True. Between 1933-1934, the United States implemented gold confiscation and revalued the dollar in terms of gold from $20.67 to $35 per ounce.
This was done to strengthen the value of the dollar by increasing its supply, which in turn aimed to stimulate economic growth during the Great Depression.
Before the Gold Reserve Act, the US dollar was backed by gold, and the price of gold was fixed at $20.67 per ounce. However, during the Great Depression, there was a significant reduction in the demand for goods and services, leading to a deflationary spiral.
To combat this, the US government decided to increase the money supply by revaluing gold to $35 per ounce and confiscating gold from US citizens. By revaluing gold, the government increased the value of the dollar in terms of gold, which in turn led to an increase in the supply of dollars.
The purpose of this measure was to stimulate economic growth by increasing the money supply, which would make it easier for businesses and individuals to borrow money and invest in new projects.
By increasing investment, the government hoped to create jobs and increase economic activity. The revaluation of gold was also seen as a way to combat the deflationary pressures that were causing the economy to contract.
In summary, the statement is true. The United States implemented gold confiscation and revalued the dollar in terms of gold from $20.67 to $35 per ounce between 1933-1934 to stimulate economic growth during the Great Depression.
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fill in the blank. _____ is an approach used by employers large enough to assume financial responsibility for the health care costs of workers self-insurance
Self-insurance is an approach used by employers large enough to assume financial responsibility for the health care costs of workers.
What is the significance of self-insurance?
Under self-insurance, employers set aside funds to cover the healthcare costs of their employees, rather than paying premiums to an insurance company to provide coverage. This approach is typically used by larger companies, as they have the financial resources to absorb the risk of healthcare costs and the administrative infrastructure to manage the program.
Self-insurance allows employers to have more control over their healthcare costs and to tailor their benefits packages to the specific needs of their employees. It also allows them to avoid the premiums and administrative fees associated with traditional insurance plans, which can be significant.
However, self-insurance also comes with some risks. If healthcare costs exceed the amount set aside by the employer, they will have to pay the additional costs out of pocket. To mitigate this risk, many self-insured employers purchase stop-loss insurance, which limits their liability for high-cost claims.
Overall, self-insurance can be a cost-effective approach to providing healthcare coverage for employees, but it requires careful planning and risk management to be successful.
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________, a values-based business, states that its goal is to "find new measures of success that do not depend on selling an ever increasing number of goods and services." Ben & Jerry's Patagonia The Body Shop Zappo's
Patagonia is a values-based business that is committed to finding new measures of success that do not rely on selling more goods and services.
Instead of making disposable goods, they favour the production of high-quality, long-lasting products. This indicates that Patagonia places a priority on producing durable goods so that buyers will need to buy fewer things over time.
Additionally, Patagonia adheres to a strict environmental policy that forbids the use of potentially harmful chemicals, recycles materials, and reduces emissions.
They are committed to investing in initiatives that help the health of the environment and work closely with consumers and suppliers to guarantee that their products are created in a fair and sustainable manner.
Additionally, Patagonia donates 1% of every sale to organisations that support the environment. This dedication to sustainability, fairness, and the environment distinguishes Patagonia as a values-based company.
Complete Question:
________ a values-based business, states that its goal is to "find new measures of success that do not depend on selling an ever increasing number of goods and services.
A. Ben & Jerry's
B. Patagonia
C. The Body Shop
D. Zappo's
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Two players are engaged in a game of Chicken. There are two possible strategies, Swerve and Drive Straight. A player who chooses to Swerve is called Chicken and gets a payoff of zero, regardless of what the other player does. A player who chooses to Drive Straight gets a payoff of 432 if the other player swerves and a payoff of −48 if the other player also chooses to Drive Straight. This game has two pure strategy equilibria and
Show work please
The game of Chicken can be represented in a matrix form called a payoff matrix, where the rows represent the strategy of one player and the columns represent the strategy of the other player.
The entries in the matrix represent the payoffs to each player for each possible combination of strategies. To find the pure strategy equilibria of the game, we need to identify the strategies for each player that are best responses to the other player's strategy. A strategy is a best response if it yields the highest possible payoff given the other player's strategy.
Starting with player 1 (the row player), we can see that if player 2 chooses Swerve, player 1's best response is to choose Drive Straight (which gives a payoff of 432). If player 2 chooses Drive Straight, player 1's best response is to choose Swerve (which gives a payoff of 0). Therefore, player 1 has a pure strategy equilibrium at (Drive Straight, Swerve).
