Scarcity, which deals with how people satisfy their limitless wants and needs with scarce resources, is one of the key concepts in economics. The monetary value that people place on goods and services as well as how governments and private companies decide to distribute resources are all impacted by scarcity.
Who first proposed the idea of finite resources and limitless wants?He underlined the connection between economic aims and limited resources. Complete response: An explanation of aims and scarcity in the economy made famous by economist Lionel Robbins is known as Robbin's definition. He explained that human wants are boundless economic purposes.
In economics, the term "scarcity" describes a situation in which there is a limited supply of a resource and a high demand for that item. Because of the scarcity of resources, consumers must choose how to best deploy those resources to meet as many of their wants and requirements as feasible.
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Each of the following individuals is eligible to participate in a Keogh plan EXCEPT:
A) an executive of a corporation who receives $5,000 in stock options from his company.
B) a self-employed doctor in private practice.
C) a securities analyst employed by a major research organization who makes $2,000 giving lectures in his spare time.
D) an engineer employed by a corporation who earns $5,000 making public speeches in her spare time.
Each of the following individuals are said to be eligible to participate in a Keogh plan except an executive of a corporation who receives $5,000 in stock options from his company.
Each of the following individuals are eligible in order to participate in a Keogh plan except an executive of a corporation who tends receives $5,000 in stock options from his company. This is because the maximum annual compensation of each employee which can be taken into account under a plan for any year must not exceed $280,000 for 2019.
However, there is no asset limitation for participation in HUD assisted-housing programs. However, the definition of annual income includes net income from the Keogh plan.
Hence, option A is correct.
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A deed transferring complete ownership of a two-acre plot of land to you with no limitations or restrictions would be __________.a.)a fee simple defeasible interestb.)a joint tenancy interestc.)a life estate interestd.)a fee simple absolute interest
A deed transferring complete ownership of a two-acre plot of land to you with no limitations or restrictions would be a fee of simple absolute interest.
The transfer of both business and residential property is accomplished using these deeds. Either the seller sells the property to the buyer, or a family member sells the property to a different family member or relative. The deed's primary goal is to safeguard the transferee from any potential issues, claims, and scams.
Both the buyer and the seller must sign the MOU before the property title is transferred. It contains information about the buyer and seller as well as the filing date for the agreement, the value of the property, and the grace period for making the full payment. The transfer of both business and residential property is accomplished using these deeds.
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A soft peg policy typically allows the exchange rate to move up and down by relatively small amounts in _________________, but seeks to avoid extreme short-term fluctuations.
A. the market exchange
B. the medium run
C. the long run
D. the short run
A soft peg policy typically allows the exchange rate to move up and down by relatively small amounts in D. the short run , but seeks to avoid extreme short-term fluctuations.
A soft peg is a type of exchange rate policy in which a country's central bank intervenes in the foreign exchange market to maintain the value of its currency within a certain range, but allows it to fluctuate within that range. The central bank will typically buy or sell its own currency in the market to influence the exchange rate. A soft peg policy typically allows the exchange rate to move up and down by relatively small amounts in the short run, but seeks to avoid extreme short-term fluctuations. This type of policy is often used by countries that want to maintain some level of exchange rate stability, but also want to retain some flexibility to respond to economic changes.
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One explanation for the downward slope of the aggregate demand curve is that when the price level increases, which of the following will decrease?(a) real value of assets (wealth)(b) prices of foreign goods(c) prices of substitute goods(d) expectations of future prices(e) government deficit
One explanation for the downward slope of the aggregate demand curve is that when the price level increases, the following will decrease real value of assets (wealth).
How does the aggregate demand curve's descending slope make sense?The aggregate demand curve displays the sum of consumption, investment, government purchases, and net exports at each price level for any given period. It slopes down because to the effects of wealth on consumption, interest rates on investment, and net exports on global commerce.
