Answer:
CLASSICAL macroeconomists focused on the LONG-RUN effects of MONETARY policy on the aggregate price level, ignoring any SHORT-RUN effects on aggregate output.
Explanation:
Classical macroeconomists focused mostly on the long-run since they perceived the economy was self-adjusting. That means that they should only set a guideline for the economy, and the economy itself would adjust to fulfill that guideline.
For example, just because the Fed carries out an expansionary monetary policy by lowering interest rates, it doesn't mean that the economy will start to grow and unemployment will lower. Other adjustments are necessary, like a tax reduction or an increase in government spending.
Neoclassical macroeconomists focus on the effects of policy on the aggregate price level, often ignoring its short-term effects on output. They emphasize long-term impacts of decisions related to monetary and fiscal policy on inflation, rather than their short-term effects on GDP. This approach contrasts with the Keynesian framework.
Explanation:The question asks about macroeconomists who primarily focused on the effects of policy on the aggregate price level, disregarding its effects on aggregate output. These economists are typically aligned with the neoclassical framework for macroeconomic analysis. They emphasize the long-term effects of policy decisions, like those related to monetary policy and fiscal policy, on variables such as inflation, rather than their short-term effects on GDP.
For example, they may discuss how a government's decision to increase spending (an aspect of fiscal policy) could increase inflation if it leads to an increase in the aggregate demand beyond what the economy can sustainably supply, without focusing on how such spending could also stimulate economic output in the short term.
The neoclassical approach contrasts with the Keynesian framework. Keynesians, in analyzing policy effects, would not ignore the impact on GDP, and are more focused on short-term outcomes.
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Charlie has been in an automobile accident. No one was injured, but his car is pretty banged up. The damage to his car is estimated to be $2,500. His insurance will cover everything after he pays his $500 deductible. In the short term, Charlie's accident will end up costing him
Answer:
$500
Explanation:
An insurance deductible refers to a pre-defined amount of money that the policy holder must pay the insurance provider before they pay any expenses. Therefore after paying the $500 deductible the insurance provider in this scenario has agreed to cover all of the costs associated with this automobile accident. Thus Charlie's accident will only end up costing him $500.
Answer:
B. 500
Explanation:
A(n) __________ is anything that incites, rouses, or provokes (motivates) consumers to take an action, think, experience emotions, or respond in some other way.1. Incentive2. Need3. Motive4. Stimulus5. Want
Answer: Stimulus
Explanation:
In marketing, stimulus is anything that influences consumers to act in a particular desired way.
A stimulus could be in the form of price reduction, bonuses, free products given, spreading payment across a period etc.
The correct answer is 4. Stimulus.
Explanation
A stimulus is a term used to refer to the impact or influence that an action has on a system. For example, in the case of living beings, the stimulus is that which causes response or reaction from the body. This term is also used in the economic area to refer to an action that causes consumers to purchase a good or service, generally, the stimuli are discounts, promotions, consumer benefits, among others, that make the consumer consider that acquiring that service is either at a reasonable price and that it is going to allow you a greater benefit than what you would normally receive. For example, a stimulus can be the end of season discounts, which allow the buyer to be motivated to buy more products for a small discount.
Omega LLC is a limited liability company. The operating agreement for Omega is silent on the sharing of profits and losses. Omega has four members. Hess contributed $10,000, Ivan contributed $20,000, Johns contributed $30,000 and Kale contributed $40,000. For the year ending December 31, Year 3, Omega had losses of $200,000. What amount of the losses should be allocated to Ivan
Answer:
Since Ivan contributed $20,000, his share of the LLC is 20% (= $20,000 / $100,000).
Since the LLC lost $200,000 during the year, Ivan's 20% of the losses doubles the amount he contributed. Since he participated in a LLC, he is only liable for the amount he contributed, $20,000 and not the whole $40,000.
Explanation:
Generally LLC choose to be taxed like partnerships, so they have to allocate profits and losses every single year for taxation purposes. Profits and losses are allocated in the same ratio as member contributions unless other way of allocation is specified.
