A. Want to know how goods and services are produced is not one of the four reasons that we study OM.
Studying Operations Management (OM)Studying Operations Management (OM) is a critical part of understanding how organizations operate. OM focuses on the coordination of activities, the use of resources, and the creation of value. There are four main reasons why we study OM.
We study OM to understand how organizations obtain resources. This includes:
Both physical resources such as raw materials and labor, as well as intangible resources such as financial capital, technology, and information. By understanding how organizations acquire their resources, we can better anticipate their needs and opportunities.Learn more about Studying Operations Management at: https://brainly.com/question/14598400
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power juice is the owner of a firm that produces sports drinks. since there are a number of firms in the industry competing on cost, power juice has decided to pursue a differentiation strategy. in this case, she should
power juice is the owner of a firm that produces sports drinks. since there are a number of firms in the industry competing on cost, power juice has decided to pursue a differentiation strategy. in this case, she should Focus on adding unique features to her product that customers will value.
strategyBusiness executives and thinkers have been studying strategy for years. However, there is no conclusive solution to the question of what strategy is. One explanation for this is that people approach strategy in various ways.
Some individuals feel that you must thoroughly assess the current, forecast changes in your market or sector, and then plan how you will prosper in the future. Others, on the other hand, believe that the future is simply too impossible to forecast, and they prefer to adapt their plans organically.
According to Gerry Johnson and Kevan Scholes, authors of "Exploring Corporate Strategy," strategy establishes an organization's long-term direction and scope. Strategy, in their opinion, should specify how resources should be arranged to satisfy the demands.
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a committee was organized at ibm to study the company's hiring, promotion, and compensation policies. the group will review corporate procedures in these areas for the next six months and disband thereafter. this type of committee is referred to as a(n) .
To study the company's hiring, promotion, and compensation policies. The group will review corporate procedures in these areas for the next six months and disband thereafter. This type of committee is referred to as Ad hoc committees.
Ad hoc committees are established for a particular time and to address a specific issue. The council also often creates committees to monitor sanctions and other mandatory measures.
In hiring organization, overall process of identifying, screening, shortlisting and interviewing candidates for the right and deserved jobs within an organization.
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based on your readings this week, what would be your top three criteria for evaluating the performance of supply chain partners?
The three top criteria for evaluating the performance of supply chain partners are capacity of production , risk and impact on environment .
The three most important criteria for evaluating the performance of our supply chain partners are:
1.Production capacity-All supplier assessments must consider in detail the supplier's capabilities and limitations. By any measure, a supplier that cannot scale production with your production cycle will not perform well.
2. Risk:Every business inevitably faces some risks, but suppliers should strive to mitigate such risks throughout their supply chain. Examining performance metrics such as overall delay, average response time, and remediation actions can help create a realistic quantitative assessment of supplier risk.
3. Environmental impact :For economic and ethical reasons, sustainability is a critical component of business success. Suppliers' waste management plans, waste prevention techniques, material sourcing procedures, energy efficiency efforts, and protocols used when handling hazardous products should all be evaluated.
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Kraft introduced their all-new Philadelphia Ready-To-Eat Cheesecake Filling targeted for their current customers who do not have time to make cheesecake in the traditional manner. This is an example of a___________growth strategy.
a. product development
b. product penetration
c. diversification
d. divestment
e. market development
The correct answer is product development. The production of a new product for current markets is part of a product development strategy.
What is the product development strategy?Product development strategy is based on creating new items or altering old products to seem new, and then marketing those products to existing or new customers. When done well, it may lead to increased sales and market share.
Product development is typically considered by firms after they have exhausted all options for expansion with their present product or within their current markets.
Market research, user research, testing, and product launch will all be part of the internal product development plans.
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on january 1 of the current year, a firm's defined benefit pension plan is amended to increase the benefits for service already provided by employees through that date. the resulting immediate increase in projected benefit obligation (pbo) is $500 at january 1. the average remaining service period of employees covered by the amendment is ten years. service cost for the year is $1,500. actual and expected return on plan assets is $178. the discount rate is 10%. pbo at january 1, including the effect of the prior service grant, is $2,800. the funding contribution for the current year is $1,800. compute pension expense for the current year. $1,372 $1,652 $1,602 $2,102
Pension for CURRENT YEAR , includes +service Fee 1500, expected return 178, Interest cost 280 (2800*10%discount) and Amo PSC 50 (500/10) and pension expense is 1652$.
The pension, what is it?
