Answer: D: the price of one country's currency in terms of another's.
Explanation: the number of units of a local currency required to exchange for another number of units of a foreign currency is called the nominal exchange rate.
For example, if £1 = $1.5, it means that one pound is required to exchange for two American dollar.
After winning a huge contract to build an expressway, AZ Builders Corp. has decided to create a cross-functional team that will be made up of experts from different fields, including civil engineers, architects, and accountants. The company's board of directors also decides to institute a one-month training program for this group in order to help them shape the goals and plans to implement this project. In this example, the focus of change is ________.
Answer:
staff
Explanation:
Based on the information provided within the question it can be said that the the focus of change is the staff. This is because the AZ Builders Corp. is using the huge contract that they just won in order to create highly skilled team that would be able to complete various tasks. Therefore making changes to the company's staff with highly skilled new members .
Omaha Steaks sending e-mail coupons for items customers have purchased previously, and mailing slick pictures of gourmet steaks and meal packages to addresses that have received orders in the past is an example of _______.
A) sales promotion
B) direct marketing
C) personal selling
D) advertising
Answer:
B) Direct marketing
Explanation:
Omaha is using direct marketing which is a type of targeted marketing. This specific form of direct marketing is through email . It is marketing to customers who had made purchases before since they are likely to buy again. It could also take other forms such as mailing brochures and newsletters, texting or even through directly calling. Additionally, it eliminates middleman such as advertising agencies.
Omaha Steaks sending personalized email coupons and mailed advertisements to customers relates to direct marketing, which essentially targets consumers directly.
Omaha Steaks sending e-mail coupons for items customers have purchased previously, and mailing slick pictures of gourmet steaks and meal packages to addresses that have received orders in the past is an example of direct marketing. Direct marketing is a type of promotion where companies communicate directly to the consumer through various methods of contact. These methods often include letters, catalogs, direct mail, e-mails, text messages, and telemarketing messages. The goal is to convey a compelling business message, such as dramatic news or a money-saving coupon, to encourage purchases.
Jordan Industries produced 6,000 units of product that required 1.5 standard hours per unit. The standard variable overhead cost per unit is $2.75 per hour. The actual variable factory overhead was $29,000. Determine the variable factory overhead controllable variance.
a. $4,250 favorable
b. $4,250 unfavorable
c. $20,000 favorable
d. $20,000 unfavorable
Answer:
b. $4,250 unfavorable
Explanation:
The computation of the variable factory overhead controllable variance is shown below:
= Actual variable factory overhead - standard variable factory overhead
where,
Standard variable factory overhead equals to
= 6,000 units × 1.5 standard hours per unit × $2.75 per hour
= $24,750
And, the other items values would remain the same
Now put these values to the above formula
So, the value would be equal to
= $29,000 - $24,750
= $4,250 unfavorable
A method of estimating the amount of bad debt expense whereby management establishes a percentage relationship between the amount of receivables and the expected losses from uncollectible accounts is called _________________.
Answer: provisions
Explanation: According to ias 37
An ad for the General Electric Advantium microwave shows people rushing from one place to another and has the headline, "If your life moves this fast, maybe your oven should too." According to the ad, even though there never seems to be enough time to cook, this microwave will help you prepare home-cooked meals. This is an example of the use of a _____ executional style.
Answer:
lifestyle
Explanation:
Based on the information provided within the question it seems that this is an example of the use of a lifestyle executional style. This is a style that refers to demonstrating how a certain product would be useful to an individuals lifestyle choice. Which in this scenario the ad for the microwave is catering to individuals with a hectic lifestyle that are always rushing from place to place and need a fast home cooked meal.
An investor has purchased stock in a firm. The investor believes that , at the end of the year, there is
0.10 probability that the stock will show a $6,000 profit,
0.30 probability that the stock will show a $4000 profit and
0.60 probability that the stock will show a $2000 loss.
The expected profit is $600.
If the best profit increases by $1000 from $6000 to $7000, the expected profit?
A. Will remain unchanged
B. Will increase by $10
C. Will increase by $100
D. Will increase by a $1000
E. None of the above
Answer:
C) Will increase by $100
Explanation:
We can calculate the expected profit by adding:
$6,000 x 10% = $600
$4,000 x 30% = $1,200
-$2,000 x 60% = -$1,200
expected profit = $600
If best profit increases to $,7000 then the new expected profit will be:
$7,000 x 10% = $700
$4,000 x 30% = $1,200
-$2,000 x 60% = -$1,200
expected profit = $700
The new expected profit is $100 larger than the previous expected profit.
