The following strengthens Vincent's belief Vincent is selling to existing customers.
Which of the following typically comes first in the sale of a product?Prospecting. Prospecting comes first in the sales process. During this phase, you locate potential clients and ascertain whether they require your good or service—and whether they can pay what you have to offer.
Which of the following typically occurs as the initial step in the sale of a product?Researching potential customers and selecting those who are most likely to buy is the first step in the selling process.
Which of the following describes the final stage of the marketing of a product typically?Terms included in this collection (48) Closing is the last stage of the sales process, during which the salesperson requests the customer's purchase commitment.
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The early economy of New France was driven by ______. Multiple choice question. Textile mills beaver pelts tobacco cotton
C)The early economy of New France was driven by beaver pelts.
The French fur trade was a major economic activity in New France during the 17th and 18th centuries. The beaver pelts were highly valued in Europe for their use in making fashionable hats, and the French established trading posts and alliances with indigenous peoples to secure a steady supply of beaver pelts.
This trade was a key source of income and wealth for the French colony and its people. Therefore the correct option is b which is beaver pelts. So, the early economy of New France was driven by beaver pelts.
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you decide to move into an apartment. which kind of insurance will provide protection for your personal property?
Homeowners and renters policies provide coverage for your belongings while your personal property is at your residence, but will not pay for any damage done to personal property while being handled by the movers- when packing or physically moving the items.
What is meant by Coverage ?
Businesses are shielded from financial harm by business insurance coverage from accidents that could happen on the job. There are many different kinds of insurance available for businesses, including protection against risks relating to employees, legal responsibility, and property damage.The majority of financial professionals advise purchasing life, health, vehicle, and long-term disability insurance.Area coverage refers to dependable and adequate service that will be or is being provided to all individuals within the affected area as previously described, according to reasonable and customary extension and service rules, rates, charges, and other terms and circumstances.the act or volume of covering a news event on television, in newspapers, etc.To learn more about Coverage refer to
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when businesses sell to other businesses online, these transactions are known as: select one: a. b2c transactions. b. e-wholesale transactions. c. b2b transactions. d. intermediate e-commerce transactions.
When businesses sell to other businesses online, these transactions are known as B2B transactions.
Electronic commerce (e-commerce) that is "business-to-business" (B2B) involves the exchange of goods, services, or data between enterprises as opposed to between businesses and customers (B2C). A business-to-business transaction takes place between two businesses, like as online merchants and distributors.
Business-to-business e - commerce, also known as B2B ecommerce, refers to the sale of products or services via online exchanges between companies. For wholesalers, producers, sellers, as well as other types of B2B sellers, purchasing accuracy and efficiency are increased since orders are executed electronically.
But with the pandemic serving as a driving force for change and more millennials joining the B2B market, customer expectations are growing more quickly than ever, and B2B businesses need to keep up.
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Larry has been scheduling fewer employees to work during the matinee hour at the movie theater he manages because it has been slow lately. He recognized a need to manage hisO idle production capacity.O a distinctive point of differenceO inconsistencyO intangibility.
Larry has been scheduling fewer employees to work. He recognized a need to manage his a)idle production capacity.
Idle capacity is the amount of capacity that remains in a business after productive and protective capacity have been deducted.
Productive capacity refers to the portion of a work center's total capacity required to process currently scheduled production, whereas protective capacity refers to the additional capacity held in reserve to ensure that a sufficient quantity of parts can be manufactured to adequately feed the bottleneck operation.
To some extent, protective capacity is a matter of opinion, as it can include a significant fraction of overall capacity if a corporation desires to keep adequate capacity to cover exceptionally big (and unusual) production surges.
Conversely, if management is willing to accept some downtime at its bottleneck operation, it may set protective capacity as a far lower priority. As a result, depending on management's plans for conducting the bottleneck operation, idle capacity could be nonexistent or fairly significant.
When deciding whether to sell off assets from a work center, only sell off those linked with idle capacity - selling off protective capacity jeopardizes a company's profit-making potential.
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true or false: audits can save a company money by enabling them to get lower interest rates on loans.
Audits can save a company money by enabling them to get lower interest rates on loans is True.
The interest rates is the amount of money or as interest on the particular portion of the amount lent or money which is borrowed. The total interest rate on an amount lent or borrowed depends upon the principal sum of the interest rate and frequency of the compounding.
