When calculating a firm's profit, an economist will typically subtract only the explicit costs from the total revenue earned by the firm.
Explicit costs are the actual monetary payments made by a firm to acquire the resources it needs to operate, such as wages, rent, and utilities.
Explicit costs are easily quantifiable, and they represent actual out-of-pocket expenses that can be deducted from the firm's total revenue to arrive at its profit. For example, if a firm earns $100,000 in revenue but pays $70,000 in wages, rent, and other explicit costs, its profit would be $30,000.
In contrast, implicit costs, which are the opportunity costs of the resources the firm could have used elsewhere, are not usually factored in when calculating a firm's profit. Implicit costs can be more difficult to quantify, and they are not reflected in the firm's accounting records. However, they can still have an impact on the firm's profitability and long-term success.
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What conditions made profitable farming increasingly challenging during the Gilded Age?
a.the lack of access to technology
b.westward expansion that devalued the land
c.a steep reduction in the demand for crops
d.the high rates railroads charged farmers to transport their crops
Profitable farming became more difficult throughout the Gilded Age due to the lack of access to technology. The right response in this case is option A.
The majority of cities weren't prepared for the unexpected rise in population. Tenements and slums sprung up everywhere as a result of the housing crisis. Because of inadequate or nonexistent warmth, lighting, sanitation, or medical care, millions of people died from preventable illnesses. Immigrants without skills were common and prepared to work long hours for minimal pay.
Throughout the Gilded Era, technology saw numerous changes in the United States. Secondly, it enabled firms to come up with new, more effective ways to do formerly tedious jobs. Also, it improved transportation and communication, which facilitated easier customer contact for businesses.
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Consider the following information: budgeted indirect cost $3,000 budgeted production units 800 budgeted direct manufacturing labor hours 550 budgeted customer orders 400 actual number of setups 1,000 using broad averaging, what is the budgeted indirect-cost rate per direct manufacturing labor-hour?
To calculate the budgeted indirect-cost rate per direct manufacturing labor-hour using broad averaging, we need to divide the budgeted indirect cost by the budgeted direct manufacturing labor hours. The formula for this calculation is:
Budgeted indirect-cost rate per direct manufacturing labor-hour = Budgeted indirect cost / Budgeted direct manufacturing labor hours
Plugging in the given values, we get:
Budgeted indirect-cost rate per direct manufacturing labor-hour = $3,000 / 550
Budgeted indirect-cost rate per direct manufacturing labor-hour = $5.45
Therefore, the budgeted indirect-cost rate per direct manufacturing labor-hour using broad averaging is $5.45.
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Credit cards that offer flashy rewards like airline miles often . . .
a. Charge a high annual fee
b. Don't include protection against fraud
c. Can't be used for personal expenses
d. Have no interest fees
Option (a), Airline miles and other glitzy rewards are sometimes offered on credit cards with exorbitant annual fees.
What are the benefits of airline mile credit cards?You can earn miles each time you use an airline credit card to make a purchase. There are numerous complimentary incentives included with an airline credit card. Airline credit cards are designed for frequent travelers and give discounts on lodging, meals, and access to airport lounges.
What incentive schemes do credit cards offer?With reward credit cards, every dollar you spend is frequently rewarded with cash back, points, or travel miles. The best use of rewards cards is for customers who pay their balance in full each month. Otherwise, it's quite possible that the interest charges will outweigh your benefits.
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When business owners hire others to manage their business, the demand for auditing can be understood as the need for ______.
a. benchmarking
b. performance evaluation
c. accountability
When business owners hire others to manage their business, the demand for auditing can be understood as the need for "accountability".
Auditing is the process of examining a company's financial records, internal controls, and operations to provide an independent assessment of the company's financial position and performance. Auditing can help to ensure that the business is being managed in a responsible and ethical manner and that the owners' interests are being protected.
