The operating cost for the lowest 4% of the airplanes is $1,472.
The hourly cost to operate a commercial airplane follows the normal distribution with a mean of $2,080 per hour and a standard deviation of $343.T The operating cost for the lowest 4% of the airplanes.Operating cost of the lowest 4% of the airplanes can be found as follows:-
Let X be the operating cost of the airplane in dollars.Therefore X ~ N(2080, 343)P(X < x) = 0.04 We need to find the value of x.Using standardizing, z = (x - μ) / σWhere μ = 2080, σ = 343 and z is the standard normal random variable.The probability of the standard normal random variable is P(Z < z).P(X < x) = P(Z < (x - μ) / σ)Substituting the values,0.04 = P(Z < (x - 2080) / 343)On looking into the standard normal distribution table, we find the corresponding value of z to be -1.75 Therefore, -1.75 = (x - 2080) / 343 Solving for x,x = 2080 - 1.75 × 343 = $1,472 (rounded off to the nearest dollar).
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In 5 years, only 2.2% of the current internet businesses will still be operating. Use the exponential model F = Foert to determine the annual rate of internet business failures. Write your answer in c
The annual rate of internet business failures is approximately 27.8%.
According to the given information, in 5 years, only 2.2% of the current internet businesses will still be operating. This means that the survival rate of businesses after 5 years is 2.2%, and the failure rate is 100% - 2.2% = 97.8%. To determine the annual rate of failures, we can use the exponential decay model F = Foert, where F is the final value (2.2%), Fo is the initial value (100%), r is the annual rate, and t is the time in years. Substituting the given values into the formula, we have 2.2% = 100%e^(r*5). Simplifying the equation, we get e^(r*5) = 2.2%/100%. Taking the natural logarithm of both sides, we have r*5 = ln(2.2%/100%). Dividing both sides by 5, we get r = ln(2.2%/100%)/5 ≈ 0.278. Therefore, the annual rate of internet business failures is approximately 27.8%.
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ANSWER PLS TIMED
A management consultant to a large transportation company is considering recommending that the company use the Just-In-Time (JIT) management philosophy throughout its operations. Which of these characteristics of the company would probably support the advice to implement the JIT management philosophy? (Select all that apply.)
the freight of the company is widely varied, as are its destinations
the company owns larger warehouses in some major locations
the company engages in mostly international transportation of goods
the company has recently developed partnerships with new subcontractors in its local hubs
Based on the given options, the characteristic(s) that would support the recommendation to implement the JIT management philosophy are:
The company owns larger warehouses in some major locations:The company has recently developed partnerships with new subcontractors in its local hubsHow to implement the JIT management philosophyJIT involves keeping inventory levels low and only ordering or producing goods when they are needed. Having larger warehouses would allow the company to store smaller quantities of inventory while still being able to meet customer demand quickly.
JIT requires close coordination between suppliers, manufacturers, and distributors to ensure that goods are delivered on time. Developing partnerships with subcontractors could facilitate this coordination and improve the efficiency of the company's operations.
The other options are less relevant to the decision to implement JIT. The widely varied freight and destinations would make it difficult to implement JIT, as it may be challenging to predict demand accurately.
Mostly international transportation of goods may also present challenges for implementing JIT, as it involves longer lead times and more complex supply chains.
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If you are projecting your future financially, what are your
doing?
Risking
Forecasting
Managing
Expanding
Answer:
Forecasting
Explanation:
Because a weather forecast looks ahead for weather. You are forecasting your financial future
The Short-run Aggregate supply (AS) slopes up, because _______________________________________, firms have an incentive to produce more to earn higher profits.
Select the correct answer below:
as the price level for outputs falls, with the price of inputs remaining fixed
as the price level for outputs rises, with the price of inputs remaining fixed
as the price level for outputs rises, with the price of inputs rising too
as the price level for outputs falls, with the price of inputs increasing
The Short-run Aggregate supply (AS) slopes up, because as the price level for outputs rises, with the price of inputs remaining fixed, firms have an incentive to produce more to earn higher profits.The correct option is "as the price level for outputs rises, with the price of inputs remaining fixed.
