Human resource management (HRM) is a strategic and comprehensive approach to managing an organization's personnel, or human capital. This includes recruitment, hiring, training and development, performance management, compensation and benefits, employee relations, and legal compliance.
HRM focuses on the employees as the most valuable asset of an organization, recognizing that their skills, knowledge, and motivation are critical to achieving the organization's goals. Two real-life examples of human resource management are as follows:
Example 1: Recruitment and Selection In the recruitment and selection process, HRM is responsible for identifying the skills, knowledge, and experience required for each job, advertising job openings, screening resumes and applications, conducting interviews, checking references, and making job offers. HRM also has to ensure that all candidates are treated fairly and without discrimination based on their race, gender, age, religion, or other personal characteristics.
Example 2: Training and Development HRM is also responsible for identifying the training and development needs of employees and providing them with the resources and support they need to improve their skills and knowledge. This includes orientation programs for new employees, on-the-job training, coaching and mentoring, workshops and seminars, tuition reimbursement, and career development opportunities. For example, a manufacturing company may need to train its employees in new manufacturing processes and technologies to stay competitive.
HRM would work with the manufacturing department to develop training programs and materials, and then deliver the training to employees through workshops, on-the-job training, and other methods. By investing in the training and development of employees, HRM can help the company improve productivity, quality, and innovation while retaining its best employees.
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which economist stressed the importance of the entrepreneur in economic growth?
The economist who emphasized the significance of the entrepreneur in economic growth is Joseph Schumpeter.
Joseph Schumpeter was a renowned economist who introduced the concept of entrepreneurship as a driving force for economic progress. He argued that entrepreneurs play a crucial role in promoting innovation, introducing new products and technologies, and disrupting existing industries. Schumpeter believed that these entrepreneurial activities were the primary drivers of economic growth and development. He highlighted the entrepreneurial function of bringing about "creative destruction," where old industries and practices are replaced by new ones, leading to increased productivity, employment, and overall economic advancement. Schumpeter's insights on the importance of entrepreneurs continue to influence modern economic thinking and policy.
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To gain a distinction grade you must choose a organisation with which you are famili ar. Using your chosen organisation, you are required to produce a further section to th e guide that: • Reviews t
To achieve a distinction grade, one must select an organization with which they are familiar and generate an additional segment to the guide that examines the organisation's ability to interact with its internal and external stakeholders.
In this context, the company's ability to collaborate with internal and external stakeholders is critical to its success. The internal stakeholders include personnel, management, and board members, while the external stakeholders include clients, partners, suppliers, regulators, and other entities that the company interacts with.
In addition, effective collaboration with internal and external stakeholders is essential for ensuring that the company's decision-making processes are inclusive, resulting in high-quality decisions that account for diverse perspectives. As a result, it is critical to examine the firm's internal and external collaboration initiatives in order to better understand the company's ability to operate efficiently and sustainably.
An organization that is effective in collaborating with both its internal and external stakeholders is more likely to be successful, efficient, and able to take advantage of market opportunities. Furthermore, successful internal and external collaboration will aid in the development of a positive reputation for the organisation.
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Which of the following are not required payroll deductions from an employees' gross earnings? (Check all that apply.)
Charitable contributions
Federal unemployment tax (FUTA)
State unemployment tax (SUTA)
The following types of charitable contributions are not required: Wage deductions from employee gross earnings.
Option a is correct .
These deductions are voluntary and entirely dependent on the employee's decision to donate a portion of the proceeds to charity. Employers act as intermediaries to deduct a specified amount from an employee's salary and transfer it to a designated non-profit organization.
Charitable contributions are not required by law or regulation, and employees are free to choose whether or not to make such deductions from their gross income. It is a personal decision based on the employee's personal values and philanthropy.
Hence, Option a is correct .
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How much must you invest at 8% interest in order to see your investment grow to $10,000 in 10 years? Use Appendix B to calculate the answer. Multiple Choice O $3,996 $4,630 $4,031 none of these
Therefore, the amount you need to invest at 8% interest rate to see your investment grow to $10,000 in 10 years is $4,630.Option B: $4,630.
To calculate the amount you need to invest at 8% interest rate to see your investment grow to $10,000 in 10 years, the formula that needs to be used is as follows:
Amount = (Present value) x (1 + interest rate)number of years
Amount = Present value x (Future value factor)
From Appendix B, Future value factor at 8% and 10 years is 2.15892
Therefore,
Amount = Present value x Future value factor
Amount = Present value x 2.15892$10,000 = Present value x 2.15892
Present value = $10,000 ÷ 2.15892
Present value = $4,630
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which of the following is not a form of fdi? a) wholly-owned affiliate b) joint venture c) exporting d) greenfield investment
Exporting is not a form of foreign direct investment. Option C is the correct answer.
An asset purchase when the buyer has direct control over the asset (such as the purchase of land and a building) is referred to as a foreign direct investment (FDI). Option C is the correct answer.
In other terms, it refers to an investment made by a company with its headquarters in another nation in the form of a controlling ownership interest in a company, a piece of property, or a productive asset like a factory located in another country. As a result, a concept of direct control serves to distinguish it from a foreign portfolio investment or foreign indirect investment. FDI may be broken down into government-initiated, export-increasing, and import-substituting FDI.
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Assume market demand function is: P = 100 - 2Q
1) Find the price when Q = 20
2) Find the quantity sold in the market when P = $40
3) Calculate the consumer surplus at P = $40
4) Calculate the endpoint price elasticity of demand when price increases from $36 to $40
we can use these two values to calculate the endpoint price elasticity of demand:Endpoint price elasticity of demand = (% change in quantity demanded) / (% change in price)Endpoint price elasticity of demand = (-6.25) / 11.11Endpoint price elasticity of demand = -0.562
1. When Q = 20, the market price is:
Market demand function is: P = 100 - 2QSo, putting Q = 20 i
P = 100 - 2(20)P = 100 - 40P = $60
Therefore, the price when Q = 20 is $60.2.
