Answer:
D.not joining FFA and joining HOSA instead
Answer:
D. not joining FFA and joining HOSA instead
Explanation:
Janice is unsure about her future career path. She has grown up on her family farm, but she is also interested in medicine. Janice becomes a member of the FFA and SkillsUSA to try to learn more about the fields and decide between them. Not joining FFA and joining HOSA instead would be more helpful to Janice.
Havermill Co. establishes a $390 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $87 for Office Supplies, $165 for merchandise inventory, and $36 for miscellaneous expenses. The fund has a balance of $102. On October 1, the accountant determines that the fund should be increased by $78. The journal entry to record the establishment of the fund on September 1 is
Answer:
petty cash 390 debit
cash 390 credit
Explanation:
We are asked for the establishment of the fund
we only need to create the petty cash account for the amount.
And decrease the cash account for the same amount, because is no logner available for other use.
When increasing the found we do thesame entry for the additional cash
If we need to remove the petty cash we will reverse this entry for the full amount
If we need to decrease the petty cashwe will reverse this entry forthe amount deducted
The service cost component of a defined benefit pension plan is computed as the:
Multiple Choice
A. Present value of the change in pension liability from additional employee service.
B. Present value of the change in the accrued pension liability.
C. Undiscounted change in pension liability from additional employee service.
D. Actual value of the change in the accrued pension liability.
Answer: The service cost component of a defined benefit pension plan is computed as the: Present value of the change in pension liability from additional employee service.
The service cost of a defined benefit pension plan is the change in the pension liability caused by one additional year of employee service. Also an expected return on pension plan assets does not cause an increase in the pension expense for a defined benefit plan.
One important difference between capital budgeting and security analysis is that in security analysis the analyst must generally take the projected cash flows as given rather than something the analyst can influence, whereas firms can often influence the cash flows from projects by making operating changes. True or false?
Answer: True
Explanation:
Capital budgeting is the method used in the planning process in the organisations used to evaluate the long term project investing. Security analysis is the method of determining the proper value of debt, equity or hybrid securities of an organisation.
In simple words capital budgeting is an evaluation method and security analysis is the valuation method. Capital budgeting is done fro the data that is usually expected in nature whereas security analysis is done on the data which already exists in market.
Security analysis is done for valuing the securities thus the cash flows are given and we have to use that data for valuation purposes but in capital budgeting we can influence the cash flows as we have an objective to achieve .
Kitchen magazine plans to license the use of its name by a line of cookware. For a magazine, licensing the use of its name for products involves some danger, since if the products disappoint consumers, the magazine's reputation suffers, with consequent reduction in circulation and advertising. However, experts have evaluated the cookware and found it superior to all other cookware advertised in Kitchen. Therefore, Kitchen can collect its licensing fees without endangering its other revenues.The argument above assumes which of the following?(A) No other line of cookware is superior to that which will carry the Kitchen name.(B) Kitchen will not license the use of its name for any products other than the line of cookware.(C) Makers of cookware will not find Kitchen a less attractive advertising vehicle because the magazine's name is associated with a competing product.(D) Consumers who are not regular readers of Kitchen magazine will be attracted to the cookware by the Kitchen name.(E) Kitchen is one of the most prestigious cooking-related magazines.
Answer: Option C
Explanation:
A. In the above case the statement stating superiority of cookware is stated by the experts themselves thus it cannot be considered an assumption.
B. The above case clearly states that the magazine generates revenues from advertising thus it is not an assumption made, actually its a fact stated in the case that magazine will do so.
C. Nothing has been stats about the perspective of the cookware company as they might find the magazine unsuitable as there would be commercials for their competitors. Thus, we can say that it is an assumption.
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and fixed cost of $200. The efficient scale of the firm must be more than, less than, or exactly 100 units?
Answer: Efficient scale occurs at an output level of less than 100.
Explanation:
Given,
Average Revenue (P) = $10,
Quantity (Q) = 100,
Average Total Cost (ATC) = $8
Fixed Cost (FC) = $200
Profit (π) = (P - ATC)×Q
= ($10 - $8)×100
= $200
In a competitive market,
MR = MC.
∵ Marginal revenue equals Marginal cost, Therefore MC = $10.
