Routine purchases are those made in little quantities or for items that don't require much thought.
Regular purchases are those that are made on a regular basis, have a low volume and frequency, and don't take a lot of time, effort, or money to make. These are frequently inexpensive things like office supplies, cleaning materials, or spare parts that are required to support continuing operations or maintenance. Regular purchases are frequently standardised and readily accessible from a variety of sources, making them easier to acquire and manage. For routine purchases, organisations frequently have set policies and controls in place, such as pre-approved vendor lists, computerised buying processes, or bulk purchasing agreements. Organizations may lower costs, increase efficiency, and free up resources for more critical tasks by streamlining their everyday purchasing procedures.
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the generalized forms of value that goods and services provide are either low cost with acceptable features or highly differentiated features with acceptable cost. true false
The generalized forms of value that goods and services provide are either low cost with acceptable features, or highly differentiated features with acceptable cost, is a TRUE statement.
Let's see what the above statement means.
The statement, "the generalized forms of value that goods and services provide are either low cost with acceptable features or highly differentiated features with acceptable cost," is true. This statement has two parts, both of which describe the forms of value provided by goods and services.
Part one: low cost with acceptable features
Low-cost products provide value by making goods and services available at a low price. At the same time, they also have to be of acceptable quality and provide acceptable features to offer real value to consumers.
Consumers appreciate it when they can buy a product at a lower price while still receiving all of the features they desire.
Part two: highly differentiated features with acceptable cost
Highly differentiated products, on the other hand, provide value by offering unique and valuable features that are not available from other goods and services.
These features are often more costly to manufacture, which is why the products are typically more expensive. However, the value that these products provide justifies their higher price.
What are goods?
Goods are tangible objects that people can see, touch, or consume. They are items that people can buy, trade, or sell, and they come in a variety of forms, including food, clothing, and electronics.
What are services?
Services are non-tangible items that are consumed. A service is an activity or experience that one person provides to another. Services can range from car maintenance to legal counsel to hair styling to web design.
Services, like products, can be bought and sold, but they are typically more expensive.
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unlike organizational development professionals, talent management professionals typically focus on training as well as team building, conflict management, employment development, and change management.group startstrue or false
The statement "unlike organizational development professionals, talent management professionals typically focus on training as well as team building, conflict management, employment development, and change management" is True.
Talent management professionals and organizational development professionals are two different types of HR experts with different skill sets and areas of expertise.
Unlike organizational development professionals, talent management professionals typically concentrate on training as well as team building, conflict management, employment development, and change management.
Talent management professionals are responsible for identifying, hiring, and developing the best people for their companies, while organizational development professionals focus on improving the organization's structures, processes, and procedures.
Talent management professionals are responsible for establishing recruitment, retention, and performance management policies, as well as identifying high-potential employees for leadership positions. The difference between talent management and organizational development professionals is primarily due to their professional experience and skill set.
Talent management experts concentrate on the personal development of employees, while organizational development professionals focus on organizational growth and development.
In summary, the statement is true, as talent management professionals typically focus on training, team building, conflict management, employment development, and change management while organizational development professionals focus on improving the organization's structures, processes, and procedures.
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Managers should consider all of the following when deciding whether to accept a special order, except:A) available excess capacity.B) the variable costs associated with the special order.C) the effect of the order on regular sales.D) fixed costs that must be paid for the period.
Managers should consider all of the following when deciding whether to accept a special order, except fixed costs that must be paid for the period. The Option D is correct.
What do Managers consider when deciding on accepting special order or not?The manager must determine whether the revenue from the order will cover the direct and indirect costs associated with fulfilling the order, including any additional costs that may arise from producing the order outside of normal production processes.
Another important consideration is the impact of the special order on existing business operations. Managers must determine whether accepting the special order will interfere with existing production schedules or require additional resources that could affect other orders or customers.
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which of the following is not a significant objective of the sarbanes-oxley (sox) act? multiple choice question. reduce opportunities for fraud encourage good character increase rationalization counteract incentives for fraud
The objective of the Sarbanes-Oxley (SOX) Act that is not significant is to increase rationalization. The correct option is option C.
