Option (c), A clear set of assumptions should be included in an economic model before proceeding.
What underlying assumptions does an economic model contain?People have understandable, value-related preferences for specific outcomes. In order to maximize their utility, both consumers and enterprises (as producers). Individuals make their own decisions based on complete and relevant information.
When forecasting using an economic model, what premise is essential?When building economic models, economists frequently employ a combination of finite and unlimited resources as their underlying premise. As outcomes that can be connected to a particular value, people's justifiable behaviors are also taken into consideration.
Why do economic models employ assumptions?Economists use assumptions in economic models for a variety of reasons, including the fact that it helps to simplify analysis and make the complex less daunting. Assumptions highlight the problem that is being investigated. Aid economists in quantifying effects using math.
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The correct question is:
Which of the following statements about an economic model is true?
Multiple Choice
an economic model should include all possible details. an economic model should never use simplifying assumptions. an economic model should make clear assumptions. an economic model always accurately predicts cause and effect.The field of finance is divided into three separate, though inter-related subject areas. These three areas are:
Three interconnected areas make up the field of finance: money and credit markets, which deal with the securities markets and financial institutions; investments, which concentrate on the choices made by both retail and institutional investors; and financial management.
Interconnected systems: what are they?
a direct link between two or more systems operating inside various authorization zones for the exchange of information and/or to grant access to information, information services, and resources.
To ascertain the impact of the planned project and identify potential mitigation options, modelling and analysis play a significant role in the interconnection research process. To examine how the bulk power system performs, three different types of analysis are typically done.
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the following data were taken from the records of menendez company: current assets $ 5,000 property, plant, and equipment 10,000 current liabilities 3,500 long-term liabilities 5,000 stockholders' equity 6,500 what is menendez company's current ratio? a.1.43 b.2.86 c.$5,000 d.1.00
a. 1.43. The Menendez Company's current ratio is 1.43. The records of Menendez company: current assets $ 5,000 property, plant, and equipment 10,000 current liabilities 3,500 long-term liabilities 5,000 stockholders' equity 6,500.
Bad current ratio: what is it?A current ratio that is lower than 1.00 generally denotes that a corporation has more debts due in a year or less than it does assets. This can be a sign that the business would find it difficult to fulfil its immediate obligations.
What makes the current ratio so crucial?A company's ability to meet short-term financial obligations is generally measured by the current ratio, which contrasts a company's current assets and liabilities. If the ratio is too low or even too high, it can signal potential problems and serve as a good gauge of financial health.
To calculate Menendez Company's current ratio,
Current Ratio = Current Assets / Current Liabilities
Current assets = $5,000
Current liabilities = $3,500
Current Ratio = $5,000 / $3,500
Current Ratio = 1.43
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if manufacturing overhead has been overallocated during the period, and most of the jobs produced have been sold, then:
a. Cost of goods sold should be increased
b. Cost of goods sold should be decreased
c. Finished goods inventory should be increase
d. Work in process invetory should be decrease
If manufacturing overhead has been overallocated during the period, and most of the jobs produced have been sold, then cost of goods sold on the income statement should be increased .
What is contained in the income statement?
The sales, costs, and profitability of a business are displayed on an income statement over a given time period. It may also be referred to as an earnings statement or a profit-and-loss (P&L) statement.
It displays your sales revenue for goods and services. to cover the costs of running your firm and generating revenue.
Why are income statements crucial?
Investors, creditors, and readers can use an income statement to determine whether a company was profitable during the fiscal year by looking at the financial information it contains.
The company's profit and loss for the entire fiscal year are recorded on the income statement in the context of corporate finance.
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Cristal’s gross semimonthly salary is $2968.50. What is the maximum amount she can afford to borrow for a home mortgage?
She can afford to borrow a maximum of $142,488 for a home mortgage.
Briefing:-housing loan
Due to the compensation being paid twice a year, a semimonthly employee will receive 24 (12 x 2) paychecks per year.
Applying this equation
Maximum: Gross semimonthly salary divided by 24 payments and two
Let's enter the formula.
Maximum = ($2968.50 x 24) x 2
Maximum: $71,244 divided by two
Amount maximal: $142,488
She can borrow up to $142,488 in total for a home mortgage, in conclusion.