"Explanation:Short-run aggregate supply (SAS) is a measure that assesses the current level of total output given the present capital and labor constraints in the economy. Short-run aggregate supply refers to the production of goods and services using current market rates of input and output. As a result, this is the aggregate supply that is accessible in the immediate term. The short-run aggregate supply curve illustrates the relationship between the price level and the quantity of aggregate production. When the price level rises, the short-run aggregate supply (AS) slopes up because businesses have an incentive to create more to earn higher profits. When businesses produce more, employment rates rise, boosting disposable income, and increasing consumer expenditure. Higher production levels lead to lower prices, which lead to higher consumer demand, ultimately resulting in higher profits for businesses. Therefore, as the price level for outputs rises, with the price of inputs remaining fixed, firms have an incentive to produce more to earn higher profits.
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Why do more educated workers tend to earn more than less-educated workers?
A. Education may make a worker more valuable to employers.
B. More educated workers are more likely to have been in a fraternity.
C. More education means the
worker can get into the labor
market earlier.
Answer:
A) Education may make a worker more valuable to employers
Explanation:
Those who are more educated will be more valuable. Let's say someone in college takes animation class and gets an animation degree. This person will be better at animating than someone who didn't take animation class and has no degree.
The educated workers tend to earn more than less-educated workers because Option(A) Education may make a worker more valuable to employers.
How does education helps a worker to earn more ?Education is a key factor in today's time to establish any individual in a professional path or carrier. Education provides one of the key aspect for the pay-scale of a worker in any private hub or business company. The parameter of education is enough for any worker to surpass its peer competitors in a market field. The company always demands a highly educated individual to work in the firm and thus he or she gets more salary from the less educated workers.
Therefore, the educated workers tend to earn more than less-educated workers because Option(A) Education may make a worker more valuable to employers.
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In 1883, citizens all over america reset their clocks and watches to reflect the current time in one of four new u.s. time zones. these new time zones were the result of _____. a. the united states’ cooperation in a world-wide time zone reform b. american railroad companies trying to simplify and coordinate their schedules c. labor unions arguing the need for factory workers to work the same work day from 8 a.m. to 5 p.m. d. samuel morse’s realization that the sun will rise on the west coast three hours earlier than the east coast
Citizens all over America reset their clocks to reflect the current time in one of four new U.S. time zones as a result of American railroad companies.
Why the time reset?Time reset is often done due to different reasons. It may be due to error or so as to adjust a schedule.
Note that the reset was done o as to fit into the schedule of American railroad companies as they were tying to bring down or make easy and also coordinate their schedules of activities.
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Answer:
B. American railroad companies trying to simplify and coordinate their schedules
Explanation:
What encourages
people to buy
shares in the
ownership of a
private limited
company?
Early views on productivity improvement and how to run an organization smoothly were limited by the notion that work generally consisted of strictly ___________________ where workers were only as efficient and effective as management trained them to be.
Early views on productivity improvement and how to run an organization smoothly were limited by the notion that work generally consisted of strictly "routine tasks" where workers were only as efficient and effective as management trained them to be.
Productivity is a crucial aspect of economic growth and organizational success. It refers to the efficiency and effectiveness with which resources are utilized to produce goods or services. Increasing productivity leads to higher output levels and improved competitiveness. Various factors influence productivity, including technological advancements, skilled workforce, streamlined processes, and effective management. Adopting productivity-enhancing strategies such as automation, continuous improvement, employee training, and incentive systems can yield significant benefits. Productivity improvements contribute to higher profitability, better resource allocation, and increased standards of living. Organizations and economies that prioritize and invest in productivity gain a competitive edge, drive innovation, and foster sustainable growth.
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Discount loans intended for banks that are not financially healthy are called.
Answer: primary credit
Explanation:
Which of the following is NOT a repayment plan option?
O Extended repayment plan
O Loan forgiveness repayment plan
O Income sensitive repayment plan
O Graduated repayment plan
Answer: Loan forgiveness repayment plan.
Explanation:
The Extended Repayment Plan: This is a repayment plan option whereby the loan can be paid back for a period of about 25 years.
The Income-Sensitive Repayment Plan: This is a repayment plan option for those who want low income. Here, payment can either increase or reduce based on what the person earns annually.