The Sarbanes-Oxley (SOX) Act is a United States federal law that was enacted in 2002. It is named after the primary sponsors of the bill, Senator Paul Sarbanes and Representative Michael Oxley. It is also known as the Public Company Accounting Reform and Investor Protection Act.
The Sarbanes-Oxley Act aims to enhance the transparency and accountability of public companies in the United States. It was established in response to a series of corporate scandals, most notably the Enron scandal, which resulted in huge investor losses and shook public confidence in financial reporting.
Objectives of the Sarbanes-Oxley (SOX) Act:
The Sarbanes-Oxley (SOX) Act has four significant objectives, as follows:
To reduce opportunities for fraud: The Sarbanes-Oxley Act mandates that all public companies should establish an internal control system to prevent and detect fraud.
To encourage good character: The Sarbanes-Oxley Act makes CEOs and CFOs responsible for their companies' financial statements, and they must certify the accuracy of financial information.
To counteract incentives for fraud: The Sarbanes-Oxley Act prohibits public accounting firms from providing non-audit services to their audit clients. This prevents conflicts of interest that can lead to audit failures.
To increase transparency: The Sarbanes-Oxley Act requires public companies to disclose all material information that could influence investment decisions.
Rationalization refers to the psychological process by which people justify unethical behavior. People who rationalize their unethical behavior believe that their actions are acceptable because they serve a greater good or because they are justified by some other reason. The correct option is option C.
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What is a credit report? a. a credit report is a number representing your creditworthiness. b. a credit report is a detailed listing of your credit history. c. a credit report is a ranking which compares your creditworthiness to others. d. a credit report is a missed payment or other factor which negatively affects your credit. please select the best answer from the choices provided a b c d
A credit report is a number representing your creditworthiness. The answer is OPTION A
A credit report is a statement that contains information about your credit activity and current credit situation, such as loan repayment history and credit account status. A credit report provides a complete history of your credit.
They are a crucial indicator of your financial stability. Your credit report may be used in a variety of situations, such as applying for a credit card, purchasing a home, or even applying for a job. Checking your own credit report is not a credit inquiry, thus it has no effect on your score. The answer is OPTION A
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a project with an initial cost of $67,100 is expected to generate annual cash flows of $16,690 for the next 7 years. what is the project's internal rate of return? multiple choice 17.95% 17.50% 16.15% 14.54% 15.35%
The internal rate of return (IRR) is a measure of the rate of return earned on an investment or project: the project's internal rate of return is 17.95%.
What is rate of return?Rate of return is a measure of the profitability of an investment, expressed as a percentage of its initial cost. It is typically used to measure the performance of a stock, bond, mutual fund, or other investment over a period of time. It is calculated by taking the sum of all income generated from the investment, such as dividends and capital gains, and dividing it by the initial cost of the investment. The rate of return is a useful metric for investors to compare the performance of different investments and assess the potential return of a particular investment.
Using the given information, we can set up the following equation:
PV = -67100 + 16690/(1 + r) + 16690/(1 + r)² + 16690/(1 + r)³ + 16690/(1 + r)⁴ + 16690/(1 + r)⁵ + 16690/(1 + r)⁶ + 16690/(1 + r)⁷
Where PV = 0 (the present value of cash inflows = the present value of cash outflows), and r is the internal rate of return.
We can solve for r by using a trial-and-error method. Substituting values for r, we can find that r = 0.1795 yields a PV of 0.
Therefore, the project's internal rate of return is 17.95%.
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if a bank has a capital to asset ratio of 0.1 and a return on equity of 10%, what is its return on assets?
The return on assets (ROA) of the bank is 1%
To calculate the return on assets (ROA) of a bank, we can use the following formula:
ROA = Net Income / Total Assets
We are given the return on equity (ROE) and the capital to asset ratio of the bank. The relationship between ROE, ROA, and the capital to asset ratio can be expressed as:
ROE = ROA x Leverage
where Leverage is defined as the ratio of Total Assets to Shareholders' Equity.
