Answer:
Secondary Activities
Explanation:
Secondary activities inside an organization are those who support the primary activity. The primary activity consists in the production and distribution of goods and/or services to customers, while secondary activities are meant to improve aspects of the primary activity.
For example, the goal of human resources is to create good labor conditions so that employees are happier, and therefore, more productive. And the goal of the technology department is to engage in research to produce new goods or provide new services in the future.
Country A and country B produce the same consumption goods and capital goods and currently have identical production
possibilities curves. They also have the same resources at present, and they have access to the same technology.
a. At present, does either country have a comparative advantage in producing capital goods? Consumption goods?
b. Currently, country A has chosen to produce more consumption goods, compared with country B. Other things being
equal, which country will experience the larger outward shift of its PPC during the next year?
Answer:
a. No b. Country B
Explanation:
a. Two countries A and B have identical production possibility, they have the same level of resources and state of technology. Initially, neither of them will have a comparative advantage in the production of any of the goods.
b. When country A will chose more consumer goods, it will remain on the same curve. Country B, however, chooses capital goods, it will be able to produce more goods using those capital goods. So, its production possibility curve will shift outwards.
Which of the following fundamental archetypes of leadership is most likely to take risks and action in a crisis? a. The Visionary–Alchemist archetype b. The Teacher–Mentor archetype c. The Revolutionary–Crusader archetype d. The Warrior–Knight archetype
Answer:
The warrior-knight archetype
Explanation:
The idea of an archetype occurs Throughout fields relevant to actions, historical psychology philosophy, and literature research.
The Warrior-Knight stereotype applies to a ruler, who goes against the opponent and directs change, as per the basic leader archetypes.
warriors also posses great leadership qualities with great might.
The Revolutionary–Crusader archetype is the most likely to take risks and act decisively in a crisis situation due to their continual drive for change, embrace of new ideas, and willingness to challenge the status quo.
Explanation:Among the given options, the Revolutionary–Crusader archetype is the one most likely to take risks and action during a crisis. This type of leader is characterized by their continual drive for change and improvement, their embrace of new ideas, and their willingness to take on challenges head-on. They have the capability to change the course of an organization's trajectory, especially in crisis situations.
In contrast, the Visionary-Alchemist archetype emphasizes vision and long-term transformation, the Warrior-Knight archetype focuses on protection and service, and the Teacher-Mentor archetype promotes learning and development. While all these archetypes have valuable traits, it is the Revolutionary-Crusader who is most inclined to risk-taking and decisive action in a moment of crisis.
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ontribution margin is the difference between a. selling price and variable cost per unit. b. purchase price and variable cost per unit. c. selling price and fixed cost per unit. d. purchase price and fixed cost per unit.
Answer:
a. selling price and variable cost per unit.
Explanation:
The contribution margin is the share of revenue that a product contributes to pay for fixed costs and profits. The contribution margin can be calculated per unit or for an entire production. The total contribution margin is the margin for the entire product line or the business.
Calculating the contribution margin involves subtracting variable costs from the selling price. In other words, the contribution margin equals selling price minus variable costs. The concept of contribution margin assists management in determining break-even points and profitability at different production levels.
Over the course of 50 years, Dexter grew his company to eight package shipping stores. With his retirement approaching and the increased competition, he decided to reduce the number of locations to three. Dexter's reduction of effort represents a
a. fixed plan.
b. defensive strategy.
c. merger approach.
d. stability strategy.
e. growth strategy.
Answer:
B. Defensive Strategy
Explanation:
One thing that is inevitable in business is competition. Dexter decided to use a defensive strategy for his business with his retirement coming in and competition becoming even stronger.
Defensive strategies are management techniques used to "fend off attacks" from competitors. It helps the decision maker hold on to shares of the market. Some companies do this to lower the risk of being attacked when they perceive attacks coming from competitors so in turn, those competitors can focus on other competitors in the market.
Felix Corp. is a cookware manufacturer. It conducts market testing for a new appliance. JK Corp., a competitor of Felix, reduces its prices during the market test to prevent Felix from collecting accurate information. In this scenario, JK Corp. is engaging in a practice called _____.
