Short-run effects of a shift are the immediate or near-term changes that take place in the economy. Long-run effects of a shift refer to the gradual, cumulative, and indirect impacts of a change.
What do you mean by economy?
Economy is the system of production, distribution, exchange, and consumption of goods and services in a society. It is usually studied in terms of production, consumption, distribution, and exchange of goods and services in a given geographical area. It is also used to refer to the financial resources of a nation or region, including income, savings, and investment.
Part 1) The Surgeon General’s report will cause consumers to demand: b) less tuna at every price.
Part 2) In the short run, firms will respond by: d) exiting the industry
Shift the demand curve, the supply curve, or both on the following diagram to illustrate these short-run effects of the Surgeon General’s report.
The demand curve shifts to the left to illustrate the decrease in demand due to the Surgeon General’s report.
Part 3) In the long run, some firms will respond by: c) entering the industry
until: b) each firm in the industry is once again earning zero profit
Part 4) The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is: a) upward sloping.
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rex purchased an investment property with the intention of renting it out. to finance it, he set up a partially amortized loan with a balloon payment. what risk could this pose for him as the borrower?
Rex may not have enough money for the larger balloon payment if renter income does not increase the value of his property.
How Does a Balloon Payment Work?A large payment due at the end of a balloon loan is called a balloon payment. During the loan term, this kind of loan is designed to have lower initial payments and higher subsequent payments, often just the final one. A mortgage, commercial loan, or any other amortized loan can fall under this category. It is thought to be comparable to a bullet repayment.
The term "balloon" denotes an extremely substantial final payment. Typically, balloon payments are at least twice as much as the previous payments on the loan.
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in the context of supply chain partners, which of the following should operations managers do during the aggregate planning stage? multiple choice question. they should consult supply chain partners only if new goods or services are involved. they need not take supply chain partners into account at this stage. they should consult supply chain partners irrespective of whether any changes are planned. they should discuss quality concerns with supply chain partners.
In supply chain management, aggregate planning is a key decision model that describes how to determine the medium-term levels of production, inventory, capacity, and labor usage.
What are the overall operational planning parameters?The aggregate planner's main objective is to establish each of the following operational parameters across the specified time horizon: The quantity produced in a specific period of time is referred to as the production rate (such as per week or per month) Total employees or labor capacity units are the term used to describe the required labor force.
What part does supply planning play in the entire planning process?Aggregate planning is necessary for a corporation to be able to plan production, allocate resources, and adjust staffing. With its assistance, businesses can reduce costs while keeping output constant.
What are the primary goals of collective planning?Aggregate planning aims to reduce operational expenses by matching production capacity with demand. An aggregate plan details what supplies and other resources are required, as well as when they should be bought in order to keep costs down.
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buying a car math quiz question 1 of 10: based on your schedule, having a car will cut your transportation costs enough to squeeze in a 4 hour shift each weeknight at the fast food store paying $9 per hour. you estimate that the car will cost you $100 per week to own and operate. your take-home pay will be 70% of your gross pay. is it worth it to get the car?
A yes. buying a car math quiz question 1 of 10: based on your schedule, having a car will cut your transportation costs enough to squeeze in a 4 hour shift each weeknight at the fast food store.
paying $9 per hour. you estimate that the car will costs you $100 per week to own and operate. your take-home pay will be 70% of your gross pay. is it worth it to get the car A cost is the worth of money that has been used up to create something or supply a service and is thus no longer accessible for use in production, research, retail, or accounting. In business, the cost might be one of acquisition, in which case the money spent to obtain it is recognized as cost. In this situation, money is the input that is used to purchase the item. This acquisition cost might be the total of the original producer's production expenses and the acquirer's additional transaction costs over and above the amount paid to the producer. Typically, the price includes a profit margin above the cost of manufacture.
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Which of the following differs between aggregate planning in services and aggregate planning in manufacturing? A. uncertainty in demand B. costs of storing inventory C. the perishability of capacity D. cost of overtime E. cost of hiring
The aggregate planning in services and aggregate planning in manufacturing is the perishability of capacity.