Therefore, Ivan should be responsible for $40,000, but that is more than his total liability, therefore he is only responsible for $20,000 (his total contribution).
Which of the following must register as an investment adviser under the Investment Advisers Act of 1940?A) A person who provides advice to people who are investing in antique furniture.B) A person who provides advice to people who are investing in coin collections.C) A person who provides advice to insurance companies on their portfolios.D) A person who provides advice to people who are investing in companies registered under the Investment Company Act of 1940.
Answer:
A person who provides advice to people who are investing in companies registered under the Investment Company Act of 1940.(D)
Explanation:
This act provides the legal framework to regulate the qualifications and activities of those who offer advice to investors whether individual or corporate to enhance their investment decision making in securities.
It is a U.S. federal law enacted to stipulate the role and responsibilities of investment's advisers.
To preserve the right of every Marine to directly seek assistance from, or communicate grievances to, their commanding officers.This statement defines request mast.True / False.
Answer:
True
Explanation:
The principal according to which a marines can ask for assistance or communicate a grievance to their commander. His/her issue may or may not be resolves to their satisfaction as it is just an opportunity to inform the commanding officer about the issue. Only those officers who are under official military chain of command are covered under a mast. If a marine has expressed his desire to express mast then all efforts are made to get marine before the commanding officer.
Major Corp. is considering the purchase of a new machine for $5,000 that will have an estimated useful life of 5 years and no salvage value. The machine will increase Major’s after-tax cash flow by $2,000 annually for 5 years. Major uses the straight-line method of depreciation and has an incremental borrowing rate of 10%. The present value factors for 10% are as follows:Using the payback method, how many years will it take to pay back Major’s initial investment in the machine?
Answer:
2.5 years
Explanation:
The payback method calculates how many years it will take the company to recover the investment's cost without considering any discount rate. The formula sued to calculate the payback period is:
payback period = investment cost / annual cash flow
payback period = $5,000 / $2,000 = 2.5
A frozen food manufacturer can produce either pizzas or calzones. As the result of an increase in the price of calzones, the firm produces more calzones and fewer pizzas. An economist would explain this by saying
A) The supply of calzones increased and the supply of pizzas decreased.
B) There has been an increase in the quantity supplied of calzones and a decrease in the quantity supplied of pizzas.
C) The supply of calzones increased and the quantity supplied of pizza decreased.
D) There has been an increase in the quantity supplied of calzones and a decrease in the supply of pizza.
Answer:
There has been an increase in the quantity supplied of calzones and a decrease in the supply of pizza.
Explanation:
All options in the question are describing the event that occurred at the frozen food company, but the option that is best arranged and gives the best narration of the event that occurred at the frozen food company is:
There has been an increase in the quantity supplied of calzones and a decrease in the supply of pizza.
Final answer:
An economist would explain the frozen food manufacturer's decision to produce more calzones and fewer pizzas as an increase in the quantity supplied of calzones and a decrease in the quantity supplied of pizzas due to the price change, not a change in the overall supply of either product.
Explanation:
When the frozen food manufacturer decides to produce more calzones and fewer pizzas because the price of calzones has increased, an economist would say that there has been an increase in the quantity supplied of calzones and a decrease in the quantity supplied of pizzas. This is because the higher price for calzones likely makes it more profitable to produce them, so the firm responds to the price change by supplying more calzones. Conversely, the firm reduces the production of pizzas, but this does not necessarily mean that the supply of pizzas has decreased; it only indicates a decrease in the quantity supplied at the existing price.
It's important to distinguish between 'supply' and 'quantity supplied.' The supply curve itself represents the relationship between price and the quantity that sellers are willing to provide over a range of prices. A change in supply would mean the entire curve shifts, due to factors like production costs changes, technology, or taxes. A change in the quantity supplied, on the other hand, is a movement along the supply curve in response to a price change.
Therefore, the correct answer to the student's question would be B) There has been an increase in the quantity supplied of calzones and a decrease in the quantity supplied of pizzas.