To find the interest, it is calculated by the interest is equal to the into or multiplication of principal amount, interest rate and number of the time periods or usually one years time periods.
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lana is currently in the middle of a fair housing lawsuit. she has been ordered to leave her property vacant until the suit is over. what has the judge ordered?
The judge has ordered that Lana must leave her property vacant until the fair housing lawsuit is resolved. This means that she cannot inhabit the property or rent it out while the lawsuit is in progress.
This is done to ensure that she does not interfere with the legal process or attempt to influence its outcome.
A lawsuit is a civil legal action brought by one person or organisation (the plaintiff) against another (the defendant), with a court to decide the outcome. A court of law or a court of equity may hear the case, depending on the remedy sought and the location where the plaintiff brings the action.
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for the perfectly price-discriminating monopolist, its curve is the same as its curve. group of answer choices marginal revenue; marginal product of labor demand; marginal revenue demand; marginal cost average variable cost; average total cost marginal cost; average fixed cost
According to the question the correct answer is Marginal Revenue; Marginal Cost.
What is Marginal Revenue?Marginal Revenue is the amount of revenue a firm gains from selling one additional unit of a product or service. By dividing the change in total revenue by the change in quantity, it is calculated. Marginal Revenue is important for a business because it helps to determine the optimum level of production or sales to maximize profits. Marginal Revenue is negatively related to price, meaning that as the price of a product increases, the Marginal Revenue decreases. This is because, as the price of a product increases, the demand for it decreases. Therefore, when making pricing decisions, a business must consider both the Marginal Revenue and the Marginal Cost of the product in order to maximize profits.
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which of the following is not a condition of price discrimination? group of answer choices the seller must exercise some control over price. the seller must be a price searcher. the possibility of arbitrage must not exist. the seller must be able to distinguish among customers who would be willing to pay different prices. the seller must have zero fixed costs.
The correct option is D. The seller must have zero fixed costs is not a condition of price discrimination.
In accounting and economics, 'constant charges', additionally known as indirect fees or overhead expenses, are business costs that aren't dependent on the extent of goods or offerings produced by using the enterprise. They tend to be routine, which includes hobbies or rent being paid according to month. these charges additionally tend to be capital costs. this is in comparison to variable expenses, which are extent-associated (and are paid consistent with the amount produced) and unknown at the beginning of the accounting year. constant expenses have an impact on the character of positive variable charges.
For instance, a store must pay hire and utility bills irrespective of income. In some other instances, for a bakery the month-to-month hire and call line are fixed charges, irrespective of how tons of bread are produced and sold; however, the wages are variable prices, as extra employees would need to be employed for the manufacturing to increase.
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i started an auction at .99 and it was worth a lot more but it only got one bid for that .99 - can you cancel or stop the auction so you dont have to sell it at .99?
When no bidding takes place, a vendor bid is made by the auctioneer and this can be all that is required to set the wheels into motion. In a situation where there used to be some bidding, but the vendor's reserve charge was not reached, the public sale will pass by in.
Can you refuse sale at an auction?The auctioneer is no longer entitled to take delivery of any bids made via the seller or his agent if the client has no longer expressed his intent to do so. Any sale that is in contradiction to this rule will be deemed unlawful and fraudulent via the buyer. The items for sale at the public sale can also be concern to a reserve rate or an upset price.
What takes place if you cancel an public sale bid?If you just alternate your mind, you cannot retract your bid, however. This is what eBay calls an 'invalid bid retraction'. If you make an invalid bid retraction, the seller has the right to document you to eBay, which can then take in addition motion like suspending your account, if necessary.
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https://brainly.com/question/28203740#SPJ4in the book, we beat the streets, what was one strategy the three doctors had for surviving the dayton street projects?
Making a pact to stick together through the rough times in their impoverished Newark neighborhood, three boys found the strength and determination to work through their difficulties in order to complete high school, get through college, and attend medical school together.
What is we beat the streets?Rameck, George, and Sampson might have easily followed their childhood buddies into drug selling, gangs, and jail as they grew up on the tough streets of Newark, New Jersey. The three lads struck a deal among themselves that they would all become physicians after learning about prospects in the medical and dentistry fields at a presentation at their school. In spite of all the obstacles they faced along the way, the three were able to achieve with a lot of perseverance and support from one another. This younger version of the popular adult novel The Pact, which was retold with the aid of an award-winning author, is a hard-hitting, strong, and uplifting tale that will resonate to young readers all around the world.
