Answer:
a. Chun Kumora's salary in ten years=$72,571.48
b. Chun Kumora's salary in twenty years=$97,530.01
c. Amount of raise Chun needs to receive next year=$1,620
d. Amount of raise Chun needs to receive the year after=$3,288.60
Explanation:
When choosing a career, there are various factors that need to be considered. One such factor is the salary. The expected salary should match with the salary average salary in the market. In our case, the annual salary is expected to be $54,000, but in order to estimate future salary requirements, the inflation rate has to be considered since the value of money reduces with time. Lets solve Chun Kumora's case as follows;
a. Salary in ten Years
The future value of the $54,000 salary in ten years while accounting for inflation can be expressed as;
F.V=P.V(1+r)^n
where;
F.V=future value
P.V=present value
r=inflation rate
n=number of years
In our case;
F.V=unknown, yet to be determined
P.V=$54,000
r=3%=3/100=0.03
n=10 years
replacing;
F.V=54,000(1+0.03)^10
F.V=54,000(1.03)^10
F.V=$72,571.48
Chun Kumora's salary in ten years=$72,571.48
b. Salary in twenty Years
The future value of the $54,000 salary in twenty years while accounting for inflation can be expressed as;
F.V=P.V(1+r)^n
where;
F.V=future value
P.V=present value
r=inflation rate
n=number of years
In our case;
F.V=unknown, yet to be determined
P.V=$54,000
r=3%=3/100=0.03
n=20 years
replacing;
F.V=54,000(1+0.03)^20
F.V=54,000(1.03)^20
F.V=$97,530.01
Chun Kumora's salary in twenty years=$97,530.01
c.
Amount of raise Chun needs to receive next year;
In our case;
F.V=unknown, yet to be determined
P.V=$54,000
r=3%=3/100=0.03
n=1 year
replacing;
F.V=54,000(1+0.03)^1
F.V=54,000(1.03)^1
F.V=$55,620
Raise=Amount next year-current amount
where;
Amount next year=$55,620
current amount=$54,000
replacing;
Raise=56,620-54,000=$1,620
d.
Amount of raise Chun needs to receive the year after;
In our case;
F.V=unknown, yet to be determined
P.V=$54,000
r=3%=3/100=0.03
n=2 year
replacing;
F.V=54,000(1+0.03)^2
F.V=54,000(1.03)^2
F.V=$57,288.60
Raise=Amount next year-current amount
where;
Amount next year=$57,288.60
current amount=$54,000
replacing;
Raise=$57,288.60-54,000=$3,288.60
Chun's salary in 10 years could potentially become $72,597, Chun's salary in 20 years could potentially become $97,715 and To maintain his purchasing power, Chun needs to receive a raise of $1,620 next year and $1,620 the year after, to keep pace with the 3% inflation rate.
The formula for future value with inflation:
[tex]\[ \text{Future Value} = \text{Present Value} \times (1 + \text{Inflation Rate})^{\text{Number of Years}} \][/tex]
alary in 10 years:
[tex]\[ \text{Future Salary in 10 years} = 54,000 \times (1 + 0.03)^{10} \][/tex]
[tex]\[ \text{Future Salary in 10 years} = 54,000 \times (1.03)^{10} \][/tex]
[tex]\[ \text{Future Salary in 10 years} \approx 54,000 \times 1.3439 \][/tex]
[tex]\[ \text{Future Salary in 10 years} \approx \$72,597 \][/tex]
Salary in 20 years:
[tex]\[ \text{Future Salary in 20 years} = 54,000 \times (1 + 0.03)^{20} \][/tex]
[tex]\[ \text{Future Salary in 20 years} = 54,000 \times (1.03)^{20} \][/tex]
[tex]\[ \text{Future Salary in 20 years} \approx 54,000 \times 1.8061 \][/tex]
[tex]\[ \text{Future Salary in 20 years} \approx \$97,715 \][/tex]
Required Cost-of-Living Raise:
To maintain Chun's purchasing power (in real terms, adjusting for inflation), he needs to receive a raise that matches or exceeds the inflation rate each year.