What is meant by capacity?The term "capacity" refers to the aptitude for using and comprehending data in order to make decisions and convey those decisions. When a person's capacity is compromised, they are unable to make decisions at that moment due to mental illness or other mental disturbances. The quantity of work that a business can complete in a specific length of time is known as its capacity. The amount of employees or resources needed to finish a project within a given time frame is how it is measured. It implies that I can now manage situations that I was before unable to. The future you will be a different person if you intentionally choose to increase your capacity. You'll be able to gauge your personal development by looking back.To learn more about capacity refer to:
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1. contrast leadership for quality and lean six sigma as quality initiatives for xerox. how did their motivations differ? what differences or similarities are evident in the principles behind these initiatives and the way in which they were implemented?
For the organization to perform better and stop losing money, it was believed that Leadership through Quality was the secret ingredient.
What is Leadership?A individual, group, or organization's capacity to "lead," persuade, or guide others includes both the leadership research area and the real leadership talent. In American academic institutions, the definition of leadership is "a process of social influence in which a person can enlist the cooperation and support of others in the achievement of a common and ethical task." Leadership may be summed up as a strong relationship where one party's influence (the "leader") motivates others to act or change (the "followers"). Some now accept the complex nature of leadership that can be found in both formal and informal roles at all levels of institutions, challenging the more traditional managerial views of leadership.
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carlos naturals makes bulk quantities of cleaning fluids. the company currently sells 1,000 containers a month at a price of $22 per unit. the addition of a new disinfectant can fetch them $25 per unit for the improved product. it would cost them a total of $3,800 per month to make that alteration. what would be the effect on operating income?
It would decline by $800 would be the effect on operating income at company currently sells of 1,000 containers a month at a price of $22 per unit.
After subtracting operational costs like labour, depreciation, and the cost of goods sold, operating income is an accounting metric that reflects the amount of profit made from a business's operations (COGS). Operating income, also known as income from operations, is calculated by taking a company's gross income, which is equal to total sales less COGS, and deducting all operating costs from it. The expenditures a company incurs for its regular operations, such as buying office supplies and paying the bills, are known as operating expenses. A measure of a company's operating income takes into account its business operations to determine how much of its sales will ultimately turn into profits. It is a way to gauge a company's financial performance by focusing simply on its day-to-day operations.
the complete question is:
Carlos Naturals makes bulk quantities of cleaning fluids. The company currently sells 1,000 containers a month at a price of $22 per unit. The addition of a new disinfectant can fetch them $25 per unit for the improved product. It would cost them a total of $3,800 per month to make that alteration. What would be the effect on operating income?
it would increase by $400.
It would decline by $800.
It would increase by $3,000.
It would decline by $1,200.
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most customers who experience an environment that is both pleasant and arousing will interpret it as an exciting environment. question 2 options: true false
It is likely to be appropriate that most customers interpret an exciting environment when those who experience an environment that is both pleasing and arousing at the same time. As a result, the statement given above can be stated as the one that holds true.
An organizational environment is always determined by a number of formidable forces, and it is completely appropriate to mention that the customers are the ones who take care of the environment that they are present in. Customers are likely more satisfied when the environment is pleasing and arousing.
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if a firm's current revenues are less than its current variable costs, when should it shut down? if the firm decides to shut down, should we expect that decision to be final? explain using an example that is not in the book.
The business should cease operations as soon as its revenue is less than its average variable costs. This means that the company must stop producing if it cannot make at least enough money to cover its average variable costs.
What are current revenues?Current Revenues are those that the Purchaser both receives and uses to pay the Purchase Price under this Agreement within a six-month time frame. According to the definition, revenue is the total sum of money obtained through conducting commercial activities like sales. It is sometimes referred to as sales on the income statement. It is known as the top line since it appears first on any company's income statement.As soon as the company's revenue is less than its average variable costs, it should cease operations at that level. Accordingly, the company must stop producing if it cannot make at least enough money to pay its average variable costs.To learn more about current revenues refer to:
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which of the following best describes a business stakeholder? multiple choice only the minority shareholders in a business entity anyone who audits a firm only those who have acquired significant shares in a firm anyone who affects or is affected by decisions made within a firm
A business stakeholder is somebody who influences or is influenced by choices made inside a company. Hence, the correct answer is anyone who affects or is affected by decisions made within a firm.
What exactly is a business stakeholder?A stakeholder is someone who belongs to one of the "groups without whose support the organization would cease to exist," according to the Stanford Research Institute's first internal communication in 1963. It is generally acknowledged in business practice and corporate governance, corporate purpose, and corporate social responsibility. The classification of stakeholders to consider when defining corporate duties has been criticized for creating a false dichotomy between the "shareholder model" and the "stakeholders model," or for making a misleading comparison of obligations to shareholders and other interested parties.