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QUESTION: Two players are engaged in a game of Chicken. There are two possible strategies, Swerve and Drive Straight. A player who chooses to Swerve is called Chicken and gets a payoff of zero, regardless of what the other player does. A player who chooses to Drive Straight gets a payoff of 32 if the other player swerves and a payoff of 48 if the other player also chooses to Drive Straight. This game has two pure strategy equilibria and- a. a mixed strategy equilibrium in which each player swerves with probability 60 and drives straight with probability 40. b. two mixed strategies in which players alternate between swerving and driving straight.. c.. a mixed strategy equilibrium in which one player swerves with probability.60 and the other swerves with probability 40. d. a mixed strategy in which each player swerves with probability 30 and drives straight with probability .70. . e.. no mixed strategies..
the economic philosopher that argued that economic innovation comes from allowing the business cycle to work itself out without government intervention so as to allow more productive business to emerge was?
The economic philosopher who argued that economic innovation comes from allowing the business cycle to work itself out without government intervention, so as to allow more productive businesses to emerge, was Joseph Schumpeter.
Joseph Schumpeter (1883-1950) was an Austrian economist and political scientist who is best known for his theories on business cycles and the concept of "creative destruction." Schumpeter believed that the economy goes through a natural cycle of ups and downs, and that government interference in the economy could potentially hinder the process of creative destruction.
Creative destruction, according to Schumpeter, is the process through which old, less efficient businesses and industries are destroyed to make way for newer, more efficient, and innovative ones. This process is the driving force behind economic growth and development. Schumpeter argued that by allowing the business cycle to work itself out without government intervention, society could benefit from the rise of more productive businesses.
In essence, Schumpeter believed that economic innovation is the result of the constant competition between businesses, where new and innovative ideas drive economic progress. When the government intervenes in the economy, it may artificially prop up inefficient businesses and industries, slowing down the process of creative destruction and ultimately hampering economic growth.
To sum up, Joseph Schumpeter, as an economic philosopher, maintained that allowing the business cycle to work itself out without government intervention is crucial for fostering economic innovation and promoting the emergence of more productive businesses. This process of creative destruction is essential for driving economic growth and development.
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an investor owns a $3,000 par-value 12% bond with semiannual coupons. the bond will mature at par at the end of fourteen years. the investor decides that a ten-year bond would be preferable. current yield rates are 6% convertible semiannually. the investor uses the proceeds from the sale of the 12% bond to purchase an 8% bond with semiannual coupons, maturing at par at the end of ten years. find the face value of the 8% bond.
The face value of the 8% bond is $4,482.58. The investor sold the 12% bond for $3,405.82.
To solve this problem, we need to find the price at which the investor can sell the 12% bond and use the proceeds to purchase the 8% bond. Then, we can use the price of the 8% bond to determine its face value.
First, we need to calculate the price at which the 12% bond can be sold. We can use the following formula to calculate the price of a bond
Price = (C / r) x (1 - 1 / (1 + r)ⁿ) + F / (1 + r)ⁿ
Where
C = Coupon payment
r = Interest rate per period
n = Number of periods
F = Face value
In this case, C = $180 (12% of $3,000), r = 3% (6% annual yield divided by 2 since the coupons are semiannual), n = 28 (14 years x 2 semiannual periods per year), and F = $3,000. Plugging these values into the formula, we get
Price = ($180 / 0.03) x (1 - 1 / 1.03²⁸) + $3,000 / 1.03^28
Price = $3,405.82
So, the investor can sell the 12% bond for $3,405.82.
Next, we need to find the face value of the 8% bond. We know that the investor can use the proceeds from the sale of the 12% bond to purchase the 8% bond, and that the 8% bond will mature at par at the end of ten years. We also know that the current yield rates are 6% convertible semiannually. Using the same formula as before, we can solve for the price of the 8% bond
Price = ($80 / 0.03) x (1 - 1 / 1.03²⁰) + F / 1.03²⁰
Where
C = $80 (8% of face value)
r = 3% (6% annual yield divided by 2 since the coupons are semiannual)
n = 20 (10 years x 2 semiannual periods per year)
F = Face value (unknown)
Since we want the price to equal the proceeds from the sale of the 12% bond, we can set Price = $3,405.82 and solve for F
$3,405.82 = ($80 / 0.03) x (1 - 1 / 1.03²⁰) + F / 1.03²⁰
F = $4,482.58
Therefore, the face value of the 8% bond is $4,482.58.
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In the job characteristics model, task identity is defined as the extent of individual freedom and discretion in the work and its scheduling.TrueFalse
False. Task Identity is one of the basic job qualities in JCM. When a worker completes a complete and recognizable task, this is called the task ID.
Essentially, task identification occurs when employees are able to complete the entire task instead of focusing on a small portion of the task.
The Job Characteristics Model (JCM) is a theory that focuses on five basic job qualities that are essential for an individual to succeed in a position. JCM was originally developed by Richard Hackman and Greg Oldham for their book Work Redesign.