When P = $40, the quantity sold in the market is:Market demand function is: P = 100 - 2Q So, putting P = $40 in above equation we get, $40 = 100 - 2Q2Q = 100 - 40Q = 60/2Q = 30Therefore, the quantity sold in the market when P = $40 is 30.
3. Consumer surplus at P = $40:To calculate the consumer surplus at P = $40, we need to find the area below the demand curve and above $40. The shaded area in the figure below represents consumer surplus:Therefore, consumer surplus at P = $40 is 1/2 * (70 - 40) * 30 = $450.
4. Endpoint price elasticity of demand when price increases from $36 to $40 Endpoint price elasticity of demand = (% change in quantity demanded) / (% change in price)(New price - Old price) / Old price * 100% change in price = (40 - 36) / 36 * 100% change in price = 11.11%
Next, let's calculate the percentage change in quantity demanded:Initial quantity demanded (Q1) can be calculated by putting P = $36 in the demand function:P = 100 - 2QP = 100 - 2(Q1)36 = 100 - 2(Q1)Q1 = 32So, the initial quantity demanded (Q1) is 32.
Using the same process, we can calculate the new quantity demanded (Q2) when P = $40:40 = 100 - 2(Q2)Q2 = 30Therefore, the percentage change in quantity demanded is:% change in quantity demanded = (Q2 - Q1) / Q1 * 100% change in quantity demanded = (30 - 32) / 32 * 100% change in quantity demanded = -6.25%
Finally, we can use these two values to calculate the endpoint price elasticity of demand:Endpoint price elasticity of demand = (% change in quantity demanded) / (% change in price)Endpoint price elasticity of demand = (-6.25) / 11.11Endpoint price elasticity of demand = -0.562
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Eva invested in two stocks. She put 28% into stock A, which has an expected return of 9.9%, and the rest into stock B, with an expected return of 18.7%. What is the expected return of her portfolio? (Note: Round your answer to 3 decimal places. For example, if your answer is 8.7%, you should write 0.087 in the answer box. DO NOT write 8.7 in the box as you will be marked wrong).
Eva invested in two stocks. She put 28% of her investment in stock A, which has an expected return of 9.9%, and the remaining 72% of her investment in stock B, which has an expected return of 18.7%. Eva wants to calculate the expected return of her investment portfolio.
To solve this problem, we use the weighted average return of the stocks in which the investment is made. We can calculate the expected return of her portfolio using the following formula:Expected return of portfolio = (Weight of stock A * Expected return of stock A) + (Weight of stock B * Expected return of stock B)We know that the expected return of stock A is 9.9% and that stock A has a weight of 28%.
Therefore, the weight of stock B can be calculated as follows:Weight of stock B = 100% - Weight of st11ck AWeight of stock B = 100% - 28%Weight of stock B = 72%The expected return of stock B is 18.7%, which is the expected return of the remaining 72% of her investment.
Now, let's substitute all the values in the formula and solve for the expected return of her portfolio:Expected return of portfolio = (0.28 * 0.099) + (0.72 * 0.187)Expected return of portfolio = 0.02772 + 0.13464Expected return of portfolio = 0.16236
The expected return of her investment portfolio is 16.236% (rounded to 3 decimal places). Therefore, Eva can expect a return of 16.236% on her investment portfolio.
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According to Government statistics, the median household income in the United Kingdom in 1953 was £3,500 per year. Based on the Consumer Price Index, this is equivalent to £30,000 in 2008. Answer the following questions: 2.2.1 What was the annual compound rate of growth of median household income between 1953 and 2008? [10%] 2.2.2 In 1978, median household income was actually £15,000. Based on your answer in 2.2.1, what is the equivalent household income in 2008?
The equivalent household income in 2008, based on the 1978 income of £15,000, is approximately £147,179.
To calculate the compound annual growth rate (CAGR) of median household income between 1953 and 2008, we can use the formula:
CAGR = (Ending Value / Beginning Value)^(1 / Number of Years) - 1
where the Ending Value is £30,000, the Beginning Value is £3,500, and the Number of Years is 2008 - 1953 = 55.
Substituting these values into the formula
CAGR = (£30,000 / £3,500)^(1 / 55) - 1
Calculating this expression:
CAGR ≈ 0.1069
So, the annual compound rate of growth of median household income between 1953 and 2008 is approximately 10.69%.
To calculate the equivalent household income in 2008 based on the 1978 income of £15,000, we can use the compound growth rate we calculated in 2.2.1.
We'll assume that the growth rate remained constant over the entire period.
Equivalent Household Income = 1978 Income * (1 + CAGR)^(2008 - 1978)
Substituting the values:
Equivalent Household Income = £15,000 * (1 + 0.1069)^(2008 - 1978)
Calculating this expression:
Equivalent Household Income ≈ £147,178.78
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Tri Fecta, a partnership, had revenues of $360,000 in its first year of operations. The partnership has not collected on $35,000 of its sales and still owes $40,000 on $150,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $25,000 in salaries. The partners invested $40,000 in the business and $25,000 was borrowed on a five-year note. The partnership paid $3,000 in interest that was the amount owed for the year and paid $8,000 for a two-year insurance policy on the first day of business.
Compute net income for the first year for Tri Fecta.
Compute the cash balance at the end of the first year for Tri Fecta.
Net income for the first year of operations for Tri Fecta is $199,000. The cash balance at the end of the first year is $124,000.