Next Year's Raise:
The raise Chun needs next year to keep up with inflation can be calculated as:
[tex]\[ \text{Raise Next Year} = 54,000 \times 0.03 \][/tex]
[tex]\[ \text{Raise Next Year} = \$1,620 \][/tex]
Following Year's Raise:
Similarly, the raise Chun needs the year after would also be:
[tex]\[ \text{Raise Following Year} = 54,000 \times 0.03 \][/tex]
[tex]\[ \text{Raise Following Year} = \$1,620 \][/tex]
Suppose the cost of flying a 100-seat plane for an airline is $50,000 and there are 10 empty seats on a flight. The marginal cost of flying a passenger is
Answer:
Cannot be determined
Explanation:
Given information
Cost of flying a 100 seat plane = $50,000
Number of empty seats on a flight = 10 seats
By this above information, we cannot determine the marginal cost of flying a passenger as full information is not given
But from this above information, we can find out the average cost which is not need be computed
The marginal cost of flying a passenger is $555.56.
Explanation:The marginal cost of flying a passenger is the additional cost incurred by the airline for carrying one more passenger on a flight.
In this case, the total cost of flying the plane is $50,000 and there are 10 empty seats. Therefore, the cost per passenger can be calculated as follows:
Cost per passenger = Total cost / Number of passengers
Number of passengers = Total seats - Empty seats = 100 - 10 = 90
Cost per passenger = $50,000 / 90 = $555.56
Learn more about Marginal cost here:https://brainly.com/question/32591118
#SPJ3
A statement that makes a factual claim about how the world actually works is called a positive statementA statement that makes a claim about how the world should be is called a normative statement Innovation refers too A new producto A truly new idea
Answer:
A statement that makes a factual claim about how the world actually works is called a positive statement. A statement that makes a claim about how the world should be is called a normative statement TRUE
Innovation refers to: a new product or service
Explanation:
Positive statements can be tested, and therefore they can be corrected. E.g. the US economy is the largest in the world.
Normative statements are based on values, judgments, and opinions, there is no clear right or wrong. E.g. the US economy is the best in the world.
In order for a new idea to become an innovation, it must be converted into a new product or service, or improve an existing product or service. Science generates ideas, but technology is the application of those ideas, it generates innovations.
In Social Studies, positive statements make factual claims about how the world works, while normative statements express opinions about how the world should be. Innovation refers to new products or ideas that bring about change and improvement.
Explanation:In Social Studies, a statement that makes a factual claim about how the world actually works is called a positive statement. It is based on evidence and can be proven true or false. On the other hand, a statement that makes a claim about how the world should be is called a normative statement, which is subjective and opinion-based.
In terms of innovation, it refers to a new product or a truly new idea that brings about change and improvement. Innovation can occur in various fields such as technology, science, and business.
Learn more about positive and normative statements here:https://brainly.com/question/32415942
#SPJ3
In a purely competitive industry:
a. There will be no economic profits in either the short run or the long run.
b. Economic profits may persist in the long run if consumer demand is strong and stable.
c. There may be economic profits in the short run, but not in the long run.
d. There may be economic profits in the long run, but not in the short run.
Answer:
C. There may be economic profits in the short run, but not in the long run.
Explanation:
Perfect Competition is a market structure with very large no of buyers & sellers, transacting homogeneous products, at same price (firms 'price taker') & inelastic demand, with free entry & exit into industry.
Economic profit is the profit earned above normal profit - covering revenues over explicit & implicit costs, necessary to continue business operations.
Free entry & exit into Perfect Competition Industry makes them earn only normal profits - no super normal (economic) profit , abnormal loss in long run
Short Run Economic Profits : Induces new firms entry and supply increases, reducing the industry & firms' price. This reduces their profit & resumes back the normal profits.
Similarly - Short Run Abnormal Losses : Induce existing firms exit, will reduce supply, increase price & profit, resume back to normal profits.
In a purely competitive industry, there may be economic profits in the short run, but not in the long run. Short-term profits can result from high demand, cost advantages, etc., but these attract more firms, increasing competition and eventually leading to only normal profits.
Explanation:In a purely competitive industry, option c is correct: there may be economic profits in the short run, but not in the long run. This is because in the short term, companies can realize economic profits due to factors such as high consumer demand, cost advantages, product differentiation, and more. However, these profits attract other firms into the industry, increasing competition. As more firms enter, the price reduces until it reaches a level where only normal profits are made. A normal profit is wherein the return on investment is just sufficient to keep entrepreneurs in the business, without any extra incentive for risk-taking in the long run.