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what document do sponsoring brokers and sponsored licensees use to define the terms of their working relationship
Each licensee must have a documented employment agreement with the sponsoring broker before being hired or working as an independent contractor for them.
What is the document that defines the relationship between the broker and the seller?In a listing agreement, the owner of the property gives the real estate broker permission to operate as the seller's agent and locate a buyer for the property. There are three different kinds of real estate listing contracts: open listing, exclusive agency listing, and exclusive right-to-sell listing.The brokerage that will "hire" you is referred to as the sponsoring broker in real estate. Because most commonly real estate agents work as independent contractors for their broker rather than as true employees, I use the word "employ" with caution and quotation marks.In accordance with a legal requirement, sellers must reveal information regarding the property's state that could be adverse to potential buyers.To learn more about licensee refer to:
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true/false. A deferred tax asset must be reduced by a valuation allowance if it is Probable that some portion will not be realized. Reasonably possible that some portion will not be realized. More likely than not that some portion will not be realized. Likely that some portion will not be realized.
Deferred tax assets must have a valuation allowance set up when it is more probable than not (at a probability threshold greater than 50%) that they won't be realized.
What does a deferred tax asset valuation allowance actually involve?A valuation allowance is the process through which an account of deferred tax assets is offset. Prior to conducting the analysis, one should consider the two-step recognition criterion for uncertain tax positions.
What justifies the need for a valuation allowance when determining a deferred tax asset's value?When an asset's value is inflated, the genuine future tax benefit that the company will experience must be represented by a reduction in the asset's value. A valuation allowance is the method used to reduce the deferred tax asset to the appropriate amount.
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an advertiser has seen a lot of success with search, and they'd like to increase their reach by creating a display campaign. they'd like the setup to be as effortless as possible. what kind of targeting should they use in their display campaign?
A marketer should select a smart display campaign if they wish to conduct a display campaign with ease.
What purpose does display advertising serve?Due to their captivating visual appearance, display advertising have the ability to greatly increase your brand recognition. To mention a few advantages, display marketing may improve brand consistency and exposure, nurture leads, measure performance, and assist the success with your other PPC activities.
How are display advertisements evaluated?You may determine the engagement rate of your campaign by reducing your targets by the entire number of impressions. You achieved a 2% engagement rate if your ad campaign resulted in 200 visits to your online Cost calculator for every 10,000 display impressions.
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The PPF slopes downward because Group of answer choices because the opportunity cost of production is constant we are using all our resources only if technology is not improving resources are scarce and therefore we must make trade-offs because we can produce more of one good without giving up production of the other good.
Because it shows the trade-off between two things, the PPF slope has a decreasing slope. Due to resource and technological constraints, if the economy wants to manufacture more units of good.
What determines a PPF's slope?The opportunity cost of producing one good as opposed to the other good is indicated by the slope of the PPF, and the opportunity cost can be compared to the opportunity costs of other producers to ascertain comparative advantage.
Things that alter an economy's output, like as technological advancements, resource changes, increases in education or training (this is what we refer to as "human capital"), and labour force changes, are what produce shifts in the production possibilities curve.
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accounting profit cash flow. multiple choice question. differs from is always larger than is identical to
Cash flow is different from accounting profit. So, the second choice would be the right response.
How does accounting profit work?The sum of money left over after all direct operational expenditures have been paid is known as the accounting profit.Explicit costs include labor costs, manufacturing inventory needs, raw material costs, production costs, sales costs, and marketing costs.In contrast to economic profit, accounting profit only takes into account the money that a company spends and earns.In underlying profit, which is different from accounting profit, the effects of nonrecurring items are also excluded.In their financial statements, businesses commonly use a variety of definitions of profit. Some of these summaries include each and every revenue and expense line item on the income statement. Others are creative interpretations created by management and their accountants.To learn more about Accounting profit visit:
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what does the right y-axis represent? what does the right y-axis represent? population, with size increasing from bottom to top resources, with quantity increasing from bottom to top time, with duration increasing from left to right resources, with quantity decreasing from bottom to top
The categories are represented by the horizontal (x) axis, and the values for those categories are shown by the vertical (y) axis. The figures in the graph below are percentages.
What are examples of values?
A person's or an organization's core values are the essential ideals and goals that guide their actions.
Core values can be compared to an internal compass of values that directs behavior in an individual or organization.
