The quantity demanded of cigarettes decreases due to the excise tax imposed on them.
The extent of this reduction varies depending on the specific tax rate and other market factors. Generally, higher excise taxes lead to greater decreases in demand.
As the tax increases the price of cigarettes, consumers are inclined to cut back on their purchases or seek alternatives. This reduction in demand may lead to a decline in cigarette sales and, in some cases, an increase in illegal trade.
Policymakers must strike a balance between public health objectives and potential revenue implications when determining appropriate tax levels on cigarettes.
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Final answer:
The quantity of cigarettes demanded decreases with an excise tax, especially if the demand is elastic. This effect is greater in youth smoking. Taxes aim to raise revenue and reduce consumption, with their effectiveness depending on the elasticity of demand.
Explanation:
The quantity of cigarettes demanded decreases due to an excise tax as a consequence of the demand's elasticity. If cigarette demand is elastic, the quantity of cigarettes smoked reduces substantially with an increase in taxes. This effect is particularly notable among youth smoking, which is more elastic than adult smoking, meaning the quantity of youth smoking will fall by a greater percentage in response to a given percentage increase in price. Taxes on cigarettes aim to raise tax revenue for the government and discourage cigarette consumption. The effectiveness of these taxes, however, depends on how much they actually reduce cigarette consumption. When the cigarette tax is high enough, even if it reduces the quantity sold, it can still raise significant revenue if the reduced consumption is not too drastic.
Social recognition, in which social media is used to recognize employee performance on a daily basis, has not yet been found to be as effective as the one-on-one performance review or 360-degree feedback. A) True B) False
Answer:
The correct answer is letter "A": True.
Explanation:
Social media can be useful for different purposes but is not the best platform through which executives should provide employee appraisal because of its informal character. There are some other dynamic approaches such as 360-degree feedback in which not employers but also coworkers can rate employees' performance in their work frame, being this one of the most effective methods to boost their efficiency.
Since George is a shift manager, ________. a. he need not have any empirical skills b. his interpersonal skills are not important c. his conceptual skills are of the utmost priority d. his technical skills are of the utmost priority
Answer:
The correct answer is letter "D": his technical skills are of the utmost priority.
Explanation:
Shift managers require technical and conceptual skills. However, most of their job implies being in permanent interaction with subordinates in helping them perform their day-to-day duties efficiently. Then, the technical skills are likely to be more necessary for this type of job.
You are an analyst for a telecommunications company that is concerned about the number of customers leaving their landline business for cable competitors. The company needs to know which customers are leaving and attempt to mitigate continued customer loss. You have been asked to analyze customer data to identify why customers are leaving and potential indicators to explain why those customers are leaving so the company can make an informed plan to mitigate further loss.
Answer:
Currently, telecommunications companies that have had increases at the level of users or subscribers have been more than all the companies that are providing internet services and that additionally, in these services include a series of programs or platforms that are in trend.
The best plan that should have a enterprise of communication at this time would be necessary in these online platforms, such as offering data or broadband services or creating platforms where the series or television channels that more people watch.
Companies A and B each have the same level of total assets, the same tax rate, and the same earnings before interest and taxes (EBIT). Company A, however, has a higher debt ratio. Which of the following statements is most correct?a.Company A has a lower return on assets (ROA).b.Company A has a lower basic earning power (BEP).c.Company A has a lower times interest earned (TIE) ratio.d.Answers a and c are correct.e.All of the answers above are correct
Answer:
a.Company A has a lower return on assets (ROA).
c.Company A has a lower times interest earned (TIE) ratio.
That is options a and c
Explanation:
For company A to have high debt ratio means it has a higher debt which will reduce earnings. Company A's earnings will be less than Company B's.
ROA= Net income/Total assets
Since Company A's income is less than Company B's ROA for Company A will be less than that for Company B.
TIE = Earnings before Interest and Tax/Interest
Due to higher debt of company A it's interest will be higher resulting in low TIE.
Final answer:
The correct statement is that Company A, with a higher debt ratio than Company B, has a lower times interest earned (TIE) ratio since they have the same EBIT and total assets, but Company A has higher interest obligations.
Explanation:
When considering companies with the same level of total assets, tax rates, and earnings before interest and taxes (EBIT), the company with a higher debt ratio is Company A. The debt ratio is a measure of financial leverage. The effect of a higher debt ratio on Company A might result in a lower times interest earned (TIE) ratio compared to Company B, due to the higher interest obligations inherent in a higher level of debt. Since the return on assets (ROA) formula does not include interest expenses and both have the same EBIT and total assets, ROA would not be different between Company A and B. Similarly, basic earning power (BEP) would not be impacted since it factors in EBIT relative to total assets, and these are the same for both companies. Therefore, the most correct statement is that Company A has a lower TIE ratio.
