The Utilitarian Principle, which motivates us to do what leads to the greatest benefit (often at the price of the few), is shown through eminent domain. Option d is Correct.
An ethical philosophy known as utilitarianism establishes right from wrong by emphasising results. It embodies consequentialism in some way. According to utilitarianism, the decision that will result in the greatest good for the largest number of people is the most morally right one.
The four components of utilitarian theories are consequentialism, welfarerism, impartiality, and aggregationism. Because it accepts two extra components—first, hedonism as a theory of happiness and, second, the broad perspective of population ethics—classical utilitarianism stands out from other forms of utilitarianism. Option d is Correct.
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The selling concept holds that consumers will not buy enough of the organization's products unless the organization undertakes a large ________ and ________ effort. Group of answer choices Marketing, promotion Advertising, promotion Selling, promotion Advertising, marketing
The selling concept holds that consumers will not purchase enough of an organization's products unless it undertakes a large selling and promotional effort.
The selling concept is a marketing philosophy that emphasizes heavily on selling and promotional efforts in order to persuade consumers to buy an organization's products. According to this concept, the focus is on aggressively pushing the products to the consumers, rather than trying to understand and meet their needs. This approach assumes that consumers are only interested in purchasing products that are heavily advertised and promoted, and that they will not make purchases unless they are convinced through these efforts. However, in today's marketplace, consumers are more informed and have access to a wide range of products and information, which makes them more discerning in their purchasing decisions. While selling and promotional efforts are still important in marketing, organizations must also consider other factors such as consumer needs and preferences, competitive landscape, and product quality in order to create a successful marketing strategy that will resonate with consumers and drive sales.
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An unplanned decrease in inventories results in Group of answer choices a decrease in planned investment. an increase in planned investment. actual investment that is greater than planned investment. actual investment that is less than planned investment.
An unplanned decrease in inventories results in an increase in planned investment.
When inventories unexpectedly decrease, businesses will need to increase production to replenish their stock, which leads to an increase in planned investment to purchase the necessary inputs to increase production. Conversely, an unplanned increase in inventories would lead to a decrease in planned investment because businesses would slow down production to work through the excess inventory before ordering more inputs.
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True/false: The NCAA acted like a monopoly when it limited the number of football broadcasts. It continues to act like a monopoly when it negotiates broadcasts rights to its basketball tournament. It also acts like a monopsony when it limits the returns to college athletes. Group of answer choices True False
The given statement "The NCAA acted like a monopoly when it limited the number of football broadcasts. It continues to act like a monopoly when it negotiates broadcasts rights to its basketball tournament. It also acts like a monopsony when it limits the returns to college athletes." is true as the NCAA was accused of controlling the athletes.
In a monopoly there is only one seller giving them considerable power to regulate the price and supply of a good or service. In the case of the NCAA, their authority over the quantity of football broadcasts and the discussions surrounding the acquisition of broadcast rights to its basketball tournament gave them the power to determine the conditions of entry to these well-known sporting events.
As a result, other broadcasters are less able to provide alternatives, which reduces market competition and gives the NCAA significant market power. A monopsony is a market structure where there is only one buyer giving them considerable power to control the price and quantity of a good or service.
Some claim that the NCAA practices violate antitrust laws by unfairly restricting competition and limiting the economic opportunities of college athletes and this has led to criticism and legal challenges of the NCAA actions.
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Timor rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20. His fixed costs are $100,000 and his target profit is $20,000. For Timor, to earn his target profit, he will need to rent out ________ rooms.
For Timor, to earn his target profit, he will need to rent out 1,200 rooms.
Profit = (Revenue - Variable Costs) - Fixed Costs
Where revenue is the total amount earned from renting out rooms, variable costs are the costs directly associated with renting out rooms (such as cleaning and maintenance), and fixed costs are the costs that Timor incurs regardless of how many rooms he rents out (such as rent, utilities, and salaries).
Using the information given in the question, we can plug in the values:
$20,000 = (Revenue - $20 per room) - $100,000
$20,000 + $100,000 = Revenue - $20 per room
$120,000 = Revenue - $20 per room
$100 per room = Revenue / Number of rooms
Number of rooms = Revenue / $100 per room
Number of rooms = $120,000 / $100 per room
Number of rooms = 1,200
Therefore, Timor needs to rent out 1,200 rooms to earn his target profit of $20,000.
