Both price floors and price ceilings, when effective, lead to B) surpluses.
Both price floors and price ceilings are government-imposed limits on the price that can be charged for a good or service. A price floor is a minimum price set by the government above the equilibrium price, whereas a price ceiling is a maximum price set by the government below the equilibrium price. In the short run, both price floors and price ceilings can have an impact on the market.
When a price floor is effective, it leads to a B) surplus. This is because the price floor is set above the equilibrium price, meaning that there is a quantity supplied that exceeds the quantity demanded. This results in a surplus of goods that cannot be sold at the higher price. For example, if the government sets a minimum wage above the equilibrium wage, it will result in an excess supply of workers, leading to an increase in unemployment.
When a price ceiling is effective, it leads to a shortage. This is because the price ceiling is set below the equilibrium price, meaning that there is a quantity demanded that exceeds the quantity supplied. This results in a shortage of goods that cannot be produced or supplied at the lower price. For example, if the government sets a maximum price on rent below the equilibrium rent, it will result in a shortage of rental housing, leading to an increase in homelessness.
Neither price floors nor price ceilings lead to an increase in the quantity traded or a reduction in the quantity traded. Instead, they affect the allocation of goods or services by changing the price. A price floor or price ceiling may be effective in the short run, but in the long run, market forces will eventually push the price toward the equilibrium price, which is the price at which the quantity demanded equals the quantity supplied. Therefore, the best policy is to let the market determine prices and quantities, as it will naturally reach an equilibrium that is efficient and fair.
In conclusion, both price floors and price ceilings have an impact on the market, but they lead to different outcomes. A price floor leads to a surplus, while a price ceiling leads to a shortage. Neither price floors nor price ceilings lead to an increase or a reduction in the quantity traded. Instead, they affect the allocation of goods or services by changing the price. Ultimately, the best policy is to let the market determine prices and quantities, as it will naturally reach an equilibrium that is efficient and fair.
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you have $5,200 to deposit. regency bank offers 9 percent per year compounded monthly (.75 percent per month), while king bank offers 9 percent but will only compound annually. how much will your investment be worth in 17 years at each bank?
After 17 years, your investment at Regency Bank will be worth $23,877.81, whereas at King Bank, it will be worth $22,503.69.
Using the formula for compound interest:
For Regency Bank:
Number of periods = 17 years x 12 months/year = 204 months
Interest rate per period = 0.75%
Present value = $5,200
Future value = Present value x (1 + interest rate per period)^number of periods
Future value = $5,200 x (1 + 0.0075)²⁰⁴
Future value = $23,877.81
So the investment will be worth $23,877.81 after 17 years at Regency Bank.
For King Bank:
Number of periods = 17 years x 1 year/year = 17 years
Interest rate per period = 9%
Present value = $5,200
Future value = Present value x (1 + interest rate per period)^number of periods
Future value = $5,200 x (1 + 0.09)¹⁷
Future value = $22,503.69
So the investment will be worth $22,503.69 after 17 years at King Bank.
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the balance of the retained earnings account in the post-closing trial balance will be different from that of the adjusted trial balance. group startstrue or falsetrue, unselectedfalse, unselected
True. The balance of the retained earnings account in the post-closing trial balance will be different from that of the adjusted trial balance because the closing entries move the net income or loss from the income statement to the retained earnings account.
What is the post-closing trial balance?The post-closing trial balance is a list of accounts and their balances following the closing entries at the conclusion of the accounting period. The purpose of this trial balance is to guarantee that the total debits equal the total credits after the closing entries have been made, indicating that the company's accounting records are in balance.
An adjusted trial balance is a listing of all ledger accounts with their ending balances after adjusting journal entries have been made. The purpose of an adjusted trial balance is to guarantee that the total debits equal the total credits after the adjusting entries have been made, indicating that the company's accounting records are in balance.
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you are scheduled to receive $13,500 in three years. when you receive it, you will invest it for seven more years at 9.25 percent per year. how much will you have in ten years?
So, after investing the $13,500 for seven years at interest rate of 9.25% per year, you will have a total of $38,577.48 in ten years.
To determine how much you will have in ten years when you receive $13,500 in three years, we need to calculate the future value of the $13,500 when invested for seven years at 9.25% per year, and then add that future value to the $13,500.