Finding your fundamental values and attempting to unlock the inner values of the significant individuals in your life are both worthwhile endeavors.
Having a clear sense of your personal beliefs can influence both who you are and what you do.
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you have been assigned to lead a project soon after it was selected by your organization's project management office. you have been asked to assist with the creation of the initiation documentation. the project sponsor has provided you with a completed business case, a project benefits management plan, access to the lessons learned knowledge base, and a signed contract. based on the information provided, which statement is true?
MAIN ANS
SUPPORTING ANSWER
The complete question is :
You have been assigned to lead a project soon after it was selected by your organization's project management office.The project sponsor has provided you with a completed business case and benefits management plan, in addition to your organization's historical information on a similar project. Which tool or technique are you going to use to assess this information?
LINL
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The project given by organization's project management office will be completed for an external customer.
Project management is the hypothesis of techniques, strategies, acquisitions, information and experience to achieve specific venture targets as indicated by the measures of task acknowledgment inside concurred constants.
Project the executives has eventual outcomes that are compelled to a limited timescale and financial plan.
The major standard of Undertaking The executives are viewed as widespread across most organizations and callings.
The essentials of Task The board incorporates: Undertaking enlistment, Venture programing, Venture executing, Observing and driving of the task, Obliging and shutting of undertaking. Project chiefs in different associations and organizations should follow the essentials to accomplish their go for the gold effectively.
Additionally, individuals from the task group should understand project the executives since they are expected to comprehend the venture scope proof that characterizes the targets and boundaries of the undertaking.
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The accounting records of Kingbird Electronics show the following data. Beginning inventory 2,000 units at $5 Purchases 8,000 units at $7 Sales 9,400 units at $10 O Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to 0 decimal places, e.g. 1,250.) O Determine cost of goods sold during the period under a periodic inventory system using the LIFO method. (Round answer to 0 decimal places, e.g. 1,250.) O Determine cost of goods sold during the period under a periodic inventory system using the average-cost method. (Round average-cost per unit to 3 decimal places, e.g. 12.502 and final answer to o decimal places, e.g. 1,250.)
Under a periodic inventory system using the FIFO method, the cost of goods sold would be calculated as follows:
Beginning inventory: 2,000 units x $5 = $10,000Purchases: 8,000 units x $7 = $56,000The total cost of goods available for sale: $10,000 + $56,000 = $66,000Cost of goods sold: $66,000 - (2,000 units x $5) = $66,000 - $10,000 = $56,000Under a periodic inventory system using the LIFO method, the cost of goods sold would be calculated as follows:
Purchases: 8,000 units x $7 = $56,000The total cost of goods available for sale: $56,000Cost of goods sold: $56,000 - (2,000 units x $5) = $56,000 - $10,000 = $46,000Under a periodic inventory system using the average-cost method, the cost of goods sold would be calculated as follows:
Beginning inventory: 2,000 units x $5 = $10,000Purchases: 8,000 units x $7 = $56,000The total cost of goods available for sale: $10,000 + $56,000 = $66,000Average cost per unit: $66,000 / 10,000 = $6.60Cost of goods sold: $6.60 x 9,400 = $62,440To know more about the periodic inventory system:
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Which of the following is an implication of the global monetary system for currency management? Speculative buying and selling of currencies create predictable movements in exchange rates. The foreign exchange market is efficient. Both short- and long-term exchange rate movements are easy to predict. The foreign exchange market is driven by a combination of government intervention and speculative activity. Exchange rate movements can be predicted by the purchasing power parity theory.
Speculation and government intervention both contribute to the foreign currency market's growth.
What do you mean when you say a worldwide monetary system for managing currencies?The operational system of the financial environment, which comprises of financial institutions, multinational enterprises, and investors, is referred to as the global monetary system.The managed fixed exchange rate, free float, managed float, and specie standard are the four main categories of currency management regimes. They differ in how they approach the problematic trifecta. There are four components to it: international reserves, international capital flows, international payments and transfers related to ongoing international transactions, and exchange agreements and exchange rates.
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which term refers to the overall indicator of how well an organization uses all of its resources such as labor, capital, materials, and energy to create all of its products and services?