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A country purchases more goods and services from residents of foreign countries than residents of foreign countries purchase from it. This country has
The country in this scenario has a trade deficit, which means that it imports more than it exports. This can have both positive and negative effects on the country's economy.
On the positive side, it allows consumers to have access to a wider variety of goods and services at potentially lower prices. However, it also means that the country is sending more money overseas than it is receiving, which can impact the overall balance of payments and potentially lead to a decrease in the value of its currency. In order to address a trade deficit, a country may try to increase its exports by promoting its industries and products, or by implementing trade policies that make it more attractive for foreign buyers.
It may also work to decrease its imports by reducing domestic demand for foreign goods or by imposing tariffs or other trade barriers. Overall, a trade deficit can be a complex issue that requires careful consideration of a country's economic goals and priorities. It is important for policymakers to weigh the potential benefits and drawbacks of different approaches to addressing the issue and to consider the broader impacts on the country's economy and global trade relationships.
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Cuso Company purchased equipment on January 1, 2016, at a total invoice cost of $400,000. The equipment has an estimated salvage value of $10,000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 2017, if the straight-line method of depreciation is used
To calculate the accumulated depreciation at December 31, 2017, using the straight-line method, we need to first determine the annual depreciation expense.
The formula for annual straight-line depreciation is:
(cost of asset - salvage value) / useful life
In this case:
($400,000 - $10,000) / 5 = $78,000 per year
To find the accumulated depreciation at December 31, 2017, we need to multiply the annual depreciation expense by the number of years the equipment has been in use:
$78,000 x 2 = $156,000
Therefore, the accumulated depreciation at December 31, 2017, is $156,000.
Cuso Company purchased equipment on January 1, 2016, for $400,000. The equipment has an estimated useful life of 5 years and an estimated salvage value of $10,000. To determine the accumulated depreciation at December 31, 2017, we need to use the straight-line method of depreciation.
The straight-line method evenly spreads the depreciation expense over the useful life of the asset. To calculate the annual depreciation expense, we use the following formula:
(cost of asset - salvage value) / useful life
Plugging in the numbers:
($400,000 - $10,000) / 5 = $78,000 per year
This means that the equipment is depreciating by $78,000 per year.
To find the accumulated depreciation at December 31, 2017, we need to multiply the annual depreciation expense by the number of years the equipment has been in use. Since the equipment was purchased on January 1, 2016, it has been in use for 2 years as of December 31, 2017.
$78,000 x 2 = $156,000
Therefore, the accumulated depreciation at December 31, 2017, is $156,000.
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During its most recent fiscal year, Dover, Inc. had total sales of $3,160,000. Contribution margin amounted to $1,480,000 and pretax income was $370,000. What amount should have been reported as fixed costs in the company's contribution margin income statement for the year in question
To calculate the number of fixed costs that should have been reported in Dover, Inc.'s contribution margin income statement for the most recent fiscal year, we can use the formula:
Fixed costs = Total sales - Variable costs - Operating income
Variable costs can be calculated by subtracting the contribution margin from total sales:
Variable costs = Total sales - Contribution margin
Variable costs = $3,160,000 - $1,480,000
Variable costs = $1,680,000
Substituting the values we have:
Fixed costs = $3,160,000 - $1,680,000 - $370,000
Fixed costs = $1,110,000
Therefore, the amount that should have been reported as fixed costs in Dover, Inc.'s contribution margin income statement for the most recent fiscal year is $1,110,000. This means that $1,110,000 of the company's expenses were fixed and did not change with the level of sales.
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Select the best response to the following questions. The result of an) lawsuit can include reinstating those who were wrongly terminated. O operations cultural dimension affirmative action O diversity
Affirmative action is the most suitable term to address the question's focus on reinstating those who were wrongly terminated.
The best response to the question about the result of a lawsuit and its relation to reinstating wrongly terminated individuals would be "affirmative action." Affirmative action is a policy that aims to promote equal opportunities for members of disadvantaged groups, such as women and racial minorities, who have historically been underrepresented in various sectors. It includes measures taken by organizations, governments, or other institutions to ensure fair representation and equal opportunities for these groups. In the context of a lawsuit, affirmative action can play a significant role in addressing wrongful terminations based on discrimination or bias. For example, if an employee has been terminated due to their race or gender, the court may order the employer to reinstate the employee and provide any necessary accommodations or adjustments. This helps to ensure that the affected individual is treated fairly and that similar situations do not occur in the future. In this context, operations and cultural dimensions refer to different aspects of an organization's functioning and may not directly address the issue of wrongful termination or reinstatement. Diversity, on the other hand, is a broader concept that encompasses various aspects of inclusiveness and representation, but it is not specifically related to the result of a lawsuit.