Learn more about purely competitive industry here:https://brainly.com/question/33448755
#SPJ6
______ early decisions significantly affect the way an entrepreneurial venture is received and the manner in which the new-venture team takes shape.
Answer:
Founders'
Explanation:Founders' decision plays a significant role in setting the new venture set up. For this setting, the founders' quality and size of the foundation team are the most important pillars.
The decision on foundation i.e time at which venture has to start is decided by the collective decision of the founder's team. The major of the team is to bring a candidate that is full of enthusiasm, talent, self-determination, etc.
During the starting phase of any new firm is very crucial hence qualities of founders play a very important role during early time of the company.
Equipment, real estate, and construction are examples of capital acquisitions, but information technology is not.A. TrueB. False
Answer:
False. Even Information Technology can be considered as capital acquisition.
Explanation:
Capital acquisition means the way through which new assets are purchased for business expansion and growth.
Equipments, real estate and construction are all tangible assets and considered as capital assets whose life is usually greater than 1 year.
Any acquisition which serves a business for long term which is generally for more than one year shall be termed as capital acquisition.
Even software and patents acquired can be termed as capital acquisition if useful life of those exceeds an year.
Thus, Information technology can be considered a capital acquisition if it's useful life for business is more than an year.
Mary Parker Follett’s contribution to administrative theory was emphasizing the need for worker participation, ______, and ______.
a) conflict resolution; fairness.b) fairness; shared goals.c) shared goals; distinct operating activities.d) conflict resolition; shared goals.
Answer:
d) conflict resolution; shared goals.
Explanation:
Mary Parker Follett’s contribution to administrative theory was emphasizing the need for worker participation,conflict resolution, and shared resolution.
Mary Parker Follett, or the "Mother of Modern Management," presumed that management was "the creative work of getting people to do things for you." .. Follett exercised those coordination principles, which helped establish her management theory called direct contact.
A company provides customer support for new products and for routine maintenance of existing products. These cases have many identical stages and fields, however, the maintenance cases are unique and have additional stages and fields that need to be captured. Which two features would meet this requirement?
Answer:
A company provides customer support for new products and for routine maintenance of existing products. These cases have many identical stages and fields, however, the maintenance cases are unique and have additional stages and fields that need to be captured. The two features would meet this requirement are:
Record TypesSupport TypesExplanation:
Record Types in Salesforce allow you to provide different picklist values, business processes and page layouts to different users. For example, you can create different record types to differentiate your regular sales deals from your professional services engagements, offering different picklist values for each.Support Types are used to add or remove the "status" picklist values. A support process is determined by the the picklist values available in the status of a case record type. We can modify the status field only in a support process as we are unable to customize it on record type.Mike supervises the work of employees working the night shift in an auto manufacturing company. Most of Mike's time is spent on quality control, scheduling workers, and training new employees. Mike can be categorized as a:___________.
Answer:
First line manager
Explanation:
First line managers are responsible for operation of their departments by assigning tasks, managing work flow, monitoring the quality of work, dealing with employee problems, and keeping the middle managers and executive managers informed of problems.
In this case, Mike is doing exactly that by supervising the work and dealing with quality control, handling employee issues.
Which of the following are financial assets, and which are real assets? a.A patent. b.A share of stock issued by Wells Fargo Bank. c.A blast furnace in a steelmaking factory. d.A mortgage loan taken out to help pay for a new home. e.After a successful advertising campaign, potential customers trust FedEx to deliver packages promptly and reliably. f.An IOU ("I owe you") from your brother-in-law.
Financial assets: b. A share of stock issued by Wells Fargo Bank, d. A mortgage loan taken out to help pay for a new home, f. An IOU from your brother-in-law.
Real assets: a. A patent, c. A blast furnace in a steelmaking factory, e. After a successful advertising campaign, potential customers trust FedEx.
The classification of assets into financial or real assets depends on their nature and characteristics:
Financial Assets:
a. A patent: This is a financial asset. It represents intellectual property rights and has a financial value that can be bought, sold, or licensed.
b. A share of stock issued by Wells Fargo Bank: This is a financial asset. It represents ownership in a company and can be bought or sold in financial markets.
d. A mortgage loan taken out to help pay for a new home: This is a financial asset. It represents a financial claim on the borrower's home and can be bought and sold in financial markets.
e. After a successful advertising campaign, potential customers trust FedEx to deliver packages promptly and reliably: This is not a financial asset.
