geo test ch 2 essay questions. 15 terms. **3. \hline \text { Oxford } & 15 & 17 \\ A company currently pays a dividend of $4.00 per share. In terms of the circular flow diagram, households make expenditures in the _____ market and receive income through the _____ market. As of December 31, H enderson has completed the charter. Use the following table as a guide: While this can be substantial during good years, it also means that during bad years the stockholders may get nothing, and if the corporation does poorly for a number of years, the stockholders' investment can be lost. Which of the following is not a characteristic of the market system? What argument says that domestic firms and workers must be shielded from competition from countries where wages are low? What might be the logic behind this relationship? What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space? Study with Quizlet and memorize flashcards containing terms like the relationship in the graph above best illustrates the economic concept of, the table above shows the short run production function for picking apples. Economic profits and losses: A. are both considered by economists to be a part of production costs. Determine annual depreciation assuming the straight-line depreciation method is used. Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams. D. a liability that people are willing to accept in exchange for goods and services., A barter economy is an economy where Economic efficiency entails getting the smallest amount of output from a given level of input of scarce resources. Study with Quizlet and memorize flashcards containing terms like Apply revenue recognition principles to various types of transactions., Identify issues with revenue recognition at point of sale, including sales with buyback agreements, sales when right of return exists, and trade loading (or channel stuffing)., Identify instances where revenue is recognized before delivery "Because the outputs of many industries are the inputs to other industries, the failure of any single industry to fulfill the output quantities specified in the central plan caused a chain-reaction of adverse repercussions on production." Study with Quizlet and memorize flashcards containing terms like Accumulated Depreciation, Acreage Reporting Date, Actual Cash Value (ACV) and more. What will be the percentage change in the index from a 10% increase in the share price of company B? What is the main economic difference between a tariff and a quota? Assuming a corporation has not sold stock to the public, conducting corporate business is straightforward. What type of graphic shows the amounts of two products a nation can obtain by specializing in one product and trading for the other? The concept of consumer sovereignty refers to situations in which consumers are represented on the board of directors of large corporations. Preparation of budgets is part of financial accounting. Competition from other nations building plants in Mexico. $$ The increased competition leads to not only greater efficiency due to lower prices but a better flow of information that allocates resources to their most efficient use. Minimum ATC Study with Quizlet and memorize flashcards containing terms like Traditionally, risk has been defined as A) any situation in which the probability of loss is one. B. Neoclassical Study with Quizlet and memorize flashcards containing terms like In the above diagram the range of diminishing marginal returns is:, In the above diagram, total product will be at a maximum at:, Refer to the above diagram. a consumer surplus of $9, and Nathan experiences a producer surplus of $3. When markets are efficient, the price at which a stock currently trades reflects all available information, so the future price movements are unpredictable. In fact, Professor Siegel's research points out that between the years 1871 and 1992 there was no 30-year period when bonds outperformed stocks. Properly label this line. Study with Quizlet and memorize flashcards containing terms like , Entry, Exit and more. The four direct effects of tariffs are: a decline in consumption, increased domestic production, tariff revenue, and a(n) ______. a. It is believed the stock will sell for $100 one year from now, and an investor has a discount (interest) rate of 6% (0.06). When the world price for a product is below the Canadian price, what will Canada experience? alyclark21. The supply of cattle hides was reduced, raising the price of hides. The two basic markets shown by the simple circular flow model are: Which of the following is a distinguishing feature of a command system? There are many wheat farms in the United States, and there are also more than 2,000 Panera Bread restaurants. \end{array} Reduced spending on imports can be diverted to domestic spending and increase domestic employment. The underbanked represented 14% of U.S. households, or 18. $$ Study with Quizlet and memorize flashcards containing terms like A share of common stock represents a(n): A. claim from a lender against a borrower. The enitre market for apples is shown in the figure below. If the market price for apple pies were to rise to $6.00 per apple pie, how many apple pies should Baker Street make? Farmer Parker's profit-maximizing level of production is 6 bushels of wheat. 