We can use the future value formula for a single lump-sum investment:
FV = PV x (1 + r)ⁿ
Where FV is the future value, PV is the present value, r is the interest rate per period, and n is the number of periods.
Using this formula, the future value of $13,500 after seven years at 9.25% per year is:
FV = $13,500 x (1 + 0.0925)⁷
= $25,077.48
Therefore, in ten years, you will have:
Total amount = $13,500 + $25,077.47
= $38,577.48
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who is the company's auditor? (see the report of independent registered public accounting firm.) what does the report indicate about the amounts reported in the company's financial statements?
The report of the independent registered public accounting firm indicates the auditor of the company. The report also indicates that the auditor has conducted an audit of the company’s financial statements for the period specified in the report.
The report provides an opinion on whether the company’s financial statements are presented fairly in all material respects in accordance with generally accepted accounting principles. It also indicates that the auditor has determined that the amounts reported in the company's financial statements are reasonable and appropriate.
This means that the auditor has assessed the accuracy and integrity of the amounts reported in the company's financial statements and believes them to be a fair representation of the company's financial position.
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Select the correct answer. the government of a country increased the minimum wage from $21 to $30. a factory owner had to lay off some of his workers because he could not afford to pay all of them. how many people lost their jobs? a. 8 b. 10 c. 16 d. 24
We can say that an increase in the minimum wage can have both positive and negative effects on the economy. It is not possible to determine the exact number of workers who lost their jobs due to the increase in the minimum wage. Here option E is the correct answer.
If the factory owner was previously paying all workers $21 per hour and is now required to pay them $30 per hour, it is likely that the cost of labor has increased significantly for the factory owner. Depending on the profitability of the business and the elasticity of demand for the products produced, the owner may be forced to lay off some workers to maintain profitability.
The number of workers laid off will depend on various factors such as the size of the factory, the number of workers employed, the wages of other workers, and the demand for the products produced. Therefore, it is not possible to determine the exact number of workers who lost their jobs based solely on the information provided.
While it can increase the income of low-wage workers, it can also lead to job losses if employers cannot afford to pay the increased wages. Policymakers must carefully consider the potential impacts before implementing such policies.
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Complete question:
The government of a country increased the minimum wage from $21 to $30. a factory owner had to lay off some of his workers because he could not afford to pay all of them. how many people lost their jobs?
a. 8
b. 10
c. 16
d. 24
e. Can't be determined
a growth strategy involves expansion of one or more aspects of a business. (true or false)
It is highly appropriate and completely accurate to be mentioning that expansion of one or more aspects of the businesses are involved under a growth strategy. Therefore, the said statement holds true.
A growth strategy can be taken into general sense of understanding as the strategy that has a primary aim of reaching to a goal-oriented position by expanding the scope of operations of the businesses. A growth strategy can aim primarily towards more than one expansion at the same time during the process.
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Companies with high operating leverages generally have lower fixed costs than variable costs. True False.
This given statement is FALSE. Operating leverage refers to the degree to which a company's fixed expenses make up its overall expense structure.
This ratio demonstrates the cost structure of a business and can help investors and analysts understand how changes in sales volume can affect profits. Companies that have a high degree of operating leverage, for example, will see a larger increase in earnings when sales volumes rise than companies with low operating leverage. The higher the operating leverage, the more dependent a company's earnings are on sales volume. Companies with high operating leverage have a higher fixed cost component of total costs.
Variable expenses are smaller in percentage of total expenses than fixed expenses in companies with high operating leverage. This is because as sales rise, fixed expenses stay constant, while variable expenses grow in proportion to sales. The opposite is true for businesses with low operating leverage, which have a lower fixed cost component of total expenses. Variable expenses, on the other hand, are more significant in percentage of total expenses than fixed expenses.
This is due to the fact that when sales increase, variable expenses grow in proportion to sales, while fixed expenses remain constant.
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Suppose nominal GDP was $360 billion in 1990 and $450 billion in 2000. the appropriate price index was 120 in 1990 and 125 in 2000. Between 1990 and 2000 real GDP:
Between 1990 and 2000 real GDP increased by [tex]20[/tex] billion dollars.
Between 1990 and 2000 real GDP:
Real GDP is the economic output of a nation in terms of its actual output in a given year, adjusted for inflation. In this case, the actual GDP is calculated using nominal GDP, which is then adjusted for inflation using the appropriate price index to determine real GDP.