It represents a reputation or goodwill, which is an intangible asset but not a financial one.
f. An IOU ("I owe you") from your brother-in-law: This is a financial asset. It represents a financial claim on your brother-in-law, indicating that he owes you money.
Real Assets:
c. A blast furnace in a steelmaking factory: This is a real asset. It represents a physical asset used in the production of goods and services.
On December 31st, Management decides to sell one piece of equipment with a historical cost of $15,000, and accumulated depreciation of $3,000. At the end of its useful life this equipment was previously deemed to have no salvage value. Cash proceeds on this sale were $10,000.
Transaction has not been recorded.
Answer:
The transaction is not recorded so we will record the transaction. The accounting entry to record diposal is given below.
Debit Cash Asset $ 10,000
Debit Accumulated Depreciation $ 3,000
Debit loss on disposal $ 2,000
Credit equipment Cost $ 15,000
Zinc Co.’s adjusted trial balance at December 31, Year 6, includes the following account balances: Common stock, $3 par $600,000 Additional paid-in capital 800,000 Treasury stock, at cost 50,000 Net unrealized holding loss on available-for-sale securities 20,000 Retained earnings: Appropriated for uninsured earthquake losses 150,000 Retained earnings: Unappropriated 200,000 What amount should Zinc report as total equity in its December 31, Year 6, balance sheet?a. $1,680,000
b. $1,720,000
c. $1,780,000
d. $1,820,000
Answer:
a. $1,680,000
Explanation:
The computation of the total equity is shown below:
= Common stock + Additional paid-in capital + Appropriated for uninsured earthquake losses retained earnings + Unappropriated retained earnings - treasury stock - Net unrealized holding loss on available-for-sale securities
= $600,000 + $800,000 + $150,000 + $200,000 - $50,000 - $20,000
= $1,750,000 - $70,000
= $1,680,000
Macy's (the department store chain) classifies its clothing held for sale as A. raw materials inventory. B. finished goods inventory. C. work in process inventory. D. merchandise inventory.
Answer: Merchandise Inventory
Explanation:
Merchandise inventory are finished products purchased by a business for which they plan to sell at a higher price than cost price. The clothing held for sale at Macy's department store is an example of merchandise inventory.
A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________. Group of answer choices a) membership b) group reference c) group subculture d) laggard.
Answer:
The correct answer is option (B).
Explanation:
According to the scenario, the most appropriate answer is option (B) because the member of the music band when it comes to advertisement wearing particular company shoes, it becomes a reference for the fans of that band and shoe company sales increases.
While the other options are not appropriate because of the following reasons:
Membership is a concept to get a subscription or become a customer but the scenario doesn't show any type of membership with the band. Group subculture is incorrect because subculture is a concept where there are differences within the same culture. Laggard is incorrect because the members of the band is not copying anyone.Adam Smith a. and David Ricardo both opposed free trade. b. opposed free trade, but David Ricardo supported it. c. supported free trade, but David Ricardo opposed it. d. and David Ricardo both supported free trade.
Answer:
Adam Smith;
d. and David Ricardo both supported free trade
Explanation:
A free market is a market where international trade relations is subjected minimal interference from the government. Government interference are usually in the form of tariffs, quotas and other restrictions. Adam Smith was a staunch advocate of free trade. He argued that people were ca[able of reasoning and thus should object to unreasonable government regulations on them. Using the policy of Laissez-Faire which argued that government intervention on the economy should be minimal. According to Smith, the natural laws of supply and demand should take cause to balance the market properly.
David Ricardo was also a strong advocate for free trade. He use the theory of comparative advantage to prove his point. The law of comparative advantage states that one needs when one country can produce a good or service at a lower cost than the other country, then they have comparative advantage over that country. Therefor they will produce more of that good that they have an advantage over as compared to another good or service that is more costly. This law he argued could be used in international free trade.
We can conclude that Adam Smith and David Ricardo supported the concept of free trade.
Answer:
uhhhh
Explanation:
c?
A company sells horse shoes. The company's fixed and variable costs are modeled by the function C(x)=5.6x+1,200. Their revenue is modeled by the function R(x)=7.4x. If x represents the number of horse shoes, how many do they have to sell to break even? Round your answer up to the nearest whole number, and do not include units.
