the Solow model, if the per worker production function of Japan is given as Y/N = 1.5(K/N)05, the preciation rate as 10%, the population growth rate as 2%, and the savings function is given as S = 0.05Y: (3) 3.1. Calculate the balanced growth (steady-state) capital labour ratio (K/N). 3.2. What is the balanced growth (steady-state) output per worker (Y/N)?
Answers
Given that per worker production function of Japan as Y/N = 1.5(K/N)⁰.⁵ The depreciation rate is 10%. The population growth rate is 2%. The savings function is given as S = 0.05Y
To find the balanced growth (steady-state) capital labor ratio (K/N), we need to use the following formula: s∗f(k∗)=δ∗kWhere s is the savings rate, f(k) is the production function, δ is the depreciation rate, and k is the capital labor ratio.
Substituting the given values, we get:0.05 × 1.5(K/N)⁰.⁵ = 0.1 × (K/N)Thus, 0.075(K/N)⁰.⁵ = 0.1(K/N)0.075(K/N)⁰.⁵ - 0.1(K/N) = 0(K/N)[0.075(K/N)⁰.⁵ - 0.1(K/N)](N/K)⁰.⁵ = 0N⁰.⁵ = 4/3(K/N)⁰.⁵N² = 16/9(K/N)K/N = 9/16 × N²
Thus, the balanced growth (steady-state) capital labor ratio (K/N) is 9/16 × N². To find the balanced growth (steady-state) output per worker (Y/N), we need to use the following formula :Y/N = f(k)
Substituting the value of k, we get: Y/N = 1.5(9/16 × N²)⁰.⁵Y/N = 1.5(3/4)N⁰.⁵Y/N = 1.125N⁰.⁵ Hence, the balanced growth (steady-state) output per worker (Y/N) is 1.125N⁰.⁵.
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Related Questions
Do you think greenspan is being realistic about the possibility of business ethics? cite specific language from his speech (in quotation marks) and explain your reasoning.
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Greenspan is realistic on the possibility of business ethics since it is believed that "people can change for the better and become ambassadors of good behavior."
Briefing :Greenspan is optimistic about the potential of business ethics, and there is proof of the observable success and increased productivity of businesses that adopt or uphold business ethics as guiding principles in their daily operations.
The outcomes are evident when a company's employees and staff are very confident in one another. Additionally, companies do not operate in a vacuum; rather, they are a part of a community, whose members they must take into account.
Corporate values like loyalty and trust also make it possible for businesses to work together to boost profitability. Therefore, when management ethics are included in an organization's core values, both the business entity and society benefit.
What business ethics mean ?Corporate ethics is a type of applied or professional ethics that looks at moral or ethical issues that could come up in a business setting. It is important to the actions of both individuals and entire companies and is applicable to all facets of business behavior.
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what are the three most common ways to categorize or classify magazines?
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Magazines can be categorized or classified in various ways depending on the criteria used. However, three common ways to classify magazines are:
Subject or Topic: Magazines can be categorized based on the subject matter they cover. This classification can include broad categories such as fashion, sports, lifestyle, business, health, entertainment, technology, travel, and many others. It helps readers find magazines that align with their specific interests.
Target Audience: Magazines can also be classified based on their target audience or demographic. This classification considers factors such as age, gender, occupation, hobbies, and interests. Examples include magazines for women, men, teenagers, parents, professionals, hobbyists, and specific demographic groups.
Frequency of Publication: Magazines can be classified based on how frequently they are published. This classification typically includes categories such as monthly, bi-monthly, quarterly, or weekly publications. It helps readers know the regularity with which they can expect new content from a particular magazine.
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Please Help!
1. The Pascal family: Both Mr. and Mrs. Pascal have been hired by a major employer in your town. They have been pre-approved for a loan of up to $300,000 and have enough cash to make a 20% down payment. They have steady incomes and hope to put down roots. Single family home, 3 beds and 2.5 baths.
(a) Give the URL for the home listing.
