Imposes a price ceiling on the regulated firm, A price ceiling is a government-imposed limit on the maximum price that can be charged for a good or service. It is a type of price control.
When a market's price cap is implemented?Demand outpaces supply when a market's price ceiling is in place. The ceiling price is below equilibrium, which causes this. As a result, more consumers will be able to afford the good while producers charge less. Once a result, as the price ceiling is implemented, supply decreases and demand increases.
What occurs if price controls are implemented by the government?In the field of economics, price controls are limitations imposed by authorities to maintain the affordability of goods and services. They are also employed to establish an open and equitable market. Price limits are intended to reduce inflation and promote market equilibrium.
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Referring to Table 13-4, what fraction of the variability in house size is explained by income, size of family, and education? a)27.0% b)33.4% c)74.8% d)86.5%
Option B. 33.4%, A real estate developer wants to know how factors like family size (Family Size), family income (Family Income), and education of the head of household (School) affect the size of a house (House).
House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is measured in years. Measurements of variability give you descriptive statistics that summarise your data in addition to measures of central tendency. Spread, scatter, and dispersion are other terms for variation. It is often assessed using the following: Difference between the highest and lowest values is referred to as the range.
Each sampling distribution's variability diminishes as sample size rises, making the distributions more and more leptokurtic. The sample distribution's range is less than the original population's range.
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Please formulate an integer programming model that can be used to solve the following problem. Clearly state your decision variables, objective, and constraints. Kindly note that you do NOT need to implement this problem in Excel. Please follow the instructions given in the problem/satisfy all requirements.You need to schedule six round-trips between Pittsburgh and Boston for candidates that will interview for internship positions in your company. The route is served by three airlines: Eastern, US Air, and Continental and there is no penalty for the purchase of one-way tickets. Each airline offers bonus miles for frequent fliers. Eastern gives 1000 miles per (one-way) ticket, plus 5000 extra miles if the number of tickets in a month reaches 2, and another 5000 miles if the number reaches 6. US Air gives 1500 miles per ticket, plus 10,000 extra for every 6 tickets. Continental gives 1800 miles, plus 7000 extra for every 5 tickets. What is the best way to allocate the 12 one-way tickets among the three airlines to maximize the total number of bonus miles earned? Formulate an integer programming model for this problem (clearly state your decision vari- ables, objective, and constraints). You do not need to implement your model in Excel.
The best way to allocate the 12 one-way tickets among the three airlines to maximize the total number of bonus miles earned is Z = Z1 + Z2 + Z3.
Give a brief account on integer programming model.A mathematical optimization or feasibility program with some or all of the variables required to be integers is known as an integer programming problem. The phrase is frequently used in conjunction with integer linear programming (ILP), in which the goal function and all other constraints (aside from the integer constraints) are linear. It is NP-complete to program in integers. Karp's list of 21 NP-complete problems specifically includes the special situation of 0-1 integer linear programming, where the unknowns are binary and only the limitations need to be met.
A mixed-integer programming problem is what the issue is called if some of the decision variables are not discrete.
To solve the question :
Let the no. of tickets booked with Eastern Airlines be X1
Let the no. of tickets booked with U.S. Airlines be X2
Let the no. of tickets booked with Continental Airlines be 12- X1- X2
We have to maximize the air miles,
So the number of air miles earned from eastern airlines = Z1= 1000*X1 + 5000 *if (( X1 – 2) >= 0 , 1,0) + 5000 * if (( X1 – 6) >= 0 , 1,0)
So the number of air miles earned from Us airlines =Z2= 1500*X2 + 10000 *if (( X2 – 6) >= 0 , 1,0)
So the number of air miles earned from continental airlines = Z3= 1800*(12-X1-X2) + 7000 *if ((12- X1 –X2 – 5) >= 0 , 1,0)
So, we need to maximize = Z = Z1+Z2+Z3
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true or false: when a monopsonist pays a higher wage to attract an additional worker it must then pay that new higher wage to all the workers it is currently employing as well.
Answer:
False. When a monopsonist pays a higher wage to attract an additional worker, it does not necessarily have to pay the new higher wage to all the workers it is currently employing. The monopsonist may choose to only pay the higher wage to the new worker and not to the workers it is currently employing.