Average fixed costs (AFC) = [tex]\frac{FC}{Q}[/tex]
= [tex]\frac{200}{100}[/tex]
= $2
Average variable cost = Average total cost - Average fixed cost
= $8 - $2
= $6
Here average total cost is less than the marginal cost and it must be increasing. The efficient scale of the firm occurs when the price is set at minimum average cost.
Hence, efficient scale occurs at an output level of less than 100.
The efficient scale of a profit-maximizing firm in a competitive market can be determined by comparing the average total cost at different levels of output. If the average total cost at the current level of output is the lowest, then the efficient scale is exactly 100 units. Otherwise, the efficient scale must be less than 100 units.
Explanation:A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and fixed cost of $200. To determine the efficient scale of the firm, we need to compare the average total cost at the current level of output to the average total cost at other levels of output. If the average total cost at 100 units is the lowest, then the efficient scale of the firm is exactly 100 units. However, if the average total cost is lower at a different level of output, then the efficient scale must be less than 100 units.
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One cost-of-living indicator available on the internet shows that a salary of $40,000 in santa barbara, california, is equivalent to $14,000 in wichita, kansas. this is primarily because of housing, which is much less expensive in wichita. what does this difference say about how the federal government calculates poverty?
Answer:
it points to a flaw in the way the government calculates the poverty line, as the standard is uniformly applied without regard to regional differences.
Final answer:
The federal government calculates poverty based on a national poverty line, which may not accurately reflect the cost of living in different regions. Regional variations in the cost of living can result in discrepancies between salaries and the poverty line. Some argue for region-specific poverty lines to better capture economic realities.
Explanation:
The difference in cost of living between Santa Barbara, California, and Wichita, Kansas, highlights the challenge of calculating poverty at the national level. The federal government calculates poverty based on a national poverty line, which does not consider the regional variations in the cost of living. This means that the poverty line may not accurately reflect the actual living conditions and expenses in different parts of the country.
For example, the salary of $40,000 in Santa Barbara may be considered above the poverty line due to the higher cost of living in the area, while the equivalent salary of $14,000 in Wichita may fall below the poverty line because of the lower cost of living. This discrepancy shows that the federal government's poverty calculations may not adequately capture the economic realities in different regions.
Considering the regional cost of living differences, some argue that it would be more effective to have region-specific poverty lines that take into account the varying economic conditions across different areas.
With increased access to wireless technology and lighter weight, the demand for tablet computers has increased substantially. Tablets have also become easier and cheaper to produce as new technology becomes available. 1) When consumers purchase tablet computers, the interaction and exchange occurs in the (product/factor) market, 2) while the resources used to produce the tablets are bought and sold in the (product/factor) market.
Answer: The answer is as follows:
Explanation:
(1) When the consumers buy tablet computers, so this exchange will be occurs in the product market because there is a exchange of goods and services between the two parties that the buyer of tablet computers and seller of the same. Product market refers to the market at which there is a buying and selling of goods and services.
(2) Whereas the resources that are used to produce the tablet computers are bought and sold in the factor market. Factor market refers to the market in which there is a buying and selling of inputs that are used to produce certain products.
Finance prepares students for jobs in banking, investments, insurance, corporations, and government. It is important for all business students, no matter what their major is, to understand finance concepts. In addition, finance is useful to all individuals regardless of their jobs as we encounter finance in our everyday lives, such as decisions regarding consumer loans and mortgages. True or false?
Answer:
This statement about finance is true.
Explanation:
Finance can be defined as the study of money management and activities related to it. It is concerned with allocation of assets and liabilities. It can categorized into three types, public, personal and corporate.
Studying finance is important for business students, irrespective of their majors as finance is crucial part of any business and plays a very vital role in the working of any organization. Finance lies at the core of the business decision making. It is thus necessary to understand the concept of finance.
Also, to all individuals, knowledge of finance is helpful as it is involved in our daily lives, in paying our bills and managing our taxes or in loans and mortgages.
Sandra Kristof sells furniture for McKinney Furniture Company. Kristof is having financial problems and takes $650 that she received from a customer. She rang up the sale through the cash register. What will alert Megan McKinney, the controller, that something is wrong?
Answer:The cash register will alert Megan McKinney, the controller, that something is wrong.
In this case the cash register provides control over the cash receipts. When Kristof, took the cash from the register , the records from the register will not match the cash in the register.
The cash in the cash drawer will be $650 lower than the amount recorded in the cash register.