(b) Describe the home.
(c) Provide the reasons why it is a good fit.
2. The Harris family: They are a few years out of college and have been hired to teach school through the Teach for America program. Their contract is for one year. They have a little savings of about $1,200 in the bank. They are both fitness enthusiasts and love to ride bikes, play tennis and jog. Apartment with $800-$1000 monthly rent
(a) Give the URL for the home listing.
(b) Describe the home.
(c) Provide the reasons why it is a good fit.
3. The Middleburg family: They are looking to retire in your town to be closer to their grandchildren. They have $255,000 from the sale of their previous home to buy a house outright for a minimum $200,000. Mrs. Middleburg has neuropathy and may eventually need a wheelchair. Mr. Middleburg has a heart condition that needs to be monitored. Single story 3 beds, 2 bath “accessible” home. $200,000 - $250,000 range
(a) Give the URL for the home listing.
(b) Describe the home.
(c) Provide the reasons why it is a good fit.
Answers
Answer:
You should go to redfin.com and search a house that meets their needs I’m not sure if that’s the correct way to do the assignment but that’s how I did it
Explanation:
The pascal family of Mr. and Mrs. paschal have employed a major employ a man in the town. They have ales approved a loan of 300,000 and have enough cash to make a down payment.
The home listing URL is blog.hubspot.com. The home is big and located near the central business district. It is a good fit as it has all the available and necessary sites within one hour of reach. The harries family is a few years out of college and has been hired to teach in a school. They have contracts for one-year duration and have some savings of $1,200. They love to ride bikes and play tennis. Give a rent of 800-1000 USD. For them home would be a place that is far away from the downtown has cheap and affordable transportation and is not crowded. The middle burgs family is looking for retirement. The want to live close to their grandchildren. They have a $255,000 form sale and are used to wheelchairs. They need a home that is near the city and is near the medical care.Learn more about the Pascal family: Both Mr. and Mrs. Pascal have been.
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Discuss the methods of financing of retail business and the manner in which it will be raised.
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Financing is the process of obtaining funds from external sources to start or expand a business. Retail business is a form of business that deals with the sales of goods or services directly to customers in person or online.
Financing is the process of obtaining funds from external sources to start or expand a business. Retail business is a form of business that deals with the sales of goods or services directly to customers in person or online. There are several ways of financing a retail business such as personal savings, bank loans, angel investors, venture capitalists, crowdfunding, etc.
Personal savings are the most common source of funding for small businesses. It allows the owner to invest their own money into the business. Bank loans are the most common source of funding for retail businesses. Bank loans are secured or unsecured. Secured loans require collateral, while unsecured loans don't require collateral. Angel investors are wealthy individuals who invest their money in new and emerging businesses. Venture capitalists are companies that invest in businesses with high growth potential. Crowdfunding is a relatively new way of financing a retail business. It involves raising money from a large number of people over the internet.
The manner in which the funds are raised depends on the type of financing used. Personal savings and bank loans are relatively easy to obtain. Angel investors and venture capitalists require a business plan and a pitch to convince them to invest. Crowdfunding requires a well-planned campaign to attract investors. The most important thing when raising funds for a retail business is to have a solid business plan that outlines the financial needs of the business. It should also include a detailed analysis of the market and competition, as well as a marketing strategy to attract customers.
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If there is a decrease in the desire of americans to purchase goods and services from other countries and put money in foreign banks and businesses then how would this affect the u. S. Foreign exchange market?.
Answers
The equilibrium quantity of foreign currency would decrease and the US dollar would appreciate.
What is equilibrium quantity ?When a product is in equilibrium quantity , there is neither a shortage nor an overabundance of it on the market. When supply and demand cross, the quantity of a good that customers desire to buy is equal to the quantity that its suppliers are supplying.It can be determined by resolving the demand and supply function (Qa - bP = x + yP). An equilibrium price can be found by solving the equation when the supply and demand are equal. To determine the quantity, enter the equilibrium price into the demand or supply function.As demand declines, the equilibrium price will drop and less will be supplied. In the absence of any changes, an increase in supply will result in a decrease in the equilibrium price and an increase in the amount sought.To learn more about equilibrium quantity refer to:
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Opening its own subsidiaries in the host country may be better than contracting with an outside firm in the host country, if it is crucial for the firm to ________.