Organizations known as ________ have a significant role in the economic recovery. Some start-up businesses have successfully found sources of capital by going through one of these organizations.
A. ARMs (Adjusted Rate Mortgage lenders)
B. PACs (Personal Asset Collateral funds)
C. Venture Capitalists
D. CDIFs (Community Development Financial Institutions)
Answer:
D
Explanation:
The Community Development Financial Institutions Fund (CDFI Fund) plays a major role in causing economic growth and solutions in some of the nation’s most distressed communities. They offer tailored resources and creative programs that invest federal dollars alongside private sector capital, the CDFI Fund serves mission-driven financial institutions that take a market-based approach to supporting economically disadvantaged communities.
Financing busineese, creating jobs building homes is a critical step in the transformation of a life, a family, and a community. This is real change. This is what the CDFI Fund does to the community.
The best way to limit competition is to: Choose one: A. control a resource that is essential in the production process. B. lobby for a government-created barrier. C. produce a high quantity. D. charge a low price. E. minimize costs.
Answer:
A. control a resource that is essential in the production process.
Explanation:
When the crucial resource is required to make a product, then the restrictions on such resource would not allow, many people to enter in such business.
Also that the resources will be restricted in some or other manner, its price will increase accordingly the cost of producing such article would also increase.
As the cost of production will increase only producers with a high budget and resources in terms of finance will chose it.
Because _____ are purchased frequently, the appropriate strategy is to make them available in many locations, charge only a small markup, and advertise heavily to induce trial and build preference.
Answer:
Nondurable Goods.
Explanation:
Non-durable goods are tangible goods that are used only once or rarely. That is, they are those to be consumed immediately, for example chocolate, soap, ice cream, beer. These are frequently acquired assets, so strategic efforts should focus on distribution and availability to achieve strategic and economic benefits.
Basix Inc. calculates direct manufacturing labor variances and has the following information: Actual hours worked: 200 Standard Hours: 250 Actual rates per hour: $ 12 Standard rate per hour: $ 10 Given the information above, which of the following is correct regarding direct manufacturing labor variances?
a. The price and efficiency variances are favorable.
b. The price and efficiency variances are unfavorable.
c. The price variance is favorable, while the efficiency variance is unfavorable.
d. The price variance is unfavorable, while the efficiency variance is favorable.
Answer:
The price variance is unfavorable, while the efficiency variance is favorable
Explanation:
To determine the labor efficiency variance, we will use the following formula: Variance = (standard hours – actual hours) x standard rate = variance = (250 hours – 200 hours) x $10 per hour = 50 hours x $10 per hour = $500 favorable
To determine the labor price variance, we will use the following formula: variance = (standard rate - actual rate) x standard hours = ($10 per hour - $12 per hour) x 250 hours = -$2 per hour x 250 hours = -$500 unfavorable
Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment.
Answer:
The correct answer is 28 million.
Explanation:
In Marxist theory, the work force (or work capacity) is the set of physical and mental abilities, inherent in every human being, capable of being used for the production of a use value.1 It differs from work , which is the implementation of the workforce.
According to Marx's labor-value theory, the value of the labor force, like that of any other commodity, is determined by the socially necessary labor time to produce it. In this case, because it is a special commodity, its value is determined by the time of work socially necessary to produce the means of existence and reproduction of the worker, that is his and his descendants. This is the value of the mass of goods that constitute the average consumption basket of the working class. The value of the workforce includes a social, historical and cultural character. In a given time and society, we can consider that the value of the workforce is known. For Marx, the labor force can transcend according to what one can accumulate, since wealth is the origin of the bourgeois class and this in turn feeds the working class.
Which of the following cooking methods would produce food with a smoky, slightly charred flavor? A. Saut ing B. Grilling C. Roasting D. Baking
Answer:
B
Explanation:
Grilling is the cooking method that would produce food with a smoky, slightly charred flavor.
