Deterministic is the term that refers to the ability to predict the amount of time required for a transaction to take place when all relevant factors are known and understood.
Deterministic models presuppose that established average rates are applied to large populations with no random deviations. For instance, if each of 10,000 people has a 95% chance of surviving for a year, we can reasonably assume that 9500 of them will.
Deterministic is the opposite of random (from determinism, which denotes the absence of a free will). Without using randomness, a deterministic model enables you to calculate a future occurrence precisely. When something is deterministic, you have all the information you need to confidently anticipate (determine) the outcome.
what term refers to the ability to predict the amount of time required for a transaction to take place when all relevant factors are known and understood?
RandomizationDeterministicConversionOpportunisticTo learn more about Deterministic click here:
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is this statement true or false? the aegean sea is an arm of the mediterranean between turkey and greece.
The statement, the Aegean sea is an arm of the Mediterranean between Turkey and Greece, is true.
What was the name of the Aegean Sea before?The Aegean Sea was referred to as an archipelago in the past. Greek mythology states that it was named after Aegeus or Aegeas, the father of Theseus, who hurled himself into the sea and perished there after believing his son to be dead. Greek mythology describes Aegeus as the grandson of Cecrops and the son of Pandion. He was the father of Theseus and the king of Athens. When Aegeus believed his son to be dead, he drowned in the sea. The Aege was thereafter used to refer to the sea.
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based on the random walk theory, if a stock's price decreased last week, then this week the price: a. will continue last week's decline b. will stand still until new information is released c. has an equal chance of going either up or down d. will reverse last week's loss and go up
Based on the random walk theory, if a stock's price decreased last week, then this week the price of Option c. has an equal chance of going either up or down.
According to the random walk theory, a stock price or market's historical movement or trend cannot be utilized to forecast its future behavior. According to the random walk theory, taking on more risk would make it difficult to outperform the market.
According to the Random Walk Theory, the ideal course of action is to simply invest in a portfolio that mimics the entire universe of stocks because it is impossible for individuals to outperform market average performance over the long term.
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when government increased spending during the 1930s in an attempt to create jobs and stimulate the economy, this is an example of expansionary:
When government increased spending during the 1930s in an attempt to create jobs and stimulate the economy, this is an example of expansionary fiscal policy.
Fiscal policy refers to adjustments made to the way the government spends and collects money in an effort to affect the course of the economy. By altering the level of expenditure and tax income, the government can have a short-term influence on the amount of economic activity (typically measured by GDP).
Economic activity is predicted to be sped up by expansionary fiscal policy, which entails either an increase in government spending, a decrease in tax revenue, or a combination of the two. By contrast, contractionary fiscal policy entails either a decrease in spending, an increase in tax revenue, or a combination of the two.
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how does an increase in the price level affect the quantity of real gdp supplied in the long run?
In the long run, changes in the price level have no impact on GDP, but an increase in the price level increases the amount provided to real GDP.
Now, According to the question:
In the long run, shifts in price levels have little impact on the aggregate supply curve. This is so that the amount delivered does not, over time, depend on variations in the price level. When the money pay rate remains constant but the price level rises, the real wage rate declines and employment grows. The amount of real GDP that is supplied rises. When the money wage rate remains unchanged and the price level declines the real wage rate increases and employment declines. The amount of real GDP that is supplied falls. Real GDP and the price level will ultimately revert to their previous values notwithstanding an initial period of lower prices and greater real GDP. Inflation is the term used to describe when prices increase. Deflation is the term for when prices decrease. The relationship between pricing and customer purchasing power is also present. In general, the buying power of money decreases as price levels rise.
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In the iowa car crop, steven landsburg argues that importing cars from japan and exporting wheat from iowa is analogous to…
A) importing wheat.
B) exporting cars.
C) growing cars in Iowa.
D) growing wheat in Japan.
In The Iowa Car Crop, steven landsburg argues that importing cars from japan and exporting wheat from iowa is analogous to growing cars in Iowa.
The Iowa Car Crop bankruptcy in Steven E. Landsburg’s book The Armchair Economist it’s based on a story Professor Landsburg discovered from David Friedman.