Answer:
667 horse shoes
Explanation:
Given that,
The company's fixed and variable costs are modeled by the function
Cost function: C(x) = 5.6x + 1,200
Revenue function: R(x) = 7.4x
x ⇒ represents the number of horse shoes
For break even,
Cost = Revenue
5.6x + 1,200 = 7.4x
7.4x - 5.6x = 1,200
1.8x = 1,200
x = 667
Therefore, they have to sell 667 horse shoes to break even.
The process of getting, training, appraising, and compensating employees, and of attending to their labor relations, health and safety, and fairness concerns is known as:
Answer:
The correct answer is "Human Resource Management (HRM)".
Explanation:
Human resource management ( HRM) can be defined as the management process in a company that helps in completing company goals by maximizing the employees' performance in achieving their goals.
Human resource management works for mainly 5 basic functions. i.e.
Planning: Planning is a concept where plans and rules are developed to achieve the goals.
Organizing: Organizing is a concept that shows the chain and channel of communication and work order for employees.
Staffing: Staffing shows the concept of hiring of employees according to the company needs.
Leading: Leading shows the concept of motivating and appraising employees.
Controlling: Controlling shows the concept of controlling the manpower so that company goals for sales and quality can achieve.
Answer:
The process of getting, training, appraising, and compensating employees, and of attending to their labor relations, health and safety, and fairness concerns is known as Human Resource Management.
Explanation:
(1) Human Resource Management is basically the management of the processes from start to end with respect to the people thought to be a part of the organization in the near future. The starting processes include getting, training and compensating people also and the end processes include compensating employees, attending to their labor relations, health and safety and fairness concerns.
(2) Human Resources i.e. the people are the biggest asset of an organization and thus are referred to as Human Capital. Their good management can make the smaller businesses rise to bigger businesses. The objectives of the organisation and the human resources should move side by side in, so that both the organisation and the people in it can prosper.
Hence, we can say that human resource management is the key which makes differences between a successful organization and a failed organization possible.
Which of the following is not one of the factors holding companies back from implementing HR SaaS solutions to efficiently transform and improve the HR function?a. Securityb. Quality of servicec. Concern about integration with inhouse applicationsd. Costs
Answer: (D) Costs
Explanation:
The human resource management is one the most important department in an organization that perform various types of function. The HR management effectively used the SaaS (Software-as-a-Service) solutions for improving the various types of human resource function n an organization.
By using the SaaS solutions we can also oversee all the activities done in the company as it is one of the most unified tool.
According to question, the costs is not included as the factor holding method for implementing the human resource SaaS solutions in an organization.
Therefore, Option (D) is correct answer.
Without adjusting for PPP, emerging economies contribute about 30% of the global GDP. Adjusting for PPP, they now contribute approximately 50% of the global GDP. The reason there is a huge difference between the two measures is because
Answer:
A) the cost of living in emerging economies tends to be lower than that in developed economies.
Explanation:
It is usually cheaper to live in emerging countries than on developed countries. Generally speaking, the salaries in emerging countries are much lower than salaries at developed nations, for example a Chinese worker earns on average approximate $12,077 per year, while an American worker earns $44,720 per year. Chinese workers live with their salary and their families also live with it, so we can assume that living in China is cheaper than living in the US.
The purchasing power parity (PPP) is adjusted by the difference in relative prices between countries, e.g. a house in Switzerland costs 10 times as much as a house in Mexico.
If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $11,000 to purchase those identical goods in 2015, then the price index for 2015 is _________.
Answer:
110
Explanation:
The computation of the price index is presented below:
= (Cost of purchase those identical goods in 2015) ÷ (Cost to purchase the items in 2014) × 100
= ($11,000) ÷ ($10,000) × 100
= ($11,000) ÷ ($10,000) × 100
= 110
We simply applied the above formula so that the price index could come by considering the cost of 2014 and cost of 2015
The amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the seller's store to be available for sale is referred to as___________.
Answer:
lead time
Explanation:
Lead time -
It refers to the time period between the initiation and the completion of a particular process , is referred to as lead time.
In case of ordering any object , the time period after ordering , and then receiving the object , is known as the lead time.
In a business , the time of manufacturing any item , packaging and delivering is the lead time .
Hence , from the scenario of the question,
The correct term is lead time.