The TIE ratio is crucial for assessing a company's ability to meet its interest obligations and indicates how many times a company can cover its interest charges with its pre-tax earnings. A lower TIE ratio implies decreased financial stability and increased risk of default.
Qualitative research methods __________.
a. focus on media ratings
b. are the best form of audience measurement
c. often use statistics to measure effects
d. provides non-numerical knowledge about communication
e. all of the above
Answer: d. provides non-numerical knowledge about communication
Explanation:
Qualitative research Methods mainly provide numerical information about what we are investigating, these are important because they bring us a little closer to knowing about the Target of the target market we want to reach.
An example of the qualitative information method could be the information of preferences about a product, such as a shampoo or soap, asking women in households according to the area that they want to hang and by asking these questions through a survey we can obtain the Information we want to know.
Final answer:
Qualitative research methods provide non-numerical knowledge about communication through techniques like interviews and focus groups, aimed at understanding people's opinions and experiences without the use of statistics.
Explanation:
Qualitative research methods provide non-numerical knowledge about communication(option d). This includes gaining insights into people's opinions, motivations, and experiences through methods such as in-depth interviews, focus groups, and content analysis. Qualitative methods allow researchers to explore concepts and phenomena in detail but do not typically involve statistical analysis.
Instead, they yield results such as words, pictures, and objects, which are then interpreted to understand their meaning within the context of the study. Some common qualitative techniques include conducting intensive interviews, engaging in participant observation, or holding focus groups. These methods are rooted in social sciences like anthropology, sociology, and psychology.
Which of the following transactions would be recorded if using the accrual basis of accounting but not if using the cash basis of accounting? A. Paying off loans B. Purchasing inventory on account C. Collecting customer payments D. Borrowing money
Answer:
B. Purchasing inventory on account
Explanation:
The Purchase of inventory on account is not recorded when the cash basis of accounting is recorded but where as it is recorded when accrual basis of accounting is used.
Answer:
Purchasing inventory on account
Explanation:
Purchasing inventory on account would be recorded if using the accrual basis of accounting but not if using the cash basis of accounting.
In case the purchases were made on credit accrual basis of accounting will be able to record it
1. 9.4. For process scheduling, does a low-priority value represent a low priority or a high priority?
Answer:
Priority programming is a process programming method based on priority. In this technique, the developer chooses the tasks to work according to priority, which is different from other types of programming, for example, a simple round-robin.
On UNIX and many other systems, higher priority values represent lower priority processes. Some of the systems, such as Windows, use the opposite convention: a higher number means a higher priority
Explanation:
Priorities can be dynamic or static. Static priorities are assigned during creation, while dynamic priorities are assigned according to the behavior of the processes while they are in the system. To illustrate, the planner could favor intensive input / output (I / O) tasks, allowing expensive requests to be issued as soon as possible.
Priorities can be defined internally or externally. Internally defined priorities make use of a measurable amount to calculate the priority of a given process. On the contrary, external priorities are defined using criteria beyond the operating system (OS), which may include the importance of the process, the type and sum of the resources used for the use of the computer, user preferences , trade and other factors such as politics etc.
Answer:
Priority programming is a process programming method based on priority. In this technique, the developer chooses the tasks to work according to priority, which is different from other types of programming, for example, a simple round-robin.
On UNIX and many other systems, higher priority values represent lower priority processes. Some of the systems, such as Windows, use the opposite convention: a higher number means a higher priority
Explanation:
Priorities can be dynamic or static. Static priorities are assigned during creation, while dynamic priorities are assigned according to the behavior of the processes while they are in the system. To illustrate, the planner could favor intensive input / output (I / O) tasks, allowing expensive requests to be issued as soon as possible.
Priorities can be defined internally or externally. Internally defined priorities make use of a measurable amount to calculate the priority of a given process. On the contrary, external priorities are defined using criteria beyond the operating system (OS), which may include the importance of the process, the type and sum of the resources used for the use of the computer, user preferences , trade and other factors such as politics etc.
Explanation:
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WHAT SHE SAID IM SO SRY L M A O
Opponents of free trade often want the United States to prohibit the import of goods made in overseas factories that pay wages below the U.S. minimum wage. Prohibiting such goods is likely to__________.
Answer:
harm the US economy
Explanation:
The cheaper goods allwos US citizens to purchase another goods and services which are home-made Thus, if the economy has to do these goods, maybe it doesn't have the know-how to be as efficient as their southasian counterparts and ends up with lower quality and more expensive goods take uses resources that could be better off somewhere else.
If the government close the economy we can see the examples in the world, Cuba, Venezuela and North Korea have a closed economy.
Clearly it is better to keep it open.