For a restaurant, the logical activity base for wages expense would be a. number of customers. b. number of employees. c. number of restaurants in town. d. None of these choices are activity bases.
Answer: The answer is B, the logical activity base for salary expenses is Number of employees.
Explanation:
For a restaurant, the logical activity base for salary expenses is the number of employees because the more employees you have, the more salary expenses the company will have.
The one variable that stands out as the most significant explanation of large variations in living standards around the world is a. productivity. b. population. c. preferences. d. prices.
Answer:
The answer is (D) productivity.
Explanation:
Each country manages to generate products and operate businesses at a different rate from one another. Those who are able to do more – whether in quality and quantity – tend to do better in living standards than countries that do less. Though this might be occurring in a micro-economic level, the productivity generated by its citizens through these efforts would impact the country on a macro-level; from strengthening the country’s currency to reducing the overall unemployment rate.
The most significant variable explaining variations in living standards globally is productivity, as it influences the efficiency of using capital and technology, leading to higher GDP and living standards.
This is because productivity impacts the economic performance of countries by determining the efficiency with which physical capital, human capital, and technology are used to produce goods and services. Higher productivity leads to a higher standard of living due to relatively inexpensive access to a wide variety of goods and services, high quality health care, and higher life expectancies. Moreover, higher productivity contributes to increased gross domestic production (GDP), and coupled with lower population growth rates, it leads to higher GDP per capita, which is the GDP divided by the population.
The graph represents a mechanic’s labor costs for a given number of hours of car repair. Which statement describes the relationship between labor cost and time for a car repair? (A) All repairs requiring 1 hour or less have the same labor cost. (B) Labor costs the same no matter how many hours are used for a repair. (C) Labor costs for a repair are more expensive as the number of hours increases. (D) There is no cost of labor for a repair requiring less than 1 hour.
Answer:
A on E2020--All repairs requiring 1 hour or less have the same labor cost.
Explanation:
Answer: A (All repairs requiring 1 hour or less have the same labor cost)
Excess supply is created when price or move away from the equilibrium point. true or false
Answer:
true
Explanation:
Excess supply is created when price or quantity move away from the equilibrium point.
An American executive goes to Yemen to finalize a business deal. He hands over his documents to his Yemeni host with his left hand, which Muslims in Yemen consider unclean. Moreover, he refuses to accept the dry fruits that he is offered, a behavior that deeply offends his host. As a result, the American loses the business deal to his Australian counterpart who was better versed in Yemeni ways. The lack of understanding of _____ is most likely to have resulted in the loss of business for the American executive.
A. the business laws in Yemen
B. Yemeni ethics
C. the business trends in Yemen
D. the banking system in Yemeni
E. Yemeni culture
Answer: YEMENI ETHICS
Explanation: Ethics can be defined as the philosophical behavior of an individual governing his understanding towards moral and immoral activities.
In this case the american executive failed to understand and abide the behavior that is considered ethical in the Yemeni society. Shaking hands with left hand and not accepting dry fruits as gifts is not an illegal activity but it does resulted as an offensive action in the eyes of his host.
Answer: Its E im yemeni
Explanation:
The chair of the board of the local Humane Society chose the bank where the organization keeps its money; however, the office manager is the primary person who makes deposits, writes checks, and balances the account every month. The office manager is the ________ in the buying center for the bank account.
Answer:
Here the office manager is the user in the buying center for the bank account.
Explanation:
In this question , where the chair of the board ( of local human society ) selects in which bank , the organization would keep its money but the office manager is the one who is the person who is using the bank account , as he he is the one who is making deposits, writing checks and balancing the accounts etc, so this is the reason why it would not be wrong to call office manager as user in the buying center for the bank account.
The office manager is the 'user' in the buying center for the bank account, as they are responsible for managing the account's day-to-day operations. A buying center includes different roles involved in the purchasing process, where the user is the one who directly interacts with the product or service.
The office manager in the given scenario plays a critical role in the relationship between the local Humane Society and the bank where the organization keeps its money. Since the office manager is responsible for making deposits, writing checks, and balancing the account monthly, they are essentially the primary contact and operator for the bank account on behalf of the organization. In terms of the buying center for the bank account, the office manager is the user.
