Answer:
Routine transaction
Explanation:
Firms and organisations generally consist of various transactions on a daily basis. Some of them require specific authorisations and some do not. Those transactions which do not require specific laws or approval before the transaction is called a routine transaction. Similarly, routine transactions are payroll transactions, sales, purchases and receipts. They are done on the normal course of business, and certain specific applications are made once to account for these transactions.
The null hypothesis for this test is _____. a. μ1 – μ2 < 0 b. μ1 – μ2 ≠ 0 c. μ1 – μ2 > 0 d. μ1 – μ2 = 0
Answer:
D
Explanation:
Null hypothesis is identified by the equality sign
The impact of inflation places ______________ and risk in the savings and borrowing relationships.
a) guacamole (the possibility that you may end up with green spots on your shirt)
b) mayonnaise (the possibility that you may end up with white spots on your chin)
c) uncertainty (the possibility that benefits may be less than expected)
d) none of the above
Answer:
The correct answer is the option C: uncertainty (the possibility that benefits may be less than expected).
Explanation:
To begin with, the concept of inflation refers to the sustained increase in the general price level of goods and services produced inside an economy and therefore consequently a reduction in the purchasing power per unit of money.
Secondly, it is understandable that the inflation causes that the uncertainess and riskness both take places in the saving and borrowing relationships due to the fact that the price that products and services will have in the future are not determinated and will probably increase in an unexpected way and therefore causing that benefits may be less than expected as well too.
Assume the current equilibrium level of income is $200 billion as compared to the full-employment income level of $240 billion. If the MPC is 0.625, what change in aggregate expenditures is needed to achieve full employment?
Answer:
increase the aggregate expenditure to $15 billion ($40-$25)
to achieve full employment.
Explanation:
Note:
If change in aggregate expenditures is equal to change in aggregate income then MPC=1.
Formula for MPC:
MPC=Change in Consumption or expenditure/ Change in Income
Given MPC=0.62
0.625=Change in Consumption or expenditure/ (240-200)
Change in Consumption or expenditure=[tex]0.625 * 40\\[/tex]
Change in Consumption or expenditure=$ 25 billion
Since the change in income is $40 billion($240-$200) and Change in aggregate expenditure we calculated above is $25 billion so we need to increase the aggregate expenditure to $15 billion ($40-$25)
to achieve full employment i.e to make MPC to 1.
Lifeworks is a nongovernment not-for-profit organization that recently received a large gift from a donor in the amount of $3,000,000 in cash. The donor wishes to leave a legacy and therefore specified that Lifeworks cannot spend the $3,000,000 but can invest the $3,000,000 and use any earnings from the investments to support the organization. In the first year, $100,000 was earned but has not yet been spent. How would the $3,000,000 gift and the $100,000 in earnings impact the net assets of Lifeworks?
Answer:
Explanation:
The net assets would increase. This is because the $100,000 earnings from investments are additional cash inflows hence an increase in current assets. For the $3,000,000 if invested, it will be considered an asset. It is a cash donation invested to generate earnings for the non-profit organization. Thus, these two instances add onto the net asset value of Lifeworks.
Assume there is an increase in the number of consumers in the market for a good sold by perfectly competitive firms that are initially producing the profit-maximizing level of output. For the individual firm, this would result in:a. a decrease in price and increase in the profit-maximizing quantity of output.b. an increase in both price and the profit-maximizing quantity of output.c. an increase in price and decrease in profit-maximizing quantity of output.d. a decrease in both price and the profit-maximizing quantity of output.
Answer:
Option (B) is correct.
Explanation:
Number of consumers in the market is one of the determinants of demand which shifts the demand curve.
In a perfectly competitive market, if there is an increase in the number of consumers in the market then as a result the demand for the product also increases which shifts the demand curve rightwards.
This rightward shift in the demand curve will result in an increase in both equilibrium price and equilibrium quantity which is also a profit maximizing quantity of output.
A primary reason that a firm would use average-cost pricing is that it
A primary reason that a firm would use average-cost pricing is that it helps in making decisions about production output and purchasing during short run period.
What is average cost?Average cost refers to the cost per unit of goods produced or manufactured in production, which comprises fixed costs, which are important for production, that does not change no matter the output.
Average cost represents the average amount of money spent to produce a product. However, average-cost pricing works well if the firm actually sells the quantity it used to calculate the average-cost price.
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Natalie wants to make a 25% profit on her $70,000 land investment (there is no mortgage). She figures agents charge a 6% commission, and that closing costs will be an additional $1,200. What should she accept as a final sale price (to the nearest hundred)?