The formula for calculating real GDP is:
Real GDP = (Nominal GDP ÷ Price Index) × 100
Using the data given in the question, the real GDP for 1990 can be calculated as:
Real GDP for 1990 = [tex](360 ÷ 120) × 100 = 300[/tex] billion dollars
The real GDP for 2000 can be calculated as:
Real GDP for 2000 =[tex](450 ÷ 125) × 100 = 360[/tex] billion dollars
Therefore, the increase in real GDP between 1990 and 2000 is: [tex]$360[/tex] billion in 1990 and [tex]$450[/tex] billion in 2000, with a price index of 120 and 125 respectively.
Between 1990 and 2000 real GDP increased by 20 billion dollars.
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using bi, quicken loans has increased the speed from loan application to close, which allows it to meet client needs as thoroughly and quickly as possible. a. true b. false
"Using BI, Quicken Loans has increased the speed from loan application to close, which allows it to meet client needs as thoroughly and quickly as possible."
The given statement is true.
How can Business Intelligence (BI) assist a firm in achieving its objectives?Business Intelligence (BI) has emerged as an essential strategy for enterprises to get real-time data and actionable insights. It allows the organization to analyze business data from multiple sources, track metrics and KPIs, and get actionable insights for better decision-making.
The use of Business Intelligence (BI) solutions is beneficial to firms in the following ways:
Improves decision-making:Business Intelligence (BI) enables organizations to analyze data from various sources, such as marketing and sales data, financial data, supply chain data, and customer data. This data aids in better decision-making and the ability to identify new opportunities and trends.
Improves Operational Efficiency:Business Intelligence (BI) enables organizations to analyze and track operational KPIs and metrics to identify bottlenecks and inefficiencies. It enables them to optimize the supply chain and distribution networks and improve production and service delivery.
Enhances Customer Experience:Business Intelligence (BI) enables organizations to better understand customer needs and preferences by analyzing customer data from various sources. As a result, the organization can develop targeted marketing campaigns and product offerings to improve customer satisfaction and loyalty.
Increases Revenue:Business Intelligence (BI) enables organizations to identify new business opportunities and trends by analyzing data from various sources. It enables the organization to develop innovative products and services, optimize pricing strategies, and develop targeted marketing campaigns to increase revenue.
Therefore, it is concluded that the given statement is true: "Using BI, Quicken Loans has increased the speed from loan application to close, which allows it to meet client needs as thoroughly and quickly as possible."
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What do you call the people organizations and procedures involved in producing and delivering products and services from primary sources to end users?
The people, delivering, and procedures involved in producing and delivering products and services from primary sources to end users are known as the supply chain.
What is a supply chain? A supply chain refers to the various entities, individuals, and activities that are involved in the production and delivery of products and services. From the point of origin to the point of consumption, supply chain management includes all activities, people, and organizations involved in delivering a product or service.A supply chain is made up of several components, including the following:Raw materials or components that are used in the production process.The manufacturer or producer of the goodsThe distributors and logistics providers responsible for moving the goodsThe retailer or end customer who purchases and uses the goods or services.Components of the supply chain:Planning, sourcing, manufacturing, delivery, and returns are the five main components of the supply chain. These components are essential for effective supply chain management, and they must work together seamlessly for the process to be successful. Each of these components has a critical role in the supply chain and requires careful attention to detail to ensure success.
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true or false. your emergency fund should go in your checking account, not a money market account.
your emergency fund should go in your checking account, not a money market account. The statement is false.
It is generally not advisable to keep your emergency fund in your checking account, as checking accounts typically offer very low interest rates and may tempt you to spend the money on non-emergencies. A better option is to keep your emergency fund in a separate account, such as a high-yield savings account or a money market account, that offers higher interest rates and is less accessible for day-to-day spending. This can help ensure that your emergency fund remains available when you need it most. A money market account is a type of deposit account that typically offers higher interest rates than traditional savings accounts, while still allowing limited check-writing privileges.
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A mail-order company business has six telephone lines. Let X denote the number of lines in use at a specified time. Suppose the pmf of X is as given in the accompanying table.
x 0 1 2 3 4 5 6
p(x) 0.10 0.15 0.20 0.25 0.20 0.05 0.05
Calculate the probability of each of the following events.
