Answer:
The value of dollar has depreciated while that of euro has appreciated.
Explanation:
The exchange rate for a currency is the rate at which it can be exchanged for another currency. It is the rate at which one currency can purchase another currency. If in the previous month the US dollar can purchase 0.75 euros then its exchange rate is $1 = 0.75 euros.
If this month a dollar can purchase only 0.70 euros, it implies that the euro is becoming expensive and the value of US dollars is decreasing.
In other words, we can say that US dollars are depreciating and euros is appreciating.
Economics is best defined as the study of_______.
A. financial markets and making money.
B. how people allocate limited resources to satisfy unlimited wants.
C. how to budget personal income.
D. how the government runs the financial system.
Answer:
B. how people allocate limited resources to satisfy unlimited wants.
Explanation:
Lord Robbins in 1932 defined economics as the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
Economics studies how people allocate limited resources to satisfy unlimited wants.
Restore Construction Company enters into a contract to remodel Sam’s Home Store, agreeing to use only products from United Building Supplies. Halfway through the project, Restore refuses to finish the job. The contract can be enforced against Restore by:
Answer:
Sam’s Home Store can enforce the contract against Restore Construction Company
Explanation:
In contract law, only the parties involved in a contract can take action to enforce the contract. In this case Sam' Home Store signed the contract with Restore, so they can enforce it. Any third party beneficiaries from the contract, like United Building Supplies, are not entitled to enforce anything.
The contract between Restore Construction Company and Sam's Home Store, which specifies the use of products from United Building Supplies, can be enforced against Restore if they refuse to complete the project. If Restore has no justification for their refusal, Sam’s Home Store has the right to seek legal enforcement or damages.
Explanation:The question concerns the enforcement of a contract in a scenario where one party, Restore Construction Company, refuses to complete a remodeling project for Sam's Home Store as per their agreement. In legal terms, the contract in question specifies that Restore must use products from United Building Supplies exclusively. When Restore refuses to continue with the project, legal principles come into play to ensure that the contract can be enforced against Restore.
Given that a binding agreement exists and assuming there is no justifiable reason for Restore to abandon the project, Sam's Home Store has the right to seek enforcement of the contract. This could include requiring Restore to complete the job as agreed or potentially seeking compensatory damages for the breach. This scenario highlights the importance of understanding contractual obligations and remedies available when one party does not fulfill their end of the bargain.
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Federal agencies which are required to report a Statement of Custodial Activity have transactions which are similar to which fund type of a state or local government? Question 4 options: Internal service funds Capital projects funds Agency funds Permanent funds
Answer:
Agency funds
Explanation:
A state agency funds' main function is to serve as custodial of funds. Their activities are related to accounting the assets held by the state that belong to individuals, private organizations or other government entities. They function in a similar manner as fiduciary funds do.
Social media sites like StuffDOT are often classified based on two factors; self-disclosure and ________, which is the degree of acoustic, visual, and personal contact between two communication partners.
A) media responsiveness B) involvement C) capture rate D) interactivity E) media richness
Answer:
E) media richness
Explanation:
Based on the information provided within the question it can be said that these sites are often classified as self-disclosure and media richness. Media Richness refers to ability that the media has in regards to transmitting the needed information in a fast and efficient manner, in a acoustic, visual, and personal manner between people.
In every economic system, scarcity imposes limitations on a. households, business firms, governments, and the nation as a whole b. households and business firms, but not the governments c. local and state governments, but not the federal government d. households and governments, but not business firms e. business firms, governments, and the nation as a whole
Answer: a) households, business firms, governments, and the nation as a whole
Explanation:
Scarcity means shortage in availability or supply. It affects all because households, business firms, government will always have a need that must be satisfied. They fall under supplier or consumers. Scarcity can cause higher demand irrespective of the price
According to the __________, companies go through long, simple periods of environmental stability, followed by short, complex periods of dynamic, fundamental environmental change, finishing with a return to environmental stability.
Companies with centralized authority systems typically require multiple layers of management and have ________ organizational structures. broad flexible flat tall
Answer: tall organisational structure
Explanation: In simple words, it refers to a structure in which an organisation is divided into many division and the executive level managers appoints individual managers at every division who are responsible for managing that separate division only.
Such kinds of structure is used in organisation having centralized authority as all the decisions are made by a handful of executives so it is important that they get proper information from the divisional heads that they have appointed. Therefore, managers with proper knowledge are appointed at every stage.