Flounder Company had the following stockholders’ equity as of January 1, 2020. Common stock, $5 par value, 20,700 shares issued $103,500 Paid-in capital in excess of par—common stock 299,000 Retained earnings 323,000 Total stockholders’ equity $725,500 During 2020, the following transactions occurred. Feb. 1 Flounder repurchased 2,000 shares of treasury stock at a price of $19 per share. Mar. 1 870 shares of treasury stock repurchased above were reissued at $17 per share. Mar. 18 530 shares of treasury stock repurchased above were reissued at $13 per share. Apr. 22 510 shares of treasury stock repurchased above were reissued at $21 per share.
Prepare the journal entries to record the treasury stock transactions in 2020, assuming Flounder uses the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Answer and Explanation:
Date Account Title and Explanation Debit Credit
Feb 1 Treasury Stock (2000*$19) $38,000
Cash (2000*$19) $38,000
(Repurchased 2,000 treasury stock @ $19 per)
Mar 1 Cash (870*$17) $14,790
Retained Earning {870*($19-$17)} $1,740
Treasury Stock(870*$19) $16,530
(Reissued 870 out of 2000 treasury stock @ $17 per)
Mar 18 Cash (530*$13) $6,890
Retained Earning {530*($19-$13)} $3,180
Treasury Stock(530*$19) $10,070
(Reissued 530 out of 2000 treasury stock @ $13 per)
Apr 22 Cash (510*$21) $10,710
Treasury Stock(510*$19) $9,690
Paid in Capital from Treasury Stock{510*($21-$19)} $1,020
(Reissued 510 out of 2000 treasury stock @ $17 per)
NOTE : loss of sale should be charges from Retained Earning.
If beginning work in process is 3,900 units, ending work in process is 3,700 units, and the units accounted for equals 11,200 units, what must units started into production be?
Answer:
started units 7,300
Explanation:
beginning WIP 3,900
started into production X
this sum should equal the amount for units accounted for
11,200 - 3,900 = 7,300 started units
The ending WIP and the trasnferred-out represent the units to be assigned for
You found that you should stock and sell 50 or 400 cans of beans per week in order to break even. In part (g) you are asked what price(s) you should set to break even. To answer this question, you should plug 50 and 400 into which of the following formulas? Question 3 options: A) R(q) = -0.005q2 + 2.5q B) p(q) = -0.005q + 2.5 C) P(q) = -0.005q2 + 2.25q - 100 D) C(q) = 100 + 0.25q
Answer:
Option C is correct P(q) = -0.005q^{2} + 2.25q - 100
Explanation:
Profit P(q) = R(q) – C(q)
Profit = Revenue – Cost
So,
P(q) = -0.005q^{2} + 2.5q - 100 – 0.25q
P(q) = -0.005q^{2} + 2.25q - 100
In order to find break even, you should plug 50 and 400 into the formula P(q) = -0.005q^{2} + 2.25q - 100
George is a manager at InnoBLAST Inc., a web-based applications company. In an attempt to promote new ideas, George decides to allow his engineering team to devote 15 percent of their work time to whatever projects they would like to work on and reduces their assigned workload. He then institutes a 30-minute period each morning where the team members are asked to look over their current project list for the day and develop more knowledge about a task before they move on to work on their assigned tasks.
The time period set aside each morning primarily helps promote _____ stages of the creative process.
A preparation and illumination
B incubation and verification
C illumination and verification
D verification and preparation
F preparation and incubation
Answer:
The correct answer is letter "E": preparation and incubation.
Explanation:
English professor Graham Wallas (1858-1932) proposed a model to explain the steps the human brain follows in the creative process. Those steps are preparation, incubation, illumination, and verification. In the preparation stage, individuals define a problem and its dimensions. In the next step, incubation, the problem is analyzed only internally for reflection.
Final answer:
George's 30-minute morning period for his team is geared toward enhancing the preparation and incubation stages of the creative process, by allowing them to review projects and let underlying thoughts mature. F is correct.
Explanation:
The time period set aside each morning in this context primarily helps promote the preparation and incubation stages of the creative process. The preparation stage is where individuals develop more knowledge about a task, which is exactly what George is implementing by having the team review their project list and tasks each morning. Incubation implies a period of unconscious problem solving that occurs away from active task engagement, and this method is improved through short breaks, such as the 30-minute period George has established for his team.
Hickory sold $32,000 of the inventory and has agreed to pay warranty expenses for its customers. These are expected to be $1,600 and occur evenly over the next four months (i.e., starting in June). What is the amount of Hickory’s May expenses when applying the matching principle?