To calculate net income, we start with revenues of $360,000 and subtract the amount that is yet to be collected ($35,000), as well as the amount owed for merchandise ($40,000). This gives us $285,000. From this, we subtract the salaries paid ($25,000) and the interest paid ($3,000). We are left with $257,000. Finally, we subtract the cost of the insurance policy ($8,000). The resulting net income is $249,000.
To calculate the cash balance, we start with the initial investment from partners ($40,000) and the borrowed amount ($25,000). This gives us $65,000. From this, we subtract the salaries paid ($25,000), the interest paid ($3,000), and the cost of the insurance policy ($8,000). The resulting cash balance is $29,000. However, we also need to consider the amount yet to be collected ($35,000). Subtracting this, the final cash balance at the end of the first year is $124,000.
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Which of the following institutions is NOT a depository institution?
A) a thrift institution, such as a savings and loan association
B) a commercial bank
C) a money market mutual fund
D) the U.S. Treasury
Out of the following institutions, the one that is NOT a depository institution is a money market mutual fund. A depository institution is a financial organization that takes in deposits from customers and holds them in accounts like savings accounts, checking accounts, and certificates of deposit.
These institutions then lend these funds out to other customers as loans. Commercial banks, savings and loan associations, and credit unions are examples of depository institutions.A money market mutual fund is a type of mutual fund that invests in high-quality, short-term debt instruments. They are not depository institutions because they do not take deposits from customers and are not involved in lending funds to other customers. Instead, they invest the funds they receive from investors in short-term debt instruments like Treasury bills, certificates of deposit, and commercial paper. These funds are considered a type of cash equivalent, as they are low-risk investments that offer a higher yield than a savings account.In summary, the institution that is not a depository institution is the money market mutual fund.
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Package Corporation acquired 90 percent ownership of Sack Grain Company on January 1, 20X4, for $115,200 when the fair value of Sack's net assets was $17,000 higher than its $111,000 book value. The increase in value was attributed to amortizable assets with a remaining life of 10 years. At that date, the fair value of the noncontrolling interest was equal to $12,800 During 20X4, Sack sold land to Package at a $6,500 profit. Sack Grain reported net income of $19,000 and paid dividends of $4,800 in 20X4.
Consolidated net income for 20X4 is $20,530, and the noncontrolling interest income is $1,900.
To calculate the consolidated net income, we start with Sack Grain Company's net income of $19,000. Since Package Corporation owns 90% of Sack Grain Company, the share of net income attributable to Package Corporation is $19,000 * 90% = $17,100.
Next, we need to consider the amortization expense related to the excess fair value of $17,000. The annual amortization expense is $1,700 ($17,000 / 10 years). Since Package Corporation owns 90% of Sack Grain Company, the share of the amortization expense is $1,700 * 90% = $1,530.
Therefore, the consolidated net income is the sum of Sack Grain Company's net income and the share of amortization expense: $19,000 + $1,530 = $20,530.
As for the noncontrolling interest income, we need to calculate the income attributable to the noncontrolling interest. Since the noncontrolling interest owns 10% of Sack Grain Company, the income attributable to the noncontrolling interest is $19,000 * 10% = $1,900.Additionally, we need to consider the intercompany land sale. The profit on the intercompany land sale of $6,500 is eliminated in consolidation since it occurred within the consolidated group.
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View Policies Show Attempt History Current Attempt in Progress Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards. Item Metal re to search Plastic Rubber Item Labor Materials Per unit 1 lb. (a) 12 oz. 402. Younde Direct labor Per unit 15 min. $8.00 per hr. Predetermined overhead rate based on direct labor hours - $4.56 Cost The January figures for purchasing, production, and labor are: The company purchased 215,900 pounds of raw materials in January at a cost of 78¢ a pound. Production used 215,900 pounds of raw materials to make 109,000 units in January. 634 per lb. $1.00 per lb. 88€ per lb. Direct labor spent 18 minutes on each product at a cost of $7.90 per hour. Overhead costs for January totaled $54,517 variable and $75,000 fixed. Cost Answer the following questions about standard costs O i eTextbook and Media (d) What is the labor price variance? (Round per unit calculations to 2 decimal places, es. 1.25 and final answer to a decimal places, e.g. 125.) Labor price variance $ Save for Later Attempts: 1 of 2 used M Attempts: 0 of 2 used (e) The parts of this question must be completed in order. This part will be available when you complete the part above. (f) The parts of this question must be completed in order. This part will be available when you complete the part above, Submit Answer
The labor price variance is calculated using the formula which gave the value as $180,907.0.
The labor price variance is calculated using the formula: LPV = AQ(AP - SP)
AQ = Actual Quantity;
AP = Actual Price;
SP = Standard Price.
A company uses stringent standard costs to evaluate its manufacturing efficiency. The company uses the following standards: Item Metal re to search Plastic Rubber Item Labor Materials Per unit 1 lb.
(a) 12 oz. 402. Younde Direct labor Per unit 15 min. $8.00 per hr. Predetermined overhead rate based on direct labor hours - $4.56 Cost The January figures for purchasing, production, and labor are: The company purchased 215,900 pounds of raw materials in January at a cost of 78¢ a pound. Production used 215,900 pounds of raw materials to make 109,000 units in January. 634 per lb. $1.00 per lb. 88€ per lb. Direct labor spent 18 minutes on each product at a cost of $7.90 per hour. Overhead costs for January totaled $54,517 variable and $75,000 fixed. We are asked to calculate the labor price variance (LPV).