A pension is a type of retirement plan wherein employees are compensated by their company with recurring payments when they retire in exchange for their years of service. The majority or all of the contributions to a pension are typically made by employers. Defining benefits is another name for a pension plan.
If I leave, do I still get my pension?
If you leave your job, is it possible to withdraw your pension? You risk losing your pension benefits if you quit your work before you can retire. Nevertheless, some pension plans permit you to receive payments after you retire. For further information about your options, review your paperwork.
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Obligations to be paid within one year or the company's operating cycle, whichever is longer, are: OCurrent liabilitles. O Current assets ud O Earned revenues. Ta Bills bo O Operating cycle liabilties.
The Obligations to be paid within one year or the company's operating cycle, whichever is longer is current liabilities.
Therefore option A is correct.
What are Liabilities?
Liability refers to the future sacrifices of economic benefits that the company is obliged to make to other entities as a result of past transactions or other past events. These sacrifices may include the usage of the companies assets or other valuables.
Current liabilities therefore are those liabilities that are to be settled in cash within the fiscal year or the operating cycle of a given firm.
Some examples of liabilities include the following
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Which company has the most efficient SG&A / Sales ratio?
Select: 1Save Answer
Chester
Andrews
Digby
Baldwin
Chester company has the most efficient SG&A / Sales ratio. The correct answer is option (A).
What is SG&A?SG&A stands for "Selling, General, and Administrative Expenses" in accounting. This expense is both fixed and ongoing. It is not affected by volume. It is also known as a non-production expense because of this. Because it comprises executive compensation and wages, it is one of the most important non-production expenditures on the income statement.
Overhead costs include selling, general, and administrative expenditures.Managers prefer to increase profitability by reducing costs that do not interfere with production and delivery of goods. Sales, general, and administrative expenditures give managers an easy way to reduce costs.Typically, during mergers and acquisitions, management will look for methods to reduce selling, general, and administrative costs. The synergy value for the merger is created by the money saved by cutting down selling, general, and administrative costs.To know more about SG&A, visit:
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Answer:
Chester company has the most efficient SG&A / Sales ratio. The correct answer is A.
Explanation:
hegg assume that the equipment was depreciated under macrs for a seven-year property class. in the first month of the fourth year, the equipment was traded in for similar equipment priced at $65,000. the trade-in allowance on the old equipment was $10,000, and cash was paid for the balance. what is the cost basis of the new equipment for computing the amount of depreciation for income-tax purposes? (consider the book value as the real value of the equipment)
The cost basis of the new equipment for computing the amount of depreciation for income tax purposes is $55,000.
Calculate the remaining depreciable basis of the old equipment.
The remaining depreciable basis of the old equipment can be calculated by subtracting the accumulated depreciation from the original cost of the equipment. Since the equipment was depreciated under MACRS for the seven-year property class, the accumulated depreciation would be 28.57% of the original cost of the equipment.
The original cost of the equipment = $100,000
Accumulated depreciation = 28.57% of $100,000 = $28,570
Remaining depreciable basis = $100,000 - $28,570 = $71,430
Calculate the cost basis of the new equipment.
The cost basis of the new equipment can be calculated by subtracting the trade-in allowance from the purchase price of the new equipment.
Purchase price of new equipment = $65,000
Trade-in allowance = $10,000
Cost basis of new equipment = $65,000 - $10,000 = $55,000
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with respect to anchorage points employers must
Employers must adhere to anchorage points. the entire list (correct answer)
What two criteria does OSHA have for anchor points?The anchorages must support 5,000 pounds per employee, or as an option (d), in accordance with 29 CFR 1926.502(d)(15) (15)
The personal fall arrest system's maximum fall arresting force must be maintained with a factor of safety of at least two according to I
What kind of attachment point in a fall protection system is acceptable?Personal fall protection devices must be worn with the body harness attachment point situated in the middle of the worker's back, close to the shoulder. If the free fall distance is kept to 2 feet (0.6 m) or less, the attachment point may be situated in the pre-sternal position.
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consider two firms who choose what quantity to produce. they can produce either 0, 8 or 16 units of a good, and face a cost of c(q)=10q market demand follows p(q)=100-3q in the nash equilibrium of this game, how much does each firm produce? suggestion: calculate the profits they obtain for each of the 9 combinations (or just 6, and take advantage of the symmetry of the problem), write down the game in its normal form (payoff matrix), and then use the underlining method to match best responses.
The firm should set marginal revenue equal to marginal cost.