A buying center is a part of an organization involved in the purchasing decision process. It consists of all the members who play any of the roles in the buying process. The roles include users, influencers, buyers, deciders, and gatekeepers. The user, in this context, is the individual or group that actually uses the product or service. In this case, since the office manager is the one who actively engages with the bank account through deposits, checks, and account management, they fulfill the role of the user in the buying center.
A company manufactures and distributes replacement parts for various industries. As of December 31, year 1, the following amounts pertain to the company's inventory: Item Cost Net replacement cost Sale price Cost to sell or dispose Normal profit margin Blades $41,000 $ 38,000 $ 50,000 $ 2,000 $15,000 Towers 52,000 40,000 54,000 4,000 14,000 Generators 20,000 24,000 30,000 2,000 6,000 Gearboxes 80,000 105,000 120,000 12,000 8,000 What is the total carrying value of the company's inventory as of December 31, year 1, under IFRS?
Answer:
Total Inventory = 191,000
Explanation:
You will have to compare the cost column with the net realisable value.
So you need to do Sale price - Cost to sell or dispose to get the NRV of each one.
Then we compare with the cost, and pick the lowest.
[tex]\left[\begin{array}{ccCCc}$Item&$Cost&$sale price&$cost to sell or dispose&$NVR\\Blades&41000&50000&2000&48000\\Towers&52000&54000&4000&50000\\Generators&20000&30000&2000&28000\\Gearboxes&80000&120000&12000&108000\\\end{array}\right] \\[/tex]
So we have the following:
Blades: 41,000
Towers: 50,000
Generators: 20,000
Gearboxes: 80,000
Total Inventory = 191,000
Harcourt Manufacturing (HM) has the capacity to produce 10,000 fax machines per year. HM currently produces and sells 7,000 units per year. The fax machines normally sell for $100 each. Modem Products has offered to buy 2,000 fax machines from HM for $60 each. Unit-level costs associated with manufacturing the fax machines are $15 each for direct labor and $40 each for direct materials. Product-level and facility-level costs are $50,000 and $65,000, respectively. How much would profit increase (decrease) if HM accepted this special order?
$10,000
$112,000
$10,000
$112,000
Answer:
Increase by $10,000
Explanation:
Calculating current profit
Sales = 7,000 units X $100 = $700,000
Less: Variable Cost, Direct labor $15 + Direct material $40 = $55 each unit
= $7,000 X $55 = $385,000
Less: Fixed Cost = Product level $65,000 + Facility Level = $50,000 = $115,000
Total profit = $700,000 - $385,000 - $115,000 = $200,000
Since the entire production capacity is for 10,000 units and only 7,000 units are produced additional production of 2,000 units is within the limit and will not require additional fixed cost.
Thus profit on sale of these 2,000 units
Sales value = 2,000 X $60 = $120,000
Less: Variable cost per unit of $55 = 2,000 X $55 = $110,000
Profit on these 2,000 units = $120,000 - $110,000 = $10,000
This concludes that profit will increase by $10,000 with this order of 2,000 units.
If there is a surplus in the market for loanable funds, the resulting change in the real interest rate a. raises the quantity of loanable funds supplied and reduces the quantity of loanable funds demanded. b. reduces the quantity of loanable funds supplied and raises the quantity of loanable funds demanded c. raises both the quantity of loanable funds supplied and the quantity of loanable funds demanded. d. reduces both the quantity of loanable funds supplied and the quantity of loanable funds demanded.
Answer:
The correct answer is option b.
Explanation:
A surplus in the market for loanable funds is likely to cause a fall in the interest rate. At lower interest rate, people who need credit will demand more loanable funds. While the suppliers will provide less funds. So, the demand of loanable funds will increase and the supply will decrease.
This process will continue till excess demand will cause the interest rate to rise. The initial equilibrium will be restored eventually.
In the presence of a surplus in the loanable funds market, the real interest rate decreases, which reduces the supply of and increases the demand for loanable funds, addressing option b.
Explanation:If there is a surplus in the market for loanable funds, the resulting change in the real interest rate reduces the quantity of loanable funds supplied and raises the quantity of loanable funds demanded. This answer corresponds with option b. In an open market, when there is a surplus of loanable funds, this typically exerts downward pressure on the real interest rate.