(a) {at most three lines are in use}
(b) {fewer than three lines are in use}
(c) {at least three lines are in use}
(d) {between two and five lines, inclusive, are in use}
(e) {between two and four lines, inclusive, are not in use}
(f) {at least four lines are not in use}
(a) The probability of at most three lines being in use is 0.10 + 0.15 + 0.20 + 0.25 = 0.70.
(b) The probability of fewer than three lines being in use is 0.10 + 0.15 = 0.25.
(c) The probability of at least three lines being in use is 1 - (0.10 + 0.15 + 0.20) = 0.55.
(d) The probability of between two and five lines being in use is 0.15 + 0.20 + 0.25 + 0.20 = 0.80.
(e) The probability of between two and four lines not being in use is 0.10 + 0.05 + 0.05 = 0.20.
(f) The probability of at least four lines not being in use is 0.05 + 0.05 = 0.10.
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Of the three factors you found that could lead to an increase in aggregate supply, which do you think would be the easiest one for the government to influence? Explain your answer.
Technological progress is often aided by government research and development programs, tax incentives, or other forms of government support. Governments can also help facilitate the diffusion of technological advances throughout the economy and the wider society.
What is aggregate supply?Aggregate supply is the total amount of goods and services that producers are willing and able to supply at a given price level in an economy during a given period. Aggregate supply is a measure of the total value of goods and services produced by an economy during a certain period, including both finished goods and intermediate goods used in production.
In other words, it is the total supply of goods and services that a country's producers are willing to provide at a given price level during a specified period. There are three factors that can lead to an increase in aggregate supply: Technological progress: Technological progress leads to an increase in the quantity and quality of factors of production.
This results in an increase in productivity, which results in an increase in aggregate supply. Lower production costs: When production costs are lower, producers are more willing to supply goods and services at a given price level, resulting in an increase in aggregate supply.
An increase in the number of producers: An increase in the number of producers in an economy leads to an increase in the supply of goods and services, resulting in an increase in aggregate supply.
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licensures makes sure that employees have at least a minimally acceptable level of skill proficiency upon completion of a training unit. question 7 options: true false
The statement "Licensures make sure that employees have at least a minimally acceptable level of skill proficiency upon completion of a training unit." is true because it ensures that professionals have demonstrated a minimum level of competence in their field of study.
Licensure programs safeguard the public's health and well-being by ensuring that people who hold professional licenses have been trained and examined according to predetermined requirements.
Licensure refers to the process of granting licenses to individuals who have demonstrated a minimum standard of competency in a particular profession. Licensure is intended to guarantee the public that the practitioner is qualified to provide safe and effective services. Individuals who have obtained a license have met a minimum set of criteria established by the governing body. They have demonstrated competency through training and testing and have completed the education and experience required by the board or agency. Once licensed, practitioners must abide by the regulatory board's laws and ethics, as well as the profession's standards and rules.
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If you employer gives you a raise that is equal to the inflation rate, then your real salary will have increased True or False
False. If your employer gives you a raise that is equal to the inflation rate, then your nominal salary will have increased, but your real salary (purchasing power) will remain the same as before.
A measure of inflation is the rise in an economy's total level of prices for goods and services over time. The buying power of money declines when the inflation rate is positive, indicating that the same amount of money can buy fewer products and services. The nominal wage of an employee will grow, or their take-home pay will go up, if their employer provides them a raise that is equivalent to the inflation rate. Yet, their real wage, which measures the income's buying power, will stay the same as it was prior to the boost.
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indirect exporting is an entry strategy that involves the blank financial risk and allows a(n) blank return to the firm. multiple choice question. most; unlimited least; limited most; limited least; unlimited
Indirect exporting is an entry strategy that involves the least financial risk and allows a limited return to the firm.
What is indirect exporting?Indirect exporting refers to a situation where goods are exported to a foreign market by utilizing an intermediary. The intermediary might be a trading company, export management firm, export agent, or other such organizations. The intermediary's responsibility is to look for foreign buyers who are interested in the exporter's goods.
Content loaded indirect exporting: It refers to the process of providing your products or services to the clients via the internet, in which content is displayed on the company's website. Furthermore, the customers come to the website and place their orders. And then the company delivers the order to them. It is important to note that indirect exporting typically involves the least financial risk for the exporter because it relies on intermediaries who usually have a lot of experience working in the foreign markets. As intermediaries know the local language, the culture, the market practices, and the government regulations, they can help the exporter to navigate the market complexities, such as tariffs and customs procedures.