Calculation of LPV:
Direct labor per unit = $7.90/60 = $0.132 per minute
SP = Standard price = $0.132 × 15 minutes = $1.98 per unit
AP = Actual price = $8.00 per hour = $0.1333 per minute
AQ = Actual quantity = 109,000 units
LPV = AQ(AP - SP) = 109,000($0.1333 - $1.98) = -$180,907.00
Rounding off the answer to a decimal place: $-180,907.00 ≈ -$180,907.0.
Therefore, the labor price variance is -$180,907.0.
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All of the following are relevant to the sell or process further decision except.
a. costs incurred beyond the split-off point
b. revenues at the split-off point
c. joint costs incurred before the split-off point
d. revenues beyond the split-off point
All of the following are relevant to the sell or process further decision except revenues at the split-off point. Option b is correct.
The sell or process further decision refers to the decision of whether to sell a joint product at the split-off point or to process it further into separate products. In this decision, all costs incurred beyond the split-off point (a), joint costs incurred before the split-off point (c), and revenues beyond the split-off point (d) are relevant factors that need to be considered.
However, revenues at the split-off point (b) are not relevant because they are already accounted for and do not impact the decision-making process. The decision focuses on the additional costs and revenues that can be generated by further processing the joint product. Option b is correct.
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Suppose you have the opportunity to make an investment in a real estate venture that expects to pay investors $820 at the end of each month for the next eight years. You believe that a reasonable return on your investment should be an annual rate of 15 percent compounded monthly Required: eBook a. How much should you pay for the investment? b. What will be the total sum of cash you will receive over the next eight years? c. What do we call the difference between the present value and total cash received?
The present value of the investment is approximately $60,933.75, the total sum of cash received over eight years is $78,720, and the net present value is approximately $17,786.25.
What is the present value, total cash received, and net present value of an investment in a real estate venture that pays $820 at the end of each month for eight years with a 15% annual compounded monthly return?a. To calculate the price you should pay for the investment, you need to find the present value of the cash flows. Given a reasonable annual rate of return of 15 percent compounded monthly, you can use the present value formula.
In this case, the monthly cash flows of $820 for 8 years can be discounted back to the present value. Using the formula, the present value of the cash flows is approximately $60,933.75.
b. Over the next eight years, you will receive monthly cash flows of $820. Multiplying this amount by the total number of months (8 years * 12 months/year), you will receive a total sum of cash amounting to $78,720.
c. The difference between the present value and the total cash received is known as the net present value (NPV).
In this case, the NPV would be the total cash received ($78,720) minus the present value of the cash flows ($60,933.75), resulting in an NPV of approximately $17,786.25. This represents the net gain or benefit of the investment above the initial investment amount.
Therefore, to summarize:
a. The price you should pay for the investment is approximately $60,933.75.
b. The total sum of cash you will receive over the next eight years is $78,720.
c. The difference between the present value and the total cash received is the net present value, which amounts to approximately $17,786.25.
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the adbusters ad that compares north american consumption with that of mexico, china and india features what animal?
t organization founded in 1989 that seeks to subvert the consumerist status quo and put an end to corporate greed. They utilize advertisements and other media to raise awareness about issues such as climate change, overconsumption, and environmental degradation
What is the is a large herbivorous mammal that once roamed the American prairie in large numbers. It is a symbol of the American West and has come to represent a sense of freedom, power, and resilience. Today, there are only a few thousand bison left in the wild, and they are considered an endangered species due to hunting, habitat loss, and disease.
consumerist status quo and put an end to corporate greed. They utilize advertisements and other media to raise awareness about issues such as climate change, West and has come to represent a sense of freedom, power, and resilience. Today, there are only a few thousand bison left in the wild, and they are considered an endangered species due to hunting, habitat loss, and disease American prairie in large numbers. It is a symbol of habitat loss, and disease.
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Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $43,000 of common stock for cash. 2) The company paid cash to purchase $26,900 of inventory. 3) The company sold inventory that cost $16,500 for $31,850 cash. 4) Operating expenses incurred and paid during the year, $14,500. 9 Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $36,200 of inventory. 2) The company sold inventory that cost $33,300 for $58,250 cash. 3) Operating expenses incurred and paid during the year, $18,500. Note: Sanchez uses the perpetual inventory system. What is Sanchez's gross margin for Year 2? Multiple Choice $24,950 Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $46,000 of common stock for cash. 2) The company paid cash to purchase $28,400 of inventory. 3) The company sold inventory that cost $18,000 for $35,600 cash. 4) Operating expenses incurred and paid during the year, $16,000. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $39,200 of inventory. 2) The company sold inventory that cost $34,800 for $62,000 cash. 3) Operating expenses incurred and paid during the year, $20,000. Note: Sanchez uses the perpetual inventory system. What is the amount of inventory that will be shown on the balance sheet as of December 31, Year 2? Multiple Choice $4,400
The amount of inventory that will be shown on the balance sheet as of December 31, Year 2, is $4,400.
To calculate Sanchez Company's gross margin for Year 2, we need to determine the cost of goods sold (COGS) and subtract it from the net sales. The gross margin represents the amount of revenue remaining after accounting for the direct costs associated with producing the goods sold.
Given the information provided, we can calculate the COGS for Year 2 as follows:
Inventory purchased: $36,200
Inventory sold: $33,300
COGS = Inventory purchased - Inventory sold
COGS = $36,200 - $33,300
COGS = $2,900
Next, we need to determine the net sales for Year 2. The net sales represent the total sales revenue after deducting any sales returns, discounts, or allowances. From the given information:
Sales: $58,250
Now we can calculate the gross margin for Year 2:
Gross Margin = Net Sales - COGS
Gross Margin = $58,250 - $2,900
Gross Margin = $55,350
Therefore, Sanchez Company's gross margin for Year 2 is $55,350.
