Keynesian theory is based on demand side economics, which emphasizes consumer desire for and ability to purchase goods. multiple choice question.
According to Keynesian economists, economic activity and short-term fluctuations are essentially driven by the demand for goods and services. Occasionally, the theory is referred to as demand-side economics.
One of the core tenets of Keynesian or demand-side economics is the emphasis on aggregate demand. The four factors that make up aggregate demand are consumption of goods and services, industry investments in capital goods, governmental spending on public goods and services, and net exports.
Therefore, keynesian theory is based on demand side economics.
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involves coordinating and allocating a firm's resources so that the firm can carry out its plans and achieve its goals, definition of
Coordination and resource allocation are key components of organizing a business so that it may carry out its plans and accomplish its objectives.
Is the procedure of planning, organizing, and allocating a firm's resources to carry out its strategies?Organizing, which is the process of coordinating and assigning a firm's resources in order to carry out its plans, is a second crucial task for managers. The process of organizing involves creating a framework for the firm's employees, departments, and activities. In order to maximize information flow and work process efficiency, managers can structure the firm's structural components. They carry out the following to achieve this separating duties (division of labor), classifying work and personnel (departmentalization), distributing responsibility and power (delegation)
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kingcade corporation keeps careful track of the time required to fill orders. data concerning a particular order appear below: hours wait time 19.1 process time 1.9 inspection time 0.9 move time 2.8 queue time 9.9 the throughput time was: multiple choice 34.6 hours 5.6 hours 29.0 hours 15.5 hours
The throughput time of kingcade corporation equals to 15.5 hours. The Option D is correct.
What is throughput time?In manufacturing, throughput time means the total amount of time that it takes to run a process in its entirety from start to finish.
The computation of the throughput time goes as thus:
Particulars Time
Inspection time 0.9
Add: Process time 1.9
Add: Move time 2.8
Add: Queue time 9.9
Throughput time 15.5
Therefore, the throughput time of the corporation is 15.5 hours.
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Which of the following are characteristics of blockchain technology? (select all that apply)
a. Decentralized technology
b. Distributed transaction ledger
c. Secure framework
d. High profit margins
Decentralized technology, Distributed transaction ledger, Secure framework are characteristics of blockchain technology.
What does Decentralized Technology means?
Decentralized technology, also known as distributed technology, refers to a system in which components are distributed across a network rather than being stored in a centralized system. Users can control and manage their data and activities using this technology without relying on a centralized authority. It also enables more secure and reliable data exchanges and transactions because there is no single point of failure. Furthermore, by eliminating the need for a third party to facilitate transactions, decentralization helps to reduce costs and increase efficiency.
What is Blockchain Technology?
Blockchain technology is a distributed ledger system that is decentralized and records digital transactions across a peer-to-peer network. It is a shared digital ledger of transactions that is constantly growing as new blocks are added to it, with a secure record of each transaction. Each block contains the previous block's cryptographic hash, a timestamp, and transaction data. A blockchain is resistant to data modification by design and is inherently secure, efficient, and transparent.
Threfore the option A,B & C Decentralized technology, Distributed transaction ledger, Secure framework is the correct answer.
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Because close interactions with customers allow employees to better understand them, management should be sent in the field periodically. T/F
The following statement, "Because close interactions with customers allow employees to better understand them, management should be sent in the field periodically." is True.
Customers and employees are the lifeblood of any business. Without them, a business would have no one to serve or sell to, and no one to do the work. That's why it's so important to treat both groups with respect and courtesy.
Of course, there are always going to be differences between customers and employees. Customers are the ones paying for the product or service, so they rightly expect to be treated well. The key is to strike a balance between the two.
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judy owns a bookstore/cafe that has always done pretty well. however, a new competitor recently opened a block away, and judy's business has decreased. which of the following decisions would likely constitute an impermissible action on judy's part?
Judy constructs a repulsive rumor about her rival and spreads it to her clients.
What is impermissible action?
