Frederick Taylor is widely known as the father of scientific management, and one of his core ideas was that workers should be incentivized to produce more. Taylor believed that by using scientific methods to analyze and optimize work processes, productivity could be increased dramatically.
In his view, workers were not always naturally inclined to work hard, and often required external motivation to perform at their best. To achieve this, Taylor proposed the concept of a "differential piece-rate system." Under this system, workers would be paid a base rate for their work, but would also be eligible for additional pay if they produced above a certain level. The idea was to create a clear incentive for workers to maximize their productivity, as they would stand to benefit directly from their efforts.
Taylor believed that this system would help to create a more efficient and effective workforce, and would ultimately benefit both workers and employers. Workers would be motivated to produce more, which would lead to increased profits for the company. In turn, employers would be able to pay their workers more without sacrificing productivity.
While Taylor's ideas were controversial at the time, they have had a lasting impact on management theory and practice. Today, many companies use some form of performance-based pay or incentive system to motivate their employees and encourage higher levels of productivity.
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is an insignificant value per share of capital stock specified in the corporate charter.multiple choice question.treasury stockseasoned valueadditional paid-in capitalpar value
The insignificant value per share of capital stock specified in the corporate charter is called par value. Therefore the correct option is option D.
The nominal value per share of capital stock stipulated in the corporate charter is known as par value. It is a legal notion that reflects the lowest price at which a stock can be sold.
It's usually a modest sum, like $0.01 or $0.001 per share, and it's mainly utilised for accounting and legal purposes.
The par value has no bearing on the stock's market value, which is decided by supply and demand in the stock market. Therefore the correct option is option D.
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To be most effective in their duties, the HR department should be in what position of the organization's hierarchy?
The same as the top managers
It doesn't matter as HR will be equally effective in all
The same as the front line workers so they have access to them
The same as the line managers
The most effective position for the HR department in an organization's hierarchy is the same as the line managers.
This allows HR to have access to both employees and top management, ensuring proper communication and support.
When the HR department is positioned at the same level as line managers, they can effectively address employee concerns, manage talent, and create policies that benefit the workforce.
Being on the same level as line managers enables HR to collaborate with them to identify and solve issues related to employees' well-being and performance.
Additionally, HR can help line managers in executing strategies aligned with organizational goals. At the same time, HR can effectively communicate with top management to advocate for employee needs and provide valuable input on strategic decisions.
This position in the hierarchy allows HR to balance the needs of both employees and the organization, resulting in increased employee satisfaction and overall productivity.
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the intangible asset that allows a business to earn a higher return than a comparable business might generate with the same tangible assets is known as .
The intangible asset that allows a business to earn a higher return than a comparable business might generate with the same tangible assets is known as the "economic moat." An economic moat can take many forms, such as a strong brand name, proprietary technology, network effects, patents, or regulatory barriers to entry.
This term was coined by legendary investor Warren Buffett, who emphasized the importance of investing in companies that have a competitive advantage that protects their profits and market share.By having one or more of these advantages, a company can generate higher profits and returns on investment than its competitors, which in turn attracts more investors and customers.
Investors are always on the lookout for companies with economic moats because they tend to be more resilient to market downturns and have a higher likelihood of long-term success. However, it's important to note that economic moats are not foolproof and can erode over time, so investors need to continually monitor their investments and adjust their strategies accordingly.
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You are executing the project management plan and project work has been going on for five months. You need to respond to a risk that remained after risk planning. A team member asks you where the cost to cover the response will come from. Which response should you give?
You are executing the project management plan and project work has been going on for five months. You need to respond to a risk that remained after risk planning, and a team member asks you where the cost to cover the response will come from. In this situation, you should inform the team member that the cost to cover the risk response will come from the project's contingency reserve.
The contingency reserve is a portion of the project budget specifically set aside to address identified risks that may arise during the project execution. This reserve is established during the project planning phase, taking into consideration the risk management plan and the risk register. By using the contingency reserve to cover the cost of the risk response, the project remains on track financially, ensuring that the risk is addressed without significantly impacting the project's overall budget.