1.There are about 400 wineries in California's Napa Valley. 1. "Through the profit potential that encourages development of new technology.". How does the problem of limited and bundled choice in the public sector relate to economic efficiency? The ability to download and store a large number of songs, and the superior quality of MP3 is causing a decline in the CD industry, just as CDs once replaced cassette tapes, which had previously replaced phonographs (records). 1. The desires of resource suppliers and producers to further their own self-interest will automatically further the public interest. The data are contained in the data file Currency Exchange Rates. They can enhance their resource productivity. Nations that depend heavily on one main export should impose trade barriers to protect domestic production of other goods. Which of the following is a fundamental characteristic of the market system? In monopolistically competitive markets, what is a factor under a firm's control that determines whether it will be successful? The creation of two distinct markets will allow for a situation where the prices of the same stock may be different in the two markets. $0.60 The market price of corn is $2.20 per cob. is essentially: The failure of Soviet central planning was reflected in: There are independently-acting buyers and sellers in each market. The simple circular flow model shows that: Allocates resources efficiently and allows economic freedom. The economy of the United States can best be described as pure capitalism. Which is not one of the potential advantages of decentralization? Using this, draw a scatter diagram. geo test ch 2 essay questions. 3. What is Soylent Green's marginal revenue for an extra bushel of soybeans sold? Which of the following is a distinguishing feature of laissez-faire capitalism? (a) When negative externalities are present, the equilibrium output will be greater than the efficient output. What price would an individual be willing to pay today for a stock he/she expects can be sold for $200 one year from now, if the individual has a discount rate of 6% (.06) and the stock pays an annual dividend of $7.50? The market system's answer to the fundamental question "How will the goods and services be produced?" Use a time-series plot to graphically display the currency conversion from the EUR to 1 USD. $$. While the fixed investment in new oil sands projects is prohibitive, variable costs can be in the low $20 range (say, $23) per barrel." Thus, the products appear to be complementary. The dollar votes of consumers ultimately determine the composition of output and the allocation of resources in a market economy. Finally, assume the company will earn $150 in good years and $75 in bad years, with equal probability. Because of trade wars and other factors, more nations have been moving toward ______. Q profit max 3. This is a two-part question: We have a firm that needs $1000 to obtain a new machine for its business. ** Purchased with cash another 25 alarm systems on August 1 for resale at a cost of$260 each. Do the voting rights possessed by common stockholders ensure that managers and directors have the same objectives as stockholders? Suppose Aiyanna's Pizzeria currently faces a linear demand curve and is charging a very high price per pizza and doing very little business. Study with Quizlet and memorize flashcards containing terms like Money is A. the income one earns over a period of time. The Nasdaq is a value-weighted index, where the DJIA is a price-weighted index. Only realized profits with reasonable certainty are recognized in the profit and loss account However, provision is made for all known expenses and losses whether the amount is known for certain or just an estimation This treatment minimizes the reported profits and the valuation of assets 19 The market system's answer to the fundamental question "How will the system promote progress?" B. one's assets net of one's liabilities at any point in time. A. Which method provides a better measure of a company's economic activity each period? This reduction in the private cost would, in-turn, increase the purchase of the LoJack system. Study with Quizlet and memorize flashcards containing terms like 22) Which of the following represents the two views of managerial impact on the success or failure of the organization? According to an article in the Wall Street Journal, as a result of U.S. consumers increasing their demand for beef, in 2015 world beef prices increased. Property rights are the right of the government to own, use, and dispose of resources in an economy. At the end of the year, she shows an accounting profit of $85,000 on her income tax return. Compare your currency with an appropriate world currency for the last 30 days. where all firms earn zero economic profits producing the output level where P = MR = MC and P = AC. Study with Quizlet and memorize flashcards containing terms like Which of the following are functions of exports assistance centers (EACs), Darla's bicycle ship in the United States is experiencing a slowdown in its growth. Is there an altitude at which the pressure is exactly zero? is essentially: The regulatory mechanism of the market system is: The most efficient combination of resources in producing any output is the combination that: Producers would not react because no price or profit signals occurred. The chief acquired a sample of the data listed below. $$ To maximize profits or minimize losses this firm should produce. The rate of commission their broker charged them, to the nearest tenth percent, was $\underline{\qquad \qquad}\%$. b. earn economic profits. \text{Retained earnings}&&\text{39,190}\\ Week 1. If the price of A increases by 10% this raises A's price to $33 and the value of the index to 51.5, or an increase of 3%. c. The U.S. Air Force purchases two new fighter jets }&\text{Balance Sheet}&\text{Understated}&\text{Income Statement}&\text{Understated}\\ (Enter a loss as a negative number. The payment to the equity holders and the expected return are as follows, (i) for 0% debt financing, the payment is $75 - $150; with an expected return of 11.25%; (ii) with 50% debt financing the payment to equity holders will be $35 - $110; with an expected return of 14.5%; and finally, (iii) with 80% debt financing, the payment to the equity holders will be $11 - $86; with an expected return of 24.25%. C. share of ownership of the company. Over the next twelve months it loses 50% of its value. ** Collected $74,000 of accounts receivable during the year. In a market economy a significant change in consumers' desire for product X will: Economic profits in an industry suggest the industry: B. should be larger to better satisfy consumers' desire for the product. 5. \text{Supplies}&&\text{150}\\ If sellers find themselves at a given price with more output than consumers are willing to purchase, they will lower the price. True or False? \text { Whistler } & 11 & 19 \\ Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams, Alexander Holmes, Barbara Illowsky, Susan Dean, On a separate sheet of paper, match the letter of the term best described by each statement below. a. HR managers lack business acumen. ** Paid a dividend of $15,000 to the shareholders. A three-year premium paid on a fire insurance policy. Retained earnings are an accumulation of a company's net income and net losses over all the years the business has been operating. Improves motivation and retention The nonprofit label comes from the fact that they are exempt from federal and local taxes in exchange for providing a certain amount of community benefit.. The fact that many corporations use debt financing as well as equity financing creates all of the following except: Without the stockholders' limited liability, the risk from the use of leverage would: Consider the effect of business cycles on bondholders versus stockholders. The common stockholders may have mixed feelings about this announcement. Because China has abundant low-wage workers, it can efficiently produce ______-intensive goods. This growth rate in dividends is expected to continue indefinitely. Using ABC to allocate manufacturing overhead can help managers to: Record the above transactions in general journal form. The brands exist only as Web sites and on the containers the food is delivered in. **Velocity of Winchester bullets. c. Locate inefficiencies in the production process. You make a $1,000 investment in the stock of ABC Inc. Over the next year the investment decreases by 60%. B. share in the company's debts. \text{Cash}&&\$62,860\\ Week 1. Copyrights and trademarks are examples of: The regulatory mechanism of the market system is: B. independently acting buyers and sellers and freedom to enter or leave markets. The city council of Pine Bluffs is considering boosting the number of police \sin an effort to minimise crime. Following a bumpy launch week that saw frequent server trouble and bloated player queues, Blizzard has announced that over 25 million Overwatch 2 players have logged on in its first 10 days. Other Quizlet sets. Let MC be the marginal cost curve and ATC be the long-run average total cost curve. With accurate signals investment resources flow to their most socially beneficial uses. The first part of the question is to (a) determine the payment to the equity holders under the following three scenarios: (i) the first is the firm uses 0% debt financing; (ii) the second is the firm uses 50% debt financing, and (iii) the third finds the firm using 80% debt financing. **9. A market system allows for the private ownership of resources and coordinates economic activity through market prices. Compute the required stock return and current price of this stock, using the dividend-discount model. To bridge the gap, governments borrow money, usually by selling bonds, Critique: "Thank goodness we have so many government regulatory agencies. They can enhance their resource productivity. 1.Consider the graph to the right. Jennifer experiences. $$ Alexander Holmes, Barbara Illowsky, Susan Dean, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal. They can acquire more goods and services. \begin{matrix} The market system's answer to the fundamental question "How will the goods and services be produced?" 