The IT department's on-site developer has been with the team for many years. Each time an application is released, the security team is able to identify multiple vulnerabilities. Which of the following would BEST help the team ensure the application is ready to be released to production?
A. Limit the use of third-party libraries.
B. Prevent data exposure queries.
C. Obfuscate the source code.
D. Submit the application to QA before releasing it.
Option D is the correct answer here that is Submit the application to QA before releasing it.
What is a QA release?Release Criteria are set by way of the Quality Assurance (QA) manager earlier than the trying out for software commences to make certain that the software program when launched has first-rate overall performance and quality.
What is launch administration in QA?Release administration refers to the technique of planning, designing, scheduling, testing, deploying, and controlling software program releases. It ensures that launch teams efficiently supply the functions and enhancements required by using the enterprise whilst retaining the integrity of the current manufacturing environment.
What is the first step of QA?Identification of customer want is the first step of QA after which similarly primary factors of QA are identified. QA depends not solely on QC however additionally on the activities of the complete company.
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https://brainly.com/question/13876752#SPJ4Step One: You have graduated from college and have established a career. You have been working with the same company for three years. You have saved up $10,000 and need to decide how you will save and invest this money. Your goal is to save as much money in five years as you can for a down payment on a house. Using the principles and strategies of saving and investing, create a saving and investing plan. Remember, a saving and investing plan is an outline or list that names the types of savings or investments you will use. The outline also shows the amount or percentage you will put into each savings account or investment. For this project, evaluate and select at least three investments or savings accounts. Upload the document. Step Two: Select specific accounts and investments. For example, if your outline includes investing $1,000 in stock, research and select a stock. Create a portfolio with a spreadsheet or word processor. See the example below:
Answer12
Explanation: so it is 6+6+22=2
A large share of the world supply of diamonds comes from Russia and South Africa. Suppose that the marginal cost of mining diamonds is constant at $1,000 per diamond and the demand for diamonds is described by the following schedule:
a. If there were many suppliers of diamonds, what would be the price and quantity? b. If there were only one supplier of diamonds, what would be the price and quantity? c. If Russia and South Africa formed a cartel, what would be the price and quantity? If the countries split the market evenly, what would be South Africaâs production and profit? What would happen to South Africaâs profit if it increased its production by $1,000 while Russia stuck to the cartel agreement? d. Use your answers to part (c) to explain why cartel agreements are often not successful. Step-by-step solution
a) The price and quantity of diamonds are decided at a point where the price is equal to marginal cost when there are numerous suppliers of diamonds available. Price is equivalent to marginal cost in the table above at $1,000. Consequently, the cost is $1,000 and there are 12,000 of them.
What is the calculation?
Price ($) Output TR (P*Q) MC ($) TC (MC*Q) Profit (TR-TC)
8,000 5,000 400,00,000 1,000 50,00,000 350,00,000
7,000 6,000 420,00,000 1,000 60,00,000 360,00,000
6,000 7,000 420,00,000 1,000 70,00,000 350,00,000
5,000 8,000 400,00,000 1,000 80,00,000 320,00,000
4,000 9,000 360,00,000 1,000 90,00,000 270,00,000
3,000 10,000 300,00,000 1,000 100,00,000 200,00,000
2,000 11,000 220,00,000 1,000 110,00,000 110,00,000
1,000 12,000 120,00,000 1,000 120,00,000 0
In the event that there is only one supplier of diamonds, the price and number of diamonds are chosen so as to maximize profit. When the price is $7,000 and the quantity is 6,000, the profit is maximized.
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In your question, the table is schedule is missing, probably the correct schedule is-
A large share of the world supply of diamonds comes from Russia and South Africa. Suppose that the marginal cost of mining diamonds is constant at $1,000 per diamond and the demand for diamonds is described by the following schedule.
Price Output
$8,000 5,000
$7,000 6,000
$6,000 7,000
$5,000 8,000
$4,000 9,000
$3,000 10,000
$2,000 11,000
$1,000 12,000
Three groups that participate in the process of establishing GAAP are users, preparers, and auditors. These groups are represented by various organizations. For each organization listed below, indicate which of these groups it primarily represents.