The Graduated Repayment Plan: This is a repayment plan option which increases every two years.
The loan forgiveness repayment plan is not a repayment plan option.
What type of process does car rental company employ? Discuss the
process in as much detail you can muster and also include the type
pf machines and number of machines are used.
Car rental companies typically employ a multi-step process that involves reservation, check-in, vehicle preparation, rental agreement, vehicle handover, and return.
In the car rental process, customers usually start by making a reservation either online, through a mobile app, or by contacting the rental company directly. Once the customer arrives at the rental location, they proceed to the check-in counter where their reservation details are verified, and any necessary paperwork, such as a driver's license and payment information, is collected.
Next, the rental company prepares the vehicle for the customer. This may involve cleaning, refueling, and conducting routine maintenance checks. Depending on the company's practices, various machines may be used, such as car wash systems, fuel pumps, and diagnostic tools to ensure the vehicle is in good condition.
After the vehicle is prepared, the rental agreement is finalized. This typically involves the customer reviewing and signing a contract that outlines the terms and conditions of the rental. The rental company may use electronic signature devices or printing machines for this purpose.
Upon returning the vehicle at the end of the rental period, the customer goes through a vehicle inspection process. The rental company may use inspection machines to assess the condition of the vehicle and compare it to the pre-rental state.
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Which among the 4 common errors that leads to unbalanced account is the HARDEST to resolve. Explain Why.
The common errors that leads to unbalanced account and are the easiest to resolve includes the error of Omission, Commission. Original Entry and Duplication.
In accounting, there are different type of error that could result to the unbalanced account, that is, leaving the Trial balance or Balance sheet unbalanced.
Generally, the recognized type of errors in accounting includes:
Error of Original EntryError of DuplicationError of OmissionError of Entry ReversalError of Principle Error of CommissionTransposition ErrorsRounding Errors etcIn conclusion, the common errors that leads to unbalanced account and are the easiest to resolve includes the error of Omission, Commission. Original Entry and Duplication because they are easy to correct.
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The primary purpose of TV, magazines, movies is to entertain.
True
False
Answer:
True, but to inform as well
Explanation:
Where would you find the Create Table Dialog Box?
Data tab, Get & Transform Data group
Data tab, Outline Command group
Insert tab, Charts gallery
Insert tab, Tables command group
Answer:
d
Explanation:
took the test
Answer:
D.
Explanation:
correct on edge
A value hypothesis explains the reasons why a customer may choose not to use a product. True or false
False.A value hypothesis is a declaration of the anticipated worth that a good or service will bring to its users. It describes the advantages and results that users will experience from utilising the product, as well as why users would want to use it.
A value hypothesis is defined.A value hypothesis puts forth a presumption regarding the worth of a product to potential customers. But, it's also possible that your "future clients" are assumptions. A value hypothesis focuses more on the current market.
What is an example of a value hypothesis?The value hypothesis examines how much value your product or service offers clients and, more crucially, if they are willing to pay for it.
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Transcribed image text: Write about background of nestle Market research about nestle 1. Competitors 2. Market share 3. Or many more
Nestlé is a Swiss transnational food and drink company that was founded in 1866. The firm is known for a variety of products, including baby food, coffee, confectionery, pet food, and bottled water. Nestlé has a worldwide presence, with over 2,000 brands in 191 countries. The firm's success is based on innovation and a commitment to quality.
Market research about Nestlé:
1. Competitors: Nestlé has many competitors in the food and drink industry. The company's main competitors are Unilever, PepsiCo, The Coca-Cola Company, Mondelez International, and Danone.
2. Market share: Nestlé has a strong market presence in many countries around the world. The firm has a market share of 20.2% in the global food and beverage market. Nestlé's main markets are Europe, Asia, and the Americas.
3. Other factors: Other factors that impact Nestlé's market research include changing consumer preferences, economic conditions, government regulations, and technological advancements. To maintain its competitive edge, Nestlé must continually innovate and adapt to these changing market conditions.
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Step One: Scenario
You’re working as a database administrator for Quantigration, a
networking equipment manufacturer. The company has grown quickly,
and it’s still figuring out its internal busine
Assess the current database infrastructure, collaborate with stakeholders, implement centralized management, optimize performance, and prioritize data security.