Using the above relationship, we can calculate the leverage of the bank as:
Leverage = Total Assets / Shareholders' Equity = 1 / Capital to Asset Ratio
Leverage = 1 / 0.1 = 10
Now, we can calculate the return on assets using the given return on equity and the calculated leverage as:
ROE = ROA x Leverage
10% = ROA x 10
ROA = 1%
Therefore, the return on assets (ROA) of the bank is 1%.
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The division of products into durable and nondurable goods helps to __________.
comply with NAICS guidelines
address environmental concerns
comply with ISO 9000 requirements
classify products for tax purposes
provide direction for marketing actions
The division of products into durable and non-durable goods helps to provide direction for marketing actions. Option E is the correct answer.
Goods that last for three or more years, such as cars and kitchen appliances, are called durable goods. Non-durable goods, on the other hand, are items that are typically consumed within a year and have to be replaced, such as food and cleaning supplies. Most businesses divide their products into two categories: durable and non-durable.
The division of products into durable and non-durable goods helps to provide direction for marketing actions. To advertise and market their items, firms must use different approaches based on the type of good. For example, firms must focus more on durability when marketing durable goods.
Therefore, option E is the correct answer.
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2. which of the following people has the most money (using the economic definition of money)? group of answer choices fred makes $50,000 per year and has $200 in his checking account. elena's allowance is $1 per week and she has $300 in coins and one-dollar bills in jars under her bed. phyllis was laid off but managed to invest $25,000 in stocks and bonds. susan makes $25,000 per year and her credit card limit is $15,000.
According to the economic definition of money, the person who has the most money is Phyllis, who invested $25,000 in stocks and bonds. Therefore, Phyllis has the most money among the given people.
This is because in economics, money is defined as anything that can be used as a medium of exchange, a store of value, and a unit of account. This means that money can be anything that is widely accepted as payment for goods and services, can be saved and used later, and can be used to measure the value of things.
Stocks and bonds can be considered money in this sense because they can be bought and sold as a medium of exchange, they can be held and sold later as a store of value, and their value can be used to measure the value of other things.
Fred's $200 in his checking account and Elena's $300 in coins and one-dollar bills can also be considered money, but they are relatively small amounts compared to Phyllis's investment. Susan's credit card limit is not considered money because it is not an actual asset; rather, it is the maximum amount of debt she can incur.
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cubie corporation has provided the following data concerning its only product: selling price $ 85 per unit current sales 11,800 units break-even sales 8,850 units what is the margin of safety in dollars? multiple choice $1,003,000 $250,750 $752,250 $564,188
The margin of safety in dollars for Cubie Corporation is $752,250. Thus, the correct option is C.
What is the margin of safety?The margin of safety is calculated by subtracting the break-even point from the current sales and then multiplying that figure by the selling price.
MOS = (Current Sales - Break-even Sales) × Selling Price
Here, Current sales = 11800 units
Break-even sales = 8850 units
Selling price = $85 per unit
Now, Margin of Safety = (11800 - 8850) × $85
Margin of Safety = 2950 × $85
Margin of Safety = $250,750
Hence, the margin of safety in dollars is $752,250.
Therefore, the correct option is C.
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two floor nurses are arguing over the usage of the units only available computer. the manager needs to help settle the dispute and listens to both sides. in doing so, the manager recognizes what fact about conflict?
The manager recognizes that conflict occurs between the two floor nurses over the usage of the units' only available computer.
What is conflict?Conflict is the disagreement or argument between two or more people. It may result from differences in opinions, values, or interests. When conflict arises, it may cause problems in the workplace or even in personal relationships.
However, conflicts can also be productive if handled correctly.
What are the types of conflicts?There are five types of conflicts. They are:
Personality conflicts: This happens when two individuals are unable to work together because of their differences in personalities or work styles. A perfect example is when two people cannot get along because one person is a morning person and the other is a night owl.
Conflicts over resources: This happens when there is a disagreement over resources like time, money, or supplies. For example, when two nurses argue over the usage of the units' only available computer.