As the real interest rate decreases, the cost of borrowing becomes cheaper, which, in turn, increases the demand for loanable funds. Conversely, the incentive for saving decreases due to lower returns on savings, which reduces the supply of loanable funds. This mechanism is how the market moves towards equilibrium, balancing supply and demand through adjustments in the real interest rate.
Don’s Fashions is noticing a downward trend in sales. The company has been reaching out using social media to connect with customers which they define as “fashion forward consumers between the ages of 15-30.” However, lately it seems that very few people are responding to the social media promotions. How could Don’s Fashions check to see if they are reaching out to the best potential customers who would likely purchase their products?
a. Don's Fashions could conduct market research to validate their target market.
b. Don's Fashions could design a better website with more graphics that would appeal to their target market.
c. Don's Fashions can try using a different social media site to reach customers.
Answer: In such situation Don's Fashions could conduct market research to validate their target market.
Explanation: It's given that Don’s Fashions is noticing a downward trend in sales. The company has been reaching out using social media to connect with customers which they define as “fashion forward consumers between the ages of 15-30.” However, lately it seems that very few people are responding to the social media promotions.
Therefore at this particular stage they can decide to conduct a thorough market research to validate their target market and see it their marketing and strategies have been able to penetrate the market they were targeting.
To ascertain if they are reaching out to the right potential customers, Don's Fashions can conduct market research, make improvements to their website and experiment with different social media platforms. Conducting market research should be their primary strategy to accurately identify their customer's behaviour and preferences.
Explanation:
Don's Fashions could explore several methods to ascertain if they are reaching their best potential customers. Option A suggests conducting market research which can help the company verify whether their defined target market is correct. By using surveys, focus groups, or data analysis, they can glean valuable insights into their customer's preferences, motivations and buying patterns.
Option B indicates the need for a digital presence upgrade. Improving their website and making it more appealing could potentially attract their target audience. However, without definitive research to gauge their target audience's digital preferences, this approach could prove less effective.
As to Option C, they can certainly experiment with different social media platforms. Different demographics may prefer different social platforms and switching could provide them the opportunity to reach a broader or more specific audience. This being said, all these actions should be based on data obtained from a thorough market research.
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White-Collar Crime. Matthew Simpson and others created and operated a series of corporate entities to defraud telecommunications companies, creditors, credit reporting agencies, and others. Through these entities, Simpson and the others used routing codes and spoofing services to make long-distance calls appear to be local. They stole other firms’ network capacity and diverted payments to themselves. They leased goods and services without paying for them. To hide their association with their corporate entities and with each other, they used false identities, addresses, and credit histories, and issued false bills, invoices, financial statements, and credit references. Did these acts constitute mail and wire fraud?
Answer: These acts constitute as mail and wire fraud.
The respective fraud sculpture jots the condition that authorities have to prove that utilization of either mail service or wire communications in the predictable future, of a scheme to defraud, pertaining to a substantial deceit with the purpose to withhold another individual of either belongings or services.
In versioning, the firm makes a high-quality product, version A, and sets a high price for one market segment. The firm also degrades this product to produce version B. It offers version B for a lower price to a different segment of customers. Is there an ethical issue here
Answer:
Pricing products of different versions is not an ethical issue, but an economic one.
Explanation:
When a company decides to price a product, there are a number of factors that lead to the value that will be added to that product. In short, when pricing a product, the company will consider the costs of producing and transporting it, the quality of the product, the raw material used, the demand for that product, and the audience for which it is intended. Pricing is a strategic retail activity, especially for those dealing with a large number of products.
In the case of the company that degraded version A of a product, with the objective of launching a version B of the same product in lower quality and lower price, we can say that what happened there was a sales strategy that does not necessarily involve an ethical issue. .
The company has degraded version A of the product, to offer the same product to a less economical audience, as the version B of the product has a lower quality its price will also be lower and more accessible to the entire population, but this does not prohibit no one to buy version A, which is more expensive and with higher quality.
While figuring out how to save money for a bride who is having financial problems, Paula, the catering manager, asked her assistant, "What do you think is the best menu to offer under these particular circumstances?" Paula and her assistant are trying to use the contingency approach.
Answer: True, Paula and her assistant are using contingency approach.
Explanation: As per the contingency approach every organization is different and require different management ways. Also known as situational approach, contingency approach is a management concept stating that there is no one universally applicable set of management principles.