Natalie wants to make a 25% profit on a $70000 sale. That would be:
(125 ÷ 100) × 70000 = $87500.
Natalie wants to make $87500. But the agent would charge a 6% for the sale, Natalie will add a 6% to the $87500, that would be:
(106 ÷ 100) * 87500 = $92750.
On this $92750, there's a closing cost of $1200,
Add $92750 + $1200 = $93950.
$93950 to the nearest hundred will be $94000.
Natalie should make the final sale price $94000 in order to make a profit of %25.
Answer:
Final sale price = $94000
Explanation:
Price of investment = $70000
Profit accrued on investment = 1.25 * $70000= 87500
Agent commission= 6%
Agent commission = .06 * 87500
= $5250
Additional fee = 1200
Final sale price = $87500 +1200 + 5250 =93950 =$94000(nearest hundred)
Ceteris paribus, if the price of Pepsi increases, the equilibrium price of Coca-Cola will ________ and the equilibrium quantity of Coca-Cola will ________.
Answer:
Rise
Rise
Explanation:
Pepsi and Coca cola are considered substitutes. If the price of Pepsi increases, consumers would begin to consume more coca cola and the demand for coca cola would increase. This would lead to an excess of demand for coca cola over supply and prices would rise.
I hope my answer helps you
Final answer:
Ceteris paribus, if the price of Pepsi increases the equilibrium price of Coca-Cola will increase, and the equilibrium quantity of Coca-Cola will increase as well.
Explanation:
Ceteris paribus, if the price of Pepsi increases, we can expect a substitution effect where consumers switch their preference to a similar but cheaper alternative like Coca-Cola. Assuming Pepsi and Coca-Cola are close substitutes, the equilibrium price of Coca-Cola will increase, and the equilibrium quantity of Coca-Cola will increase as well.
This is because the demand for Coca-Cola will rise as consumers look for a substitute for the more expensive Pepsi. The market for Coca-Cola adjusts to this higher demand by increasing the price and the quantity supplied to reach a new equilibrium.
A bank loan officer thinks people who speak with an accent are lazy; consequently, he refuses to grant them loans. The loan officer's belief is an example of _____ . His refusal to grant them loans is an example of _____.
Correct/Complete question: A bank loan officer thinks people who speak with an accent are lazy; consequently, he refuses to grant them loans. The loan officer's belief is an example of _____ . His refusal to grant them loans is an example of _____.
a. stereotyping; attribution
b. attribution; stereotyping
c. discrimination; prejudice
d. prejudice;discrimination
Answer:
d, prejudice; discrimination
Explanation:
Prejudice is a preconceived opinion about a person or group of persons or race, tribe that has no basis, least of all experience with such persons or group of persons. It is what the bank loan officer has for people with accent.
Discrimination of the other hand is the denial of an opportunity or good or service based on prejudice.
An example of prejudice is 'Blondes are dumb.' Because one person had a dealing with a blonde and she turned out to be dumb, it became a general opinion formed by people through the years and any/every blonde is seen as dumb by default.
Failurre to give a blonde haired applicant a job becasue of her hair colour is discrimination.
I hope this helps. Happy holidays.
Michael is a successful business owner who can develop his ideas into productive enterprises. Although he was an average student in school, his great social skills and common sense indicate that Michael might score highly in what Sternberg calls _________ intelligence.
Answer: Practical
Explanation:
The practical intelligence is one of the type of human cognitive intelligence and it is refers to the ability in which the individual person find out the best way according to the actual demand of environment.
It is basically proposed by the Robert J. Sternberg and it is one of the form of technique which we can apply and also implement according to our knowledge in practically way.
We can also measure our practical intelligence by using the tacit knowledge as it incorporated various types of practical knowledge for implementing various types of tasks.
Therefore, Practical is the correct answer.
Final answer:
Practical intelligence in Sternberg's triarchic theory emphasizes street smarts and problem-solving abilities based on life experiences, separate from traditional IQ measures.
Explanation:
Robert Sternberg proposed the triarchic theory of intelligence, which includes three parts: practical, creative, and analytical intelligence.
Practical intelligence is likened to 'street smarts' where individuals apply knowledge based on experiences to find solutions that work in everyday life.
Practical intelligence is separate from traditional IQ and can be seen in individuals like Michael, who excel in developing their ideas into successful enterprises due to their common sense and social skills.
Veterinarians generally derive some of their income from selling several manufacturers' lines of pet-care products. Knowing that pet owners rarely throw away mail from their pet's veterinarian unread, one manufacturer of pet-care products offered free promotional materials on its products to veterinarians for mailing to their clients. Very few veterinarians accepted the offer, however, even though the manufacturer's products are of high quality.