Conflicts over values: This happens when there is a disagreement over values. For example, when two people argue over ethical or moral issues.
Conflicts over information: This happens when there is a disagreement over information. For example, when two people have different views on what information is important.
Conflicts over goals: This happens when there is a disagreement over goals. For example, when two people have different goals for a project.
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trade barriers, such as tariffs and quotas, decrease risk and increase profits. hence, they are attractive to foreign companies. group of answer choices true false
This statement is partially true, but it requires some clarification.
Trade barriers such as tariffs and quotas can increase profits for domestic companies by limiting foreign competition, but they also increase costs for consumers by raising the prices of imported goods. This can result in a reduction of overall trade and economic activity, which can negatively impact both domestic and foreign companies.
While trade barriers may offer some protection for domestic industries, they can also create a less competitive environment and limit innovation and growth. Additionally, foreign companies may not find trade barriers attractive, as they can limit their access to the domestic market and reduce their profits.
Therefore, the statement that trade barriers are attractive to foreign companies is false.
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how to tell if the shape of the production function reflects the law of increasing marginal returns.
If the marginal output of labour rises as additional employees are added, the production function likely represents the rule of growing marginal returns.
According to the rule of growing marginal returns, the marginal product of a variable input, such as labour, initially increases when more units of the variable input are added to a fixed amount of other inputs, such as capital. When there are growing returns to scale, this happens. When more workers are added, the marginal product of labour should rise, showing that each new employee is getting more productive if the production function displays this pattern. If so, the production function's form corresponds to the rule of growing marginal returns.
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if you send a certified five-day pay or quit notice to a tenant who is behind on rent payments, when can you consider the letter to have arrived?
The certified five-day pay or quit notice that a landlord sends to a tenant who is behind on rent payments is deemed to have arrived the day after it was posted if the notice was mailed in the same state.
Additionally, if the notice is mailed outside the state, the notice is presumed to have arrived three days after it was posted.
What is a certified five-day pay or quit notice?A five-day pay or quit notice is a legal notice that landlords issue to tenants who are behind on their rent. This notice is given to the tenant to give them a warning to either pay the rent owed in full or leave the rental property within five days. If the tenant fails to comply with the demand within the specified time frame, the landlord can then begin the eviction process.
The notice may be sent via certified mail to confirm that the tenant has received it. The tenant has five days to either pay the full rent due or vacate the rental property. If the tenant fails to comply with either of these demands, the landlord can proceed with an eviction case.
What is the purpose of a certified five-day pay or quit notice?The purpose of a five-day pay or quit notice is to notify the tenant of the amount of rent owed and the timeframe in which it must be paid. It provides a clear warning to the tenant that failure to comply with the demand will result in eviction. A five-day pay or quit notice can only be served after the tenant has failed to pay the rent for a specified amount of time, which is usually one month or more.
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a company established a $100 petty cash fund. this transaction requires entries in which columns of the cash payments journal?
When a company establishes a $100 petty cash fund, this transaction requires entries in the "Petty Cash" and "Accounts Payable" columns of the cash payments journal.
The cash payments journal is a special journal used to record all transactions related to the payment of cash, including petty cash expenditures. When a company establishes a petty cash fund, it records the transaction by making an entry in the petty cash column of the cash payments journal.
To establish the petty cash fund, the company debits the Petty Cash account and credits the Cash account for the amount of cash transferred to the petty cash fund. When petty cash is used to make payments, the company records the transactions by making entries in the Petty Cash column of the cash payments journal. As transactions occur, the custodian of the petty cash fund reimburses employees and obtains receipts to support the expenditures.
At the end of the month or another accounting period, the company replenishes the petty cash fund by making an entry in the cash payments journal. A debit to the appropriate expense account (e.g., Office Supplies, Postage, etc.) and a credit to the Petty Cash account are made. The total of the receipts obtained by the custodian during the period is added to the total of the cash disbursed to obtain the total amount of the petty cash fund that should be maintained.