On January 1, 2018, Album Co. issued $200,000 of ten-year bonds. Interest is payable semi-annually on June 30 and December 31. The bonds were sold for $185,953. A journal entry was prepared on June 30, the first interest payment date, to record interest expense of $13,016 and cash interest paid of $12,000. What is the annual stated interest rate for the bonds?
Answer:
12%
Explanation:
Album Co. paid $12,000 for interest, and that is the stated interest of the bonds.
Stated interest = $12,000 / $200,000 = 6% semiannually, therefore the annual stated interest is 6% x 2 = 12%
The stated rate is applied to the face value of the bonds, regardless of their selling or trading price.
Three of the four types of processes are:
a. goods, services, and hybrids.
b. manual, automated, and service.
c. modular, continuous, and technological.
d. process focus, repetitive focud and product focus.
e. input, transformation, and output.
Answer:
The three of the four types of processes are: process focus, repetitive focus and product focus.
Explanation:
A process in production refers to the steps taken to convert raw materials to finished products that can be sold in the market.
A production process has four types, depending on the process involved in production, they are:
1.) Process Focus.
2.) Repetitive focus.
3.) Product focus.
4.) Mass customizations focus.
Three of the four types of processes are manual, automated, and service. So, option b is correct.
When considering the types of processes in a business context, it's important to note that there are various processes involved in transforming inputs into outputs. These processes can include different focuses such as process focus, repetitive focus, and product focus. Process focus refers to operations that are designed to produce a wide variety of products in relatively low volumes. Repetitive focus lies between the process focus and the product focus, with facilities being organized around products but with less volume than a product focus. A product focus is one where high volumes of a limited range of products are produced, often using assembly lines. Additionally, businesses also consider goods, services, and hybrids as types of processes where goods refer to tangible items, services to intangible offerings, and hybrids to a combination of both. Moreover, there are also manual, automated, and service processes, where manual implies labor-intensive work, automated refers to machine-driven operations, and service denotes processes that involve customer interaction or intangible outputs.
A single person making $20,000 would pay ________ per cent on $7,550 and 15% on the remainder..
Answer:
10 per cent.
Explanation:
$7,550 falls under 10% in the marginal tax rate for a single person.
The remainder is $20,000 - $7,550
= $12,450.
That falls under 15%.
Therefore a single person making $20,000 will pay 10% for $7,550.
Firms that specialize in performing international business services for SME and new-to-export companies, as commission representative intermediaries or as distributors, are known as _________. a. export management companies (EMCs) or trading companies b. global supply chain partners c. indirect exporters d. government representatives e. industry distributors
Answer:
(e)
Explanation:
Export management companies are usually profit oriented.
They serve as intermediaries by buying the product from a manufacturer such as an SME or new-to-export companies and then add commissions to the price to cover their profit.
They also assist in carrying out all aspects of exporting the product by Identifying international markets that best fits the product or service, they handle all shipping logistics.
An example of EMC is Cocofina an internationally recognized company that operates in several countries.
Suppose that when Sue’s disposable income is $10,000, she spends $8,000, and when her disposable income is $20,000, she spends $14,000. Sue’s autonomous consumer spending is equal to __________ and her MPS is equal to __________.
Answer:
The correct answer is: 2,000; 0.4
Explanation:
We can write the initial consumption function as,
C = a + bY
8,000 = a + 10,000b
a = 8,000 - 10,000b
The new consumption function is,
14,000 = a + 20,000b
Putting value of a in this function
14,000 = 8,000 - 10,000b + 20,000b
14,000 - 8,000 = 10,000b
b = [tex]\frac{6,000}{10,000}[/tex]
b = 0.6
Putting the value of b in the initial function,
8,000 = a + 10,000 [tex]\times[/tex]0.6
a = 8,000 - 6,000
a = $2,000
The marginal propensity to consume or b is 0.6.