When owners hire others to manage their business, there is a need for accountability to ensure that the managers are acting in the owners' best interests and are not engaging in fraudulent or unethical behavior. Auditing can provide an independent assessment of the managers' actions and help to detect any potential issues before they become major problems.
While benchmarking and performance evaluation can be important tools for measuring a company's performance, they are not directly related to the need for auditing. Auditing is primarily concerned with ensuring that the company's financial statements are accurate and that the company is being managed in a responsible and ethical manner.
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according to mr. cochran you may resort to civil disobedience if your cause is just, it affects most people, you have tried to work through the system, you are willing to pay the fine and/or go to jail, and you remain non-violent.True/False
Civil disobedience is an act of protest in which individuals or groups break a law in order to make a statement or to bring attention to an issue.
It is typically peaceful and non-violent and is often used as a last resort when other efforts to effect change have failed.
Effective civil disobedience requires that the cause be just, that it affects the majority of people, and that people make an effort to work within the system.
Those who engage in civil disobedience should also be prepared to endure any fines or jail terms that may be imposed as punishment for their activities.
Civil disobedience may be a powerful strategy for making a point and enacting change when all of these requirements are met.
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opportunity cost refers to how many inputs a producer requires to produce a good. (True or False)
The correct response is A. Real opportunity cost is the number of inputs needed by a producer to make a good.
What is a producer's main responsibility?A movie, music record, stage production, or television show's business and finances are managed by producers, often known as film producers. The employment of production personnel, such as directors, crew members, and cast members, creating the production budget, and acquiring intellectual property rights are among their primary responsibilities.
A producer's biology is what?A: Photosynthesizing creatures are the producers. Any form of green plant is a producer. By absorbing sunlight and applying the energy to create sugar, green plants produce their food. This sugar, also known as glucose, is used by the plant to produce a variety of materials, including wood, needles, roots, and bark.
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As the price increases along a linear demand curve, the price elasticity of demand becomes:_________
'As the price increases along a linear demand curve, the price elasticity of demand becomes more elastic.
Price elasticity of demand is a measure of the responsiveness of demand to changes in the price of a good or service.
Because of this, consumers will be more sensitive to price fluctuations, which will result in a relatively substantial change in demand from a little change in price.
In other words, if a commodity or service's price rises, fewer people are prepared to acquire it, which lowers demand.
This is because customers will be able to replace the product or service with a less expensive substitute. The total demand for the good or service declines as a result.
In addition, as the price increases, customers might choose an entirely new commodity or service. This is because other goods and services may be more attractive than the one in question, due to their lower prices.
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Think of one business establishment nearby. Identify the micro and macro environmet factors that affect the bussiness establishment
One business establishment nearby that I can think of is a local coffee shop.
The micro environment factors that affect this business establishment are the customers, suppliers, competitors, and employees.
The macro environment factors that affect this business establishment are the economic, political, social, and technological factors.
The economic factors include the overall state of the economy, which can affect consumer spending and the cost of supplies. The political factors include government policies and regulations that can impact the business, such as health and safety standards or taxation.The social factors include the demographics and cultural trends of the area, which can influence consumer preferences and buying behavior.The technological factors include advancements in technology that can impact the way the business operates or the products and services it offers.More about business environment here
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disney experienced ____ with the contingency approach with the development of the movie, frozen, because it was able to also use frozen as a theme at its theme parks and in product merchandising.
Disney experienced success with the contingency approach in the development of the movie Frozen because it was able to leverage the popularity of the film across multiple channels, including theme parks and product merchandising.
The contingency approach is a management strategy that involves adapting to changing circumstances and identifying opportunities for growth and expansion. In the case of Frozen, Disney was able to recognize the potential for the film to become a blockbuster hit and develop a comprehensive strategy for capitalizing on its success. By creating a Frozen-themed attraction at its theme parks and developing a wide range of merchandise, from clothing to toys to home goods, Disney was able to the extend the reach and profitability of the Frozen franchise. This is an example of successful contingency planning and execution in the entertainment Corporation industry.
