Answer:
A. $113.95
Explanation:
Vansel's expect that the EPS will grow by 2% annually, the earnings per share in 3 years are forecast to be:
Earnings in 3 years = $11×(1+2%)³ = $11.67
The forecasted earnings per share can be multiplied by the PE ratio of the firm’s industry to forecast the future stock price. The average PE ratio of all other firms in Vansel industry is 12, the stock price in three years can be forecast as follows:
Stock price in three years = (Earnings in three years)×(PE ratio of industry) = $11.67×12 = $140.08
This forecasted stock price can be used along with expected dividends and the investor’s required rate of return to value the stock today. Vansel pay a dividend of $3.5 per share over the next three years and the investor’s required rate of return (Re)is 10%, then the present value of expected cash flows to be received by the investor is:
PV = Dividend₁/(1+Re)¹ + Dividend₂/(1+Re)² + Dividend₃/(1+Re)³ +Stock price in three years/(1+Re)³ = $3.5/(1+10%) + $3.5/(1+10%)² + $3.5/(1+10%)³ + $140.08/(1+10%)³ = $113.95
For each of the following identify if Employed, Unemployed, Not in the labor force or Not in the adult population:
1. Van is a 70-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda.
2. Employed Amy is a 28-year-old professional basketball player. She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position.
3. Employed Carlos is a 37-year-old graphic designer who is taking 2 years off from work to care for his small daughter.
4. Janet is a 26-year-old who lost her job as a copy editor for a local newspaper. She has spent the past few weeks out of work and interviewing for other editing jobs. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks.
5. Felix is a 17-year-old who just graduated from high school. He is taking it easy this summer, relaxing by the pool with his friends and family, and volunteering part-time at the local nursing home.
6. Deborah is a 13-year-old student at Southside Middle School. She babysits her younger sister and does other chores, so her parents give her an allowance of $20 per week.
Answer:
1. Employed
2. Unemployed
3. Not in labor force
4. Unemployed
5. Not in labor force
6. Not in the adult population
Explanation:
A person above the 16 years of age who are self employed or have a job are considered employed.
Those people who are in the labor force but currently do not have a job and are actively looking for one are considered unemployed.
The labor force contains employed and unemployed workers. The people below 16 years of age are not considered in adult population.
1. Van has a job so he is considered employed.
2. Amy is a professional basketball player, and is looking for a coaching position, she is unemployed.
3. Carlos is 37 year old and is currently is taking a break of 2 years, so he is not in the labor force.
4. Janet currently does not have a job and is looking for one, so she will be considered unemployed.
5. Felix is not in labor force as he is neither working nor looking for job. '
6. Deborah is a 13 year old student, she is below 16 so she is considered not in adult population.
Which of the following refers to an allocation of the promotion budget based on management's determination of the total amount to be devoted to marketing communication?A. Competitive-parity method.B. Bottom-up budgeting techniques.C. Top-down budgeting technique.D. Percentage-of-sales method.E. Objective-task method.
Answer:
The correct answer is (C)
Explanation:
Top-down budgeting is a planning strategy wherein senior administration builds up a significant level spending plan for the organisation. When the top-level numbers are made, amount is distributed to the departments such as marketing , finance, HR and according to the tasks and operations and it is compulsory to make budgeting notes .
Which of the following scenarios demonstrates the leverage effect on net operating income due to the existence of fixed costs?
A) A 25% increase in sales resulting in a 30% decrease in net operating income.
B) A 15% increase in sales resulting in a 15% increase in cost of goods sold.
C) A 25% increase in sales resulting in a 30% increase in net operating income.
D) A 25% increase in sales resulting in a 30% increase in fixed costs.
Answer:
C) A 25% increase in sales resulting in a 30% increase in net operating income.
Final answer:
Scenario C) A 25% increase in sales resulting in a 30% increase in net operating income demonstrates the leverage effect, as fixed costs remain constant, magnifying the impact of sales on income.
Explanation:
The scenario that demonstrates the leverage effect on net operating income due to the existence of fixed costs is C) A 25% increase in sales resulting in a 30% increase in net operating income. This scenario reflects the leverage effect because fixed costs do not change with an increase in sales, and therefore any additional sales revenue will result in a greater proportionate increase in net operating income. On the other hand, if costs were variable, a 25% increase in sales would likely lead to a proportional increase in costs, thus not yielding such a high increase in net operating income.