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Two types of adjustments to list or quoted price are Group of answer choices discounts and allowances. profit-oriented and marginal adjustments. incremental costs and incremental revenues. fixed-price and dynamic price adjustments.
The answer to the question is that the two types of adjustments to list or quoted price are discounts and allowances.
It is important to note that discounts refer to a reduction in the list or quoted price that is typically offered as an incentive to encourage customers to purchase a product or service. Allowances, on the other hand, are deductions from the list or quoted price that are made for a variety of reasons, such as to compensate for defects, damage, or other issues that may arise after the sale.
It is also worth mentioning that there are other types of adjustments that may be made to the list or quoted price, such as profit-oriented and marginal adjustments, incremental costs and incremental revenues, and fixed-price and dynamic price adjustments. However, these are typically less common and may be more specific to certain industries or situations.
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The allocation of the overall break-even point for a multi-product firm, expressed in terms of sales dollars, to individual products A and B is based on the ______.
The allocation of the overall break-even point for a multi-product firm, expressed in terms of sales dollars, to individual products A and B is based on the contribution margin of each product.
The contribution margin is calculated by subtracting the variable cost of producing the product from the selling price.
To allocate the overall break-even point, the total fixed costs of the firm are divided by the weighted average contribution margin of all the products. The weighted average contribution margin is calculated by multiplying the contribution margin of each product by its percentage of total sales and then summing those values.
Once the weighted average contribution margin is determined, the break-even point for each product can be calculated by dividing the product's fixed costs by its contribution margin. The resulting number represents the minimum amount of sales dollars that the product must generate in order to cover its fixed costs and break even.
By allocating the break-even point to individual products, a multi-product firm can better understand the profitability of each product and make informed decisions about pricing, production, and marketing strategies.
Therefore, the allocation of the overall break-even point for a multi-product firm, expressed in terms of sales dollars, to individual products A and B is based on the contribution margin of each product.
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Why would a company adopt an undifferentiated targeting strategy when there is so much evidence of the benefits of a differentiated strategy
An undifferentiated targeting strategy is where a company targets the entire market with one product or service. While a differentiated targeting strategy involves targeting specific segments of the market with products or services that are customized to meet their specific needs.
Although there is evidence that a differentiated targeting strategy can be more effective, there are still some reasons why a company may choose to adopt an undifferentiated targeting strategy. For example, the company may have limited resources or capacity to create multiple products or services for different segments of the market. Additionally, the company may be entering a new market and may not have enough information to differentiate their products or services. Finally, the company may have a product or service that is suitable for the entire market and does not require customization. Overall, while a differentiated targeting strategy can be more effective, there are still valid reasons why a company may choose to adopt an undifferentiated targeting strategy.
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Profits produced by the laboring classes are accrued by business owners who use these profits for reinvestment or to enrich themselves. This key crime-producing effort of modern corporate capitalism is termed _______.
The key crime-producing effort of modern corporate capitalism that involves the accrual of profits produced by the laboring classes by business owners for reinvestment or personal enrichment is commonly referred to as "exploitation."
This term refers to the unequal distribution of wealth and power between the working class and the capitalist class, which enables the latter to benefit from the labor of the former without providing fair compensation or opportunities for upward mobility.
Exploitation can take many forms, such as low wages, inadequate benefits, unsafe working conditions, and limited job security, all of which contribute to a cycle of poverty and economic instability for workers while enabling business owners to accumulate wealth and maintain their position of power.
This dynamic has been criticized by many social and economic justice advocates, who argue that it perpetuates inequality and undermines the values of democracy and human dignity.
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In addition to producing the popular iPod and iPad, Apple also helps design the components as well as the processors. It also owns its own retail stores. Apple therefore operates in the hardware, software, services, and retail industries. This is an example of
Apple is an example of a diversified company that operates in multiple industries including hardware, software, services, and retail.
It not only produces popular products such as the iPod and iPad but also designs their components and processors. Apple's ownership of its own retail stores allows it to control its sales channels and enhance the customer experience. Overall, Apple's business model and success can be attributed to its ability to innovate and provide integrated solutions across multiple industries.