The marginal propensity to save will be
= 1 - 0.6
= 0.4
One of the reasons why job performance should be defined only in terms of behaviors, and not in terms of results, is that results are:______A) less objective than behavior.B) a poor indicator of a firm's success.C) not as connected to the central concerns of managers.D) often influenced by factors that are beyond the employee's control.E) possible to interpret in a variety of ways, and thus are easily manipulated.
Answer:
D) often influenced by factors that are beyond the employee's control.
Explanation:
When a company defines good or bad performance only based on results, it may not be seeing the whole picture. Sometimes results are influenced by factors that are beyond an employee's control.
For example, a client wants to buy a car but his credit score is so low that he cannot get a car loan. Or a manufacturer has excess inventories because their distributors' sales decreased due to an increase in gross margins.
Job performance is preferably defined in terms of behaviors rather than results, as results are often influenced by factors beyond an employee's control. Therefore, individual behaviors, which the employee has control over, serve as a more reliable measure of job performance.
Explanation:One of the reasons why job performance should be defined only in terms of behaviors, and not in terms of results, is that results are often influenced by factors that are beyond the employee's control. Job performance is often best measured through observable behaviors because these behaviors are typically under the control of the employee and can be more effectively managed and adjusted if necessary. Whereas, results could be influenced by factors such as market trends, customer preferences, or even random events, all of which an employee has little to no control over.
For example, a salesperson may exhibit all of the right behaviors - they're punctual, they make a high number of customer contacts, and they have a thorough product knowledge. However, if the economy is in a downturn or the product they're selling has fallen out of favor with consumers, their sales results may not reflect their effort or skill. This often makes behaviors a more reliable measure of job performance than results.
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Which of the following is the most direct method of focusing on changes in the company’s balance sheet and income statement?a. Calculating key ratios and comparing them from period to periodb. Comparing account balances in the statements from one period to the nextc. Performing a vertical analysisd. Performing a horizontal analysis
Answer:
Performing a horizontal Analysis
Explanation:
Particularly in the case of investigating fraud and error, horizontal changes are the most direct way of focusing on changes because rather than the vertical which looks at the change as a percentage of Sales or Total Assets, the horizontal looks at change in each item from period to period, and takes the change amount as a percentage of the initial year's amount. i.e (Year 2 amount - Year 1 amount) / Year 1 amount = % Change in item in consideration.
Samantha Rodriguez had gross earnings for the pay period ending 10/15/19 of $5,785. Her total gross earnings as of 9/30/19 were $116,700. Social Security taxes are 6.2% on a maximum earnings of $122,700 per year. The Social Security tax due by her employer from her 10/15/19 paychecks is:______
A. $372.00
B. $61.07
C. $358.67
D. $442.55
Answer:
Social Security tax due = $358.67
so correct option is C. $358.67
Explanation:
given data
gross earnings = $5,785
total gross earnings = $116,700
Social Security taxes = 6.2%
maximum earnings = $122,700 per year
to find out
Social Security tax due by her employer from her 10/15/19 paychecks
solution
we get here Social Security tax due by her employer that is express as
Social Security tax due = Social Security taxes × gross earnings ........1
put here value we get
Social Security tax due = 6.2 % × $5785
Social Security tax due = $358.67
so correct option is C. $358.67
Liabilities are:___________ a) deferred credits that are recognized and measured in conformity with generally accepted accounting principles. b) any accounts having credit balances after closing entries are made. c) obligations to transfer ownership shares to other entities in the future. d) obligations arising from past transactions and payable in assets or services in the future.
Answer: d) obligations arising from past transactions and payable in assets or services in the future.
Explanation:
Liabilities are financial obligations meant to be catered for by an organization in the running of its business.
As a pedestrian, when crossing on a roadway where there are no intersections or marked crosswalks, the _______
Answer:
the pedestrian need to yield the right way to the cars or vehicles
Explanation:
From a general rule the pedestrian need to yield the right way to the cars or vehicles since if we don't have marks the prelation is for the motorcycles, vehicles, buses and trucks.
And the pedestrian need to wait in order to cross the roadway when he don't see any possible danger.