Numerous studies of financial reporting and auditing have been conducted over the past two decades as a result of these problems and significant independent auditor litigation.
First, the Securities and Exchange CommissionUSERS
The U.S. Securities and Exchange Commission (SEC) is a separate federal government agency tasked for protecting financial professionals, guaranteeing the fair and effective operation of securities markets, and promoting capital development.
Financial Executives Worldwide —————— PREPARERSFinancial Executives International (FEI) is an association for senior-level financial managers in businesses of varying sizes, both public and private, and in all endeavors. It is based in Morristown, New Jersey.
The third option is the American Institute of Certified Public Accountants.AUDITORS
The non-profit professional association of certified public accountants in the United States is called the American Institute of Certified Public Accountants (AICPA). The Under the name American Association of Public Accountants, the American Institute of Certified Public Accountants was founded in 1887 with the intention of ensuring that bookkeeping gained recognition as a profession and that it was refined by moral, competent professionals.
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Which of the following is analogous to an outward shift in the production possibilities curve (PPC)?
a. An increase in short-run aggregate supply
b. An increase in the aggregate demand
c. An increase in long-run aggregate supply
d. An increase in the supply of loanable funds
e. An increase in the cost of production
An increase in long-run aggregate supply is analogous to an outward shift in production possibilities curve (PPC).
What is aggregate supply?In economics, aggregate supply (AS) or domestic final supply refers to the entire amount of goods and services that enterprises operating in a nation anticipate to sell over a specific time period (DFS). It describes the total amount of goods and services that companies in an economy are ready and able to sell at a specific price. Infrastructure investment, research and development, support for small and medium-sized businesses, tax reductions for businesses, labor market reforms to lessen labor market friction that could be a cause of output stagnation, and education and training are some examples of supply-side policies. For the nation's energy, environment, transportation, and digital communications infrastructure, supply-side changes were included in the 2015 Budget.
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fter exploring the Opposing Viewpoints Database and reviewing your brainstorming activity, identify two issues that are related to your career or degree:
A. Write a fully developed paragraph for issue one (5â8 sentences each).
i.Explain at least two clear arguable sides to the issue.
ii. Explain how the issue relates to your field or degree or potential field or degree.
B. Write a fully developed paragraph for issue two (5â8 sentences each).
i.Explain at least two clear arguable sides to the issue.
ii.Explain how the issue relates to your field or degree or potential field or degree.
The goal of a persuasive argument is to persuade readers to share your viewpoint. You should include a succession of statements and supporting evidence in addition to your claim rather than just making .
What is there to say about persuasive writing?Argument essays, another name for persuasive writing, provide a case for why one idea is superior to another using logic and reason. It tries to persuade the reader to adopt a certain viewpoint or action.
What did you learn about persuasive writing?Persuasive writing encourages deliberate word choice, the development of logical arguments, and a compelling conclusion in nonfiction writing. To help children develop their persuasive writing skills, simple processes can be guided.
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a private college received an offer from a cpa who is an alumnus to teach a one-semester advanced accounting course at no cost. asc 958 prescribes that this contribution of service: A. need only be disclosed in the footnotes to the financial statements.
B. be recorded as an asset with an equivalent amount recorded in the unrestricted fund balance.
C. be recorded as a revenue with an equivalent amount recorded as an expenditure.
D. need not be recorded if the service is for a period less than one academic year.
ASC 958 prescribes that this contribution of service C. be recorded as a revenue with an equivalent amount recorded as an expenditure.
Financial statement illustrative notes for endowment reporting, specifically for investment returns, are provided by ASC 958-205-55-21.
Not all assets of not-for-profits that meet the criteria of cash equivalents are considered cash equivalents for the purposes of producing the statements of financial position and cash flows, according to ASC 958-230-55-2. Even if they meet all other criteria, restrictions may prevent them from being counted as cash equivalents.
For instance, if short-term highly liquid investments are made using funds that are subject to donor-imposed limitations that only allow for long-term investment, they are not cash equivalents.
Functional expense reporting is explained in illustrative notes to financial statements under ASC 958-205-55-21.