Which of the following, if true, most helps to explain the veterinarian's reaction to the manufacturer's promotional scheme?
(A) Most of the veterinarians to whom the free promotional materials were offered were already selling the manufacturer's pet-care products to their clients.
(B) The special promotional materials were intended as a supplement to the manufacturer's usual promotional activities rather than as a replacement for them.
(C) The manufacturer's products, unlike most equally good competing products sold by veterinarians, are also available in pet stores and in supermarkets.
(D) Many pet owners have begun demanding quality in products they buy for their pets that is as high as that in products they buy for themselves.
(E) Veterinarians sometimes recommend that pet owners use products formulated for people when no suitable product specially formulated for animals is available.
Answer:
(C) The manufacturer's products, unlike most equally good competing products sold by veterinarians, are also available in pet stores and in supermarkets.
Explanation:
Only option (C) explains why very few veterinarians accepted the offer. If the manufacturer offers free promotional materials to all veterinarians clients and all this material is available at other supermarkets and malls their will be good probability that clients will go directly to supermarkets and malls reducing income of veterinarians.
Ace company's inventory was destroyed by fire. Their records show net sales of $90,000, beginning inventory of $20,000, net purchases of $75,000 and a gross profit rate of 30%. What is the estimated value of the ending inventory?
Answer:
$32,000
Explanation:
Gross profit = (sales - cost of sales)/sales
30% = ($90000-Cost of sale)/$90000
cost of sale = $63000
Closing inventory = (opening inventory + purchases) - cost of sale
closing inventory = (20000 + 75000) - 63000
Which of the following statement is true?
A. It is difficult to lower prices on an introductory product.
B. Price skimming allows competitors to easily enter the market.
C. Firms must consider the high costs associated with producing a small volume of product.
D. Price skimming does not work well with new-to-the-market, innovative products.
E. Price skimming is often challenged as being illegal.
Answer:
C. Firms must consider the high costs associated with producing a small volume of product.
Explanation:
Firms must always consider the high costs of producing at a lower volume and factor this in their budgets and pricing decisions.
All the other options are fall as Price skimming sets higher prices and makes entry difficult furthermore usually, introductory products are at a lower price to attract customers. This nullifies Option A and B.
Option D is nullified as innovative products usually commands higher prices called skimming.
Option E is conditional may be true in some cases but not always, higher prices simply discourage the demand without any legal action necessary most of the times.
Hope that helps.
Which is true of how reference groups influence consumer behavior? a. Reference group norms do not constrain consumer behavior. b. Consumers are prohibited from dissociating themselves from reference groups. c. Consumers generally use the same criteria as their reference groups to make their own consumer decisions. d. Consumers are influenced only by the reference groups to which they belong.
Answer: Option C
Explanation: In simple words, reference groups refers to the entity which directly or indirectly impacts the view of the costumers regarding a particular commodity or section of that particular commodity.
There are three types of reference groups which are as follows informative, utilitarian and expressive. Producing entities of the composites conspires such groups as of high importance because their influence and opinions can bring such producers heavy market share.
Consumers rely heavily on such sources and generally follow the perceptions that are made by such groups. Hence from the above we can conclude that the correct option is C.
The voting paradox suggests that the "voting market," as represented by elections,
A) Leads to a superior outcome in representing consumer preferences compared to the private market for goods and services.
B) May often lead to an inefficient outcome in representing consumer preferences compared to the private market for goods and services.
C) Is no different from the private market for goods and services in terms of representing consumer preferences.
D) May not lead to an efficient outcome but certainly leads to a more equitable outcome in terms of distributing goods and services.
Answer:
B) May often lead to an inefficient outcome in representing consumer preferences compared to the private market for goods and services.
Explanation:
By definition the "Condorcet paradox (or th voting paradox) in social is a situation noted by the Marquis de Condorcet in the late 18th century, in which collective preferences can be cyclic, even if the preferences of individual voters are not cyclic". And that can be extrapolated to Business since the people tend to change their preferences in a cyclic process.
A) Leads to a superior outcome in representing consumer preferences compared to the private market for goods and services.
False the paradox is not about the comparison between consumer and private market.
B) May often lead to an inefficient outcome in representing consumer preferences compared to the private market for goods and services.
Correct duee to the cyclic change we will have an inefficient outcome in order to describe the consumer preferences in all the markets.
C) Is no different from the private market for goods and services in terms of representing consumer preferences.
That's FALSE the private market have own characteristics and typical patterns associated to the consumer preferences.
D) May not lead to an efficient outcome but certainly leads to a more equitable outcome in terms of distributing goods and services.