When looking at the effect of changes on costs:
An increase in the cost of the lease of the firm's building would raise both average total cost (ATC) and marginal cost (MC) if the lease is considered a variable cost at the margin, or just ATC if it is purely fixed.A reduction in the price of electricity would generally lower ATC and MC, as electricity is a variable cost that changes with output.A reduction in wages will likely decrease ATC and MC, assuming labor is a variable cost.A change in the salary of the president of the company affects ATC, assuming the salary is a fixed cost and does not affect MC as it does not change with the output.A competitive environment where there is weak to moderate rivalry amongsellers, high entry barriers, weak compeittion fom subsitite products, and little bargaining leverage on the part of both suppliers and customers___________
Answer: is conducive to market organisations earning attractive profits.
Explanation: This is an ideal market conditions for companies earning high profits. Weak rivalry amongst sellers and weak competition from substitute products makes it easier for these industry members to produce better quality goods or services, that gain potential customers and retain customer loyalty. The high barriers to entry makes it very hard for other sellers to enter the market. Industry members are able to have a big market share as a result, allowing them to sell to many more customers as aa well. Little bargaining leverage allows these industry members control over the market and thus they can control what they are going to sell and for how much. Customers will still buy these goods and services regardless. All these conditions are the reasons why these industry members are able to generate such high profits.
A totalitarian political system in which a party, group, or individual that represents the interests of a particular ethnic group monopolizes political power is referred to as
theocratic totalitarianism.
right-wing totalitarianism.
communist totalitarianism.
tribal totalitarianism.
democratic totalitarianism.
Answer:
A totalitarian political system in which a party, group, or individual that represents the interests of a particular ethnic group monopolizes political power is referred to as D) Tribal totalitarianism
Explanation:
Totalitarianism refers to the type of political arrangement in which there is an absolute control of the ruler on the public. This type of system controls the political, social, and cultural aspects of the particular area and its subjects or population. Usually, there is only one leader who has the maximum political powers in this type of system. There are many types of totalitarian political systems, such as Theocratic, Communist, Democratic, Right-wing, and Tribal.
Tribal totalitarianism deals with a particular ethnic group and its interests and monopolizes the political powers.
Therefore, alternative D is correct.
Final answer:
Right-wing totalitarianism is a political system in which a party representing a particular ethnic group monopolizes political power and seeks to control all aspects of citizens' lives.
Explanation:
A totalitarian political system in which a party, group, or individual that represents the interests of a particular ethnic group monopolizes political power is referred to as right-wing totalitarianism. This type of regime is characterized by a strong sense of nationalism, a disdain for democratic principles, and a belief in social hierarchy. It seeks to regulate nearly every aspect of public and private life, and citizens' rights are limited, with the government controlling all aspects of their lives.
Ewa signs an instrument unconditionally promising to pay to "Sunny State Bank" $5,000 with interest in installments with the final payment due June 1, 2013. Refer to Fact Pattern 24-2B. The instrument that Ewa signed is most likely
Answer:
a promissory note
Explanation:
Based on the information provided within the question it can be said that the instrument that Ewa signed is most likely a promissory note. This is a not that enforces an unconditional promise, from one individual to another promising to make a certain payment in a certain time period. Which is exactly what EWA is signing when agreeing to pay $5,000 with interest in installments with the final payment due June 1, 2013.
Suppose? that, in the United? States, the inflation rate is at 3.2 percent? (the target inflation rate is 2? percent). Rapidly rising prices and low interest rates have spurred business to hire more workers and invest in new facilities.
Which of the following is likely to be true of the U.S. economy if there is a rapid rise in prices and low interest? rates?
A. There could be an appreciation of the U.S.? dollar, resulting in a lower output gap in the U.S. economy.
B. The U.S. economy could experience an increase in gross domestic? product, eventually resulting in an economic boom.
C. The U.S. economy could experience unsustainable? expansion, resulting in a sharp economic downturn.
Answer:
The correct answer is C. The U.S. economy could experience unsustainable? expansion, resulting in a sharp economic downturn.
Explanation:
Unsustainable economic growth is a theoretical economic situation proposed by Jagdish Bhagwati in 1958, where economic growth can become so counterproductive as to leave a country in worse conditions than before.
If growth is based solely on exports, these could lead to a fall in the terms of trade of the exporting nation. In rare circumstances, this fall could be even greater than the gains generated by the growth, worsening the country's situation. This result is viable only if the growing country influences international market prices.
According to the quadrants of the social style matrix, which of the following should salespeople do when selling to expressives?