Answer:
$43,600
Explanation:
The computation of the amount of Hickory’s May expenses when applying the matching principle is shown below:
Accrual expenses = Cost of Goods Sold + Advertising expenses+ Delivery Costs + Warranty Costs
= $32,000 + $8,000 + $2,000 + $1,600
= $43,600
The purchase of inventory would not be recognized as it comes under the balance sheet. Hence, ignored it
According to the matching principle, Hickory's expenses in May will be $0. The warranty expenses accrued from the sale will start being recognized from June, not May. Hence, no warranty expense is recognized in May.
Explanation:Hickory's expenses in May, according to the matching principle, will be $0. This is because the warranty expenses for the inventory sold are expected to begin in June, and are not counted in May's expenses. This principle in accounting stipulates that revenues and their associated costs should be recognized in the same financial period. The period in which Hickory will start recognizing the costs is when the expenses will start happening, which is starting June, not in May.
To illustrate, if it was expected that warranty expenses would occur over five months starting May, then for May, $1600/5 = $320 would have been recognized as warranty expenditure. However, since the warranty expenditure will only start from June, the May expense is $0.
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Morgan Sondgeroth Inc. began operations in January 2018 and reported the following results for each of its 3 years of operations. 2018 $260,000 net loss 2019 $40,000 net loss 2020 $800,000 net income At December 31, 2020, Morgan Sondgeroth Inc. capital accounts were as follows. 8% cumulative preferred stock, par value $100; authorized, issued, and outstanding 5,000 shares $500,000 Common stock, par value $1.00; authorized 1,000,000 shares; issued and outstanding 750,000 shares $750,000 Morgan Sondgeroth Inc. has never paid a cash or stock dividend. There has been no change in the capital accounts since Sondgeroth began operations. The state law permits dividends only from retained earnings. Instructions a. Compute the book value of the common stock at December 31, 2020. b. Compute the book value of the common stock at December 31, 2020, assuming that the preferred stock has a liquidating value of $106 per share.
Final answer:
To compute the book value of the common stock at December 31, 2020, subtract the net losses from the net income to determine retained earnings. Divide the retained earnings by the number of outstanding common shares to get the book value per share. If the preferred stock has a liquidating value, add it to the retained earnings before dividing.
Explanation:
To compute the book value of the common stock at December 31, 2020, we need to determine the retained earnings of Morgan Sondgeroth Inc. Retained earnings can be calculated by subtracting the net income from the net losses of the previous years. So, for Morgan Sondgeroth Inc., retained earnings at December 31, 2020, would be:
$800,000 (2020 net income) - $260,000 (2018 net loss) - $40,000 (2019 net loss) = $500,000
The book value of the common stock can be calculated by taking the retained earnings and dividing it by the number of outstanding common shares. In this case, the book value would be:
$500,000 (retained earnings) / 750,000 (outstanding common shares) = $0.67 per share
If we assume that the preferred stock has a liquidating value of $106 per share, then the book value of the common stock at December 31, 2020 would be:
$500,000 (retained earnings) + ($106 x 5,000) (preferred stock liquidating value) / 750,000 (outstanding common shares) = $0.93 per share
One thing that distinguishes normative economic principles from positive economic principles is that:
A. normative principles are pessimistic and positive principles are optimistic.
B. normative principles reflect social norms, and positive principles reflect universal truths.
C. normative principles tell us how people should behave, and positive principles tell us how people will behave.
D. normative principles tell us how people will behave, and positive principles tell us how people should behave.
Answer:
The correct answer is letter "C": normative principles tell us how people should behave, and positive principles tell us how people will behave.
Explanation:
The discrepancy between the normative and positive statements in economics is substantially big. Economists use both types of statements when addressing economic issues with varying degrees of objectivity. Normative economics involves premises related to subjectivity and purpose. Positive economics, on the other hand, states facts and gives no sign of acceptance or disapproval.
"The correct answer is C. normative principles tell us how people should behave, and positive principles tell us how people will behave.
To understand the distinction between normative and positive economic principles, it is important to define each term:
- Normative economic principles are prescriptive statements that reflect personal or societal judgments about economic outcomes or policies. They are value-laden and often begin with ""should"" or ""ought to."" These principles are concerned with what the economy should be like and involve value judgments.
- Positive economic principles, on the other hand, are descriptive statements that can be tested and verified through empirical observation and research. They are objective in nature and describe how the economy actually works. Positive statements are factual and can be proven true or false.
Given these definitions:
A. normative principles are pessimistic and positive principles are optimistic. - This statement is incorrect because normative and positive principles are not characterized by optimism or pessimism. Instead, they differ in their focus on values versus facts.
B. normative principles reflect social norms, and positive principles reflect universal truths. - This statement is partially correct in that normative principles can reflect social norms, but positive principles do not necessarily reflect universal truths. Positive principles are based on empirical evidence and can change with new evidence.
C. normative principles tell us how people should behave, and positive principles tell us how people will behave. - This statement is correct. Normative principles are about what ought to be, prescribing how people should behave or how economies should function. Positive principles describe the actual behavior of individuals and the functioning of economies as observed and analyzed through data and evidence.