The tale of The Iowa Car Crop manages to give an explanation for everything we want to realize about worldwide exchange idea primarily based on the perception that we will genuinely develop motors in Iowa. It’s an amazingly easy story and but exquisite at the identical time – economics at its satisfactory as Professor Landsburg reminds us.
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gilliam industries records revenue of $6.4 million for an accounting period. in that same accounting period, they have a beginning balance of $392,000 and an ending balance of $439,000 in the accounts receivable account. how should the cash flows from operating activities be adjusted to account for these items? why? assume gilliam uses the indirect method.
If gilliam industries records revenue of $6.4 million for an accounting period. the cash flows from operating activities should be adjusted to account for these items by: Using the indirect method, Gilliam will have have to adjust for the change in Accounts Receivable, leading to $47,000 decrease in cash flows from operating activities.
How to find the change in account receivable?Using this formula to find the change in account receivable
Change in account receivable = Beginning balance - Ending balance
Change in account receivable = $392,000 − $439,000
Change in account receivable = -$47,000
When using the indirect method to calculate cash flow from operating activities, the net income amount have to be adjusted for operating items that tend to have effect on net income only.
Based on the information given Gilliam will have have to adjust for the change in Accounts Receivable, leading to $47,000 decrease in cash flows from operating activities.
Therefore the company will have have to adjust for the change in Accounts Receivable.
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the file taxdata contains information from federal tax returns filed in 2007 for all counties in the united states (3,142 counties in total). create an excel table based on these data. using excel table functionality, answer the following questions. click on the datafile logo to reference the data. (a) which county had the largest total adjusted gross income in the state of florida? miami-dade county (b) which county had the largest average adjusted gross income in the state of florida?
Palm Beach is Florida's wealthiest city. In Palm Beach, the average household income is $169,500. Additionally, Palm Beach is the wealthiest city in Florida, home to 30 billionaires as of 2022 estimates.
What is Florida's mean gross income?Transportation of the populace, Workers age 16 and older's average commute time (in minutes), 2017–2021, 27.9 Earnings & Poverty The median household income from 2017 to 2021 will be $61,777.
Which county in Florida has the highest income?A Smart Asset research found that the Monroe State in the Florida Keys is leading the in the way, but two Treasure State counties aren't far behind.
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what term describes the registration of a domain name (website address) solely for the purposes of trying to sell the name back to the rightful trademark owner for a profit?
Cybersquatting describes the registration of a domain name (website address) solely for the purposes of trying to sell the name back to the rightful trademark owner for a profit.
What is Cybersquatting?
The word "cybersquatting," as it is known in the general public, is most usually used to refer to the intentional, abusive, and bad faith registration of a domain name in violation of trademark rights. But because of its widespread use, the phrase means different things to different individuals. For instance, while some individuals distinguish between the two phrases, others add "warehousing," or the process of registering a number of domain names that match to trademarks with the goal of selling the registrations to the trademark owners. [1] In the earlier meaning, the cybersquatted can make an exorbitant offer to sell the domain to the person or business that owns a trademark that appears inside the name.
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Seasonality causes comparability problems in ratio analysis. a common solution is to use an average account balance as opposed to an ending account balance.
a. True
b. Falsw
Seasonality causes comparability problems in ratio analysis. Using an average account balance rather than an ending account balance is a typical solution.. TRUE
How is ratio analysis impacted by seasonal factors?The worth of the company's assets may be arbitrarily increased or decreased by seasonal inventory changes or revenue fluctuations that are not based on sales.
Ratio analysis is the examination or evaluation of the line items included in the company's financial statements. It could be used to examine a variety of business aspects, including profitability, liquidity, solvency, and organizational effectiveness.
Numerous common ratios are frequently employed in accounting to assess the overall financial health of a firm or other entity.
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Who benefits the most from taxes?
The benefits of taxation are shared among both individuals and government entities.
Individuals benefit from taxes in a variety of ways, including the provision of public services that are funded through taxation. These services—such as roads, schools, police, fire departments, and other public infrastructure—are essential to the functioning of a healthy society, and are funded largely through taxes.