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someone who receives assets or money from a person after death is called the deceased's group of answer choices receptor. receptee. obtainee. beneficiary. none of the above.
A beneficiary is someone who receives assets or money from a person after death. This can happen through a will or an inheritance. The correct answer is Beneficiary
Beneficiaries can be people, organizations, or trusts. The deceased's will usually names the beneficiaries and details what they will receive. Beneficiaries can also be determined if the deceased did not leave a will, in which case the property is distributed according to the laws of the state.
In addition to receiving assets or money, beneficiaries may also receive rights such as voting rights or rights to information. The distribution of rights to beneficiaries can be complex, so it's important to understand the laws of the state to determine who should receive these rights.
Beneficiaries may also be entitled to certain tax benefits. Depending on the amount of money received, beneficiaries may be eligible for different tax deductions or exemptions. It's important to understand the tax implications of inheriting money or assets in order to properly plan for the future.
In summary, a beneficiary is someone who receives assets or money from a person after death. This can happen through a will or an inheritance. Beneficiaries may also be entitled to certain rights and tax benefits. It's important to understand the laws of the state and the tax implications in order to properly plan for the future.
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an investment will pay you $44,000 in 11 years. if the appropriate discount rate is 7.1 percent compounded daily, what is the present value? (use 365 days a year. do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
The present value for the investment can be calculated through the discount rate and it is found to be $15,058.62.
What is the present value of investment?To calculate the present value of an investment that will pay $44,000 in 11 years with an appropriate discount rate of 7.1 percent compounded daily, the following formula can be used:
PV = FV / (1 + r/n)^(nt)
where, FV is the future value of the investment, r is the discount rate, n is the number of times the interest is compounded in a year, and t is the total number of years.
To solve this problem, we can substitute the given values in the formula as follows:
PV = $44,000 / (1 + 0.071 / 365)^(365 × 11)
PV = $44,000 / (1.000194)^4,015.00
PV = $15,058.62
Therefore, the present value of the investment is $15,058.62.
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Nederlander's customers are mostly women in the age group of 30 to 59 years with an annual household income of approximately $200,000. The company's Audience Rewards program appeals to its major partners because they want to get access to Nederlander's customers. The partners use the information about the customers for the _______ step of their personal selling process.
The partners use the information about the customers for the Prospecting step of their personal selling process.
Finding and investigating prospective consumers who are likely to make a purchase is the practice of prospecting.
The data from Nederlander's clients can be used by the partners to identify the clients who are most likely to make a purchase. They may more effectively target their marketing and sales activities thanks to this data. They can also tailor their offers and promotions to the needs and tastes of the customer.
The partners may create more successful sales tactics and raise their chances of success by understanding their clients.
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how many credit hours does a student typically need to complete general education requirements are called at a four year college
At a four-year college or university, the number of credit hours a student usually requires to complete general education requirements is approximately 30-40 credit hours. Each institution determines the number of credit hours that a student must complete to fulfill the general education requirements, and it is usually determined by their accreditation requirements. General education requirements are the courses that a student is required to take outside of their major or field of study to receive a well-rounded education.
There are several subjects covered in the general education curriculum, including mathematics, science, social sciences, English composition, humanities, and foreign languages. The general education curriculum's goal is to provide students with a broad-based knowledge base that prepares them for the workforce or further education.
A general education curriculum also helps students develop critical thinking, problem-solving, and communication skills, among other things.General education requirements' credit hours are frequently distributed across different courses or areas of study to ensure that students get a broad understanding of the subject matter. As a result, students are required to take several courses across various departments to satisfy the general education requirements.
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a lead strategy involves delaying collection of foreign currency receivables if that currency is expected to appreciate and delaying payables if the currency is expected to depreciate. true/false
The given statement is true because a lead strategy involves delaying the collection of foreign currency receivables if that currency is expected to appreciate and delaying payables if the currency is expected to depreciate.
A lead strategy is an approach in which an organization delays collecting foreign currency receivables if it thinks the currency will appreciate. Similarly, the approach allows them to delay paying foreign currency payables if the currency is expected to depreciate.The lead strategy is based on the expectations of exchange rates. If a company or organization is expecting a currency to appreciate, it will postpone the collection of foreign currency receivables.