D. normative principles tell us how people will behave, and positive principles tell us how people should behave. - This statement is incorrect because it confuses the nature of normative and positive principles. It reverses their definitions, suggesting that normative principles are predictive when they are actually prescriptive, and that positive principles are prescriptive when they are actually predictive or descriptive.
Any activity that results in the conversion of resources into products that can be used in consumption is called A. production. B. transformation. C. derived demand. D. substitution.
Answer:
A. production
Explanation:
The production or manufacturing process is when the raw materials are converted into a finished good ready for use for the population who compose the economy of hte given region.
The other economic activities are extraction which is take the resource from the land (mining, argiculture and other)
and services which provides services to citizen without the exchange of good
The termed used to describe the process of converting resources into products that can be consumed is 'production'. The terms transformation, derived demand and substitution, while related, do not exactly define this process.
Explanation:The correct answer to the question, 'What is any activity that results in the conversion of resources into products that can be used in consumption?' is A. production. In the context of business and economics, production refers to the processes and methods used to transform tangible inputs (raw materials, semi-finished goods, or subassemblies) and intangible inputs (ideas, information, knowledge) into goods or services. B. transformation, C. derived demand, and D. substitution are related terms, but they don't have the exact meaning mentioned in the question. Thus, the activity of converting resources into usable products is called production, not transformation, derived demand, or substitution.
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The competition within each strategic group is: a. typically very low. b. more intense than the competition between different strategic groups. c. less intense than the competition between different strategic groups. d. an unknown factor in the analysis of competitive practices within a firm's strategic group.
Answer:B. more intense than the competition between different strategic groups.
Explanation: Competition is a rivalry between two or more group of people or organizations or business entities with the sole aim of maintaining a good market share,a good profits etc
Competition can be within a strategic group or between strategic groups. Competition within strategic group is a rivalry that takes place between business entities that produce similar product or who are within an industry,this type is more intense than between strategic groups( Organisations of different industry).
Federal income taxes are ________. A. added to arrive at an employee's net pay B. deducted to arrive at an employee's net pay C. not borne by the employee D. deducted to arrive at an employee's gross pay
Answer:
The correct answer is letter "D": deducted to arrive at an employee's net pay.
Explanation:
Federal income taxes represent the main monetary resource from where the government can fund its diverse projects. These sources are also allocated to deal with common social issues such as building highways, improving education or funding social programs such as Medicare.
When it comes to wages, the federal income taxes are deducted from the gross income of workers resulting in their net payment which is the actual amount of money employees see in their checks.
Federal income taxes are deducted from an employee's wages to arrive at their net pay, directly influencing the take-home pay but required for tax compliance.
Federal income taxes are deducted to arrive at an employee's net pay. These taxes, often referred to as withholding tax, pay-as-you-earn tax (PAYE), or pay-as-you-go tax (PAYG), are crucial deductions from an employee's wages. These deductions are meant for advance payment of income tax, social security contributions, and various insurances such as unemployment and disability. It is important to understand that these deductions significantly impact an employee's 'take-home pay' but are essential for compliance with government tax policies. Employers withhold these taxes directly from employees' wages and remit them to the government, thereby reducing the gross pay to derive the net pay that the employee receives.
The Gini ratio is A. the area between the diagonal line and the Lorenz curve divided by the total area below the diagonal line. B. the area between the diagonal line and the Lorenz curve. C. the sum of the income shares for the middle quintiles divided by the income shares of the other quintiles. D. the fraction of income earned by the quintiles with the largest income share.
Answer:A
Explanation:
Gino ratio is defined as a ratio with value between 0 and 1:the numerator is the area between the Lorenz curve of the distribution line, the denominator is the area under the uniform distribution line.
Will and Lyndsey are married with no dependents and file a joint tax return. In 2019, they paid $3,000 in qualified student loan interest in addition to $22,550 in itemized deductions. What is the total of their "FROM AGI" deductions in 2019?
O $22,250
O $27,400
O $24,400
O $25,250
Answer:
The FROM AGI deductions for year 2019 are $24,400.
Explanation:
FROM AGI deduction for a year are the maximum of the following two items
itemized deductions standardized deductionsHere itemized deduction is given as $22,550 where as value of standardized deduction is $24,400 (for 2019)
Thus as the maximum of two is valid thus the FROM AGI deductions for year 2019 are $24,400.
The world price of grapefruits is above the price that currently prevails in Cuba in the absence of trade. Assuming that Cuba is a small economy compared to the rest of the world, what happens if Cuba decides to open up trade with the world grapefruit market?
