecting the null when it is actually true
B. The significance level equals one minus the probability of a Type I error
C. A two-tailed test with a significance level of 5% has z-critical values of ±1.96
40. Austin Roberts believes that the mean price of houses in the area is greater than $145,000. A random sample of 36 houses in the area has a mean price of $149,750. The population standard deviation is $24,000, and Roberts wants to conduct a hypothesis test at a 1% level of significance.
The appropriate alternative hypothesis is:
A. Ha: < $145,000
B. Ha: ≥ $145,000
C. Ha: > $145,000
31. The time spent by a portfolio manager with a client. Option B
32. the probability of any single value of X is zero. Option B
33. There are only two trials. Option A
34. the distance between the mean and a point in terms of the:standard deviation. Option B
35. For a standard normal distribution, F (0) is: 0.5. Option C
36. For the standard normal distribution, P (0 ≤ Z ≤ 1.96) is: 0.4750. option C
37. The percent of hedge fund investors that have incomes less than $100,000 is closest to: 0.10%. Option B
38. . The probability is 0.9772. Option C
39. A Type II error is rejecting the null when it is actually true. Option A
40. The appropriate alternative hypothesis is:Ha: > $145,000. OPtion C
31. B. The time spent by a portfolio manager with a client is least likely an example of a discrete random variable. Discrete random variables are those that can take on a finite or countable number of distinct values. In this case, the time spent with a client can vary continuously and is not limited to specific distinct values. Option B
32. B. The probability of any single value of a continuous random variable X is zero. This is because continuous random variables have an infinite number of possible values within a given range. The probability of obtaining any specific value is infinitesimally small and is considered to be zero. Option B
33. A. There are only two trials is least likely a condition of a binomial experiment. A binomial experiment consists of a fixed number of independent trials, typically more than two. The trials can result in two possible outcomes (success or failure) and have a constant probability of success for each trial. Option A
34. B. The z-value gives the distance between the mean and a point in terms of the standard deviation. The z-value, also known as the z-score, measures the number of standard deviations a data point is away from the mean in a standard normal distribution. Option B
35. C. For a standard normal distribution, F(0) is 0.5. The value 0.5 corresponds to the probability that a standard normal random variable takes a value less than or equal to 0. It represents the area under the curve to the left of 0. Option C
36.C. For the standard normal distribution, P(0 ≤ Z ≤ 1.96) is 0.4750. This probability represents the area under the standard normal curve between 0 and 1.96 standard deviations above the mean. Option C
37. B. The percent of hedge fund investors that have incomes less than $100,000 can be calculated using the standard normal distribution. First, we calculate the z-score for $100,000 using the formula z = (x - μ) / σ, where x is the value, μ is the mean, and σ is the standard deviation. Plugging in the values, we get z = (100,000 - 175,000) / 25,000 = -3. The closest probability to the z-score of -3 is approximately 0.10%. Option B
38. C. The probability that a normally distributed random variable will be more than two standard deviations above its mean is 0.0228. This corresponds to the area under the standard normal curve to the right of 2 standard deviations above the mean. Option C
39. A. A Type II error is rejecting the null when it is actually true. Type II error occurs when we fail to reject the null hypothesis when it is false. Type I error is rejecting the null hypothesis when it is actually true. The significance level, denoted as α, represents the probability of committing a Type I error. Option A
40. C. The appropriate alternative hypothesis is Ha: > $145,000. Austin Roberts believes that the mean price of houses in the area is greater than $145,000, so the alternative hypothesis should reflect this belief. Option C
For more such questions on portfolio visit:
https://brainly.com/question/29518759
#SPJ11
The Good Soap Co makes environmentally-friendly soap using three
basic ingredients. The standard cost card for one batch of soap for
the month of September was as follows:
Material Kilograms Price per
The Good Soap Co makes environmentally-friendly soap using three basic ingredients. The standard cost card for one batch of soap for the month of September was as follows.