Does maximum imply a cap?The utmost quantity or amount that is assignable, permissible, etc.; the highest amount, value, or degree achieved or documented. Noun, plural maximums, maxima. a maximum that a rule or legislation permits or allows.
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consider a situation where two gas stations located across the street from each other are charging different prices. the exxon gas station is charging 50 cents more per gallon of each type of gasoline than the shell gas station. the equilibrium can be restored if:
This situation is not an equilibrium because: increase in government spending,Since taxes reduce income, and income influences spending, the government can influence the amount of spending in the economy by changing the tax rate.
What can a government do in order to decrease peoples spending in the economy?a) The equilibrium can be restored if Exxon gas station reduces the prices. This change will achieve equilibrium.
(b) If the shell gas station reduces the prices, then the gap between the price charged by Exxon gas station and shell gas station become larger. So, this change will not be able to achieve equilibrium.
(c) If Exxon gas station increases the prices, this will also results in larger gap between price charged by Exxon gas station and shell gas station. So, this change will not be able to achieve equilibrium.
(d) If both stations reduce their prices by 50 cents per gallon, the gap remains the same. So, this change will not be able to achieve equilibrium.
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Decide how each cost is treated on an income statement prepared using the variable costing approach. Indicate whether each cost item is treated as a period cost or product cost.1. Direct labor2.Fixed manufacturing overhead3.Variable manufacturing overhead4.Fixed selling and administrative expenses5.Variable selling and administrative expenses
1)Direct labor is indeed a product cost, 2)Fixed manufacturing overhead is a period cost, 3)Variable direct materials is a product cost,4)Fixed general and administrative expenses are a period cost and 5)Variable sales and administrative expenses are a period cost. are really the correct responses.
Whenever the quantity manufactured equals the number of units sold, the net operating profit calculated through using variable costing method equals the net operating revenue calculated utilising absorption traditional costing.
Variable costing methods are ideal for cost benefit analysis.
Whenever the quantity produced exceeds the quantity sold, the net income from operations calculated using the variable accounting system exceeds the operating profit calculated utilising absorption costing method.
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using the present values worksheet (as in the lecture), how much more is the present value of a $100 lump sum to be received in 10 years for an interest rate of 5% versus 10%? (do not use $ sign in your answer).
The concept of the time value of money states that the value of a dollar today is worth more than the value of a dollar in the future.
The present value,or the total amount that a series of future payments is worth at this time.If pv is omitted, it is assumed to be 0 zero and must include the payout argument. For a lump sum,present value is the value of a given amount today.For example, if you deposited $5,000 in a savings account today at a given interest rate, say 6%, with the goal of withdrawing it in exactly three years,today's $5,000 would be a present value lump sum.PV,one of the financial functions,calculates the present value of a loan or investment, based on a constant interest rate.You can use PV with regular,ongoing payments,such as a mortgage or other loan,or a future security that is your investment objective.
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The pro-globalization argument from the mid-1940s until the early 2000s was based on the idea that free trade and open borders created a benefit for all countries. This argument is based on_________.A. the law of comparative advantageB. parochialismC. the law of competitive advantageD. uncertainty avoidanceE. social responsibility
The pro-globalization argument from the mid-1940s until the early 2000s was based on the idea that free trade and open borders created a benefit for all countries. This argument is based on: A. the law of comparative advantage.
What is the law of comparative advantage?The law of comparative advantage is a fundamental concept in economics that suggests that countries should specialize in producing goods and services in which they have a lower opportunity cost than other countries, and then trade with each other to maximize their overall economic welfare.
By allowing countries to specialize and trade freely with each other, the law of comparative advantage suggests that all countries can benefit and achieve greater levels of economic growth and prosperity.
Therefore the correct option is A.
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Matthew quit his job at state university where he earned $45,000 a year. To start a board game company, he cashed in his savings account that was earning $5,000 in interest annually. In the first year, the firm sold 10,000 units of his new board game at a price of $30 for each unit. The board game costs $10 each for production, packaging, marketing, employee wages and benefits, and rent on the production facility. The economic profits of matthew's firm in the first year were:
According to the data given in the question, the economic profits of Matthew's firm in the first year were $155,000.