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if the production of computers increases from point q to point r, what is the opportunity cost in thousands of cars?
Computer production is increased from point A to point B.
What does the term "opportunity cost" mean?Opportunity cost is the value of other commodities or services you must forgo in order to get your desired item. The term "cost" as used by economists often refers to opportunity cost. Using the term "cost" in everyday discourse or the news is prevalent.In the US, the quantity of grain one worker cannot produce equals the potential cost of one automobile. A US worker can only generate 4 vehicles or 10 tonnes of grain annually, therefore if she makes one additional car, she will only be able to produce 10/4 or 2.5 tonnes of grain.To learn more about opportunity cost refer to:
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One fact about all currency is that itA. loses value over time.B. has a changing value.C. maintains a stable value.D. grows increasingly valuable.
One fact about all currency is that A. loses value over time. (This is known as inflation)
Value refers to the worth or usefulness of something. It can refer to financial value, such as the monetary worth of an object or investment, or it can refer to intrinsic value, such as the personal or societal value of an idea or principle. In business, value is often used to refer to the perceived benefit that a customer will receive from a product or service in relation to its cost. Additionally, value can refer to the degree of importance or usefulness that something holds.
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the owner of a store that sells custom kitchen cabinets wishes to use a target return-on-sales pricing approach to establish a price for a typical section of cabinets. assume that variable costs total $200 per unit, fixed cost is $44,000, and the storeowner desires a target profit of 20 percent return on sales at an annual volume of 400 cabinets. what price should be charged for a typical cabinet section?
The price for a typical cabinet section should be $440. This can be calculated by taking the total costs (variable costs + fixed costs) of $44,200 and dividing it by 400 units, which results in a cost-per-unit of $110. Then, to reach the desired target profit 20% return on sales, the total cost must be multiplied by 1.2, which gives us a price of $440 per cabinet section.
What is target return-on-sales pricing?Target return-on-sales pricing is a pricing method that involves setting prices based on a desired target profit, expressed as a percentage of sales revenue. This approach is used to ensure that a certain level of profit is achieved, while allowing for the flexibility to adjust prices according to market conditions.
What is the difference between variable costs and fixed costs?Variable costs are costs that fluctuate with production and sales levels, while fixed costs are costs that remain constant regardless of production and sales levels. Variable costs include items such as raw materials, labor and shipping, while fixed costs include items such as rent and insurance.
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what describes a situation when poor risks are balanced with preferred risks, and average risks are in the middle?
The answer is Profitable distribution of exposures in Risk Distribution strategy
What is Risk distribution strategy?
The forecast of the probability distribution of market values is referred to as the "Distribution of Exposures" and is created by putting predicted instances of negative net market values equal to zero.
When undesirable risks are counterbalanced by desirable risks, with "average" or "standard" risks in the middle, a lucrative distribution of exposures (or spread of risk) results. This risk distribution strategy is intended to shield the insurer from unfavourable selection. One of the fundamental tenets of insurance is this.
The term "risk distribution," which is used in discussions about tax deductibility, requires that sufficient independent risks from unrelated parties be pooled to invoke the actuarial law of large numbers.
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who is meant to complete the resale certificate for property subject to mandatory membership in a property owners' association?
The resale certificate for property subject to required membership in a property owners' association must be completed by a representative of the property owners' association.
A HOA resale certificate provides a financial summary of the HOA, as well as the seller's current status with the organisation. The resale certificate contains detailed information on the property being sold and its status with the HOA, including a list of any past-due fees or unpaid fines, any pending violations, and any closing-day expenses. The document will also contain details about the association as a whole, such as any ongoing legal proceedings, the amount of money the HOA has set aside for reserves, and any expenses anticipated for the upcoming year. Other state-specific information could also be included in the resale certificate.
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which are true concerning product costs? multiple select question. product costs contain selling expenses. product costs contain both fixed and variable costs. product costs are reported as administrative expenses. product costs are reported as costs of goods sold.
Costs associated with producing a good or service that will be sold are referred to as product costs. Period costs are the collective term for all additional indirect costs incurred during manufacturing. Costs associated with sales and marketing as well as overhead are typical examples of period costs.
The expenses incurred to produce a good that will be sold to a client are known as product costs. Cost of the goods consists of: Raw materials known as "direct materials" are bought and used directly away in the production process. For instance, the metal required to build the car can represent the direct material cost for a car manufacturer.