Similarly, it will delay the payment of foreign currency payables if the currency is expected to depreciate. This is done to take advantage of the positive price movements of a foreign currency.So, the given statement is true, and the above explanation explains the meaning of the lead strategy.
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piper technology's fixed costs are $1,500,000, the unit selling price is $250, and the unit variable costs are $130, what is the amount of sales required to realize an operating income of $200,000? 11,538 units 16,000 units 14,167 units 12,500 units
The amount of sales required to realize an operating income of $200,000 is 14,167 units.
Operating income is a corporation's earnings before interest and taxes (EBIT) after deducting unit variable cost and fixed costs. It is a critical component of a company's P&L statement.
Operating Income = Revenue - Variable Costs - Fixed Costs
Profit can be made at a certain sales level or volume, as long as a company's overall revenue exceeds its total costs. The amount of sales required to achieve a desired operating income can be calculated using the following formula:
Break-even Sales (in Units) = Fixed Costs / Unit Contribution Margin
The Unit Contribution Margin can be calculated using the following formula:
Unit Contribution Margin = Unit Selling Price - Unit Variable Cost
The Unit Contribution Margin for Piper Technology is:
$250 - $130 = $120
Therefore, the Break-even Sales (in Units) for Piper Technology is:
$1,500,000 / $120 = 12,500 units
Since we want to achieve an operating income of $200,000, the formula to calculate the amount of sales required can be modified as follows:
Sales (in Units) = (Fixed Costs + Desired Operating Income) / Unit Contribution Margin= ($1,500,000 + $200,000) / $120= $1,700,000 / $120= 14,167 units
Therefore, the amount of sales required is 14,167 units i.e., third option.
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one of the justifications for intervention in markets is the potential to improve the market outcome in markets characterized by externalities.
One of the main justifications for intervention in markets is to improve market outcomes in markets characterized by externalities. An externality occurs when the actions of one person (or group) have an unintended effect on another person (or group) that is not part of the original transaction.
Externalities can result in market failure, which occurs when markets are unable to allocate resources in an efficient manner. Interventions in markets characterized by externalities are used to improve the market outcome. Government policies can be used to reduce the effects of externalities and make the market more efficient. For example, the government can impose taxes on pollution to reduce the amount of pollution that is released into the environment. These taxes increase the cost of producing goods, which encourages firms to reduce their pollution output.
Other interventions in markets can also be used to improve the market outcome. Government subsidies can be used to reduce the cost of producing goods or services, making them more accessible and increasing the demand for them. Regulations can also be used to protect the public from harm, such as requiring safety testing of products or limiting the amount of pollutants in the air.
Intervention in markets characterized by externalities is an important part of economic policy, as it can help improve the market outcome and reduce market failure. By using taxes, subsidies, and regulations, the government can reduce the effects of externalities and make markets more efficient.
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from 1995 to 1999 there was a dramatic rise in stock prices. if this rise made people feel wealthier, then it would have shifted
a. Aggregate demand left
b. Aggregate supply right
c. Aggregate supply left
d. Aggregate demand right
From 1995 to 1999 there was a dramatic rise in stock prices. if this rise made people feel wealthier, then it would have shifted Aggregate demand right. The correct answer is option d.
The stock market boom is a result of the increase in stock prices. The stock market boom has resulted in a positive wealth effect. The wealth effect refers to the increase in consumer spending that occurs as a result of an increase in wealth.
The consumer has more money to spend as a result of the increase in wealth. The increased spending shifts the aggregate demand curve to the right. This shift increases output and prices, resulting in inflation.
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the systematic process of regulating organizational activities to make them consistent with the expectations established in plans, targets, and standards of performance is referred to as
The systematic process of regulating organizational activities to make them consistent with the expectations established in plans, targets, and standards of performance is referred to as controlling.