To calculate the economic profits of Matthew's board game company, we need to calculate the total revenue and the total costs of producing and selling 10,000 units of the board game.
Total Revenue:
The total revenue is the number of units sold multiplied by the price per unit, so:
Total Revenue = 10,000 * $30 = $300,000
Total Costs:
The total costs include the variable costs of producing each unit and the fixed costs of running the production facility. The variable cost per unit is $10, and the fixed costs are the sum of all other expenses, which we will assume are also $45,000, the same as Matthew's previous salary.
Variable Costs = 10,000 * $10 = $100,000
Fixed Costs = $45,000
Total Costs = Variable Costs + Fixed Costs = $100,000 + $45,000 = $145,000
Now, we can calculate the economic profits by subtracting the total costs from the total revenue:
Economic Profits = Total Revenue - Total Costs
= $300,000 - $145,000
= $155,000
Therefore, the economic profits of Matthew's firm in the first year were $155,000.
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even before you use a new credit card, what information is the institution that issued your card required by law to disclose?
Even before you use a new credit card, the information on the rate of interest and method used to compute finance charges is required to be given by the institution that issued your card
Every nation generally has a legislation requiring credit card institutions to inform their users of specific disclosures when they apply for a credit card. The institution's goal is to give customers accurate and honest information about the conditions and costs of credit, including finance fees and interest rates for credit cards.
The disclosure statement that credit card issuers should give users includes details like finance cost computation methods, card-related fees, and their right to cancel the card within a specific time frame. Before a user uses a credit card for the first time, they must receive this disclosure statement. Before using the card, credit card issuers may assist customers in making more informed decisions about how to use credit and manage their finances by offering them this essential knowledge.
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What records all the transactions in a blockchain?
A merkle tree is a data structure used in computer science to record transactions in a blockchain
Using cryptographic hashes, a blockchain is a growing list of documents (blocks) that are securely connected to one another. Each block includes transaction information, a timestamp, and a cryptographic hash of the one before it. A blockchain is a shared distributed database or ledger between computer network nodes. A blockchain serves as an electronic database for storing data in digital form. The most well-known use of blockchain technology is for preserving a secure and decentralised record of transactions in cryptocurrency systems like Bitcoin. Blockchain is a decentralised, immutable database that makes it easier to track assets and record transactions in a corporate network.
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If average labor productivity in two countries is the same, average living standards will be lower in the country with:
A) the larger population. B) the smaller population.
C) the higher share of population employed D) the lower share of population employed.
Real economic output for each working hour is what is referred to as labour productivity, also known as workforce productivity. The change in economic production per work hour over a predetermined period is used to calculate the growth in labour productivity.
Employee productivity, a measurement of a worker's output, should not be confused with labour productivity. Divide the total output by the total labour hours to find the labour productivity of a nation. Consider a scenario in which the real GDP of an economy is $10 trillion and the total number of hours worked in the nation is 300 billion. $10 trillion divided by 300 billion would result in a labour productivity of roughly $33 per hour. The economy's rise in labour productivity would be 72% if its real GDP increased to $20 trillion the next year and its labour hours to 350 billion.
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When Apple Inc. hires a student intern during the summerhires a student intern during the summer, the flows are a ______ from firms to households and a ______ from households to firms.
A.
money flow; real flow
B.
real flow; real flow
C.
real flow; money flow
D.
money flow; money flow
When Apple Inc. hires a student intern during the summer, the flows are a money flow from firms to households and a real flow from households to firms. (Option A)
The circular flow model demonstrates the interaction between two economic decision-makers groups, households and businesses, and two economic market types, the market for resources and the market for goods and services. Households receive wages for their labor from the firms while firms receive resources from the household for their operation.
Hence, the money flow from firms to households refers to the wages paid to the student intern for their work. The real flow from households to firms refers to the labor provided by the student intern to the firm. These flows are part of the circular flow model of the economy, which shows how money and goods/services move between households and firms.