Answer:
The price of domestic Cuban grapefruit for consumers will ... Increase
Cuban exports of grapefruits will ... Increase
Consumer surplus in Cuba will ... Decrease
Production surplus in Cuba will ... Increase
Explanation:
1. An economy consists of three workers: Larry, Moe, and Curly. Each works ten hours a day and can produce two services: mowing lawns and washing cars. In an hour, Larry can either mow one lawn or wash one car; Moe can either mow one lawn or wash two cars; and Curly can either mow two lawns or wash one car.
Answer:
A. The first scenario where all three workers spend all their time mowing lawns,
In 10 hours = Larry mows 10 lawns, Moe mows 10 lawns, and Curly mows 20 lawns = (Total is 40 lawns mowed, and 0 cars washed)
B. The second scenario where all three workers spend all their time washing cars
In 10 hours = Larry washes 10 cars, Moe washes 20 cars, and Curly washes 10 cars = (Total is 40 cars washed, and 0 lawn mowed)
C. The third scenario where all three workers spend half their time on each activity then;
In 5 hours for mowing lawns and 5 hours for washing cars we get:
Larry mows 5 lawns and washes 5 cars
Moe mows 5 lawns and washes 10 cars
Curly mows 10 lawns and washes 5 cars
In total they mowed 20 lawns and washed 20 cars
D. The fourth scenario, Larry spends half his time on each activity, while Moe only washes cars and Curly only mows lawns.
Larry mows 5 lawns and washes 5 cars
Mow washes 20 cars
Curly mow 20 lawns
In total, 25 lawns will be mowed and 25 cars will be washed
When this is plotted, the production frontier would produce a bow out shape, which is as a result of opportunity cost.
From the diagram, it can be clearly seen that Scenario C is inefficient because it is possible to mow more lawns and also wash more cars without actually reducing the production of others to 25 each.
Yes C is inefficient because more lawns can be mowed and more cars can be washed by simply just reallocating time of the 3 workers.
Explanation:
The query concerns economic concepts of specialization and division of labor. Here Larry, Moe, and Curly specialize in tasks where they are most productive. Their productivity dictates their involvement in the labor market, influencing their earnings and the wider economic activity.
Explanation:The question about Larry, Moe, and Curly's productivity in an economy revolves around the concept of specialization and division of labor. This is a core economic concept where workers focus on performing specific tasks more efficiently than others based on their abilities. In the provided scenario, each worker is able to produce two services but at different rates - this is an example of their specialization.
The division of labor allows Larry, Moe, and Curly to choose the tasks they're most efficient at, thus maximizing their productivity within the economy. Their individual productivity levels would then determine their earning potential and standard of living. By understanding their specialist areas, they can make informed decisions about their work, becoming more involved in the labor market and potentially increasing their wages.
The circular flow diagram provides a great overview of economic activity, showing how households (like our workers) and firms interact in two key markets - labor and goods/services. In this model, our workers would be selling their labor to firms in return for wages, which they can then spend on goods and services in the marketplace.
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In a given amount of time John can produce either 40 pounds of vegetables or 10 pounds of chicken. In the same amount of time George can produce either 25 pounds of vegetables or 5 pounds of chicken. In this simple economy if John and George decide to specialize and exchange with each other then we can expect ten pounds of chicken to trade for at least ___ pounds of vegetables but not more than ___ pounds of vegetables. Enter numerical values in each blank, rounded to two decimal places as necessary.
Answer:
Ten pounds of chicken to trade for at least 40 pounds of vegetables but not more than 50 pounds of vegetables
Explanation:
Vegetables Chicken Trade Off Ratio
John 40 10 4:1 (40/10) or 1:0.25 (10/40)
George 25 5 5:1 (25/5) or 1:0.20 (5/25)
John has comparative advantage in Chicken and George has comparative advantage in Veggies because :
John's chicken opportunity cost, in veggies < George (4<5). George's veggies opportunity cost, in chicken < John (0.20<0.25). George is more (5X) productive in veggies than chicken, than John (4X). John is less unproductive in chicken than veggies (1/4th), compared to George (1/5th).So, John will sell Chicken to George & George will sell veggies to John. Gains from trade are when each get trade ratio better than their their own trade off ratio.
It implies: John gets >' 4 pounds veggies per chicken pound' and George gets > '0.20 pound chicken per veggie pound'. Unitary method:- '1chicken : 4veggies' = '10chickens : 40veggies' and '0.20chicken : 1veggie' = '10chickens : 50 veggies' .What are some of the unintended effects of rent control?
a. Rent-control laws incentivize the development of upscale housing instead of low-income units.
b. Rent-controlled units have a high ownership turnover rate. c. More low-income residents are able to find more housing in rent-controlled cities in the long term.
d. Rent control decreases landlords’ profits and subsequently lower their incentive to invest in property upkeep.