Material Kilograms Price per kilogram Cost per batch Oils 10 The standard cost card for one batch of soap for the month of September is as follows.Material Kilograms Price per kilogram Cost per batch Oils 10 $2.50 per kg $25.00Lye 3 $1.00 per kg $3.00Water 15 $0.10 per kg $1.50Total $29.50Thus, the correct option is 10, $2.50 per kg, $25.00.
Material Kilograms Price per kilogram Cost per batch Oils 0 0Water 15 $0.10 per kg $1.50Total $29.50Thus, the correct option is 10, $2.50 per kg, $25.00. The Good Soap Co makes environmentally-friendly soap using three basic ingredients. The standard cost card for one batch of soap for the month of September was as follows.
To know more about environmentally visit :
https://brainly.com/question/21976584
#SPJ11
Eric Thompson is the new flat-panel TV division manager for LG Electronics. He wants to create a $50 cash rebate program to promote the new OLED micron- technology televisions. Eric conducts a survey and at the end of 1 week, he has 300 respondents and an overall variability of 28% for the key factor (How many people would buy a flat-panel television with a $50 rebate") Using the appropriate formulas: (a) calculate the +/- Margin of Sample Error for a 99% confidence level (b) what is the 99% confidence interval for the responses?
a) Thus, the Margin of Sample Error for a 99% confidence level is 0.008. b) Thus, the 99% confidence interval for the responses is (0.712, 0.728). are the answers
a. Calculate the Margin of Sample Error for a 99% confidence level:
The formula to calculate the margin of sample error is given as,
M = (zα/2 * σ) / √n
where,σ = the population standard deviation.
zα/2 = the z-score for the given level of confidence. n = the sample size
M = Margin of Error.
Here, σ is unknown and n is more than 30;
thus, we use the sample standard deviation as a replacement for σ.
The formula to calculate the sample standard deviation is given as,
s = √(p(1-p)/n)
where, p = the proportion of respondents that would purchase a flat-panel television with a $50 rebate.
s = the sample standard deviation.
p = 1 - 0.28
p = 0.72s
p = √(0.72(1-0.72)/300)
p = 0.045
Zα/2 = Z0.005
Zα/2 = 2.576 (from z-table)
M = (2.576 * 0.045) / √300
M = 0.008
Thus, the Margin of Sample Error for a 99% confidence level is 0.008.
b. What is the 99% confidence interval for the responses?
The confidence interval formula is given as,
CI = p + M & CI = p - M
where, CI = Confidence interval, p = the proportion of respondents that would purchase a flat-panel television with a $50 rebate.
M = Margin of Error, From part a, we found that M = 0.008, and from the given information, we know that
p = 1 - 0.28 = 0.72
Thus,
CI = 0.72 +0.008 &
CI = 0.72 - 0.008
CI = (0.712, 0.728)
Thus, the 99% confidence interval for the responses is (0.712, 0.728).
Note: The margin of error is calculated by using the sample size and sample statistics to estimate the likely difference between the sample results and the actual population data.
Confidence interval is a range of values, derived from a data sample, that is expected to include the true population value with a particular level of confidence.
to know more about margin of error visit:
https://brainly.com/question/29419047
#SPJ11
Current Attempt in Progress The following selected data are taken from the comparative financial statements of Whispering Winds Curling Club. The club prepares its financial statements using the accru
The net income for the year, using the financial statements of Whispering Winds Curling Club is $46,000.
To calculate the net income for the year, we can use the following formula:
Net Income = Beginning Retained Earnings + Net Income (or Loss) - Dividends
Beginning Retained Earnings = $45,000
Ending Retained Earnings = $58,000
Dividends Declared and Paid = $12,000
Net Income = $45,000 + Net Income - $12,000
To find the net income, we need to determine the change in retained earnings during the year. We can calculate it as follows:
Change in Retained Earnings = Ending Retained Earnings - Beginning Retained Earnings
Change in Retained Earnings = $58,000 - $45,000 = $13,000
Now we can substitute this value into the equation to solve for net income:
Net Income = $45,000 + $13,000 - $12,000
Net Income = $46,000
To know more about earnings, here
https://brainly.com/question/30702029
#SPJ4
--The complete question is, Based on the selected data from the comparative financial statements of Whispering Winds Curling Club, which is prepared using the accrual basis of accounting, please calculate the net income for the year based on the following information: beginning retained earnings of $45,000, ending retained earnings of $58,000, dividends declared and paid of $12,000, and an increase in accounts payable of $8,000.--
if the elasticity of demand is 3, then a 10 percent increase in price will cause quantity demanded to fall by 3 percent.