The country of Growpaw does not trade with any other country. Its GDP is $20 billion. Its government purchases $3 billion worth of goods and services each year, collects $4 billion in taxes, and provides $2 billion in transfer payments to households. Private saving in Growpaw is $4 million. What is investment in Growpaw?a. $5 billion
b. $4 billion
c. $3 billion
d. $2 billion
Answer:
C) $3 billion
Explanation:
Step one: calculate disposable income
Disposable income = GDP - taxes collected + transfer payments
Disposable income = $20 - $4 + $2 = $18
Step two: calculate private consumption
Private consumption = disposable income - savings
Private consumption = $18 - $4 = $14
Step three: calculate investment
Investment = GDP - consumption - government purchases
= $20 - $14 - $3 = $3
Conscious low-effort decision-making can follow a hierarchy of effects in which: Select one:______
a. selection of brands is done based on overall evaluations.
b. brands are selected after comparing the attributes of each brand.
c. thinking leads to behaving and results in feeling.
d. attention to marketing communications regarding that brand is evaluated.
e. only the product category information is carefully considered.
Answer: The correct answer is "c. thinking leads to behaving and results in feeling.".
Explanation:Conscious low effort decision making can follow a hierarchy of effects in which thinking leads to behavior and results in feeling. Because when making conscious decisions of low effort the consumer agrees to think and in turn these thoughts lead to feelings that are reflected in a behavior.
Advertising agencies often provide the IMC function of comparing their customer's target audience with the viewer, listener, or reader profile of the communication channel being considered. The agency is most likely trying to avoid noise problems associated with
Select one:
a. a poor choice of medium.
b. an extended feedback loop.
c. lack of clarity in the message.
d. competing messages.
e. a flaw in the medium.
Answer:
Correct option is (a)
Explanation:
Selection of appropriate medium to reach out to target customer is one of the most important function of advertising. In case of selection of inappropriate medium, could lead to wastage of resources, time, money and effort as organization will not be able to tap target customers.
This is the reason that advertising agencies identify target customers with their preferred choice of seeking information whether television, radio or newspaper so that they can select the customer preferred medium to promote the product, thereby eliminating poor choice of medium.
Green Valley Steel had sales of $1,000,000 and collections of $760,000, leaving a balance of $240,000 in accounts receivable as of December 31, 2021. Analysis indicates it expects to collect $200,000 of its accounts receivable. How would it set up an allowance for uncollectible accounts?
A. Debit accounts receivable for $40,000 and credit bad debts for $40,000
B. Debit bad debt expense for $40,000 and credit allowance for uncollectible accounts for $40,000
C. Debit allowance for uncollectible accounts for $40,000 and credit accounts receivable for $40,000
D. Debit allowance for uncollectible accounts for $40,000 and credit bad debts for $40,000
Answer: d
Explanation:
Shen manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday, he immediately goes out and buys all the goods he will need over the next two weeks in order to prevent the money in his wallet from losing value. What he can't spend, he converts into a more stable foreign currency for a steep fee. This is an example of the of_____________inflation.a. menu costsb. shoe-leather costsc. unit-of-account costs
Answer:
The correct answer is option b.
Explanation:
Shen is working in a country where the inflation rate is high.
He gets a salary every two weeks.
After receiving his salary he immediately goes out and buys all the goods he is going to need over the next two weeks.
He converts the remaining salary in a more stable currency.
He does this in order to prevent his salary from losing purchasing power.
This effort that he is making to prevent his real income from losing value is called the shoe-leather cost of inflation.
The shoe-leather cost can be defined as the cost of time and effort made to prevent the cash holdings from losing their value.
If the expected inflation rate increases and the natural rate of unemployment remains constant, then _______.A. the long-run Phillips curve shifts rightward and the short-run Phillips curve shifts rightward.B. neither the long-run Phillips curve nor the short-run Phillips curve shifts.C. the short-run Phillips curve shifts upward and the long-run Phillips curve does not shift.D. the long-run Phillips curve shifts rightward and the short-run Phillips curve does not shift.
Answer:
C. The short-run Phillips curve shifts upward and the long-run Phillips curve does not shift.
If the expected inflation rate increases and the natural rate of unemployment remains constant, then the short-run Phillips curve shifts upward and the long-run Phillips curve does not shift. Thus, the correct option is C.
The reason for this is that the short-run Phillips curve reflects the temporary trade-off between inflation and unemployment.
When inflation expectations rise, workers demand higher wages to keep up with the rising prices, leading to higher production costs and reduced employment in the short run.
