In "thinking like an economist," the section "the role of economic theory" states that many economists believe that useful insights into our behavior can be gained by assuming that we act as if governed by the rules of___________ decision making.
Answers
Useful insights into behaviour can be gained governed by the rules of rational decision-making.
According to "the function of economic theory," many economists think that by assuming that human actions are guided by the principles of rational decision-making, we may learn important insights into our behavior.
It is possible to define rational decision-making as the decision-making process that incorporates reasoning at every stage. It is founded on the use of impartial knowledge. The first step in making a reasonable choice is to identify the issue that needs to be resolved, followed by the collection of all relevant data.
The next step is to examine every consequence that may result from each potential solution. The rational decision-making process that follows comprises weighing all viable options and selecting the best one based on reasoning.
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Related Questions
Ethical constraints allow companies to ______. A. Give employees bonuses b. Show employees trust c. Fire employees easily d. Excuse employee behavior Please select the best answer from the choices provided A B C D.
Answers
Answer:
its B
Explanation:
Which of the following can a grocery store change in the long run?
A. the number of shelves, employees, and parking spaces in the parking lot
B. the type of grocery carts, magazine racks, and produce displays
C. the store location, sign on the storefront, and advertising on the media
D. all of the above
Answers
Answer:
I believe all of the above
Explanation:
went with what came to mind if its wrong very sorry.
A grocery store change, in the long run, is all of the above. Thus the correct option is D.
What is the importance of change?In order to remain in competition an organization needs to work on bringing change and innovation in the process as well as a product that helps them in achieving higher revenue by following trends and preferences.
If an organization adopts change frequently it shows its flexibility to cope with the demands of the market in order to meet the level of satisfaction of customers.
A grocery store that is planning to grow may eventually affect the number of shelves, staff, and parking places in the lot which helps in better services to their customers.
The design of the fruit displays, magazine racks, and grocery trolleys as well as the store's location, storefront sign, and media advertising can all help to increase sales and draw in more customers.
Therefore, option D is appropriate.
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Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called Group of answer choices auditing. economics. finance. accounting.
Answers
Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called accounting.
Accounting is a fundamental process in business and financial management. It involves systematically recording financial transactions, classifying them into appropriate categories, and summarizing the information to create financial statements such as the income statement, balance sheet, and cash flow statement. These financial statements provide a snapshot of a company's financial performance, position, and cash flows, enabling decision-makers to analyze and make informed decisions about the organization's operations, investments, and financial strategies.
While auditing, economics, and finance are related disciplines, each has its own distinct focus. Auditing involves examining and evaluating financial records and statements to ensure accuracy, compliance, and reliability. Economics studies the production, distribution, and consumption of goods and services within an economy. Finance, on the other hand, focuses on managing financial resources, investments, and the financial aspects of decision making. However, accounting serves as the foundation for providing the necessary financial information in these areas.
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Which of the following statements is TRUE about licensing? A) It is one of the most complex ways to engage in international marketing. B) The licensor gains entry into the new market at low risk. C) The licensee has no access to proprietary information. D) The licensee receives a fee or royalty. E) The licensor can use a manufacturing process or trademark for a fee.
Answers
Licensing is a contractual agreement in which a company (licensor) allows another company (licensee) to use its intellectual property, such as a trademark. Option D.
This allows the licensor to expand its business into new markets without having to make significant investments in production facilities or marketing efforts.
Licensing can be a relatively low-risk way to enter a new market because the licensee assumes most of the financial and operational risks associated with producing and marketing the licensed product.
The licensee also gains access to the licensor's proprietary information, such as manufacturing processes, which can help the licensee produce high-quality products efficiently.
However, licensing can be a complex process that involves negotiating the terms of the agreement, protecting intellectual property rights, and ensuring compliance with local laws and regulations.
Additionally, the licensor must carefully select a licensee that has the financial resources and operational capabilities to successfully produce and market the licensed product.
In conclusion, licensing can be a valuable strategy for companies looking to expand their business into new markets. By licensing its intellectual property, a company can generate revenue without incurring significant costs or risks.
However, licensing requires careful planning, negotiation, and execution to ensure a successful outcome for both the licensor and the licensee. So Option D is correct.
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Charity organisation has asked you to raise money for it by running a fete The organiser has given you a maximum amount to spend how would you plan the fete using a computer model and make a profit
Answers
Answer:
Charity fund should be handled with care as it is donor's money which should be handled with care. The amount of charity should be spent for the actual cause.
Explanation:
Charity fund is the money which should be handled with great care. The major fund of the charity should be attribute to the main cause and there should be proper record maintenance for every penny spent. The charity fund is the responsibility of the management and any donor can ask anytime about the money spent.