The correct interpretation of a price elasticity of demand of 3 is a 10 percent increase in the price of the good causes quantity demanded to decrease by 30 percent. The correct option is B.
The quantity demanded responsiveness to price changes is measured by the price elasticity of demand. A demand that is reasonably elastic is indicated by a price elasticity of demand value of 3. Accordingly, a 1% price increase will lead to a 3% decrease in quantity demanded, and a 1% price decrease will result in a 3% increase in quantity demanded.
To put it another way, changes in price have a significant impact on the quantity demanded. Therefore a 10 percent price increase would result in a larger percentage decrease in quantity demanded, specifically a 30 percent decrease. This demonstrates how responsive consumer behavior in this situation is to price changes. The correct option is B.
Learn more about price elasticity at:
brainly.com/question/30161342
#SPJ4
The question is incorrect, correct question is "Suppose the value of the price elasticity of demand is 3. Which of the following is the correct interpretation of this elasticity?
A. A 10 percent increase in the price of the good causes quantity demanded to decrease by 3 percent.
B. A 10 percent increase in the price of the good causes quantity demanded to decrease by 30 percent.
C. A $1 increase in price caused quantity demanded to decrease by 3 units.
D. A 3 percent increase in the price of the good causes quantity demanded to decrease by 1 percent.
E. A $3 increase in the price of the good causes quantity demanded to decrease by 1 unit."
Anta networks want to modernize their networking system. Proposals have been received from two major software companies. The first proposal cost OMR9million but will raise the firm's annual cash flows by OMR5million. The second proposal cost OMR8million and provides cash flow of OMR5.5million a year. Both projects have a life span of 4 years. Assuming that the cost of capital is 9%, which proposal may be recommended on the basis of Net Present Value criteria.
The Net Present Value (NPV) method of capital budgeting assesses the profitability of an investment project by comparing its current cash inflows to its current cash outflows.The given information can be summarized as follows:
Proposal 1 requires an investment of OMR 9 million and generates OMR 5 million per year for four years.Proposal 2 requires an investment of OMR 8 million and generates OMR 5.5 million per year for four years.The cost of capital is 9 percent. To calculate the NPV of both projects, the following formula should be used:NPV = (-Initial Investment) + CF1 / (1 + r) + CF2 / (1 + r)² + … + CFn / (1 + r)n.
Here, CF represents the net cash inflows for each year, r represents the cost of capital, and n represents the life of the project.The NPV of the first proposal is calculated as follows: The NPV of the second proposal is calculated as follows:NPV2 = (-OMR8 million) + OMR5.5 million / (1 + 0.09) + OMR5.5 million / (1 + 0.09)² + OMR5.5 million / (1 + 0.09)³ + OMR5.5 million / (1 + 0.09)⁴= -OMR8 million + OMR5.05 million + OMR4.41 million + OMR3.84 million + OMR3.34 million= OMR8.64 millionSince the NPV of the second proposal is higher than the NPV of the first proposal, it may be recommended on the basis of Net Present Value criteria. Therefore, proposal 2 is the better option.
To know more about investment visit :
https://brainly.com/question/15105766
#SPJ11
Which organization has the primary responsibility for setting
Generally Accepted Accounting Principles (GAAP) in Canada?
Multiple Choice
CPA Canada
IFRS
the Canadian Parliament
ASPE
The organization has the primary responsibility for setting
Generally Accepted Accounting Principles (GAAP) in Canada is "CPA Canada" (Chartered Professional Accountants of Canada). The correct option is A.
The type of organization responsibility refers to the specific role and obligations of an organization in carrying out its designated tasks or functions.
It outlines the duties, actions, and accountability of the organization in fulfilling its assigned responsibilities.