The forbidden is not permitted. Driving a vehicle at a speed of 100 mph on a highway is forbidden everywhere in the United States. You are allowed to do things that are permissible because they are acceptable, agreeable, or legal. The Company may stop making any additional payments that would otherwise be due under this agreement during the Severance Period and (ii) recover from the Executive any and all payments made under this agreement before the Company learned that the Executive was engaging in Impermissible Activities. A major change in the futures contract's or the commodity's constitution or composition that has occurred since the contract's launch date is referred to as a "material change in content."
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The market value of a fund's net assets divided by the number of mutual fund shares outstanding is called the NAV of the fund.
a. True
b. False
The market value of a fund's net assets divided by the number of mutual fund shares outstanding is called the NAV of the fund is option a. True.
What is market value in mutual fund?It is the price at which investors purchase fund shares from a fund company (bid price) and sell them to a fund company (redemption price). The total worth of all the cash and securities in a fund's portfolio, less any liabilities, is divided by the number of outstanding shares to arrive at the fund's NAV.
The total value of the assets owned less the total liabilities equals the Net Asset Value (NAV), which calculates the market value of an investment vehicle, such as a mutual fund.
Therefore, the net asset value of an investment fund is calculated by dividing the number of outstanding shares by the net value of the fund's assets less its liabilities. The pricing of each share is based on the NAV, and funds may be open or closed.
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there are three types of sources of short-term financing mary and john are considering: forego discounts and pay invoices on the due date, attempt to negotiate a monthly pay
Trade credit, bank commercial loans, commercial paper, a particular kind of promissory note, and secured loans are the primary sources of short-term finance.
Why is financing for the short term crucial?
Most short-term loans are returned in a year or less. Less time in payments indicates a lower total amount of interest over the loan's life. Increasing the situation by making these payments on schedule and paying off the debt
What qualities define short-term financing?
Short-term loans are so named because they must be repaid in a short period of time. The typical time frame for repayment is six months to a year, with a maximum of 18 months. A medium-term loan is one with a term that is greater than that.
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assume the market for orange juice is perfectly competitive. orange juice producers currently earn a zero economic profit. orange juice producers will likely begin to incur economic losses in the short run, and some producers will exit the industry until those remaining earn a zero economic profit, if consumers .
Use orange juice though rather than grape juice.
Why do perfectly competitive firms make zero economic profit in the long run?In a perfectly competitive market, businesses can only make or lose money in the short term. Because an infinite number of enterprises generate uniform, infinitely divisible things, revenues and losses are ultimately eliminated.
How do you calculate economic profit in perfect competition?Based on its total revenue and total cost curves, a perfectly competitive organization, like the raspberry farm, can estimate the amount of output that will generate the highest level of profit. Earnings at any given amount is always equal to entire revenue less total costs.
Which of the following best explains why the price marginal cost relationship improves as production increases?Early in the manufacturing process, the marginal product is significantly small, which results in an incredibly high marginal cost.
Which of the following is true in a perfectly competitive market?
On any criterion, it is impossible to separate one unit of usefulness from another. a speculative extreme that can provide valuable insights but is impossible in practice.
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Which of the following technologies are still under development and thus do not require managers to invest in them? o base technologies emerging technologies o key technologies o large batch technologies O pacing technologies
Emerging technologies are still under development and thus do not require managers to invest in them. The correct answer would be option B.
Although the word "emerging technology" is typically used to describe a new technology, it can also apply to an existing technology that is still being developed. The term is typically reserved for technologies that have, or are anticipated to have, significant social or economic effects. It is used to describe technologies that are currently under development or that are anticipated to be available within the next five to ten years.
New legal issues, particularly those involving copyrights, trademarks, patents and licensing, have been brought on by emerging digital technologies, which have also created new opportunities. For instance, the emergence of fresh concerns regarding the digital reproduction and dissemination of copyrighted works has resulted from the creation of new digital communication technologies and media.