In order to access and use the contingency reserve, the project manager should follow the change control process, including submitting a change request and obtaining approval from relevant stakeholders. This ensures that any adjustments to the project's scope, schedule, or budget are documented and approved, maintaining transparency and accountability throughout the project lifecycle.
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in 2021, fred invested $50,000 in a general partnership. fred's interest is not considered to be a passive activity. if his share of the partnership losses is $35,000 in 2021 and $25,000 in 2022, how much can he deduct in each year?
In 2021, Fred can deduct up to $50,000 of his share of the partnership losses, which is the amount he invested in the partnership. However, since his share of the losses is only $35,000, he can only deduct that amount from his taxable income in 2021. The remaining $15,000 cannot be deducted in 2021 but can be carried forward to future years.
In 2022, Fred can deduct up to $25,000 of his share of the partnership losses. Any remaining losses from 2021 that were not deducted in that year can also be deducted in 2022. However, if his total losses for the year exceed his taxable income, he can only deduct up to the amount of his taxable income for that year.
It's important to note that since Fred's interest in the partnership is not considered to be a passive activity, he can deduct his losses against his other income, such as wages or business income, rather than being subject to the passive activity loss rules.
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if a country had a trade surplus of $100 billion and then its exports rose by $40 billion and its imports rose by $30 billion, its net exports would now be question 10 options: $110 billion $90 billion. $70 billion. $60 billion.
The country's net exports would now be $110 billion. This can be estimated by adding the initial trade surplus of $100 billion to the $40 billion rise in exports and subtracting the $30 billion increase in imports.
As a result, from the initial trade surplus of $100 billion, the country's net exports have climbed by $10 billion. The net exports would now be $110 billion ($100 billion + $40 billion - $30 billion), up from the previous trade surplus of $100 billion.
When a country exports more products and services than it imports, it has a trade surplus. In this situation, an increase in exports and imports shows economic growth, and the accompanying increase in net exports indicates that the country's trading position has improved.
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Why would managers not consider drastically modifying their company's strategy?
a. changing market conditions
b. advancing technology
c. shifting buyer needs
d. mounting evidence that the strategy is not working well
e. employee demands for better working conditions
Managers may not consider drastically modifying their company's strategy due to a variety of reasons, including: employee demands for better working conditions. Therefore the correct option is option E.
Employee demands for better working conditions: Employee satisfaction is vital, but it is not usually the key driver of strategic decision-making.
Managers may be more concerned with meeting the wants and expectations of customers, staying ahead of competitors, and maximising earnings. Employee demands should be regarded as part of the broader plan, but they should not be the primary driver of strategic change.
Changing market conditions: If significant changes in market conditions are observed, managers are more inclined to consider changing their company's strategy.
For example, if a new rival enters the market and begins to take market share, or if customer tastes shift towards a different sort of product, managers may need to revise their strategy to accommodate these changes. Therefore the correct option is option E.
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an affirmative action plan is a strategy that encourages employers to increase the diversity of their workforce by hiring individuals based on race, sex, and age. question 9 options: a) true b) false
The given statement "an affirmative action plan is a strategy that encourages employers to increase the diversity of their workforce by hiring individuals based on race, sex, and age" is true because the ultimate goal of affirmative action is to create a more diverse and inclusive workplace.
An affirmative action plan is a strategy that aims to promote diversity and eliminate discrimination in the workplace by encouraging employers to hire and promote individuals from historically disadvantaged groups, such as minorities, women, and older workers.
This means that employers are encouraged to actively seek out qualified candidates from these groups, rather than relying solely on traditional recruiting methods or personal networks that may not be diverse. Affirmative action plans are typically voluntary, but in some cases, they may be required by law or as a condition of receiving government contracts or funding.
It is important to note that affirmative action plans do not involve quotas or preferential treatment based solely on race, sex, or age, but rather seek to level the playing field and ensure equal opportunities for all individuals, regardless of their background or identity.