According to the JCM, employee motivation declines in occupations they find uninteresting or uninspiring, but thrives in challenging and stimulating tasks. Job trait models help HR managers and employees improve the work environment for their colleagues and employees. With JCM, employees can personalize and empower their work, improving work quality, morale and productivity.
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can be deterred by strong entry barriers. a. the bargaining power of suppliers b. existing rivals or competitors c. potential new competitors in the market o d. the bargaining power of buyers e. the threat of substitute products or services
The correct option is (c) potential new competitors in the market. Strong entry barriers can deter potential new competitors in the market .
Entry barriers are obstacles that make it difficult for new firms to enter a particular industry. These barriers can include high start-up costs, economies of scale, access to distribution channels, and strong brand recognition of existing companies.
When entry barriers are strong, it becomes challenging for new competitors to enter the market, thus limiting the competitive pressure faced by existing firms. This reduction in competitive pressure can positively impact (a) the bargaining power of suppliers and (d) the bargaining power of buyers. Suppliers may have fewer customers to choose from, which increases their bargaining power, while buyers may have fewer alternatives, which decreases their bargaining power.
However, strong entry barriers don't have a direct impact on (e) the threat of substitute products or services . Substitute products or services refer to alternative options that customers can choose from when the original product or service isn't available or doesn't meet their needs. The availability of substitute products depends more on technological advancements, consumer preferences, and innovations in the industry rather than entry barriers.
In summary, strong entry barriers can deter (c) potential new competitors in the market, indirectly influencing the bargaining power of suppliers and buyers, but have limited direct impact on existing rivals, and no direct impact on the threat of substitute products or services.
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You are in the process of identifying stakeholders that you want support from on your project. You have already identified some stakeholders using the key stakeholder list. What additional source of information can be used to help identify stakeholders?AnswersA. Stakeholder engagement planB. Project charterC. Milestone listD. Issue log
A. Stakeholder engagement plan is an additional source of information that can be used to help identify stakeholders.
The stakeholder engagement plan outlines the strategies for engaging stakeholders and the roles and responsibilities of each stakeholder. It also includes the communication plan, which specifies the methods and frequency of communication with stakeholders.
By reviewing the stakeholder engagement plan, you can identify stakeholders who may have a significant impact on the project or who may be affected by the project but have not yet been identified on the key stakeholder list.
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Process of identifying stakeholders that you want support from on your project. You have already identified some stakeholders using the key stakeholder list. The correct answer is A. Stakeholder engagement plan.
A. A further source of information that can be utilised to identify stakeholders is the stakeholder engagement plan. The stakeholder engagement plan outlines the methods for including stakeholders as well as the obligations of each. The communication plan, which outlines the channels and timing of communications with stakeholders, is also included.You can identify stakeholders who might significantly affect the project or who might be impacted by the project but have not yet been identified on the key stakeholder list by examining the stakeholder engagement plan.
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What types of job applicants do private employment agencies tend not to serve?
Professional workers
Skilled workers
Managerial workers
Non-skilled workers
Private employment agencies tend not to serve: non-skilled workers as extensively. The correct option is D.
Private employment agencies generally focus on connecting employers with job seekers who have specialized skills, education, or experience. Therefore, they tend to serve professional, skilled, and managerial workers more effectively, as these candidates often possess in-demand qualifications.
In contrast, private employment agencies tend not to serve non-skilled workers as extensively. This is because non-skilled workers typically have fewer specialized skills, training, or qualifications, which makes them less attractive to employers seeking specific expertise.
Moreover, the demand for non-skilled labor may be more easily met through other channels, such as public employment agencies or informal networks.
To summarize, private employment agencies tend to focus on serving professional, skilled, and managerial workers, while they are less likely to serve non-skilled workers due to their limited specialized skills and the availability of alternative sources for filling such positions.
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Complete question:
What types of job applicants do private employment agencies tend not to serve?
a. Professional workers
b. Skilled workers
c. Managerial workers
d. Non-skilled workers
inventory isn't free to carry. examples?
Inventory is not free to carry because it incurs several costs that can impact a business's profitability.
Storage costs: A business must pay for the physical space to store its inventory, whether it's in a warehouse, stockroom, or on shelves in a store. This can include rent, utilities, and other associated costs.
Insurance costs: A business must insure its inventory against theft, damage, or loss. This can be a significant cost, particularly for high-value or perishable goods.
Obsolescence costs: If inventory becomes outdated, obsolete, or unsellable, it can result in significant losses for a business. This can be particularly true for industries with fast-changing trends or technology.
Opportunity costs: The capital tied up in inventory is not available for other uses, such as investing in new products, marketing, or expansion. This can limit a business's growth potential and profitability.
Handling costs: A business must pay for the labor and equipment required to handle and move inventory, including packing, shipping, and receiving. This can be a significant cost, particularly for businesses with large or heavy items.
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The _______________ GATT round became famous for creating the World Trade Organization and for institutionalizing what would become a set of global trade rules and regulations.