Answer:
tall organisational structure
Some people want healthy cereal that will help them lose weight or possibly prevent certain kinds of cancer. Some want presweetened cereal. Some want fruits and nuts in their cereal. Some people want whole wheat cereal while others want rice cereal. There are some who like hot cereal and others who like to eat their cereal right out of the box. The diversity of consumers for cereal is an example of ________.
Answer:
Market fragmentation
Explanation:
A commercial center where there is no organization that can apply enough impact to move the business a specific way. The market comprises of a few little to medium-sized organizations that contend with one another and huge endeavors.
Fragmented market prompts a littler client base, which makes it simpler for organizations to focus on their end purchasers all the more viably. Instead of squandering promoting assets on an enormous group of spectators, organizations can focus on their showcasing exercises on a littler however progressively pertinent crowd.
The law of comparative advantage indicates thata. specialization and exchange will permit trading partners to maximize their joint output.b. a nation can gain from trade only if it is not at an absolute disadvantage in producing all goods.c. a nation can gain from trade only when its trading partners are not low-wage countries.d. countries should export products for which they are high-opportunity cost producer.
Answer:
The correct answer is option a.
Explanation:
The law of comparative advantage states that a country should produce and export that product in which it experiences comparatively lower opportunity costs. The countries will be said to be specializing in the production of goods and services that they can produce at a relatively lower opportunity cost.
If two countries produce and exchange the goods they specialize in, they will be able to jointly produce more and consume more than they could individually.
Bubba is a shrimp fisherman who catches 4,000 pounds of shrimp per year. He can sell the shrimp for $5 per pound. His average total cost of catching shrimp is $3 per pound. Bubba’s annual total revenue is_______. a. $12,000. b. $32,000. c. $20,000. d. $8,000.
Answer:
Bubba’s annual total revenue is c. $20,000
Explanation:
Revenue is the total amount that comes from sales, regardless of cost.
Bubba catches 4,000 pounds and sell them for $5 per pound, so the total amount (revenue) he receives from selling them is 4,000 * 5 = $20,000
Note: The information about the $3 cost is not necessary to calculate revenue
An example of a frictionally unemployed individual is a. Sylvia, who quit her job to spend more time with her children b. Rod, the lifeguard, who cannot find a job because the temperature is too low in October c. Ileana, a college student who quits her job to return to school d. Steve, an individual does not have skills to keep his job as an aerospace engineer e. Samantha, who quits her job to look for better one
Frictional unemployment refers to the time period between jobs when a worker is searching for, or transitioning from one job to another. The best example in the list given is Samantha, who quit her job and is searching for a better one.
Explanation:The subject of your question pertains to frictional unemployment, which is associated with individuals who are temporarily unemployed, either because they are switching jobs or are searching for a job for the first time. Considering the examples given, the textbook example of a frictionally unemployed individual would be option E, Samantha, who has quit her job to look for a better one. This action leads to a period of unemployment during her job search, even though there are jobs available for her skills. In this case, the friction is caused by the time it takes to match job seekers with job openings.
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Frictionally unemployed individuals are those in the phase of transitioning between jobs or actively seeking new ones. In the provided examples, the frictionally unemployed person is Samantha, who has quit her job to find a better one. This situation is a normal part of the workforce dynamics in a market economy.
Explanation:In economics, an individual is considered frictionally unemployed when they are transitioning between jobs or are in the process of searching for a new job. In the examples given, the frictionally unemployed individual would be Samantha, who quits her job to look for a better one. She is voluntarily leaving her job and actively seeking new employment, which is inherent to the concept of frictional unemployment. However, this is not a bad thing. Given the varying dynamics of the market economy where companies often experience changes, it is essential for individuals to find jobs that match their skills and preferences, not just acquire the first job available.
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Foods International is developing a new gluten-free, chili-flavored pretzel. The marketing strategy for the product has already been developed and presented to top management. Several prototypes were also formulated by the company's R&D team. The final prototype is now being tested rigorously to ensure that it passes FDA standards. Once approved, the next step will most likely be ________.
A) test marketingB) portfolio analysisC) commercializationD) internal marketingE) business analysis
Answer:
Letter A is correct. Test marketing.
Explanation:
Test marketing should be performed immediately after approval of the final product. This is an important tool for the organization to assess the compliance and viability of a new product when it is launched in a competitive market and real consumers.
There are several ways to conduct a marketing test. In one of them, the organization can make the product or marketing campaign available to a limited base of consumers aware or not of their participation to evaluate their answers and questions about the new product.