However, in the long run, the long-run Phillips curve is vertical at the natural rate of unemployment, indicating no long-term trade-off between inflation and unemployment.
Milton Friedman explained this concept by stating that there is no permanent trade-off between inflation and unemployment.
Soapsuds Inc., a manufacturer of cleaning agents, supplies its products to All Needs Inc., a supermarket chain. It demands that All Needs create more shelf space in its stores for Soapsuds' products. However, All Needs Inc. refuses to do this. Instead, it decides to produce its own range of cleaning agents with its own label "All Wash." In this scenario, All Needs Inc. has exercised its bargaining power as a buyer through _____.
A) forward integration
B) product differentiation
C) backward integration
D) crowdsourcing
Answer:
C) backward integration
Explanation:
It seems that All Needs Inc. has exercised its bargaining power as a buyer through backward integration. This term refers to a process undertaken by a company where they purchase subsidiaries or internally creates inputs needed for their production. Which the latter seems to be the case in this scenario since Soapsud Inc. is producing their own range of cleaning agent in order to progress their supply chain.
The majority of the customers (~80%) of Rolls Royce are entrepreneurs, people who are running their own businesses, and these are mainly self-generated rather than inherited money. What marketing strategy will Theodore Levitt suggest to Rolls Royce as T. Levitt argues that modern transportation and communication technologies are facilitating the convergence of certain tastes and preferences among consumers? ?
A. Standardized marketing strategy
B. Diversified marketing strategy
C. Segmented marketing strategy
D. Local marketing strategy
Answer:
A.
Explanation:
Based on the statistics that Rolls Royce has gathered on it's customers it can be said that the best marketing strategy to suggest for them would be a Standardized marketing strategy. This refers to using the same marketing strategy regardless of geographical location and cultures. Mostly because the vast majority of their customers are of the same class type and mindset and would continue buying their products as long as they maintain the same strategy and quality.
Smith, a single individual, made the following charitable contributions during the current year. Smith’s adjusted gross income is $60,000.
Donation to Smith’s church: $5,000
Art work donated to the local art museum
(Smith purchased it for $2,000 four months ago and a local art dealer appraised it for): $3,000
Contribution to a needy family: $1,000
What amount should Smith deduct as a charitable contribution?
a. $7,000
b. $8,000
c. $5,000
d. $9,000
Answer:
A) $7,000
Explanation:
Smith can deduct the $5,000 he donated to the church he attends. The art work donated to the local museum must be deducted at its basis, which is $2,000. Since he only purchased the painting 4 months before, the price increase will be considered a short term capital gain. Donated short term capital gain property must be deducted at basis.
The $1,000 he donated to the needy family is not deductible, since it wasn't a qualifying organization.
Ben is a member of the electricians' union, which is currently striking against Rawlings Manufacturing. However, Ben does not support the strike and does not want to participate, so he is continuing to work at Rawlings. As a result, Ben could be fined as high as ________ percent of his wages.
Answer:
60%
Explanation:
The union cannot prohibit Ben from going back to work but they can take disciplinary action against him for doing so. Federal courts have ruled in favor of different unions regarding disciplinary actions and as long as Ben remains a union member he can be fined, but not forced to resign. If Ben wants to avoid paying the fine, he should leave the union before going back to work.
Econ final Which of the following government actions is likely to stimulate the economy?
A) Increase income taxes and increase government spending
B) Decrease income taxes and decrease government spending
C) Decrease government spending and increase incomes taxes
D) Increase government spending and decrease income taxes
Answer: (D).
Increase government spending and decrease income taxes
Explanation:
According to John Maynard Keynes, when an economy is in depression (economic activities are low and unemployment is high), people and businesses are afraid to spend and invest.
Therefore the government should increase its spending and reduce income tax. This will increase demand and create employment thereby stimulating the economy.
Assume that during 2020, Cypress Semiconductor Corporation reported net cash provided by operating activities of $155,410,000, net cash used in investing activities of $207,390,000 (including cash spent for plant assets of $132,895,000), and net cash used in financing activities of $33,360,000. Dividends of $4,140,000 were paid. Calculate free cash flow.