Industrial productivity refers to the overall indicator of how well an organization uses all of its resources such as labor, capital, materials, and energy to create all of its products and services
Productivity is a metric for measuring economic or business performance that shows how effectively individuals, businesses, industries, and entire economies turn inputs like labor and capital into outputs like goods or services.The amount of goods and services produced (output) and the amount of inputs required to produce those goods and services are compared as a measure of economic performance known as productivity.The output to input ratio represents productivity. (For labor productivity, the input is just labor; for other productivity measures, the input is an index of combined inputs.To know more about Productivity here
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a product passes 96% percent of the functional requirements defined in the scope. a customer is unwilling to accept the product since it did not pass 100%. a project manager is assessing what could have been done differently to avoid this. what should the project manager have done?
In order to avoid the project manager ensured that the quality measures were stated.
What Exactly Is a Project Manager?A project manager is a professional who organizes, plans, and executes projects while adhering to deadlines and budgets. Project managers lead whole teams, create project goals, engage with stakeholders, and oversee the completion of a project. Whether executing a marketing campaign, building a building, establishing a computer system, or introducing a new product, the project manager is ultimately accountable for the project's success or failure.
Project managers are in high demand in almost every business. Let's go further into what project managers do, why you should seek a career in project management, and how to get started.
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A set of consumers having comparable purchasing concerns is referred to as a market segment. Therefore, option (b) can be seen as being right.
What exactly is a project manager?A project manager is a specialist who plans, organizes, and carries out projects while sticking to budgets and timelines. Project managers oversee the completion of a project, manage many teams, establish project objectives, and interact with stakeholders.
The project manager is ultimately responsible for the success or failure of the project, regardless of whether it is the implementation of a marketing campaign, the construction of a building, the setup of a computer system, or the introduction of a new product. Project managers are in high demand across practically all industries. The project manager made sure that quality measures were established in order to prevent this.
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Economic models are: ANSWER Unselected presentations of all possible outcomes under all real world circumstances
Answer:
to help determine the likelihood of an action or a policy providing a desired outcome.
Economics models are mathematical frameworks used to describe the links between economic variables, such as supply and demand, costs and revenues, and investment and return. Models are typically used to analyze potential pricing and production decisions of firms, to understand the factors driving growth in an economy and to analyze the impacts of different economic policies.
Broker Keller has a listing on Franklin Avenue. A buyer comes in to get information about the listing. Keller can discuss all of the following items EXCEPT which?O The seller's divorce
O Cleanup of an environmental mishap half a mile away
O A problem with the well
O Agency relationships
The concept here is Real-estate, it consists of land and improvements which include roads, buildings, fixtures, structures, and utility systems. The answer is option A, sellers divorce.
Real-estate is property consisting of land and buildings on it and its natural resources such as crops, minerals, or water; real estate of this type; Interest in this (also) property, (general) buildings or apartments in general.
In legal terms, property refers to ownership of land and is distinct from personal property, while property means "the interest" that a person has in that property of land. Property rights entitle ownership of land, improvements, and natural resources such as water, animals, plants, and other natural resources.
Real estate offers great career opportunities and is very rewarding. It opens up many job opportunities with attractive income, freedom, and plenty of time, making it a viable career option for years to come.
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Which economic system is better for society and why?
The finest economic system is capitalism since it offers people in society a wide range of advantages and chances.
Why capitalism is the best economic system?Because of its many advantages and chances it provides for people in society, capitalism is the best economic system. Creating income and innovation, enhancing people's quality of life, and granting the populace power are a few of these advantages.
Perhaps a market economic system fosters the most growth. The biggest drawback of a market economy is that it permits private entities, especially those who control valuable resource ownership, to gain significant economic power.
People are strongly motivated in capitalist markets to put in extra effort, become more efficient, and create top-quality goods. The market maximises economic progress and personal wealth while offering a range of goods and services for consumers by rewarding creativity and innovation.
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Suppose the government increases spending to fund tuition assistance for qualified college students. Which of the following is likely to result?A) Automatic stabilizers will increase the concretionary impact of the decrease in aggregate demand.B) Automatic stabilizers will decrease the contractionary impact of the increase in aggregate demandC) Automatic stabilizers will increase the expansionary impact of the increase in aggregate demandD) Automatic stabilizers will decrease the expansionary impact of the increase in aggregate demand
The concept given is Automatic stabilizers, which are any part of the government budget that offsets fluctuations in aggregate demand. The answer is option C.
Automatic stabilizers will amplify the expansionary effect of an increase in aggregate demand. Automatic stabilizers are features of the structure of modern government budgets, particularly income taxes and social spending, that help smooth out fluctuations in real GDP.