In addition to producing the popular iPod and iPad, Apple also helps design the components as well as the processors. It also owns its own retail stores. Apple, therefore, operates in the hardware, software, services, and retail industries. This is an example of diversification, as Apple is involved in multiple market segments and industries to expand its business and reduce risks associated with relying on a single industry.
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Ross is a sole proprietor who started his business on June 1st. In May, he paid salaries of $7,000 and legal fees for the business formation of $4,500, before starting his business. How much can he immediately expense, if any, of startup cost and organizational expenditures
Ross, a sole proprietor who started his business on June 1st, can immediately expense $5,000 as startup costs and $5,000 as organizational expenditures, considering he paid $7,000 in salaries and $4,500 in legal fees for business formation in May.
Ross can immediately expense up to $5,000 of startup costs and $5,000 of organizational expenditures in the year his business begins, subject to a $50,000 phase-out threshold. In this case, his startup costs include the salaries of $7,000, while the organizational expenditures consist of the legal fees of $4,500.
Since both of these expenses are below the $50,000 threshold, he can immediately expense $5,000 for each category. The remaining startup costs and organizational expenditures can be amortized over 180 months, starting from the month the business begins.
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A contract issued by a local authority that gives a single firm the right to sell its goods within an exclusiye market is a
The contract issued by a local authority that gives a single firm the right to sell its goods within an exclusive market is known as a monopoly.
This type of contract is typically granted by a government or local authority, and it allows a company to be the only provider of a certain good or service within a particular geographic area.
A monopoly is granted in order to protect the interests of the company that is granted the contract, as well as to ensure that the citizens within the local area have access to the goods or services they need.
In some cases, a monopoly can be beneficial to consumers, as it can lead to lower prices and higher quality products, since the company has no competition to worry about.
However, there are also potential drawbacks to a monopoly, including the possibility of price gouging, lack of innovation, and reduced consumer choice.
Therefore, it is important for local authorities to carefully consider the potential benefits and drawbacks before granting a monopoly contract to a single firm. Additionally, it is important to monitor the market to ensure that the company is not abusing its monopoly power or engaging in anti-competitive practices.
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True or false: If the tax treatment of an expenditure is uncertain, it should be deducted rather than capitalized under conservative accounting principles.
Its True because Under conservative accounting principles, if the tax treatment of an expenditure is uncertain, it is generally safer to deduct it rather than capitalize it.
This is because capitalizing an expenditure may result in a larger tax liability if the deduction is ultimately disallowed by the tax authorities. if the tax treatment of an expenditure is uncertain, it should be deducted rather than capitalized under conservative accounting principles. This approach ensures that potential tax liabilities are minimized and adheres to the principle of conservatism in accounting.
Deducting the expenditure, on the other hand, may result in a smaller tax liability if the deduction is ultimately allowed.
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When Sam's Sandwiches were priced at $6, he sold 70 each day during lunch. When he reduced the price to $4 a sandwich, he sold 80 each day. Using the midpoint formula, the own price elasticity for Sam's Sandwiches would be
The midpoint formula for calculating price elasticity of demand is:
Price elasticity of demand = ((Q2-Q1)/((Q1+Q2)/2)) / ((P2-P1)/((P1+P2)/2))
Where Q1 and P1 represent the initial quantity and price, respectively, and Q2 and P2 represent the new quantity and price, respectively.
Using this formula and the given information, we can calculate the own price elasticity of demand for Sam's Sandwiches as follows:
Price elasticity of demand = ((80-70)/((70+80)/2)) / (($4-$6)/(($4+$6)/2))
Price elasticity of demand = (10/75) / (-2/5)
Price elasticity of demand = -0.6667
Based on this result, we can say that Sam's Sandwiches are relatively inelastic, since the absolute value of the elasticity is less than 1. This means that a 1% decrease in price will result in less than a 1% increase in quantity demanded. In other words, reducing the price from $6 to $4 led to an increase in quantity demanded from 70 to 80 sandwiches, but the percentage increase was less than 16.7% (10/70). If Sam wants to increase sales further, he may need to consider other factors such as advertising, product quality, or variety.
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Coral Inc.'s preferred stock sells for $90 per share and pays a dividend of $10 per share. When it issues new preferred, it will net $80 per share after $10 floatation cost. What is Coral's cost of the preferred
Coral Inc.'s cost of preferred stock is 12.5% when Coral Inc.'s preferred stock sells for $90 per share and pays a dividend of $10 per share.