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An electronic exchange is an electronic forum where manufacturers, suppliers, and competitors buy and sell goods, trade market information, and run back-office operations.True False
The given statement, "An electronic exchange is an electronic forum where manufacturers, suppliers, and competitors buy and sell goods, trade market information, and run back-office operations," is true (T) because it is a digital platforms that enable all that was mentioned.
Electronic exchange enable buying and selling of goods, sharing of market information, and facilitating back-office operations. Electronic exchanges have revolutionized the way businesses buy and sell goods by providing a more efficient and transparent way to conduct transactions. These exchanges allow manufacturers, suppliers, and competitors to interact and trade goods in a centralized platform.
Moreover, electronic exchanges provide real-time market information and analytics, allowing traders to make informed decisions. They also offer various tools and functionalities, such as electronic order matching, risk management, and settlement services, which streamline back-office operations.
Overall, electronic exchanges have transformed the way businesses trade goods and services, leading to increased efficiency and cost savings.
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in 2020, jensen trucking reported a net income of $1,060,000, earnings per share on common stock of $5, and dividends on preferred stock of $200,000. if their income tax rate for 2020 was 30% and their payout ratio on common stock was 25%, how much did they pay in cash dividends for common stock in 2020?
The payout ratio is the percentage of earnings that a corporation pays out as dividends to its shareholders. This ratio is determined by dividing dividends paid by net income.
Calculation of Cash DividendWe can now figure out how much Jensen Trucking paid in total for all of their cash dividends for the year by using this result and the amount they paid in dividends on preferred stock.
[tex]Cash dividend to common stock=($1,060,000-$200,000)*25%\\ =$215,000[/tex]
Therefore, the total amount that Jensen Trucking paid in cash dividends in 2020 was $215,500.
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tough mudder offers a good compensation package. which item in the package is a tangible indirect reward?
Tough Mudder offers a good compensation package which includes tangible indirect rewards. These rewards can include items such as: health and wellness package.
A tangible indirect reward is a non-monetary award given to an employee or worker. This award can take the form of prizes, such as vacations, tickets to a show, or a health and wellness package. It is not a monetary award, but rather something that has intrinsic value.
What is a health and wellness package?A health and wellness package is a set of benefits offered to employees by their employer. These benefits can include Unlimited vacation pay, gym memberships, access to a nutritionist, or an on-site wellness center. Health and wellness packages are designed to help employees maintain good physical and mental health.
They are a tangible indirect reward that can help increase employee retention and improve morale.
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Complete question:
Tough Mudder offers a good compensation package. Which item in the package is a tangible indirect reward?
what was the amazing opportunity afforded to legendary, a standalone, independent movie company? what were some of the amazing growth opportunities being considered on a global basis?
The amazing opportunity afforded to Legendary, a standalone, independent movie company, was the ability to explore global growth opportunities.
They considered opportunities such as expanding into international markets, producing original content, and leveraging existing franchises.
Some of the amazing growth opportunities being considered on a global basis include expansion into the Chinese market, increased production of movies and TV shows, and acquisitions of other media companies.
The amazing opportunity afforded to Legendary, a standalone, independent movie company was the Chinese consortium investment of $3.5 billion in 2016.
Some of the amazing growth opportunities being considered on a global basis include expansion into the Chinese market, increased production of movies and TV shows, and acquisitions of other media companies.
Legendary Entertainment, also known as Legendary Pictures, is a film production company founded in 2000 by Thomas Tull, with the aim of producing high-budget movies. The company has produced several blockbuster movies, including Godzilla, Pacific Rim, The Dark Knight, and Inception.
Amazing growth opportunities: Some of the amazing growth opportunities being considered on a global basis include:
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Along with experience, a(n) Blank______ approach is particularly important when selecting the right promotional tools because a large number of possible combinations can achieve the same objective.Multiple choice question.a.wait-and-seeb. singularc. analyticald. subjective
The correct answer is c) analytical. An analytical approach is particularly important when selecting the right promotional tools because it allows for careful consideration of all available options.
This approach involves gathering data, analyzing it, and then making a reasoned decision about the best choice for achieving a desired objective.
An analytical approach can help to ensure that all possible combinations of promotional tools are considered and that the best one is selected.