Taxation also helps to fund government programs that provide subsidies for education and health care, as well as Social Security, Medicare, and other social safety net programs that help to protect vulnerable individuals from poverty and hardship.
On the other hand, governments benefit from taxes in a few key ways. The most obvious is that taxation provides governments with the revenue they need to fund public services and programs. Taxation also helps governments to manage the economy. Taxation also helps governments to distribute the burden of paying for public services and programs more equitably, as those with higher incomes are taxed at a higher rate than those with lower incomes.
In conclusion, both individuals and governments benefit from taxation. Individuals benefit from the provision of public services and programs funded through taxes, while governments benefit from the revenue generated through taxation and the ability to influence economic activity.
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When entering into an income based repayment plan option, a student must contact their ________________________ to select the repayment plan option
Before selecting a Repayment plan, the student must contact their loan servicer.
Before we take a decision to choose any kind of loan repayment plan, one must contact their service providers to ensure that they know every single detail about the plan and then take it. A loan servicer helps us to understand which repayment plan is suitable for us. The final amount of loan and tenure is given by them.
Every year, borrowers repaying under this plan must resubmit documentation of income and family size to their lender(s). These can get rejected if when enquiring they find that the borrower is not fit to repay.
If the borrower's income changes during the year, then they can apply for a recalculation of the monthly repayment amount.
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An important reason why the Federal Reserve would not want to keep interest rates at 0% forever is that: a) it restricts the money supply, making it harder for banks to lend money. b) it limits the ability of the Fed to use expansionary monetary policy when the next recession occurs. c) it makes borrowing for homes and major purchases more expensive. d) it raises the possibility of higher unemployment because lower interest rates slow economic growth.Which of these is NOT a benefit of countries adopting the euro? a) It allows the euro to be a major reserve currency. b) It becomes easier to address regional differences in economic performance. c) It reduces transaction costs of doing business across member countries. d) It promotes cooperation among countries who now share a common monetary policy
An important reason why the Federal Reserve would not want to keep interest rates at 0% forever is that: it restricts the money supply, making it harder for banks to lend money.
The correct option is (A).
What is the federal reserve?
The United States of America's central banking system is called the Federal Reserve System. With the passage of the Federal Reserve Act on December 23, 1913, it was established in response to the need for centralized control of the monetary system to prevent financial crises following a string of financial panics.
The interest rate at which depository institutions overnight lend reserve holdings to other depository institutions on an uncollateralized basis is known as the federal funds rate in the United States. Reserve balances are sums kept at the Federal Reserve to satisfy the reserve requirements of depository institutions.
The interest rate that banks charge one another to lend or borrow excess reserves overnight is known as the federal funds rate. Banks are required by law to maintain a minimum reserve.
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which of the following scenarios best describes an oligopolistic industry? a a college has one bookstore selling textbooks to students. b coca-cola and pepsi sell most of the soft drinks consumed around the world. c thousands of soybean farmers sell their output in a global commodities market. d hundreds of firms produce similar, but differentiated, types of shoes. e a single cable company serves customers in a small town.
The scenario best describes an oligopolistic industry as Coca-Cola and Pepsi sell most of the soft drinks consumed around the world. Thus the correct option is B.
What is the oligopolistic industry?Small numbers of suppliers control markets in an oligopoly. These markets are regarded as the opposition to other sectors or emerging industries. They stand particularly strongly behind their products and services in the marketplace.
The majority of soft drinks consumed on a regular basis around the world are sold by Coca-Cola and Pepsi, who fiercely compete in this oligopolistic market.
Therefore, option B is appropriate.
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who probably has more elastic demand for a hertz rental car? person a reserves a car online weeks before a trip; person b walks up to a hertz counter after he walks off an airplane after a four-hour flight? who probably gets charged more?
The buyer who made a reservation in ahead will pay less because their desire is more flexible.