A. scaling
B. pretesting
C. clustering
D. jamming
E. positioning
Answer:
This practice is called JAMMING.The answer is D.
Explanation:
Which of the following refers to a process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information to system users? A. Database B. Marketing decision support system (MDSS) C. Marketing information system (MIS) D. Market research E. Market intelligence system
Answer:
c. Marketing information system (MIS)
Explanation:
Marketing information system (MIS) -
It refers to the management of the information to help the marketing decision making process , is referred to as Marketing information system (MIS) .
The information or the data is collected , stored and distributed accordingly , to make the process fast and efficient .
Hence , from the given information of the question,
The correct option is c. Marketing information system (MIS) .
Digital Analytics, Inc, considers the impact of its corporate decisions on various groups and often acts in the interest of a group that has a greater stake in a decision than Digital's shareholders. This approach is most likely to attract potential employees who are
a. investors focused on short-term profits.
b. older professionals.
c. information technology specialists.
d. recent college graduates.
Answer: (D) Recent college graduates
Explanation:
According to the given scenario, the digital analytics is basically considering the various types of corporate impacts and this approach is basically used to attract the employees potential for the recent graduates fro the college.
There are basically various types of factors that helps in making various types of decisions in an organization for the purpose of higher stake and it also acts in the form of interest of the groups.
It also helps in managing all the activities in a organization and the recent graduates have more enthusiasms and passion. Therefore, Option (D) is correct answer.
Straight Arrow unloaded two tankers worth of toxic waste at an important port in the country of Urithmea. A hundred workers worked two days in their shorts and sandals to unload the barrels from the tankers for $5 a day. They were not told about the content of the barrels. Some observers felt that it was the obligation of not just the government of Urithmea but also of Straight Arrow to ensure that no harm was done to the workers. These observers are most likely
Answer: Rights Theorist
Rights Theorist that are worried about the rights of authorities and people. They also define obligations of the authorities and people as well. Freedom from obligations is only good when this act does not harm anyone. So they duty care is always applied on the human beings and corporations to work ethically and emphasize substantial duty of care to others to avoid any accidents to ensure safety precautions are adequate.
As one of the top managers at DropLabs, Henry ensures that all his employees are given the right to speak freely with their managers and higher-ups to voice their concerns. He also ensures that employees are not monitored on days they are not at work. Henry believes that employees are most productive when they are allowed to choose the projects they want to work on, provided they have the skill set and the experience to perform the job. In the context of the various ethical decision-making approaches, Henry's beliefs and actions are consistent with those asserted by the:
Answer:
The Common Good Ethics Approach.
Explanation:
It is been argued that the best society is been guided by the people's general will.This was postulated by a French philosopher by name Jean Jacques Rousseau who lived in the year 1712 to 1778.
This approach to Ethics empathizes respect and compassion for others,most especially those vulnerable.
The employers ability to voice out their grievances,suggestions and contributions to the daily running of the organisation coupled alongside the mangers compassion and respect for all individuals confirms to my first statement which says 'The best society is been guided by the people's will ' and that supports the common good Approach.
Answer:
moral-rights approach.
Explanation:
The moral rights approach states that in order for management actions and decisions to be ethical, they must not coerce or interfere with the fundamental rights and liberties of their employees, e.g. right to express your ideas, right to privacy, right to be treated equally, right to training, etc.
Joe Jones, plant manager at Waco Industries, told a friend that if it was necessary, his plant could produce 1,000 items a day if all conditions were just right. Joe is describing his plant's:
a. Effective capacity.
b. Yield rate.
c. Utilization.
d. Maximum capacity.
Answer:
Correct option is (d)
Explanation:
Capacity refers to the amount of goods that a plant or organization can produce. Maximum capacity refers to the total number of goods produced at maximum efficiency.
In this case, Joe's plant could produce 1,000 items if all conditions are met, which means when the plant is at its highest efficiency. This states the maximum capacity of the plant.