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FILL IN THE BLANK. The manager of a chain of dry cleaning stores gathers the competitions' advertisements for analysis and review. She needs these data to help the chain devise its own advertising strategy. The manager is acting in the _____ role.
The manager of a chain of dry cleaners collects ads from rival businesses for evaluation and research. She wants this information to assist the chain in creating its own marketing plan. The manager is serving in an advisory capacity.
Experts in information technology include information managers (IT). They assist firms in coordinating and managing the flow of data by utilizing a special combination of project management, IT knowledge, and interpersonal communication abilities.
There are three roles for information. These include serving as a spokesman, a disseminator, and a monitor. There are four decision-making positions in all. These include being a businessperson, a problem solver, a resource manager, and a negotiator.
The three informational responsibilities that managers must perform are monitor, disseminator, and spokesperson are information collection, dissemination, and transmission.
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match the type of expense to the appropriate tier for the purpose of the home office deduction. tier 1 tier 1 drop zone empty. tier 2 tier 2 drop zone empty. tier 3 tier 3 drop zone empty. generally, expenses allocated to the business use of the home except for interest, taxes, and depreciation generally, mortgage interest and real property tax allocated to the
The following instances of needs must be matched to each level of Maslow's Hierarchy:
What can we learn from Maslow's hierarchy?Our knowledge of motivation, achieving goals, and finding personal fulfilment is strengthened as a result. Additionally, it gives human psychology a structure and clarity that previously appeared elusive. The hierarchy's simplicity has contributed to Maslow's theory's continued popularity over time.
Which of the Maslow hierarchy of requirements are some examples?A few examples include air, food, water, shelter, clothing, heat, sex, and sleep. Among the requirements for safety are weatherproofing, security, peace, and stability. Love and togetherness, including the need for strong relationships as well as a sense of belonging are the primary social wants.
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question 1: which form of business organization should the group select for the new restaurant and why? what would you tell them? provide the legal reasons that support your recommendation, using the key concepts presented in chapters 21 and 22. who is correct? faye and jet (corporation); spike (partnership); or ed (llc)?
The form of business organization should the group select for the new restaurant is partnership.
If two or more people decide to open a restaurant jointly, the partnership is the best type of legal form to use. A partnership is a type of business where two or more persons enter into a legal agreement to be co-owners, share in the organization's profits or losses, and divide the duties for managing it.
A partnership is a type of business where two or more persons jointly own the company and are responsible for managing it and for any profits or losses it makes.
National Government Act. The Indian Partnership Act of 1932, Section 4. 4. A definition of "firm name," "partnership," "partner," and "firmship." The relationship between people who have decided to split the earnings from a firm that is operated by all of them acting for all of them is known as a "partnership."
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If the Fed purchases government securities from commercial banks, the reserves of the banking system will immediately
If Fed purchases government securities from commercial banks, reserves of banking system will immediately increase by amount of the purchase.
What is a government securities?A variety of investment products provided by a governmental organization are referred to as "government securities" in the world of investing. The majority of readers are likely to be most familiar with the Treasury bonds, banknotes, and notes that the U.S. Treasury issues. However, these debt instruments will be issued by numerous governments in order to finance ongoing expenses. The full return of investment principal is guaranteed when government securities reach maturity. Additionally, periodic interest or coupon payments may be made on some government securities. As they are backed by the government who issued them, these securities are regarded as conservative investments with low risk.
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which of the following is a true statement regarding the filing of a joint tax return? the spouse of a member of the military may never sign for the servicemember on a joint return. one spouse can prepare and sign the return and then send it to the other spouse to sign and file. the spouse of a member of the military must have a poa in order to file an mfj tax return. the spouse of a member of the military must have a poa and form 4868 in order to file an mfj tax return.
The spouse of a member of the military must have a POA in order to file an MFJ tax return.
What is the military's function?The Army exists to serve the American people, defend the country, safeguard important national interests, and carry out official military duties. Our objective, which is ongoing, is to give the combatant commanders the required forces and capabilities to support their national security and defense plans.