When Hertz demands far to much, it's simple to visit alternative car hire webpage and instantly make a comparison, so the individual whom purchases in ahead likely possesses a more flexible requirement. However, after a lengthy travel, few individuals are eager to put it on hold in the Hertz section.
find out how much it will cost, and afterwards enter into Nationwide or Entrepreneurship queue and wait once again. Due to their desire to skip the lineups at all other leasing firms, this responsible party is most likely paid in advance.
As opposed to individuals with price elasticity, those in close substitutes are now more responsive to price changes.
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A _____ plan identifies the objectives of the advertising campaign and clarifies the strategies which will be used to accomplish the objectives.
An advertising plan identifies the objectives of the advertising campaign and clarifies the strategies which will be used to accomplish the objectives.
Strategy is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty. In the sense of the "art of the general", which included several subsets of skills including military tactics, siegecraft, logistics etc., the term came into use in the 6th century C.E. in Eastern Roman terminology, and was translated into Western vernacular languages only in the 18th century. From then until the 20th century, the word "strategy" came to denote "a comprehensive way to try to pursue political ends, including the threat or actual use of force, in a dialectic of wills" in a military conflict, in which both adversaries interact.[2]
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Today the right to peaceably assemble is equated with the right of free speech and with freedom of the press. These rights and freedoms became merged
a. when Congress passed a law doing so.
b. when the states amended the Constitution to do so.
c. when a new constitutional convention was held.
d. by precedent.
e. by practice.
Often, the theoretically correct, or rational, policy is not enacted because
a. administrators lack the discretion to adopt rational policies.
b. bureaucrats, as humans, behave irrationally.
c. administrative rules hinder consideration of all options.
d. the policy will result in too much job loss.
e. the 'right' policy is politically unacceptable.
The American Bar Association's role in screening candidates for the federal bench was defined by
a. national law.
b. custom.
c. the Constitution.
d. the Judiciary Act of 1946.
e. the Supreme Court.
For many years, when government turned its attention to a major problem, its usual approach was to
a. create a coalition of business and citizen groups.
b. assign the problem to an existing agency with a minimum of disruption of routine.
c. delay action until sufficient staff and resources became available.
d. create a new agency or bureau.
e. create a study of the problem.
Today the right to peaceably assemble is equated with the right of free speech and with freedom of the press. These rights and freedoms became merged when Congress passed a law doing so.
No law may be passed by Congress that establishes a certain religion, forbids its practice, limits press or speech freedom, or restricts the ability of the public to peacefully assemble and petition the government for redress of grievances. Unless a similar proposal is currently being examined in that chamber, if it is approved, it advances to the other chamber. If neither chamber approves it, the measure is dead. If a legislation receives the support of both the House and the Senate, it is sent to the President.
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What is a major difference between banks and credit unions ?
Savings accounts and certificates of deposit are just a couple of the financial products that banks and credit unions both provide (CDs). The primary
distinction between the two is that credit unions are not-for-profit organizations that share their profits with their members, as opposed to banks, which are primarily for-profit businesses. Savings accounts and certificates of banks are often for-profit businesses. Credit unions frequently cater to a particular area or demographic.
Now let's discuss the benefits of credit unions. Banks have a national or regional base, whereas credit unions are based locally. This is crucial to take into account because credit unions provide more individualized customer care than banks and enable members to connect over similar interests such as employment and residence. The main goal of a credit union is to serve the requirements of its members. Credit unions are able to give their members lower fees.
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how does an increase in the price level affect the quantity of real gdp supplied in the long run?
When the money wage rate remains unchanged and the price level rises, the real wage rate declines and employment grows. The amount of real GDP supplied grows.
The real wage rate increases and employment declines when the price level decreases and the money pay rate remains constant. Real GDP supply is falling in volume. Real GDP deviates from potential GDP and moves along the AS curve when the price level changes but the money pay rate and other resource costs stay fixed.
The AS curve leans to the right as potential GDP rises along with aggregate supply. Additionally, the GDP potential line moves to the right. When the money pay rate or other resource rates fluctuate, short-run aggregate supply adjusts and the AS curve moves as well. The link between the amount of real GDP provided and the price level, while all other factors affecting production plans are held constant, is known as the aggregate supply.