Companies typically start their international foray with ________, which involves working through independent intermediaries who sell their products abroad.
a) indirect exportingb) licensingc) franchisingd) direct exportinge) joint ventures
Answer:
A. Indirect exporting
Explanation:
An indirect export is a method of selling in the international market by a company in which they sell their products to an individual or an organisation that will act as an intermediary between the company and its potential customers in that country. It is most a method of entering a new market and it is most useful because it comes with lesser cost and risk as these risks and costs is transferred to the intermediaries acting on behalf of the company in that country.
By definition, the money market involves the buying and selling of ________. A. shortminus term securities B. secured premium notes C. stocks and bonds D. all financial instruments except derivatives
Answer:
A. short term securities
Explanation:
By definition, the money market involves the buying and selling of short term securities.
Money market refers to the trade in short-term loans that happens between banks and other financial institutions. It is a mutual fund that invests in short-term debt securities like treasury bills and commercial paper. This can happen on wholesale or retail level. On wholesale level, trade happens in large-volumes between institutions and traders while on retail level, it trade happens between money market accounts opened by bank customersand individual investors.
The money market involves the buying and selling of short term securities
Money market is one of the most important part of of the financial market as it involves the buying and selling of securities of short-term maturities, of one year or less e.g. as treasury bills
Conclusively we can therefore say that Money market is simply the trading in very short-term debt investments or securities.
Learn more from
https://brainly.com/question/22458433
Fletcher is an executive at Fresnas Inc., a clothing manufacturer. He communicates with clients to analyze what features consumers desire. Additionally, he records the quality improvements that consumers and clients suggest. In this scenario, Fletcher is trying to:a. differentiate heavy users from light users. b. select the target market. c. learn whether consumers are currently satisfied with the offerings. d. differentiate the brand from the competition.e. identify the size and profitability of each consumer segment.
Answer:
C) learn whether consumers are currently satisfied with the offerings.
Explanation:
Fletcher is basically conducting a survey to determine consumer satisfaction, preferences and suggested improvements. It is very important to periodically perform consumer satisfaction surveys to get feedback about changing consumer expectations.
Consumers very quickly assume that better services or better products should be the norm. For example, a PC manufacturer starts to expand their product warranty from one year (industry standard) to three years. Soon customers will expect that all PC manufacturers offer the three year warranty.
If consumer expectations are important for most goods and services, they are vital and extremely important for clothing manufacturers. Clothing styles change every season, so consumers expect radical positive changes every few months.
Managers’ responsibilities in an organization include decision making and continuous feedback. Of the three direct responsibilities of a manager, which one covered comparing the actual results to the budget the manger is responsible for?
Answer:
It is called controlling
Explanation:
Controlling has to do with ensuring that actual result is in line with target objectives or budget and where there is variance, this is investigated and corrective actions are taken .
Sometimes, this is called management by objectives. At the beginning of the period, budgets are prepared but most times, things may not work out as planned. Hence, there is need for controlling the results to ensure that organization's objectives are ultimately achieved.
Consider Paul's decision to go to college. If he goes to college, he will spend $90,000 on tuition, $15,000 on room and board, and $7,000 on books. If he does not go to college, he will earn $22,000 working at a construction job and he will spend $11,000 on room and board. Paul's cost of going to college is A. $96,000. B. $123,000. C. $110,000. D. $114,000.
Answer:
B. $123,000
Explanation:
The computation of the Paul's cost of going to college is presented below:
= Tuition fees + room and board charges + books expenses + earning as a construction job - room and board charges
= $90,000 + $15,000 + $7,000 + $22,000 - $11,000
= $123,000
We simply deduct the room and board charges while working as a construction job and the other items would be added
The cost of Paul going to college, considering both his college expenses and the opportunity cost of lost salary and living expenses if he doesn't go to college, amounts to $123,000.
Explanation:The subject of this question is Mathematics, specifically in the area of cost analysis. When considering the cost of going to college, Paul needs to account for all the expenses associated with college, including tuition, room and board, and books. Therefore, his total expenditure for going to college would be the sum of these costs, which is $90,000 (tuition) + $15,000 (room and board) + $7,000 (books) = $112,000. However, if Paul chooses not to go to college, he wouldn't just save on these expenses. He would also earn a salary from his construction job, and his room and board expenses will still exist. In this case, his effective cost (if he doesn't go to college) would be his lost salary minus his room and board expenses, which is $22,000 (salary) - $11,000 (room and board) = $11,000. So, the actual cost to Paul for going to college, considering what he would earn and spend if he doesn't go to college, is $112,000 (college costs) + $11,000 (net cost if not going to college) = $123,000. Therefore, the correct answer is B. $123,000.