A. They should focus on sales presentations with factual statements and technical details.
B. They should demonstrate how their product will help the customers achieve personal status and recognition.
C. They should avoid presenting a product that will require the customers to be the first ones to use the product.
D. They should refrain from preparing sales presentations with product demonstrations and creative graphics.
E. They should avoid mentioning testimonials from well-known firms and people during their sales presentations.
Answer:
B) They should demonstrate how their product will help the customers achieve personal status and recognition.
Explanation:
The social style matrix uses personality traits to categorize customers. It divides people into four categories:
Driving Style: controlling, determined and active peopleExpressive Style: enthusiastic and emotional peopleAmiable Style: friendly and relationship driven peopleAnalytical Style: thoughtful and reserved peopleSince we are trying to sell goods to expressive people, then we must focus on how the goods will make them feel more important (VIPs). They seek the attention and notice of other people (they are show-off people). They want to feel important and they will buy goods that make them feel that way.
Select the correct answer.
What represents the value of the second-best alternative that a person gives up when making a choice?
A. marginal spending
B. marginal benefit
C. opportunity cost
D. marginal cost
The value of the second-best alternative that a person gives up when making a choice represents the opportunity cost. The answer is C.
Life cycle costing (LCC):_______
a) focuses on purchase price which is typically the highest percentage of LCC.
b) is easy to understand theoretically and easy to put into practice.
c) is applied to all types of purchases except capital acquisitions.
d) includes all relevant costs expected in the first three years of ownership.
e) may include costs that are 10-15 years in the future and highly uncertain.
Life cycle costing (LCC) includes all relevant costs expected in the first three years of ownership.
Option D
Explanation:
Life-cycle costing (LCC) is a method used to appraise the all out cost of proprietorship. It is a framework that tracks and aggregates the real expenses and incomes owing to cost object from its innovation to its relinquishment.
It enables near cost appraisals to be made over a particular timeframe, considering significant monetary elements both as far as introductory capital expenses and future operational and resource substitution cost.
Life-cycle costing is otherwise called all out cost of possession (TCO).
The way toward recognizing and archiving every one of the costs required over the life of an advantage is known as life-cycle costing (LCC).
The life-cycle costing procedure can be as basic as a table of anticipated yearly expenses, or as mind boggling as an electronic model that takes into account the formation of situations dependent on suppositions about future cost drivers.
"America has forged this success while utilizing, in large part, only half of the country’s talent. For most of our history, women—whatever their abilities—have been relegated to the sidelines. Only in recent years have we begun to correct that problem." —Warren Buffett The Warren Buffett quote illustrates the concept that a company willing to diversify draws from a larger talent pool and which leads to hiring people with diverse skills sets. This is an example of what positive benefit of diversity?
Answer:
Drawing talent from a larger and more diverse pool allows a business to attract and retain the best talent available
Explanation:
Around half of the world's population are women, and that applies to all countries. Buffet believes that American businesses have overlooked women's talent and therefore have missed half of America's talent.
It makes mathematical sense. If you are given the opportunity to choose 5 team members from a pool of 20 people, you will have double the chance of selecting a better team than if your pool were only 10 people.
Besides that mathematical fact, women also have different views than men over most issues, and they are also half of the nation's customers. So it is possible that during the last 200 years, businesses have been addressing half of their customers the wrong way.
C7-Proprietary funds are accounted for in a manner similar to investor-owned businesses;
among other features,
the accrual basis of accounting is used and all of the capital assets used in fund
operations are accounted for by the using fund.
Answer:
True
Explanation:
Proprietary funds are a type of government fund that reports government activities financed by revenue generating government entities, e.g. municipal water utility company. This revenue generating government entities use the accrual basis of accounting similar to private companies. While most other government entities use the fund accounting system, not the accrual system.
The marginal seller is the seller who
a. cannot compete with the other sellers in the market.
b. would leave the market first if the price were any lower.
c. can produce at the lowest cost.
d. has the largest producer surplus."
Answer:
b. would leave the market first if the price were any lower.
Explanation:
In the market, the producer always sells more than the economic cost ( raw materials and labor cost) that he bears during production. The marginal seller means that the seller earns zero economic profit ( producer surplus) i.e. an economic cost equals the selling price. So if the price falls then the marginal seller would leave the market first because he will be indifferent when earns the zero economic profit but when the price falls he would leave the market.