What among the following reasons why the aggregate demand curve slopes downward as the price level rises?If prices rise, we feel poorer and buy fewer things, hence option an is the correct response. Explanation: As a result of the law of demand's existence, the demand curve slopes downward. It claims that the relationship between a good's price and the quantity that consumers desire from it is inverse.
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I need the answer please help
As given that the taxable state income for the year is $70,000, the applicable tax rate is 5.5%, thus, the tax payable is $3,850.
What does a progressive tax means?A progressive tax is one in which the tax rate rises in proportion to the taxable amount. The term progressive refers to the manner in which the tax rate rises from low to high, resulting in a taxpayer's average tax rate being less than the person's marginal tax rate. The term can refer to either individual taxes or an entire tax system.
We are given that the taxable state income for the year is $70,000. Note that for this salary range, the tax rate of 5.5% is applicable.
Tax payable is computed as:
= $70,000 * 5.5%
= $3,850
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If Massimports and Co needs Argentine Peso to purchase 1 million pesos worth of leather goods from Argentina, given an exchange rate of $1 = 20 Argentine Peso, it will need to exchange _______ on the foreign exchange market. $20 million $200,000 $50,000
Argentine pesos are worth 3 Canadian dollars. The Canadian dollar's exchange rate in terms of the Argentine peso.
The term "conversion" is most frequently used in foreign exchange markets to refer to the ratio between two currencies. It demonstrates how much of one currency is required to swap for another's worth in that currency. Given the previous, allow: Rate of the Canadian Dollar to the Argentine Peso is given as CAD/ARS. The rate of the Canadian Dollar in US Dollars is $0.90. The Argentine peso is now worth $0.30 in US dollars. Here, because the US dollar serves as both the Canadian dollar's and the Argentine peso's common variable currency (i.e., the currency whose amount can change for one unit of another currency), the Canadian dollar's exchange rate in terms of the Argentine peso is given by: CAD/ARS is equal to (CAD/USD) / (ARS/USD). CAD/ARS equals $0.9/$0.03 ARS/CAD = 3.
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suppose that canada produces two goods: lumber (y) and fish (x). it has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish each day. a. the maximum amount of lumber canada could produce in a day is 180 million feet of lumber. b. the maximum amount of fish it could produce in a day is 360 million fish. c. draw canada's production possibilities frontier. instructions: use the tool provided 'ppf' and plot only the endpoints such that the first point touches the vertical axis and the last point touches the horizontal axis. d. using your graph, if 60 million feet of lumber are cut, 240 million fish can be caught.
The opportunity cost of producing 1 foot of wood/lumber is 2 fish.
When economists discuss the "opportunity cost" of a resource, they mean the next highest alternative use value of that resource.
If you spend time and money on movies, you can't spend that time at home reading books, and you can't spend that money on anything else.
"When making decisions, the value of the next best option is sacrificed.
Opportunity cost is the value of what you lose by choosing between two or more options. When you make a decision, believe it will be enough, whether you succeed or not.
as a result,
a. 10 feet x 18 million employees = 180 million nails
b. 20 fish x 18 million employees = 360 million fish
c. The opportunity cost of producing 1 foot of wood is equal to 2 fish. As a result, the opportunity cost of producing 60 million feet of wood is equivalent to 120 million fish. Canada can only produce 120 million or 240 million fish from 360 million if it produces 60 million feet of timber.
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The complete question:
Suppose that Canada produces two goods: lumber and fish. It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish each day.
a. What is the maximum amount of lumber Canada could produce in a day?
b. What is the maximum amount of fish it could produce in a day?
c. How many fish can be caught if 60 million feet of lumber are cut.
It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. As a result, operators of hydroelectric power-generating plants downstream along the river find that they must clean up the river's water before it flows through their equipment.If the government intervenes and corrects the externality in the situation described above, we would expectSelect one:A. the price of paper from the mills to decrease.B. production in the paper mills to decrease.
Paper mills that are close to the Layzee River have a tradition of dumping garbage into the waterway. The right answer is B, which calls for a decline in paper mill output.