Coral Inc.'s cost of preferred stock can be calculated using the dividend and net proceeds from the issuance of new preferred shares. The cost of preferred stock is essentially the rate of return that investors require in order to hold onto the preferred stock.
Using the given information, we can calculate the cost of preferred stock as follows:
Cost of preferred stock = Annual dividend / Net proceeds per share
Annual dividend = $10 per share
Net proceeds per share = $80 per share
Cost of preferred stock = $10 / $80 = 0.125 or 12.5%
Therefore, Coral Inc.'s cost of preferred stock is 12.5%. This means that investors require a 12.5% rate of return in order to hold onto the company's preferred stock. It's important to note that this rate may change over time, based on market conditions and other factors. Additionally, it's important for Coral Inc. to consider the cost of preferred stock when making financial decisions, as it can impact the company's overall cost of capital.
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International companies typically move from an international division structure to a global structure with the expectation to:
International companies typically move from an international division structure to a global structure with the expectation to achieve greater coordination and integration of operations across different countries and regions, and to better leverage the company's global resources and capabilities.
In an international division structure, the company's operations in different countries are managed as separate divisions, which can lead to duplication of functions, inefficiencies, and a lack of coordination. By moving to a global structure, the company can create a more unified and integrated approach to managing its operations, products, and services on a global scale. This can help the company to achieve economies of scale, reduce costs, and respond more quickly to changing market conditions and customer needs.
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Wildhorse University sells 5,900 season basketball tickets at $140 each for its 14-game home schedule. Give the entry to record (a) the sale of the season tickets and (b) the revenue recognized after playing the first home game. (
To record the sale of the season tickets, Wildhorse University would debit Cash for $826,000 and credit Season Ticket Revenue for $826,000. This is because the university received cash for the sale of the season tickets and recognized revenue as the tickets were sold, even though the games have not yet been played.
After playing the first home game, Wildhorse University would need to recognize the revenue earned from that game. Assuming each game has an equal value, the revenue recognized after the first home game would be $59,000 ($140 x 5,900 tickets / 14 games). To record this revenue, Wildhorse University would debit Season Ticket Revenue for $59,000 and credit Unearned Season Ticket Revenue for $59,000. This is because at the time of the season ticket sale, the university had not yet earned revenue from any of the games, so the revenue was recorded as unearned. After the first game, the university has now earned revenue for one of the games and can recognize that revenue.
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Consider a call option on an asset with an exercise price of $100, a put option on that same asset with an exercise price of 100, and a forward contract on the asset with an exercise price of $100, all expiring at the same time. Assume that at the expiration, the price of the asset is $110. Explain what happens from the perspective of the long position for each derivative:
The forward contract locks in the price of the asset and eliminates the risk of price fluctuations for the long position.
At the expiration, let's analyze each derivative from the perspective of the long position for the given asset prices:
1. Call option with an exercise price of $100:
a) Asset price at $105: The call option is in-the-money, as the asset price is higher than the exercise price. The long position holder exercises the option, buying the asset for $100 and selling it for $105, making a profit of $5.
b) Asset price at $95: The call option is out-of-the-money, as the asset price is lower than the exercise price. The long position holder does not exercise the option, and the option expires worthless.
2. Put option with an exercise price of $100:
a) Asset price at $105: The put option is out-of-the-money, as the asset price is higher than the exercise price. The long position holder does not exercise the option, and the option expires worthless.
b) Asset price at $95: The put option is in-the-money, as the asset price is lower than the exercise price. The long position holder exercises the option, selling the asset for $100 and buying it back for $95, making a profit of $5.
3. Forward contract with an exercise price of $100:
a) Asset price at $105: The long position holder is obligated to buy the asset for $100, as per the forward contract. They buy it for $100 and sell it for $105, making a profit of $5.
b) Asset price at $95: The long position holder is still obligated to buy the asset for $100, despite the lower market price. They buy it for $100 and sell it for $95, incurring a loss of $5.