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tanning company analyzes its receivables to estimate uncollectible accounts. the accounts receivable balance is $340,000 and credit sales are $1,000,000. an aging of accounts receivable estimates that $13,600 of the outstanding receivables will be uncollectible. what adjusting entry will tanning company make if allowance for doubtful accounts has a credit balance of $2,800 before adjustment?
The adjusting entry that Tanning Company will make for the estimated outstanding of $13,600 is as follows:
Adjusting Journal Entry:Debit Bad Debt Expenses $10,800
Credit Allowance for Doubtful Accounts $10,800
(To record the bad debt expense and adjust the allowance for doubtful accounts to a balance of $13,600.)
What is an adjusting journal entry?An adjusting journal entry is made at the end of the financial period to cause the accounting records to agree with the accounting principles.
For example, the accrual concept requires the recognition of transactions for the period whether or not they involve cash movements.
The prudence principle requires allowances to be made for doubtful uncollectible accounts.
Accounts receivable balance = $340,000
Credit sales = $1,000,000
Estimated uncollectible = $13,600
Allowance for doubtful accounts balance = $2,800 (credit)
Bad Debt Expenses $10,800 Allowance for Doubtful Accounts $10,800 ($13,600 - $2,800)
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assuming that the ricardian equivalence holds completely true, what would be the impact of a $10 million increase in the government surplus of a country? group of answer choices private savings would decrease by exactly $10 million, so private investment and trade balance would stay constant the sum of private savings, trade surplus and private investment would increase by exactly $10 million the trade surplus would decrease by exactly $10 million, so private savings and private investment would stay constant the trade deficit would increase by exactly $10 million, so private savings and private investment would stay constant
According to the Ricardian Equivalence, a government surplus would not affect private savings, private investment, or the trade balance. So private savings and private investment would stay constant.
What exactly is a Ricardian equivalence?According to the economic theory known as Ricardian equivalence, the impacts on the economy as a whole will be the same whether government spending is paid for with current taxes or with future taxes (and current deficits).
What would occur if Ricardian equivalence were to hold?If Ricardian equivalence is entirely accurate, then any increase in government spending that raises the budget deficit would result in a proportionate fall in consumption spending since households would be more inclined to save in anticipation of their eventual tax obligations.
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when the federal reserve increases the federal funds rate, how would it impact the economy?
When the federal reserve increases the federal funds rate, it could lead to an increase in unemployment, a recession and it would impact the economy.
The federal reserve's increase in the federal fund's target rate has resulted in making credit more expensive overall. Everyone ends up paying more in interest, since loans are more expensive for both firms and consumers when interest rates are higher.
When the federal funds rate is raised, the Fed sells bonds. By sending checks to the Federal Reserve, banks and nonbank buyers of these bonds can do so. Due to the fall in reserves, banks are compelled to cut back on lending to maintain the required reserve ratio. To maintain a strong economy, the Fed controls the nation's monetary policy and has an impact on the cost and availability of credit and money.
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explain the effect on the demand for reserves or the supply of reserves of the following fed policy action: an increase in the interest rate paid on reserves a. this would decrease the demand for reserves. b. this would decrease the supply of reserves. c. this would raise the interest rate at which the demand curve becomes horizontal. d. this would raise the interest rate at which the supply for reserves becomes horizontal.
The impact of the ensuing Fed policy move on the supply or demand for reserves would be increased by this, increasing the rate of interest at which demand curve becomes horizontal.
What is the Federal Reserve's primary goal?monitoring and controlling banks and other significant financial institutions to guarantee the stability of the country's banking and financial sector and to safeguard the credit rights of customers. preserving the financial system stability and limiting potential systemic risk in the financial markets.
What is the current Fed rate for 2022?Visit How You Make Money for additional details. The target range for the federal funds rate was recently increased by the Federal Reserve to 4.25%–4.50%. The rate now stands at its highest level since December 2007 as a result of the 50 basis point hike. The rate increase for 2022 is the seventh in a row.