Once a product, like Foods International's gluten-free, chili-flavored pretzel, passes FDA testing, the company would typically move to the commercialization stage. This involves mass production, implementation of marketing strategies, and customer support roll-out.
Explanation:
The phase that Foods International would most likely move onto after successfully passing FDA testing would be C) Commercialization. Commercialization refers to the process of introducing a new product or production method into the market. Here, the gluten-free, chili-flavored pretzel would be manufactured in large quantities and the company would implement its marketing plan. This would include distribution, promotion, sales, and customer support. The goal during this stage is to maximize market share and achieve a return on the investments made during the product development phases. Test marketing, portfolio analysis, and business analysis would have typically occurred earlier in the product development process.
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Complete the sentence. "When a market failure arises because marginal social benefit exceeds the ability and willingness to pay, economists suggest that" _______.A. demand increaseB. taxes be raisedC. vouchers be usedD. supply increase
Answer:
The correct answer is option C.
Explanation:
Market failure refers to the situation when the market is not able to efficiently allocate resources and the government has to intervene. Market failure generally happens because of the presence of externalities.
When the marginal social cost is greater than the ability and willingness to pay, the market will fail to optimally allocate resources. The government, as a result, will intervene.
The government will use vouchers which will cause the marginal private benefit curve to shift upwards by the size of the per-unit voucher.
The headline of a General Motors advertisement in a recent Reader's Digest magazine read, "I believe these kids will make great engineers. Now I've got to make them believe it." The ad shows an engineer surrounded by seven young people. The ad copy talks about how General Motors believes the more the company puts into the community, the more society will get out of the community. This advertisement is an example of a(n):
A) competitive institutional advertisement.
B) competitive product advertisement.
C) publicity announcement.
D) advocacy institutional advertisement.
E) pioneering institutional advertisement.
Answer:
D) advocacy institutional advertisement.
Explanation:
It is a type of institutional advertising promotion, since it intuits that children will be engineers, which generates that in the future they want to work in the best company for that which would be General, it implies that it is in the hands of General to create favorable situations for that these people develop in society as engineers and that they see General as the best.
Further research by the car wax manufacturer indicated that the proposed product would yield a 10 percent return on the firm’s investment. The car wax manufacturer required a minimum of a 15 percent return to further consider the product. The proposed new product was analyzed on the basis of which new-product planning technique?
Answer:
The correct answer is Business analysis.
Explanation:
Business analysis is the set of methods and techniques used to work as a link between the stackeholders, in order to understand the structure, policies and operations of an organization and recommend solutions that allow the organization to achieve its objectives (IIBA: International Institute of Business Analysis).
Business analysis involves understanding how organizations work to carry out their purposes, and defining the capabilities that an organization requires to provide products and services to external stakeholders. It includes the definition of the objectives of the organization, how those objectives are connected to specific objectives, which determine the lines of action that an organization has to take to achieve those goals and objectives, and define how the different organizational units and stakeholders inside and outside that organization interacts.
A government issued general obligation bonds to finance the construction of a new fire station. In the current year, the government incurred $107,000 of interest expense on the debt. This amount will be reported on the government-wide statement of activities as________.
Answer: The correct answer is "Interest expenses of the governmental activities.".
Explanation: This amount will be reported on the government-wide statement of activities as interest expenses of the governmental activities since it corresponds to interest expenses paid for the issuance of debt to finance government activities.
Consider two cigarette companies, PM Inc. and Brown Inc. If neither company advertises, the two companies split the market and earn $50 million each. If they both advertise, they again split the market, but profits are lower by $10 million since each company must bear the cost of advertising. Yet if one company advertises while the other does not, the one that advertises attracts customers from the other. In this case, the company that advertises earns $60 million while the company that does not advertise earns only $30 million.
If these two companies collude and agree upon the best joint strategy,
a.neither company will advertise.
b.both companies will advertise.
c.PM Inc. will advertise but Brown Inc. will not.
d.Brown Inc. will advertise but PM Inc. will not.
Answer: (A)
If both companies collude and agree on the best joint strategy, then neither of them will advertise.
Explanation:
If PM Inc. and Brown Inc. agree on a strategy that is best for both of them, then they would decide not to advertise as this line of action will earn them both $50 million, which is higher than they stand to earn if they both advertise.
Final answer:
The best joint strategy for the two colluding monopolistic competitors, PM Inc. and Brown Inc., is to not advertise, enabling them to avoid advertising costs and maintain equal market shares, thereby maximizing profits.