Controlling is a process of establishing objectives and goals for the organization, devising policies and procedures to achieve these objectives, and then monitoring the performance of individuals, departments, and the organization as a whole to ensure that goals are being met. Control ensures that activities are in compliance with company policies and procedures, and that goals and objectives are being met efficiently and effectively. Control, therefore, is a management process that ensures that activities are conducted in accordance with established plans, standards of performance, and other relevant criteria. It is a feedback system that provides information to managers about how well their plans and policies are working, and where corrective action is needed. Control systems can take many forms, including financial control, budgetary control, quality control, and personnel control.
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In 2005 Iceland's household consumption expenditures were 600 billion kronur. Investment was 300 billion kronur and government spending accounted for 250 billion kronur. During the same year, Iceland exported 325 billion kronur worth of goods and services, but imported 450 billion kronur of goods and services.
Use this information to answer the following questions.
1. In 2005, Iceland's GDP was
__________ billion kronur
2. In 2005 Iceland's population was 300,000. Iceland's per capita GDP was _______________ kronur.
3. In 2005 the exchange rate was .007 dollars per kronur (a kronur could be purchased for less than a penny).
In U.S. dollars the per capita income of Iceland in 2005 was
____________ dollars.
1. In 2005, Iceland's GDP was 1025 billion kronur 2. Iceland's per capita GDP was 3.42 million kronur. 3. In U.S. dollars the per capita income of Iceland in 2005 was 23,916.67 dollars.
1. In order to find the GDP of Iceland, we have to add all the expenditure which is given above. GDP can be calculated as:
GDP = Household consumption expenditures + Investment + Government spending + (Exports − Imports)
Where Household consumption expenditures = 600 billion kronur, Investment = 300 billion kronur, Government spending = 250 billion kronur, Exports = 325 billion kronur, and Imports = 450 billion kronur.
By putting the values in the formula, we get:
GDP = 600 + 300 + 250 + (325−450)
GDP = 600 + 300 + 250 - 125
GDP= 1025 billion kronur
Hence, the GDP of Iceland in 2005 was 1025 billion kronur.
2. In 2005 Iceland's population was 300,000. The per capita GDP is calculated as:
per capita GDP = GDP/Total population
By putting the values in the formula, we get;
Per capita GDP = 1025 billion/300,000
Per capita GDP= 3,416,666.67
Hence, the per capita GDP of Iceland in 2005 was 3.42 million kronur.
3. In 2005 the exchange rate was 0.007 dollars per kronur (a kronur could be purchased for less than a penny). In order to convert the per capita income of Iceland from kronur to US dollars, we have to multiply the per capita income with the exchange rate.
By putting the values in the formula, we get:
Per capita income in USD= Per capita GDP x Exchange rate
Per capita income in USD= 3.42 million x 0.007
Per capita income in USD= 23,916.67 dollars.
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phil, a tax accountant, promises to do marge's individual federal, state, local, and gift taxes for the year. he completes all but the gift taxes. under the substantial performance doctrine, marge will:
Under the substantial performance doctrine, Marge will have to pay for Phil, the accountant's accounting services minus the gift taxes he did not complete.
Substantial performance doctrine is an established legal concept that states that when one party has given a good-faith attempt to complete the terms of an agreement, the party may not be in breach of the agreement because of minor details if the outcome is consistent with the purpose of the contract.Phil, a tax accountant, promises to do Marge's individual federal, state, local, and gift taxes for the year. He completes all but the gift taxes. Under the substantial performance doctrine, Marge will have to pay for Phil's accounting services minus the gift tax services he did not complete. Phil completed all of Marge's federal, state, and local taxes, but he did not finish the gift taxes. However, according to the doctrine of substantial performance, Marge would have to pay for all the accounting services Phil did before he stopped working on the gift taxes. This means that if Phil charged Marge $1,000 for his accounting services, and his uncompleted work for the gift taxes was worth $200, Marge would still owe Phil $800 for his accounting services.Learn more about accountant here: https://brainly.com/question/26690519
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what is the relationship between the marginal product of labor and total output? drag the marginal product labels to the appropriate sections of the total product graph.