As a data set chairman for Quantigration, a systems administration gear producer, the organization's fast development presents a test in laying out effective inward business processes. The initial step is to evaluate the present status of the organization's data set frameworks and recognize regions for development.
Assess the current information base foundation, including equipment, programming, and information models, to guarantee versatility, execution, and security. Direct a careful examination of the information stockpiling and recovery cycles to distinguish any bottlenecks or shortcomings.
Team up with partners from different divisions to figure out their information necessities and difficulties. This will assist with focusing on the execution of data set arrangements that line up with the organization's business objectives.
Consider executing a unified data set administration framework that merges information from various offices and gives secure access controls. This will further develop information respectability, diminish overt repetitiveness, and smooth out information the executives processes.
Foster information reinforcement and recuperation methodologies to shield basic data. Consistently screen and upgrade information base execution, guaranteeing productive question execution and limiting margin time.
Moreover, give preparing and backing to workers to advance viable information base use and guarantee information administration rehearses are followed.
By zeroing in on improving the data set framework, streamlining information the executives cycles, and encouraging a culture of information driven navigation, Quantigration can lay out a strong starting point for its inner business tasks and backing proceeded with development.
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The complete question is:
Step One: Scenario
You’re working as a database administrator for Quantigration, a networking equipment manufacturer. The company has grown quickly, and it’s still figuring out its internal business processes. Customer return merchandise authorizations (RMAs) are used to track shipments for defective or incorrect parts. The company has identified RMAs as a specific problematic area.
Your supervisor at Quantigration asked you to create a database for a new software application that will be used for processing RMAs. Because there are several locations where merchandise can be taken in, the application must also record where items are received.
This system will also capture where the equipment is going next: repair, scrap, or refurbishing and resale. The warehouse shipping and receiving employees at your company will be using this application; they are considered your “end users” for the application. Part of their job is to process customer return shipments. This involves the following steps:
Assess the quality of the items being returned for defects
Identify missing parts
Identify signs of obvious wear and tear (such as dents or scratches to the equipment)
Carson Trucking is considering whether to expand its regional service center in Mohab, UT. The expansion requires the expenditure of $11,000,000 on new service equipment and would generate annual net cash inflows from reduced costs of operations equal to $4,000,000 per year for each of the next 9 years. In year 9 the firm will also get back a cash flow equal to the salvage value of the equipment, which is valued at $1.1 million. Thus, in year 9 the investment cash inflow totals $5,100,000. Calculate the project's NPV using a discount rate of 10 percent.
If the discount rate is 10 percent, then the project's NPV is
The project's NPV, when calculated using a discount rate of 10 percent, is $3,674,178.
To calculate the NPV, we need to discount each year's cash inflow to its present value and then sum them up. Here's the calculation:
Year 1: $4,000,000 / (1 + 0.10)^1 = $3,636,364.
Year 2: $4,000,000 / (1 + 0.10)^2 = $3,305,785.
Year 3: $4,000,000 / (1 + 0.10)^3 = $3,005,259.
Year 4: $4,000,000 / (1 + 0.10)^4 = $2,731,145.
Year 5: $4,000,000 / (1 + 0.10)^5 = $2,480,132.
Year 6: $4,000,000 / (1 + 0.10)^6 = $2,250,120.
Year 7: $4,000,000 / (1 + 0.10)^7 = $2,039,200.
Year 8: $4,000,000 / (1 + 0.10)^8 = $1,845,636.
Year 9: $5,100,000 / (1 + 0.10)^9 = $2,048,821.
Now, we sum up all the present values of cash inflows and subtract the initial investment:
NPV = ($3,636,364 + $3,305,785 + $3,005,259 + $2,731,145 + $2,480,132 + $2,250,120 + $2,039,200 + $1,845,636 + $2,048,821) - $11,000,000
= $27,342,462 - $11,000,000
= $16,342,462.
Hence, the project's NPV, with a discount rate of 10 percent, is $16,342,462.
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Which of the following best exemplifies structural unemployment?
A college graduate is looking for her first job.
An unemployed electrician does odd jobs for cash on the weekends.