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If the price of a good is equal to the equilibrium price. a.there is a shortage (i.e, an excess demand) and the price will fall. b. the quantity demanded is equal to the quantity supplied and the price remains unchanged c. there is a surplus (i.e, an excess supply) and the price will rise. d. there is a shortage (i.e. an excess demand) and the price will rise
If the price of a good is equal to the equilibrium price, then the quantity demanded is equal to the quantity supplied.
This means that there is no excess demand or excess supply in the market, and the price will remain unchanged. Equilibrium price is the price at which the quantity demanded of a good is equal to the quantity supplied. At this price, there is no pressure for the price to change, as the market has adjusted to balance supply and demand. When the price is above the equilibrium price, there is a surplus (i.e., an excess supply) and the price will fall, while if the price is below the equilibrium price, there is a shortage (i.e., an excess demand) and the price will rise. So, if the price of a good is equal to the equilibrium price, the answer is b: "the quantity demanded is equal to the quantity supplied and the price remains unchanged."
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according to economist hernando de soto, the key issue in the relationship between capitalism and property rights is the inability of owners to
According to economist hernando de soto, the key issue in the relationship between capitalism and property rights is the inability of owners to establish legal title on the property they own .
What is the study of economics?
Economics is the study of scarcity and its effects on the use of resources, the production of products and services, the growth of production and welfare through time, and a wide range of other complicated issues of essential significance to society.
Who or what is an economist?
An economist is a specialist who researches how a society's resources and its output or production are related. Economists research all facets of society, from little local groups to entire countries and even the global economy.
By gathering and analyzing data, looking into trends, and assessing economic concerns, economists investigate the production and distribution of resources, goods, and services.
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Transcribed image text: Some characteristics of the determinants of nominal interest rates are listed as follows. Identify the (determinants) and the symbols associated with each characteristic: components Characteristic Component Symbol This is the rate for a short-term riskless security when inflation is expected to be zero. It is based on the bond's marketability and trading frequency; the less frequently the security is traded, the higher the premium added, thus increasing the interest rate. It is based on the bond's rating; the higher the rating, the lower the premium added, thus lowering the interest rate. This is the rate on a Treasury bill or a Treasury bond. This is the premium added to the risk-free rate that reflects the average sustained increase in the general level of prices for goods and services expected over the security's entire life. As interest rates rise, bond prices fall, and as interest rates| fall, bond prices rise. Because interest rate changes are uncertain, this premium is added as a compensation for this uncertainty. Flash Player WIN 28,0,0,161
Determinant: Risk-Free Rate This refers to the rate for a short-term riskless security when inflation is expected to be zero. It is considered the base interest rate for all other interest rates in the market
Symbols:
Short-term riskless security rate when inflation is expected to be zero
Symbol: r*
Rate on a Treasury bill or Treasury bond
Symbol: rRF
Determinant: Marketability and Trading Frequency
Symbol: liquidity premium
Determinant: Bond Rating
Symbol: default risk premium
Determinant: Inflation Premium
Symbol: IP
Determinant: Interest Rate Risk Premium
Symbol: IRRP
Risk-Free Rate: This refers to the rate for a short-term riskless security when inflation is expected to be zero. It is considered the base interest rate for all other interest rates in the market. In finance, it is denoted by the symbol "r*". In practice, the most common examples of the risk-free rate are the rate on U.S. Treasury bills and Treasury bonds, which are considered to have zero default risk.
Marketability and Trading Frequency: This determinant reflects the fact that the more liquid a security is (i.e., the more easily it can be bought and sold in the market), the lower the premium added to its interest rate. This premium is known as the liquidity premium, and it compensates investors for the additional risk they bear when they invest in less liquid securities. The symbol associated with this premium is simply "liquidity premium".
Bond Rating: This determinant reflects the fact that the creditworthiness of the issuer affects the interest rate of a bond. The higher the bond rating (i.e., the lower the probability of default), the lower the premium added to the interest rate. This premium is known as the default risk premium, and it compensates investors for the risk that the issuer may default on the bond. The symbol associated with this premium is "default risk premium".
Inflation Premium: This determinant reflects the fact that investors require compensation for the expected loss in purchasing power due to inflation. The inflation premium is the premium added to the risk-free rate that reflects the average sustained increase in the general level of prices for goods and services expected over the security's entire life. The symbol associated with this premium is "IP".