It seems likely that the paper mills would be required to take actions to limit the quantity of trash they release into the river if the government steps in and corrects the additional factor in the situation outlined. This may include altering their manufacturing processes or adding new waste-treatment machinery. Such changes would likely increase the mills' production costs, resulting in lower output. Additional fines or penalties levied by the government against the mills might result in a drop in output. This could include altering how they create goods. This might entail making adjustments to their manufacturing procedures or introducing new waste-treatment equipment. The mills' output would surely decrease as a result of these adjustments' higher manufacturing costs.
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the cash payment of a $1,090 account payable was posted as a debit to accounts payable and a debit to cash for $1,090.
The trial balance will not match if there’s a distinct difference between the amount posted in debit and the one posted in credit.
The $3,250 purchase of office goods on account was reported incorrectly in the journal as $2,350 debit to Office Supplies and $2,350 credit to Accounts Payable. A trial balance is a secretary worksheet in which the balances of all checks are collected into debit and credit regard column summations that are equal. A company prepares a trial balance periodically, generally at the end of every reporting period. The general purpose of producing a trial balance is to insure that the entries in a company’s secretary system are mathematically correct. A trial balance is frequently the first step in an inspection procedure, because it allows adjudicators to make sure there are no fine crimes in the secretary system before moving on to more complex and detailed analyses.
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What questions can project managers ask themselves in order to help manage change effectively? Select all that apply.O How much will the change cost?O How can we get leadership and key stakeholders to force the change?O What are the best means of communication to convey the change?O How will the organization react to change?
The questions can project managers ask themselves in order to help manage change effectively are-
To create projects that are sure to succeed, project managers use collaboration, passion, and organized goal-oriented professionalism. Project managers work on a wide variety of projects, which is in line with their duties and expertise.
The questions would be-
What do we continue doing and what do we stop doing? It is crucial to be clear about what needs to stop and what needs to be continued or started from scratch.
Should this change be made? Thoughtful new approaches and ideas can be developed, but sometimes it's best to take a step back and consider whether the changes are really necessary.
Where do we begin? How to start is undoubtedly the million-dollar question on everyone's mind during a time of change. Apart from the fact that change is difficult, whether it be in a personal or professional context, the idea of starting over scares people the most because they worry about making mistakes or, worse yet, failing.
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The cost of a plant asset includes the following: multiple select question. O purchase price O disposal cost O depreciation O expense cost to prepare it for use
The cost of a plant asset includes the following - purchase price, expense cost to prepare it for use, depreciation (not disposal cost).
The purchase price of the asset is the amount paid to acquire the asset, this can include taxes and any other charges. The expense cost to prepare it for use is the cost incurred to ready the asset for its intended use, for example, installing a machine in a factory. Depreciation is an accounting method used to allocate the cost of a tangible asset over its useful life, it is not an actual cash outflow but it needs to be considered in the cost of the asset. The disposal cost is the cost incurred to sell or dispose the asset, it is not considered as part of the cost of the asset.
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which of these would not be considered a typical specific public benefit purpose of a public benefit corporation?
A public advantage alliance made by an administration, otherwise called a legal enterprise or government-possessed guild, by and large offers free or sponsored types of help or benefits for the general population.
One of the motivations behind an advantage organization is to make the overall population benefit as estimated by a free outsider norm. The organization may likewise choose to make explicit public advantages. The production of public advantage is characterized as being to the greatest advantage of the organization.
"Explicit advantage organization" signifies a public advantage partnership that states in its articles a particular public advantage reason it chooses for sought-after, however, does exclude a general advantage enterprise that states in its articles a particular public advantage reason it chooses for sought-after.
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-Microeconomics
Vincent Price makes dining tables, and he is trying to decide how many tables to produce. He can sell each dining table for $3,500. The cost of the first table is $2,000, for the second it's $2,500. For each additional table he produces, the marginal cost of each table increases by $500. How many dining tables should Vincent produce, and what is the total cost of his production?