For the second part of the question, to determine the amount of inventory that will be shown on the balance sheet as of December 31, Year 2, we need to consider the inventory purchases and sales throughout the year. From the given information:
Inventory purchased: $39,200
Inventory sold: $34,800
To calculate the ending inventory, we subtract the inventory sold from the inventory purchased:
Ending Inventory = Inventory purchased - Inventory sold
Ending Inventory = $39,200 - $34,800
Ending Inventory = $4,400
Therefore, the amount of inventory that will be shown on the balance sheet as of December 31, Year 2, is $4,400.
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Consider the problem of a consumer who must choose between two types of goods, good 1 (x1) and good 2 (x2) costing respectively pı and p2 per unit. He is endowed with an income m and has a quasi-concave utility function u defined by u(x1, x2) = 5 1n X1 + 3 1n x2. 1. Write down the problem of the consumer. 2. Determine the optimal choice of good 1 and good 2, x1 = x1(P1, P2, m) and x2 = x2(P1, P2, m). 3. Find the optimal amounts of good 1 and good 2 the consumer will choose if p1 = 1, p2 = 3 and m = 10.
1. The consumer's problem is to maximize their utility subject to their budget constraint. The problem can be formulated as follows: Maximize: u(x1, x2) = 5ln(x1) + 3ln(x2)
Subject to: p1x1 + p2x2 ≤ m
2. To determine the optimal choice of goods 1 and 2, we need to solve the consumer's optimization problem. We can use the Lagrange multiplier method to solve this constrained optimization problem. The Lagrangian function is:
L(x1, x2, λ) = 5ln(x1) + 3ln(x2) + λ(m - p1x1 - p2x2)
Taking the first-order conditions:
∂L/∂x1 = 5/x1 - λp1 = 0
∂L/∂x2 = 3/x2 - λp2 = 0
∂L/∂λ = m - p1x1 - p2x2 = 0
Solving these equations simultaneously, we can find the optimal values of x1 and x2.
3. Given p1 = 1, p2 = 3, and m = 10, we can substitute these values into the equations obtained from the Lagrangian method to find the optimal amounts of goods 1 and 2.
From ∂L/∂x1 = 5/x1 - λp1 = 0:
5/x1 = λ
From ∂L/∂x2 = 3/x2 - λp2 = 0:
3/x2 = 3λ
From ∂L/∂λ = m - p1x1 - p2x2 = 0:
10 - x1 - 3x2 = 0
Substituting the value of λ from the first equation into the second equation:
3/x2 = 5/x1
Rearranging the above equation:
x2 = (3/5)x1
Substituting the above equation into the third equation:
10 - x1 - 3[(3/5)x1] = 0
10 - x1 - (9/5)x1 = 0
10 - (14/5)x1 = 0
x1 = (5/14) * 10
x1 = 25/7
Substituting the value of x1 into x2 equation:
x2 = (3/5)(25/7)
x2 = 75/35
Therefore, the optimal amounts of goods 1 and 2 that the consumer will choose when p1 = 1, p2 = 3, and m = 10 are x1 = 25/7 and x2 = 75/35, respectively.
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Utilising the the main features of the unitary, pluralist and
radical perspectives of employment relations outline the role of
trade unions and its changing trends
The unitary, pluralist, and radical perspectives of employment relations have varying opinions on the role of trade unions. While the unitary perspective considers trade unions as potential disruptors, the pluralist perspective considers them as an important force.
The radical perspective, on the other hand, views trade unions as vehicles of revolution.
Employment relations can be viewed from three primary perspectives, namely unitary, pluralist, and radical perspectives. These perspectives have different views on the role of trade unions, which are organizations that work towards ensuring better wages, working conditions, and benefits for employees. Here's a look at the role of trade unions from these different perspectives:
1. Unitary Perspective: According to the unitary perspective, all members within an organization work towards a common goal. As a result, any external party such as a trade union that enters the picture may be viewed as a potential disruptor. In this sense, trade unions may not be considered as essential components of employment relations.
2. Pluralist Perspective: The pluralist perspective is in contrast to the unitary perspective, as it takes into consideration the diversity of goals and objectives among the different members of an organization. According to this perspective, trade unions are important forces that represent the interests of employees. By working with organizations, trade unions can help address the different needs of employees, thereby contributing to better employee relations.
3. Radical Perspective: The radical perspective views trade unions as vehicles of revolution, as it seeks to overthrow the existing capitalist system. According to this perspective, trade unions can help mobilize employees and lead to the creation of a new system that is fairer and more equitable.
Overall, the role of trade unions has been evolving with time. While trade unions were considered as essential forces during the early 20th century, their role has diminished over the years with the rise of globalization and the changing nature of work. Nevertheless, trade unions continue to play an important role in ensuring better working conditions, wages, and benefits for employees, especially in countries where labor laws are weak.
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explain the balance score card of loblow.
The balanced scorecard is a performance measurement tool that focuses on various business perspectives like financial, customer, internal processes, and learning and growth perspectives. This tool gives an integrated view of the entire organization, and it helps in linking the long-term strategy with the day-to-day activities of the business.
The scorecard is customized to suit the unique requirements of the organization.The Loblaw Companies Limited is a Canadian supermarket chain, and they use the balanced scorecard to measure their performance and growth. Loblaw's balanced scorecard focuses on four perspectives, which are financial, customer, internal business, and learning & growth perspectives.The financial perspective of the balanced scorecard measures the financial performance of the company. It measures the profitability and financial stability of the company.
Loblaw's financial perspective focuses on sales growth, operating margins, and return on capital employed.The customer perspective of the balanced scorecard measures the level of satisfaction of the customers. It measures the loyalty of the customers and the level of customer retention. customer perspective focuses on customer satisfaction and loyalty.Internal business perspective of the balanced scorecard measures the operational performance of the company. It measures the efficiency of the processes and the level of innovation.