A) produce gains in efficiency, productivity, and quality
B) keep control of proprietary technology and processes
C) minimize job losses in the home country
D) market its products in the host country
Answers
Opening its own subsidiaries in the host country may be better than contracting with an outside firm in the host country, if it is crucial for the firm to ________.
Opening its own subsidiaries in the host country may be better than contracting with an outside firm in the host country, if it is crucial for the firm to produce gains in efficiency and productivity. By having its own subsidiaries, the firm can have more control over its operations, implement its own processes and technologies, and ensure that its standards are met. This can lead to increased efficiency and productivity, which can ultimately improve the firm's bottom line. Additionally, having its own subsidiaries can also help the firm keep control of proprietary technology and processes.
My answer is: B) keep control of proprietary technology and processes
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the frequent use of promotional pricing can encourage customers to only buy when a brand is on sale. group of answer choices true false
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The frequent use of promotional pricing can encourage customers to only buy when a brand is on sale true.
Promotional pricing is a income approach wherein a dealer or a logo quickly reduces the rate of a product or a provider with the intention to draw greater customers. Promotional pricing works through growing the purchaser's urgency to buy with a limited-provide deal.
Promotional pricing can assist with purchaser acquisition through encouraging cost-aware buyers to buy. It can growth revenue, construct purchaser loyalty, and enhance short-time period coins flow.
A promotional pricing approach works fine withinside the short-time period. Value-based, competition-based, cost-plus, and dynamic pricing are all fashions which can be used frequently, relying at the enterprise and commercial enterprise version in question.
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if government cuts taxes to encourage people to spend more money in order to stimulate economic growth, what policy is it engaging in?
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The government is engaging in fiscal policy by cutting taxes to encourage consumer spending and stimulate economic growth. Fiscal policy refers to the use of government spending and taxation to influence the economy. By cutting taxes, the government is effectively increasing disposable income, which in turn encourages individuals and businesses to spend more.
This increased spending then generates economic activity and can lead to higher levels of economic growth. However, fiscal policy can also have unintended consequences, such as inflation or budget deficits, which must be carefully managed by the society. Overall, fiscal policy is a powerful tool that can be used to shape the direction of the economy.
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Recall the four reasons some people favor trade restrictions. Give an example from the U.S. economy that you think best fits each reasons
Answers
Answer: See explanation
Explanation:
Trade restrictions simply means a way of protecting the local industries. This can be through imposition of tariffs on foreign goods, use of quota etc. The importance of trade restrictions are:
1. Trade restrictions are important in the protection of the infant indutries, that is, the young industries in a country that are just growing.
2. Trade restrictions is necessary to prevent dumping of goods. This mean selling of goods at lower prices or of low quality in a country. This gives such products an unfair advantage over other goods produced in the home country.
3. Trade restrictions is vital on order to protect the strategic indutries.
4. Trade restrictions is also vital in order to protect the jobs of the people in the country. When goods are imported rather than supporting local businesses, this can lead to unemployment as workers will lose their jobs.
Crane Corporation issued $3 million of 10 -year, 6% callable convertible subordinated debentures on January 2,2023 . The debentures have a face value of $1,000, with interest payable annually. The current conversion ratio is 13:1, and in two years it will increase to 18:1. At the date of issue, the bonds were sold at 100 to yield a 6% effective interest rate. The bond discount is amortized using the effective interest method. Crane's effective tax rate was 30%. Net income in 2023 was $7.7 million, and the company had 2 million shares outstanding during the entire year. For simplicity, ignore the requirement to record the debentures' debt and equity components separately. (a) Calculate basic earnings per share. (Round answers to 2 decimal places, e. . 15.25.) Basic earnings per share
Answers
Basic earnings per share for Crane Corporation is $3.85.