Mary Nabholz travels the same way to work every day. She notices advertisements in store windows when the ads first go up. However, after a few days, Mary no longer pays any attention to these ads because they have become familiar. Which of the following is affecting Mary's response to the ads?
a. perceptual vigilance
b. perceptual defense
c. perceptual selection
d. adaptation
Answer:
The answer is D.This is called adaptation.
Explanation:
Answer:
Adaptation
Explanation:
Mary has seen the advertisements several times, so she has subconsciously adapted to them. She is no longer conciously seeing the advertisements.
Processing of the information is done automatically now by mind .
Bobby is speaking to his friend and says, "this musical is going to cost me $60 when I buy the ticket." His friend corrects him and says, "actually, this concert will cost you more than $60 since you have to miss work." His friend is referring to the _________________.
Select the correct answer below:
a)economies of scale
b)budget constraint
c)opportunity cost
d)opportunity set
Answer:
c)opportunity cost
Explanation:
As Bobby is missing the job, it has to add up to the ticket cost the amount of labor wages lost during the concert and going bach and forth from his workplace.
That's because if Bobby didn't attend the concert it may have worked therefore, it will end with more han 60 dollars in his pocket.
The difinition for opportunity cost is the best alternative rejected. In this case is the wages against going to the musical
What similar issues appear to be addressed within both the Grange Ten Commandments and the Populist Party Platform?
Answer:
Immigration
Explanation:
Issues on immigration were addressed by both the Grange Ten Commandments and the Populist Party Platform.
Joy calls a mobile phone store to enquire about a new phone available in the market. The customer service operator sends him an e-mail about the product details along with other special specifications Joy requested. Which of the following types of contact points is illustrated in this scenario?
Select one:
a. Company created touch point
b. Intrinsic touch point
c. Extrinsic touch point
d. Unexpected touch point
e. Customer-initiated touch point Correct
Answer:
option e
Explanation:
Customer-initiated touch points refers to the ones that arise when an individual client of the company approaches the company. Anybody who has ever spent significant time in a sales role will testify, the most typically involve questions or complaints at these touch points.
They can happen on the mobile, via an online contact form, email or through social media. Whereas the company can not monitor when such touches happen, how they should be handled falls back, by systems, practices, training and culture, under the influence of administration.
The interaction between Joy and the mobile phone store is a customer-initiated touch point, with Joy initiating contact by calling and the store responding with detailed information via email.
In the scenario described, Joy's interaction with the mobile phone store falls under the category of a customer-initiated touch point. This contact began with Joy reaching out to the store to inquire about a new phone, and the customer service operator responding with an email providing the requested information. Customer-initiated touch points are characterized by the customer making the first move to connect with the company, seeking information, service, or support. These touch points are crucial for businesses as they present an opportunity to meet customer needs directly and build customer relationships. The fact that Joy initiated the contact by calling the store and subsequently receiving an email in response fits the description of a customer-initiated touch point perfectly.
Jorge Ortega has been using a 10 percent capacity cushion, servicing 60 customers an hour. There is a good deal of customercontact, and customer service has been poor due to random fluctuations in demand. If he increases his capacity cushion to20%, what will be the new capacity requirement?
A. 60
B. 75
C. 80
D. 67
The current capacity for Jorge Ortega is approximately 66.67 customers per hour. Considering a 20% capacity cushion, the new required capacity should be approximately 83.33 customers per hour, which is not among the provided choices. It appears there might be an error in the question.
Explanation:The question requires us to calculate the new capacity requirement for Jorge Ortega when he increases his capacity cushion from 10 percent to 20 percent. The capacity cushion is the additional capacity that a business holds beyond its expected demand.
Currently, Jorge is servicing 60 customers an hour at a 10 percent capacity cushion. This means that out of his total capacity, 10 percent is just a buffer. Therefore, his total capacity should be 60 / 0.9 = 66.67 (approximately). To calculate the new capacity requirement with a 20 percent capacity cushion, we use the formula New Capacity = Total Current Capacity / (1 - Capacity Cushion Percentage). So, New Capacity = 66.67 / (1 - 0.2) = 83.33 customers per hour.