Loblaw's internal business perspective focuses on supply chain management and innovation.The learning and growth perspective of the balanced scorecard measures the ability of the organization to innovate and learn. It measures the level of employee satisfaction and retention. Loblaw's learning and growth perspective focuses on employee satisfaction and retention.The balanced scorecard is a comprehensive tool that Loblaw uses to measure their performance. This tool helps in integrating the short-term and long-term objectives of the company.
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ons cess Tips cess Tips ack 4. Measuring GDP The following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2017, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach. Data (Billions of dollars) 13,321,4 3,368.0 2,350.2 2,928.6 Consumption (C) Investment (I) Exports (X) Imports (M) Net Exports of Goods and Services Government Purchases (G) Gross Domestic Product (GDP) 3,374.4 B
Gross Domestic Product (GDP) refers to the overall monetary value of all goods and services that are produced in a country in a particular year. It is calculated by summing up all the money spent on final goods and services. The different components of GDP include investments, government spending, onsumption, net exports of goods and services, and exports. The following table represents the data on consumption, investments, exports, imports, and government expenditures for the United States in 2017.
Data (Billions of dollars) Amount (in billions of dollars) Consumption (C) 13,321.4 Investment (I) 3,368.0 Exports (X) 2,350.2 Imports (M) 2,928.6 Net Exports of Goods and Services (X – M) -578.4 Government Purchases (G) - Gross Domestic Product (GDP) 19,463.2
Therefore, to calculate the GDP of the United States in 2017 using the expenditure approach, we will use the formula: GDP = C + I + G + (X – M), where C represents consumption, I represents investments, G represents government spending, X represents exports, and M represents imports.
Hence, GDP = 13,321.4 + 3,368.0 + (-578.4) + G
19,463.2 = 16,111 + G
Therefore, G = 3,352.2
Therefore, the GDP of the United States in 2017 using the expenditure approach was $19,463.2 billion. Investment was $3,368.0 billion. This information is the answer to the question "more about investment."Investment refers to the acquisition of goods that are not consumed today but are used to produce more goods and services in the future.
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Last month when Holiday Creations, Incorporated, sold 41,000 units, total sales were $164,000, total variable expenses were $124,640, and fixed expenses were $39,200. Required: 1. What is the company's contribution margin (CM) ratio? 2. What is the estimated change in the company's net operating income if it can increase sales volume by 375 units and total sales by $1,500? (Do not round intermediate calculations.) 1. Contribution margin ratio % 2. Estimated change in net operating income
1) The company's contribution margin (CM) ratio is 24.08%
2) The estimated change in the company's net operating income is $364.125.
1. The company's contribution margin (CM) ratio is:
CM ratio = (Total Sales - Total Variable Expenses) / Total Sales
CM ratio = ($164,000 - $124,640) / $164,000
CM ratio = 0.2408 = 24.08%
2. The estimated change in the company's net operating income can be calculated by using the following formula:
Estimated change in net operating income = (Contribution Margin x Additional units sold) + Original Net Operating Income
Where:
Contribution Margin = Total Sales - Total Variable Expenses
Contribution Margin per unit = Contribution Margin / Number of units sold
Original Net Operating Income = Total Sales - Total Variable Expenses - Fixed Expenses
Contribution Margin per unit = Contribution Margin / Number of units sold
Contribution Margin per unit = ($164,000 - $124,640) / 41,000 units = $0.97 per unit
Original Net Operating Income = $164,000 - $124,640 - $39,200 = $0.00
Estimated change in net operating income = ($0.97 x 375) + $0.00 + $1,500
Estimated change in net operating income = $364.125
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BC Corporation is considering replacing an existing machine with a new machine. The new machine can be purchased for $15 million and shipping and installation costs are another $500,000. The new machine will also require an initial $2 million investment in net operating working capital. The current after tax selling price of the existing machine is $3 million. What is the initial investment outlay (year zero cash flow) if the new equipment is purchased? O a. $15.5 million b. $14.5 million c. $17.5 million d. Cannot be determined from the information e. $17 million
The initial investment outlay (year zero cash flow) if the new equipment is purchased is $17.5 million. Option C is the correct answer.
To calculate the initial investment outlay, we need to consider the cost of the new machine, shipping and installation costs, and the initial investment in net operating working capital. The cost of the new machine is $15 million, and the shipping and installation costs are an additional $500,000. Therefore, the total cost of the new machine and associated expenses is $15.5 million.
In addition, the new machine requires an initial investment in net operating working capital of $2 million. Therefore, the initial investment outlay is $15.5 million + $2 million = $17.5 million.
Hence, the correct answer is option C, $17.5 million.
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Financial statement data for years ending December 31 for Newton Company follow: 20Y9 20Y8 Cash (end of year) $25,500 $24,250 Short-term investments (end of year) $8,270 $9,460 Operating expenses $60,135 $63,780 Depreciation expense $13,225 $11,400 Determine the days' cash on hand for 20Y8 and 20Y9. Round all calculations to one decimal place.
The days' cash on hand for 20Y8 is approximately 0.0014 days, and for 20Y9, it is approximately 0.0015 days.
To decide the days' money available for 20Y8 and 20Y9, we really want to work out the normal day to day cash in light of the money and momentary ventures toward the year's end and the working costs.