When Elle's Espresso Bar raised its price by 10 percent, the quantity of coffee that Elle sold decreased by 40 percent. When Elle and all her competitors cut their prices by 10 percent, the quantity of coffee sold by Elle increased by only 4 percent. Explain the difference between the responses to Elle's price hike and the price cut. Why did the price increase bring a large response in the quantity sold while the price cut had only a small effect?
A. The change in the quantity demanded is always larger with a price hike than with a price cut.
B. With a price hike the demand for Elle's coffee is inelastic, but with a price cut the demand for Elle's coffee is elastic.
C. Elle's coffee has lots of dose substitutes while coffee has few substitutes, so the demand for Elle's coffee is more inelastic than the market demand for coffee.
D. Elle's coffee has lots of dose substitutes while coffee has few substitutes, so the demand for Elle's coffee is more elastic than the market demand for coffee.
Answer: Elle's coffee has lots of close substitutes while coffee has few substitutes, so the demand for Elle's coffee is more elastic than the market demand for coffee.
Here, it can be seen that when Elle's Espresso Bar raised its price by 10 percent, the quantity of coffee that Elle sold decreased by 40 percent, whereas when Elle and all her competitors cut their prices by 10 percent, the quantity of coffee sold by Elle increased by only 4 percent.
∴ The demand for Elle's coffee is more elastic than the market demand for coffee.
Answer:
D. Elle's coffee has lots of dose substitutes while coffee has few substitutes, so the demand for Elle's coffee is more elastic than the market demand for coffee
Explanation:
When Elle's Espresso Bar raised its price by 10 percent, the quantity of coffee that Elle sold decreased by 40 percent. When Elle and all her competitors cut their prices by 10 percent, the quantity of coffee sold by Elle increased by only 4 percent. Explain the difference between the responses to Elle's price hike and the price cut. Why did the price increase bring a large response in the quantity sold while the price cut had only a small effect?
D. Elle's coffee has lots of dose substitutes while coffee has few substitutes, so the demand for Elle's coffee is more elastic than the market demand for coffee
it is D because
It can be seen that the demand is more elastic. This when the percentage change in quantity demanded for a particular goods is greater than the percentage change in price
Mike, a U.S. citizen, buys $1,000 worth of olives from Greece. By itself this purchase
a. increases U.S. exports by $1,000 and increases U.S. net exports by $1,000.
b. increases U.S. exports by $1,000 and decreases U.S. net exports by $1,000.
c. increases U.S. imports by $1,000 and increases U.S. net exports by $1,000.
d. increases U.S. imports by $1,000 and decreases U.S. net exports by $1,000.
Answer:
d. increases U.S. imports by $1,000 and decreases U.S. net exports by $1,000.
Explanation:
There are two types of international trades, import and export
Import refers to the trade where the principal country buys goods from another country and takes goods.
Export refers to the trade in which the principal country sells goods from own country and send to the buyer country.
Here principal country is the country of concerned person Mike that is US
Since he purchased he bought goods i.e. Olives from Greece into US.
That means he made a import.
With this US import rises by $1000,
Further net exports = Total export - Total import
Since with this transaction total imports increased by $1,000 net exports will decrease by $1,000
d. increases U.S. imports by $1,000 and decreases U.S. net exports by $1,000.
Question Help After suffering two years of staggering hyperinflation, the African nation of Zimbabwe officially abandoned its currency, the Zimbabwean dollar, in April 2009 and made the U.S. dollar its official currency. Someone in Zimbabwe would have been willing to accept U.S. dollars in exchange for goods and services because A. the exchange rate was low. B. U.S. dollars were a good store of value. C. it was too expensive to keep producing a local currency. D. U.S. dollars had a lower price level.
Answer: Someone in Zimbabwe would have been willing to accept U.S. dollars in exchange for goods and services because U.S. dollars were a good store of value.
A store of value can be stated as an entity that keep its value without disparaging over the period of time.
Barry has a medical insurance plan with a $250 deductible and a 20 percent employee co-payment above the deductible with an annual co-payment cap of $1,500. What is the total level of medical expenses he must reach each year before he can stop paying?
Answer:
i am not very sure but it could be
20percent of $1500
Answer:
$7,750
Explanation:
Barry must first pay his deductible ($250) and then he has to pay a 20% copay on all expenses above the deductible, but the copay cap is $1,500, so the maximum copay that Barry needs to pay is $1,500. The $1,500 copay would represent a total medical expense of $7,500 (= $1,500 / 20%).