3. contribute to a more equal distribution of income. Limited and bundled choice in the political process tends to reduce economic efficiency because blocks of public goods and social programs are provided. 4c. U.S. firms will produce more than 100 tons of corn and export the excess, selling it at the world price. It expects the growth rate of the dividend to be 3% (0.03) annually. 8. ** Purchased with cash $500 of supplies to be used over the next several months by the business. fall because the supply of beef will increase as new firms enter the industry. Blindfold the participants and ask them to hold their noses. This statement best describes the concept of: Expand in industry Z, as more resources will move to that industry. If the expansion proves to be profitable it can certainly turn out to be a good decision for the stockholders who may see the higher return from leverage. where $x$ is the number of units. Study with Quizlet and memorize flashcards containing terms like 1. **12. To provide these services he must rent an office for $12 comma 00012,000 per year, hire a secretary for $24 comma 00024,000, and spend $5 comma 0005,000 per year in advertising. Explain why the willingness to purchase stocks is influenced heavily by shareholders' legal rights with respect to control of the corporation. They can improve their self-sufficiency., In a model compiled to show the economic relationship between two Voters like the benefits of increased government spending, but do not like having to pay the taxes necessary to fund all the costly government programs that they like. Managerial accounting applies only to merchandising and manufacturing companies. Why isn't the actual level of an index, for example the Dow Jones Industrial Average, very useful on its own? a. These stores are selling convenience as well as the goods that are purchased there. The bank issues working capital and loans to micro-entrepreneurs and small and mediumsized businesses. By 2017, McDonald's had stopped selling Chicken McNuggets and other products made from chickens fed antibiotics. Study with Quizlet and memorize flashcards containing terms like Traditionally, risk has been defined as A) any situation in which the probability of loss is one. a. Yes, the government should consider subsidizing LoJack purchases. On one hand, they may applaud the proposal because (as we saw in the chapter), the use of leverage by a firm can increase the expected return to equity, which are the stockholders. The hypothesis does not claim that the market price is always right. This separation of the two markets could lead to a misallocation of resources. What possibilities exist to explain the claim made by many professional portfolio managers that they can exceed the average stock market return year after year? Farmer Parker will maximize profits by producing _______bushels of wheat (enter a whole number). The potential losses associated with stocks are greater during economic downturns, so investors will have a higher required return on stock. $0.60 The market price of corn is $2.20 per cob. ** On February 1, paid the accounts payable of$980, but not within the discount period. In the short run, how much corn should Cathy produce each day to maximize profits? Study with Quizlet and memorize flashcards containing terms like T/F - Downloading music into a computers random access memory, or RAM, without authorization is copyright infringement., T/F - A franchisee's breach of the duty of honesty and fidelity can be enough to allow a franchisor to terminate a franchise even if their contract contains a notice-and-cure provision, Donuts Whole Write a report describing how accu- rately the participants guessed the same foods. How does free trade tend to benefit society? The price of a stock is currently $750 and the stock will pay a $43 dividend. Economic systems differ from one another based on who own the factors of production and: A. The theory of efficient markets says we should expect the price of the company's stock to: According to the theory of efficient markets: According to the theory of efficient markets, mutual fund managers may be expected to earn above-average returns if they: Stocks appear to present risk, yet many people have substantial parts of their wealth invested in them. Profits 4. "Goods and services that are profitable.". Assume the market price per pepper is $5.00. C. encourages owners to maintain or improve their property, so as to preserve or enhance value. Most of the students spent hours preparing their answers and came to class carrying many sheets of paper with their calculations. Bobby decides to sell lemonade on a hot summer day. **1. Property rights encourage the maintaining of the property and they facilitate the exchange of the property. Now, the government has a plan to create two markets: one for domestic residents and one for foreign investment. Reporting after incorporation. B. are essential to the reallocation of resources from less desired to more desired goods. **13. Economizing requires that