Answer:
$18,375,000
Explanation:
The free cash flow is determined by adding all the cash that is generated by operating activities and subtracting capital expenditures. Capital expenditures include distributed dividends and cash spent for fixed assets.
free cash flow = $155,410,000 - ($132,895,000 - $4,140,000) = $155,410,000 - $137,035,000 = $18,375,000
Used in the introductory stage of the product life cycle, _________ advertisements tell people what a product is, what it can do, and where it can be found. A. reinforcement B. pioneering C. institutionalD. reminderE. competitive
Answer:
Pioneering advertisement.
Explanation:
Pioneering advertisement is a kind of campaign launched by the company to introduce the product to the market and buyer. It is also known as informational advertising as it is used to inform consumer about the new product or if entire new concept is been launched. It inform the usage and benefit to the consumer. It require a focused advertising with good PR strategy to send right message to the consumer. It is heavily used at the introductory stage of the product life cycle.
What conditions stop the economy from growing and turn an expansion into a contraction?
Answer: External Shocks
Explanation: External Shocks are unpredictable changes that occur outside the economy that lead to changes to the economy. External shocks can directly affect imports and exports within an economy or indirectly affect the fall of a company or organisation. External shocks can have negative and positive effects on the economy. Examples of positive external shocks can be tax cuts or interest rate cuts. Examples of negative external shocks can be volatile oil and gas prices. Negative external shocks prevent the economy from growing, leading to changes in the economy, for example from the expansion phase decreasing to the contraction phase within the economy.
The Drof Motor Company has created an exciting new vehicle, the Terminator. One reason that the company is so excited about this vehicle is that once the 60,000-mile warranty ends, the vehicle will begin to experience mechanical problems generating more service income for the company. This behavior isA.illegal and ethical. B.legal and ethical. C.illegal and unethical
Answer:
legal but unethical
Explanation:
Based on the information provided within the question it can be said that this is both legal but unethical. This is because even though what the company is doing is not breaking any laws, it is still wrong because they know about the imminent failure of their product function before release and are not fixing it because it will generate them more income as people begin to bring the products in for fixing, which they will get charged for.
**There might be an answer choice missing which is the correct answer that i mentioned above for this question**
Barney takes his wife Betty to a Porsche dealership and tells her to pick out whichever car she wants as a birthday present. She chooses a red Boxter. Barney negotiates a price with the dealership and signs a contract paying cash for the car. Barney repeatedly tells the dealer that the car is a gift for his wife. The car is to be serviced and picked up at 10:00 a.m. the next morning. Barney dies that night. When Betty arrives at the dealership to get the car, they refuse to give it to her because only Barney signed the contract?
Answer:
The car should be given to Betty because Barney already have a contract with the dealer and he has stated explicitly in the terms to the contract that the car belongs to his wife. Porsche dealer should be prosecuted for breach of contract in the court of law.
Explanation:
Traditionally, Fed policymakers have been ________ to use higher interest rates to head off potential asset bubbles ________.
A. hesitant; because it would most likely result in rapid increases in inflation
B. eager; even though it may cause a slowdown in the economy
C. eager; because it would most likely result in sustained deflation
D. hesitant; because it may cause a slowdown in the economy
Answer:
D) hesitant; because it may cause a slowdown in the economy
Explanation:
The FED usually increases interest rates to halt rapidly increasing inflation, and it could be useful to calm down potential asset bubbles. The problem with raising interest rates is that it immediately cools down the economy and slow down economic growth. It might even stop economic growth and cause a recession.
Since higher interest rates increase the cost of borrowing for everyone in the economy (individuals, businesses), consumption decreases and investment increases. The problem with this is that private consumption represents nearly 70% of the GDP and the money multiplier is responsible for a lot of this.
If the U.S. government imposes a more restrictive import quota on Japanese video gaming systems, the ____________ curve for Japanese video gaming systems in the U.S. will shift ___________.
Answer:
The correct answer is: supply; leftward.
Explanation:
An import quota is a kind of trade restriction that limits the physical quantity of a good that can be imported on a country. In other words, an import quota reduces the equilibrium quantity supplied of imported goods.
A more restrictive import quota on Japanese video game systems will reduce the quantity of gaming systems imported. This reduction in the supply of video game systems will shift their supply curve to the left. The quantity of gaming systems will decline and their equilibrium price will increase.
Answer:
Supply curve shifts rightwards
Explanation:
Where there is import restrictions, there will be lower supply for an item hence the price will increase. Therefore, there will be a rightward shift in the supply curve.