The Uruguay GATT round became famous for creating the World Trade Organization (WTO) and for institutionalizing what would become a set of global trade rules and regulations.
This round was conducted between 1986 and 1994, and it was a critical turning point in the history of international trade. The Uruguay round was focused on reducing trade barriers and liberalizing global trade, which helped to boost economic growth and prosperity around the world. During this round, the member countries agreed to a number of new agreements, including the Agreement on Agriculture, the Agreement on the Application of Sanitary and Phytosanitary Measures, and the Agreement on Technical Barriers to Trade.
These agreements helped to create a more level playing field for businesses and to ensure that trade was conducted fairly and transparently. Overall, the Uruguay GATT round and the subsequent creation of the WTO have had a profound impact on the global economy, helping to facilitate trade and increase prosperity for people all around the world.
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Walmart's core competency is efficient distribution.T/F
Walmart's core competency is its highly efficient and sophisticated distribution system. The company has developed a supply chain management system that is considered a model for other companies to follow. Given Statement is true.
Walmart's core competency is widely recognized as its highly efficient distribution system. The company is known for its ability to move products from suppliers to its stores quickly and at a low cost, which has enabled it to keep prices low and remain competitive in the retail industry. Walmart has invested heavily in its distribution capabilities, including building an extensive network of warehouses and transportation infrastructure. The company's use of technology, such as inventory management systems and data analytics, has also contributed to its efficient distribution processes.
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Select all that apply
Decision making ______.
is another term for planning
uses feedback from other managerial processes
requires up-to-date information
relies primarily on financial accounting information
Decision making is a crucial aspect of managerial processes, and it involves various steps that are undertaken by managers to arrive at an appropriate decision.
Firstly, decision making is not another term for planning; rather, it is a process that follows planning. Planning sets the objectives and outlines the course of action, whereas decision making involves selecting the best course of action from the available alternatives to achieve those objectives. Secondly, decision making involves feedback from other managerial processes. Managers should gather relevant data and feedback from various sources to analyze the potential outcomes of each option. This feedback could come from employees, market trends, past performance, and customer feedback, among others. Thirdly, decision making requires up-to-date information to ensure that the decision is relevant to the current situation. This information includes data on market trends, customer preferences, and competitor analysis, among others. Without up-to-date information, the decision may be irrelevant or even harmful to the organization. Lastly, while financial accounting information is an essential component of decision making, it should not be the sole factor relied upon. Other factors such as marketing, human resources, and operations should also be considered to arrive at a well-informed decision. Therefore, decision making does not rely primarily on financial accounting information.
In summary, decision making is a critical process that requires up-to-date information, feedback from other managerial processes, and consideration of various factors to arrive at the best course of action.
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The arguments for restricting trade Suppose there is a policy debate regarding the United States' imposing trade restrictions on imported ball bearings. Read the following scenario and answer the question that follows. The president of the United States argues that the United States should threaten to impose a tariff on Chinese ball bearings in order to induce the Chinese to remove its tariff on American cars. Which of the following justifications is the president using to argue for the trade restriction on ball bearings? a. Unfair-competition argument b. Using-protection-as-a-bargaining-chip argument c. National-security argument d. Jobs argument e. Infant-industry argument
The president is using the "Using-protection-as-a-bargaining-chip argument" to argue for the trade restriction on ball bearings.
This argument suggests that trade restrictions can be used as a negotiating tactic to persuade another country to change its trade policies in favor of the United States. In this case, the president is proposing to threaten to impose a tariff on Chinese ball bearings in order to induce China to remove its tariff on American cars. The argument is not based on any of the other justifications, such as unfair-competition, national-security, jobs, or infant-industry arguments.Unfair-competition argument: This argument suggests that foreign producers are engaging in unfair trade practices, such as dumping or subsidizing their products, which can harm domestic industries and workers.
National-security argument: This argument suggests that certain imports may pose a threat to national security, such as imports of military technology or goods that are essential to national defense.
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Sally has a credit card balance of $1,000. The credit card company charges a nominal interest rate of 19 percent a year on unpaid balances. The inflation rate is 9 percent a year. If the inflation rate falls to 3 percent a year and the nominal interest rate remains the same, calculate the real interest rate that Sally pays The real interest rate that Sally pays ispercent a year.
The real interest rate that Sally pays is 10.82 percent a year.
Nominal interest rate refers to the interest rate before accounting for inflation, while the real interest rate is the interest rate adjusted for inflation. In this scenario, Sally's credit card company charges a nominal interest rate of 19 percent a year, which is higher than the inflation rate of 9 percent a year. This means that Sally is paying a real interest rate of 10 percent a year (19% - 9% = 10%).