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a producer sells an annuity. a replacement takes place in connection with that purchase in all the following circumstances, except:
A replacement takes place in connection with that purchase in all the following circumstances, except obtain the beneficiary's signature on a summary of all policies to be replaced.
A person's handwritten representation of their name, nickname, or another mark that they use to sign documents as evidence of their identity and intent is known as a signature. A signatory or signer is the person who writes a signature.
A signature work identifies the work as easily identifying its creator, much like a handwritten signature. An autograph, which is mostly an artistic signature, can be mistaken for a signature. Because having both an autograph and a signature can be confusing, some famous persons choose to keep their signatures a secret while making their autographs well known.
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In Lawrence County, the real property tax year is the calendar year. The real property tax becomes a personal liability of the owner of real property on January 1 in the current real property tax year (assume that this year is not a leap year). The tax is payable on June 1. On May 1, Reggie sells his house to Dana for $350,000. On June 1, Dana pays the entire real estate tax of $7,950 for the year ending December 31. Assuming that Reggie itemizes his deductions and the $10,000 limit on state and local taxes does not apply, how much of the property taxes may Reggie deduct?a.$2,625b.$0c.$7,950d.$2,614e.None of these choices are correct.
Reggie can deduct $2,614 in property taxes if he itemises his deductions and the $10,000 cap on state and local taxes does not apply.
Property tax is an annual sum that landowners must pay to their community's municipal corporation or local government. His home, office building, and any tangible real estate that he has rented to others are all included in the property.
The property taxes attributable to the period during which the seller owned the taxable property can be written off if they were paid in full before the sale.
Dana purchases Reggie's home on May 1.
Reggie lived in the home from January 1 through April 30 of the current year, or for 120 days.
Property taxes Reggie can write off are [($7,950 / 365) * 120], which comes to $2,614
Reggie can thus write off $2,614 in property taxes.
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The following assets in Jack’s business were sold in 2017: Asset Holding Period Gain/(Loss) Office Equipment 6 years $1,100 Automobile 8 months ($ 800) ABC Stock (capital asset) 2 years $1,400 The office equipment had a zero adjusted basis and was purchased for $8,000. The automobile was purchased for $2,000 and sold for $1,200. The ABC stock was purchased for $1,800 and sold for $3,200. In 2017 (the year of sale), Jack should report what amount of net capital gain and net ordinary income? a. $1,700 LTCG. b. $600 LTCG and $300 ordinary gain. c. $1,400 LTCG and $300 ordinary gain. d. $2,500 LTCG and $800 ordinary loss. e. None of the above.
Jack needs to provide his net ordinary income and net capital gain amounts is $1,400 LTCG and $300 ordinary gain.
How do capital gains and ordinary income differ?Simply stated: Wages, tips, and interest income are typical examples of ordinary income. When you sell a capital asset, such as a stock, house, condo, or apartment, for more than its original cost or taxable basis, you make a profit.Capital gain over the long term (LTCG) = $1,400. Normal gain equals the sum of the gains and losses on office equipment and autos. Average gain = 1,100 Plus (800).At the federal, state, and local tax rates, ordinary income is taxed. By investing in an asset and then selling it for more than you paid for it, you can generate capital gains. For instance, you might buy a building and sell it for more money later.To learn more about Net ordinary income refer to:
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an important first step in adapting a product to a foreign market is to determine the question 29 options: 1) degree of newness of the product as perceived by the intended market. 2) personal ethics of individuals in the target market. 3) regional political parties present in the domestic market. 4) language problem of the intended market. 5) product's compliancy to irrational beliefs of its potential foreign consumers.
An important first step in adapting a product to a foreign market is to determine the degree of newness as perceived by the intended market. option [1] is the correct answer to the above statement.
What strategy is most frequently used to join a foreign market?
Exporting is the most prevalent and safest method of introducing products to a global market. You create your goods in your home nation, ship them abroad, and then distribute or sell them through distributors or agents in the target market.
Finding out how new a product is in the eyes of the target consumer is a crucial first step in modifying it for a foreign market. Every successful business is built on knowing and comprehending its customers' needs.
Therefore, One benefit of exporting is that you avoid having to make production investments abroad.