Why does product price matter?Understanding product costs is crucial to their business as a result since they must keep costs under control in order to make a profit. Many sales decisions need to take cost into account. There are occasions when a sales opportunity is provided to you where the additional expenses and income for just that one transaction matter.
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Michael porter posits that implementing sustainable management helps companies establish a long-lasting competitive advantage that results from sustainably managing a firm’s impact on the people, planet, and profit.a. Trueb. False
It is true that Michael porter posits that implementing sustainable management helps companies establish a long-lasting competitive advantage that results from sustainably managing a firmá€'s impact on the people, planet, and profit. The correct option is a.
What is sustainable management?Sustainable management takes the concepts from sustainability and synthesizes them with the concepts of management. Sustainability has three branches: the environment, the needs of present and future generations, and the economy. Using these branches, creates the ability for a system to thrive by maintaining economic viability and also nourishing the needs of the present and future generations by limiting resource depletion.
From this definition, sustainable management has been created to be defined as the application of sustainable practices in the categories of businesses, agriculture etc.
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suppose that a project management team is trying to set up a realistic schedule for the data gathering and proposal phases of a project. the team looks over the situation and lists the activities that need to be accomplished along with the dependencies (as detailed below). activity immediate predecessor expected duration a. conduct interviews none 3 days b. administer questionnaires none 4 days c. read company reports a,b 4 days d. analyze data flow c 8 days e. introduce prototype c 8 days f. observe reactions to prototype c 3 days g. perform cost/benefit analysis d,e 3 days h. prepare proposal f,g 2 days i. present proposal h 2 days what is the expected completion time of the project (in days)?
Consider the following details regarding a small project: Estimates of task duration immediate forefathers a 4 days nil b 5 days a
How is the duration of the task planned?
Understanding the planned activities that comprise the project, as well as the anticipated unit of time or length required to begin and conclude each individual activity, is the first step in determining a project's critical path and anticipated task duration. To sequence the scheduled activities, a network diagram that displays the planned order for completing the individual tasks, situations where the order necessitates a specific sequence, and times when one activity depends on another for the completion of a different task is frequently used. The longest chain of interdependent operations determines a project's critical path. The critical path represents a series of tasks that typically do not have any float. Alternatively, any delays in completing the key route tasks will cause the project to fail.
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T/F. A conventional job description provides managers with a more comprehensive picture of worker activities than a job requirement matrix, which fails to address how and why workers perform specific job activities.
A conventional job description provides managers with a more comprehensive picture of worker activities than a job requirement matrix, which fails to address how and why workers perform specific job activities.
The Statement is FALSE
Accountant, music copyist, clerk, auditor, bookkeeper, food checker, mortgage clerk, dry cleaner, building inspector, bibliographer, editorial assistant, title examiner, court clerk, ticket agent, receptionist, ticket taker, scheduler, cashier-checker, information clerk are some examples of conventional jobs.
Observing and/or interviewing job incumbents is a common practice in conventional job analysis programs to gather job-related data. the creation of essay-style job descriptions. The United States Employment Service has extensive expertise in assessing jobs, which forms the basis of most of the traditional methodology.
The typical office setting contains systematic tasks like dealing with data and figures, and it is highly ordered and structured. This type of setting is characterized by routine, stability, tradition, and clearly laid-out rules and guidelines.
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if the powershooter 1800 is marked up by $66.50, what is the cost (in $) and what is the percent markup based on cost?
If the powershooter 1800 is marked up by $66.50, then the Cost is $66.50 and Percent Markup is 100% .
What do you mean by powershooter?
Powershooter is an innovative digital camera designed for the professional photographer. It is the first camera to feature an intuitive digital control panel that gives the user the power to quickly and easily adjust settings, make adjustments and select functions in real time. It is equipped with a powerful 20 megapixel sensor, a high-resolution LCD display, a pop-up flash and a built-in Wi-Fi connection. It also includes a full array of advanced features, such as time-lapse photography, remote control of the camera, and an intuitive menu system. The Powershooter is designed to provide photographers with the ultimate power to capture amazing images with ease.
So, The required answers are $66.50 and 100% respectively.
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a tariff has the effect of: a. raising the price of the imported product. b. increasing the demand for the imported product. c. increasing the supply of the imported product. d. increasing the demand for the exported product.
The cost of imported items is raised by tariffs. Domestic consumers end up paying higher prices as a result of the fact that domestic firms are not compelled to lower their prices in response to increasing competition.