Learn more about Cost Analysis here:https://brainly.com/question/34407434
#SPJ3
Savvy Skin Care, a U.S.-based beauty products manufacturer, has set up a manufacturing plant in Hong Kong. This is an example of_________.
a.global rivalry.
b.the globalization of markets.
c.exporting.
d.foreign direct investment.
e.international trade.
Answer:
Foreign Direct Investment
Explanation:
If Savvy Skin Care, is a U.S.-based beauty products manufacturer and has set up a manufacturing plant in Hong Kong. This is an example of Foreign Direct Investment.
Foreign Direct Investment (FDI) is when an a firm or individual in one country makes investment into business interests in another country.
In the scenario above, Savvy Skin Care is a firm in the U.S. but is making investments in pursuit of business in another country. This is an exact example of Foreign Direct Investments
The demand for cigarettes is highly inelastic. This suggests that the incidence of a higher tax on cigarettes will fall primarily on:______. A) Government. B) Cigarette sellers. C) Cigarette consumers
Answer: C. Cigarette consumers.
Explanation: The demand for Cigarette is highly inelastic. When tax is imposed on Cigarette by the government, sales price is increased by the full amount of tax courtesy of the producers thereby transferring the tax burden to consumers.
When Hamdi Ulukaya and his employees worked for 18 months to create the purest cup of Greek yogurt possible, his team was creating a new ______________.A. priceB. promotionC. placeD. productE. property
Answer: D. Product
Explanation:
A product is an article or substance manufactured for consumption to satisfy needs or sales. The Chobani Greek style Yoghurt was created to satisfy America's high quality Yoghurt need.
A _______ account represents the basic financial position elements of the accounting equation and a _______ account keeps track of the changes in the retained earnings component of shareholders' equity.
Answer:
Balance Sheet
Statement of Changes in Shareholders equity
Explanation:
A Balance Sheet account represents the basic financial position elements of the accounting equation and a Statement of Changes in Shareholders Equity account keeps track of the changes in the retained earnings component of shareholders' equity.
A balance sheet in financial accounting, is a statement of financial position or statement of financial condition which shows all the assets, liabilities, and capital of a profit or not-for-profit organization at a given date.
A statement of changes in shareholders equity is a financial statement that shows a summary of all movements that took place in shareholders' equity accounts within a reporting period. It is in a nut-shell a reconciliation of the opening balances of equity accounts with their closing balances.
Suppose that salsa sells for $4 in year 1 and $5 in year 2. A bag of tortilla chips sells for $6 in year 1 and $5 in year 2. Further assume that year 1 is the base year. If 200 jars of salsa and 400 bags of tortilla chips are sold in year 2, the real gdp is $___.
Answer:
$3,200
Explanation:
With 200 jars of salsa and 400 bags of tortilla chips sold in year 2,
Nominal GDP in year 2, is the value of total sales using year 2 prices
Therefore, Nominal GDP = (200 * 5) + (400 * 5)
= 1,000 + 2,000
= $3,000.
Real GDP in year 2 is the value of total sales using the prices of the base year (year 1, in this case)
Therefore, real GDP = (200 * 4) + (400 * 6)
= 800 + 2,400
= $3,200.
Final answer:
Real GDP for year 2 is calculated using base year prices, resulting in $800 from 200 jars of salsa and $2,400 from 400 bags of tortilla chips, summing to a total of $3,200 real GDP for year 2.
Explanation:
When calculating real GDP, we use the prices from the base year to value the goods and services produced in a different year. In this example, year 1 is the base year, where salsa sells for $4 and a bag of tortilla chips sells for $6. To calculate the real GDP for year 2, we must value the goods sold in year 2 at year 1 prices. Therefore, we calculate the real GDP for year 2 by multiplying the quantity of each good sold in year 2 by its base year price, and then summing those amounts.
The calculation would be as follows:
200 jars of salsa × $4 (base year price) = $800400 bags of tortilla chips × $6 (base year price) = $2,400The total real GDP for year 2 would therefore be the sum of these two amounts, which is $800 + $2,400 = $3,200.