To calculate basic earnings per share (EPS) for Crane Corporation, we need to consider the net income and the weighted average number of shares outstanding during the year.
(a) Calculate basic earnings per share:
1. Calculate the weighted average number of shares outstanding:
Since there were 2 million shares outstanding during the entire year, the weighted average number of shares is also 2 million.
2. Calculate basic earnings per share:
Basic EPS = Net income / Weighted average number of shares outstanding
Basic EPS = $7.7 million / 2 million shares
Basic EPS = $3.85
Therefore, the basic earnings per share for Crane Corporation is $3.85.
Note: This calculation assumes that there are no other potentially dilutive securities, such as stock options or convertible securities, which would require further analysis to determine diluted earnings per share.
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Jupiter Co. applies overhead based on direct labor hours. The variable overhead standard is 4 hours at $12 per hour. During February, Jupiter Co. spent $113,400 for variable overhead. 9,150 labor hours were used to produce 2,400 units. What is the variable overhead efficiency variance
Answers
Answer:
YOUR ANSWER IS GIVEN BELOW:
Explanation:
Variable overhead efficiency variance
= (SLH - ALH) * SR
= (2400*4 - 9150) * 12
= 5400 F
What is the economic system of free enterprise in which individuals own most businesses and it encourages entrepreneurs?
Answers
The economic system of free enterprise is an economic system that encourages entrepreneurs and allows individuals to own most businesses.
What is the free enterprise economic system, where individuals own the majority of enterprises and entrepreneurs are encouraged?It is based on the idea of free competition and private ownership of the means of production.The system is based on the voluntary exchange of goods and services for mutual benefit, without government intervention in the market.The system encourages innovation and economic growth by allowing businesses to make decisions about production, pricing and distribution.Consumers are able to choose from a wide variety of products and services, creating competition among businesses and driving down prices.Free enterprise also allows for a greater variety of products, as new businesses can enter the market.The system also encourages creativity, as entrepreneurs can develop new products or services to compete with established businesses.Overall, the economic system of free enterprise provides a system in which individuals are able to own businesses, produce goods and services, and compete in the market.To learn more about the economic system of free enterprise refer to:
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Write 9.58 times 10^(2) in standard notation. pls help!
its math btw
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does mcdonald's franshicd have the same menu as McDonald’s? Like if deal happened with McDonald’s will the franchise serve the same deal?
Answers
Answer:
Yes, the menu served at any McDonald's franchise will be exactly what you'd find in any other McDonald's outlet, franchise or not.
Explanation:
When businesses such as fast-food companies want to expand, one of the strategies available to them is the use of a Franchise method.
This involves permitting another company or individual to use its brand, intellectual properties, business system, and any other rights or properties of the parent company to trade in exchange for an initial fee as well as royalties whose sum is agreed by both parties.
The original company is usually called the franchisor and the new entrant the franchisee.
For this type of strategy to work, the franchisor must already have a strong brand, a tested business operating system that works and one that is easily replicable or scalable.
A franchise is not a franchise if it's services or operations differ from that of the parent company. So, whether it is the Franchisor or the Franchisee, the system, products, and services must look and feel the same everywhere one goes.
Cheers
Why are wages and salaries generally determined by the market for labor?
Answers
According to maximum economics textbooks, our wages and salaries are decided similar to another price: with the aid of using deliver and call for. People deliver their labor, and organizations call for it, growing a marketplace for labor.
Many dealers and shoppers of exertions services. Consequently, salary and salaries are decided by the intersection of the call for exertions and the deliver for exertions. A curve displaying the one-of-a-kind portions of exertions employers are inclined to lease at one-of-a-kind salary quotes in a given time period, ceteris paribus.
Wages are determined via way of means of deliver and demand, however they may be encouraged via way of means of an extensive kind of factors, along with the price of dwelling in a selected area, the presence of a union and the present-day minimal wage.