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when a company purchases an asset in exchange for a promise to pay later, the company records ______.
When a company purchases an asset in exchange for a promise to pay later, the company records a liability.
The liability represents the company's obligation to pay for the asset in the future, and it is recorded on the company's balance sheet. This type of transaction is known as a credit transaction or a purchase on account, where the company agrees to pay for the asset at a later date, usually with interest. The liability is recorded at the time of the purchase, and the asset is recorded on the company's balance sheet as well.
As the company makes payments on the liability, the balance of the liability is reduced until it is eventually paid off. The payment is recorded as a reduction in the liability and a corresponding reduction in the company's cash or other assets.
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Which one of the following terms is defined as dividends paid expressed as a percentage of net income?
A. dividend retention ratio
B. dividend yield
C. dividend payout ratio
D. dividend portion
E. dividend section
The term defined as dividends paid expressed as a percentage of net income is C. dividend payout ratio.
Dividend payout ratio is the proportion of a company's earnings that are paid out to shareholders as dividends. It is calculated by dividing the total dividends paid by the company by its net income for the same period. The result is expressed as a percentage, which indicates the portion of earnings that the company has chosen to distribute to shareholders as dividends. The dividend payout ratio indicates the portion of earnings that a company has chosen to distribute to its shareholders as dividends instead of retaining them for reinvestment in the business. A higher dividend payout ratio indicates that the company is distributing a larger portion of its earnings to shareholders as dividends, whereas a lower ratio indicates that the company is retaining more earnings for reinvestment in the business. Investors and analysts use the dividend payout ratio as one of the measures to evaluate a company's financial health and stability. A consistently high dividend payout ratio may indicate that the company has a stable and predictable cash flow and earnings, which can be attractive to income-seeking investors. On the other hand, a low or decreasing dividend payout ratio may signal that the company is retaining earnings to fund future growth or that it is experiencing financial difficulties. It is important to note that a high dividend payout ratio may not always be sustainable in the long run, as it could limit the company's ability to invest in future growth opportunities or to weather unexpected financial challenges. Therefore, it is important to consider other financial metrics and indicators in addition to the dividend payout ratio when evaluating a company's financial health and stability.
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An example of the__________management role would be representing the company at a shareholders meeting.
Find the missing words
Answer:board of directors
Explanation:
An example of the spokesperson (manager) management role would be representing the company at a shareholder's meeting.
The position of spokesman is similar to that of disseminator but with a concentration on external communication.
In this position, the manager represents the organization to the media, shareholders, and other external organizations.
Hiring, fostering, and letting go of staff employees comprise the majority of their management responsibilities.
Therefore, representing the firm at a shareholder's meeting is an example of a spokesman's (manager) management job.
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Which of these are required to calculate the current value of a bond? Check all that apply.
A. applicable market rate
B. coupon rate
C. par value
D. Price at the time of bond issue
E. Time remaining to maturity
The applicable market rate, the coupon rate, and the maturity time remaining.
To determine the present value of a bond, you must first know the appropriate prevailing wage, the face value, the par value, the price at the time the bond was issued, and the time until maturity.
The current price is the current rate of return that shareholders receive in the form of interest payments when they purchase bonds. The coupon rate is the fixed interest rate that the grant's issuer must pay to the bondholder.
The price at the time of issuing bonds is the amount paid by investors when the bond was first issued. The face value of a bond is its par value.
Last but not least, the time remaining until the expiry of the contract and is returned to the creditor. Knowing all of these elements allows you to calculate the present value of a bond.
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Which of the following is defined as a tax rate that decreases when the tax base increases?
a. Average tax
b. Proportional tax
c. Marginal tax
d. Progressive tax
e. Regressive tax
As the taxable amount rises, the tax rate decreases under this taxation system. Alternatively said, the tax rate and the taxable income regressive tax have an inverse connection.