How Do Tariffs Affect Prices?By permitting businesses that would not survive in a more competitive market to continue operating, tariffs also lower efficiency.without a tariff, the results of global commerce. Domestic supply and demand are denoted in the graph by the letters DS and DD, respectively. P represents the world price, while P* represents the domestic price of the same item.Domestic consumers will buy Qw worth of goods at a reduced cost, but since the home country can only manufacture Qd worth of goods, it will have to import Qw-Qd worth of goods.A tariff or other measure that raises prices has the dual effects of raising prices and reducing the amount of imports. Price rises from P*, which is non-tariff, to P' in the following graph. Qd moves right as more domestic businesses are prepared to produce the good as a result of the rise in price. Qw is likewise shifted left by this. Imports are decreased overall, domestic output is enhanced, and consumer prices are raised.To Learn more About tariffs refer To:
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During which period was the economy in an expansion?A. 2000-2004 B. 2009-2013 C. 2004-2008 D. 2000-2012 E. 2005-2009
The period from 2005 to 2009 saw the economy expanding.
The social science of economics deals with the creation, exchange, and consumption of products and services. Economics is the study of how economies work as well as the behavior and interactions of economic actors. The study of microeconomics focuses on what are thought to be the fundamental components of the economy, such as the interactions that result from market and agent activity. Individual agents can represent a variety of clients, including homes, companies, buyers, and sellers. The study of the economy as a coexisting system of production, consumption, saving, and investment is known as macroeconomics. Additionally, it looks at the elements that have an impact on this system, including the use of labor, capital, and natural resources, currency inflation, economic expansion, and public policies.
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A few years ago the british government was considering retiring, or buying back from investors, some outstanding consols that had annual coupons of pound£6060. A consol is:
A consol a coupon bond that pays a fixed coupon rate and has a fixed maturity date.
The total income an investor might anticipate while owning a specific bond is known as the coupon rate. The calculation is done by dividing the total of the annual coupon payouts by the par value, and it is established at the time the bond is issued. A bond's yield to maturation and coupon rate are equal at the time of purchase. Not the issue price or sale price, but the bond's principal amount (or par value), is used to determine the coupon rate.
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suppose the civilian non-institutional population equals 150,000; there are 72,500 employed persons and 10,000 unemployed persons. how many people are not in the labor force?
150,000 people live outside of institutions as the civilian population; 72,500 people are employed, while 10,000 are unemployed. That leaves 67,500 people out of work.
How does labor force work?The total number of employed people and unemployed people looking for work is referred to as the labor force. Although Sofia did not have a job, the definition says that she was and is still a member of the labor force.
The labor force participation rate is then calculated as the labor force participation rate divided by the civilian population of working age. The fact that Sofia's employment status has changed does not change the labor force participation rate because she has never stopped working since she looked for a job.
Non-institutional civilian population (E + U): 150,000 x (72,500 x 10,000) = 67,500 .
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why is it is essential to take supply chain capabilities into account when doing aggregate planning? multiple select question. to make sure there are no transportation issues to make sure there are no timing issues to make sure there are no quality issues to make sure there are no quantity issues
When undertaking aggregate planning, it is critical to consider supply chain capabilities to ensure there are no quantity difficulties.
What exactly is aggregate planning?Aggregate planning is a consequence of intermediate-term planning. It is the process of planning the quantity and timing of output over a three-month to a one-year period. The physical facilities are expected to be fixed for the planned period within this range. Aggregate planning finds the optimal cost-cutting combination by matching production supply and demand over a medium time span.
An aggregate planning strategy's purpose is to maintain the production rate and workforce level.The Chase Strategy, as the name suggests, involves pursuing market demand.Hybrid Strategy is a third option is a combination of the previous two tactics.To learn more about aggregate planning, click
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suppose china financed a huge program of infrastructure spending by borrowing. how would this borrowing affect the u.s. balance of payments? explain.
An account of a nation's foreign dealings with the world as a whole is kept in the current bank balance of payments.
What two things make up infrastructure?The two kinds of infrastructure are both economic and social. Social Infrastructure I Infrastructure connected to electricity, transportation, and communication is classified as economic infrastructure, while social infrastructure includes those related to housing, health, and education.
What role does infrastructure play?Urban households have access to better-quality employment, healthcare, and educational opportunities because to infrastructure.Public transportation and clean energy help cut greenhouse gas emissions. Broadband connections, water systems, and energy generation and distribution all follow the same economic principles.