The position of corporations in an economic system. companies appoint different factors of production This consists of employing employees to provide goods and offerings with the aid of using labor firms to pay wages developing a flow of profits to households, which in the end may be spent by using families on goods produced by different corporations.
A firm combines its factors of manufacturing with the intention to produce items or output the entire amount of output the company produces, the company's overall product, relies upon the portions of things that the firm purchases or employs.
Given the fact that this company is running in a competitive marketplace, the marketplace rate it faces is the same as marginal sales.
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global enterprises is a multinational corporation with operations on four continents. the ceo's direct reports include vice presidents for the north american, south american, asian and european divisions. global enterprises can best be described as using what type of organizational structure?
It is an integrated organizational structure that superimposes multiple dimensions on top of one another. The global matrix structure may include functional or product divisions that cross over different geographic regions.
What is the organization?A company, institution, association, or another type of entity made up of one or more people serving a specific purpose is referred to as an organization or organization. The word is derived from the Greek word organon, which also refers to an organ and various tools or instruments.
An organizational structure is a framework that specifies how certain tasks are to be carried out in order to meet the objectives of an organization. Rules, roles, and obligations may be a part of these activities.
Therefore, An organizational structure superimposes multiple dimensions on top of one another.
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sarah, sue, and as inc. formed a partnership on may 1, 20x9 called ssas, lp. now that the partnership is formed, they must determine its appropriate year-end. sarah has a 30% profits and capital interest while sue has a 35% profits and capital interest. both sarah and sue have calendar year-ends. as inc. holds the remaining profits and capital interest in the lp, and it has a september 30 year-end. what tax year-end must ssas, lp use for 20x9 and which test or rule requires this year-end?
12/31, majority interest taxable x year-end must sass, lp use for 20x9 and w test or rule requires this year-end.
What is interest in business?
Interest is the idea that rewards one party for taking a risk and giving up the chance to utilise cash while punishing another party for using someone else's money. The individual temporarily giving up their money has a right to compensation, and the person temporarily utilising those assets is frequently obligated to provide this payment.
Interest is the fee paid for having access to borrowed funds. While the interest rate used to compute interest is often reported as an annual percentage rate, interest expense or revenue is sometimes expressed as a dollar figure (APR).
Your savings account receives interest when funds are kept there. This is so that the bank may utilize your funds and make loans to other customers while you continue to receive interest payments.
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cost-benefit analysis is important to determine the role of government in our economy because a. markets for private goods cannot effectively assign costs and benefits. b. the government should provide all goods for which the benefits exceed the costs. c. cost-benefit analysis identifies the possible gains to society from government provision of a particular good. d. cost-benefit analysis is the best tool to identify market failures.
Cost-benefit analysis identifies the possible gains to society from government provision of a particular good.
Businesses utilize a cost-benefit analysis as part of a systematic procedure to determine which options to take and which to ignore. The cost-benefit analyst adds up the potential benefits anticipated from a circumstance or course of action before deducting the overall expenses related to that course of action.
Organizations frequently employ cost-benefit analysis to evaluate the acceptability of a particular policy. It is a breakdown of the predicted benefits and expenses, taking into consideration all potential alternatives as well as the current quo. When compared to other options, CBA aids in determining if and by how much the advantages of a policy exceed its disadvantages.
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due to the seasonality of resorts, one of the many challenges faced by managers is:
Due to the seasonality of resorts, one of the many challenges faced by managers is: attracting, training and retaining competent staff.
The primary challenges of change managers in the hotel sector is franchising. Because it enables managers to grow enterprises more quickly using other people's money rather than our own funds, it has a significant influence on us today. challenges bring in Talent for Manufacturing. Candidates who are capable of training the necessary responsibilities should be encouraged to apply, as this will increase employee challenges and retention. Create a training pipeline. Get ready for a changing labor market. management contracts and franchising in company challenges.
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wo firms are competing on a market with demand p=47-3q by simultaneously choosing what price to charge. assume they can charge any real price (not just limited to integer numbers) whoever charges the lowest price can capture the whole demand. if prices are the same, firm 1 captures the whole demand (and 2 does not sell anything) both firms have marginal cost equal to 5, and cannot produce more than 5 units, each. what is the equilibrium in this market? how much does each firm charge, and how much should each firm sell?
The firm should set marginal revenue equal to marginal cost.
A sale wherein the client isn't always allowed to return the products No returns could be widespread for gadgets supplied on company sales fee that does not exchange that's stated in an agreement to be the price at which shares will be supplied to the organization.