We can't ensure that we will have more equitable outcome since the the paradox not ansure this, but we can say that we will have an ineffcient outcome since the preferences will change.
Olivia is a part-time worker at a jam-producing company in her village. Her job entails plucking and cleaning grapefruits. Because grapefruits grow only in winter, Olivia is unemployed for most part of the year. The given scenario exemplifies _____.
a. seasonal unemployment.
b. frictional unemployment.
c. classical unemployment.
d. cyclical unemployment.
Answer:
a
Explanation:
because seasonal unemployment is when peoples work during busy seasons and are without work during slack seasons.
Examples: agriculture, ice factory, tourist industry etc
Which of the following happens when there are market failures? A) Firms compete more leading to more efficiency. B) The invisible hand automatically lowers prices and increases quality of products. C) The private sector promotes competition D) The public sector steps in to help allocate resources E) Firms temporarily seek society’s goals rather than maximize profit.
Answer:
The correct answer is option D.
Explanation:
A market failure refers to the situaion where the market forces fail to efficiently allocate resources. It happens because of a number of reasons such as externalities, monopoly, asymmetrical information, tragedy of commons etc.
In case of market failure, the government has to intervene to efficiently allocate resources. The failure of price mechanism to produce goods efficiemtly results in government to intervene.
Based on the following information, what is the balance on the financial account? Exports of goods and services = $5 billion Imports of goods and services = $3 billion Net income on investments = -$2 billion Net transfers = -$2 billion Increase in foreign holdings of assets in the United States = $4 billion Increase in U.S. holdings of assets in foreign countries = -$1 billion
Answer:
3 billion
Explanation:
the financial account will be the cash inflow less the cash outflow:
Increase in foreign holdings of assets in the United States = $4 billion Increase in U.S. holdings of assets in foreign countries = -$1 billion
4 billion of dollar enter the US from aboard while 1 billion left the country with destination aboard in total the financial account will be:
4 billion - 1 billion = 3 billion
Bulldog, Inc. has budgeted sales for the first quarter of the next year to be 35,000 units. The inventory on hand at the beginning of quarter is 5,000 units. The desired ending inventory is 3,000 units. Calculate the budgeted production for the first quarter.
A. 2,000 units
B. 42,000 units
C. 32,000 units
D. 30,000 units .
The budgeted production for the first quarter is 32,000 units. This is calculated by adding the budgeted sales (35,000 units) to the desired ending inventory (3,000 units) and subtracting the beginning inventory (5,000 units). Option C is correct.
To calculate the budgeted production for the first quarter, we need to consider the desired ending inventory.
[tex]\[ \text{Budgeted Production} = \text{Budgeted Sales} + \text{Desired Ending Inventory} - \text{Beginning Inventory} \][/tex]
- Budgeted Sales = 35,000 units
- Beginning Inventory = 5,000 units
- Desired Ending Inventory = 3,000 units
Substitute these values into the formula:
Budgeted Production = 35,000 + 3,000 - 5,000
Budgeted Production = 33,000
Therefore, the correct answer is:
C. 32,000 units
For a monopoly, the level of output at which marginal revenue equals zero is also the level of output at whicha.total revenue is maximized.b.profit is maximized.c.marginal cost is zero.d.average revenue is zero.
Answer:
a.total revenue is maximized
Explanation:
Marginal revenue refers to the change in total revenue. Zero marginal revenue impllies no change in TR. Thus, only when TR is maximized will MR be zero before falling.
When does the taxpayer sign the tax return?
A. Before quality review and before being advised of their responsibility for the accuracy of the information on the return.
B. Before quality review and after being advised of their responsibility for the accuracy of the information on the return.
C. After quality review and before being advised of their responsibility for the accuracy of the information on the return.
D. After quality review and after being advised of their responsibility for the accuracy of the information on the return.
Answer:
A
Explanation:
A small group for health insurance in California is a single employer with ______ or fewer full-time equivalent employees (persons who work at least 30 hours per week).
Answer:
100
Explanation:
Full time equivalent employees are calculated similarly to equivalent production units, for example two employees working 15 hours per week are equivalent to one full time employee.
In California, small groups can get health insurance through SHOP (Small Business Health Options) or through private exchanges. Employers must guarantee health insurance to all eligible employees.
Small businesses with 25 or less employees who earn less than $50,000 on average, may be eligible for federal premium tax credits of up to 50% of the employee premium for a health plan purchased only through SHOP.
Bernard's firm has set corporate direction to become one of the leaders in each of its significant market segments. It was Bernard's job to examine the firm's pricing strategy to determine how to maximize market share, even at the expense of profits in the short run. What kind of company objective would guide Bernard's effort?