When a tax is levied, it is said to be regressive if the tax rate drops as the amount subject to taxation rises.A tax that grows in rate as the amount subject to taxation rises is referred to as a progressive tax. As a tax rate moves from low to high, it is said to be "progressive" if the average tax rate for a taxpayer is lower than the marginal tax rate for that individual. It usually gets better and more sophisticated when anything is progressive. something retrogressive.
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How does someone learn more about an organization's culture?
A) Read about the organization
B) Interpret stories about the organization
C) Observe how people interact within the organization
D) Study the physical characteristics of the organization
E) All of these are examples of how someone can learn more about an organization's culture
The correct option is D, Study the physical characteristics of the organization an organization's culture.
Organization refers to the structure or framework that is put in place to manage and control activities in a system or group. It is the process of arranging and dividing work among individuals or teams to achieve a specific goal or objective. Organizations can be of different types such as government agencies, businesses, schools, hospitals, and non-profit organizations.
The main purpose of organizing is to streamline activities and resources in a manner that ensures the efficient utilization of available resources. It helps in the creation of clear job roles, responsibilities, and authorities for individuals or teams. Organization also assists in the identification of key performance indicators and objectives to measure success and growth.
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how is c snp or dsnp members care management
The member fills out a Health Assessment, which includes a series of inquiries regarding their health and any assistance with daily living they may require for their care management as a c snp or dsnp member.
In order to confirm that the customer has at least one of the qualifying chronic conditions covered by the CSNP, it gives the plan permission to get in touch with the provider mentioned on the form.
A coordinated care plan (CCP) for Medicare Advantage (MA) known as a special needs plan (SNP) is created expressly to offer tailored treatment and restrict membership to those with special needs. Any of the following could be a person with special needs: a person who is institutionalised, a dual qualified. Those with diabetes, lung problems, cardiovascular illnesses, chronic heart failure, and/or end-stage renal disease are eligible for Medicare Advantage Chronic Condition SNPs (ESRD).
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How to reduce agency problems between shareholders and management?
Performance-based share and bonus plans are the primary strategies used by businesses and their shareholders to address the agency issue.
What are the remedies for issues with agency between stockholders and managers?Offering stock packages or commissions for the decisions made by the administration and their effects on the shareholders can help companies settle the agency issues that exist between the company's investors and management.
What solutions are there to the issues facing agencies?You can avoid the agency issue in your company by mandating complete openness, putting limitations on the agent's skills, and linking your remuneration plan to the welfare of the principal.
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What are the seven states that have Halal certification in the US?
Halal certification is a process that verifies that a product or service conforms to Islamic dietary laws. While there are many Halal-certified businesses in the US.
However, here are seven states that have organizations that provide Halal certification:
Illinois - The Islamic Food and Nutrition Council of America (IFANCA) is based in Illinois and provides Halal certification for food products.
California - The Halal Certification Services organization is based in California and provides Halal certification for food products and other businesses.
Michigan - The Michigan Islamic Academy offers Halal certification for food products, as well as other Halal services.
Texas - The Islamic Services of America is based in Texas and provides Halal certification for food products and other businesses.
New York - The Halal Advocates of America is a non-profit organization based in New York that provides Halal certification for food products.
New Jersey - The Islamic Food Council of America is based in New Jersey and provides Halal certification for food products.
Pennsylvania - The Islamic Society of North America is based in Pennsylvania and provides Halal certification for food products, as well as other services.
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When a government imposes penalties on both sellers and buyers of an illegal good, the price of the good ________ and the quantity ________. A.rises; might increase, decrease, or not change
B.falls; might increase, decrease, or not change
C.might rise, fall, or not change; decreases
D.falls; decreases
When a government imposes penalties on both sellers and buyers of an illegal good, the price of the good rises, and the quantity decrease.
Impact of fines levied by the government:
The cost of producing and consuming the illegal product rises as a result of the penalties. Vendors will be penalised for selling the item, raising their expenses and decreasing the profitability of selling the item at the same price. Customers will be penalised for buying the product, which will lower their willingness to pay for it and lower the quantity requested.