Si the total level of medical expenses that Barry must reach before he can stop paying = $250 + $7,500 = $7,750. At this amount Barry will have paid $250 (deductible) + $1,500 (copay) = $1,750
Consumer surplus is A. a buyer's willingness to pay for a good plus the price of the good. B. the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it. C. the amount by which the quantity supplied of a good exceeds the quantity demanded of the good.
Answer:
B. the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.
Explanation:
a consumer surplus is the amount that exceeds the amount that a consumer actually pays for a product and the amount they are willing to pay
Castle Brew Inc., a leading multinational beverage manufacturing company, coordinates with Waste Yard Inc., a waste management company, to devise a strategy that would help in recycling and reusing beverage bottles. Castle Brew Inc. plans to install hundreds of machines that would recycle empty bottles in many locations and provide rewards to those consumers who participate in the initiative. The company believes that this initiative would help protect the environment. In this scenario, Castle Brew Inc. is practicing _____.
Answer:
Socially responsible business
Explanation:
The company is investing in save the enviroment, so it is assuming his role inside the society. It is performing a policy which does not seek profit, it seeks to generate a better and sustainable community and world.
It reduces waste and promotes recicling
Castle Brew Inc. is practicing Corporate Social Responsibility (CSR) by collaborating with Waste Yard Inc. to devise a strategy for recycling and reusing beverage bottles. This initiative acts as a form of a 'pollution tax', encouraging consumers to participate in the environmentally friendly practice.
Explanation:Castle Brew Inc., a multinational beverage manufacturing company, is practicing Corporate Social Responsibility (CSR). By partnering with Waste Yard Inc., Castle Brew Inc. is taking an initiative to protect the environment via recycling and reusing of beverage bottles. Rather than externally imposing command-and-control regulations, the company is voluntarily stepping forward and devising strategies to handle waste management effectively.
By installing machines to recycle empty bottles and providing rewards, Castle Brewery is akin to implementing an eco-friendly form of a 'pollution tax'. This acts as incentive for consumers to participate in the initiative, thereby reducing pollution in a flexible and cost-effective way.
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Shelli manages a small boutique in Israel. Her intern just approached her with a new design for her Web site. Shelli likes the design, and tells the intern that he is quite the artist. The intern confides that he found the design on the Internet. Shelli replies that they can’t use it. Her decision reflects which ethical issue related to IT? A. Privacy B. Accuracy C. Accountability D. Property (such as intellectual property) E. Accessibility to information
Answer:D. Property
Explanation:
The intellectual property is known as the non-material assets of a company that involves knowledge and company identity; it may include image, know-how, brands, patents, company name, etc. When Shelli rejects to use a design found on the internet, she respects the intellectual property of another company and protect her small boutique from a possible legal infringement.
7. At a price of $2.00, total surplus is A. larger than it would be at the equilibrium price. B. the same as it would be at the equilibrium price. C. smaller than it would be at the equilibrium price. D. There is insufficient information to make this determination.
Answer: Option (D) is correct.
Explanation:
There is insufficient information for making any comments on the total surplus when price is $2.00.
Total surplus is a combination of two components that are producer surplus and consumer surplus.
we are not able to comment anything on total surplus untill we have some details on equilibrium price. Once the details of equilibrium are available then we are able to measure total surplus.
Final answer:
Total surplus at a price of $2.00 is smaller than at the equilibrium price. A price floor has the largest effect when it is set substantially above the equilibrium price, creating a larger surplus. A price ceiling's largest effect occurs when set substantially below the equilibrium, causing a significant shortage.
Explanation:
At a price of $2.00, total surplus is C. smaller than it would be at the equilibrium price. Equilibrium price is defined as the price at which quantity demanded equals quantity supplied. Any price other than the equilibrium results in either excess supply or excess demand, leading to a decrease in total surplus, which is the sum of consumer surplus and producer surplus.
When discussing a price floor, it will have the largest effect if it is set substantially above the equilibrium price. This is because it would cause the greatest discrepancy between the quantity demanded and quantity supplied, resulting in a larger surplus of goods. In contrast, a price ceiling will have the largest effect if it is set substantially below the equilibrium price, as this would cause a significant shortage by increasing the quantity demanded and decreasing the quantity supplied.