How powerful is the military?In a broader meaning, the term "military power" can apply to a group's capabilities, such as a fire team, squad, etc., as well as a country's armed forces (in the limited sense). In a military sense, a vast power.
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If the marginal utility of each good consumers buy does not diminish but remains constant, we should witness consumers: a. buying no goods at all. b. spending all of their income on the good with the highest MU.
c. buying one of each good.
d. buying only the least expensive goods.
e. become indifferent to what goods they buy.
With each extra unit of a good consumed, the marginal utility will decrease, according to the concept of decreasing marginal utility.
What is the marginal significance?When anything is described as peripheral, it is insignificant or small. This is a slight improvement over October. Synonyms: negligible, little, low, and inconsequential more adjective synonyms for marginal.
What is meant by marginal at best?Of a value, or of a quality that embodies a value, that borders on being intolerable or likely to cause exclusion from just a group or a category. His writing skills were at most marginal, and since the utility of each thing customers purchase does not decline but instead stays constant, we should observe consumers.
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the application of analytical tools to general-purpose financial statements. the communication of financial information useful for making investment, credit, and other business decisions. general-purpose financial statements only. ratio analysis only. profitability.
True.
How do financial statements work?An organization's financial results, financial condition, and cash flows are all summarized in its financial statements. The balance sheet, cash flow statement, and income statement are a few of them.
What Drawbacks Are There to Financial Statements?
Issuing financial statements has a few drawbacks. They may be fraudulently manipulated, giving investors to assume that the issuing firm has achieved better performance than was actually the case. This is a potential worry. A lender may offer debt to a company that cannot reasonably repay it as a result of such manipulation. Financial statements are totally historical in nature, which makes them potentially misleading when used to forecast future corporate performance.
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True. The application of analytical tools to general-purpose financial statements.
How do financial statements work?An organization's financial results, financial condition, and cash flows are all summarized in its financial statements. The balance sheet, cash flow statement, and income statement are a few of them.
What Drawbacks Are There to Financial Statements?Issuing financial statements has a few drawbacks. They may be fraudulently manipulated, giving investors to assume that the issuing firm has achieved better performance than was actually the case. This is a potential worry. A lender may offer debt to a company that cannot reasonably repay it as a result of such manipulation. Financial statements are totally historical in nature, which makes them potentially misleading when used to forecast future corporate performance.
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You are trying to estimate the average starting salary for students graduating from marketing. You know the population is normal and the standard deviation is $5,000. The mean of your sample of 36 students is $24,000. a. Develop a 96% confidence interval estimate for the population mean starting salary. b. Develop a 95% confidence interval estimate for the population mean starting salary. C. How large a sample must you pick so that your margin of error will be $500 or less with 95% confidence? 2. You have decided to open a new Pub called Moe's. Your research tells you that the majority of your patrons will be 25 or younger. You decided to calculate the average age of people living close to your Pub. You sample 25 people and calculate anyaverage age of 26 with a standard deviation of 6 years. You are certain the distribution is notmal. a. Calculate the 95% confidence interval for the above distribution. b. Calculate the 90% confidence interval for the above distribution. c. Suppose you wanted to calculate the average age so that your margin of error was within 1.5 years at the 95% level of confidence. How large a sample must you choose?
The 96% confidence interval estimate for the population mean starting salary is $25708.33.
What is confidence interval?A confidence interval (CI) is a range of estimates for an unknown parameter in frequentist statistics. The 95% confidence level is the most popular, however other levels, such 90% or 99%, are occasionally used when computing confidence intervals.
The percentage of related CIs over the long run that include the parameter's actual value is represented by the confidence level. For instance, 95% of all intervals calculated at the 95% confidence level should include the parameter's actual value.
The sample size, sample variability, and confidence level are all variables that have an impact on the width of the CI. If everything else remains the same, a larger sample results in a narrower confidence interval, a higher confidence level results in a wider confidence interval, and a more variable sample results in a broader confidence interval.
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The legal environment should influence your choice of contract clauses and expectations related to enforceability.