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How did the Voting Rights Act influence the use of gerrymandering quizlet?
Answers
The Voting Rights Act has been construed by states to suggest that it is occasionally essential to create districts that benefit minorities, such as North Carolina's 12th Congressional District.
How has the Voting Rights Act of 1965 impacted redistricting?Voting techniques and procedures that discriminate on the basis of race, color, or membership in a language minority group are outlawed nationally under Section 2 of the Voting Rights Act. This restriction includes redistricting plans.
The results of state and House of Representatives elections have an impact on the presidential election due to gerrymandering. Since districts are irrelevant in presidential and senate contests, they are unaffected.Districts governed by historically marginalized people are aided through gerrymandering.
The manipulation could take the form of "cracking," which involves spreading out the supporters of the opposing party across several districts, or "packing," which involves concentrating the followers of the opposing party in one district in order to lessen their influence in other districts. Additionally, incumbents may benefit from gerrymandering.
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Test your understanding 1. Whabi & Company's financial year ends on 31 December. They act as agent for another business and receive a commission on goods sold. The following information is provided: 20-6 Jan 1 Commission, $94, was owing to Whabi & Company Dec 31 Commission, $1350, was received Commission, $76, was owing to Whabi & Company 20-7 Dec 31 Commission, $1480, was received For each of the years ended 31 December 20-6 and 31 December 20-7 state: (a) the amount shown for commission received in the income statement (b) the amount (if any) shown for commission received in the balance sheet, indicating whether it is a current asset or a current liability
Answers
(a) For the year ended December 31, 20-6, the amount shown for commission received in the income statement is $94.
For the year ended December 31, 20-7, the amount shown for commission received in the income statement is $1480.
(b) For the year ended December 31, 20-6, the amount shown for commission received in the balance sheet is $76, which is a current liability.
For the year ended December 31, 20-7, the amount shown for commission received in the balance sheet is $0, as the commission received of $1480 would have been recorded in the income statement for that year.
How did we get the values?The amounts in the income statement and balance sheet are recorded based on the accrual accounting method. This means that revenue is recognized in the income statement when it is earned, regardless of when it is received, and liabilities are recognized when they are incurred, regardless of when they are paid.
In this case, the commission of $94 that was owing to Whabi & Company as of January 1, 20-6, was earned and recognized as revenue in the income statement for that year. The commission of $1350 received on December 31, 20-6, would have been recorded as a cash inflow in the cash flow statement, but not in the income statement as it was received after the end of the financial year.
For the year ended December 31, 20-7, the commission of $1480 received was recognized as revenue in the income statement for that year, and the commission of $76 that was owing to Whabi & Company was recorded as a current liability in the balance sheet, as it was incurred but not yet paid.
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QUESTION 22 What is one cost of avoiding insurance? A. falling into debt if faced with a serious problem B. not benefitting from insurance deductibles C. not being able to purchase a car or home D. facing increased probability of accidents
Answers
Answer:
A. falling into debt if faced with a serious problem
Most real estate agencies are created by what?
Answers
Explanation: An agency is created by express appointment when the principal appoints the agent by express agreement with the agent. This express agreement may be an oral or written agreement between the principal and the agent.
list three implications of competitiveness and collaboration for this global company as portrayed in the scenario, providing supporting details in the notes.
Answers
Competitive and collaboration implications mainly involve:
involving or determined by rivalryagainst commercial rivals, the quality of the product should be high and the price must be low.having to do with or being marked by a competitive urge.The increase in corporate cooperation significantly affects competition. Contrary to popular belief, teamwork may foster rivalry. Most businesses collaborate for offensive goals rather than defensive ones. Instead of monopolizing markets and driving up prices, they want to experiment and learn. Working together with a rival can give you access to data, analytics, trends, and fresh resources that are advantageous to both parties. Together, we can find new sales prospects, encourage cross-selling, and plan marketing campaigns.
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Which trait do MOST employers look for when hiring new employees?