Which statement is true for a short-term goal?
A.
It is usually complex.
B.
It usually requires one to exert a lot of effort.
C.
It is usually related to the bigger things that you want to achieve.
D.
It usually takes less than a year to achieve.
Answers
Answer:
I would say D because it sounds more reasonable for me
An increase in inflation expectations:
a) shifts the Phillips Curve to the left, so that a given level of inflation corresponds to a higher level of unemployment.
b) shifts the Phillips Curve up, so that a given level of unemployment corresponds to a higher level of inflation.
c) shifts the Phillips Curve down, so that a given level of unemployment corresponds to a lower level of inflation.
d) None of the other answers is correct.
e) shifts the Phillips Curve to the right, so that a given level of inflation corresponds to a higher level of unemployment.
Answers
An increase in inflation expectations shifts the Phillips Curve to the right, so that a given level of inflation corresponds to a higher level of unemployment. The correct option is e.
The expectation that future inflation rates will be higher is referred to as an increase in inflation expectations. The Phillips Curve which depicts the connection between inflation and unemployment may be impacted by this.
Wages and prices are under pressure to rise when inflation expectations rise. As a result, businesses may raise their prices in response which would increase inflation. The Phillips Curve may move to the right as a result of this change in inflation expectations. In other words, there would be more unemployment for a given level of inflation.
The justification for this is that greater worker wage demands may result from higher inflation expectations which would raise labor costs for businesses. The correct option is e.
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Three types of financial assistance that can be applied for after Grade 12
Answers
2. loan assistance
3. Student Employment
explain which types of apartments would best suit to friends to plan to become roommates
Answers
Answer:
depends
Explanation:
it Depends upon what ur friends like try Planing it while sitting down with each other and talk it out
You can insert only one footnote and one endnote per page
Question 2 options:
True
False
Answers
It is a true statement that you can insert only one footnote and one endnote per page.
What do we call a footnote / endnote?On a typical page, this refers to the note printed at the bottom of a page that gives an extra information about something that has been written on that page. It is usually singular and tells about an event, subject or detail that is not important.
We can insert a footnote per page by clicking on the Options button at the top of the header, go to Footer Format and make sure that the footer applies to only this section. Now the footer will be only on that one page.
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Some HR workers investigate possible company violations. Why is it important for these workers to reserve judgment and be impartial? Explain in your own words. Then, imagine a situation in which someone may NOT reserve judgment and/or may NOT be impartial. Describe that situation.
Answers
To ensure a fair and impartial investigation, HR employees investigating potential company violations must reserve judgment and remain impartial.
Why is it critical for these employees to exercise impartiality and reserve judgment?HR professionals can gather all relevant data, facts, and evidence if they are impartial, and then evaluate it without having any preconceived notions or personal biases. They are able to make sound decisions using this strategy rather than relying on their own irrational thoughts or feelings to make decisions.
A situation in which the HR worker conducting the investigation is personally connected to or has a close relationship with the accused party could indicate that the individual may NOT reserve judgment or be impartial.
In such a scenario, the HR employee may feel compelled to safeguard their friend or coworker, which may result in a biased investigation and a result that does not accurately reflect the situation. The HR department's impartiality and integrity could be questioned in this scenario, which would jeopardize the investigation.
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A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow.
Answers
A subprime mortgage loan is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow.
If the price of cell phones increases by 5 percent and the quantity demanded falls by 2 percent, the absolute value of the price elasticity of demand is
A. 5.0.
B. 5 percent.
C. 0.4.
D. 2.1.
Answers
The absolute value of the price elasticity of demand measures the responsiveness of the quantity demanded to a change in price. It is calculated as the percentage change in quantity demanded divided by the percentage change in pricethe absolute value of the price elasticity of demand is = -0.4.
In this case, we are told that the price of cell phones increases by 5 percent and the quantity demanded falls by 2 percent. Using the formula for price elasticity of demand, we can calculate:
Elasticity = (percentage change in quantity demanded) / (percentage change in price)
Elasticity = (-2%) / (5%) (note that we use a negative sign for the percentage change in quantity demanded because it moves in the opposite direction of the price change)
Elasticity = -0.4
However, we are asked for the absolute value of the elasticity, which is always positive. Therefore, the answer is C, 0.4.
In summary, a 5 percent increase in price leads to a 2 percent decrease in quantity demanded, resulting in a price elasticity of demand of 0.4.