The number of dining tables that Vincent should produce is
Total cost of production would be $ 24, 500
How to find the number of tables to produce ?The number of dinning tables that Vincent should produce should be the amount that would make the selling price of the table and the marginal cost equal.
This point is:
= Selling cost of table / Marginal cost
= 3, 500 / 500
= 7 tables
The total cost at this point would be:
= 2, 000 + 2500 + 3, 000 + 3,500 + 4,000 + 4,500 + 5,000
= $ 24, 500
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When an exterminator is hired to rid a home of termites and fails to do so, extensive damage is done by the insects to the home's deck. The exterminator is required to pay for the necessary repairs.
This is an example of which type of monetary award?
a.) Consequential damages
b.) Nominal damages
c.) Punitive damages
d.) Incidental damages
The exterminator is required to pay for the necessary repairs. This is an example of a consequential damages type of monetary award. So option a. is the correct option.
Consequential damages, otherwise comprehended as civil damages, are damages resulting from the negligence of one party to honor a contractual agreement. The consequential damages description is about consequential damages normally resulting from a violation of contract issues. Consequential damages strive in civil courts over issues of breach of contract. Consequential damages comprise losses that result from arbitrary or indirect losses that result from incidental or indirect outcomes of breach of contract.
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which of the following developments from the 1800s emerged from ideas most similar to those expressed in the excerpt?
The development that emerged from ideas most similar to those expressed in the excerpt is the rise of the socialist movement.
The socialist movement, which emerged in the 1800s, was heavily influenced by the ideas of Karl Marx and Friedrich Engels. They advocated for the establishment of a socialist society in which the means of production are owned and controlled by the working class. This idea is closely related to the excerpt's statement that "the government should be responsible for ensuring that all have what they need to live a good life."
Furthermore, socialism also advocates for the elimination of social classes and the redistribution of wealth, which aligns with the excerpt's call for a society where "all have equal opportunity" and where "all have an equal chance to succeed."
Additionally, socialist movements also emphasized the collective ownership of property and public services that could be shared by all citizens as a means of ensuring that everyone has access to the resources they need to live a decent life. This is closely related to the excerpt's statement that "everyone should have what they need to live a good life."
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one of the key requirements in offering a dpp to a customer is that the program must be suitable. finra has some specific suitability requirements for dpps. among those is the investor
Investors can gain access to the cash flow and tax advantages of a business venture through a direct participation program (DPP), a pooled entity.
What services do DPPs offer?Investors can gain access to the cash flow and tax advantages of a business venture through a direct participation program (DPP), a pooled entity. DPPs, also referred to as "direct participation plans," are non-traded pooled investments in real estate or energy-related businesses over a long period of time.Understanding that age is an important factor in establishing appropriateness with DPPs is key in this situation. Investments in DPPs are lengthy, risky, and illiquid.Typically, only "accredited investors" are permitted to invest in DPPs. In addition to other requirements, accredited investors must have a net worth of at least $1 million or a salary of more than $200,000 for the two years preceding to investing. Check out SEC Rule 501 for a detailed explanation of an accredited investor.To learn more about direct participation program (DPP) refer to:
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identify the competeing roles society places on law enforcment officers and how that can influence behavior ?
Determine the conflicting obligations society sets on law enforcement officials; these obligations might affect how they behave as either public servants or crime fighters.
Law enforcement refers to the organisations and personnel in charge of upholding the rule of law, controlling public safety, and enforcing laws. Investigation, capture, and imprisonment of suspects in crimes are among the main responsibilities of law enforcement. Local, state, and federal law enforcement organisations often fall into one of three categories. Police and sheriff departments are examples of local law enforcement organisations. The state or highway patrol is one example of a state agency. The FBI and the US Secret Service are examples of federal agencies. Communities are to be safeguarded, people are to be held accountable, and justice is to be upheld.
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when crafting an email, which element uses clear, actionable language, and is no more than 45 characters in length
When crafting an email subject line element uses clear, actionable language, and is no more than 45 characters in length.