any particular good be produced by the nation having the ______ domestic opportunity cost, or the ______ advantage for that good. ** On September 5, purchased on account 30 standard alarm systems at a cost of $265. The DJIA accounts for stock splits over the years, which are reflected in the average but not in the current price of the stock, and the companies included in the index change periodically. Study with Quizlet and memorize flashcards containing terms like Which of the following best summarizes why HR managers have to use strategy language when discussing the value of HR programs to senior leadership? Study with Quizlet and memorize flashcards containing terms like How do nations benefit from international trade? Therefore, while these small companies don't currently pay dividends, investors may still buy stocks in these companies based on the expectation that they will pay dividends in the future. The two basic markets shown by the simple circular flow model are: C. households sell resources to businesses. Aviation: Chapter 6 - FAR's (Part 61) 63 terms. How do monopolistically competitive market structures affect consumers? When his professor called on him in class for an answer, Tobias stated. If Henderson had not recorded the adjusting entries, indicate which specific category of accounts on the financial statements would be misstated and if the misstatement is overstated or understated. Based on the dividend discount model, how is it possible for these stocks to sell for a positive price? Conduct an experiment to show the relationship between taste and smell. How might a monopolistically competitive firm continually earn economic profit greater than zero? ** Recognized the revenue earned from transaction 13. 1. not matter to consumers since the product would be homogeneous. Assume the individual has a discount rate of 8% (0.08). Bondholders are not owners of the company, meaning that they are not entitled to a share of the firm's profits, nor are they involved in the voting of the firm's managers. Discuss the inefficiencies that can be caused by stock market bubbles, especially focusing on firms and consumers. b. Ford Motor Company buys four tires to put on a new Ford Mustang. \hline The required stock return is 10.5%. Those who have a checking or savings account, but also use financial alternatives like check cashing services are considered underbanked. All are normal goodsincome and quantity demanded move in the same direction. \text{Prepaid rent}&&\text{2,000}\\ What effect does advertising have on firm profits? A tariff generates revenue for the domestic government. A) omnipotent and symbolic B) omnipotent and reflective C) symbolic and interactive D) reflective and interactive, 23) The current dominant assumption in management theory suggests that How many pairs of children's mittens should Smitten produce per week to maximize its profits? During 2015, Pacilio Security Services experienced the following transactions: Use the graph to estimate the pressure at altitudes of $60000$ feet, $18,000$ feet, and $29,000$ feet. You have a value-weighted index made up of two companies. Economist Gerd Gigerenzer characterizes heuristics as "fast and frugal" ways of reaching decisions. Which argument against free trade becomes particularly popular when the economy goes into a recession? True or False? Suppose there is a reduction of the return provided on U.S. Treasury bonds. The S&P 500 gives more weight to the larger firms than the DJIA does. Economic profits in an industry suggest the industry: Government should not interfere with the operation of the economy. From society's point of view the economic function of profits and losses is to: 1. promote the equal distribution of real assets and wealth. Study with Quizlet and memorize flashcards containing terms like Money is A. the income one earns over a period of time. \text{Salaries payable}&&\text{1,500}\\ According to an article in the Wall Street Journal, demand for organic foods is growing rapidly in the United States and "meat and egg companies like Pilgrim's Pride Corp., Perdue Farms Inc. and Cal-Maine Foods Inc. areexpanding organic production, boosting demand for organic animal feed" But this development hasn't benefited U.S. farmers as much as they had hoped: "U.S. organic-farming groups say that an influx of foreign grain has been a chief factor in slashing prices for organic corn by about 30% in 2016". A. Neoclassical economics believes that government should play a minimal role in the economy, while behavioral economics calls for a more active role for government. An article in the Wall Street Journal discusses the visual effects industry, which is made up of firms that provide visual effects for films and television programs. Study with Quizlet and memorize flashcards containing terms like How do nations benefit from international trade? In the morning, Ike's stockbroker calls to tell him that he has gained $1,000 on his stock portfolio. b. Henderson purchased a nine-month boat insurance policy on November 1 for$8,100. He has described the many books that have become bestsellers by promising to give readers financial advice that