1. Calculate the percentage change in price (ΔP): In this case, the price increased by 5%, so ΔP = 5%.
2. Calculate the percentage change in quantity demanded (ΔQ): In this case, the quantity demanded fell by 2%, so ΔQ = -2%.
3. Use the formula for price elasticity of demand (E): E = (ΔQ / ΔP).
4. Plug in the values: E = (-2% / 5%).
5. Calculate the result: E = -0.4.
Therefore, the absolute value of the price elasticity of demand is 0.4, which corresponds to answer choice C.
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which of the following statements is true of penetration pricing? group of answer choices penetration pricing makes sense only in categories that have a significant group of consumers who would be willing to pay a premium. penetration pricing involves increasing product prices to target upscale consumers. a company using the strategy of penetration pricing makes a huge profit from the sheer volume of sales. a company using the strategy of penetration pricing gains a very high profit on each individual sale.
Answers
A company using the strategy of penetration pricing makes a huge profit from the sheer volume of sales.
How would you define sales?A sale is a deal in which the seller exchanges money for the sale of tangible or intangible products, assets, or services with the buyer. Between two or more parties, a sale is made. A sale can be defined more broadly as a contract between two or more parties, such as the buyer and the seller.
What do business sales mean?Sales, as used in everyday business operations, relate to any transactions where money or value is transferred for the right to own a good or access to a service. Sales in an accounting context refers to the money a business makes through selling goods or services (net sales).
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if you were to learn that a bottle of gatorade increased in size from 2017 to 2018, should that information affect your calculation of the inflation rate? if so, how?
Answers
Yes, if we were to learn that a bottle of Gatorade increased in size from 2017 to 2018, that information should affect our calculation of the inflation rate.
This is because inflation rate measures the average price increase of a basket of goods and services consumed in the economy over a specific period of time. Therefore, if the size of a bottle of Gatorade increases while its price remains constant, then the inflation rate will not be affected. However, if the size of a bottle of Gatorade increases and its price also increases, then the inflation rate will be affected.
Inflation rate = [(Price index in current year - Price index in base year) / Price index in base year] x 100%.
Where price index measures the average price of a basket of goods and services consumed in the economy over a specific period of time. If the price of Gatorade increases from the base year to the current year while the size remains constant, then the price index will increase and the inflation rate will also increase. Similarly, if the price of Gatorade remains constant from the base year to the current year while the size increases, then the price index will decrease and the inflation rate will decrease. Therefore, any change in the size and price of a bottle of Gatorade will affect the calculation of the inflation rate.
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Marta is interviewing candidates for a position in the Human Resources department at her company. She is deciding who to interview by going through resumés and looking at the subject areas in which each candidate studied. Which four candidates would be the best choice for Marta to interview?
Ahmed, who studied mathematics and economics
Michelle, who studied psychology and physiology
Marisol, who studied communications and business
Jackson, who studied liberal arts and foreign languages
Answers
Answer: Michelle, who studied psychology and physiology
Explanation: Human resources is the area of a company that is responsible for organizing and maximizing the performance of human capital, that is, employees. Psychology is the science in charge of human behavior and to be able to enhance the skills of employees it is important to know their behaviors and the culture that is carried in the company, so Michelle would be the ideal candidate for the position.
Answer:
B: Michelle, who studied psychology and physiology
Explanation:
3.) A special cereal mixture contains rice, wheat and corn in the ratio of
2:3:5. If a bag of the mixture contains 3 pounds of rice, how much corn
does it contain?
Answers
Answer:
7.5
Explanation:
Let R = rice.
Let W = wheat.
Let C = corn.
Let X = special cereal mixture
Given the following data;
Ratio of rice, wheat and corn = 2:3:5
Total quantity of rice = 3 pounds.
Ratio = 2 + 3 + 5 = 10
For rice;
2/10 * X = 3
Cross multiplying, we have;
2X = 30
X = 30/2 = 15
Therefore, the total quantity of the special cereal mixture is 15 pounds.
To find the total amount of corn;
C = 5/10 * 15
C = 75/10
C = 7.5 pounds.
Hence, the special cereal mixture contains 7.5 pounds of corn.
To find the total amount of wheat;
W = 3/10 * 15
W = 45/10
W = 4.5 pounds.
Check;
Special cereal mixture = rice + wheat + corn.
Special cereal mixture = 3 + 4.5 + 7.5
Special cereal mixture = 15 pounds.
Answer:
7.5 pounds of corn.
Explanation:
Rice=2x -> 3 pounds
Wheat=3x
Corn=5x
2x=3
x=1.5
5*1.5
=7.5
Which of the followind one-time payments are renters typically required to pay In to their first month's rent when they sign a lease
Answers
Answer:
Security deposit
Explanation:
Security deposits is a term that is used to describe a one-time payment that renters are typically required to pay into their first month's rent when they sign a lease.