These fines will ultimately cause the demand and supply curves to shift to the left, raising prices and reducing the amount of the illegal product that is sold. Sellers will be required to pay a fine for distributing the product, which The elasticity of supply and demand for the illegal product will, however, determine exactly how much the price and quantity will change. As a result, the right response is (a) rises; may decline, increase, or not change.
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how is a mutual savings bank different from a commercial bank?
A mutual savings bank is a type of financial institution that is owned by its depositors and operates primarily to provide savings and mortgage lending services to its members.
One key difference between mutual savings banks and commercial banks is their ownership structure. Mutual savings banks are owned by their depositors, who receive a share of the bank's profits in the form of dividends, while commercial banks are typically owned by shareholders who invest in the bank's stock.Another difference is the focus of their operations. Mutual savings banks typically prioritize mortgage lending and other consumer-oriented services, while commercial banks often have a more diverse range of services and cater to both individual and business customers.mutual savings banks may have more limited geographic reach compared to commercial banks, which often have larger branch networks and serve customers across a broader geographic region.
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If a firm expects that the price of its product will be lower in the future than it is today___A.the firm has an incentive to increase supply now and decrease supply in the future. B. the firm has an incentive to decrease supply now and increase supply in the future. C. the firm has tin incentive to increase quantity supplied now and decrease quantity supplied the future. D. the firm will not change supply until it knows for certain what will happen to its price.
If a firm expects that the price of its product will be lower in the future than it is today the firm has an incentive to increase supply now and decrease supply in the future. Thus, option (a) is correct.
What is product?The thing being sold is called a “product.” A product and service market foundation. Items are divided into two categories: industrial products and consumer products. The product is to fulfill the needs of the consumer. There was the based on the commonly are the rules in the government to follow the product management.
According to the case, was the basis of the demand and the supply law. A company was the forecasted the price of its product will be lower in the future was the increase in supply now, and they decreased of the supply in the future.
As a result, the significance of the product will be lower in the future than it is today are the aforementioned. Therefore, option (a) is correct.
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a health insurance policy lapses but is reinstated within an acceptable timeframe. how soon from the reinstatement date will coverage for accidents become effective?
The effective date of coverage for accidents after the reinstatement of a lapsed health insurance policy depends on the policy terms and the reason for the lapse.
Generally, most insurance companies consider the reinstated policy as a new policy and have a waiting period before coverage for accidents becomes effective. This waiting period is typically 30 days from the date of reinstatement of the policy.
During the waiting period, any injury resulting from an accident is not covered by the insurance policy. However, any illness or medical conditions that occur during the waiting period may be covered. It is essential to read the terms and conditions of the policy for specifics on the waiting period and coverage.
In some cases, the insurance company may waive the waiting period for accidents upon reinstatement. However, this may require additional premium payments or other conditions, and it varies from insurer to insurer.
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[6] Rock Co.'s financial statements had the following balances at December 31: Infrequently occurring gain $ 50,000 Foreign currency translation gain 100,000 Net income 400,000 Unrealized gain on available-for-sale debt securities 20,000 What amount should Rock report as comprehensive income for the year ended December 31? A. $400,000 B. $420,000 C. $520,000 D. $570,000
Option C, or $520,000, is the right response.
Comprehensive income is the change in equity during a period from transactions and other events and circumstances from non-owner sources. It incorporates all equity changes over the course of a time period aside from those brought on by owner investments and owner dividends.
In this problem, the following items are part of comprehensive income:
Infrequently occurring gain: $50,000
Gain from currency conversion: $100,000
Unrealized gain on available-for-sale debt securities: $20,000
To calculate comprehensive income, we add these items to the net income for the year:
Comprehensive income = Net income + Infrequently occurring gain + Foreign currency translation gain + Unrealized gain on available-for-sale debt securities
Comprehensive income = $400,000 + $50,000 + $100,000 + $20,000 = $520,000
∴, For the year ending December 31, Rock must disclose $520,000 as comprehensive income.