A surveyor was laid off when his company relocated to the Midwest.
A real estate agent is looking for a new brokerage that pays better commissions.
A high school student who worked part-time at Chick-Fil-A® was laid off when sales fell.
Answer: A surveyor was laid off when his company relocated to the Midwest is an example of structural unemployment .
Explanation: Structural unemployment occurs due to job relocation, skill mismatches, rapidly growing population, slow rate of capital formation, demand for labor fall short.
And also due to the fundamental changes in the structure of the economy.
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Why does Katniss think Peeta Wouldnʼt understand about owing someone or paying back your debt )?
Katniss believes that since he is not from the Seam and has never had to battle to survive, only those who have experienced such challenges are aware of "paybacks" or being obligated to others.
Katniss does not understand how individuals frequently do things for others out of love rather than "paybacks" because he saved her life and she does not feel as though she owes him anything.
The most important incident is when Katniss meets Peeta for the first time. Katniss was starving at the moment, and Peeta gave her bread from his family's bakery, basically saving her life. Furthermore, despite being aware that doing so would result in punishment, he allegedly burned bread on purpose to aid Katniss.
Katniss talks about how she's been reliant on Peeta ever since. When Thresh saves Katniss after learning of her partnership with Rue, he also brings up the subject of debt. They are "even," he claims, and nothing more is "due."
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the air in a bicycle tire is bubbled through water and collected at at 25 C. If the total volume of gas collected is 5.45 L at a temperature of 25 C, and a pressure of 745 torr, how many moles of gas were in the bicycle tire
The number of moles of gas in the bicycle tire can be determined by applying the ideal gas law equation and considering the given values of volume, temperature, and pressure.
To determine the number of moles of gas in the bicycle tire, the volume, temperature, and pressure of the collected gas need to be considered. Given that the total volume of gas collected is 5.45 L at a temperature of 25°C and a pressure of 745 torr, the number of moles can be calculated.
To find the number of moles of gas, we can use the ideal gas law equation, which states PV = nRT, where P is the pressure, V is the volume, n is the number of moles, R is the gas constant, and T is the temperature in Kelvin.
However, since the temperature is given in Celsius, it needs to be converted to Kelvin by adding 273.15.
First, convert the temperature to Kelvin: 25°C + 273.15 = 298.15 K.
Next, plug in the values into the ideal gas law equation: (745 torr)(5.45 L) = n(0.0821 L·atm/mol·K)(298.15 K).
Solving for n (number of moles), we get: n = (745 torr)(5.45 L) / (0.0821 L·atm/mol·K)(298.15 K).
Calculating this expression gives us the number of moles of gas in the bicycle tire.
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Which of the following is not a reason that women have traditionally received less pay for doing the same work as men?
Women have been encouraged to pursue careers in lower paying fields such as teaching and nursing.
Some employers have assumed that women are not as interested in career advancement as men.
Women are not as willing to work as hard or as long as men in order to advance in their careers.
Overall, women have had less education, training, and experience in certain occupations than men.
Answer:
Women are not as willing to work as hard or as long as men in order to advance in their careers.
Explanation:
On March 1, the Mixing Department had 550 rolls of paper in process. During March, the Mixing Department completed the mixing process for those 550 rolls and also started and completed the mixing process for an additional 4,150 rolls of paper. The department started but did not finish the mixing process for arn additional 500 rolls, which were 20% complete with respect to both direct materials and conversion work at the end of March. Direct materials and conversion costs are incurred evenly throughout the mixing process.
Direct Direct Manufacturing Total
Materials Labor Overhead Allocated Costs
Beginning inventory, Mar. 1 $280 365 $ 4,125 180
Costs added during March 5,720 3,250 825 13,095
Total costs $6,000 4,490 3,430 13920
Journalize all transactions affecting the company's mixing process during March.
Prepare the journal entry to record the cost of the units completed and transferred out of the Mixing Department.
For the Mixing Department, the following journal entries are prepared.