The complete question is:
Consider a call option on an asset with an exercise price of $100, a put option on that same asset with an exercise price of 100, and a forward contract on the asset with an exercise price of $100, all expiring at the same time. Assume that at the expiration, the price of the asset is $110. Explain what happens from the perspective of the long position for each derivative:consider a call option on an asset with an exercise price of $100, a put option on that same asset with an exercise price of $100, and a forward contract on the asset with an exercise price of $100, all expiring at the same time. Assume that at the expirtation, the price of the asset is each of the following two values.
Explain what happens from the perspective of the long position for each derivative.
a $105
b$95
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A strategy in which firms collaborate to achieve a shared objective is known as: a. corporate strategy. b. a strategic alliance. c. cooperative strategy. d. international strategy.
A strategy where firms collaborate to achieve a shared objective is known as a cooperative strategy.
A cooperative strategy is when multiple firms come together and work jointly towards achieving a common goal or objective. This strategy helps companies leverage their resources, expertise, and capabilities, which often leads to greater efficiency and effectiveness in the market. Cooperative strategies can take various forms, such as joint ventures, strategic alliances, and partnerships.
These collaborations can be both formal and informal, depending on the specific agreement between the firms involved. By working together, companies can achieve synergies, reduce risk, and access new markets, technologies, and knowledge that would otherwise be difficult to attain individually.
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Most recessions originate from:Question 6 options:a) a decrease in investment spending.b) an increase in investment spending.c) a decrease in aggregate supply.d) an increase in aggregate supply.
The correct answer is option (a) a decrease in investment spending. Most recessions originate from a decrease in investment spending, as it leads to a decrease in economic activity, production, and employment.
Investment spending is a crucial component of aggregate demand, and a decrease in investment spending can lead to a downward spiral in the economy. However, an increase in investment spending can stimulate economic growth and lead to an expansion of the economy.
Most recessions originate from:
Option a) a decrease in investment spending.
During a recession, investment spending typically decreases as businesses and individuals become more cautious about making investments due to economic uncertainty. This decline in investment spending can lead to reduced production, job losses, and lower aggregate demand, which further exacerbates the economic downturn.
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Alyson's Pet Sitting Service Number of Workers Output (number of pet visits) AWNO 20 45 60 70 Refer to Table 13-1. What is the marginal product of the second worker? a. 25 b. 22.5 Oc. 15 d. 20
The correct answer is a. 25. The marginal product of the second worker is 25 pet visits.
The marginal product of labor refers to the additional output produced by adding one more worker to the production process. To calculate the marginal product of the second worker, we need to compare the output of the first worker (which is not given in the table) with the output of the second worker.
From the table, we can see that when there is one worker (AWNO = 20), the output is not given. When there are two workers (AWNO = 45), the output is 25. Therefore, the marginal product of the second worker is:
Marginal product of second worker = Output with 2 workers - Output with 1 worker
= 25 - 0
= 25
So, the answer is not one of the options provided. The marginal product of the second worker is 25 pet visits.
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How should Salem's January 1, Year 1, Retained Earnings and income for January 1 to September 30 be reported in Year 1 consolidated statements
Salem's January 1, Year 1, Retained Earnings should be included as a component of the consolidated Retained Earnings for the entire Year 1. The income for January 1 to September 30 should be included in the consolidated Income Statement for the Year 1.
Retained Earnings represent the amount of profit that a company has accumulated and kept over time. When companies merge, the Retained Earnings of the acquired company are included in the consolidated Retained Earnings of the new entity. Therefore, Salem's Retained Earnings from January 1, Year 1 should be reported as a component of the consolidated Retained Earnings for the entire Year 1. As for the income from January 1 to September 30, it should be included in the consolidated Income Statement for Year 1.
The Income Statement shows the revenue, expenses, and net income of the company over a given period of time. Since Salem was acquired during Year 1 and its income from January 1 to September 30 is relevant to the consolidated financials for that year, it should be included in the consolidated Income Statement. In summary, Salem's January 1, Year 1, Retained Earnings should be included in the consolidated Retained Earnings for Year 1, while its income from January 1 to September 30 should be included in the consolidated Income Statement for Year 1.
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If the economy was in recession and Congress and the Federal Reserve Bank BOTH wanted to correct it quickly, which policy combination would be best
If the economy was in a recession, Congress and the Federal Reserve Bank could implement a combination of fiscal and monetary policies to correct it quickly.
Fiscal policy involves government spending and taxation, while monetary policy involves controlling the money supply and interest rates. To correct a recession, Congress could increase government spending and decrease taxes, which would increase consumer spending and stimulate the economy.