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as the price of good X rises, the demand for good Y falls. Therefore, goods X and Y areA. ComplementsB. SubsitutesC. SurplusD. Price
The price of a good X rises, causing the demand for good Y to fall. The two goods are therefore substitutes.
What does substitutes refer to?Substitutes are goods that can be used in place of each other, meaning that as the price of one increases, consumers will switch to the other, causing a decrease in demand for the more expensive good and an increase in demand for the substitute.
What causes a decrease in demand when income is down?Consumers' purchasing power will likewise decline as a result of their declining income. As a result, less people will buy the product on the market. As a result, even if the product's price and supply remain unchanged, demand will shift. This is referred to as a decline in demand.
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The most common reason that systems fail is because the business requirements are either missing or incorrectly gathered during the analysis phase.
True or False
The given statement "The most common reason that systems fail is because the business requirements are either missing or incorrectly gathered during the analysis phase." is true because business requirements basically drive the system and without them it will not be complete.
The purpose of the business requirements is basically to be able to define a particular project’s business needs, and also the criteria of the project's success. Business requirements happen to describe why a particular project is required and whom will the project benefit, where it will take place and how to evaluate it.
The most common reason why most of the systems fail is because these business requirements are found to be either missing or they are gathered incorrectly during the analysis phase and since these business requirements basically drive the entire system, without them it won't be successful.
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A widower owned a car repair business, including the garage out of which it operated. Upon his retirement, the widower sold the business to an employee and deeded a 50 percent ownership interest in the garage to the employee in exchange for the employee's payment to the widower of the fair market value of both the business and the share of the garage. Within the same deed, the widower deeded the remaining 50 percent interest in the garage to his daughter. The deed specified that his daughter held her interest jointly with the employee's 50 percent interest and that the survivor would take sole ownership of the garage. Upon the employee's death, his real property interests passed by will to his child by a prior marriage.
Who owns the garage?
Answers:
A. The daughter, because she owned the property as a joint tenant with the right of survivorship.
B. The daughter and the employee's child each hold a 50 percent interest, because rights of survivorship may only be created between married persons.
C. The employee's child, because the employee paid fair market value for the business while the daughter did not.
D. The daughter and the employee's child each hold a 50 percent interest, because they are tenants in common.
A. The daughter is the owner of the garage because the deed stated that she was a joint tenant with the employee's 50% stake and that the sole ownership would pass to whoever survived.
The answer is A in light of the given circumstances. The deed stated that the daughter held joint tenancy with the employee's 50% stake and that the survivor would assume sole ownership, therefore she now owned the garage. If one joint tenant dies during a joint tenancy, the surviving joint tenant will instantly become the property's sole owner due to the right of survivorship. As a result, the employee's daughter received a 50% stake in the property upon the employee's death as the surviving joint tenant, while the employee's kid from a previous marriage had no right to the property.
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hat does an assembly line moving at a fixed rate of speed do to a leader's ability to influence employees' production rate? It increases the need for a transformational leader It neutralizes it It serves as a substitute for leadership What are individual, task, and organizational characteristics that tend to outweigh the leader's
An assembly line moving at a fixed pace can neutralize a leader's ability to influence the production rate of employees because the assembly line process is highly structured and standardized, with little room for individual variation or improvement.
The pace of work is predetermined and synchronized, which means that workers have little control over the speed at which they perform their tasks.
As a result, a leader's ability to influence employees' production rate is limited, and the assembly line itself serves as a substitute for leadership. There are several individual, task, and organizational characteristics that tend to outweigh the leader's influence in the assembly line context.
For example, individual characteristics such as experience, skill level, and motivation can have a significant impact on employee productivity and performance, regardless of the leader's input. Task characteristics such as task complexity, task variety, and task autonomy can also influence employee performance and productivity, as can organizational factors such as culture, structure, and policies.