Journal Entries:
1. Debit Work in Process $13,095
Credit Direct materials $5,720
Credit Direct labor $4,125
Credit Manufacturing overhead $3,250
To record costs of materials, labor, and manufacturing overhead allocated.2. Debit Transfer out $13,630
Credit Work in Process $13,630
To record the cost of units completed and transferred out.Data and Calculations:
Direct Direct Mfg o/h Total
Materials Labor Allocated Costs
Beginning inventory $280 $365 $180 $825
Costs added in March 5,720 4,125 3,250 13,095
Total costs $6,000 $4,490 $3,430 $13,920
Physical Direct Conversion
Units Materials Costs
Units to account for:
Beginning Work in process 550
Started in March 4,650
Total units to account 5,200
Completed & transferred 4,700
Ending work in process 500
Units accounted for:
Ending work in process 500 100 (20%) 100 (20%)
Completed & transferred 4,700 4,700 (100%) 4,700 (100%)
Total equivalent units 4,800 4,800
Direct Conversion Total
Materials Costs Costs
Costs to account for:
Beginning inventory $280 $545 $825
Costs added in March 5,720 7,375 13,095
Total costs $6,000 $7,920 $13,920
Total equivalent units 4,800 4,800
Cost per equivalent unit $1.25 $1.65
($6,000/4,800) ($7,920/4,800)
Costs accounted for:
Completed & transferred $5,875 $7,755 $13,630
(4,700 x $1.25) (4,700 x $1.65)
Ending inventory $125 $165 $290
(100 x $1.25) (100 x $1.65)
Total costs accounted $6,000 $7,920 $13,920
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Ivan has inherited his grandmother’s 1963 Chevrolet Corvette (trust me this is a hot car to own – if you watched Lucifer on TV you know it), which he values at $45,000. He decides that he might be willing to sell it so he posts it on Craigslist for $55,000. Samantha is interested and willing to pay up to $72,000. Would Ivan and Samantha want to voluntarily engage in trade? How much economic surplus is created for both of them as a result of this exchange? Show your calculations. What is the total economic surplus? Explain how you arrived at this number.
This total economic surplus is arrived at by subtracting the value that Ivan put on the car before the trade, $45,000, from the highest value that Samantha is willing to pay for the car, $72,000.
Ivan and Samantha would want to voluntarily engage in trade because there is a gap between what Ivan is willing to accept for the car ($55,000) and what Samantha is willing to pay for it ($72,000).
The economic surplus created for Ivan as a result of this exchange is $72,000 (the amount Samantha is willing to pay) minus $45,000 (the value Ivan placed on the car before the exchange) = $27,000.
The economic surplus created for Samantha is $72,000 (the amount she is willing to pay) minus $55,000 (the amount Ivan is asking for the car) = $17,000.
The total economic surplus created as a result of this exchange is the sum of the individual surpluses: $27,000 (for Ivan) + $17,000 (for Samantha) = $44,000.
This difference of $27,000 is the economic surplus for Ivan, and the difference between the amount Samantha is willing to pay, $72,000, and the amount Ivan is asking for, $55,000, is the economic surplus for Samantha. The total economic surplus is the sum of the two individual surpluses.
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Based on the video, which economic theories were most
clearly applied by the Federal Reserve in response to the
economic crisis?
Describe the connections between the Fed's actions and
the theories of Smith, Keynes, Hayek, or Friedman.
The economic theories that were most clearly applied by the Federal Reserve in response to the economic crisis were based on the theories of Keynes and Friedman.
They both believed that aggregate demand can be influenced by government policies and help an ailing economy to recover.
Hence, we can see that from the complete information, the Federal Reserve made use of their theories to intervene and they did this by the use of monetary policy to increase the money supply.
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Answer:
The Federal Reserve pursued policies that most closely followed the theories of Keynes and Friedman. Both economists argued that aggregate demand could be influenced through policies. They believed that this could help the economy recover or grow. The Fed seemed to follow Keynes's theories by taking action to intervene. It also seemed to follow Friedman's thinking by focusing on increasing the money supply through monetary policy.
Explanation:
ed 22
Which of the following is an example of a game where the customer can choose their own numbers
The game where players are allowed to pick their own numbers is the game of Mega-Millions.
What is Mega-Millions?This is a type of lottery game that is available in several countries around the world and involves players picking certain numbers to stand a chance to win some money.
The players get to choose the numbers they believe will be lucky and then there is a draw. If their numbers are selected, they stand a chance to win.