Explanation:
The scenario provided with PM Inc. and Brown Inc. represents a classic example of a game theory problem involving collusion and advertising strategies among monopolistic competitors. If both companies collude, the best joint strategy would be for neither company to advertise.
This would maximize their profits as advertising costs would be eliminated without affecting their market share; both companies would retain $50 million. However, monopolistic competition theory suggests that advertising can affect demand elasticity or shift demand curves. Yet in this particular case, the expenditures on advertisement by both firms would simply neutralize each other's efforts, maintaining the status quo and leading to reduced profits.
Furniture Shine is introducing an improved version of its existing wax targeted to owners of antiques. The firm has decided to leave the original wax in the mix aimed towards residential owners. Furniture Shine is employing a _____ product strategy.
Answer:
modified product - multiple markets
Explanation:
This type of strategy consists of offering different products, which are modified versions of some exiting product, to new markets.
In this case, the improved version of the wood wax is a modified version of the old wood wax, and is going to be targeted to a new and specific market (antique owners), while the original version is still going to be targeted at the current market.
Seng is a single mother struggling to raise her family with a low income. In 2006, the Pension Protection Act was passed. This act will not help Seng, because, like 68% of working age Americans, she:
a. can’t afford to contribute her part of this matching retirement plan.
b. doesn’t know that the act was passed.
c. spends too much on cheap consumer goods.
d. doesn’t have an employer-sponsored pension or retirement plan.
Answer:
d. doesn’t have an employer-sponsored pension or retirement plan.
Explanation:
The Pension Protection Act provides for the benefit of employees, which is through their own and employer contributions.
This is a policy to provide benefit at times when the person turns old or is not physically fit to perform any job and this, provides pension in terms of money.
Here, if Seng being a single mother is not eligible for this, means that she did not had any employer who could sponsor her for such plan.
As this pension plan had to be sponsored by the employer Seng might did not had any employer.
RGB Company uses the percentage of receivables method for recording Uncollectible Accounts Expense. The accounts receivable balance is $100,000 at year-end and the total credit sales were $800,000. Management estimates that 4% of receivables will be uncollectible.
What adjusting entry will have to be made if the Allowance for Uncollectible Accounts has a credit balance of $800 before adjustment?
Answer:
The adjusting entry will be:
Dr Doubtful Debt expenses $3,200
Cr Allowance for doubtful Debt $3,200
(to record the estimated allowance for doubtful debt at the end of the period)
Explanation:
The balance of Allowance for Doubtful Debt is estimated at 4% of receivables which is calculated as: 100,000 x 4% = $4,000.
Because the balance of Allowance for Doubtful Debt is $800 (credit) before adjustment entry, an entry is needed to rise the balance of Allowance for Doubtful Debt from $800 to $4,000, or Credit $3,200 to Allowance for Doubtful Debt.
As a result, Doubtful Debt expenses will be debited for $3,200 while Allowance for doubtful Debt will be credited for $3,200.
If a company has been found guilty of using _______________________________________, it means it reduced prices below cost in order to drive competitors out of the market, and then increased prices once competitors had left the market.
Answer: Predatory pricing
Explanation: In simple words, predatory pricing refers to the pricing strategy under which an organisation tries to create a certain level of monopoly by reducing their prices with the objective of demolishing competitors.
Such kind of pricing is generally seen in monopolistic competition where the products offered by competitors are close substitutes. Wall mart is one of the prime examples of an entity using such strategy.
Firms practicing this strategy usually have strong funds and are capable of operating business for a specified period at lower profits.
1. The first digit in the account number 520 means that the account is in the
(A) expense division of the general ledger.
(B) revenue division of the general ledger.
(C) liability division of the general ledger.
(D) asset division of the general ledger.
Answer:
A) expense division of the general ledger
Explanation:
expense division of the general ledger
The first digit in the account number 520 typically indicates that the account belongs to the asset division of the general ledger, following common accounting practices. However, these conventions may vary with different accounting systems.
Explanation:In accounting, account numbers are often used to categorize different types of accounts in the company's general ledger. Understanding the fundamental structure of these account numbers can help keep the accounts organized. As for the student's query about the number 520 and its first digit signifying, the answer to this is (D) asset division of the general ledger.
This is basing on a commonly used numbering standard for the general ledger, where asset accounts are classified under numbers starting with 1 or 5, while liabilities are with 2, equity shares with 3, revenues with 4, and expenses with 6 or 7. However, remember that these standards may vary depending on the company's accounting system.