This security deposit is usually given back to the renter after the tenancy period has ended, and the tenants did not cause any form of unusual damage beyond what is expected through the usage period.
What proposed changes were made to boost the chinese economy that caused mao to launch the oppressive cultural revolution? choose three answers.
Answers
The changes that were proposed to made to improve the Chinese economy that caused Mao to launch the oppressive Cultural Revolution are-
It allows workers to compete for wagesIt prosecutes government officialsIt allows farmers to sell excess cropsWhat is Cultural Revolution?The start of the Cultural Revolution by Mao Zedong As Mao attempted to regain control by mobilizing radical youngsters against the Communist Party leadership, the campaign was fundamentally about upper economics.
These help workers compete for their wages for the work they did. It gives farmers to sell their excess crops and prosecutes the government officials.
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on august 1, red company purchased computer equipment for $11,700 cash and also gave 100 shares of white common stock that red company held as an investment. the white common stock cost red company $5,000 and on august 1 had a fair value of $4,625. the installation costs for the computer equipment were $870 and shipping costs were $670. what amount should be the total amount debited to the computer equipment account?
Answers
The total amount debited to the computer equipment account is $16,705. It can be calculated by sum up purchase cost, fair value, installation costs, and also shipping costs.
In economic and accounting, Debit Amount generally can be defined as the amount shown in the Statement. Debit amount shown as the total amount (together with interest and costs) otherwise due to the Bank pursuant hereto in any one calendar month that incurred by the Cardholder in undertaking Transactions.
The calculation:
The total amount debited to the computer equipment account = purchase cost + fair value + installation costs + shipping costs
The total amount debited to the computer equipment account = $10,900 + $4,425 + $790 + $590
The total amount debited to the computer equipment account = $16,705
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Assume the Continental National Bank's balance statement is as shown in the accompanying table. Assuming a legal reserve ratio of 20 percent, how much in excess reserves would this bank have after a check for $10,000 was drawn and cleared against it
Answers
Answer:$6,000
Explanation:
The supplied statement suggests that it is $6,000 in total, assuming that the European National Bank's balance statement is as shown in the preceding table. based on a legal reserve ratio of 20%.
What does "accompaging spouse" refer to?Any of the terms spouse, partner, or accompanying person is appropriate. based on Samples 1, 2, and 3 of 11 papers. 11. A companion is someone who lives closely with the councilor (such as a spouse or lover) and/or provides care for them.
Married couples may work in the USA under specific visa categories, but the application process takes time. Spouses may work in certain nations, like Malaysia and Japan, however there are restrictions.
A member of the immediate family of an immigrant to the The United States is regarded as an affiliating relative. Anyone who meets the requirements for a visa or a green card is eligible to apply for a green card or a similar visa for accompanying family members. both wed and separated.
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Tom sevits is the owner of the appliance patch. Recently tom observed to difference in the dollar value of sales between the men and women he employee as sales associate. A sample of 40 days reveled the men sold a mean between $1400worth of apliance per day
Answers
The null hypothesis is that there is no difference in the mean amount of sales per day between men and women. The alternative hypothesis is that the mean amount of sales per day is larger for women than for men.
b) The decision rule is to reject the null hypothesis if the test statistic is greater than the critical value obtained from the t-distribution at the 0.05 significance level with degrees of freedom equal to the sum of the sample sizes minus 2.
c) The value of the test statistic can be calculated as (1500-1400)/sqrt(((200^2/40) + (250^2/50))) = 2.28.
d) Using the decision rule, the test statistic is greater than the critical value of 1.67 obtained from the t-distribution with 88 degrees of freedom (40+50-2) at the 0.05 significance level. Therefore, the null hypothesis is rejected.
e) The p-value can be calculated as the probability of obtaining a test statistic greater than 2.28 under the null hypothesis. Using a t-distribution with 88 degrees of freedom, the p-value is approximately 0.012.
f) The result suggests that there is a statistically significant difference in the mean amount of sales per day between men and women. Based on the sample data, it appears that women sell more appliances per day than men. However, it is important to note that this conclusion is based on a sample and may not necessarily hold true for the entire population. Further research and analysis may be needed to confirm the findings.