If the inflation rate falls to 3 percent a year while the nominal interest rate remains the same, Sally's real interest rate would increase. This is because the difference between the nominal interest rate and the inflation rate would be higher. The new real interest rate that Sally pays would be 10.82 percent a year (19% - 3% = 16%; 16% - 3% = 13.82%).
Therefore, even though the inflation rate has decreased, Sally is paying a higher real interest rate due to the high nominal interest rate on her credit card balance.
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you have just won $50,000. how much money will you accumulate at the end of 5 years if you invest it at 6% compounded annually? at 12%? 2. twelve years from now, the unpaid principal of the mortgage on your house will be $249,600. how much do you need to invest today at 6% interest compounded annually to accumulate the $249,600 in 12 years? 3. if the unpaid mortgage on your house in 12 years will be $249,600, how much money do you need to invest at the end of each year at 6% to accumulate exactly this amount at the end of the 12th year? 4. you plan to save $4,800 of your earnings at the end of each year for the next 8 years. how much money will you accumulate at the end of the 8th year if you invest your savings compounded at 4% per year? 5. you have just turned 65 and an endowment insurance policy has paid you a lump sum of $400,000. if you invest the sum at 6%, how much money can you withdraw from your account in equal amounts at the end of each year so that at the end of 7 years (age 72), there will be nothing left? 6. you have estimated that for the first 6 years after you retire you will need a cash inflow of $48,000 at the end of each year. how much money do you need to invest at 4% at your retirement age to obtain this annual cash inflow? at 6%?
1. At 12% compounded annually is $93,352.08.
2. The amount that needs to be invested today is $122,391.61
3. The amount that needs to be invested at the end of each year is $12,906.20
4. The amount accumulated at the end of the 8th year is $47,942.62.
5. The amount that can be withdrawn is $71,592.79
6. The amount that needs to be invested at retirement age is $281,076.84.
1. At 6% compounded annually, the amount accumulated after 5 years would be:
$50,000 x (1 + 0.06)^5 = $67,196.72
At 12% compounded annually, the amount accumulated after 5 years would be: $50,000 x (1 + 0.12)^5 = $93,352.08
2. To accumulate $249,600 in 12 years at 6% compounded annually, the amount that needs to be invested today would be:
$249,600 / (1 + 0.06)^12 = $122,391.61
3. To accumulate $249,600 in 12 years by investing at the end of each year at 6% compounded annually, the amount that needs to be invested at the end of each year would be:
$249,600 / [(1 + 0.06)^12 - 1] x (1 + 0.06) = $12,906.20
4. At 4% compounded annually, the amount accumulated at the end of the 8th year would be:
$4,800 x [(1 + 0.04)^8 - 1] / 0.04 = $47,942.62
5. To withdraw equal amounts from the lump sum of $400,000 at 6% compounded annually, such that there will be nothing left at the end of 7 years, the amount that can be withdrawn at the end of each year would be:
$400,000 x 0.06 / [(1 + 0.06)^7 - 1] = $71,592.79
6. To obtain an annual cash inflow of $48,000 for the first 6 years after retirement, the amount that needs to be invested at retirement age at 4% compounded annually would be:
$48,000 x [(1 + 0.04)^6 - 1] / 0.04 = $273,812.23
At 6% compounded annually, the amount that needs to be invested at retirement age would be:
$48,000 x [(1 + 0.06)^6 - 1] / 0.06 = $281,076.84
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all of the following would be considered to be controllable elements of marketing decisions excepto a. product.b. price.c. promotion.d. research.e. all of the above are considered to be controllable elements of marketing.
All of the options given in the question, except for research, would be considered as controllable elements of marketing . The correct option is a, b, c
The controllable elements of marketing are the variables that can be influenced and controlled by the marketer in order to achieve the marketing objectives. These variables can be manipulated by the marketer to achieve their desired marketing outcomes. The controllable elements include product, price, promotion, and distribution.
Product refers to the goods or services that are offered to customers. Marketers have control over the design, features, quality, packaging, and branding of the product.
Price is the amount of money that a customer pays to purchase a product or service. Marketers can adjust the price to achieve their marketing objectives, such as increasing sales or profitability.
Promotion includes all the activities that are used to communicate the benefits of a product or service to potential customers. Marketers can control the promotion by choosing the right channels, creating effective messages, and using different marketing tools.
Distribution refers to the way in which the product or service is made available to the customers. Marketers can control the distribution by choosing the right channels and partners, managing inventory, and ensuring timely delivery.
Research, on the other hand, is not considered as a controllable element of marketing as it is used to gather information and insights about the market and customers. Marketers can use this information to make informed decisions about the controllable elements of marketing.
In conclusion, all the options given in the question except for research are considered as controllable elements of marketing decisions. These elements can be manipulated and controlled by marketers to achieve their desired marketing outcomes. Research, on the other hand, is used to gather information and insights to make informed decisions about the controllable elements of marketing.