Days' Money Close by (DCH) recipe: Normal Everyday Money = (Money + Transient Speculations)/365
For 20Y8:
Normal Everyday Money = ($24,250 + $9,460)/365
Normal Everyday Money = $33,710/365
Normal Everyday Money ≈ $92.38
DCH 20Y8 = Normal Everyday Money/Working Costs
DCH 20Y8 = $92.38/$63,780
DCH 20Y8 ≈ 0.0014
For 20Y9:
Normal Everyday Money = ($25,500 + $8,270)/365
Normal Everyday Money = $33,770/365
Normal Everyday Money ≈ $92.49
DCH 20Y9 = Normal Everyday Money/Working Costs
DCH 20Y9 = $92.49/$60,135
DCH 20Y9 ≈ 0.0015
In this manner, the days' money available for 20Y8 is roughly 0.0014 days, and for 20Y9, it is around 0.0015 days. This shows the quantity of long periods of money accessible to cover the organization's working costs.
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4. What prevents you from using the principles more frequently?
(4 marks-no more than 100 words)
The principles of communication are the foundation of effective communication. In order to be able to use them frequently, one needs to have a good understanding of them.
Some of the factors that may prevent an individual from using these principles frequently include:1. Lack of knowledge: A lack of knowledge about the principles of communication can prevent an individual from using them frequently. If someone is not aware of the principles, they may not know how to apply them.
2. Lack of practice: Even if someone knows the principles of communication, they may not use them frequently if they do not practice them regularly. Like any skill, communication requires practice to become proficient.
3. Emotional barriers: Sometimes, emotional barriers such as fear or anxiety can prevent an individual from using the principles of communication. If someone is nervous or anxious, they may have difficulty applying the principles effectively.
4. Cultural differences: Cultural differences can also prevent an individual from using the principles of communication frequently. Different cultures may have different communication styles and norms, and someone may not feel comfortable using the principles in a different cultural context.
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Other than Walmart, find another company that also "win" using
the cost leadership strategy. Describe the business and its
strategy.
Cost leadership is a tactic of business-level strategy that businesses utilize to sell products or services at a low cost relative to their competitors, while retaining enough profit to stay afloat. Walmart is one of the top firms that uses a cost leadership plan to keep its prices low.
which is why it is often cited as an example business that employs the cost leadership approach is Southwest Airlines. Southwest Airlines, headquartered in Dallas, Texas, is a budget airline that has been operating since 1967. Its low-cost business model aims to provide lower fares to customers while also keeping costs low. Southwest has been able to keep its fares low by cutting expenses in several areas and implementing innovative business practices. For instance, the company only flies one type of airplane, which minimizes maintenance and training expenses.
The organization also ensures that its flights are running at optimum capacity by offering frequent flights on popular routes and by encouraging customers to use online services to print boarding passes and check in for flights. These and other cost-cutting measures enable Southwest to keep its fares low while still making a profit.Explanation:Cost leadership is a company-level strategy that firms employ to increase market share and profits by selling goods or services at a lower price than their competitors. Walmart and Southwest Airlines are two well-known examples of businesses that employ this approach.Walmart is one of the top businesses that use the cost leadership strategy. The company's low prices are made feasible by the fact that it has a large supply chain, which allows it to purchase goods in bulk at lower costs. Additionally, the organization has invested heavily in developing supply chain management systems that help it to maintain low inventory costs. As a result, Walmart can offer goods at lower prices while still earning a profit. Southwest Airlines, on the other hand, utilizes a unique cost-cutting plan to provide lower fares to customers while keeping costs low.
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Factors why people non-compliance tax for paying? (5 factors with examples)
The Five factors that contribute to non-compliance with tax laws are Rising or High Tax Burden, Lack of Knowledge of Tax Laws, Complexity of Tax Laws, Tax Evasion, and a Weak Tax System.
A Rising or High Tax Burden: Individuals and organizations will tend to be non-compliant with tax laws when the taxes are deemed to be high as compared with the cost of living.
Lack of Knowledge of Tax Laws: it focuses on the unintentional failure of a taxpayer to comply with tax laws. For example when a small or medium enterprise does not know that it is required to be registered and as such pay taxes for running the business.
The complexity of Tax Laws: low-income taxpayers who cannot afford to employ tax agents who could help to understand basic laws and even routine mathematical operations, and interpreting the tax tables may present problems.
Tax Evasion: The failure to declare taxable activity or income is known as Tax evasion.
Weak Tax System: This can also lead to intentional non-compliance with tax laws as taxpayers can utilize loopholes in the tax system.
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Douglas pays Selena $43,900 for her 28% interest in a partnership with net assets of $125,600. Following this transaction, Douglas's capital account should have a credit balance of a. $43,900 Ob. $35,168 Oc. $125,600 Od. $12,292
To determine the credit balance of Douglas's capital account after paying Selena for her interest in the partnership, we need to calculate Douglas's capital account balance before the transaction and then adjust it accordingly.
The net assets of the partnership are given as $125,600, and Selena owns a 28% interest in the partnership. Therefore, Selena's share of the net assets can be calculated as:
Selena's share = 28% of net assets = 0.28 * $125,600 = $35,168
This means that Selena's interest is valued at $35,168.
Now, let's calculate the balance of Douglas's capital account before the transaction. Since Selena is selling her interest to Douglas, the total value of the partnership's net assets remains the same.
Douglas's capital account before the transaction = Net assets - Selena's interest
Douglas's capital account before the transaction = $125,600 - $35,168 = $90,432
Finally, we can determine the credit balance of Douglas's capital account after the transaction by subtracting the amount paid to Selena ($43,900) from the balance before the transaction:
Douglas's capital account after the transaction = Douglas's capital account before the transaction - Amount paid to Selena
Douglas's capital account after the transaction = $90,432 - $43,900 = $46,532
Therefore, the correct answer is:
c. $125,600
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Hind has extensive experience and knowledge in ergonomic product design. Though she is not a manager, she is often called on by product managers to offer advice on ergonomic features for new products. It can be said that Hind has _____________ power in ergonomic product design. Referent Transformational Behavioral Expert
Hind has expert power in ergonomic product design. Expert power is the influence one has on others by virtue of one’s perceived expertise on the subject matter at hand. It can be said that Hind has expert power in ergonomic product design because she possesses extensive experience and knowledge in this field.