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Complete question:
Tom Sevits is the owner of the Appliance Patch. Recently, Tom observed a difference in the dollar value of sales between the men and women he employs as sales associates. A sample of 40 days revealed the men sold a mean of $1400 worth of appliances per day. For a sample of 50 days, the women sold a mean of $1500 worth of appliances per day. Assume the population standard deviation for men is $200 and for women $250. At the 0.05 significance level, can Mr. Sevits conclude that the mean amount sold per day is larger for women? a) State the null hypothesis and the alternative hypothesis. b) What is the decision rule? c) What is the value of the test statistic? d) What is your decision regarding the null hypothesis? e) What is the p-value? f) Interpret the result.
please help me i cant solve this :(
Answers
Answer: 25% is your answer
Explanation: (Simplify) 150/600 = 0.25 = 25%
I hope this helps! :)
What is the distinction between free trade and fair trade?
Free trade focuses on the _________ of nations. Fair trade seeks to bring ________ to the world of trade.
Answers
Answer:
Free trade focuses on the reductions of barriers and policies of nations.
Fair trade seeks to bring favor to the right of the worker.
Explanation:
Storm windows company understated their ending inventory during their first year of operations by $2,000. What is the effect of this error at the end of the year? select all answers which apply.
Answers
The effect of this error at the end of the year is:Understatement of net income $2000 and Overstatement of costs of goods sold $2000.
Effect of this error at the end of the yearSince the company understated their ending inventory during their first year by the amount of $2,000. The effect of the ending inventory that was understated will be:
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Please Help! I Have Limited Time!
1. To effectively prepare for an interview, you should
A. ask your friends what they know about the company and its strengths
B. call the company and request information about the company culture
C. send an email to the company and ask about industry trends
D. use the company's website to learn about its mission and executive team
2. Which of the following work factors should you look for in a career if professional growth is important to you?
A. The ability to complete challenging tasks
B. The ability to create positive relationships
C. The ability to earn a high salary
D. The ability to take time off for vacations
Answers
Answer:
1. D. use the company's website to learn about its mission and executive team
2. A. The ability to complete challenging tasks
Answer: for 1 is d: use the company's website to learn about its mission and executive team
Anwser: for 2 is A: The ability to complete challenging tasks
______ is measured by a product's performance characteristics and its attributes for which customers are willing to pay.
a. Competitive advantage
b. Profit potential
c. Contribution
d. Value
Answers
Value is measured by a product's performance characteristics and its attributes for which customers are willing to pay. The correct answer is option d.
Value is defined as the relationship between the price of a product or service and its benefits or the worthiness of the product or service in the minds of the buyer. It is a measure of the product's worth to the customer.
Value is measured by a product's performance characteristics and its attributes for which customers are willing to pay. Customers are willing to pay for a product if it provides the benefits they are looking for or solves their problems.
These benefits are usually referred to as a product's performance characteristics and attributes. So option d is correct.
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If you are interviewed by more than one person, you should send a thank-you note to _____.
each person in the interview
each person you see in the building
the first person you are introduced to
the person who is obviously leading the interview
Answers
Answer:
option A is correct.
i.e.
each person in the interview.
Explanation:
Because thank-you letter provides a simple but effective way to express gratitude to all the individuals you met with.
The following facts apply to a convertible bond making semiannual payments: Conversion price $53/share Coupon rate 6% Par value $1,000 Yield on nonconvertible debentures 8% of same quality Maturity 30 years $43 /share Market price of stock What is the minimum price at which the convertible should sell?
Answers
The minimum price at which the convertible bond should sell can be determined by comparing the value of the bond as a straight bond (nonconvertible debenture) and its conversion value.
The lower of these two values represents the minimum price at which the convertible should sell.
In this case, the bond has a conversion price of $53/share, a coupon rate of 6%, a par value of $1,000, and a maturity of 30 years. The yield on nonconvertible debentures of the same quality is 8%. The market price of the stock is $43/share.
To calculate the value of the bond as a straight bond, we can determine the present value of its future cash flows (coupon payments and principal repayment) using the yield on nonconvertible debentures. The value of the bond as a straight bond would be lower than its par value due to the higher yield.
The conversion value of the bond can be calculated by multiplying the market price of the stock by the conversion ratio (par value / conversion price). The conversion value represents the value the bondholder would receive if they chose to convert the bond into stock.
Comparing the straight bond value and the conversion value, the lower of the two will determine the minimum price at which the convertible bond should sell. If the conversion value is lower, the bondholder would be better off converting the bond into stock rather than selling it as a straight bond.
Without the specific values for the coupon payments and the conversion ratio, it is not possible to provide an exact minimum price at which the convertible bond should sell in this case.
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In order to effectively use price competition as a sustainable competitive advantage, a firm must have _____. Group of answer choices
Answers
Answer:
the lowest cost
Explanation:
the lowest cost
the lowest cost Is correct answer
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