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In Exercises 33 and 34 explain why you cannot use the methods of this section to find the desired probability.
Hispanic workers A factory employs 3000 unionized workers, of whom 30 %are Hispanic. The 15 -member union executive committee contains 3 Hispanics. What would be the probability of 3 or fewer Hispanics if the executive committee were chosen at random from all the workers?
CHALLENGE: See if you can compute the probability using another method.
A factory employs 3000 unionized workers, of whom 30 %are Hispanic. The 15 -member union executive committee contains 3 Hispanics. The probability of 3 or fewer Hispanics if the executive committee were chosen at random from all the workers would be 3/15 or 0 .2.
What is Probability?The probability means possibility. It is a branch of mathematics that deals with the occurrence of a random event. The value of probability has range from zero to one.
The probability has been introduced in Maths to predict how likely events are to happen. The meaning of probability is basically the extent to which something is likely to happen.
A probability basically tells the possibility of outcomes for a random experiment. Like in the above given experiment the probability is 3/15 or 0 .2.
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Knowledge Check 01 A company uses a periodic inventory system and during the December 31, year-end physical inventory count discovered that they have incurred a $300 shrinkage in inventory Prepare the necessary adjusting entry to record this shrinkage by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A company uses a periodic inventory system and during the December 31, year-end physical inventory count discovered that they have incurred a $300 shrinkage in Inventory. Note: Enter debits before credits Date General Journal Debit Credit V al
If a company uses a periodic inventory system and during the December 31, year-end physical inventory count discovered that they have incurred a $300 shrinkage in inventory. No Journal entry is required.
What is journal entry?Journal entry is used by companies to record their day to day business transactions.
On the other hand the periodic inventory system is an inventory method used by companies so as to know the inventory they have and this is often done by physically counting the inventory.
Since the physical inventory count discovered that they have incurred a $300 shrinkage in inventory there will be no journal entry to record this transaction based on the fact that inventory shrinkage means that there is additional inventory in the company record but in which this inventory in the company record does not exits.
Therefore no journal entry.
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An individual sells the securities of a federal chartered bank. This individual will be EXCLUDED from the definition of an agent if the individual:
An individual is excluded from the definition of institution providing that person effects transactions with existing workers or officers of the institution no commissions are paid; or that individual represents an institution in either mercantilism exempt securities or exempt transactions; or that individual.
An individual UN agency represents a broker/dealer within the sale of U.S. government bonds. II & III solely. A Uniform Securities Act represents institution within the sale of associate degree exempt security is excluded from the definition of associate degree agent beneath the Act.
The Uniform Securities Act (USA) expressly names 3 persons that ar systematically excluded from the definition of a broker-dealer: Agents. Issuers. Banks, savings establishments, and trust firms.
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this type of termination becomes an issue when a former employee registers a legal complaint alleging that the organization made life so difficult and unbearable that the individual had to resign.
Termination may take place either with or without cause. In general, an employee who is terminated for cause is doing something wrong.
Briefing:-They might have committed a crime, broken a crucial company rule, erred significantly, or shown poor judgment, endangering the organization.
What is the process by which an employer tries to get you to leave?A "constructive discharge" is what is used to describe quitting your job as a result of unlawful working circumstances. Even though you formally resigned your job, you might have a case for wrongful termination if your employer tries to fire you for unethical reasons.
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Which of the following refers to the additional payment that allows the expatriate to maintain a standard of living similar to that at home?
A) allowance
B) benefits
C) base remuneration
D) wages
A) allowance refers to the additional payment that allows the expatriate to maintain a standard of living similar to that at home
A person who temporarily lives and/or works outside of their place of citizenship for professional reasons is referred to as an expatriate. Another way to describe it is as a person who moved from their nation of origin to another permanently or for a prolonged period of time. An allowance is a predetermined amount of money given by employers to employees to cover expenses above and beyond basic wage. It can also be described as an amount that is allowed or permitted in accordance with some rules or for a particular purpose.
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TRUE/FALSE. outsourcing is a short-term business arrangement in which a company contracts for services with an overseas organization that has expertise in providing a specific function.
This claim is untrue. A company does not contract for services from an enterprise in another country that is skilled in performing a certain function as part of an outsourcing arrangement.