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a zero-based budget is a budget that is continuously updated so that the next 12 months of operations are always budgeted.
true
false
The assertion that the upcoming twelve months of operations would always operate on a rolling budget is untrue.
Are Budget and Avis the same?The American holding company for vehicle rental companies, Avis Budget Group, has its main office in Perfect area, New Jersey. It is the parent firm of various companies, including Zipcar, Budget Truck Rental, Avis Car Rental, Dollar Rent a Car, and Budget Rent a Car.
Which is the superior rental agency, Budget or Avis?Despite the fact that there isn't much of a pricing difference, budget is thought to be less expensive. However, Avis is more well-known since it has existed for a longer time and has a richer past. Win for Avis. Limits on mileage Unless otherwise stated, the majority of Avis' rental cars come with unlimited mileage, whilst Budget's are more constrained.
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a piece of newly purchased industrial equipment costs $990,000 and is classified as seven-year property under macrs (macrs schedule). calculate the annual depreciation allowances and end-of-the-year book values for this equipment.
With straight line method, the annual depreciation is $141,286.
Ending Book Values are:
$848,714 $707,428 $566,142 $424,856 $283,570 $142,284 $1,000MACRS is the name of the tax depreciation plan used in the US. Modified Accelerated Cost Recovery System is known as MACRS. According to MACRS, fixed assets are categorized into a certain asset class with a predetermined depreciation period. A comprehensive collection of depreciation tables for each of these classes has been made available by the Internal Revenue Service. 7-year property, 7-year depreciation period Any property not specifically listed in another class, office furniture and fittings, agricultural machinery and equipment, natural gas gathering lines. The fact that MACRS Depreciation was created to expedite the identification of depreciation expense for tax reasons is one of its advantages. Businesses are encouraged to invest in more capital assets since doing this enables them to record less taxable income in the short term.
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susan, a management major, is taking an overload of classes this term. on a team project in one of her classes, one of her teammates sees how busy she is and does the final proofreading of the team project for her. susan is most likely feeling:
Susan, a management major, is taking an overload of classes this term. on a team project in one of her classes, one of her teammates sees how busy she is and does the final proofreading of the team project for her. susan is most likely feeling: gratitude
Gratitude is a valuable emotion that has many useful effects. However, there is a lack of research on gratitude in organizations. A model of gratitude that encompasses episodic gratitude at the event level, persistent gratitude at the individual level, and collective gratitude at the organizational level is the subject of this article. The outcomes of employee gratitude's emergence at the individual and organizational levels of analysis are then taken into consideration, as are the kinds of human resource initiatives that businesses can implement to foster it. Finally, we discuss the advantages of showing gratitude to employers and employees. As a result, we have a better understanding of how organizations express gratitude and how organizations can influence workplace emotions on multiple levels. According to Mueller (2012), organizations are frequently criticized as environments that foster egocentrism and selfishness. Vogel, 2006). This criticism seems to be reinforced by media coverage of financial scandals and corporate greed, with many observers lamenting employees' growing sense of entitlement (Twenge & Campbell, 2010). As a result, organizations face a variety of issues, including increased conflict, rudeness, deviance, and employee turnover (Fisk, 2010; Martinko and Harvey, 2009). At the same time, there is a hint of a new scenario. According to Cameron & Spreitzer (2012), some organizations cultivate gratitude and appreciation, thereby encouraging positive social behavior and high-quality relationships. Gratitude may play a significant role in these organizations.
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which economist thought that government should stay out of economic decisions, that the economy should be guided by the forces of supply and demand alone
In this, John Maynard Keynes economist thought that government should stay out of economic decisions, that the economy should be guided by the forces of supply and demand alone.
Who was John Maynard Keynes?British economist John Maynard Keynes (1883–1946), often considered as the father of contemporary macroeconomics, is the source of the name, theories, and guiding principles of Keynesian economics.
Keynes warned that the harsh terms the Versailles peace deal imposed on Germany to finish World War I would spark a new European conflict in The Economic Consequences of the Peace, published in 1919.