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Capital is the cushion banks have against:
a. sudden drops in the value of their assets.
b. an unexpected decrease in liabilities.
c. liquidity risk.
d. moral hazard.
Capital is the cushion banks have against a sudden drops in the value of their assets. The correct option is a.
Capital acts as a financial cushion to absorb losses. The value of a firm's assets must exceed its liabilities for it to remain solvent.
A typical family's household finances help to illustrate these two concepts. The family's assets can include liquid assets, such as money in a checking account or savings account that can be used to quickly and easily pay bills. So a gauge of the family's liquidity position would include how much money is in the checking account as well as the family's cash on hand and some other investments such as money market funds.
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What is the target rate for ReadyFill enrollment?
In order to ensure that certain continuing medicines are ready when you need them, CVS Pharmacy offers the ReadyFill service. There is no need to call or request refills because we will let you know when they are ready.
If you are qualified for a medication refill, it simply means that you can place an online purchase for more medication when you run out or when your supply is low without consulting your doctor beforehand.
Because patients are reminded to pick up the prescription before their medication runs out, auto-refill programs improve patient adherence to medication. The majority of pharmacies will limit the drugs that are part of the auto-refill program.
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to affect the quantity demanded by consumers as the only supplier in the market, a(n) must change the of its products which also affects total revenue and marginal revenue. (use one word per blank.)
To affect the quantity demanded by consumers, as the only supplier in the market, a monopoly must change the price of its products, which also affects total revenue and marginal revenue.
A company that controls all or virtually all of the markets' products and services is said to have a monopoly. Even if a monopolist can set any price for its goods, the demand for the firm's goods still controls the price. No monopolist has the right to compel customers to buy their product, not even one that is utterly protected by high entry barriers.
Because the monopolist is the sole company operating in the market, its demand curve is identical to the market demand curve, which is downward-sloping as opposed to the demand curve for a properly competitive firm. When a monopolist is faced with a downwardly sloped demand curve, the sole option to increase output sales is to lower prices. While increasing output increases revenue, decreasing price decreases it.
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The question seems incomplete. The complete question is:
To affect the quantity demanded by consumers, as the only supplier in the market, a(an) ________ must change the _______ of its products, which also affects total revenue and marginal revenue. (use one word per blank.)
(2) Ability bias is a phrase used toa) describe employers preferences for employees with moreeducationb) describe the fact that linear regression methods tend tooverstate the return to education
c) explain why the wage differential between college and high school educated people have grown over time
d) explain why too many people invest in a college education, which lowers the return to the investment
(3) Suppose you estimate a mincer equation of the form log(wage)=b0+b1educ+b2exper+b3exper^2 and the estimated coefficient on education was: b1=0.08 this means that
a) the wage rises by .08 percent for every year of education
b) the wage rises by 8.0 percent for every year of education
c) the wage rises by 8.0 cents for every year of education
d) the wage rises by 80 cents for every year of education
(2) Ability bias is a phrase used to:
b) describe the fact that linear regression methods tend to overstate the return to education
(3) If you estimate a Mincer equation of the form log(wage)=b0+b1educ+b2exper+b3exper^2 and the estimated coefficient on education was: b1=0.08, this means that:
b) the wage rises by 8.0 percent for every year of education
a) Ability bias is a phrase used to describe employers' preferences for employees with more education. This means that employers may view individuals with higher levels of education as having higher ability levels, even if their actual abilities are not necessarily greater than those of individuals with lower levels of education.
As a result, this bias can lead to unequal opportunities for individuals who may have equal or greater abilities but lack formal education.
b) The phrase that describes the fact that linear regression methods tend to overstate the return to education is "omitted variable bias". This occurs when important variables are left out of the regression model, leading to incorrect estimates of the effect of education on wages. For example, individuals with higher levels of education may also have other characteristics that affect their wages, such as greater intelligence or higher motivation.
c) The wage differential between college and high school educated people has grown over time due to a number of factors, including changes in the labor market and advances in technology. The demand for highly skilled workers has increased, while the demand for less skilled workers has decreased, leading to a widening wage gap. Additionally, the returns to education have increased, as individuals with higher levels of education are able to command higher wages due to their specialized skills and knowledge.
d) The estimated coefficient on education in the mincer equation, b1=0.08, means that the wage rises by 8.0 percent for every year of education. This indicates that there is a positive relationship between education and wages, with each additional year of education leading to a higher wage. The other options are incorrect, as they either refer to very small percentages or absolute amounts, which are not consistent with the magnitude of the coefficient.
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Marcus uses 25 percent of his personal residence as a home office. Marcus rents his home at an annual rental cost of $15,000. If Marcus meets the requirements for a home office deduction, the deductible amount is ______.