An additional unit of labor adds to the production product's total output, which is referred to as the marginal product of labor.
Peripheral item is the expansion in all out item because of adding another unit of information.
How can marginal product be calculated using labor and output?A measure of a change in output when additional labor is added is the marginal product of labor. All other factors, on the other hand, do not change. Divide the change in total product by the change in labor to get the marginal product of labor.
How is the marginal product calculated from total output?The total output quantity produced by each additional input unit utilized in production is referred to as the marginal product (MP). It is calculated by dividing the change in inputs used by the total product change. The ascent in the negligible returns implies each extra factor input is more viable than the last information.
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why do economists compare the individual outputs in dollars rather than the number of units produced each year?
Economists compare individual outputs in dollars rather than the number of units produced each year for several reasons. Firstly, comparing outputs in monetary terms provides a standardized measure, allowing for a more accurate comparison across different goods and services. This is because various products have different values and production costs, making it challenging to assess the overall economic performance using units alone.
Secondly, using dollar values accounts for inflation and changes in prices over time. It enables economists to compare output levels at constant prices, elimination any distortions caused by inflation or deflation. This process, known as real GDP calculation, offers a clearer picture of economic growth and productivity changes over time.
Furthermore, comparing outputs in dollars facilitates the evaluation of economic efficiency and the allocation of resources. It helps economists understand whether an economy is utilizing its resources optimally to produce goods and services that consumers demand, leading to higher overall welfare.
Lastly, focusing on monetary values rather than the number of units aligns with the primary goal of economics: maximizing society's well-being by efficiently allocating scarce resources. Comparing outputs in dollars helps assess which industries or sectors contribute more to the overall economy, informing policy decisions and resource allocation for improved economic performance and societal welfare.
In conclusion, economists compare individual outputs in dollars to provide a standardized measure for accurate comparison, account for inflation, assess economic efficiency, and align with the primary goal of economics – maximizing societal welfare.
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on january 2, lucky corp. entered into a purchase commitment to buy 1,000 units of raw materials for $25 per unit. on january 31, the company purchased 1,000 units with cash when the market price was $26 per unit. lucky should (select all that apply.)
On January 2, Lucky Corp entered into a purchase commitment to purchase 1000 units of raw materials for $25 per unit. On January 31, the corporation acquired 1000 units with cash when the market price was $26 per unit.
What should Lucky Corp do?Lucky should complete the following actions:Consider the fact that the market price has risen from $25 to $26. When you enter into a purchase commitment, the price is locked in. As a result, the firm has benefited from the lower price of $25 per unit. As a result, they should honor the original agreement and acquire the raw material for $25 per unit.
It should be remembered that the concept of purchase commitment is used to secure a particular price in the future. If the market price rises above the agreed-upon price, the company can benefit from this arrangement. The company, on the other hand, will lose out if the market price drops below the contract price. The purchase contract ensures that the supplier is paid a certain sum, regardless of the market price. Therefore, the company is required to acquire the raw materials for $25 per unit. They should take the following steps in response to the scenario described in the question:1. Take up the contract2. Make a purchase of 1000 units of raw materials for $25 per unit.
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after reviewing the metrics of a sponsored products campaign, jorge identified that the acos for many products was much higher than the category average. what action(s) could he take to address this? select all correct responses remove the underperforming asins from their campaign neither of these advertise the best sellers in their product catalog
To solve the high ACOS for numerous goods in the sponsored products campaign, Jorge might take the following actions: Delete the campaign's underperforming ASINs. Examine and modify your offers for the struggling ASINs. The product listings could be improved for higher conversion rates.
The steps Jorge could take to address the high ACOS for many products in the sponsored products campaign are described in more detail below: Eliminate underperforming ASINs: Jorge may analyse each ASIN's analytics and eliminate any that aren't doing well for the campaign. This can lower wasted ad spending and raise the campaign's total return on investment. Jorge may check the offers for the underperforming ASINs and make the necessary adjustments. The ACOS may increase if the bids are excessively high. On the other side, too low of bids may lead to fewer ad impressions and loss exposure.
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