How do contracts for outsourcing operate?Outsourcing is the term used to describe a contract between a corporation and a service provider. In accordance with this arrangement, the business enters into a contract with the service provider to perform duties that are currently completed in-house or by a reputable third-party supplier.
The best uses of outsourcing are in website building, cleaning up after offices and warehouses, and advertising. Most business owners delegate responsibility for hiring, upkeep, and bookkeeping to outside experts. This allows businesses to focus the majority of their resources on the main activity.
What is the outsourcing procedure?On occasion, a business will hire other, non-corporate organizations to complete certain duties. In order to accomplish the work for less money, external firms often establish different remuneration arrangements with their personnel than an outsourcing company.
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Products, Inc., warrants its goods to be free of defects. Heck issues an instrument to obtain goods from GR8 that prove defective. With respect to payment on the instrument, Heck
a.is liable only to a subsequent holder of the instrument.
b.has a universal defense against it.
c.cannot avoid it.
d.has a personal defense against it.
Products, Inc., warrants its goods to be free of defects. Heck issues an instrument to obtain goods from GR8 that prove defective. With respect to payment on the instrument, Heck has a universal defense against it.
Why do warrants exist?Generally speaking, a warrant is a type of asset in the financial world that gives the owner the ability to buy or sell stock at a fixed price known as the exercise price.
This equity is often the stock of the company that granted the warrant. Options and warrants are both legally binding financial instruments that grant the holder particular rights to purchase equities. They are comparable to one another because of this.
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your firm in the united states expects to need 1 million pounds in one year to pay for imports. you can use any one of the following strategies to deal with the exchange rate risk:
Currency risk is the risk that fluctuations in exchange rates between currencies may adversely affect a company's operations and profitability.
Foreign exchange risk is the risk that a company's business and profitability may be adversely affected by exchange rate fluctuations between currencies.
Businesses are exposed to three types of risk caused by currency fluctuations.
transaction risk, translation risk, economic or operational risk;
Operational or economic risk can be mitigated through operational and currency risk mitigation strategies.
In today's globalized market, exchange rate risk affects not only multinational corporations and companies trading in international markets, but also small businesses.
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jeff is the chief manager of the sales team for contoso. he uses office laptop, and stores all of his important files locally on his laptop. these files have taken a lot of storage space, and hence, his system has become slow. also, the system has become prone to crashes, which produces a risk of data loss. which of the following options should jeff use to resolve this issue?
The option that should be used by Jeff to resolve this issue is Micro-soft One-Drive.
Data is permanently stored in storage (a hard disk or solid state drive) for future access. It is the element that your operating system, programs, and files access and save. Since the storage disk is non-volatile, the data is kept even if the computer is turned off.Your operating system, apps, and files are kept in storage for all time. The speed of the storage influences how quickly your system can boot up, load, and retrieve the information you've saved because computers need to write information to and read it from the storage system.To know more about Storage here
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which of the following is not one of the 3 goals of macroeconomic policy that policy makers agree upon?
A branch of economics called macroeconomics is a field of study. Macroeconomics examines the overall idea of an economy. In other words, macroeconomics provides information about the entire economy. The aggregate or total economy's structure, conduct, decision-making, and performance are all taken into account in macroeconomics.
Answer: 1 with an explanation
B. Money Supply Growth is the right response.
There are several objectives for macroeconomics. Macroeconomics does not want to increase the MS.
Growth of the Money Supply: The basic objective of monetary policy is to increase the money supply. Macroeconomics doesn't have the objective of increasing the money supply (MS). Lowering the interest rate causes an increase in the money supply, or MS. Then, when investments rise, the supply of funds rises along with them.
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A company's past profits that are not paid out in dividends are ______.
a. cash
b. dividends
c. reported as income for the current year
d. retained earnings
Retained earnings are the historical profits of a corporation that are not distributed as dividends. The correct answer is option (d).
What is Retained earnings?Retained earnings are a organizations's total net earnings or profits after dividend payments are subtracted. The concept of "retained" in accounting relates to how profits were kept by the company rather than paid out as dividends to investors.