True
False
True. Your decision on contract clauses & expectations of enforcement should be influenced by the legal landscape.
Why did you use the word "contract"?A contract is an arrangement between parties that establishes legal duties for both parties. The fundamental components necessary for the arrangement to be a valid acceptance of the offer, adequate consideration, capacity, and legality are: mutual permission, expressed through a qualifying offer,
How come a contract is used?A contract's primary function is to formally establish new ties and lay out the numerous legal obligations that each party has to the other. Today, businesses rather than people negotiate most contracts. Repaired and expenditure contracts with the federal government are the two primary categories that are most frequently used.
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Compressing the task durations along the critical path to meet the project completion date is called a. scope creep b. float c. slack d. crashing e. expediting
Compressing the task durations along the critical path to meet the project completion date is called a crashing method.
In its best terms, crashing is a technique in venture control that helps you accelerate the timeline of a challenge via the addition of sources. mission managers and stakeholders regularly use this approach to both keep a challenge's estimated deadline or expedite it.
Crashing in a challenge is an pastime to be able to shorten the finishing touch time of a task in the most reliable cost growth. you could allocate people from a distinct group to an pastime that needs to be sped up. Crashing can also be achieved for character activities inside the task.
As a compression method, crashing concentrates at the undertaking time table which will accelerate the challenge's of entirety date. plausible examples of crashing encompass the following: Over-time. Allocating additional assets to specific activities. Hiring additional resources.
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term loans: question 8 options: 1) are available from commercial banks, insurance companies, pension funds, commercial finance companies, and manufacturer's financing subsidiaries 2) may be repaid on a quarterly, semiannual, or annual schedule 3) are capital expenditure loans with a maturity of more than one year 4) can be secured or unsecured 5) are accurately described by all of the above
Term loans are said to be available from commercial banks, insurance companies, commercial finance companies, pension funds, and manufacturer's financing subsidiaries, and it may be repaid on a quarterly, semiannual, or annual schedule.
The term loans are said to provide the borrowers with a lump sum of cash which is upfront in exchange for specific borrowing terms. So, the term loans are normally meant for established small businesses with sound financial statements.
Term loans are also available for certain institutes such as the commercial banks. However, the borrowers agree in order to pay their lenders a fixed amount over a certain repayment schedule.
Hence, the term loans come in several varieties, which usually reflects the lifespan of the loan.
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Firms that use taper integration also use _____ when they rely on outside-market firms for some of their supplies.a) backward horizontal integrationb) forward vertical integrationc) forward horizontal integrationd) backward vertical integration
The Firms that use taper integration also use backward vertical integration when they rely on outside-market firms for some of their supplies.
What is meant by vertical integration?An structure in which a corporation's supply chain is integrated and owned by that company is referred to as vertical integration in the fields of microeconomics, management, and international political economy. The business structure known as vertical integration involves a company controlling various supply chain stages. To have more control over the production process, the business tries to bring processes in-house rather than relying on outside vendors. For businesses like Amazon, Apple, Ferrero, Tesla, and NVidia, vertical integration has been a key component of their strategies ever since 2021. We explain why major corporations are altering their strategy in this post. By integrating vertically, businesses can do away with high markups and other expenses related to brokers or wholesalers.To learn more about vertical integration refer to:
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Properly designed and targeted telemarketing provides many benefits, including purchasing convenience and increased product and service information.
Numerous advantages can be obtained by well-planned and targeted telemarketing, including easier shopping and more information about goods and services.
Is the assertion accurate?True, well-planned and focused telemarketing offers a variety of advantages.
How does telemarketing operate and what is it?Telemarketing is a direct form of advertising in which a sales professional makes phone calls to potential clients to promote a product or service. Customers may be contacted by salespeople via phone, email, or other means on the internet. Selling goods or services over the phone is known as telemarketing. Businesses will occasionally refer to it as "tele-sales" or "inside sales."