Margaret and Jack are working on a high-priority project with a tight deadline. When Margaret is unable to meet the deadline, Jack attributes it to her clumsiness. However, when he is unable to meet the same deadline, he blames it on poor planning by his manager. This scenario exemplifies ________.
Answer:
The correct answer is The fundamental attribution error.
Explanation:
The Fundamental Attribution Error (EFA) is a phenomenon that occurs when we try to explain our own behavior with respect to that of others. Many times we find it hard to understand why a person acts as he acts. And we do not stop to look for the reasons that are the basis of their behavior.
A very clear example is to suspend an exam. If you have to explain to someone why you have suspended the exam, you probably mean that it was very difficult, that you had not rested, did not have time to study or even that the teacher suspended you.
Now imagine that it is another person who suspends and you have approved. Surely if you have to explain why you have suspended you will explain that it is a bit vague, that you have not studied enough and even that you were not interested in approving.
Which of the following controls would be most effective in assuring that recorded purchases are free of material errors?A. The receiving department compares the quantity ordered on purchase orders with the quantity received on receiving reports.B. Vendors’ invoices are compared with purchase orders by an employee who is independent of the receiving department.C. Receiving reports require the signature of the individual who authorized the purchase.D. Purchase orders, receiving reports, and vendors’ invoices are independently matched in preparing vouchers.
Answer:
D. Purchase orders, receiving reports, and vendors’ invoices are independently matched in preparing vouchers.
Nori can be purchased from international suppliers in Korea and China and from local suppliers. A number of factors must be considered when choosing a supplier, and often concessions must be made. In the selection of the nori supplier, which two factors should be prioritized?a. Price.b. Management style.c. Quality.d. Payment terms
Answer:
Price
Quality
Explanation:
There are many things to be considered when choosing a supplier, however, price (covering price, Total Cost of Opportunity ) and Quality ( covering product and service quality and quality history) should be prioritized.
The ______, authorized by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, is charged with writing and enforcing rules covering consumer financial products and services including mortgages, credit cards,payday loans, loan servicing, check cashing, debt collection, and others.A. Consumer Product Safety CommissionB. Consumer Financial Protection BureauC. American Federation of LaborD. Bureau of Public Debt
Answer:
B. Consumer Financial Protection Bureau.
Explanation:
Based on the information provided within the question it can be said that the authority being mentioned is the Consumer Financial Protection Bureau. Like mentioned in the question this is an agency within the United States of America that focuses on consumer protection within the financial sector on products and services. Some of which include, loans, debt collection, credit cards, and mortgages.
Gloria thinks that she is paid less than other workers in her division and feels extremely resentful. She starts taking long breaks and generally wasting time. Her actions were a result ofher perceiving what kind of injustice?A) interactiveB) interpersonalC) proceduralD) distributiveE) interactional
Answer:
D) distributive
Explanation:
The salary is not distributed as required as per Jackie so this is perceiving distributive justice.
When the economy is in a recession, expansionary fiscal policy can be used to stimulate and encourage economic growth. Which of the following scenarios represent expansionary fiscal policies from both a supply and demand perspective at the same time? There could be more than one answer! Please be 100% sure:)A. The government lowers tax rates and undertakes a replacement of old bridges and roadsB. The government lowers tax rates and issues a partial refund of taxes that have alredy been paidC. The government raises tax rates and reduces unemployment insurance paymentD. The Federal Reserve incrases the money supply and lowers the interest rate while the government simultaneously reduces future taxes.
Answer:
A. The government lowers tax rates and undertakes a replacement of old bridges and roads
B. The government lowers tax rates and issues a partial refund of taxes that have already been paid
These 2 statements are correct explained below
Explanation:
A. The government lowers tax rates and undertakes a replacement of old bridges and roads, this statement is correct because when the government lowers tax rates it means that people have higher disposable income on their hands therefore they can spend more which increases demand, and people also invest more which increases supply, also the replacement of bridges and roads is improvement in infrastructure and this also increases supply as transportation is easier and cheaper for businesses.
B. The government lowers tax rates and issues a partial refund of taxes that have already been paid, this statement is correct because when the government lowers tax rates it means that people have higher disposable income on their hands therefore they can spend more which increases demand, and people also invest more which increases supply, also refund of taxes will increase the disposable money that people have so they can invest and consume both which will increase both supply and demand.
C. The government raises tax rates and reduces unemployment insurance payment
This is contraction fiscal policy and will do the opposite of expansionary fiscal policy, that is why this statement is incorrect.