Excluding any dividends that the firm has already paid out, retained earnings represent a corporation's former profits. You may better understand what retained earnings can tell you by considering the options below, which generally cover all possible uses that a company can make of its surplus cash.
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Explain what the category of price elasticity for the following products should be. -petrol -clothes -cars -travel -fillet steak
Answer:
Explanation:
Price elasticity refers to the degree to which the demand for a good or service changes in response to a change in its price. The elasticity of demand can be classified into several categories, including elastic, inelastic, and unit elastic.
Petrol: Petrol is considered to be an inelastic product. This means that the demand for petrol is relatively unchanged even when the price changes. This is because petrol is a necessity for many people, as it is required for transportation.
Clothes: The elasticity of demand for clothes can vary depending on the type of clothing and the specific market. For example, basic clothing items such as T-shirts and jeans may be more inelastic, as they are considered necessities for many people. On the other hand, luxury clothing items such as designer dresses may be more elastic, as the demand for these items may be more sensitive to price changes.
Cars: The elasticity of demand for cars also varies depending on the specific market. In general, the demand for cars may be more elastic for luxury vehicles, as these tend to be more expensive and people may be more willing to substitute them with cheaper alternatives when the price increases. On the other hand, the demand for basic transportation vehicles may be more inelastic, as they are considered necessities for many people.
Travel: The elasticity of demand for travel may also vary depending on the specific market. For example, the demand for international travel may be more elastic, as people may be more willing to substitute it with domestic travel when the price increases. On the other hand, the demand for domestic travel may be more inelastic, as people may still need to travel for work or other necessities.
Fillet steak: The elasticity of demand for fillet steak may depend on the specific market and the availability of substitutes. In general, the demand for fillet steak may be more elastic for higher-end cuts, as people may be more willing to substitute it with cheaper alternatives when the price increases. On the other hand, the demand for lower-end cuts of meat may be more inelastic, as they are considered necessities for many people.
The category of price elasticity for the following products is
petrol - inelastic goods clothes - elastic goodscars - elastic goodstravel -elastic demandfillet steak - elastic goodWhat is price elasticity?The term "price elasticity of demand" refers to the impact of a modification in the level of market price on the rise or fall in demand for a particular item.
A product's demand is said to be elastic if it is good to meet price changes; otherwise, it is said to be inelastic if the response to a shift in prices is not proportional.
Luxury automobiles are generally more expensive, and consumers may be more likely to replace them with less expensive alternatives, making the demand for cars for these types of cars more elastic.
Due to people's inclination to choose domestic travel over international travel when costs rise, the demand for international travel may be more elastic.
As consumers may be more inclined to switch to less expensive substitutes when the price goes up, the desire for fillet steak may be more flexible for higher-end cuts.
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Profit-maximizing firms must determine how hiring an additional unit of labor will affect profit. To do this, the firm can compare the change in revenue from hiring an additional unit of labor against the cost of that extra worker. The additional output produced by an extra unit of labor is equal to the marginal product of labor (MPL). Because each bot sells for the market price (P), the change in revenue from hiring an additional worker is________and the change in cost is_______.
It will continue to hire more people until the additional money generated by the more labor does not outweigh the additional cost of the labor
What is income?Cash is what a business makes from its operations; this is known as revenue. There are several methods for calculating revenue, depending on the accounting method utilized. Sales made on credit will be recorded as revenue for goods or services delivered to the client in accrual accounting.Revenue may be recognized in accordance with certain standards even though payment has not yet been made.The cash flow statement must be examined in order to determine how effectively a business collects debts. Contrarily, cash accounting only counts sales as revenue when money has been exchanged.For more information on marginal product of labor kindly visit to
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steven manley deposits $1,000,000 (chump change for him) of cash into his checking account at his local bank. check each of the following that apply.
Steven Manley deposits $1,000,000 into his checking account at his neighborhood bank (chump change for him). every one of the following. M1 stays the same. M2 remains unchanged.
What does the money multiplier cost at a 5 percent mandated reserve ratio?One would anticipate a money multiplier of 1/0.05, or 20, with a reserve ratio of 5%. Since you can lend out $20 million if you have $1 million in deposits and a 5% reserve ratio, a money multiplier of 20 is to be expected.