Therefore, the answer is not among the options provided. There might be a misunderstanding or mistake in the question.
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Jorge Ortega's new capacity requirement after increasing his capacity cushion to 20% will remain same, it is 67.
Explanation:When Jorge Ortega is using a 10 percent capacity cushion and he services 60 customers an hour, that implies his capacity is measured at 100 percent, thus 60 customers represent his 90% capacity (because the 10% is the cushion). To calculate his full capacity (100%), we divide 60 (90% capacity) by 90 and multiply by 100 which equals to approximately 67 customers (his full capacity).
Now, if Ortega wants to increase the capacity cushion to 20%, this would mean that his new servicing capacity (now 80% of the full capacity due to the increased cushion) must be determined. In turn, we calculate 80% of 67 which equals to approximately 53 – 54 customers. The remaining capacity (the 20% cushion) can be calculated by subtracting 54 from his full capacity of 67, which results in 13. Adding this to his servicing capacity (54), we get his new capacity requirement: 54 + 13 = 67
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Tech firms are among the best performing firms in the world. According to the chapter, which firm is the most valuable firm in the United States, and has also posted some of the most profitable quarters of any business in any industry.
A. Amazon
B. Apple
C. Google
D. IBM
Answer:
B, Apple
Explanation:
Apple is an American Tech company founded by the late Steve Jobs and two other partners in April 1976, with its headquarters in California. The company is popular for its mobile phones and tablet (iphone, ipads).
Over the years, Apple has gone on to expand its business frontiers by establishing Apple TV, Apple watch, Air pods, etc. Apple alongside other tech firms have competed to take the top spot in the Tech industry but Apple has always been above the pack.
The company has been the most valuable firm for a while now and has posted record earnings in profits than any other firm in other industries. It is registered on the Stock Exchange and enjoyed phenomenal rise in stock values.
Cheers.
Harriet is a fifth grader working on difficult math problems. When she solves one correctly, her teacher tells her that she's correct, and then adds, "You must be very smart to get that answer!" This comment is likely to encourage Harriet to ________
a. focus on performance goals.
b. focus on mastery goals.
c. keep working on problems, even if she gets the occasional wrong answer.
d. enjoy doing math for its own sake.
Answer:
The correct answer is A
Explanation:
Performance goals are the goals or objectives which are short term in nature and set for some particular duties or the tasks in the person current involvement. These goals are mostly related to the whole company goals or the particular department.
So, in this case, Harriet who is working on solving the maths problem and when she correctly able to solve one solution correctly, her teacher appraise her. Therefore, the comment is likely to encourage the her to focus on the performance goals.
The teacher's specific praise is encouraging Harriet to focus on performance goals. Her intelligence is being tied to her ability to solve problems correctly, which may reinforce her need to maintain an image of being 'smart'.
Explanation:When the teacher praises Harriet by saying 'You must be very smart to get that answer!', it is encouraging Harriet to focus on performance goals. Performance goals are about showcasing skills and intelligence, and these types of comments emphasize the success Harriet achieved, thereby reinforcing the idea of her intelligence being tied to her performance.
Had the teacher rather praised the effort or the persistence, it would have stimulated Harriet's mastery goals or made her more likely to keep working on problems, even if she gets the occasional wrong answer. However, with the current feedback focusing on her intelligence, Harriet is more likely to focus on sustaining her image as 'smart'.
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Lly wants to maximize her benefit of consuming apples and bananas, given her fixed budget of $10 for these two fruits. The price of an apple is $1, and the price of a banana is $0.50. In order to derive Lily's demand curve for bananas, we need to- O A. draw a downward sloping line with slope of -2 O B. sove the buyer's problem for her multiple times and ind the optimal number of bananas, when price of a bananasia a a ifferent lovel ach time O C. solve the buyer's problem for her once, and find the optimal number of bananas, when price of a bananas is $0.50 O D. draw a downward sloping line with slope of -1 rial Economics: Applications, Strategy, and Tactics PDF Free
Answer:
C. solve the buyer's problem for her multiple times and find the optimal number of bananas, when price of a bananas is at a different level each time
Explanation:
If a taxpayer takes a trip within the United States which is primarily for business, the cost of travel to and from the destination need not be prorated between the business and personal portion of the trip.True / False.