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Chapter 11 Homework Help Seve Check my work mode: This shows what is correct et incorrect for the work you have completed so far I does not indicate completion Helente question 15 Connect Problem 11-12 A villages se residents, ench of whom he couled savings of $100. Each Villager can use this money either to buy government bond that pays 10 interest per year or to buy a year-old goat settonome commons to grande year. The price the age gets for 2 year old goot depends on the amount of weight gains while on the commons, which independs on the number of goals sont onto the commons, as shown in the following ble at the Year TRE anche des individual how on the goats will be onome common bow many vingen i bon Det the comment and 2 view by bonds CP 151 Next > Hall Oo V 1125 Chapter 11 Homework Pop Save & Eat Subm Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion un te question 15 What will be the resulting Vilage income? $ 176 po D. What is the socinily optimal number of ponts for this village to send onto the commons goat What would village income tell the sociany optimal number of gants were sent onto the common? 5 The village committee votes to auction the right to rate goats on the common to the highest biddec Assuring the villagers can both borrow and lend at 10 percent annual interest, how much will the right to sell for at auction? $ How many goats with new ownsend onto the commons, and what wil betegge income? go wis be sent out to the commons and meeting Village income will be 1540 Prix 1517 Ned> ОО
without more information on the number of goats sent onto the commons and the amount of weight gain, it is impossible to determine the resulting income.
Based on the information provided, it is difficult to determine the exact question you are asking. However, I can provide some insights on the problem statement.
The problem states that a village has residents, each of whom has savings of $100. Each villager can use this money to either buy a government bond that pays 10% interest per year or to buy a year-old goat to graze on a common for a year. The price the villager gets for a 2-year-old goat depends on the amount of weight gain while on the commons, which is affected by the number of goats sent onto the commons.
To determine the resulting village income, you would need more information on the number of villagers and how many of them choose to buy goats or bonds. The socially optimal number of goats to send onto the commons would depend on the cost of sending each goat and the benefit that the goats provide to the community. Without more information, it is impossible to determine the exact number.
If the village income is known, it could potentially provide some information on the optimal number of goats sent onto the commons. For example, if the village income is higher than expected, it may indicate that more goats should be sent onto the commons.
The problem also states that the village committee votes to auction the right to raise goats on the commons to the highest bidder. To determine how much the right would sell for, you would need more information on the value of raising goats on the commons and how much revenue it generates.
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which of the following statements regarding the financial statement impact of inventory costing is false? multiple choice when purchase prices are different, the methods to assign inventory costs result in different amounts for cost of goods sold. inventory on the balance sheet approximates current cost when fifo is used. the weighted average method smooths out erratic changes in costs. the use of different costing methods do not impact net income. cost of goods sold on the income statement approximates current cost when lifo is used.
The statement "The use of different costing methods do not impact net income" is false. The use of different inventory costing methods can result in different amounts of cost of goods sold, which affects the calculation of gross profit and, therefore, net income.
The false statement regarding the financial statement impact of inventory costing is:
"The use of different costing methods does not impact net income."This statement is false because the different inventory costing methods (such as FIFO, LIFO, and weighted average) result in different amounts of cost of goods sold, which affects the calculation of gross profit and net income.
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National saving is equal to a. saving by households minus the government's budget deficit. b. the national debt. c. national income plus the nation's money supply. d. the government's budget surplus.
National saving is equal to saving by households, businesses, and the government sector combined, minus the amount of investment made by foreigners in the domestic economy.
Therefore, option a. saving by households minus the government's budget deficit is the correct answer.National saving is an important macroeconomic concept as it represents the resources available for investment in the domestic economy. Higher levels of national saving can contribute to higher levels of investment, which can lead to increased economic growth over time.
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giselle is happy with her job at the firm. she works hard during the week and accomplishes her tasks on time. she spends her time on the weekend volunteering with her philanthropy group. the philanthropy group does not have anything to do with the firm. she just enjoys working on projects for less fortunate people. giselle is .
Giselle is happy with her job at the firm. she works hard during the week and accomplishes her tasks on time. she spends her time on the weekend volunteering with her philanthropy group. the philanthropy group does not have anything to do with the firm. she just enjoys working on projects for less fortunate people. Giselle is intrinsically motivated.