Therefore, the correct option is A that is CPA Canada.
To know more about Accounting Principles here,
https://brainly.com/question/14566016
#SPJ4
"Why do companies analyze their logistics systems from the
perspective of nodes and links?
Companies analyze their logistics systems from the perspective of nodes and links to identify possible inefficiencies Because it allows companies to optimize their supply chain by addressing bottlenecks and weak points in the system.
A node can be defined as any point within the logistics system, including warehouses, production sites, and transportation hubs, while a link refers to the physical connections that link nodes together, such as transportation routes, communication systems, and information flows.
This approach is based on the idea that logistics systems can be optimized by identifying and addressing bottlenecks and weak points in the system.A logistics system can be thought of as a network of nodes and links, and analyzing the system in this way allows companies to gain a holistic understanding of their operations.
By looking at the system as a whole, companies can identify key areas of the logistics system that may be underperforming and develop strategies to improve them. For example, a company may identify a bottleneck in their transportation network that is causing delays in the delivery of goods.
By analyzing the network from a node and link perspective, the company can identify the root cause of the bottleneck and develop strategies to alleviate it.
This may involve re-routing transportation routes, increasing the capacity of transportation hubs, or optimizing communication systems to improve coordination between different nodes within the logistics system.
In conclusion, companies analyze their logistics systems from the perspective of nodes and links to gain a holistic understanding of their operations and identify opportunities for improvement. This approach allows companies to optimize their supply chain by addressing bottlenecks and weak points in the system.
For more question on nodes visit:
https://brainly.com/question/32319829
#SPJ8
If the marginal propensity to consume is zero, a temporary tax
increase leads to a small increase in inflation in the short run
but a large increase in inflation in the long run why is this true
or fa
If the marginal propensity to consume is zero, a temporary tax
increase leads to a small increase in inflation in the short run
but a large increase in inflation in the long run. The statement is false.
If the marginal propensity to consume (MPC) is zero, it means that individuals do not increase their consumption in response to an increase in income. In this case, a temporary tax increase would have no immediate impact on consumption or aggregate demand.
In the short run, the effect of the tax increase on inflation would depend on the overall state of the economy and other factors. Generally, a temporary tax increase would have a limited direct impact on inflation in the short run, as it does not directly affect the supply or demand for goods and services.
In the long run, the key determinants of inflation are the growth rate of the money supply, aggregate demand, and aggregate supply. A temporary tax increase, on its own, does not directly affect these factors in a way that would lead to a large increase in inflation in the long run. Other factors, such as changes in monetary policy, fiscal policy, or productivity, would have a more significant influence on inflation in the long term.
A temporary tax increase leading to a small increase in inflation in the short run and a large increase in inflation in the long run is not true. The impact of a tax increase on inflation is influenced by various factors, and the marginal propensity to consume being zero does not necessarily lead to a significant long-run inflationary effect.
To know more about inflation , visit :
https://brainly.com/question/28136474
#SPJ11
Give at least two examples of contract clauses that seem to contain "punitive damages" clauses and whether you feel such clauses should or should bot be enforced. (An example if the "returned check fees" that banks charged)
A punitive damages clause in a contract is one that enables the non-breaching party to recover money beyond what is necessary to cover actual damages in order to punish the breaching party. Here are a couple of examples of contract clauses that appear to contain punitive damages clauses
Late Payment Fee: A late payment fee is a fee assessed on a party who fails to pay an invoice by the deadline. While some of these clauses only provide for a small fee to cover administrative expenses, others may provide for a substantial percentage of the amount due. If a late payment fee appears to be a penalty, rather than a fee intended to compensate the creditor for any real damages caused by the late payment, it may be considered an unenforceable punitive damages clause returned check feeBanks may charge a returned check fee in order to compensate them for the cost of handling a bounced check. Some banks, on the other hand, impose large fees as a penalty, rather than as a means of compensating them for the genuine costs of a returned check.