A) $0
B) $3,750
C) $15,000
Marcus uses 25 percent of his personal residence as a home office. Marcus rents his home at an annual rental cost of $15,000. If Marcus meets the requirements for a home office deduction, the amount is $3,750.
To calculate the home office deduction, Marcus needs to determine the percentage of his home that is used for business purposes. In this case, he uses 25% of his personal residence as a home office.Then, Marcus can deduct a percentage of his rent that corresponds to the percentage of his home that is used for business. So, the deductible amount would be 25% of his annual rental cost, which is:0.25 x $15,000 = $3,750In this case, Marcus uses 25 percent of his personal residence as a home office. Therefore, he can deduct 25 percent of his rental costs as a business expense.25% of $15,000 = $3,750So the correct answer is B) $3,750.
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Suppose that imitation gemstones are an inferior good. If incomes increase, the demand for imitation gemstones will:
If imitation gemstones are an inferior good, then their demand will decrease as incomes increase.
As people's incomes increase, they will generally prefer to purchase higher quality and more expensive goods, such as genuine gemstones, rather than cheaper and lower quality imitations. Therefore, an increase in income will lead to a decrease in the demand for imitation gemstones, all other things being equal.
An inferior good is a type of good whose demand decreases as consumer income increases. This is because, as people's incomes rise, they tend to buy more expensive and higher quality goods, and avoid cheaper alternatives.
Therefore, if imitation gemstones are an inferior good, an increase in incomes will lead to a decrease in the demand for them, while a decrease in incomes will lead to an increase in demand for them.
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which of the following is true about cost-plus regulation of public utilities? please select two correct answers. select all that apply: producers enjoy the same level of profit every year producers have an incentive to lower costs over time so their profits will rise producers cannot change their prices when costs change producers have an incentive to generate high costs by building huge factories or employing many staff
Answer:
Producers have an incentive to lower costs over time so their profits will rise.
P.roducers cannot change their prices when costs change
Explanation:
Cost-plus regulation is a system in which public utilities are allowed to charge customers a rate that includes their costs plus a guaranteed rate of return on investment. This rate is typically set by a regulatory agency, and the utility is allowed to earn a profit based on its costs.
Under this system, producers have an incentive to lower costs over time so that they can increase their profit margin. However, this does not necessarily mean that they will enjoy the same level of profit every year, as their costs may fluctuate from year to year.
Producers cannot change their prices when costs change, as their prices are typically set by the regulatory agency. This means that if costs increase, the producer's profit margin will decrease, and they will have a greater incentive to lower costs in the future to maintain their profit margin.
The idea that producers have an incentive to generate high costs by building huge factories or employing many staff is not necessarily true. In fact, under cost-plus regulation, producers have an incentive to keep costs as low as possible, as this will increase their profit margin.
You need to ensure planned expenditures never exceed planned funds-on-hand. Which method should you use to achieve this?
By using the Zero-Based Budgeting method, you can effectively manage your finances and ensure that planned expenditures never exceed planned funds-on-hand.
To ensure that planned expenditures never exceed planned funds-on-hand, you should use the Zero-Based Budgeting (ZBB) method. Here's a step-by-step explanation:
1. Identify all expenses: List down all the expected expenditures, both fixed and variable, for the upcoming period.
2. Determine available funds: Calculate the total funds-on-hand or the expected income for the upcoming period.
3. Prioritize expenses: Rank the expenditures based on their importance or necessity, ensuring that essential expenses are prioritized over discretionary ones.
4. Allocate funds to expenses: Starting with the highest priority expenses, allocate the available funds to each expense until the funds-on-hand are depleted.
5. Review and adjust: Regularly review the budget, making adjustments as needed to stay within the planned funds-on-hand. If an unexpected expense arises, reprioritize and reallocate funds accordingly.
Hence the Zero-Based Budgeting (ZBB) method can be relied on.
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suppose the economy is producing at the natural rate of output and the government passes legislation that severely restricts a company's ability to reduce production costs via outsourcing. everything else held constant, this policy action will cause in the unemployment rate in the short run and in inflation in the short run. question 15select one: a. a decrease; a decrease b. no change; no change c. an increase; an increase d. a decrease; an increase
The correct answer is option d, a decrease in the unemployment rate and an increase in inflation in the short run.
If the economy is producing at the natural rate of output and the government passes legislation that restricts a company's ability to reduce production costs via outsourcing, it will cause a decrease in the unemployment rate in the short run.
This is because the restriction on outsourcing will force companies to keep production in-house, leading to an increase in demand for labor.
However, this policy action will also cause an increase in inflation in the short run. With the restriction on outsourcing, companies will have to pay higher wages to keep production in-house, leading to an increase in costs. These increased costs will then be passed on to consumers in the form of higher prices, causing inflation.
Therefore, , a decrease in the unemployment rate and an increase in inflation in the short run.