Thus, the act of engaging in an activity for its own intrinsic satisfaction rather than seeking a separate benefit is known as intrinsic motivation. When someone is intrinsically driven, they are inspired to act by the fun or challenge involved rather than by outside demands, pressures, or rewards.
Extrinsic motivation results from outside forces, whereas intrinsic motivation originates from within. When you are intrinsically motivated, you take part in an activity because it makes you happy and gives you a sense of accomplishment. When you act in order to receive an outside reward, you are extrinsically driven.
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Which skill is not necessary for HR specialists to have to do their job well?
Knowledge of what other specialists do
Knowledge of the organization
Knowledge of accounting
The skills required for their specialty
The skill not necessary for HR specialists to do their job well is knowledge of accounting.
While knowledge of what other specialists do, knowledge of the organization, and the skills required for their specialty are all important for an HR specialist, knowledge of accounting is not as crucial.
This is because the primary focus of an HR specialist is to manage personnel-related matters, such as recruitment, training, employee relations, and performance evaluations.
Though a basic understanding of financial matters can be helpful, detailed knowledge of accounting is typically the responsibility of an organization's accounting or finance department.
The HR specialist's main goal is to ensure the well-being and development of the company's employees, which does not necessitate an in-depth understanding of accounting practices.
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What is redundancy planning?
Planning to take the wordiness out of written policies so they are more understandable
Planning on having extra employees so as not to fall short
Planning to lay off employees
Having a plan to store information in computer systems
Redundancy planning is best described as: planning to lay off employees. The correct option is C.
Redundancy planning refers to: the process of preparing for the potential need to lay off employees due to various factors, such as economic downturns, restructuring, or changes in organizational needs.
Redundancy planning is important for organizations as it helps them ensure a smooth transition during challenging times,
This process involves identifying potential roles or departments that may be affected, developing criteria for selecting which employees will be laid off, creating communication strategies for informing employees, and providing support services such as job search assistance or counseling.
By having a well-thought-out redundancy plan in place, organizations can minimize the negative impacts on both the employees who are let go and those who remain in the organization.
Additionally, proper planning allows organizations to maintain their reputation and ensure that they continue to operate efficiently after the redundancies have taken place.
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Complete question:
What is redundancy planning?
a. Planning to take the wordiness out of written policies so they are more understandable
b. Planning on having extra employees so as not to fall short
c. Planning to lay off employees
d. Having a plan to store information in computer systems
_____ refers to integrating the service component of the marketing mix with efforts to influence consumer demand.
Societal marketing
Product churning
Multi-level marketing
Capacity management
Network monitoring
Capacity management refers to integrating the service component of the marketing mix with efforts to influence consumer demand. The correct answer is option d.
Capacity management refers to the act of ensuring that a business enterprise continues to maximize its potential activities and production output at all times, under all circumstances. It integrates the service component of the marketing mix to influence consumer demand.The capacity of a business can be measured by checking how much it achieved, how much it produced, or how much it sold within a given period. Capacity management focuses on balancing the supply of services with the level of demand from customers, ensuring that resources are used efficiently and customer satisfaction is well maintained. Hence the correct answer is option d.
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In a variant of the ultimatum game, the Proposer selects one oftwo offers to make to the Responder: divide the $100 equally andeach person gets $50 (i.e., (50,50)) or keep $90 and offer theResponder $10 ((90, 10)). The Responder then chooses whether to accept or reject the offer. If the Responder rejects, both players get $0.
(a) Suppose the Proposer is entirely self-regarding and believes that the Responder is also entirely self-regarding. What will be the outcome of the game (in other words, what will the Proposer offer and what will the Responder accept)? Explain your answer.
(b) Now suppose the Responder values the social norm of fairness. The Proposer is aware that this Responder values fairness. What offer would the Responder be willing to accept? Why might it make sense for an entirely self-regarding Proposer in the Ultimatum Game to offer half of the amount to this Responder?