Answer:
The statement is true
Explanation:
Business expenses are deductible to the extent that they are incurred outside the tax home. Expenses related to business purpose are deductible. For example, meals and lodging expenses. Personal expenses are not deductible.
However, for cost incurred on travel to and from destination within tax home is considered business expenses and is not required to be prorated between business and personal expenses. IRS keeps a close eye on any business travel outside tax home as in this case expenses need to be prorated between business and personal use.
1. The costs of doing business through the sale of goods and services are called a. Net income b. Expenses c. Revenues d. Dividends
The costs of doing business, especially related to the sale of goods or services, are referred to as 'Expenses' in business finance.
In terms of business finance, the costs related with undertaking business, specifically generating and selling goods or services, are categorized as expenses. These can range from the direct costs linked with creating the product, such as material or labor costs, to more indirect costs like rent or salaries. Hence, the answer to your question is "b. Expenses".
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Tara works as a senior manager at TechWin Software Inc. As part of her improvement program, she asked her team members to state what they felt was a demerit in her leadership style. Nobody criticized her because they knew that she liked being praised by her peers and friends. In this scenario, the team members were engaged in _______.
Answer: Filtering
Explanation:
The filtering is one of the process that is used for eliminating the actual values and also manipulating the data or information for favoring the recipient.
In the filtering process we deliberately doing this for making more acceptable to other people and it is also known as the selective presentation.
According to the given question, the team members in an organization filtering their actual feelings and thoughts in front of their senior manager as they all know that the manager only likes the praising by the people.
Therefore, Filtering is the correct answer.
Final answer:
The team members likely engaged in impression management to avoid giving negative feedback to their manager, who preferred praise. This behavior could limit constructive criticism but aligns with providing positive feedback that managers often appreciate. Effective management requires a balance of both praise and constructive feedback.
Explanation:
The team members at TechWin Software Inc. not providing critical feedback about Tara's leadership style were likely engaged in impression management. This phenomenon occurs when individuals aim to influence the perceptions of others, in this case, by not criticizing a manager who favors praise. Instead of risking potential disapproval, they may choose to compliment the manager on work-related achievements, following Tara's actions. This approach aligns with the understanding that providing positive feedback and showing support is generally appreciated. However, this scenario did not encourage open and honest communication that could lead to constructive changes and improvement in her management style.
Applying the principles of management effectively involves a balance of positive and negative feedback to enhance team performance and personal development. In some organizations, members may feel more pressure from peer monitoring in a team-based environment, demonstrating the complexity of team dynamics and the need for skilled management. A similar balance should be maintained in recognizing efforts and achievements across the team, treating everyone equally regardless of background, and focusing on ideas rather than personal judgments when offering criticism.
A monthly water bill (in dollars) is a linear function of the amount of water the hose uses (in hundreds of cubic feet, HCF) the function uses the slope of 1.45
If the monthly cost for 17 HCF is $44.39, what is the monthly cost for 11 HCF ?
Answer:
The monthly cost for 11 HCF would be $ 35.69.
Explanation:
Consider the linear function that represents the amount of water ( in dollars ) for x HCF of used water,
y = mx + c
Where, m is the slope of the function,
We have, m = 1.45,
So, the function would be,
y = 1.45x + c
If y = $ 44.39 and x = 17,
This implies,
44.39 = 1.45(17) + c
44.39 = 24.65 + c
44.39 - 24.65 = c
19.74 = c
Thus, the required equation that shows the amount of water for x HCF of water is,
y = 1.45x + 19.74
For x = 11 HCF,
The amount of water for 11 HCF of water,
y = 1.45(11) + 19.74
y = 15.95 + 19.74
y = 35.69
Hence, the monthly cost for 11 HCF would be $ 35.69.