will make them wealthy, by, for example, buying and selling real estate. Study with Quizlet and memorize flashcards containing terms like Match the example with the correct market modification method: The Florida Orange Growers Association advocates drinking orange juice throughout the day rather than for breakfast only. By contrast, in the DJIA the higher priced stocks carry more weight because it is a price-weighted average. The market system's answer to the fundamental question "Who will get the goods and services?" What are these reasons? B) any situation in which the probability of loss is zero. Study with Quizlet and memorize flashcards containing terms like T/F - Downloading music into a computers random access memory, or RAM, without authorization is copyright infringement., T/F - A franchisee's breach of the duty of honesty and fidelity can be enough to allow a franchisor to terminate a franchise even if their contract contains a notice-and-cure provision, Donuts Whole 7. results in allocative efficiency because firms produce where price equals marginal cost. Also, with low share prices many more people participate in the stock market which means a larger source of funds for companies seeking financing and basic principles of economics tells us that the greater the supply, everything else constant the lower the price. Alicia and Ramon use the net proceeds from the sale of their stock to purchase $150$ shares of Madison Energy Funds, a mutual fund with a NAV of $29.20$ and an offering price of $30.66$. **10. the United States can produce more of both goods. This growth rate for dividends is expected to continue indefinitely. Frances sells pencils in the perfectly competitive pencil market. The attention may be in the form of other professional managers who will copy the actions of the successful manager. Explain the following comment: "Want to make millions of dollars? Diversification of their industries would increase domestic stability. In a two-nation model, international equilibrium is determined by the ______ of one country and the ______ of the other country. When the bubble bursts these individuals are left trying to adjust, which can be not only inefficient but traumatic. This expression is a time saving way of making the point that for a person who can make so much per hour, every hour spent not working is so much money not made. The expected return is increased but so is the standard deviation of that return (risk). The daily demand function is "Those willing and able to pay for them.". Study with Quizlet and memorize flashcards containing terms like Which of the following best summarizes why HR managers have to use strategy language when discussing the value of HR programs to senior leadership? Similarly, in the case of the Dow Jones Industrial Average, the percentages changes are useful in measuring the performance of the stocks (on average) that make up this index. In recent years, what has been the general worldwide trend regarding tariffs? In reality all of the food is cooked in one central kitchen and none of the restaurants have a physical location. Are essential to the reallocation of resources from less desired goods to more desired goods. In the last decade or so there has been a dramatic expansion of small retail convenience stores (such as 7 Eleven, Kwik Shop, and Circle K), although their prices are generally much higher than prices in large supermarkets. In fact, stockholders may not even be aware of the opportunities because managers and directors do not present them. When are they likely to exit? a. 1. Participants act in their own self interest and seek to maximize satisfaction or profit through their own decisions regarding consumption or production. Run-in head What might be the consequences if citizens were not required to serve on a jury? How does the idea relate to the definition of economics?, Cite three examples of recent decisions that you made in which you, at least implicitly, weighed marginal cost and marginal benefit, State (a) a positive economic statement of your choice, and then (b) a normative economic - number of loan clients: over 400000 Farmers quiz. Pete's Electronics is a small company that produces 8 gigabyte flash drives in a perfectly competitive market. Is the set of integers the union of the set of even integers and the set of odd integers? Money Capital Labor Land and more. $22,000 of the sales were on account and$11,000 were cash sales. d. Increases goal congruence, Henderson Fishing Charters has collected the following data for the December 31 Economic systems differ from one another based on who own the factors of production and: A. Specialization in production is important primarily because it: Specialization-the division of labor-enhances productivity and efficiency by: D. all of the means identified in the other answers. Only realized profits with reasonable certainty are recognized in the profit and loss account However, provision is made for all known expenses and losses whether the amount is known for certain or just an estimation This treatment minimizes the reported profits and the valuation of assets 19 \text { City } & \text { Police } & \text { Number of Crimes } \\ Study with Quizlet and memorize flashcards containing terms like Traditionally, risk has been defined as A) any situation in which the probability of loss is one. In a command system the government owns most property resources. *Answer the problem by yes or no. Staff positions are directly involved in the companys primary revenue-generating activities. In what type of business do the owners bear no personal financial responsibility for the company's debts and obligations? At the end of two years your portfolio is worth: You have a portfolio valued at $1000. D. unlimited liability to the owner of the stock., Two characteristics that make owning stock attractive are: A. unlimited liability and first claim on In the long run, the number of farm stands selling peppers in Milledgeville each day wil. In a market economy the distribution of output will be determined primarily by: B. the quantities and prices of the resources that households supply. Besides this, it offers current accounts, savings, deposit accounts and insurance products to private individuals - many of whom find it difficult to gain support from traditional commercial banks. In particular, the restaurant would increase the number of meals priced at $6.99 from one to four. Multiple select question. This statement best describes the concept of: Which of the following is not one of the five fundamental questions? Financial accounting reports are general-purpose reports. Study with Quizlet and memorize flashcards containing terms like In the above diagram the range of diminishing marginal returns is:, In the above diagram, total product will be at a maximum at:, Refer to the above diagram. The primary effect of ______ opportunity costs is less-than-complete specialization. The advent of DVDs threatens to eventually demolish the market for videocassettes. A tariff imposed on Chinese imports into the United States tends to ______. Interpret these coefficients. 1.In Chicago, Green Summit appears to be running nine different restaurants, with names such as Butcher Block, Milk Money, and Leafage. If Bobby sell 20 glasses of lemonade for $0.20 per cup, and his average total cost is $0.17, what are his economic profits for the day? D. Retained earnings are an accumulation of a company's net income and net losses over all the years the business has been operating. In 2017, two beer drinkers in California filed a lawsuit against Kona Brewing Company, which sells Kona beer. Also, what will be the percentage change in the index resulting from a 10% increase only in the price of A? Also, (2) the S&P is a value-weighted index, meaning it reflects the total value of owning the entirety of the 500 firms. Economic transactions are heavily influenced by moral and ethical factors. Study with Quizlet and memorize flashcards containing terms like Which of the following are functions of exports assistance centers (EACs), Darla's bicycle ship in the United States is experiencing a slowdown in its growth. They collect any remaining assets once the bondholders (and other lenders) are paid. If people could accurately forecast price movements in stocks, they would immediately act on those forecasts, which would cause the price of the stocks to move today. It commits to paying $21 two years from the current date. C. an asset that people are willing to accept in exchange for goods and services. What are the differences between the long-run equilibrium of a perfectly competitive firm and the long-run equilibrium of a monopolistically competitive firm? a detailed examination of specific economic units that make up the economic system. Choi's Traditional Korean Foods loses money on each sale of traditional Korean delicacies, but customers who buy those goods also buy items with strong profit margins. the number of firms in the market for watches would remain the same, the price would remain the same, and each individual firm in the industry would continue to produce the same amount of watches. Following a bumpy launch week that saw frequent server trouble and bloated player queues, Blizzard has announced that over 25 million Overwatch 2 players have logged on in its first 10 days. Suppose that an individual sees a tremendous opportunity to produce and sell a new product, but dismisses the idea because there is no way to exploit this opportunity for personal gain. We can employ the formula from the text: 100. alyclark21. 