(c) Now there are two Responders and one Proposer in the game. If neither Responder accepts an offer, everyone gets zero. If one Responder accepts, they share the offer split with the Proposer. The Responder who rejected gets zero. If both Responders accept, one is randomly chosen with 50% probability to share the offered split with the Proposer. The other Responder gets zero. Why would Responders in this game be less like to reject a low offer from the Proposer?
In a variant of the ultimatum game, the Proposer selects one of two offers to make to the Responder: divide the $100 equally and each person gets $50 (i.e., (50,50)) or keep $90 and offer the Responder $10 ((90, 10)).
(a) If both the Proposer and the Responder are entirely self-regarding, the Proposer will offer the minimum possible amount, which is (90, 10). The Responder, on the other hand, will accept this offer because getting $10 is better than getting nothing at all.
(b) If the Responder values the social norm of fairness, they would likely reject the offer of (90, 10) because it is highly unfair. The Responder would probably expect an equal split of $50 each. The entirely self-regarding Proposer may offer half of the amount, (50, 50), to the Responder to avoid getting nothing if the offer is rejected. Offering a fair split may also increase the likelihood that the Responder accepts the offer.
(c) In this game, there is a higher probability that one Responder will accept the offer, even if it is low, because rejecting the offer will result in both Responders receiving nothing. Additionally, if one Responder accepts the offer, the other Responder receives nothing, which increases the pressure on each Responder to accept any offer made. The risk of getting nothing may outweigh the desire to receive a fair share of the money, leading Responders to accept even low offers.
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suppose that call options on exxonmobil stock with time to expiration 6 months and strike price $89 are selling at an implied volatility of 29%. exxonmobil stock price is $89 per share, and the risk-free rate is 4%. a. if you believe the true volatility of the stock is 32%, would you want to buy or sell call options? multiple choice buy call options sell call options b. now you want to hedge your option position against changes in the stock price. how many shares of stock will you hold for each option contract purchased or sold? (round your answer to 4 decimal places.)
The delta of the call option is 0.5243, which means that for every call option contract purchased or sold, we should hold 0.5243 shares of ExxonMobil stock to hedge against changes in the stock price.
a. If you believe the true volatility of the stock is 32%, you would want to buy call options since the implied volatility of 29% is lower than your estimated volatility of 32%. This means that the call options are relatively cheap, and you could potentially profit if the actual volatility turns out to be higher than the implied volatility.
b. To hedge the option position, we need to calculate the delta of the call option. The delta of a call option measures the change in the option price for a given change in the underlying stock price. The delta of a call option is positive and ranges from 0 to 1. The delta is also affected by the time to expiration, the strike price, the stock price, the risk-free rate, and the implied volatility.
Using the Black-Scholes option pricing model, the delta of a call option on ExxonMobil stock with a strike price of $89, six months to expiration, and an implied volatility of 29% is:
N(d1) = N((ln(S/K) + (r + 0.5 * σ^2) * T) / (σ * sqrt(T))) = N((ln(89/89) + (0.04 + 0.5 * 0.29^2) * 0.5) / (0.29 * sqrt(0.5))) = 0.5243
where S is the stock price, K is the strike price, r is the risk-free rate, σ is the implied volatility, and T is the time to expiration.
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Buy call options if true volatility is higher. Hedge with 0.5 shares of stock for each option.
If you believe the true volatility of the ExxonMobil stock is higher than the implied volatility of the call options, you would want to buy call options.
This is because an increase in volatility would increase the value of the call options, and buying them at a lower price would result in a profit.
To hedge your option position against changes in the stock price, you would use the delta hedging strategy. Delta measures the sensitivity of the option price to changes in the underlying stock price.
As the strike price is the same as the current stock price, the delta of the call option is approximately 0.5. Therefore, you would hold 0.5 shares of stock for each call option purchased or sold.
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What goes into the WeCare scorecard?
Creating smiles is what We CARE stands for. Watch the small print. Respect one another. Showcase excellence.
Every voice should be heard, regular communication is emphasized, and transparency is sought whenever possible.
Excellence: We aim for excellence in everything we do.
Collaboration: Wecare the greatest way to work is in a team.