A meat-packing company discovers that six months ago it unknowingly distributed meat froma humans consuming the meat however some scientists have cloned cow The firm is unaware of any specific risks to questions, and some consumers are afraid of possible future problems. The meat company has to decide whether or not to make this matter public How should begin the process of making an ethical decision?
a) brainstonm the available aternatives
b) find out who punchased the meat, and offer them nefunds in neturn for sheir slence
c) let the board of directors decide what to do
d) ask ts managers to vote for or against public daclosure
e) identity the issues raised by the stuation MacBook Air
Answer:
The correct answer is letter "E": identity the issues raised by the situation.
Explanation:
In front of a situation where the consequences are still unknown, an organization must track the places where the cause of the possible problem -in this case, the cloned cow meat- to find out if there are claims raised in those places. If so, the company must contact the individuals involved in the complaints and verify if the problem could have been created because of their fault. If that happened the casualties must be reduced to the minimum to avoid the company getting a bad image in the market that potentially could lead to lawsuits and losses.
You are writing a recommendation report on which vendor of audiovisual services to hire for your company's annual conference. The three vendors you considered are Adams, MicMasters, and Zenith. You concluded that Zenith was by far the best option, followed by Adams and then MicMasters, both of which were barely satisfactory. However, you have just learned that the top two managers at Zenith, with whom you met, have left the company. The personal service provided by these managers was a big factor in your positive assessment of the company. What recommendation should you make now?
Answer:
I suggest you delay your choice until you learn more of Zenith's current management
Explanation:
The management is just a position that doesn't carry the same character. Every manager carries different values and principles and one person might be satisfactory to you while another might not be. The new management may have some characters which might be off-putting to you and might ruin the company's conference. Best to go with what you know than what you don't.
Cash balance per bank, July 31, $8,238. 2. July bank service charge not recorded by the depositor $58. 3. Cash balance per books, July 31, $8,274. 4. Deposits in transit, July 31, $3,610. 5. $2,926 collected for Sunland Company in July by the bank through electronic funds transfer. The collection has not been recorded by Sunland Company. 6. Outstanding checks, July 31, $706
a. Prepare a bank reconciliation on July 31, 2017.
b. Journalize the adjusting entries for Sunland Company.
Answer:
the adjusted cash balance is $ 11,142
service charge expense 58 debit
cash 2868 debit
accounts receivables 2926 credit
--to record bank reconciliation--
Explanation:
CASH
Balance 8274
Service Charge -58
collection 2926
Adjusted Balance 11,142
BANK
Balance 8238
Outstanding Check -706
Deposit in transit 3610
Adjusted Balance 11,142
Car manufacturers have a large lead time on new products. If an idea for a feature on a vehicle is developed, it will likely be two years before consumers know about it and can decide if they want to buy it. Consumer trends are sometimes short lived as they are always evolving. Which external analysis element is a primary focus of car manufacturers?
a. Scanning
b. Monitoring
c. Forecasting
d. Assessing
Answer:
d. Assessing
Explanation:
External analysis refers to monitoring the environment of the industry to be able to identify opportunites and threats and take the necessary measures. This helps you to find out about events that may affect your company and that you can't control.
Scanning refers to gathering data about events.
Monitoring refers to observing an event over a period of time.
Forecasting is predicting changes in trends.
Assessing is evaluating the environment to find trends that can have consequences on your company.
According to this, the external analysis element that is a primary focus of car manufacturers is assessing because it allows them to find out about the trends in the market and make the right decisions to take advantage of them.
The Stogie Shop, a cigar store in the mall, sells handminus−rolled cigars for $10.00 and machineminus−made cigars for $2.50 each. What is the opportunity cost of buying a handminus−rolled cigar?
Answer:
4 machineminus−made cigars
Explanation:
Opoortunty cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
If one buys a handminus−rolled cigars for $10.00, he forgoes the opportunity of buying $10 / $2.5 = 4 machineminus−made cigars.