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Why does the failure of workers and firms to accurately predict the price level result in an upward-sloping aggregate supply curve?
Answer: The correct answer is : Because menu costs and contracts become fixed and companies tend to be slow to adjust wages.
Explanation: The cost of the menu is the cost of changing prices for companies. The widespread use of computers and the internet has reduced menu costs. If the menu costs are eliminated, the short-term supply curve will be of positive slope.
A period marked by rising unemployment and high inflation is called a
Answer:
Stagflation
Explanation:
Stagflation is a period of slow economic growth, rising unemployment rate and high inflation rate.
Stagflation was first noticed in the US in the 1970s.
Stagflation is usually caused by an increase in money supply and a simultaneous decrease in money supply.
Skinner rejected ____ as a valid personality characteristic extinction reinforcements self-control traits
Answer: All of the answers
Preferred stock issued in exchange for land would be reported in the statement of cash flows in
Answer:
The correct answer is a separate schedule.
Explanation:
They are called preferred shares because they have priority over common shares in the payment of dividends or upon settlement, although they are subordinated to the payment of bonds or obligations. Their conditions are negotiated directly between the issuing entity -bank- and the Investor or shareholder. They are a high financial risk asset that can give high bank interest or large losses .
Preferential securities generally do not have the right to vote, but may have priority over common shares in the payment of dividends and upon settlement. Preferential securities may have a dividend that is paid before any dividend that is being paid to common shareholders. Preferential values may have the characteristic of convertibility into common shares. In bankruptcy, preferential investors will be paid with assets before common shareholders and after bankrupt creditors. The conditions of the preferential values are established in a “Certificate of Designation”.
Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to increase daily sales. In order to determine the effectiveness of the advertising campaign, a sample of 49 day's sales were taken. The sample showed an average daily sales of $6,300. From past history, the restaurant knew that its population standard deviation is about $1,000. If the level of significance is 0.01, do the sales increased as a result of the advertising campaign?
Answer:
Yes
Explanation:
The 0.01 percent of the deviation plus the 0.01 percent of the sales average is not enough to get to the $6,300 daily, which means that the factor of the increase sales is the advertising campaign.
Medical Payments coverage provides protection for all of the following except which one?
A. The insured
B. The insured's family
C. Passengers in the insured's vehicle
D. Occupants of a vehicle that is struck by the insured's vehicle
Answer:
B. The insured's family
Explanation:
The medical payments coverage in a car insurance cover medical expenses. This coverage is optional and it will protect the insured and the passengers. Also, if the person insured causes the accident, it will cover the expenses of the occupants of the other vehicle. According to this, the medical payments coverage doesn't provide coverage to the insured's family.
In 2018, Uriah received the following interest payments:
a) Interest of $300 on an overpayment of 2017 Federal income taxes
b) Interest of $400 from his bank certificate of deposit.
c) Interest of $1,000 on municipal bonds
d) Interest of $1,500 on US savings bonds (Series HH)
What amount, if any, should Uriah report as taxable interest income on his 2018 individual income tax return?
a. $0
b. $700
c. $2,200
d. $3,200
e. None of the above
Answer:
C) $2,200
Explanation:
Interest generated by municipal bonds is not taxed by the federal or state governments. While interest generated by US Securities is not taxed by the state governments, but it is taxed by the federal government. The interest generated by her certificate of deposit is taxed as well as the interest earned by the overpayment of prior federal taxes.
$300 + $400 + $1,500 = $2,200
The change in retained earnings is affected by which of the following?
Select one:_________
a. Payment of dividends and common stock.
b. Net income and common stock.
c. Net income and payment of dividends.
d. Net income and paid-in capital.
Answer:
c. Net income and payment of dividends.
Explanation:
The statement of stockholder's equity comprises common stock and retained earnings. The ending balance after adjustment shown in the attached spreadsheet.
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
And, the ending balance of the common stock = Beginning balance of common stock + issued shares
Hence, the appropriate option is c.
Retained earnings are affected by the net income and the payment of dividends. Net income can increase retained earnings, while payment of dividends decreases retained earnings.
Explanation:The change in retained earnings is affected by both net income and the payment of dividends. Option c is the correct choice. Retained earnings refer to the net income that a company keeps after it has paid dividends to its investors. When a company generates net income, it has a choice: it can either distribute these earnings to the shareholders in the form of dividends or retain them within the company. The money that is kept or 'retained' in the business then becomes part of the 'retained earnings'. Conversely, when a company pays dividends, it decreases its retained earnings.
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