Which of the following factors in the unemployment rate is not considered?The percentage of workers in the labor force who do not currently have a job but are actively seeking one is measured by the unemployment rate. This statistic excludes people who have not sought for job in the last four weeks.
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According to the bid-rent model, which of the following individuals would be the one most likely to live closest to the central business district (CBD)? (Hint: Assume that work locations are located adjacent to each other at the center of the CBD)
Which of the following people would be most likely to live closest to the central business district (CBD) if they were a doctor at the city hospital who had to walk to work according to the bid-rent model.
Which of these urban planning issues affecting where people live and work is overlooked by a bid rent model?City-level factor is disregarded in a bid-rent approach when determining where homes and businesses are located In contrast to the bid-rent model of urban land value, the concentric circle model of urban form depicted a city where wealthier residents tended to live further away from the CBD.
What benefits do economies of scale offer?Because of economies of scale, large companies may frequently create goods at a cheaper unit cost. cost advantage over their smaller competitors, which gives them a competitive edge. It's crucial to distinguish between total cost and average cost. Because more resources must be used as a company expands, its overall costs increase.
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Jin, age 29, is beginning to contemplate his financial future. Right now, he lives in a metro city where he has to walk to work. Although he loves the excitement of the city, he wants to buy a van as he has always dreamed of becoming a digital nomad. His goal is to begin saving for this objective right away. Jin has identified three possible portfolios that might be appropriate choices as he begins investing to reach his objective. Each portfolio consists of the following stocks, bonds, and cash assets. I Portfolio A 10% cash Portfolio B 15% cash Portfolio C 20% cash 20% bonds 40% bonds 50% bonds 70% stocks 45% stocks 30% stocks Assume that the average return of each asset is as follows: Stocks 10%, bonds 5%, and cash 2%. Portfolio A Portfolio B Asset Rate of Class Portfolio C Asset Weighted Allocation Return¹ Asset Weighted Asset Weighted Allocation Return¹ Allocation Return¹ Return Cash 2% 10% (a) 15% (d) 20% Bonds 5% 20% (b) 40% (e) 50% (h) Stocks 10% 70% (c) 45% (f) 30% (i) Portfolio Return² (1) (11) (111) *Note¹: Weighted Return (Asset Class Rate of Return) x (Asset = Allocation) Note2: Portfolio Return = Sum of Portfolio's Weighted Return 5. After attending five weeks of financial education workshops, Jin became very confident in investing. His risk tolerance is now slightly above the average. Jin decides not to buy a van and establishes a new financial goal - buying a farmhouse in 10 years. Based on his new risk tolerance level and time horizon for his new goal, which portfolio would be most appropriate? Portfolio A Portfolio B Portfolio C It is hard to know based on the given information
The Portfolio returns of A, B and C are 8.2% , 6.8% and 5.9% respectively.
What are the Portfolio returns?1. Portfolio A:
Weighted return for cash (a) =2% * 10%
= 0.2%
Weighted return for bonds (b) = 5% * 20%
= 1%
Weighted return for stocks (c) = 10% * 70%
= 7%
The total weighted average rate of return for Portfolio A is Portfolio Return(I)
Portfolio Return(I) = 0.2% + 1% + 7%
= 8.2%
Portfolio B:
Weighted return for cash (d) = 2% * 15%
= 0.3%
Weighted return for bonds (e) = 5% * 40%
= 2%
Weighted return for stocks (f) = 10% * 45%
= 4.5%
The total weighted average rate of return for Portfolio B is Portfolio Return(II)
Portfolio Return(II) = 0.3% + 2% + 4.5%
= 6.8%
Portfolio C:
Weighted return for cash (g) = 2% * 20%
= 0.4%
Weighted return for bonds (h) =5% * 50%
= 2.5%
Weighted return for stocks (i) = 10% * 30%
= 3%
The total weighted average rate of return for Portfolio C is the Portfolio Return(III)
Portfolio Return(III) = 0.4% + 2.5% + 3%
= 5.9%
2. Portfolio A would be most appropriate based on Jin's new risk tolerance level and time horizon for his new goal.( Refer images for complete question)
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