Selling is any transaction wherein money is exchanged for a very good or carrier. throughout an income negotiation, the seller attempts to persuade or sell the purchaser the benefits of their offer.
The firms in particular grow to be sellers available on the market for items and offerings and consumers inside the production sector. groups manufacture items and services utilizing substances or efficient resources along with labor, assets, finance, and entrepreneurship.
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Intermediate Good or Service
An intermediate good or service is an entity used to produce a final good or finished product.
An intermediate good or service is defined as a product that is used to make a final good or finished product i.e. usable for end users. Intermediate goods, such as salt, can also be finished products since it is consumed directly by users as well as used by producers to manufacture other food products.
Intermediate goods or services are sold between industries for the production of other goods and for resale purposes. These goods or services are also referred to as semi-finished products because they are used as inputs to become part of the finished products.
" Complete question:
What is meant by intermediate Good or Service?
"
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in progressive discipline, the problem-solving breakpoint occurs when a supervisor a. decides that a subordinate would be better at a different job. b. notices that a subordinate is not getting along with peers. c. notices that a subordinate made a mistake that needs fixing. d. decides that a subordinate is doing poorly and needs retraining.
In progressive discipline, problem-solving breakpoint occurs when a supervisor d. decides that a subordinate is doing poorly and needs retraining.
Progressive discipline is a type of punishment where the severity of the punishment increases with each subsequent offence. A disciplinary system for an employee that offers a gradual range of reactions to performance or behavior is known as progressive discipline. Depending on the frequency and seriousness of the issue, the disciplinary procedures can range from mild to harsh punishment.
Problem-solving breakpoints in progressive discipline happen when a supervisor determines that a subordinate is performing poorly and requires retraining. This kind of disciplinary system is typically created to provide the organization's members with a chance to learn from their mistakes and prevent them from happening again.
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which of the following statements would least likely be found in a corporate credo? a. support community organizations and projects. b. maximize financial benefits for stakeholders as the primary goal of the organization c. establish an environment that enhances professional growth. d. provide secure and stable employment for employees.
Maximize financial benefits for stakeholders.
The Oxford English Dictionary defines the Latin term credo as a proclamation of beliefs or objectives that guide someone's conduct. A credo is similar to an organization's mission statement, beliefs, or goal in the business world.
A statement of purpose, as well as the organization's priorities and objectives, will be clearly featured on a company website. An organization should make the best use of its guiding principles to guide its actions. Companies need a credo as direction for a variety of reasons, from identifying their company culture and expressing their beliefs to defining their raison d'être.
In order to communicate to customers that they are important to the company regardless of sales and profits, many companies put their customers first when creating a credo. This is especially true in the hospitality and restaurant sectors, where providing excellent customer service is essential.
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acerware inc. manufactures external hard disks for $32 per unit, and the maximum price customers are willing to pay is $47 per unit. data driver inc. is a competitor of acerware inc. that produces external hard disks for $37 per unit, and customers are willing to pay a maximum price of $50 per unit. what does this imply?
Acerware inc. creates a greater economic value than data driver inc. because the customers perceive that they get higher benefit by buying Acerware Inc.’s hard disk (customers pay $ 15 more than Production cost for Acerware Inc. while they have to pay $ 23 more for Data Driver Inc.)
What is economic value?
Economic value is the worth that a person assigns to an economic good depending on the benefits that the good provides. It is sometimes calculated based on the person's willingness to pay for good, which is typically assessed in money units.
It is important to distinguish between market value and economic value since the latter refers to the price that is paid in the market for an item or service and may be more or less than the economic worth that a given person assigns to it.
Economic value is challenging or impossible to quantify as it is subjective, yet methods for measuring it exist.
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hammond supplies expects sales of 248,427 units per year with carrying costs of $3.96 per unit and ordering cost of $8.32 per order. assuming the level of inventory is stable, what is the optimal average number of units in inventory? round to the nearest whole number.
The optimal average number of units in inventory is 486 units.
What is average number ?
The average value in a set of numbers is the middle value, calculated by dividing the total of all the values by the number of values. When we need to find the average of a set of data, we add up all the values and then divide this total by the number of values.