A returned check fee that is so substantial that it does not correspond to the genuine expenses incurred by the bank may be considered an unenforceable punitive damages clause. ConclusionIt is critical to thoroughly assess clauses in a contract to determine if they are punitive damages clauses because such clauses could be unenforceable. Late payment fees and returned check fees are two examples of clauses that can appear to be punitive damages clauses. It is always critical to consider whether the party charged the fee is being compensated for the genuine costs incurred as a result of the breach or if they are being penalized for the breach.
to know more about Punitive Damage visit:
brainly.com/question/13650351
#SPJ11
Taco King hires workers to produce tacos. The market for tacos is perfectly competitive, and tacos sell for $2.50 each. TH The labor market is competitive, and the wage rate is F $75.00 a day. The table shows the workers total product schedule. d E Taco King will hire workers to maximize profit. -U Workers 1 2 3 4 5 6 Tacos per day 10 40 76 106 130 142 Next
Taco King hires workers to produce tacos in a perfectly competitive market. The market price for tacos is $2.50 each, and the wage rate in the labor market is $75.00 a day. To maximize profit, Taco King will hire workers up to the point where the marginal revenue product (MRP) of labor equals the wage rate.
The table shows the total product schedule, which indicates the number of tacos produced per day with different numbers of workers. To determine the marginal product of labor (MPL) and the marginal revenue product of labor (MRP), we need to calculate the change in total product and the change in total revenue.
Given the table, we can calculate the MPL by finding the change in tacos produced when an additional worker is hired. For example, when going from 1 worker to 2 workers, the increase in tacos produced is 30 (40 - 10), so the MPL is 30.
To calculate the MRP, we multiply the MPL by the market price of tacos. For instance, if the MPL is 30, and the market price of tacos is $2.50, then the MRP is $75.00 (30 tacos * $2.50).
Taco King will continue to hire workers as long as the MRP of labor exceeds the wage rate. Once the MRP equals the wage rate, it would not be profitable for Taco King to hire any additional workers.
It's important to note that the table provided does not include the corresponding revenue data, so we can't determine the specific number of workers Taco King will hire to maximize profit based on this information alone.
learn more about "market":- https://brainly.com/question/25369230
#SPJ11
what responsibilities, control, and costs do v2 bear under each of the fob terms offered?
The responsibilities, control, and costs that v2 bear under each of the FOB terms offered: FOB destination and FOB shipping point.
FOB terms stand for Free on Board terms. It is a standard contract used for international trade transactions. FOB is one of the most used types of shipping contracts in the international trade. FOB terms include FOB destination and FOB shipping point.
FOB Destination: In this type of contract, the seller retains the ownership of the goods until they reach the buyer's premises. The responsibilities of the seller include packing and loading the products on the shipping vessel, arranging for transport and shipping of the goods, obtaining all necessary documents required for shipping, and covering the costs of transport.
The responsibility of the buyer includes insuring the products, covering the import fees and tariffs, paying the transport costs, and taking the ownership of the goods once they arrive at the destination.
FOB Shipping Point: This contract puts the responsibility of the goods on the buyer once they leave the seller's premises. The seller has the responsibility of loading the goods on the transport vehicle, obtaining the required documents, and paying the transport costs up to the shipping point. The buyer's responsibility includes the cost of shipping the products from the shipping point, insuring the products, and paying the tariffs and import fees.
FOB terms are negotiable, and it is essential to understand the differences between FOB destination and FOB shipping point to avoid misunderstandings between the seller and buyer.
To learn more about FOB shipping point click here:
https://brainly.com/question/30402140#
#SPJ11
Which element does not appear on the current Form W-4?
A. A signature line
B. A line for entering anticipated weekly earnings
C. A line for "Other Income"
D. A checkbox for circumstances in which an employee has two jobs
The correct option is C. A line for "Other Income" does not appear on the current Form W-4, requiring employees to consider and adjust their withholding based on additional income sources using the instructions or IRS Publication 505.
How does Form W-4 handle "Other Income"?The current version of Form W-4 ,does not include a line for "Other Income, which is used by employees to indicate their federal income tax withholding,
Form W-4 is designed to capture information about an employee's filing status, number of allowances claimed, and any additional withholding requested. It helps employers calculate the amount of federal income tax to withhold from an employee's wages.