Option C is correct.
What is an email's subject line?The single line of text that recipients see when they receive your email is the subject line. Make sure your email is optimized for your audience because this one line of text frequently determines whether it is opened or discarded.
Which is a decent subject line ?Keep your subject line to no more than five to seven words, or 40 characters, to avoid being cut off. Your readers want to quickly look through their email. Subject lines with just a few words can sometimes stand out and get the most attention.
Question incomplete:When crafting an email, which element uses clear, actionable language, and is no more than 45 characters in length?
A. Salutation
B. Message body
C. Subject line
D. Signature
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if two countries are economically identical except that citizens in one country have more leisure time, then the level of gdp
If two nations are equal except for the fact that inhabitants in one country have greater leisure time, the GDP level in both countries will be the same. GDP in real terms.
People want to know if an economy's overall production of goods and services is increasing or decreasing. However, because GDP is gathered at current, or nominal, values, it is impossible to compare two eras without accounting for inflation. two countries are economically identical except that citizens in one country have more leisure time, then the level of gdp GDP in real terms. People want to know if an economy's overall production of goods and services is increasing or decreasing. However, because GDP is gathered at current, or nominal, values, it is impossible to compare two eras without accounting for inflation. nations are equal except for the fact that inhabitants in one country have greater leisure time, the GDP level in both countries will be the same. GDP in real terms.
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Your savings account pays 3 percent per year.Each $100 in the bank grows to $103 over a 1 year period.If prices increase by 1 percent per year,by keeping $100 in the bank for a uear you actually gain $_______.
Your savings account pays 3 percent per year. Each $100 in the bank grows to $103 over a 1 year period. If prices increase by 1 percent per year, by keeping $100 in the bank for a year you actually gain $2.
How to find the amount gained ?The amount gained can be found by the formula :
= Amount the savings grew to - increase in prices
Amount savings grew to = $ 103
Increase in prices = $101
The amount gained is:
= 103 - 101
= $ 2
Your savings account gained $ 2.
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saturday morning, peter woke up to the sounds of hammering outside his window. he peeked out to see his friendly neighborhood real estate agent pounding a for sale sign into peter's yard. peter then recalled encountering the agent at a block party the night before, during which peter seemed receptive to the idea of having the agent list his home. no agency agreements were signed. what can you say about the agent's behavior? the agent's actions were appropriate but, absent a written contract, peter cannot be compelled to compensate the agent if the house sells. the act of placing a sign in peter's yard without a signed contract in place is grounds for suspension or revocation of license. the agent's actions were appropriate as the conversation between the agent and peter the night before constituted oral express agency. placing a sign in peter's yard was ill-advised but does not rise to the level of behavior that could result in suspension or revocation of license. submit answer
Placing a sign in Peter's yard without a signed contract is grounds for licence suspension or revocation.
A contract is an agreement that specifies precise, legally enforceable rights and obligations for two or more parties that have reached an agreement. A contract often involves the transfer of goods, services, or money, or the promise to transfer any of these items at a later date.
In the event of a contract violation, the aggrieved party may seek legal remedies such as damages or contract revocation. The principle that agreements must be upheld is the cornerstone of contract law, which is the domain of the law of obligations related to contracts.
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assume you are heidi ganahl, ceo and founder of camp bow wow, and you are intending to expand your brand to new global locations. if you are expanding into a country that values autonomous leadership, which of the following behaviors is most in line with that perspective? you provide compassionate support when an employee is having difficulty with family issues. you improve safety in the work environment. you involve all employees in all decisions, ensuring that everyone participates in the decision making process. you allow employees to independently implement action plans without the need for approval.
One will provide compassionate support when an employee is having difficulty with family.
Employment is a two-person partnership that oversees the supply of paid employment services. One of the parties, the employer, which can be a corporation, a charity, a cooperative, or any other type of organization, pays the other party, the employee, in accordance with the terms of the contract in exchange for executing the task allocated to them.