Data can be collected from market research, surveys, and customer feedback to help determine the most effective promotional tools. This data can then be analyzed to identify the most suitable promotional tools.
Additionally, the cost-benefit of each promotional tool can be assessed to determine which combination of tools will offer the most effective results.
Analytical decision making also involves taking into account the wider context in which the promotional tools will be used. This includes understanding the company's budget, target audience, market conditions, and the objectives of the promotion.
By carefully considering all of these elements, an analytical approach allows for an informed decision to be made.
In summary, an analytical approach is particularly important when selecting the right promotional tools as it allows for careful consideration of all available options and ensures that the most suitable combination of promotional tools is chosen.
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Suppose a business is currently charging $5 for a widget and the average total cost of producing a widget is $7. From that information we know that O fixed costs must be really large for the business. O the revenues from selling widgets must be negative
o the profit from selling widgets can be negative. O average fixed costs must be rising from producing widgets.
Suppose a business is currently charging $5 for a widget and the average total cost of producing a widget is $7. From that information we know that the profit from selling widgets can be negative. Option (c)
The profit from selling widgets can be negative, as the business is selling the widget for less than it costs to produce. The difference between the price of the widget ($5) and the average total cost of producing the widget ($7) is a loss of $2 per widget sold.
This suggests that the business is not covering all of its costs and is operating at a loss. The fact that the price is below the average total cost of production also indicates that the business may not be able to sustain this pricing strategy in the long run without making changes to its cost structure or finding ways to increase revenues.
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Full Question: Suppose a business is currently charging $5 for a widget and the average total cost of producing a widget is $7. From that information we know that
O fixed costs must be really large for the business.
O the revenues from selling widgets must be negative
o the profit from selling widgets can be negative.
O average fixed costs must be rising from producing widgets.
During the 1930s Black voters overwhelmingly switched from the Republican Party to the Democratic Party becauseABlack Americans benefited from some New Deal economic policiesBthe Ku Klux Klan was gaining power within the Republican PartyCPresident Roosevelt actively pursued race reformDsouthern Democrats widely favored abolishing the poll taxEthe Democrats promised to end Prohibition
During the 1930s, Black voters overwhelmingly switched from the Republican Party to the Democratic Party because Black Americans benefited from some New Deal economic policies. The correct option is A.
What's New DealThe New Deal had a significant impact on American life in the 1930s. It was created to alleviate the suffering of people who were affected by the Great Depression. The New Deal policies introduced new employment opportunities and helped people get back on their feet economically
Franklin D. Roosevelt was the president of the United States at that time. He was a Democrat who aimed to provide relief to those who suffered from the Depression. One of the significant impacts of the New Deal policies was that Black Americans began to vote for the Democratic Party instead of the Republican Party.
In conclusion, the African Americans shifted from the Republican Party to the Democratic Party due to some New Deal economic policies during the 1930s. The Democratic Party provided policies that could improve the living standards of African Americans.
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Consider the following three scenarios: 1. ABC Lawncare performed lawn maintenance services for Drake Inc. on June 1st, and received payment of $500 for those services. II. On June 1st, Melly Corp received payment for 100 pounds of raw material to be delivered to Drake Inc. in 6 months. III. Lodo, LLC collected cash on June 1st for services rendered on May 1st. Revenue cannot be recognized on June 1st for: O II, III only O I, II only III only O I, II, and III
The revenue cannot be recognized on June 1st for I, II, and III. This is because for revenue to be recognized, the performance of services or delivery of goods must be completed.
Revenue recognition is the revenue generated during the normal activities of a business. Income itself represents one element of the basic accounting equation: capital.
In scenario 1, ABC Lawncare performed the service and was paid, so revenue can be recognized. In scenario 2, the raw material has not been delivered yet, so revenue cannot be recognized yet. In scenario 3, the services were rendered on May 1st, but payment was not collected until June 1st, so revenue cannot be recognized until June 1st.
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Saundra is the CEO of Boat Kingdom, a jet ski manufacturing plant. She is very proud of the quality jet skis her company produces. She wants to include a written warranty that promises to repair any jet ski that incurs damage within the first year after it is purchased, as long as the jet ski is returned to the manufacturer by the consumer. Terryl, the CFO of the company, discourages Saundra from providing any written warranty at all. To comply with the Magnuson-Moss Warranty Act, Saundra: o must provide a written warranty, but it only needs to give the consumer the name and address of the person to contact to obtain warranty service. o need not provide a written warranty. o must provide a written warranty that explains the parts that are covered in the warranty. o must provide a written warranty, and it must be written in simple, understandable language.