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human rights, freedom of speech, and the fundamentals of justice are examples of which of the following concepts? a. principles b. business ethics c. values d. emotional intelligence e. morals
(A) Principles include things like the fundamentals of justice, human rights, and freedom of speech.
What do we mean by Principles?A claim or value that acts as a guideline for thinking or acting is known as a principle.
It is required by law and must be followed, or at least that is the expectation.
It may be a desirable path of action or the inevitable outcome of anything, such as the observable natural laws or the system's design.
The principles of such a system are perceived by its users to be the fundamental features of the system or reflect the system's intended purpose, and their proper application would make it impossible for the system to function properly.
Therefore, (A) principles include things like the fundamentals of justice, human rights, and freedom of speech.
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what specific hr functions (recruiting, interviewing, training, and so on) can you identify mr. lemonis addressing on this show? make sure to give specific examples based on the show.
The focus of staffing is on choosing and recruiting the right talented employees for a company.
What are the different types of interviews?Individual and participant observations are the two different sorts of interview techniques. Personalized interviews: These interviews are performed one-on-one between the interrogator and the applicant. These interviews aid in a thorough evaluation of the candidate. This aids in making a candidate evaluation that is more accurate.
What is the primary objective of conducting interviews?An employer and you converse during the interview to exchange information. Your goal is to receive a job offer, while the employer's goal is to learn the following: What you can provide (your skills, abilities, basic knowledge). Your identity (your personality, character, interests).
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15. suppose your nominal income in 1995 was $24,000. suppose, too, that the consumer price index for 2012 was 2.5 and that the base year for this index was 1995. how much nominal income would you need in 2012 in order to match the spending power of your $24,000 in 1995?
CPI = (Current Period price of Basket )/(Base Period Price of Basket) * 100
2.5 = Nominal Income needed in 2012 / $24,000
Nominal income needed in 2012 = 2.5*24,000 = $ 60,000
What does nominal versus real income mean?Real income is the amount of money an organization or person earns after taking inflation into account. When referring to an individual's earnings after accounting for inflation, it is sometimes referred to as real wage. Earnings that are not adjusted for future changes in inflation rates are referred to as nominal income.
How is nominal income affected?The amount of the rise in the money growth rate is instantly adjusted in nominal income growth. The long-term inflation rate will increase in tandem with the greater growth rate of the money supply, assuming that the potential rate of output growth remains constant.
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on october 20 of the current year, grimm co. consigned 40 freezers to holden co. for sale at $1,000 each and paid $800 in transportation costs. on december 30, holden reported the sale of 10 freezers and remitted $8,500. the remittance was net of the agreed 15% commission. what amount should grimm recognize as consignment sales revenue for the current year?
Grimm should recognize $7,800 as consignment sales revenue for the current year.
Calculate the commission on the sale of the 10 freezers by multiplying the sale price of $1,000 per freezer by the commission rate of 15%. This results in a commission of $150 per freezer, or a total commission of $1,500.
Step 2: Subtract the commission from the amount remitted by Holden to calculate the consignment sales revenue. In this case, $8,500 - $1,500 = $7,000.
Step 3: Add the transportation costs of $800 to the consignment sales revenue of $7,000 to calculate the total consignment sales revenue for the current year. In this case, $7,000 + $800 = $7,800. This is the amount that Grimm should recognize as consignment sales revenue for the current year.
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you are the president of a large corporation which is in the business of manufacturing, among other things, chemical products used to eradicate termites. you have just reviewed a confidential report, prepared by one of your top scientists, questioning the effectiveness of the product and the claims your business has been making to homeowners, pesticide treatment firms, and the general public. you have heard rumors that a lawsuit will be filed shortly against your corporation claiming that this product is ineffective. who should you turn to for advice? should you destroy the report?
According to the condition, for turning the advice go with the attorney. Yes, the reports should destroy because they are confidential reports.
The inspection report that will be created for Client is strictly for Client's use and should not be relied on by anyone else.
The word "lawsuit" refers to a civil action filed by a plaintiff (a party who claims to have suffered damage as a result of a defendant's acts) seeking a legal or equitable remedy from a court. The defendant must answer to the plaintiff's suit or face default judgment.
Therefore, the condition requires that the advice be turned over to an attorney. Yes, because the reports are secret, they should be destroyed.
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