While the form provides space for employees to enter information related to multiple jobs or a spouse who also works, it does not specifically include a line for "Other Income." This means that employees are not able to directly input additional income sources, such as rental income or investment earnings, on the Form W-4.
Instead, employees are expected to consider other sources of income when determining the appropriate number of allowances to claim on the form. They can use the instructions provided with the form or consult IRS Publication 505 for guidance on how to account for other income and adjust their withholding accordingly.
It's important for employees to accurately assess their total income from all sources and adjust their withholding accordingly to avoid underpayment or overpayment of taxes throughout the year.
Learn more about Other Income
brainly.com/question/31037547
#SPJ11
Question 1 2 pts A merchant sells an item for $400 and offers credit terms of 1/10, n/30. If the customer decides to pay the invoice within the discount period how much cash will the merchant receive?
If the customer decides to pay after the discount period, they will have to pay the full amount of $400.
Credit terms of 1/10, and n/30 mean that a customer can get a 1% discount on the invoice amount if they pay the invoice within 10 days of the invoice date, otherwise, the full amount is due within 30 days of the invoice date.
The invoice amount is $400. If the customer decides to pay within the discount period, they will get a 1% discount.
This means they will only have to pay 99% of the invoice amount.
To calculate this, you can multiply the invoice amount by 0.99:$400 x 0.99 = $396So if the customer decides to pay within the discount period, the merchant will receive $396 in cash.
If the customer decides to pay after the discount period, they will have to pay the full amount of $400.
For more such questions on discount period
https://brainly.com/question/28414319
#SPJ11
You are the commercial manager of a start-up airline. Among your other duties is to arrange a website (for multiple platforms, PC, mobile etc) for ticket and ancillary sales. Describe the strategy that you will follow in order to make the website follow the below attributes: • digital performance digital presence • digital brand appearance & protection • digital data privacy • online advertising & promotion • e-sales & distribution web customer service
Providing self-help resources, such as FAQs and video tutorials, for customers to use independently.
To ensure the website follows the attributes, here are some strategies that the commercial manager of a start-up airline can follow: Digital Performance: The digital performance of a website is critical for providing a positive user experience. The following are some of the tactics to consider: Optimizing images, videos, and other media for speed and reliability. Minimizing the number of server requests, code, and redirects. Regularly publishing and sharing industry-related articles and blog posts. Utilizing SEO techniques to rank higher in search engine results pages (SERPs). Digital Brand Appearance & Protection: To safeguard the company's brand and reputation, maintaining a consistent digital brand appearance and taking action against infringement is critical. Partnering with travel booking websites to expand distribution. Web Customer Service: To establish a positive reputation and retain customers, web customer service should be taken seriously. Here are some suggestions: Providing a customer support page with a variety of contact options, including email, chat, and phone. Developing and implementing policies and procedures for handling customer complaints and inquiries. Providing self-help resources, such as FAQs and video tutorials, for customers to use independently.
To know more about customer visit:
https://brainly.com/question/31192428
#SPJ11
Which of the following will be excluded from total income? a. Inheritance from your grandfather b. Bonus earned in addition to salaried wages c. Wages earned from your primary employer d. Royalties from the distribution of copyrighted materials
Based on these explanations, the item that would be excluded from total income is Inheritance from your grandfather.
Which of the following will be excluded from total income: inheritance, bonus, wages from primary employer, royalties?To determine which of the following will be excluded from total income, we need to understand the general principles of income taxation:
Inheritance from your grandfather:
Inheritances are generally not considered taxable income for the recipient. Therefore, inheritance from your grandfather would be excluded from total income.
Bonus earned in addition to salaried wages:
Bonuses earned in addition to salaried wages are typically considered taxable income and should be included in the total income.
Wages earned from your primary employer:
Wages earned from your primary employer are considered taxable income and should be included in the total income.
Royalties from the distribution of copyrighted materials:
Royalties earned from the distribution of copyrighted materials are generally considered taxable income and should be included in the total income.
Learn more about total income
brainly.com/question/21121917
#SPJ11