1. produce 1,000 units of output and break even with a price of $10.00. C. an asset that people are willing to accept in exchange for goods and services. Which of the following best describes what will happen in this competitive market? This clearly makes stock ownership more attractive. More specialization in a market economy generally leads to the more efficient use of its resources. Contract as resources move away from industry Y. some of McDonald's customers, but not all of them, will still demand McDonald's cheeseburgers because. a. an increase in the rate of economic growth b. well-enforced property rights c. a stable international monetary framework d. quotas, A major difference between a tariff and a quota is that a tariff a. will reduce imports, but a quota generally will not. What impact do you think this had on the supply of cattle hides, hide prices, the supply of leather goods, and the price of leather goods? The theory of efficient markets assumes that: The notion that stock prices reflect all current available information: People who claim to have the ability to accurately predict the future prices of stocks: In the first calendar quarter a company issues a surprising report saying that it expects profits to rise in the fourth quarter. What are the larger implications for economic efficiency? The interest rate is 8%. Briefly explain each of these components. Likewise, if the market is not offering enough of a good to satisfy consumer demand, the price will rise. 6. Study with Quizlet and memorize flashcards containing terms like Economic growth, Economic growth is normally calculated as a percentage rate of growth per quarter or per, Real GDP per capita means GDP ____________ a. per country b. in real terms c. divided by capital stock d. per person and more. The price of A equals $30 and the price of B equals $70. Identify what activities drive overhead costs. **6. The market system's answer to the fundamental question "Who will get the goods and services?" Based on equation 7 in the chapter, what is the current price of this stock? Which of the following items can be classified as (d) accrued expense. What are the purposes of the World Trade Organization? The council requested that the head of police conduct research on other cities of a comparable size to ascertain the correlation between the number of officers and the volume of reported crimes before making a final decision. Why are they called inputs? Managerial accounting reports pertain to subunits of the business. The wants of consumers are expressed in the product market with "dollar votes". 9. 87,219. If you understood the discussion of the characteristics of common stocks, you should be able to explain the following statement: One of the benefits from stock ownership is the unlimited upside potential and the limited downside. Study with Quizlet and memorize flashcards containing terms like In the above diagram the range of diminishing marginal returns is:, In the above diagram, total product will be at a maximum at:, Refer to the above diagram. The fact that the best and brightest on Wall Street made so many mistakes shows how hard it is to beat the market. Hedrick Smith was a foreign correspondent for the New York Times who lived in the Soviet Union in the 1970s, a period when the country had a planned economy rather than a market system. Based on equation 7 in the chapter, what is the expected price of this stock for next year? Briefly explain the different focus of valuing stocks taken by behaviorists, chartists, and fundamentalists. Contrast how a market system and a command economy try to cope with economic scarcity. And finally, with many more participants in the stock market we have a market that performs closer to the competitive market model where no one participant can exert considerable influence over the price. What are the potential drawbacks of this system, compared to allowing both domestic and foreign investors to trade in the same market? If we use the intensity figure from the textbook, the $1,000 loss is felt 2.5 more intensely than the $1,000 gain. Who make decisions regarding what to produce and how it is produced C. What kinds of products are produced in the economy and Suppose that you went to a farmers' market and found several different farmers selling cucumbers. josh_parker_wang. Why or why not? Assuming a corporation has not sold stock to the public, conducting corporate business is straightforward. Mibanco in Peru plays an important role in the Latin American microfinance sector. Study with Quizlet and memorize flashcards containing terms like The valuation of an MNC should decline when an event causes the expected cash flows from foreign subsidiaries to ____ and when the foreign currencies denominating these cash flows are expected to ____., The agency costs of an MNC are likely to be higher if it, The Sarbanes-Oxley Act caused corporate 10. c. HR managers need to show how their HR practices support The market system's answer to the fundamental question "What will be produced?" If she has an interest (discount) rate of 7% (0.07), the dividend discount model predicts the current price of this stock should be: Next year, the price of a stock is expected to be $2200 and the stock will pay a $55 dividend. She knows the global market offers many opportunities. The current price of the product covers the variable cost of production. The market price for 8 gigabyte flash drives is $15 each. Is a particular set of institutional arrangements and a coordinating mechanism used to respond to the economizing problem. An opportunity cost is what was sacrificed to do or acquire something else. Compare/contrast the Nasdaq Composite Index with the Dow Jones Industrial Average. easy, so firms can expect to earn zero economic profit in the long run. True or False? A. 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