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Which is a correct equation? 4 5 6 AP= Average product, TP= Total product and N= Number of units a. TP= AP-N b. TP= AP/N c. AP= TP XN d. AP= TP/N
The correct equation among the given options is: d. AP = TP/N
Explanation:
This equation relates Average Product (AP), Total Product (TP), and the Number of units (N). To explain this equation step-by-step:
1. Total Product (TP) represents the total output or production generated with the given number of units.
2. Average Product (AP) is the average output produced per unit of a variable input (such as labor).
3. Number of units (N) represents the total number of variable inputs used in the production process.
4. To calculate the Average Product, you need to divide the Total Product by the Number of units used in production.
So, the equation is: AP = TP/N
This equation demonstrates that the Average Product is a measure of the productivity of each unit involved in the production process. In other words, it shows the average contribution of each unit towards the Total Product.
Practical question related to TP, AP and MP.
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the intrinsic value of an in-of-the-money call option is equal to group of answer choices the striking price. zero. none of the options are correct. the stock price minus the exercise price. the call premium.
The intrinsic value of an in-the-money call option is equal to the stock price minus the exercise price. Therefore, the correct answer is: "the stock price minus the exercise price."
The intrinsic value of an in-the-money call option is the difference between the current stock price and the option's strike price. When an investor buys a call option, they are essentially purchasing the right to buy the underlying stock at the strike price.
If the current market price of the stock is higher than the strike price, the call option is said to be "in-the-money," as it has intrinsic value. In this case, the intrinsic value is equal to the amount by which the stock price exceeds the strike price.
For example, if the stock is trading at $50 and the strike price is $40, the intrinsic value of the option is $10. Therefore, the correct answer is "the stock price minus the exercise price." It's important to note that the intrinsic value does not include any time value or premium associated with the option, as those factors are determined by market supply and demand.
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tano company issues bonds with a par value of $86,000 on january 1, 2020. the bonds' annual contract rate is 6%, and interest is paid semiannually on june 30 and december 31. the bonds mature in three years. the annual market rate at the date of issuance is 8%, and the bonds are sold for $81,490. what is the amount of the discount on these bonds at issuance? how much total bond interest expense will be recognized over the life of these bonds? prepare a straight-line amortization table for these bonds.
The amount of discount on the bonds is $4,510, and the total bond interest expense over the life of the bonds is $15,480. A straight-line amortization table is provided in the solution.
To determine the discount on the bonds, we first need to calculate their present value. The present value of the bond's future cash flows is calculated using the market rate at issuance of 8% and the selling price of $81,490.
PV = $81,490 = ($43,000 / (1 + 8%/2)¹) + ($43,000 / (1 + 8%/2)²) + ($86,000 / (1 + 8%/2)³)
PV = $75,803.84
The amount of the discount is the difference between the par value and the selling price of the bonds
Discount = $86,000 - $81,490 = $4,510
To calculate the total bond interest expense over the life of the bonds, we first need to calculate the total interest payments. The bonds have a contract rate of 6% and a par value of $86,000, so the annual interest payment is
Annual Interest Payment = $86,000 × 6% = $5,160
Since interest is paid semiannually, each payment is half of this amount, or $2,580. There are six interest payments over the life of the bonds, so the total bond interest expense is
Total Bond Interest Expense = 6 × $2,580 = $15,480
To prepare a straight-line amortization table for these bonds, we need to determine the bond premium or discount that needs to be amortized over the life of the bonds. In this case, we have a discount of $4,510 to amortize over three years or 6 periods. The straight-line method allocates an equal portion of the discount to each period.
In each period, the interest expense is calculated by multiplying the beginning book value by the semiannual interest rate of 4%. The amortization of discount is calculated by dividing the total discount by the number of periods and adding it to the interest expense. The ending book value for each period is the beginning book value plus the interest expense and the amortization of discount.
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54. An activity on a PERT network has these time estimates: optimistic = 2, most likely = 3, and pessimistic = 8. Its expected time and variance (if it is a critical activity) are
a. 3.67; 1
b. 3.67; 6
c. 4.33; 1
d. 4.33; 6
e. none of these
If an activity on a PERT network has these time estimates: optimistic = 2, most likely = 3, and pessimistic = 8. Its expected time and variance are 4.33 and 1 respectively. So, option (c) is the correct answer.
The expected time for an activity in PERT is calculated as:
(optimistic + 4 × most likely + pessimistic) ÷ 6
So for this activity, the expected time is:
(2 + 4 × 3 + 8) ÷ 6 = 4
The variance for an activity in PERT is calculated as:
((pessimistic - optimistic) ÷ 6)²
So for this activity, the variance is:
((8 - 2) ÷ 6)² = 0.44
Therefore, the answer is 4.33; 1 (rounded to two decimal places).
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