Saundra, the CEO of Boat Kingdom, wishes to include a written warranty that promises to repair any jet ski that incurs damage within the first year after it is purchased, as long as the jet ski is returned to the manufacturer by the consumer. Terryl, the CFO of the company, discourages Saundra from providing any written warranty at all. The correct options are a and d.
To comply with the Magnuson-Moss Warranty Act, Saundra must provide a written warranty, and it must be written in simple, understandable language. Magnuson-Moss Warranty Act requires all manufacturers and sellers of consumer goods worth more than $15 to provide a written warranty. In addition, the written warranty must be clear and understandable.
As a result, Saundra must provide a written warranty, and it must be written in simple, understandable language. The Act also mandates that the written warranty specify the items that are covered by the warranty, the period of coverage, and the name and address of the warranty issuer or any person who is authorized to receive warranty service.
The Act requires the seller or manufacturer to fix the consumer's product if it is discovered to be defective during the warranty period. It also implies that the manufacturer or seller must fix the issue without charging the customer anything. It is thus appropriate to ensure that Boat Kingdom writes a warranty that covers all of the necessary items that the Act requires in order to ensure that they do not encounter any legal difficulties.
Therefore, the correct options are a and d.
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Tom sevits is the owner of the appliance patch. Recently tom observed to difference in the dollar value of sales between the men and women he employee as sales associate. A sample of 40 days reveled the men sold a mean between $1400worth of apliance per day
The null hypothesis is that there is no difference in the mean amount of sales per day between men and women. The alternative hypothesis is that the mean amount of sales per day is larger for women than for men.
b) The decision rule is to reject the null hypothesis if the test statistic is greater than the critical value obtained from the t-distribution at the 0.05 significance level with degrees of freedom equal to the sum of the sample sizes minus 2.
c) The value of the test statistic can be calculated as (1500-1400)/sqrt(((200^2/40) + (250^2/50))) = 2.28.
d) Using the decision rule, the test statistic is greater than the critical value of 1.67 obtained from the t-distribution with 88 degrees of freedom (40+50-2) at the 0.05 significance level. Therefore, the null hypothesis is rejected.
e) The p-value can be calculated as the probability of obtaining a test statistic greater than 2.28 under the null hypothesis. Using a t-distribution with 88 degrees of freedom, the p-value is approximately 0.012.
f) The result suggests that there is a statistically significant difference in the mean amount of sales per day between men and women. Based on the sample data, it appears that women sell more appliances per day than men. However, it is important to note that this conclusion is based on a sample and may not necessarily hold true for the entire population. Further research and analysis may be needed to confirm the findings.
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Complete question:
Tom Sevits is the owner of the Appliance Patch. Recently, Tom observed a difference in the dollar value of sales between the men and women he employs as sales associates. A sample of 40 days revealed the men sold a mean of $1400 worth of appliances per day. For a sample of 50 days, the women sold a mean of $1500 worth of appliances per day. Assume the population standard deviation for men is $200 and for women $250. At the 0.05 significance level, can Mr. Sevits conclude that the mean amount sold per day is larger for women? a) State the null hypothesis and the alternative hypothesis. b) What is the decision rule? c) What is the value of the test statistic? d) What is your decision regarding the null hypothesis? e) What is the p-value? f) Interpret the result.
Grady and Associates performs a variety of activities related to information systems and e-commerce consulting in Toronto, Canada. The firm, which bills $180 per hour for services performed, is in a very tight local labor market and is having difficulty finding quality help for its overworked professional staff. The cost per hour for professional staff time is $90. Selected information follows. Billable hours to clients for the year totaled 10,000, consisting of information systems services, 6,000; e-commerce consulting, 4,000. Administrative cost of $441, 760 was (and continues to be) allocated to both services based on billable hours. These costs consist of staff support, $233, 400; in-house computing, $165,000; and miscellaneous office charges, $43, 360. A recent analysis of staff support costs found a correlation with the number of clients served. In-house computing and miscellaneous office charges varied directly with the number of computer hours logged and number of client transactions, respectively. A tabulation revealed the following data: Required: Assume that the firm uses traditional costing procedures, allocating total costs on the basis of billable hours. Determine the profitability of the firm's information systems and e-commerce activities, expressing your answer both in dollars and as a percentage of activity revenue. Assume that the firm uses activity-based costing. Determine the profitability of the firm's e-commerce and information systems activities, expressing your answer both in dollars and as a percentage of activity revenue. Jeffrey Grady, one of the firm's partners, doesn't care where his professionals spend their time because, as he notes, "many clients have come to expect both services and we need both to stay In business. Also, information systems and e-commerce professionals are paid the same hourly rate." Should Grady's attitude change? Assume that the firm uses traditional costing procedures, allocating total costs on the basis of billable hours. Determine the profitability of the firm's information systems and e-commerce activities, expressing your answer both in dollars and as a percentage of activity revenue.