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Luker Corporation uses a process costing system. The company had $169,500 of beginning Finished Goods Inventory on October 1. It transferred in $846,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $167,200. The entry to account for the cost of goods sold in October is:
Multiple Choice
Debit Cost of Goods Sold $846,000; credit Finished Goods Inventory $846,000.
Debit Cost of Goods Sold $848,300; credit Finished Goods Inventory $848,300.
Debit Cost of Goods Sold $848,300; credit Work in Process Inventory $848,300.
Debit Finished Goods Inventory $167,200; credit Cost of Goods Sold $167,200.
Debit Finished Goods Inventory $846,000; credit Work in Process Inventory $846,000.
Debit $848,300 for the cost of goods sold; credit The item to reflect the cost of goods sold in October is Finished Goods Inventory $848,300.
Cost of Goods Sold Debit 848,300
(169,500+846,000-167,200) = 848,300 Credit - Finished Goods Inventory
The direct expenses incurred in creating the products a business sells are referred to as COGS. The cost of the materials and labor used directly to make the good are included in this sum. Indirect costs like those associated with the sales force and distribution are not included.
Due to the fact that COGS is deducted from revenues to calculate gross profit, it is a crucial financial statement indicator. The gross profit is a profitability indicator that assesses a company's capacity to effectively manage its work force and resources during the production process.
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according to our understanding of integrated marketing communications, which of the following is not an example of one of the 10 rules of integration?
According to our understanding of integrated marketing communications, of the following is not an example of one of the 10 rules of integration start with a large budget.
How ought a novice to establish a budget?Set some objectives.
Establish your income.
Establish your costs.
Establish a budget.
Initially, pay yourself!
Be cautious when using credit cards.
Regularly check back.
How do you begin a strict spending plan?First, figure out your net income. Your net income is the basis of an efficient budget.
Next, keep tabs on your spending.
Step 3 is to make practical goals.
Make a plan in step four.
5. Modify your expenditures to keep inside your spending limit.
Step 6: Regularly review your spending plan.
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With regards to the technology adoption diffusion curve, in a tornado situation, O a. the entrepreneur's most important job is to give the customer a compelling reason to buy. O b. innovators and early adopters are the only ones with an interest in the technology. O c.customer demand fluctuates wildly. O d. the technology abruptly stops selling. O e. there is more demand than a company can possibly manage.
Laggards (16%): People in this group were the last to adopt a new technology.
What is a diffusion curve of adoption?A diffusion curve of adoption is a graphical representation of the process by which a product or service is adopted by consumers over a given period of time. It shows the cumulative number of adopters of the product or service at any given point in time. The curve can also be used to compare the rate of adoption among different products or services. The curve typically follows a sigmoidal pattern, with a slow initial rate of adoption, followed by a rapid increase in the number of adopters, and then a gradual decrease in the number of adopters until the product reaches its maximum level of adoption.
Individuals in this category, in contrast to some of the categories that came before it, exhibit little to no opinion leadership.
These people typically have a tendency to be older and dislike change-agents.
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for a company's competitive strategy to succeed in delivering good performance or the intended competitive advantage over rivals
It needs to be supported by a collection of assets, expertise, and competitive qualities that are well matched to the strategy.
The term "competitive advantage" refers to a company's ability to manufacture goods or provide services more effectively than its rivals. It enables a business to produce value for the business and its shareholders while achieving greater margins.
A competitive advantage is something unique to a firm or industry that cannot be easily imitated. Internally generated value is what differentiates the company from its rivals.