Partners in a business enter into a buy-sell agreement to purchase life insurance, which states that should one of them die prematurely, the other would be financially able to buy the interest of the deceased partner What of insurance policy may be used to fund this agreement?
1. Term insurance only
2. Permanent insurance only
3. Universal life insurance only
4. Any form of life insurance
Answer: (4) Any form of life insurance
Explanation:
According to the given question, any type of the life insurance policy are used for purpose of funding the interest financially of deceased partner.
In this type of life insurance policy we made an agreement between the holder of life insurance policy and the insurer based on the critical or terminal illness of the person.
It is basically used into the form of two types that is whole life or for the short term contract basis. Therefore, Option (4) is correct.
Any form of life insurance can be used to fund a including Term, Permanent, and Universal life insurance, permitting the surviving partner financial ability to buy the deceased partner's interest in the business.
Explanation:In order to fund a buy-sell agreement that allows one partner to financially buy the interest of a deceased partner, any form of life insurance can be used. This includes term insurance, permanent insurance, and universal life insurance. The type of insurance policy chosen will depend on the specific needs and preferences of the partners involved.
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Which of these are reasons for the increase in ethical violations among business leaders in the 21st century?
The increase in ethical violations among business leaders in the 21st century could be attributed to the growth of corporate power, complexity of business processes, and a cultural shift towards materialism.
Explanation:
Several reasons can account for the increase in ethical violations among business leaders in the 21st century. First, the growth of corporate power and influence has led to an environment where the potential benefits of unethical behavior, such as increased profit margins or market dominance, can outweigh the perceived risks. Second, the ever-increasing complexity of business processes and globalization can make it more difficult to maintain oversight and control, leading to a higher chance for unethical conduct. Lastly, the cultural shift towards materialism and the glamorization of wealth and success can lead some business leaders to rationalize unethical actions as a means to an end.
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The accurate reasons for the increase in ethical violations are:
Companies are expanding operations into developing countries where ethical risks may be higher and laws less protective.
Digital communications increase exposure to risk from both hackers and whistle-blowers.
More flexible regulations.
The increase in ethical violations among business leaders in the 21st century can be attributed to several factors. Let's explore each option provided to identify the accurate reasons:
Companies are expanding operations into developing countries where ethical risks may be higher and laws less protective.
As businesses globalize, they often operate in developing countries with less stringent regulations and oversight, which can increase the chance of unethical behavior. Navigating diverse legal environments and cultural norms can create complex challenges for maintaining ethical standards.It has become customary for business leaders to self-report unethical behavior.
This statement is not accurate. Self-reporting unethical behavior is uncommon; it is usually detected by internal audits, external investigations, or whistle-blowers. Business leaders generally aim to avoid exposure of unethical practices.Digital communications increase exposure to risk from both hackers and whistle-blowers.
The rise of digital communications indeed plays a role. With more data being stored and exchanged electronically, the risk of unethical practices being exposed by hackers or whistle-blowers has increased. Furthermore, social media can rapidly amplify and disseminate information about unethical activities.More flexible regulations.
Regulatory environments can vary significantly. In some cases, less stringent or more flexible regulations can lead to an increase in unethical behavior because there is less oversight and accountability. However, it's also important to note that regulations like the Sarbanes-Oxley Act have been implemented to increase accountability and deter unethical behavior.Complete Question:
Question: Which of these are reasons for the increase in ethical violations among business leaders in the 21st century?
Multiple select question.
Companies are expanding operations into developing countries where ethical risks may be higher and laws less protective.
It has become customary for business leaders to self report unethical behavior.
Digital communications increase exposure to risk from both hackers and whistle-blowers.
More flexible regulations.
Lamont Communications has amortized a patent on a straight-line basis since it was acquired in 2010 at a cost of $50 million. During 2013 management decided that the benefits from the patent would be received over a total period of 8 years rather than the 20-year legal life being used to amortize the cost. Lamont's 2013 financial statements should include:
A) A patent balance of $50 million.