As per the given information, Hind is not a manager, but she is often called on by product managers to offer advice on ergonomic features for new products. It indicates that Hind has significant knowledge and experience in ergonomic product design, and her opinions are valued by other managers. As such, she can influence their decision-making process when it comes to ergonomic product design, using her expert power. She is an expert in her field, and her input is valued.
Hind has expert power in ergonomic product design . She has extensive knowledge and experience in this area, and her opinions are sought after by product managers, who hold her in high esteem. Expert power is a critical aspect of leadership, and it can have a significant impact on an individual’s ability to influence others.
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Given the AD/AS framework described by: Ỹ = a - bm(πt - π) TH = TH HUY tôi Which parameter would you change in the model, if the Central Bank decides to be more aggressive in fighting inflation when they conduct monetary policy?
b
v
πt
m
a
o
By increasing the parameter "b," the Central Bank can signal its commitment to controlling inflation and ensure that changes in inflation have a stronger effect on output. Therefore option (A) is correct answer.
If the Central Bank decides to be more aggressive in fighting inflation when conducting monetary policy within the AD/AS framework described by Ỹ = a - bm(πt - π), the parameter that would need to be changed is the parameter "b."
In the given equation, "b" represents the sensitivity of output (Ỹ) to changes in the inflation gap (πt - π). A higher value of "b" indicates a greater responsiveness of output to changes in the inflation gap.
By increasing the value of "b," the Central Bank can make the output (Ỹ) more responsive to changes in the inflation gap (πt - π). This means that even small changes in the inflation gap would have a larger impact on output.
By being more aggressive in fighting inflation, the Central Bank aims to reduce the inflation gap and stabilize the economy. Therefore, to be more aggressive in fighting inflation, the Central Bank should increase the value of the parameter "b" in the AD/AS framework. Option (A) is correct answer.
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explain what influences the effectiveness of monetary and fiscal
policy using appropriate diagrams.
The effectiveness of both monetary and fiscal policies can be influenced by the economic conditions, expectations, and other complex factors.
Monetary and fiscal policies are two key tools used by governments and central banks to influence the overall state of the economy. The effectiveness of these policies can be influenced by various factors. Let's explore these factors and their impact using appropriate diagrams.
1. Monetary Policy:Monetary policy refers to the actions taken by a central bank to regulate the money supply, interest rates, and credit availability. The effectiveness of monetary policy can be influenced by the following factors:
a) Interest Rate Elasticity of Investment and Consumption:
Monetary policy works through changes in interest rates to influence investment and consumption decisions. The effectiveness of monetary policy depends on the responsiveness of investment and consumption to changes in interest rates. If investment and consumption are highly sensitive to interest rate changes (elastic), monetary policy can be effective in stimulating or slowing down economic activity. The diagram below illustrates this relationship:
Investment and Consumption
|
↑ |
↓ Monetary Policy ↑
↓ |
|
Interest Rate
If the investment and consumption curves are steep (high elasticity), a change in interest rates will have a significant impact on these components, making monetary policy more effective. However, if the curves are flatter (low elasticity), monetary policy may have limited effectiveness in influencing investment and consumption.
b) Liquidity Trap:
In a liquidity trap, interest rates are already very low, and conventional monetary policy measures, such as reducing interest rates, become less effective. This situation occurs when individuals and businesses are reluctant to invest or spend even with low interest rates due to pessimistic economic expectations or uncertainty. The diagram below illustrates the liquidity trap:
Investment and Consumption
|
↓ |
↓ Monetary Policy ↓
↓ |
|
Interest Rate
In the liquidity trap, monetary policy may have limited effectiveness, as reducing interest rates further may have little impact on investment and consumption.
2. Fiscal Policy:Fiscal policy refers to government decisions regarding taxation and government spending to influence economic activity. The effectiveness of fiscal policy can be influenced by the following factors:
a) Multiplier Effect:
Fiscal policy has a multiplier effect, meaning that changes in government spending or taxation can lead to larger changes in aggregate demand. The effectiveness of fiscal policy depends on the size of the fiscal multiplier. A higher fiscal multiplier implies that a given change in government spending or taxation will have a larger impact on overall economic activity. The diagram below illustrates the multiplier effect:
Real GDP
|
↑ |
↑ Fiscal Policy ↑
↑ |
|
Government Spending or Taxation
If the fiscal multiplier is high, fiscal policy measures can have a significant impact on increasing or decreasing real GDP. Conversely, if the fiscal multiplier is low, the effectiveness of fiscal policy may be limited.
b) Crowding-Out Effect:
Fiscal policy can also be influenced by the crowding-out effect. When the government increases spending, it may borrow money, leading to increased demand for loans. This increased demand for loans can push up interest rates and crowd out private investment. The diagram below illustrates the crowding-out effect:
Investment
|
↓ |
↑ Fiscal Policy ↑
↑ |
|
Interest Rate
If the crowding-out effect is strong, increased government spending may lead to higher interest rates and reduce private investment, limiting the effectiveness of fiscal policy.
It's important to note that the effectiveness of both monetary and fiscal policies can be influenced by the economic conditions, expectations, and other complex factors. The diagrams provided here offer simplified illustrations of the key factors at play, but real-world scenarios can involve more intricacies and interdependencies.
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