Rent control, though intended to keep housing affordable, can result in incentives for the development of upscale housing over low-income units, high turnover of rent-controlled units and decreased property upkeep due to lower profits.
Explanation:Rent control is a form of government regulation that restricts the amount landlords can increase rent for housing. Unintended effects of rent control include:
Rent-control laws can incentivize the development of upscale housing instead of low-income units, which could potentially lead to affordable housing shortages. There's a high ownership turnover rate in rent-controlled units. This happens because, as rents are restrained by control laws, landlords may choose to sell their properties instead of renting them out at a reduced rate. Rent control can decrease landlords’ profits and subsequently lower their incentives to invest in property upkeep, leading to a deterioration in the quality of rental units over time.Learn more about Rent Control here:
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Prescott Bank offers you a five-year loan for $75,000 at an annual interest rate of 6.8 percent. What will your annual loan payment be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
Y= $18,194.05
Explanation:
This is a form of annuity that involves payment of equal amounts monthly for 5 years. These amount are made up of part of the interest and part of the principal.
Using the annuity formula
P= Y{1-(1/[1+r]^n)/r}
Where P = Initial loan amount
Y = yearly payment
r= interest rate
n= number of years
75,000= Y{1-(1/[1+0.068]^5)/0.068}
75,000= Y{1-(0.719689)/0.068}= Y{0.280311/0.068}
Y= 75,000/4.122227
Y= $18,194.05
The annual loan payment will be approximately $20,165.07 when rounded to two decimal places.
To calculate the annual loan payment, we can use the formula for the present value of an annuity:
[tex]\[ PMT = \frac{P \times r}{1 - (1 + r)^{-n}} \][/tex]
Where:
- PMT is the annual loan payment,
- P is the principal amount of the loan (in this case, $75,000),
- r is the periodic interest rate (annual interest rate divided by the number of periods per year),
- n is the total number of payments (in this case, 5 years multiplied by the number of periods per year).
Given:
- P = $75,000
- Annual interest rate (r ) = 6.8% = 0.068
- Number of years (n) = 5
First, we need to convert the annual interest rate to a periodic interest rate. Since the loan is for 5 years and paid annually, there's only one payment per year, so the periodic interest rate (r) is the same as the annual interest rate.
Now, we can plug in the values:
[tex]\[ PMT = \frac{75,000 \times 0.068}{1 - (1 + 0.068)^{-5}} \]\[ PMT = \frac{75,000 \times 0.068}{1 - (1.068)^{-5}} \]\[ PMT = \frac{75,000 \times 0.068}{1 - 0.747258} \]\[ PMT = \frac{75,000 \times 0.068}{0.252742} \]\[ PMT = \frac{5100}{0.252742} \]\[ PMT ≈ 20165.07 \][/tex]
Therefore, the annual loan payment will be approximately $20,165.07 when rounded to two decimal places.
Wes acquired a mineral interest during the year for $10,000,000. A geological survey estimated that 250,000 tons of the mineral remained in the deposit. During the year, 80,000 tons were mined, and 45,000 tons were sold for $12,000,000. Other related expenses amounted to $5,000,000. Assume the mineral depletion rate is 22%. a. What is the taxable income before the deduction for depletion? $ b. Under cost depletion, what is the amount of the deduction? $ c. Under percentage depletion, what is the amount of the deduction? $ d. Wes's lowest taxable income after the depletion deduction is $
Answer:
a. $7,000,000
b. $1,800,000
c. $2,640,000
d. $4,360,000
Explanation:
Given:
Total investment = $10,000,000
Total Units = 250,000
Unit sold = 45,000
Sale value = $12,000,000
Expenses = $5,000,000
Depletion rate = 22%
The Taxable Income before the deduction for depletion = Gross Total Income - Related Expenses.The Taxable Income before the deduction for depletion
= $12,000,000 - $5,000,000
= $7,000,000
Under Cost Depletion
Amount of the deduction = (Total Investment in Asset/Total Unit )* Actual unit sold.
Amount of the deduction = ($10,000,000/250,000) * 45,000
Amount of the deduction = $1,800,000
Under Percentage DepletionAmount of the deduction = lesser of (Gross income's 50%) or (depletion rate% of total sale)
Amount of the deduction = lesser of (7,000,000 50%) or (12,000,000 22%)
= $2,640,000
Wes's lowest taxable income after the depletion deduction = The Taxable Income before the deduction for depletion - amount of the deduction
Wes's lowest taxable income after the depletion deduction = $7,000,000
- $2,640,000
= $4,360,000
A customer bought a $1,000 par convertible subordinated debenture at par, convertible into common at $32 per share. If the bond's market price increases by 12.5%, the parity price of the stock will be:a. $32b. $36c. $37.50d. $38.40
Answer:
correct option is b. $36
Explanation:
given data
bought = $1,000 par convertible
convertible into common = $32 per share
bond market price increases = 12.5%
solution
we know that conversion ratio is fixed when the convertible security are issued and it does not change
we have bond is issued with a conversion price = $32
so as per each bond converting conversion ratio will be
conversion ratio = [tex]\frac{1000}{32}[/tex] = 31.25 : 1
so by every bond which is converted , then receives = 31.25 share
so now bond price will be = $1125
parity price of the stock will as = [tex]\frac{1125}{31.25}[/tex]
parity price of the stock = $36
correct option is b. $36
The parity price of the stock when the market price of a $1,000 par convertible subordinated debenture increases by 12.5%, and is convertible at $32 per share, will be $36.