B) Patent amortization expense of $2.5 million.
C) Patent amortization expense of $5 million.
D) A patent balance of $34 million.
Answer:
C) Patent amortization expense of $5 million.
Explanation:
Patent acquisition date is 2010
Cost of acquisition = $50 million
Initial Useful life = 20 years
Annual amortization = $50,000,000/20
= $2,500,000
Between 2010 and start of 2013 is 3 years
Carrying value at the start of 2013
= 50,000,000 - 3(2,500,000)
= $42,500,000
If patent would be received over a total period of 8 years rather than the 20-year legal life being used to amortize the cost,
Patent amortization expense in 2013 = $42,500,000/8
= $5,312,500
This can be estimated as $5 million.
The right option is C) Patent amortization expense of $5 million.
investment ratio that measures the investor’s ability to pay the property's monthly debt payments from the property’s net income
Answer:
Quick ratio
Explanation:
The quick ratio measures a firm ability to pay its obligations as they become due. It indicates a company's financial strength of generating sufficient resources to pay its current liabilities. The quick ratio is also the 'acid test' ratio.
The quick ratio shows a company's financial strength in meeting its current liabilities using 'quick' assets. A 'Quick' asset is a current asset that can be converted to cash in less than 90 days. They include cash and cash equivalents, accounts receivable, and marketable securities. The quick ratio is obtained by dividing 'quick' assets by current liabilities.
Whirlpool introduced a new high gloss white finish to its refrigerators. This innovation would be classified as a ______ innovation.
Answer:
Continuous innovation
Explanation:
Continuous Innovation
The upgrade of new products that are different from previously available products but that do not strikingly change buying or usage patterns. The company doesnt change the product or markets but continues to improve the products. This needs to be done continuously, because of the effect of the product life cycle. Whirlpool introducing a new high gloss white to its refrigerators is an improvement of the refrigerator.
Activities which are profit-motivated, but do NOT require a relatively high level of involvement from the taxpayer are referred to as investmentactivities.Which of the following statements is NOT accurate regarding the deduction for qualified education loan interest? The full amount of interest paid on qualified educational loans is deductible.
A) Andrew volunteered for the American Red Cross
B) $1,500 charged to the credit card during the year
C) Mileage for the 200 miles he drove to the ravaged area
D) The cost of lodging while he is volunteering
" Andrew volunteered for the American Red Cross " statements is NOT accurate regarding the deduction for qualified education loan interest.
Explanation:
The loan allowance is a federal income tax deduction that allows you to withdraw from your taxable income the interest you have paid on qualified student loans, up to $2,500. This is one of many tax benefits that students and parents can afford to contribute to higher education.
An income must be within certain limitations in order to be eligible. They do not have to specify deductions in order to obtain this deduction when they file that income tax.
The processing department has monthly budgeted manufacturing overhead of $180,000 plus $3.00 per machine hour. If a flexible budget report shows $348,000 for total budgeted manufacturing overhead costs for the month, what was the actual level of activity achieved during the month?
Answer:
56,000 machine hours
Explanation:
Data provided in the question:
Monthly budgeted manufacturing overhead = $180,000 + 3 per machine hours
Total budgeted manufacturing overhead costs = $348,000 for the month
Now,
Let the actual level of activity achieved during the month be 'x'
Therefore,
Total budgeted manufacturing overhead costs = $180,000 + 3(x)
or
$348,000 = $180,000 + $3(x)
or
$3x = $348,000 - $180,000
or
$3x = $168,000
or
x = 56,000 machine hours
Jackie enjoys garage sales and the bargaining process. She finds an old record player and some records for $25 at one garage sale. In negotiating with the owner, she was able to pay $12 for the entire bundle. Which desire as a customer did this experience fulfill for Jackie?