Automatic stabilizers are the type of fiscal policy favored by Keynesian economics as a tool to combat deteriorating economic conditions and recessions. Automatic stabilizers play a key role in recessions, particularly for low-income households, by increasing benefits or cutting taxes when incomes fall.
The automatic stabilizers were the result of previous legislation. They ensure that no further legislation is passed after implementation.
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kylar consumer products corp. recently came out with a new line of cosmetics for women called glitter. it released magazine ad campaigns for glitter in women's fashion magazines. what advantage does this type of advertising offer the company? multiple choice question.
This form of advertising benefits the company by helping it reach its target market.
How does the term "business" signify in actuality?A group of individuals can form a legal entity called a corporation to conduct and administer a commercial business, that may be commercial of industrial. For tax and current liability concerns, a corporation may very well be set up in any number of ways depending upon that corporate law of its jurisdiction.
What distinguishes businesses from companies?A company should be thought of as a collection of people conducting business. Even though a corporation could theoretically be run by a young individual, a firm is required to have many owners by definition.
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the latest taylor swift album is available to be downloaded for $12.99. is this price a rationing device?
Yes, because the album will only be purchased by people who are willing and able to pay $12.99.
Hard and soft rationing are the two types of capital rationing.Rationing of hard currency. Rationing imposed on a company by events beyond its control is referred to as hard capital rationing. ...Rationing of soft capital.Setting restrictions on the purchase of specific items in high demand was rationing. Each individual, including infants, received a certain number of "points" from the government that had to be exchanged for cash in order to be used to buy goods made with prohibited materials.Price serves as a rationing mechanism. When deciding how much to produce, producers consider the price that consumers are willing to pay for a product. Producers wouldn't know what they should be making if there were no prices.To know more about rationing here
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Audrey has assigned her lease to her college buddy, Skip. After two months, Skip vacates the premises and is never heard from again. Who could the landlord reasonably sue for non-payment of rent
The landlord could reasonably sue both Audrey and Skip for non-payment of rent.
What is assignment of lease?
Assignment of lease is a legal term that describes the process by which a tenant transfers their rights and responsibilities in accordance with a lease agreement to another party. The tenant is known as the assignor and the new tenant is known as the assignee. The assignor is responsible for transferring the lease to the assignee and ensuring that the assignee is aware of the terms and conditions of the lease as outlined in the original agreement.
The landlord can sue both Audrey and Skip for non-payment of rent because they are both legally responsible for the lease. The landlord can pursue both Audrey and Skip for the remaining rent owed under the lease agreement, regardless of who is currently living in the property. Even if Skip has vacated the premises, Audrey is still liable for the rent payments due to her original assignment of the lease to Skip.
Therefore, both Audrey and Skip is the answer.
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Surprise inflation can help people who have borrowed money. Click or tap "True" or "False" to answer the question. True False
It is true that surprise inflation can benefit borrowers.Surprise inflation: when inflation is not predicted, it is good.
How would you define surprise inflation?Unexpected events can boost demand for products and services beyond what can be supplied by producers, leading to unanticipated inflation, which causes prices to climb more quickly than anticipated.
Who stands to gain from unforeseen inflation?Unexpected inflation benefits borrowers since the amount they repay is less valuable than the amount they borrowed.The most common victims of inflation are lenders and savers. While people who borrowed money at lower fixed interest rates are trapped with less valuable loans until they mature, savers see their cash deposits lose some of their purchasing power.
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a) unemployment and the exchange rate. b) the trade balance and the exchange rate. c) the output growth rate and the inflation rate. d) the output growth rate and the real interest rate.
The answer is the price level, but not GDP as given.
Hence, Option B is correct.
The general price level is a fictitious indicator of average prices across a range of goods and services in an economy or monetary union over a specific time period, normalized in relation to a base set. A daily price index, typically the Daily CPI, is used to estimate the general level of prices in most cases.This price level for a basket of goods can be compared to a country's overall price index, which is made up of different goods and services. As an illustration, the consumer price index (CPI) in the United States serves as a benchmark price for a basket of goods.What about a price level, though? Using a price index, economists gauge the level of prices. A number whose movement represents a price index is.To know more about price level here
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The open-economy macroeconomic model takes
a. GDP, but not the price level as given.
b. the price level, but not GDP as given.
c. both the price level and GDP as given.
d. the price level and GDP as variables to be determined by the model.