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suppose that the world price of copper is $4 a pound, poland does not trade internationally, and the equilibrium price of copper in poland is $3 a pound. poland then begins to trade internationally. the price of copper in poland ______. the quantity of copper produced in poland ______.
A rises; decreases B. falls; decreases c. falls; increases D. rises, increases
The quantity of copper produced in Poland increases since they are used to producing at a lower price point.
The quantity of copper produced in Poland decreases, export
What Is An Export?One of the main benefits from opening a country to international trade is the ability to Import and Export goods and services. An Export is a product that is produced in the country's local economy but is sold to customers in other countries.
The price of copper in Poland rises since its current price is below the global price.
The quantity of copper produced in Poland increases since they are used to producing at a lower price point.
The correct option is (D)
The quantity of copper bought by Poland decreases since their internal economy produces it for a cheaper price than externally.
Poland exports copper since its producers sell copper for cheaper in Poland.
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A local bank reviewed its credit card policy with the intention of recalling some of its credit cards. in the past 5% of cardholders defaulted, leaving the bank unable to collect the outstanding balance. Hence managment established a prior probability of .05 that any particular cardholder will default. The bank also found that the probability of missing a monthly payment is.20 for customers who do not default.of course the probality of missing a monthly payment for those who default is 1.A) givien a customer missed a monthly payment , compute the posterior probability that the customer will default?B) the bank would like to recallits credit card i the probability that a customer will default is greater than .20. should the bank recall its card if the customer misses a payment? why or why not?
The probability is greater than 0.2, the bank should recall its card. Therefore, the bank should recall its card if the customer misses a monthly payment.
What is the calculation?Step 1
(a). Compute the posterior probability that the customer will default given that the customer missed one or more monthly payments:
Denote the event that the cardholder will default as D.
Denote the event that the cardholder will not default as Dⁿ
It is given that, the prior probability that any cardholder will default is 0.05.
That is,
P(D)=0.05 AND P(Dⁿ) = 0.95
Denote the event that the cardholder missing a monthly payment as M.
It is given that, the probability of missing a monthly payment is 0.2 for customers who do not default. That is, P(M|Dⁿ) = 0.2
It is given that, the probability of missing a monthly payment is 0.2 for customers who default. That is, P(M|D) = 1
The posterior probability that the customer will default given that the customer missed one or more monthly payments is obtained as 0.2083 from the calculation given below:
P(D|M) = P(M|D) * P(D) / P(M|D) * P(D) + P(Dⁿ)
= 1 * 0.05 / 1* 0.05 + 0.2 * 0.95
= 0.05/ 0.24
= 0.2083
Thus, the posterior probability that the customer will default given that the customer missed one or more monthly payments is 0.2083.
Step 2
(b). Comment whether the bank should recall its card if the customer misses a monthly payment:
It is given that, the bank would recall its card if the probability that a customer will default is greater than 0.2.
Here, the probability that the customer will default given that the customer missed one or more monthly payments is 0.2083.
If the customer misses a monthly payment, the probability that a customer will default is 0.2083.
Here, 2083>0.2
Since, the probability is greater than 0.2, the bank should recall its card.
Therefore, the bank should recall its card if the customer misses a monthly payment.
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one way to mitigate agency problems is to include shares of company stock in executive compensation packages.True/False
TRUE: Including firm stock in executive remuneration packages as one strategy to reduce agency issues.
Explain about the executive compensation?The term "executive compensation" refers to a full remuneration package provided to executives to enhance both their personal and the organization's performance.
It could come in the form of salaries, bonuses, stock options, benefits and perks stock incentives, retirement plans, and many other incentives.An executive remuneration package often consists of both financial and non-financial elements. Salary, benefits, bonuses, and equity are these things. Typically, an executive would receive more equity than a regular employee, and a regular employee would frequently receive no equity at all in a private corporation.Thus, including firm stock in executive remuneration packages as one strategy to reduce agency issues is a correct statement.
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