Group of answer choices
punctuality
an outgoing personality
financial independence
a fashionable wardrobe
Answers
Answer: Punctuality
Explanation:
The source of data to serve as inputs in incremental analysis is generated by
a) market analysts.
b) engineers.
c) accountants.
d) all of these answers are correct.
Answers
The source of data to serve as inputs in incremental analysis can come from market analysts, engineers, and accountants. The correct answer is option d.
Incremental analysis involves evaluating the costs and benefits of different alternatives or decisions by considering the incremental or additional changes they would bring compared to the current situation.
Market analysts provide data on market trends, customer demand, and competitor analysis, which are essential for assessing the potential impact of a decision on sales and revenue. Engineers provide technical data and expertise, particularly in projects involving product design, development, or process improvement.
Accountants contribute financial data, cost analysis, and budgetary information to evaluate the financial implications of the alternatives being considered. Therefore, all of these professionals play a role in generating the data necessary for incremental analysis.
The correct answer is option d.
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Calculate and express as a percentage, the company’s debt-to-assets ratio using amounts reported in its financial statements for the years ended February 2, 2014 and February 3, 2013, respectively.
85.8 and 64.4 percent
26.5 and 27.9 percent
0.69 and 0.57 percent
69.1 and 56.7 percent
Answers
The correct answer is 85.8 and 64.4 percent.
To calculate the company's debt-to-assets ratio, we need to divide the total amount of debt by the total amount of assets and express it as a percentage. For the year ended February 2, 2014, the company's debt-to-assets ratio is 85.8 percent.
This means that 85.8 percent of the company's assets are financed by debt. For the year ended February 3, 2013, the company's debt-to-assets ratio is 64.4 percent. This means that 64.4 percent of the company's assets are financed by debt.
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A large three-car detached garage is constructed on a homesite at a cost of $65,000. The appraiser researches the market and finds that this garage only adds $30,000 in value to the property. Which valuation principle does this demonstrate?
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"A large three-car detached garage is constructed on a homesite at a cost of $65,000. The appraiser researches the market and finds that this garage only adds $30,000 in value to the property." The valuation principle does demonstrate is a contribution. This is further explained below.
What is contribution?Generally, contribution is simply defined as the provision of something (as in money or effort) as a proportional share.
In conclusion, contribution is a major valuation principle.
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What initially stalled the adoption of behind-the-plate signage in the mlb?.
Answers
The reason the adoption of the Behind-The-Plate Signage was stalled at the Major League Baseball (MLB) was that:
"In the early 90s, George Steinbrenner thought it was a "slippery path to a bad place". The main source of concern was that it would lead to overcommercialization.
When did the objections to the Behind The Plate Signage abate?
The resistance to the idea of installing signages for adverts behind-the-plate disappeared after the 1993 season.
One of the reasons that helped was the increase in revenues as a result of the installation of the signages.
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How do insurance companys make money?
Answers
Two paragraphs for full credit.
What does mission statements do for your companies? If you had a business, what would be the mission statement and why? Go in-depth.
What significance does organizational charts have? Explain why everyone having an assigned role matters for a company.
Answers
Answer:
1. Companies can benefit from having a mission statement. First, it outlines a company's goals and position in the industry for its customers, competitors, and other stakeholders. It also helps the organization focus and stay on track to make the right decisions about its future.
Furthermore, the mission statement helps clarify a company's purpose. With a mission statement, a company's customers and investors can rest assured that the company is fully committed to achieving its goals and maintaining its values. It is also useful to guide and motivate employees, keeping them in line with the company's values.
Last, a mission statement adds validity to an organization. From the outside looking in, a mission statement demonstrates that a company has considered the big picture and the major goals it wants to accomplish. It demonstrates thoughtful leadership, reputability, and inspiration to potential investors, employees, or donors.
There are drawbacks to having a mission statement. Mission statements may sometimes be very lofty and far too unrealistic, which can distract employees from the company's goals. Management may become too distracted with high-level targets that shorter-term, necessary steps to get there become neglected.