1. The customer experience of finding a price that is between too much and too little for the bundle.
2. The customer experience of finding a price that is as much as possible for the bundle.
3. The customer experience of finding a price that is as little as possible for the bundle
Answer:
The correct answer to the question is option:
3 :The customer experience of finding a price that is as little as possible for the bundle
Explanation:
Jackie is a customer that prefers paying below the value of the commodity. This is akin to discount sale or purchase. This is also available in stocks or shares. The difference of $13,000($25 - $12) represents the discount value.
Ally is known for not listening in meetings and for misunderstanding directions. Ty has decided to take a new approach with her, regardless of whether he is speaking with her or sending her an e-mail. The last thing he asks Ally to do is use her own words to tell him what she is supposed to do. How does Ty want Ally to respond?
a.by decoding
b.by encoding
c.by providing feedback
d.by eliminating noise
e.by paraphrasing
Answer:
e.by paraphrasing
Explanation:
Based on the information provided within the question it can be said that Ty wants ally to respond to what he just said by paraphrasing what he told her. This means that he want's her to repeat everything that he just told her but in her own words. That way he makes sure that Ally heard and understood everything that Ty has just said.
Ty wants Ally to respond by paraphrasing, using her own words to show her understanding of the instructions, serving as feedback to ensure the message was accurately received.
Explanation:Ty wants Ally to respond by paraphrasing. This means that Ally should use her own words to reflect her understanding of the instructions given to her. The practice of paraphrasing is a form of providing feedback, which helps to ensure that the message has been understood correctly. It is a key communication skill that involves both decoding the message that was conveyed and then encoding it anew in the individual's own language. This is different from simply repeating what was said; it requires processing and interpretation, which in this case, aims to address Ally's challenges with not listening and misunderstanding directions. Paraphrasing helps to eliminate misunderstandings that can be considered as noise in the communication process.
Consumer surplus is___________.
A. the highest price a consumer is willing to pay to consume a good or service.
B. the difference between the highest price a consumer is willing to pay and the lowest price a firm would be willing to accept.
C. the difference between the highest price a consumer is willing to pay and marginal benefit.
D. the difference between the lowest price a firm would be willing to accept and the price it actually receives.
E. the difference between the highest price a consumer is willing to pay and the price the consumer actually pays.
Answer: Option E
Explanation: Consumer surplus is a reflection of consumer benefits economically. Consumer surplus arises when the price consumers pay for a product or service is lower than the value they are prepared to pay.
It's a representation of the extra benefit customers get because they spend less for anything than they're ready to pay. Consumer surplus is centered on the marginal benefit economic theory, which seems to be the added value that a consumer receives from another segment of a product or service.
Thus, from the above we can conclude that the correct option is E .
Frank is a good student. He attributes his success partly to studying long hours and partly to his intelligence ("It runs in the family," he says). Given what psychologists have learned about attributions, three of the following statements are likely to be accurate descriptions of Frank. Which one is probably not an accurate description?
Answer:
a. When he is confused about class material, he is apt to give up quickly.
Explanation:
Note frank attributes his success to his studying long hours and from his family.
Therefore, Frank cannot be classified as a low performing student that is reluctant to ask questions when confused about class material.
His diligence as a student as well as his family influence on him is viewed as external factors that affects his behaviour or performance. However being 'apt to give up easily' is not an external factor that affects his behaviour as a student.
Money and promotion are examples of which theory that guides behavior?
A) Biological
B) External Reward
C) Both
D) Neither
Answer: B) External Reward
Explanation:
Extrinsic motivation or external reward are concrete rewards that an employee receives from the firm. This includes money, promotion and other concrete/fringe benefits.
A(n) ____ is a professional communication that accompanies your résumé when you respond to a job advertisement or are simply interested in locating a job within a company.
A. phone call B. e-mail C. letterhead D. cover letter
Answer: Cover Letter
Explanation:
A cover letter is a document that accompanies a résumé, that a job applicant uses to communicate his/her desire to get a job in a company. In the cover letter the job applicant's skills and accomplishments are briefly outlined to the recruiter.
Answer:
D. cover letter
Explanation:
A cover letter is a professional communication that accompanies your résumé when you respond to a job advertisement or are simply interested in locating a job within a company.