I hope my answer helps you
Ruben, the owner of Fitstem, a popular gym, analyzes the competition that the gym faces and understands the changing needs of its customers. To tackle competition, he tries to get all the latest equipment installed in the gym. He also takes frequent feedback related to service improvement from the gym's regular clients. In this scenario, which of the followings skills is Ruben most likely to possess?
Answer:
Conceptual skills
Explanation:
Conceptual skills is the term which is defined as the skill set that comprise of the communication skills, analytical and creative thinking. These skills are specifically vital for the managers as well as the leaders.
Under this situation, the owner analyze the competition which the gym faces and understands the needs of the customers. He also take the feedback as well. So, he is most likely possess the conceptual skills as he knows what is to be done in that situation.
These lists provide information about two jobs. Which statement best compares the two jobs? Job A has a lower salary than job B, but the benefits make job A a more attractive pay package. Job B has a lower salary than job A, but the benefits make job B a more attractive pay package. Job A has a higher salary than job B plus benefits that make job A a more attractive pay package. Job B has a higher salary than job A plus benefits that make job B a more attractive pay package.
Answer:
Job B has a lower salary than job A, but the benefits make job B a more attractive pay package
The above mentioned statement best compares the two job
In the above statement we are taking into consideration two jobs A and B
the salary of the Job A is higher than the salary of Job B but the benefits enjoyed by the employee doing Job B makes its pay package attractive
Final answer:
The pay packages of two jobs must be compared by considering not only the salary but also the benefits and job characteristics, which may make a lower-paying job more attractive overall.
Explanation:
To compare the pay packages of two jobs, we must consider not only the salary but also the benefits and characteristics of each job. Worker A is more productive than worker B in both jobs, particularly in job 2. Job A offers a lower salary compared to job B, but the benefits and the nature of job A might make it more desirable overall. Conversely, Job B might have a higher salary, but this does not automatically make it the more attractive pay package without considering the comprehensive benefits and job characteristics. When choosing a job, one should weigh the benefits such as health coverage, the level of challenge, and engagement potential against the salary offered. An individual's choice is subjective and depends on their valuation of these aspects alongside their unique circumstances.
Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator.
The GDP deflator for this year is calculated by dividing the 1) ________ (A) Value of all goods and services produced in the economy in the base year (B) Value of all goods and services produced in the economy this year (C) cost of a given market basket of goods and services using 2) ______ (A) the base year's prices (B) this year's prices by the 3) ________ A) Value of all goods and services produced in the economy in the base year (B) Value of all goods and services produced in the economy this year (C) cost of a given market basket of goods and services using 4) ______ (A) the base year's prices (B) this year's prices
the CPI reflects only the prices of all goods and services 5) _______ (A) produced domestically (B)bought by consumers
Which does an increase in the price of a Chinese-made car that is popular among U.S. consumers show up in?
(a) GDP Deflator
(b) CPI
Which does a decrease in the price of a Treewood Equipment feller buncher, which is a commercial forestry machine that cuts and stacks trees show up in?
(a) GDP Deflator
(b) CPI
Answer:
1) The GDP deflator for this year is calculated by dividing the - (B) Value of all goods and services produced in the economy this year - using - (B) this year's prices - by the - A) Value of all goods and services produced in the economy in the base year - using - (A) the base year's prices
To calculate the GDP deflator, we divide the nominal GDP for the selected year, by the Real GDP of the base year, and we multiply the result by one hundred.
2) The CPI reflects only the prices of all goods and services - (B)bought by consumers
The CPI is a measure of the change in price of a selected basket of goods and services, usually those goods and services that consumers buy the most, whether they are produced domestically or not.
3) Which does an increase in the price of a Chinese-made car that is popular among U.S. consumers show up in? - (b) CPI
As explained above, the CPI measures the price of goods and services that are commonly bought by consumers. It does not matter if the good is produced in the U.S. or China.
4) Which does a decrease in the price of a Treewood Equipment feller buncher, which is a commercial forestry machine that cuts and stacks trees show up in? - (a) GDP Deflator
It shows up in the GDP Deflator because the good is not a common good purchased by consumers. It is a good only consumed by those involved in the tree cutting business.