Competitive advantages can take many different forms. They consist of, but are not restricted to, the following:
1) availability of natural resources not obtainable from rivals
2)Strong brand recognition and highly
3) competent workforce Access to proprietary or new technology
4) Price management
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Consider the case when Sony uses a Periodic Review Policy (I, S). Sony plans to order from its supplier once in fourteen business days, corresponding to a Review Period of I = 14 business days. The supplier delivers each order in a lead-time of 6 business days. Sony has an expected (average) daily demand of 150 units with a standard deviation (of daily demand) of 30 units. The management team at Sony continues to target a 93% service level. What is the appropriate safety stock (SS) ? Given the appropriate safety stock (SS) and the same information as in question 4, what is the appropriate base stock (S)? (Considering your answers to questions 4 and 5) What happens to SS and S (increase or decrease) if the service level is increased from 93% to 95%? Given all information from question 4,5, and 6, if Sony has 220 cards leftover in inventory at the end of a review period, how much should it order from its supplier to have a 93% service level? Given all information from question 4,5,6. If Sony has 220 cards leftover in inventory at the end of a review period, how much should it order from its supplier to have a 95% service level?
A The standard deviation (or ) measures how widely distributed the data are in relation to the mean. Records are concentrated throughout the suggest if the general deviation is low, and high if the trend deviation is
Give a definition of a periodic review system and an illustration:
The periodic review technique allows you to estimate the quantity of a product your business has on hand at predetermined, set intervals of time (such as every Friday or the last day of every month).
What benefit does a system of periodic reviews offer?
The periodic inventory method has the benefit of eliminating the requirement for separate accounting for inventories of raw materials, work-in-progress, and finished items. The only thing that is noted are purchases.
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which of the following will decrease the demand for money? which of the following will decrease the demand for money? an increase in the interest rate inflation an increase in nominal gdp an increase in the number of businesses and vendors accepting debit cards
An increase in the availability will decrease the demand for money. The demand for money increases as the price level rises. In contrast, the desire for money declines as the level of prices rises.
In monetary economics, the desire to hold financial assets in the form of money—specifically, cash or bank deposits rather than investments—is referred to as the demand for money. It might relate to the demand for money as it is more broadly defined in M2 or M3, or as it is more specifically defined in M1.
The need for money explains why people want a specific sum of money. The amount of money that people want to keep depends on the value of the transactions that need to be managed. The quantity of money sought increases with the volume of transactions.
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If an oligopoly is faced with a kinked demand curve which is relatively elastic above and relatively inelastic below the going price, then it will:
(a) increase total revenue by increasing price, but decrease total revenue by decreasing price.
(b) increase total revenue by decreasing price, but decrease total revenue by increasing price.
(c) increase total revenue by either increasing or decreasing price.
(d) decrease total revenue by either increasing or decreasing price.
(d) decrease total revenue by either increasing or decreasing price.
kinked-demand curve model of oligopoly:This model was developed independently by Prof. Paul M. Sweezy on the one hand and Profs. R. C. Hall and C. J. Hitch on the other hand.
The assumptions of kinked-demand curve model of oligopoly are:
(i) In an oligopolistic market, there aren't many companies.
(ii) The businesses are making nearly identical products.
(iii) The companies don't invest in advertising, and the quality of the goods stays the same.
(iv) The product has previously been assigned a set of pricing, and these prices are now in effect.
Because oligopolistic prices may shift seldom, the kinked-demand curve model of oligopoly can help to explain why.
Due to the fact that an oligopoly's kinked demand curve is highly elastic above and relatively inelastic below the going price.
This means that because demand is inelastic and price declines, the response to a price rise is less than the response to a price decrease. As a result, either an increase in price or a decrease in price will reduce overall income.
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Real GDP is:
A. calculated by adding up only the real number of all items sold in the U.S. regardless of their prices.
B. the value of the production of all final goods and services adjusted for price changes.
C. the value of the production of all final goods and services measured in current prices.
D. the projected future value of GDP.
Real GDP is the worth of all final good and service production that has been modified for price changes.
What makes GDP so crucial?The importance of GDP can be attributed to the information it provides regarding the size and health of an economy. Real GDP growth is frequently employed as a gauge of the state of the economy as a whole. Real GDP growth is generally considered a positive indicator of the health of the economy.
The GDP calculation method is?GDP equals private consumption plus gross domestic product plus government investment plus government spending plus (exports – imports). The national statistical office of the nation typically calculates GDP using the international standard.
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