Employees labor for pay, which can be in the form of hourly wages, piece rates, or yearly earnings, depending on the nature of the job performed, industry circumstances, and the parties' negotiating strength.
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The topics of forecasting, inventory management and resource planning is associated with which part of supply chain and operations management?A) process strategy and analysis B) managing customer demand C) designing logistics networks D) statistical process control
The topics of forecasting, inventory management and resource planning is associated with managing customer demand of the supply chain and operations management, which means option B is the right answer.
Supply chain and operation management is the process of optimization of product from its creation till its delivery which will include its sourcing, storage and transportation. The supply chain covers all the economic, social and environmental aspects also. The demand management ensures the supply chain to turn its focus towards customers' needs while maintaining profit margins. Managing customer demand helps in understanding the present needs of the customer and thus optimization can be resourced in a meaningful direction so as to achieve operational excellence.
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Companies (should or should not) make tax adjustments when calculating the (after-tax) cost of preferred stock because preferred dividends tax _____deductible, so the company bears their full cost. Based on this information, what is Purple Lemon Fruit Company's cost of preferred stock capital? A) 5.14% B) 4.63% C) 4.88% D) 5.40%
Because preferred dividends are not tax deductible, companies should not make tax adjustments when estimating the after-tax cost of preferred shares.
Based on this information, 4.63% is Purple Lemon Fruit Company's cost of preferred stock capital. Preferred stock (also known as preferred shares, preference shares, or simply preferreds) is a type of share capital that can include any combination of attributes not found in common stock, such as the characteristics of both an equity and a debt instrument, and is thus considered a hybrid instrument.
According to its corporate charter, capital stock is the number of common and preferred shares that a corporation is entitled to issue. Capital stock is the maximum number of shares that can ever be outstanding and can only be issued by the company.
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Creative blocking tends to occur when people in the agency start "thinking like the client," especially if the client is a fact-based thinker. True or false?
When agency staff members begin to "think like the client," especially if the client is a fact-based thinker, creative block usually results. It is real.
What is the fundamental building block for the creative pyramid?lines. For a marketing or advertising campaign, a creative brief is a document that describes the creative strategy and deliverables. A bold, original idea is how it is described. When you notice something of value, show it. Value Mindset is the fourth and final basic mindset in product management. With the value mindset, we aim to provide value to every action, each question we answer, each piece of work we produce, and pretty much everything else.
Simply said, we ought to avoid engaging in activities that don't add value. Providing a conceptual framework for crafting a story from beginning to end, Freytag's Pyramid outlines the five essential stages of a story. They are as follows: Exposition. Steady Action What costs can be incurred and how the product is designed are determined by the desired value and price.
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If the government eliminates an effective minimum wage in a competitive labor market, which of the following is true? A Minimum wage workers will experience no change in hourly pay. B Minimum wage workers will experience a decrease in hourly pay. (C) The number of people employed will decrease because people do not want to work for low wages. D There will be an excess demand for workers. E There will be an increase in the supply of workers.
The correct answer is B- Minimum wage workers will experience a decrease in hourly pay.
When a minimum wage is eliminated in a competitive labor market, the wages of workers who previously earned the minimum wage will decrease.
This is because employers will no longer be required to pay a certain amount per hour and can instead offer lower wages to attract workers. This will result in a decrease in wages for minimum wage workers, as they will be willing to accept less money in exchange for their labor.
Furthermore, the number of people employed in the labor market will decrease as employers will be less likely to hire workers at low wages. Additionally, there will be an increase in the supply of workers as more people will be willing to work for lower wages than before.
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___________ are a way for a business to raise capital through federally registered and underwritten sales of shares in the company.a. Venture capital funds b. IPOsc. Skunkworksd. Bootleggings
Out of the choices that have been given above, it can be stated to conclude that the IPOs are a way for a business to raise capital through federally registered and underwritten sales of shares in the company. Therefore, the option B holds true.