Given,
Annual sales units = 248,427units
Carrying costs per unit= $3.96
Ordering costs per order = $8.32
Economic order quantity = [(2 x annual sales units x ordering costs per order)/Carrying costs per unit]1/2
= [(2 x 248,427 units x $8.32)/$3.96]1/2
= [$4695669.84/$4.98]1/2
= [942905.5903614458]1/2 = 971.03325914278 units
Now,
Optimal average number of units in inventory = Economic order quantity/2
= 971.03325914278 units/2 = 486 units.
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the digby company has just purchased $40,900,000 of plant and equipment that has an estimated useful life of 15 years. suppose at the end of 15 years this plant and equipment can be salvaged for $4,090,000 (1/10th of its original cost). what will be the book value of this purchase (excluding all other plant and equipment) after its first year of use? use generally accepted (fasb) accounting principles.
The book value of this purchase (excluding all other plant and equipment) after its first year of use will be $33,538,000.
Depreciation Expense = (Cost - Salvage Value) / Useful Life =($40,900,000 - $4,090,000) / 15 years = $36,810,000 / 15 years = $2,454,000. Accumulated Depreciation = Depreciation Expense x 3 years = $2,454,000 x 3 = $7,362,000.
Cost = $40,900,000; Less: Accumulated Depreciation = 7,362,000. So, the net book value = $33,538,000.
Property, Plant, and Equipment is a category of long-term assets that is virtually entirely made up of depreciable items. The cost of them will be shown in the balance less the accumulated depreciation.
Generally Accepted Accounting Principles, or GAAP, are guidelines that cover all the specifics, intricacies, and legalities of corporate and business accounting. GAAP serves as the cornerstone for the Financial Accounting Standards Board's (FASB) extensive collection of authorized accounting practices.
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a 5-year term bond was issued on january 1, year 1, at a discount. the carrying amount of the bond at december 31, year 2, will be
a 5-year term bond was issued on January 1, year 1, at a discount. the carrying amount of the bond on December 31, year 2, will be higher than the carrying amount on December 31, 2017.
BondsBonds are high-security debt products that allow a company to raise cash and meet capital needs. It is a type of debt that debtors obtain from individual investors for a certain period of time. Companies, governments, municipalities, and other entities issue bonds for investors in primary markets. Bonds are graded by well-known organizations such as Standard and Poor's and Moody's. Each agency's rating system is slightly different, however the highest grade is AAA and the lowest rating is C or D, depending on the agency. Bonds are typically priced at a face value (also known as par) of $1,000 per bond, but once the bond enters the open market, the asking price might be lower than the face value, known as a discount, or more than the face value, known as a premium.
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project management differs from management of more traditional day-to-day activities because:project management differs from management of more traditional day-to-day activities because:it has an unlimited budget.it involves more of the workforce.it is more expensive.it has limited time frame.
Project the executives are tied in with finishing venture targets under a decent spending plan in a restricted time allotment and acknowledgment standards, though everyday administration is tied in with managing or controlling things or individuals. A. it has a limited time frame.
The Project Management Institute (PMI) characterizes project the board as a transitory cycle to make extraordinary items, administrations, or results. Tasks the board, then again, is a continuous movement that produces dull and long haul yields like assembling items, providing administrations, etc
Traditional Project Management (TPM) is indicated when there is a clear goal and a clear solution. Avoid Cost is a legitimate success criterion for delivering business value. Agile Project Management is a linear approach. Effective project management is a one-size fit approach.
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Who uses management information systems?
Management information systems help you make better decisions by providing information that is accurate, timely, relevant, and complete. Management information systems ensure that all managers work from the same set of data and make decisions based on the same information.
Everyone in business uses information systems, from the person who pays the bills to the person who hires and fires. The study of people, technology, and organisations is known as management information systems (MIS). A supermarket, for example, could use a computer database to keep track of which products sell the best. Furthermore, what are information systems used for. Data that has been organised to help answer questions and solve problems is referred to as information. An information system is software that aids in the organisation and analysis of data. An information system's purpose is to convert raw data into useful information that can be used for organisational decision making.
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Which of these statements would not be a good objective in a prospecting plan?
a. Hold one open house per week
b. Call five people on my contact list when I have time
c. Make contact with the Sunday FSBOsen Monday morning
d. Contact three people every week for referrals
Prospecting is a necessary step for any entrepreneur, manager, or business leader looking to increase sales and find new customers. A prospecting plan must be defined in order to best reach its target and obtain prospects. Hence, option b) is the answer.
It is, indeed, a roadmap, a guide that contains a list of steps that will lead you to success. Creating such a plan ensures that you prospect intelligently, saving you time and energy.