Answer:
Sales-Oriented Pricing objective
Explanation:
Sales-oriented pricing objective focuses on increasing sales and gaining a greater market share.
This strategy prioritizes increasing sales over increasing profits, and it can be achieved by cutting costs and reducing prices to attract more customers.
Among the many factors that influence purchasing decisions are _____, who control the flow of information within an organization.
a. influencers
b. users
c. deciders
d. buyers
e. gatekeepers
Answer: gatekeepers
Explanation: Gatekeeper refers to a member of a judgment-making system or social circle acting to suppress or deter purchasing by restricting the flow of details and information exposure to the purchasing center's members.
A parent who does not permit her children in the store to choose from a sweetened cereal serves as just a gatekeeper. In a company, the gatekeeper is almost the same as the picture that the term brought to mind — anyone sitting right at an access point to avoid undesired traffic.
This is the individual tasked with keeping a judgment-maker from being distracted by what they or he find insignificant and distracting guests and interviewees to be.
Every licensed broker must keep and maintain a file of agency disclosures, listings, offers, closing statements and other transaction-related documents for a period of _________ years.
Answer:
3 years
Explanation:
Based on the information provided within the question it can be said that the licensed brokers must keep and maintain all of this information for a period of 3 years. This is in case that the information is needed in the future for any kind of reason such as an audit. The auditor can ask for the information and the broker must present it or risk prosecution.
Assume a Demand shift (a decrease in income) moves the economy from Point C to Point A. At Point A the Rate of Unemployment will be _______ per cent.
Answer:
8
Explanation:
After decrease in income economy moves from point C to point A , at point A unemployment will reach at 8%.
A recession tends to cause the federal budget deficit to ________ because tax revenues ________ and government spending on transfer payments ________. increase; rise; falls decrease; fall; rises increase; fall; rises decrease; rise; falls'
Answer:
increase; fall; rises
Explanation:
A recession is when there's a contraction in economic activities. It is when the GDP of a country is negative for two consecutive quarters.
When there's a recession, the government undertakes expansionary fiscal policy to stimulate the economy. Therefore, the government would increase its spending or reduce amount of tax paid. Therefore , government spending rises.
Also, during a recession, tax revenues falls because income of individuals, firms fall and therefore revenue from tax would fall.
I hope my answer helps you.
The _________ states that the value of the firm is determined solely by the value of its assets.
Answer:
M&M proposition
Explanation:
M&M proposition is also called Modigliani Miller hypothesis says that the estimation of a firm is unaffected by how that firm is financed. The manner in which an organization funds its advantages decides the capital structure of an organization
An organization can back its activities by either obligation or value or can follow half breed strategy by joining the two.
100 points
In what way are electronic communications sometimes different from other business communications?
They are more formal
They are more casual
They are longer
They are more professional
Answer: They tend to be more casual
Explanation: Casual communications are used in settings that do not require the same level of protocol. The degree to which a situation is formal or casual determines the degree to which the method and style of communications are formal or casual. It tend to follow this exact pattern when it comes to electronic communication. Casual communications is easy and well accepted.
The Hackman's home is valued at $650,000. Properties in their area are assessed at 60% of the value, and the local tax rate is $2.85 per one hundred dollars of assessed value. How much are the Hackman's MONTHLY taxes?
Answer:
$926.25
Explanation:
First, we obtain the assessed value:
$650,000 * 60% = $390,000
Now, we obtain the benchmark for determining the yearly tax. We divide the assessed value by one hundred because the local tax rate is $2.85 per one hundred dollars of assessed value. In other words, one hundred dollars is the benchmark:
$390,000 / 100 = $3,900
Now, to find the total tax paid in a year we simply multiply the local tax rate by the benchmark:
$2.85 x 3,900 = $11,115
Finally, we divided the yearly value by twelve to obtain the monthly value:
$11,115 / 12 = $926.25
Final answer:
The Hackman's' monthly property taxes are $926.25.
Explanation:
To calculate the Hackman's' monthly property taxes, first determine the assessed value of the home by multiplying the home's value by the assessment rate. Then, calculate the annual taxes by applying the local tax rate to the assessed value. Finally, divide the annual taxes by 12 to find the monthly taxes.
The assessed value is 60% of the home's value:
$650,000 x 0.60 = $390,000.
The annual tax is then calculated by the tax rate per hundred dollars of assessed value:
$390,000 / 100 = 3,900 (hundreds of dollars);
3,900 x $2.85 = $11,115 (annual taxes).
To find the monthly taxes, divide by 12:
$11,115 / 12 = $926.25.
Therefore, the Hackman's' monthly property taxes are $926.25.