Meanwhile, the Federal Reserve Bank could decrease interest rates and increase the money supply, which would encourage borrowing and investment. This combination of policies would provide a boost to the economy from both sides, increasing spending and investment and lowering borrowing costs.
This could help to stabilize the economy and promote economic growth, potentially leading to an end to the recession.
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Ratios used by auditors to judge the overall reasonableness of recorded amounts for plant and equipment include
Ratios used by auditors to judge the overall reasonableness of recorded amounts for plant and equipment include the fixed asset turnover ratio, depreciation expense to fixed assets ratio, and the maintenance expense to fixed assets ratio.
The fixed asset turnover ratio measures the efficiency of a company's use of its fixed assets to generate sales revenue. This ratio is calculated by dividing net sales by the average net fixed assets. The depreciation expense to fixed assets ratio measures the age and condition of a company's fixed assets by comparing the depreciation expense for the year to the total net fixed assets. The maintenance expense to fixed assets ratio measures the effectiveness of a company's maintenance program by comparing the total maintenance expenses for the year to the total net fixed assets. By analyzing these ratios, auditors can assess the adequacy of the company's maintenance program and identify any potential issues with the age and condition of their fixed assets. Additionally, auditors can use this information to evaluate the company's overall financial health and to provide recommendations for improvement. Overall, these ratios provide a valuable tool for auditors in assessing the reasonableness of recorded amounts for plant and equipment.
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A company estimates that warranty expense will be 5% of sales. The company's sales for the current period are $73,000. The current period's entry to record the warranty expense is
The current period's entry to record the warranty expense is debit Warranty Expense $3,650; credit Estimated Warranty Liability $3,650.
Debit the warranty expense account and credit the warranty liability account to accumulate the warranty expense. Debit the warranty liability account and credit the inventory account for the cost of the replacement items and parts shipped to consumers as actual warranty claims are received.
Warranties are first reported as a liability since they fall under the category of unearned revenue or delayed revenue. If the business wanted to charge $20 for a two-year warranty, the money would be taken at the point of sale. The cost of the warranty should be noted when the product is sold.
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An economy of scope is best illustrated by being able to eliminate or reduce costs by Multiple Choice extending the firm's scope of operations over a wider geographic area. having more value chain activities performed in-house rather than outsourcing them. expanding the size of a company's manufacturing plants. performing all of the value chain activities of related sister businesses at the same location. combining related value-chain activities of different businesses into a single operation.
An economy of scope is best illustrated by being able to eliminate or reduce costs through combining related value-chain activities of different businesses into a single operation. So, the correct option is "combining related value-chain activities of different businesses into a single operation."
This approach allows companies to leverage their resources and capabilities more effectively, improving efficiency and reducing overall costs.
In contrast, extending the firm's scope of operations over a wider geographic area, having more value chain activities performed in-house, expanding the size of a company's manufacturing plants, or performing all value chain activities of related sister businesses at the same location do not necessarily illustrate economies of scope.
Instead, these strategies may be more relevant to economies of scale or other cost-saving approaches. Economies of scope specifically focus on the synergistic benefits gained by combining complementary activities across different business lines.
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Suppose the marginal propensity to consume (MPC) is 0.75 , and the government votes to increase taxes by $1.5 billion . Calculate the tax multiplier. multiplier: Calculate the resulting change in the equilibrium quantity of real gross domestic product (GDP) demanded. $ billion
The change in the equilibrium quantity of real GDP demanded will be a decrease of $6 billion.
The tax multiplier can be calculated as:
tax multiplier = - MPC / (1 - MPC)
tax multiplier = - 0.75 / (1 - 0.75) = -3
The negative sign indicates that taxes and GDP move in opposite directions.
To calculate the resulting change in the equilibrium quantity of real GDP demanded, we can use the formula for the expenditure multiplier:
expenditure multiplier = 1 / (1 - MPC)
expenditure multiplier = 1 / (1 - 0.75) = 4
The expenditure multiplier indicates how much the equilibrium quantity of real GDP demanded will change in response to a change in autonomous spending. In this case, the autonomous spending is the $1.5 billion increase in taxes.
Change in equilibrium quantity of real GDP demanded = expenditure multiplier * change in autonomous spending
Change in equilibrium quantity of real GDP demanded = 4 * (-$1.5 billion)
Change in equilibrium quantity of real GDP demanded = -$6 billion
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