Interest Rate Risk Premium: This determinant reflects the fact that bond prices and interest rates have an inverse relationship. As interest rates rise, bond prices fall, and as interest rates fall, bond prices rise. Because interest rate changes are uncertain, this premium is added as a compensation for this uncertainty. The symbol associated with this premium is "IRRP".
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true or false: an internal control goal for cash receipts is to ensure that the business documents the correct amount of cash received and safely deposits the cash into its bank account.
an internal control goal for cash receipts is to ensure that the business documents the correct amount of cash received and safely deposits the cash into its bank account. The statement is true.
This helps to prevent errors, fraud, and theft, and ensures that the business has an accurate record of its cash transactions. Internal controls for cash receipts typically include procedures for accurately recording and reconciling cash transactions, separating the duties of those who handle cash from those who record transactions, and regularly reconciling bank statements to ensure that all deposits have been recorded correctly. By implementing strong internal controls for cash receipts, a business can improve marketing its financial stability and reduce the risk of financial loss.
A company is an organisation that engages in professional, commercial, or industrial operations with the main objective of making money and offering products or services to clients.
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Investing activities are concerned with acquiring long-term assets; financing Tiffany's provide the money needed to operate the business and to provide the capital for investing activities; and ______ activities are involved with providing goods and services to the customer.
Investing operations include purchasing the resources needed to run the company. Operating activities refer to any activity that generates revenue for the business.
What duties are associated with providing the client with goods and services?
Operating operations are the actions that a business takes that are directly related to supplying the market with its goods and/or services. Producing, distributing, promoting, and dispensing goods and services are the company's main activities.
What types of pursuits go under investing?
Examples of investing activities include investing in marketable securities, buying other businesses, and purchasing long-term assets like real estate, machinery, and equipment (stocks and bonds).
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robert, who's 17 years old, signed a contract to purchase stan's house. stan didn't realize robert was underage until robert's mother figured out what was happening and called robert's agent. because robert is a minor, the contract is voidable by whom?
Since Robert is a minor (under the age of 18), he is considered to lack legal capacity to enter into a contract.
What is a Contract law?Under contract law, a minor is generally considered to lack the legal capacity to enter into a contract. This means that a contract entered into by a minor is voidable, which means it can be either affirmed or disaffirmed by the minor.
In the case presented, since Robert is only 17 years old and therefore a minor, he has the right to void the contract he signed with Stan, and this would release him from any obligations under the agreement. If Robert chooses to disaffirm the contract, he must return any consideration received from Stan, such as a down payment or any other form of payment. Stan would then be obligated to return any property that Robert had transferred to him, such as the title to the house.
It's important to note that while minors have the right to void a contract, the law generally seeks to protect the interests of the other party to the contract. Therefore, if a minor receives benefits under the contract, the law may require them to compensate the other party to the extent of the benefits received.
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which best describes what the law of comparative advantage means for trading nations? each trading nation can benefit by exporting goods that
That have a lower opportunity cost to produce and importing goods that have a higher opportunity cost to produce.
The law of comparative advantage is an economic principle that suggests that countries should specialize in producing and exporting goods and services in which they have a lower opportunity cost of production, and import goods and services in which they have a higher opportunity cost of production. Opportunity cost is the value of the next best alternative foregone when making a choice. In the context of international trade, it means the cost of producing a good in terms of the production of another good that could have been produced instead. The idea is that every country has different unemployment rate resources, skills, and technology, which means that each country can produce certain goods more efficiently than others.
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The hechsler-ohlin theory suggests that __________ country would produce and export labor-intensive products.
Heckscher-Ohlin theorem (H-O). Capital-rich countries export capital-intensive goods, and labor-rich countries export labor-intensive goods. It states that capital-rich countries export capital-intensive goods.
The Heckscher-Ohlin model evaluates the trade balance between two countries with different characteristics and natural resources. This model describes how states should and should act when resources become imbalanced around the world. According to the Heckscher-Ohlin theory, trade allows countries to specialize. Each country exports the products it is best suited to produce in exchange for products that are unsuitable for production.
Given these assumptions, Heckscher and Olin concluded that a country has a comparative advantage in the goods produced by the factors of production (land, labor, or capital) it has in abundance. This logically leads to increased exports of these commodities.