Giving personal care, such as bathing, shaving, and maintaining dental hygiene. assisting those with mobility difficulties during transfers and using the proper tools. daily meal preparation and assistance with feeding and hydration. supporting and administering medication in accordance with the policies and practices of the company.
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The specific contents of the WeCare scorecard would depend on the organization's objectives and priorities. However, a typical WeCare scorecard may include the following components:
Customer Satisfaction: This measures the satisfaction levels of customers who have used the organization's products or services. It can include metrics such as customer surveys, Net Promoter Score (NPS), customer feedback, and customer retention rates.
Employee Engagement: This focuses on the level of engagement and satisfaction among employees. It can include metrics such as employee surveys, turnover rates, employee satisfaction scores, and employee performance indicators.
Service Quality: This assesses the quality of service provided by the organization. It can include metrics such as service response times, service resolution rates, service level agreement (SLA) compliance, and customer complaints.
Financial Performance: This measures the financial health and performance of the organization. It can include metrics such as revenue growth, profitability, return on investment (ROI), cost savings, and financial targets.
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QUESTION 4Frank owns a café, and his totalrevenue is not sufficient to cover his average total cost. What areFrank’s options in the short run? 2MarksQUESTION 5A manufacturer must decide what level of output is profit maximising quantity. Use graph(s) to illustrate and explain how the manufacturer can use marginal analysis to decide on this level of quantity. 1.5 Marks
Will producing a profit maximising quantity guarantee a profit? Explain. 1 Mark
QUESTION 6
What type of market structure are the restaurants in Sunshine shopping centre? Explain. 1 Mark
Explain two strategies a firm in an oligopoly market pursue to increase customer loyalty. 1 Mark
QUESTION 7
Define game theory and explain why game theory is used to analyse the behaviour of an oligopoly firm. 1 Mark
If Frank's total revenue is not sufficient to cover his average total cost, he is facing a situation of operating at a loss.
In the short run, he has a few options:
1.Continue operating the café: Frank may decide to continue operating the café, even if it is not profitable in the short run. This may be because he expects the situation to improve in the future or because he is committed to the business and wants to keep it running. However, continuing to operate at a loss is not sustainable in the long run.
2.Shut down the café: Another option for Frank is to shut down the café temporarily. This would allow him to avoid incurring further losses until the situation improves. However, shutting down the café would also mean losing potential revenue and customers.
3.Reduce costs: Frank could also try to reduce his costs to make the café more profitable. This could involve cutting back on staff, reducing the variety of menu items, or finding cheaper suppliers for ingredients. However, reducing costs may also mean a decline in the quality of the café's offerings, which could lead to fewer customers in the long run.
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in the AK model, there can be sustained growth in the standard of living because ofSelect an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.a. exogenous technological progress.b. positive externalities.c. constant returns to capital.d. a research sector.
In the AK model, there can be sustained growth in the standard of living because of constant returns to capital (c).
This is because the AK model assumes a linear production function with capital as the only input, and the output is directly proportional to the capital invested, leading to sustained growth without diminishing returns.
The AK model of economic growth is an endogenous growth model used in the theory of economic growth, a subfield of modern macroeconomics. In the 1980s it became progressively clearer that the standard neoclassical exogenous growth models were theoretically unsatisfactory as tools to explore long run growth, as these models' predicted economies without technological change and thus, they would eventually converge to a steady state, with zero per capita growth.
This model shows constant marginal product to capital (as MPk = dY/dK=A) indicating that long run growth is possible. Thus, AK model is a simple way of illustrating endogenous growth. Assuming a closed economy, the savings are equal to investment under conditions of full employment.
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How does a command economy differ from a mixed market economy?
In a command economy, citizens have fewer property rights. In a mixed market economy, citizens have more property rights.
In a command economy, citizens have more property rights. In a mixed market economy, citizens have fewer property rights.
In a command economy, citizens own all public property. In a mixed market economy, the government own all private property.
In a command economy, citizens own all private property. In a mixed market economy, the government owns all public property
Answer:In a command economy, citizens own all private property. In a mixed market economy, the government owns all private property.