The prospecting strategy is employed to:
Organize commercial actions; Create a roadmap to guide your sales force; Assist salespeople in their daily lives by providing them with tools such as a database, planning, a sales script, and so on;Allocate resources wisely;Bring more prospects into your sales funnel, primarily through your digital marketing strategy (website, blog articles, social networks, etc.).To learn more about prospecting plan, please refer:
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Answer:
Explanation:
c. Make contact with the Sunday FSBOsen Monday morning
. if you deposit $2,000 cash at your bank, the banking system money supply:
If you deposit $2,000 cash at your bank, the banking system money supply: does not change.
Do cash deposits affect the amount of money on hand?The total amount of reserves held by a bank rises with each dollar deposited into an account. The bank will lend out the extra reserves while keeping some of the necessary reserves on hand. The money supply is increased when such loan is made. Banks "generate" money in this way to expand the available supply.
The total amount of money and other liquid assets in an economy on the measurement date is known as the money supply. Both cash and deposits that can be accessed virtually as easily as cash are roughly included in the money supply. Through a mix of their central banks and treasuries, governments issue coin and paper money.
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the following data relate to factory overhead cost for the production of 5,000 computers: actual: variable factory overhead $109,100 fixed factory overhead 36,000 standard: 5,000 hrs. at $27 135,000 if productive capacity of 100% was 8,000 hours and the total factory overhead cost budgeted at the level of 5,000 standard hours was $148,500, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. the fixed factory overhead rate was $4.5 per hour. enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Variable factory overhead Controllable Variance=154000−5000×31.75= -4750 which is a favorable variance as a negative number.
What is simple variance?The variance is the difference between the numbers in a set of data, to put it simply. Each number's variance is a statistical metric that shows how far off from the mean and from each other number in the set it is.
Why is calculating variance important?The variance in statistics is used to assess how well the mean summarizes a collection of data. For instance, the set has larger range if the variance is higher. Data scientists can draw the conclusion that the mean might not accurately represent the set as it would if the variance of the set were smaller using this information.
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your family owns a small construction company, copperbuild, that builds custom homes for an upscale architectural firm. your two cousins recently joined the family business, and copperbuild has decided to expand into the commercial building market. your uncle and cousins are preparing a proposal bid for a small shopping center on the west side of town. what should you remind your cousins about as they prepare the proposal bid? check all that apply. proposals are sales presentations emphasize the benefits to the recipient avoid mere mechanical descriptions make it easy for the recipient to understand and respond to your proposal
A Proposal bid needs to have all the details of company and the objectives, hence all the options are correct.
What is Bid and Proposal?In order to grow their business, a company created plans with goals and costs that are referred to as proposals and bids. Copper build Company is putting together a bid for a small shopping complex in response to the query.
Therefore, they need to provide a proper plan structure, underline the objectives and aims, and also include the cost of meeting these requirements. As a result, the following are the appropriate choices for them to make:
Avoid using purely mechanical language.
Highlight the advantages for the receiver.
Describe your areas of expertise and achievements.
Sales presentations are proposals.
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to say that a given welfare program is means-tested implies that: select one: a. in order to qualify, one must have the means. b. the size of the payment reflects the mean value of consumption based on family size. c. in order to qualify, one must show that one means to find a job. d. the more income one earns, the smaller the size of the benefit.
To say that a given welfare program is means-tested implies that d: 'the more income one earns, the smaller the size of the benefit'.
The term welfare program refers to a government program that provides financial or other aid to individuals or groups of people who cannot support themselves. Welfare program helps people to cope with financial stress during rough time periods of their lives. A means-tested welfare program refers to a welfare program that is implicitly or explicitly conditional on the income of a beneficiary and/or wealth falling below a certain level. Usually, this level is determined taking into account the beneficiary's family composition.
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Which of the following is true during a recession ? a. Real GDP will fall.
b. Nominal GDP will fall.
c. The natural rate of unemployment will fall.
d. Cyclical unemployment will fall.
e. All of the above.
During a recession, real GDP shrinks below its potential and the unemployment rate rises over the NRU.
What happens when the actual GDP falls?If the economy is contracting, that is bad news for businesses and workers. A two-quarter decrease in GDP is indicative of a recession, which may lead to wage freezes and job losses.
Which of the following is true regarding a recession?Economic output, jobs, and consumer spending all fall during a recession. Interest rates are likely to decline as a central bank (like the U.S. Federal Reserve Bank) reduces rates to stimulate the economy.
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