The IPO, or an Initial Public Offer, can be generally interpreted as the process of offering the shares of a company to the public for subscribing at an offer price having a particular lot size. The IPOs are offered on exchanges and are beneficial for the listing of a company's stock on the securities exchange.
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Econometric studies show a hump-shaped relationship between income levels and pollution levels. Which of these statements reflects that relationship?
A) As an economy grows and income levels rise, initially pollution levels also rise.
B) Decreasing income levels lead to an increase in pollution levels.
C) As an economy grows, pollution levels show a constant increase.
D) Economies that are in turmoil reflect pollution levels that are diminishing.
E) Income levels do not have any correlation with pollution levels.
Is reflective of the relationship Initial increases in pollution levels coincide with economic growth and income levels.
Explain about the pollution levels?Despite increases in airborne levels of particles, carbon monoxide, and fire-related pollutants, national average air quality concentrations remain below the established national criteria.
The Air Quality Index, or AQI, is used to assess the quality of the air. The AQI functions somewhat like a thermometer with a range of 0 to 500 degrees. The AQI, on the other hand, is a technique of displaying variations in the amount of pollution in the air rather than temperature changes.
AQI values between 0 and 50 are considered "good." Air pollution poses little to no risk, and the quality of the air is regarded as adequate. AQI 51–100 is considered to be "moderate." The quality of the air is satisfactory, however a very tiny number of people may have a moderate health concern from some pollutants.
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Which of the following are components of the compensation package for production workers at your company's plants?Base wages, incentive payments per non defective pair produced, and overtime pay.
Option d: Base wages, incentive payments per non defective pair produced, and overtime pay.
A compensation package is a summary of all the ways a company pays its employees, directly or indirectly.
A compensation plan, also known as a gross compensation statement, details how an employer will pay an employee and the non-monetary benefits that the employee provides.
There may be a standard compensation plan that applies to all employees, tiered compensation offerings, or separate plans based on each position.
A balanced compensation package can incentivize you to work for a particular employer and to dedicate yourself to your work.
Components of Employee Compensation – Basic Pay Structure, Variable Compensation Programs, Benefits, Awards and Recognition
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Which of the following are components of the compensation package for production workers at your company's plants?
a. Annual base salary, teamwork bonuses, fringe benefits, and stock options
b. Weekly salary, fringe benefits, year-end bonuses tied to the number of non-defective pairs produced, and overtime pay
c. Hourly wages, fringe benefits, and overtime pay
d. Base wages, incentive payments per non defective pair produced, and overtime pay
e. Annual base pay, piecework incentives per pair produced, perfect attendance bonuses at best practices training programs, stock options, fringe benefits, and overtime pay
A restaurant buys fish to offer as a daily menu special. The purchase of the fish by the restaurant is
A. an investment.
B. a consumption expenditure.
C. part of net exports if the fish was caught beyond the U.S. border.
D. an intermediate good.
E. an example of government expenditures on goods and services.
A restaurant buys fish to offer as a daily menu special. The purchase of the fish by the restaurant is (D) an Intermediate Good.
Intermediate Good:
Intermediates Goods are final products or products used in the manufacture of final products, also known as consumer goods. Intermediate products like salt can also be final products, as they are consumed directly by consumers and used by producers to make other food products.
Intermediates are sold between industries for resale or to produce other commodities. These goods are also called semi-finished products because they are used as inputs to become part of the final product.
Intermediates are also known as capital goods because they are essential to the production process. The industry sells these commodities to each other for resale or manufacturing of other commodities. They are transferred to another state when used in the production process.
There are generally three options for using intermediates. Manufacturers can make and use their own intermediates. Producers can also produce goods and then sell them. This is a very common practice across industries. Companies purchase intermediates for specific uses in the manufacture of secondary intermediates or in the manufacture of final products. Inevitably, all intermediate products either become part of the final product or are completely reconstituted during the production process.
Imagine a farmer growing wheat. The farmer sells his crop to the miller for his $100, giving the farmer his $100 value. Miller grinds wheat into flour - secondary intermediate product.
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