A key assumption of the Heckscher-Ohlin model is that the two countries are identical except for differences in resource endowments. This also means that the aggregated preferences are the same.
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in preparing its adjusting entries at the end of this year, northern exposure company neglected to accrue commissions earned but not yet received or recorded. this error: question 16 options: a) understates this year's net income and overstates both assets and retained earnings at year-end b) understates this year's net income and understates both assets and retained earnings at year-end c) overstates this year's net income and understates both assets and retained earnings at year-end d) overstates this year's net income and overstates both assets and retained earnings at year-end
Northern exposure company neglected to accrue commissions earned but not yet received or recorded. this error: b) understates this year's net income and understates both assets and retained earnings at year-end.
Employees, outside sales-people, and other entities can all earn commissions. According to the accrual basis of accounting, you must record an expense and an offset liability for a commission in the same period that you record the sale that the salesperson was responsible for producing, as well as when you are able to determine the commission's amount.
The majority of businesses multiply net sales by a commission rate to determine actual commission costs. Unearned income is commission that is received in advance. Unearned income is money that was received but wasn't earned. This will appear as a liability on the balance sheet up until it starts to accrue.
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which term describes the process of examining the actions required for a product to be made or a service to be provided? multiple choice question. lean production work-flow design organization structure centralized design
The term "work-flow design" refers to the practice of analyzing the steps necessary to produce a something or deliver a service.
What is work flow, and give an example?Workflow is the sequence of actions required to finish an activity. Except the first and final steps, each phase in a process has a distinct step preceding it and a distinct step after it. An external event often starts the first stage in a linear workflow.
A work flow structure: what is it?When a business process is described in enough depth for a workflow system to be to carry it out directly, it is referred to as a workflow and workflow model. The tasks that make up a workflow model are linked together in the shape of a graph structure.
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an interest rate is 12% per annum with semiannual compounding. what is the equivalent rate with quarterly compounding? group of answer choices
Option B. 11.66%. To find the equivalent rate with quarterly compounding, we need to calculate the effective annual rate (EAR) with semi-annual compounding and then convert it to the quarterly compounding rate.
Using the formula for EAR with semi-annual compounding, we have:
[tex]EAR = (1 + (annual interest rate/n))^n - 1[/tex]
where n is the number of compounding periods per year.
For the given interest rate of 12% per annum with semi-annual compounding, we have:
[tex]EAR = (1 + (0.12/2))^2 - 1 = 0.1236 or 12.36%[/tex]
Now, we need to convert this to the quarterly compounding rate. Let r be the quarterly rate we are looking for, we have:
[tex](1 + r)^4 = 1 + EAR[/tex]
[tex](1 + r)^4 = 1 + 0.1236[/tex]
[tex](1 + r)^4 = 1.1236[/tex]
[tex]1 + r = (1.1236)^(1/4)[/tex]
1 + r = 1.0285
r = 0.0285 or 2.85%
Therefore, the equivalent rate with quarterly compounding is 2.85% or 11.4% per annum (4 times the quarterly rate). None of the answer choices match this result. However, if we assume that the interest rate of 12% per annum is with annual compounding (not semi-annual), then the correct answer would be:
B. 11.66%
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An interest rate is 12% per annum with semiannual compounding. what is the equivalent rate with quarterly compounding? group of answer choices
A. 11.83%
B.11.66%
C.11.77%
D.11.92%
Relationships between businesses and among nations are called: ________
Relationships between the businesses and among nations are called international relations.
What are international relations?International relations refers to the study of interactions among states, international organizations, non-state actors, and individuals in the global political system. It is a multidisciplinary field that draws on politics, economics, history, law, and sociology to explain and analyze global events and trends. The main areas of focus in international relations include foreign policy, international security, international law and organizations, globalization, and global governance. The study of international relations involves analyzing the behavior of states and other actors in the international system, and exploring how these behaviors are influenced by factors such as power, ideology, culture, and identity. Overall, international relations seeks to provide a better understanding of how the world works, and how to address global challenges and opportunities.
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explain why the saving curve slopes upward in the saving-investment diagram. explain why the saving curve slopes upward in the saving-investment diagram.