Explanation:
The correct answer is: A. In a command economy, citizens have fewer property rights. In a mixed market economy, citizens have more property rights.
Explanation:
In a command economy, the government makes all economic decisions and owns all resources and property. This means that citizens have fewer property rights and little control over their economic decisions. The government makes decisions regarding what and how much to produce, how to produce it, and how to distribute it.
In contrast, in a mixed market economy, individuals and private businesses own most of the property and resources. The government sets regulations and standards to ensure businesses operate within certain boundaries, but individuals and businesses have more control over their economic decisions. Citizens have more property rights and freedom to make economic decisions based on market forces.
The constraints of an LP model define the
feasible region practical region maximal region opportunity region
The constraints of a linear programming (LP) model define the feasible region. The feasible region is the set of all possible solutions to the LP model that satisfy all of the model's constraints.
In other words, it is the region in the solution space where all of the constraints are simultaneously satisfied. The feasible region is important in LP because it is used to determine the optimal solution, which is the point within the feasible region that maximizes or minimizes the objective function. The objective function is a mathematical expression that defines the goal of the LP model, such as maximizing profit or minimizing cost. Therefore, in LP, the feasible region is the set of all possible solutions that are feasible, or possible, given the constraints of the model. The optimal solution is then determined by finding the point within the feasible region that satisfies the objective function.
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Closing entries...A. summarize the activity in every account.B. cause the revenue and expense accounts to have zero balances.C. are prepared before the financial statements.D. reduce the number of permanent accounts.
Closing entries are prepared before the financial statements.The correct answer is C.
Closing entries are journal entries made at the end of an accounting period to transfer the balances of temporary accounts (revenue and expense accounts) to a permanent account (usually retained earnings). The purpose of these entries is to reset the temporary accounts to zero for the next accounting period so that the revenue and expenses for the new period can be accurately recorded.
The process of closing entries does involve summarizing the activity in every account, but this is not the main purpose of the entries. Closing entries do not cause the revenue and expense accounts to have zero balances - this is accomplished by the entries themselves.
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The Equal Pay Act of 1963 was passed to achieve pay equity between men and women.TrueFalse
The given statement "The Equal Pay Act of 1963 was passed to achieve pay equity between men and women" is true because this Act addressed the gender wage gap and promoted equal pay for men and women.
The Equal Pay Act of 1963 mandated that employers should not discriminate against employees based on their sex, and they should compensate them fairly for the same work performed under similar conditions.
Pay equity refers to the principle that men and women should receive equal pay for equal work, considering the knowledge, skills, experience, and responsibilities involved in the job. Achieving pay equity helps in reducing the gender wage gap and ensuring fair treatment of all employees, regardless of their sex.
To summarize, the Equal Pay Act of 1963 was designed to ensure pay equity between men and women, prohibiting wage discrimination based on sex. This law played a crucial role in addressing the gender wage gap and promoting fairness and equality in the workplace.
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Some lenders charge an up-front fee on a loan, which is subtracted from what the borrower receives. This is typically described as "points" (where on point equals 1% of the loan amount). The federal government requires that this be accounted for in the APR that discloses the loan's cost.
(1) A 5-year auto loan for $20,000 has monthly payments at an 8% nominal annual rate. If the borrower must pay a loan origination fee of 2.5 points, which is the true effective cost of the loan? What would the APR be?
(2) If the car is sold after 3 years and the loan is paid off, what is the effective interest rate and the APR?
(1) For a $20,000 auto loan with a term of five years, monthly payments at 8% nominal APR, and a 2.5 point loan origination fee:
Amount due each month: $405.53
APR for the entire loan (term: 4.83%): $24,331.67 Total amount paid during the course of the loan:
(2) If the loan is repaid and the car is sold after three years:
Loan debt remaining after three years: $8,966.44
Total amount paid over three years: $14,599.00 [3-year annual percentage rate: 6.78%]
Mortgage origination fees were created to assist lenders with covering the costs associated with processing and approving your mortgage. Even lenders who don't typically impose an origination fee might compensate you with a higher interest rate.