The subject of the question is related to convertible subordinated debentures and their relationship to the parity price of stocks. A convertible bond can be a complex financial instrument which is a type of bond that can be converted into a set number of shares of the issuer's stock. Specifically, this question addresses the calculation of the parity price of a stock when a convertible bond's market price increases.
If a customer bought a $1,000 par convertible subordinated debenture at par, convertible into common stock at $32 per share, and the bond's market price increases by 12.5%, this would affect the stock's parity price. An increase of 12.5% on the bond's par value ($1,000) results in a new bond price of $1,125. As the conversion ratio is $1,000/$32 = 31.25 shares, the parity price of the stock after the bond price increase will be $1,125/31.25 shares = $36 per share. Therefore, The parity price of the stock will be: b. $36.
Ramos Company has the following unit costs: Variable manufacturing overhead$15 Direct materials 13 Direct labor 17 Fixed manufacturing overhead 12 Fixed marketing and administrative 11 What cost per unit would be used for product costs under full absorption costing?
Answer:
Unitary cost= $56
Explanation:
Giving the following information:
Variable manufacturing overhead $15
Direct materials $13
Direct labor $17
Fixed manufacturing overhead $12
Fixed marketing and administrative $11
Under absorption costing, the fixed overhead is allocated to the product cost:
Unitary cost= direct material + direct labor + variable overhead + fixed overhead
Unitary cost= 13 + 17 + 15 + 11= $56
The cost per unit for product costs under full absorption costing is $57.
Explanation:The cost per unit for product costs under full absorption costing is the sum of the variable manufacturing overhead, direct materials, direct labor, and fixed manufacturing overhead costs per unit.
Variable manufacturing overhead per unit: $15Direct materials per unit: $13Direct labor per unit: $17Fixed manufacturing overhead per unit: $12Add all the costs per unit: $15 + $13 + $17 + $12 = $57
Therefore, the cost per unit for product costs under full absorption costing is $57.
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Eric is the advertising head of a firm. He is extremely imaginative, creative, and curious. Which of the following personality dimensions does Eric possess? Customary thinking Openness to experience Resistance to change Neuroticism Cautiousness
Answer:
Openness to experience
Explanation:
Eric being imaginative, creative and curious shows that he is open minded and has the ability to explore other people's opinions of a situation.
Being imaginative and creative requires one to look at all possibilities when trying to find a solution. This traits also describes openness to experience.
Answer:
Openness to experience.
Explanation:
In this question, given Eric's listed characteristics, as an imaginative, creative and curious person, it can be said that he has the personality dimension "openess to experience".
This is one of the domains used in the five-factor model that describes human personality.
There are five factors that determine the characteristics of a person who has the dimension of the opening, which are:
active imagination (fantasy), aesthetic sensitivity, attention to inner feelings, preference for variety and intellectual curiosity.We can say that Eric has the ideal profile to be head of advertising in a company, since this role requires creativity and innovation to develop advertising campaigns that engage and involve the target audience to achieve business goals.
Renee, a project manager, is responsible for developing a project plan for her new project. To do so, she needs to consider all the tasks that would need to be done to produce the deliverable and make a list of them. In this scenario, Renee needs to prepare a(n) _____ for the project.
a) FMEA chart
b) RACI Matrix
c) work breakdown structure
d) project charter
e) contingency plan
Answer:
A) FMEA
Explanation:
the project is moced developing the make list
In this scenario, Renee needs to prepare a FMEA chart for the project. Hence, option A is correct.
What is FMEA chart?FMEA is a qualitative and systematic methodology that is often built within a spreadsheet that helps practitioners anticipate potential issues with a product or process.
Here is an example of a condensed FMEA for installing seatbelts in an automotive production line. As you can see, three potential failure modes have been identified. Due to its RPN of 144, the second failure mode is given top priority for process improvement.
FMEA is a systematic, proactive method for evaluating a process to ascertain where and how it might fail as well as to evaluate the relative impact of various failures in order to identify the areas of the process that need the most improvement.
Thus, option A is correct.
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