D. The Federal Reserve increases the money supply and lowers the interest rate while the government simultaneously reduces future taxes. This statement is wrong because lowering the interest rate is an expansionary monetary policy and not an expansionary fiscal policy.
Which of the following is more like a product layout as compared to a process layout?
A.Products cannot be easily added or deleted from the existing product line.
B.Facilities are less capital intensive.
C.Scheduling resources is less challenging.
D.Resources used are general purpose.
E.Space requirements for inventory storage are higher.
Answer:A
Explanation:Explanation:product can easily be added or deleted from a product line as compared to process line/layout because process lines has important identities/components that explains the process line but product lines identities or components can be bypassed to achieve the aim
You are responsible for sales promotion for Replenishmints, long-lasting breath mints that contain a blend of vitamins and other nutrients specifically formulated for smokers and for people exposed to tobacco in their environment. You need to introduce the mints to supermarket managers and owners, attract and identify new store contacts, and test market the response to Replenishmints.
Which type of trade promotion would most likely help you reach your objectives?
Group of answer choices
a.trade shows
b.trade allowances and direct incentives
c.push money
d.contests and sweepstakes
e.direct sampling and store demonstration
Answer:
a.trade shows
Explanation:
Trade shows provide for the advertisement which is for the specific industry performers, it do not target the entire audience rather some specific users who shall be interested. It is the best advertisement related to the products which are specific to some industries.
Here, the product that is long lasting breath mints is basically for the people who use tobacco, or smokes. So it is based on for stores which are specific in selling these products. Accordingly rather than using any other method of advertisement to address various store managers of the same industry, Trade shows will be the best chosen technique.
Sayyid's company has launched a new product line, and he is put in charge of sales. He decides his first step will be to find potential customers in the company's sales records. Sayyid is:
a.prospecting.
b.screening.
c.researching.
d.pre-approaching.
e.surveying.
Answer:
Letter a is correct. Prospecting.
Explanation:
Customer prospecting is based on a structured process of searching for potential customers to consume new products or services.
This strategy is essential for any company that wants to expand in the market and achieve good profitability. It is important for professionals to implement customer prospecting techniques that are suited to the organizational purpose, each means for customer prospecting must be used in a way that communication is effective for the business, the company can use the digital medium to prospect clients, referrals. , its own client portfolio and various other media.
Which of the following statements about new product development strategy is correct?
A. New products are not a major source of growth for companies.
B. Good advertising creates successful new products.
C. A new product will succeed as long as it is priced correctly.
D. New products are usually successful because consumers like new things.
E. Innovation can be very expensive and very risky.
Answer: Option B
Explanation: In simple words, innovation refers to the process under which an individual or an organisation produce a new product by using new technology or methods. In other words, innovation means new ideas generated out of creative thoughts.
Innovation is always promoted as it brings unlimited profits for an org nation but there is a high downside risk as one has to employ large amount of resources in the research work for innovation.
Even after employing this much resources it is not guaranteed that the innovation will be successful and can result in total loss of time and money.
When considering new product development strategy, innovation is a key aspect which can be very expensive and risky due to substantial R&D costs, uncertain consumer reception and integration challenges. Despite these risks, the potential rewards from successful innovation are often considered worthwhile.
Option E is correct
Explanation:When discussing the new product development strategy, it's important to consider various factors. Innovation, which is essential to creating new products, can indeed be very expensive and very risky. Therefore, option E. 'Innovation can be very expensive and very risky' is correct.
This financial and operational risk emerges from the substantial cost of research and development, the uncertainty of consumer reception, and the challenges of integrating the new product into the existing product lineup. Nevertheless, the potential rewards from successful innovation, such as increased revenues, market share growth, and enhanced brand reputation, often encourage companies to take such risks.
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Of the following, which is a valuation method used in the market approach to measure the value of a business? a. Price-to-ticket revenue ratio b. Price-to-revenue ratio c. Price-to-earnings ratio d. Equity shares sold e. All of the above
Answer:
The correct answer is (E)
Explanation:
There are various methods which are used to measure the value of a business. Price to ticket ratio, price to revenue ration, P/E and equity share sold are the financial evaluation techniques used by financial mangers and analyst to examine the value of a business. All the above techniques consists of revenues and cost estimations and are used to evaluate the financial performance and strength of businesses.