In zombia, it takes 10 resources to produce 1 ton of cocoa and 13. 5 resources to produce 1 ton of rice. In south curmudgea, it takes 40 resources to produce 1 ton of cocoa and 20 resources to produce 1 ton of rice. Zombia has a comparative advantage over south curmedgea in.
Answers
The theory of comparative cost advantage is based on many assumptions and one of those assumptions is that "the production of commodities is done under the law of constant costs or returns".
It is presumable that constant returns to scale will make computations easier and produce useful generalizations that may be applied to the economy. Diminishing returns to scale is a more sensible assumption that is not made in the theory of comparative cost advantage, meaning that when inputs are employed more and more, their marginal product or contribution to production decreases. Furthermore, according to the comparative cost advantage theory, once a nation has determined its comparative advantage, all of its resources are put toward producing that good; as a result, the production process should reflect diminishing returns to scale rather than assuming constant returns to scale.
Any item that is readily available to us in our environment, is commercially viable, has access to modern technology, is culturally sustainable, and helps us to meet our requirements and fulfill our wants is referred to as a resource. Based on their availability, resources can be roughly classified into categories that are renewable and non-renewable.
They can also be divided into real and potential categories based on their level of development and use, biotic and abiotic categories based on their origin, and localized and omnipresent classifications depending on their dispersal (private, community-owned, national, and international resources). An item might develop into a resource over time as technology develops. Utilizing resources effectively can lead to increased income, efficient system operation, or improved well-being.
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A person seeking and receiving help through a guanxi network is:
A.liable to a social sanction if he or she does not reciprocate when called upon.
B.considered to be disloyal to his or her superiors.
C.free from reciprocal obligations.
D.not a follower of confucian ethics.
E.hesitant to commit to cooperative ventures.
Answers
A person seeking and receiving help through a guanxi network is Option C. free from reciprocal obligations.
Guanxi is a Chinese social networking system that is based on personal relationships and connections. People who seek help through a guanxi network are often expected to reciprocate when called upon, by offering assistance to their network contacts in the future. This reciprocity is a key feature of guanxi and is considered an essential aspect of maintaining and strengthening relationships within the network.
Option A is incorrect because the person seeking help through a guanxi network is not necessarily liable to a social sanction if they do not reciprocate. However, failing to reciprocate can damage relationships and harm the person's standing within the network.
Option B is incorrect because a person seeking help through a guanxi network is not necessarily considered to be disloyal to their superiors. Guanxi is not necessarily a conflict between personal relationships and professional obligations, and people may use guanxi to help advance their careers.
Option D is incorrect because a person seeking help through a guanxi network is not necessarily a follower of Confucian ethics. Guanxi is not necessarily tied to any specific ethical or moral system.
Option E is incorrect because a person seeking help through a guanxi network is not necessarily hesitant to commit to cooperative ventures. While guanxi networks are often used to facilitate personal relationships, they can also be used to facilitate business deals and other cooperative ventures.
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Suppose that Canada can produce 100,000 hockey sticks or 10,000 gallons of maple syrup in a typical workweek, while Germany can produce 90,000 hockey sticks or 10,000 gallons of maple syrup in a typical workweek. From these numbers, we can conclude:
A. Canada has a comparative advantage in the production of hockey sticks.
B. Germany has a comparative advantage in the production of hockey sticks.
C. Canada has an absolute advantage in the production of maple syrup.
D. Germany has an absolute advantage in the production of maple syrup.
Answers
Answer:
A. Canada has a comparative advantage in the production of hockey sticks.
Explanation:
The computation is shown below:
For Canada
The Opportunity cost of Hockey is
= 10000 ÷ 100000
= 0.1 gallons of maple syrup
For Germany
The Opportunity cost of Hockey is
= 10000 ÷ 90000
= 0.11 gallons of maple syrup
So based on this, the option A is correct
And, the same is to be considered
Therefore all the other options would be wrong