Using traditional costing procedures, the profitability of the firm's information systems and e-commerce activities can be determined by calculating the total billable hours and subtracting the total administrative costs resulting in total profitability of $558,240 ($180 per hour times the 10,000 billable hours). As a percentage of activity revenue, the profitability is 30.9% ($558,240/$1,800,000).
Assuming the firm uses activity-based costing, the profitability of the firm's e-commerce and information systems activities can be determined by calculating the total cost for each activity and subtracting it from the total billable hours. For information systems services, the total cost is $233,400 + ($165,000/6,000 hours) * 6,000 hours = $386,400. The total profitability is $613,600 ($180 per hour times the 6,000 billable hours). As a percentage of activity revenue, the profitability is 33.9% ($613,600/$1,800,000).
For e-commerce consulting, the total cost is $233,400 + ($165,000/6,000 hours) * 4,000 hours = $280,800. The total profitability is $439,200 ($180 per hour times the 4,000 billable hours). As a percentage of activity revenue, the profitability is 24.4% ($439,200/$1,800,000).
Jeffrey Grady's attitude should change since the costs and profitability of the two services are different. He should be aware of the profitability of each service and allocate resources accordingly.
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A human resource __________ of an organization reveals the demographic of the firms labor force and whether it is technically up to date an thoroughly trained
Answer:
A human resource inventory of an organization reveals the demographic of the firms labor force and whether it is technically up to date an thoroughly trained
which statement best explains how max weber compares hindus to protestants?multiple choice question.hindus focus on the pursuit of material goods.hindus would be less likely to engage in entrepreneurial activity.protestants would be less likely to engage in entrepreneurial activity.protestants focus on an ascetic lifestyle.
Max Weber compared Hindus to Protestants in the following way: Hindus focus on the pursuit of material goods. According to the research and findings of Max Weber, Hindus tend to focus more on the pursuit of material goods, rather than an ascetic lifestyle as practiced by Protestants.
This view was reflected in Weber's famous work, The Protestant Ethic and the Spirit of Capitalism (1905).In the book, Weber argued that Protestantism played a vital role in the rise of modern capitalism. Weber claims that Protestants, particularly the Puritans, embraced a "Protestant ethic" of hard work, discipline, and self-denial as part of their religious beliefs. These qualities allowed them to become successful entrepreneurs and create the necessary conditions for capitalism to flourish. Meanwhile, Hindus were less likely to engage in entrepreneurial activity due to their focus on material goods, rather than an ascetic lifestyle.Protestants are known to be more disciplined, focused and hardworking as compared to the Hindus who focus on the pursuit of material goods. Therefore, it can be concluded that Hindus are less likely to engage in entrepreneurial activities.
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natural groceries has a policy of not buying paper products, such as paper towels, from certain companies if they are made with rainforest wood. natural groceries is sending an economic message that it protests deforestation because of severe damage to the environment. this is an example of a .
This is an example of a boycotting policy. As natural groceries is sending a strong message against deforestation and damage which is caused to the environment
What are natural groceries?Natural groceries are food items that are sold in stores that specialize in natural and organic foods. These foods are not manufactured with harmful chemicals or preservatives, but rather they are grown and harvested using sustainable methods. The company's policy of not buying paper products from certain companies if they are made with rainforest wood is an example of a boycotting policy. This policy protests deforestation because of the severe damage it can cause to the environment.
What is the boycotting policy?By not buying paper products from companies that use rainforest wood, Natural Groceries is sending a strong economic message that it protests deforestation and the severe damage it does to the environment.
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