The slope of the supply of loanable funds curve is explained by the hypothesis that saving curve slopes is encouraged by higher real interest rates.
The slope is a crucial concept in economics since it may be used to gauge how quickly things are changing. The evolution of things and how one item changes as a result of the evolution of another is a common subject of study for economics. By dividing the change in the vertical amount by the change in the horizontal amount, the saving curve slopes of a line is determined.The assumption underlying the supply of loanable funds curve is that in the scenario described above, a higher real interest rate would be in effect regardless of whether the ground slopes upward or downward.the entire query is not asked; of finance and economics (the amount borrowed).
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Ralph Chang purchases a scanner for $85.85, 12 boxes of toner at $14.55 each, 24 ballpoint pens at $1.14 each, 2 boxes of memo pads at $4.19 a box, 12 report covers at $2.89 each, and an extension cord for $25.95 at Ned's Office Store in Los Angeles. The sales tax rate is 8.25% What are the (a) total selling price (b) sales tax and c) total purchase price?
Purchasing is the buying of goods or services.
What is the meaning of Services?Activities that benefit a business without delivering physical items are referred to as business services. These services could include waste management, event planning, marketing, and other forms of intangible services that are advantageous to the business.
The provision of labor, time, or effort, or indeed any combination thereof, without regard to the delivery or ownership of a specific end product or items, or a manufacturing process, is referred to as providing a service or services.
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The two most important inventory-based questions answered by the typical inventory model are.
A. when to place an order and what is the cost of the order
B. when to place an order and how many of an item to order
C. how many of an item to order and what is the cost of this order
D. how many of an item to order and with whom the order should be placed
The usual inventory provides answers to the two key inventory-based issues of how many of an item to order and how much this order will cost.
What does the phrase "inventory" mean, exactly?
Inventory refers to all the goods, supplies, and items that a business keeps on hand in anticipation of reselling them to clients for a profit. If the vendor distributes newspapers to customers using a vehicle, only the newspaper will be treated as inventory in this situation. The way the car is handled will be viewed as a plus. Although there are many different types of inventory, the four most common ones are finished goods, work-in-progress inventory, raw materials, and component inventory.
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how much do you need when you retire to provide a $2,500 monthly check that will last for 25 years? assume your savings can earn 6% annually (apr).
You would need to save $110,302.25 to provide a $2,500 monthly check that will last for 25 years, assuming your savings can earn 6% annually.
To calculate how much you need when you retire to provide a $2,500 monthly check that will last for 25 years, assuming your savings can earn 6% annually, we can use the present value of an annuity formula. This formula is:
PV = PMT x (1 - (1 + r/n)^(-n*t)) / (r/n)
where:
PV = present value (the amount you need to save)
PMT = payment amount ($2,500 per month)
r = annual interest rate (6%)
n = number of compounding periods per year (12, since we're dealing with monthly payments)
t = number of years (25)
Plugging in the numbers, we get:
PV = 2500 x (1 - (1 + 0.06/12)^(-12*25)) / (0.06/12)
PV = 2500 x (1 - 0.239718) / 0.005
PV = 2500 x 44.1209
PV = $110,302.25
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operations management is concerned with group of answer choices the design of a firm's productive systems the operation of a firm's productive systems the improvement of a firm's productive systems
Operations management is concerned with all of the options listed, but it is most directly focused on the operation of a firm's productive systems.
The design and improvement of these systems are also important, but the ultimate goal of operations management is to ensure that the systems are operating as efficiently and effectively as possible.
Operations management is a field of management that focuses on the design, operation, and improvement of a firm's productive systems, including its manufacturing and service operations. It involves the planning, organizing, and controlling of the processes that transform inputs, such as materials, labor, and energy, into outputs, such as goods and services, that meet customer needs and add value to the organization. The goal of operations management is to optimize the use of resources, reduce waste, and increase efficiency and effectiveness in the production and delivery of goods and services. This involves analyzing and improving processes, managing inventory, quality control, logistics, supply chain management, and other aspects of operations.
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Operations management is concerned with? group of answer choices
A. the design of a firm's productive systems
B. the operation of a firm's productive systems
C. the improvement of a firm's productive systems