The difference between Keynesians and other economists is their support for activist measures to lessen the amplitude of the business cycle, which they consider to be one of the most pressing issues in the economy.
Therefore, in this, John Maynard Keynes economist thought that government should stay out of economic decisions, that the economy should be guided by the forces of supply and demand alone.
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a system in which a shareholder can accumulate all of his or her votes and vote them all for one candidate or split them among several candidates is known as
A voting technique known as cumulative voting aids in enhancing the power of minority shareholders to choose directors. When the company has numerous openings on its board, this method enables shareholders to cast all of their votes for a single candidate.
An individual or legal entity registered by a corporation as the legitimate owner of shares of the share capital of a public or private corporation is referred to as a shareholder. Members of a corporation are sometimes referred to as shareholders. When a person or legal entity's name and other information are entered in a corporation's register of shareholders or members, they are deemed to be shareholders in that corporation. Unless mandated by law, the corporation is not required or allowed to inquire as to who actually owns the shares in question. In most cases, a corporation cannot own its own stock. The percentage of shares a shareholder owns determines how much power they have over the company. Legally speaking, shareholders of a corporation are distinct from the corporation itself.
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suppose the economy is in long-run equilibrium. in a short span of time, there is a large influx of skilled immigrants, a major new discovery of oil, and a major new technological advance in electricity production. in the short run, we would expect question 7 options: the price level to fall and real gdp to rise. the price level and real gdp both to stay the same. all of the answers are possible. the price level to rise and real gdp to fall.
Suppose that long-term equilibrium exists in the economy. There is a rapid increase in the number of skilled immigrants,
a significant new oil discovery and a significant new technological advancement in the generation of power. We would anticipate option 7 in the immediate term: a decline in the price level and an increase in real GDP. Both the market price and real gdp will remain unchanged. All solutions are conceivable. rising price levels and a decline in real GDP
GDP
The total monetary or market worth of all the products and services produced inside a nation's boundaries during a certain time period is known as the gross domestic product (GDP). As a general indicator of total domestic production,
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Select the incorrect statement regarding the contribution margin income statement.
a. The contribution statement is acceptable for external reporting provided a balance sheet is alsoprovided.
b. The contribution margin represents the amount available to cover fixed expenses andthereafter to provide profit.
c. The contribution margin approach requires that all costs be classified as fixed or variable.
d. Assuming no change in fixed costs, a $1 increase in contribution will result in a $1 increase inprofit.
Option (a): As long as a balance sheet is also supplied, the contribution statement is acceptable for external reporting.
How is the revenue statement formatted for external reporting?For the purpose of external reporting, GAAP specifies the use of absorption costs. The traditional income statement is used to apply this costing method. Product costs and period costs are the two groups of costs that are separated by absorption costing.
Which reports incorporate third-party reporting?The most formal level of external reporting is the disclosure of a full set of audited financial statements, which include an income statement, balance sheet, and statement of cash flows. The recipients may consent to receiving unaudited financial accounts for interim periods.
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Zion sun chairs manufactures 3,575 beach chairs each month. Determine the minimum sales price zion sun chairs must sell each chair for to earn a monthly profit of $65,000, if the total monthly fixed costs are $17,363. 50 and the variable cost per chair is $52. 17.
Zion sun chairs manufactures 3,575 beach chairs each month. To obtain monthly profit of $65,000, the minimum sales price is $75.21 per unit chair.
The formula to calculate the profit is:
Profit = revenue from sales - total cost
revenue = sales price per unit x number of units sold
total cost = fixed cost + variable cost
variable cost = variable cost per unit x number of units produced
Parameters given:
number of units produced (sold) = 3,575
Profit = $65,000,
Fixed cost = $17,363.50
Variable cost per unit = $52.17
Hence,
variable cost = 52.17 x 3,575 = 186,507.75
total cost = 17,363.50 + 186,507.75 = 203,871.25
Profit = revenue - total cost
65,000, = revenue - 203,871.25
revenue = 203,871.25 + 65,000 = 268,871.25
sales price = 268,871.25 / 3,575 = 75.21
Hence, the minimum sales price for the chair is $75.21
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