Options for this question were:
a. Quick Pick game.
b. Mega Millions.
c. Instant Scratch-Off game.
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There were 80 people in the houses I visited. 16 of them were children under the age of 16, 25 people had full-time jobs, and 8 had part-time jobs. There were 10 retirees, 5 full-time homemakers, 7 full-time students over age 16, and 3 people who were disabled and cannot work. The remaining people did not have jobs, but all said they would like one. 3 of these people had not looked actively for work for three months, however.
Find the labor force, the unemployment rate, and the participation rate implied by the survey taker's report.
The labor force that can be depicted from the information about the people will be 36.
How to calculate the labor forceThe labor force will be:
= 25 + 8 + 3
= 36
The unemployment rate will be:
= Unemployed/Labor force × 100
= 3/36 × 100
= 8.33%
The participation rate will be:
= Labor force/Adult population × 100
= 36/(80 - 16) × 100
= 56.25%
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Discussion 1
In Lesson 1 and Lesson 2, you learned that price elasticities of
demand and supply are important for understanding the response of
consumers and producers to changing demand and supply co
Lesson 1 and Lesson 2 indeed emphasized the significance of price elasticities of demand and supply in analyzing the reactions of consumers and producers to fluctuations in demand and supply conditions.
Price elasticity of demand measures the responsiveness of the quantity demanded to changes in the price of a product. It indicates how sensitive consumers are to price changes. If demand is elastic, a small change in price will result in a relatively large change in quantity demanded. On the other hand, if demand is inelastic, quantity demanded will change minimally in response to price variations.
Understanding the price elasticity of demand helps businesses determine the potential impact of price changes on their sales revenue. For example, if demand is elastic, a price decrease may lead to a substantial increase in quantity demanded, thereby boosting total revenue. Conversely, a price increase in elastic demand may result in a significant decline in quantity demanded and lower revenue.
Price elasticity of supply, on the other hand, measures the responsiveness of the quantity supplied to changes in the price of a product. It indicates how sensitive producers are to price changes. If supply is elastic, a small change in price will cause a relatively large change in quantity supplied. In the case of inelastic supply, quantity supplied will change minimally in response to price fluctuations.
Understanding the price elasticity of supply helps businesses assess their ability to respond to changes in demand. If supply is elastic, producers can increase output significantly when prices rise, which helps stabilize prices. In contrast, if supply is inelastic, producers may struggle to increase output, resulting in price spikes during periods of increased demand.
Overall, price elasticities of demand and supply provide crucial insights into the dynamics of markets and help businesses make informed decisions about pricing, production levels, and market strategies.
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2. Which of the following statements does NOT accurately describe the Supreme Court decision in Brown v. Board of Education?
A. It reversed the earlier decision in Plessy v. Ferguson.
B. It held that segregation by race in public education is unconstitutional
C. It quickly brought about integration of schools in this country.
D. It struck down the separate-but-equal-doctrine.
Answer:
"Sweatt struck down “separate but equal” graduate and professional schools. Brown struck down “separate but equal” public schools."
Explanation:
The Supreme Court decision in Brown v. Board of Education struck down the separate but equal doctrine which does not accurately describe. The correct option is D.
What was the decision of the Supreme Court in Brown v Board of Education?The opinion of the unanimous Court was delivered by Chief Justice Earl Warren. The Supreme Court ruled that "separate but equal" facilities are inherently unequal and thus violate the Fourteenth Amendment's Equal Protection Clause.
The United States Supreme Court ruled unanimously in Brown v. Board of Education that public school racial discrimination violated the Fourteenth Amendment to the Constitution. The 1954 decision stated that segregating education programs for white and African American students was inherently unequal.
Thus, the ideal selection is option D.
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How do budget deficits add to the national debt?
Answer:
They are spending more than what they have in the Federal budget causing the national debt to increase.
Explanation:
A government budget is considered to have a 'deficit' if the amount of money required to pay for all government programs is more than the amount of money that they have in their disposal.
When this situation happen, the government typically have two options. First is to increase the tax rate that the citizens have to pay in order to increase their budget. The second is they can borrow the required difference from another country. This what cause the increase in the national debt.