Compare the policy ideas of President Herbert Hoover and President Franklin D. Roosevelt during the Great Depression. How did the role of the federal government change under President Franklin D. Roosevelt and the New Deal by comparison to his predecessor
Answer:
Besides being quite incompetent, President Hoover was probably out of touch with reality. He argued that people were out of jobs because they were looking for better jobs, like selling apples.
President Roosevelt, who was the complete opposite of his predecessor, believed in the Keynesian theory of government, and increased government spending with the New Deal. His New Deal policy helped the economy rebound from the Great Depression and the start of WWII also helped the US economy. This increase in government spending helped to create new jobs and businesses, plus other social advances (e.g. social security, unemployment benefits, etc.).
If you want to compare both presidents, Hoover would be as dark as a black hole and Roosevelt as bright as the sun.
Andrews, Badin, and Carr formed a partnership, ABC. During Year 2, the partnership sold some land that was held for investment and generated a long-term capital gain. How will this income be reported on the partners' individual tax returns?
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Primo, Inc. issued $50,000, 5-year, 7% bonds that pay interest annually on January 1 when the going market interest rate was 6%. The issue (sale) price of the bonds equals the present value of ______ and 5 periods. a) $50,000 plus the present value of an annuity of $3,500, both discounted at 7% b) $50,000 plus the present value of an annuity of $3,000, both discounted at 7% c) $50,000 plus the present value of an annuity of $3,500, both discounted at 6% d) $53,500 discounted at 7%.
The issue price of the bonds equals the present value of the bond's face value plus the present value of the bond's annuity of interest payments.
Explanation:The issue price of the bonds equals the present value of the bond's face value ($50,000) plus the present value of the bond's annuity of interest payments ($3,500 per year for 5 years).
To calculate the present value, we need to discount the future cash flows by the appropriate interest rate (7%).
Therefore, the correct option is a) $50,000 plus the present value of an annuity of $3,500, both discounted at 7%.
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"Why create a perceptual map?" asked David. Andreas, the senior marketing manager, gave him four reasons. Which of the following is NOT a valid reason?
a"It’s a quick way for senior managers to see not only our product but each of our competitors, all at once."
b"It’s a way to demonstrate the dimensions that our customers think are important."
c"It shows where we aren’t—and where our competitors aren’t—in our customers’ and prospects’ minds."
d"It’s a way to show the position of the company in ten years."
e"We can easily show where we are positioned and how large the market is."
Answer:
A perceptual market shows perceptions of customers about the attributes of a business happening now. Therefore, the reason stated below is not a valid one to support the usage of this graphic
d"It’s a way to show the position of the company in ten years."
Explanation:
A perceptual map offers the possibility of illustrating the perception of different products in one market in terms of different attributes: e.g. quality, price, warranty, service, design and so on.
The senior managers can take valuable decisions when looking how the market perceives the product sold by the company related to the competitors.
See the image attached to have an idea of how a perceptual map looks like.
The correct answer is d) "It's a way to show the position of the company in ten years." This is not a valid reason to create a perceptual map.
Explanation:The correct answer is d) "It’s a way to show the position of the company in ten years." This is not a valid reason to create a perceptual map. A perceptual map is a visual representation of how customers perceive and evaluate various products or brands in relation to each other. It is used to understand the positioning of a company in the current market and to identify opportunities for improvement or differentiation. However, it is not intended to predict the company's position in the future.
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Dave is having a problem with his satellite service. He goes online to look for a way to solve the problem, and runs across a troubleshooter application on the provider’s website. Which form of IT solution is he using?
Answer: expert system
Explanation: In simple words, an expert system refers to a computerized decision making system, used for problem solving, which uses both facts and theories to provide a solution of a complex problems.
Such kind of systems are usually used by organisation operating in finance or having to deal with activities involving high technology. These systems provide solutions to the problems that will take a lot of time if solved by any human being.
Over a five-year span, the Acme Company reduced the amount of labor it hired. At the same time, the marginal productivity of labor increased. Which of the following is a possible explanation for this observation
a. Organizational innovation
b. The law of diminishing marginal returns
c. Labor saving technical change
d. All of the above
Answer:
D) all of the above
Explanation:
Probably the single most labor reducing factor is new technology and how it is applied within a business. Automation is probably the single most important labor reducing factor in the US over the last 30 years. This is specially for factory workers, since automation is responsible for fewer industry jobs, not China.
New technologies increase marginal returns for labor and they also have changed organizations completely.
Computers, the internet, smartphones, Amazon, etc., have changed our world. Even the military has changed, a pilot can be located inside a US base and his airplane is flying a mission in the Middle East.