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a company has $90,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current balance (before adjustments) in the allowance for doubtful accounts is an $800 debit. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for:multiple choice$5,400$6,200$5,448$4,600$5,352
The amount of the debit to bad debts expense can be calculated by multiplying the outstanding accounts receivable by the estimated uncollectible percentage. In this case, 6% of $90,000 is $5,400.
The company in question uses the allowance method to account for uncollectible accounts. This means that it estimates how much of its outstanding accounts receivable may not be collected and creates an allowance account to offset the potential loss. The company has $90,000 in outstanding accounts receivable, and its experience suggests that 6% of these receivables will be uncollectible.
Before adjustments, the current balance in the allowance for doubtful accounts is an $800 debit. This means that the company has not yet estimated enough for potential losses on uncollectible accounts. To adjust this, the company will need to make a journal entry that includes a debit to bad debts expense.
Therefore, the correct answer to the multiple-choice question is $5,400.
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John goes to the movies on Friday night and pays $10.00 for a ticket. If John had worked instead he could have earned $40.00. What is John's opportunity cost of going to the movie?
John's opportunity cost of going to the movies is $30.00.
The opportunity cost of going to the movies for John is the value of the next-best alternative that he had to give up in order to attend the movie. In this case, the next-best alternative for John was to work and earn $40.00.
To calculate the opportunity cost of going to the movies, we subtract the value of the chosen option from the value of the next-best alternative:
Opportunity cost = value of the next-best alternative - value of the chosen option
In this case, the opportunity cost is:
Opportunity cost = $40.00 - $10.00
Opportunity cost = $30.00
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a tax preparation retail outlet opens many offices around the country to accommodate the tax season. the company has the ability to piece together new offices, expand existing offices, or alter the design for a unique space in a matter of hours. which design consideration related to controlling costs can be seen in this example?
The design consideration related to controlling costs that can be seen in this example is flexibility. By having the ability to piece together new offices, expand existing ones.
The alter the design for a unique space in a matter of hours, the tax preparation retail outlet can adapt to changing demands and avoid unnecessary expenses related to building or renting new spaces. This flexibility allows the company to control costs by only expanding or altering the design when necessary, instead of committing to long-term leases or building contracts.
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on november 19, nicholson company receives a $15,600, 60-day, 5% note from a customer to replace an account receivable. what adjusting entry should be made by nicholson on the december 31 year-end? (use 360 days a year.)
On November 19, Nicholson Company received a $15,600, 60-day, 5% note from a customer as payment on account. The adjusting entry should be made on the December 31 year-end is Debit - Interest receivables $91 and Credit - Interest revenue $91.
The explanation is:
Note = $15,600
Interest rate = 5%
Note received on - Nov 19
Days between Nov 19 - Dec 31 = 42 days
Interest revenue = $15,600 * 5% * 42/360
Interest revenue = $91
Date Account Title Debit
Credit
Interest receivables $91
Interest revenue $91
(Been adjusting entry on the note)
Thus, the adjusting entry should be made on the December 31 year-end is Debit - Interest receivables $91 and Credit - Interest revenue $91.
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which of the following statements is true about data marts? group of answer choices data mart users possess the data management expertise that data warehouse employees have. a data mart is like a distributor in a supply chain, while a data warehouse can be compared to a retail store. data marts address the needs of a particular department or functional area of a business. data marts are larger than data warehouses. data marts contain only metadata for data warehouses.
The true statement about data marts is that they address the needs of a particular department or functional area of a business. Option c is correct.
They are designed to provide specific and focused data to users who require it for their specific business functions. This is in contrast to a data warehouse, which is a centralized repository of all data for an organization. Therefore, data mart users do not necessarily possess the data management expertise that data warehouse employees have, and data marts are not larger than data warehouses.
Additionally, data marts do not contain only metadata for data warehouses. The analogy of a data mart being like a distributor in a supply chain, while a data warehouse is like a retail store, is not entirely accurate as it oversimplifies the complexity of both data marts and data warehouses.
Therefore, option c is correct.
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