The term "business model" refers to a company's method of making a profit. It includes a list of any anticipated costs as well as the products or services the business plans to offer, together with its chosen target market.
What is a business model?A business model is a framework for an organization's value generation process. Business models strip business potential down to its essentials. A business model offers fundamental responses to questions about the problem you're going to solve, the approach you'll take to solve it, and the market's development potential.
What are some business model examples?There are various types of business models. Each one differs widely depending on the type of organisation and offering. A manufacturing business, for instance, will run entirely differently from an advertising agency. Even within the same industry, various business models exist.
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The residents of Ireland earn $200 million of income from abroad. Residents of other countries earn $300 million in Ireland. Therefore, Ireland's:
a. net factor payments from abroad are positive, and its GDP is larger than its GNP
b. net factor payments from abroad are positive, and its GNP is larger than its GDP
c. net factor payments from abroad are negative, and its GDP is larger than its GNP
d. net factor payments from abroad are negative, and its GNP is larger than its GDP
Ireland's citizens bring in $200 million from abroad. $300 million is made in Ireland by foreign nationals. Ireland's GDP is higher than its GNP, and as a result, its net factor payments from abroad are negative.
What is the phrase used to describe the revenue received by people and non-corporate businesses?Individual Income. Personal income is the revenue received by households and unincorporated enterprises.
Why do income and spending in an economy have the same value?Income and spending in an economy as a whole must be equal because: Every transaction involves a buyer and a seller. Every dollar that a buyer spends is a dollar that a seller makes. A measure of an economy's revenue and outlays is called the gross domestic product (GDP).
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__________ is a trait that involves enjoying influencing others to achieve shared goals and is shared by successful leaders.Option A: DriveOption B: Business knowledgeOption C: HonestyOption D: Motivation
Successful leaders possess the quality of motivation, which includes loving persuading others to work toward common objectives.
What is the difference between leader and leadership?It's crucial, but also possibly unclear, to distinguish between a leader and leadership. Leadership is the job or task that this person performs; the leader is the individual who plays that role. When referring to people in an organization who hold formal positions of authority, the terms "leader" and "manager" are frequently used interchangeably, regardless of how those people really behave in their roles. A manager may have statutory leadership responsibilities within an organization, but it does not necessarily mean that they actually wield such authority.
What are the leadership traits?A multitude of characteristics, such as ambition, vigor, the desire to lead, self-confidence, and intelligence, are frequently found in leaders. Even while some characteristics are advantageous, they do not guarantee that a person will make a good leader. The premise of the characteristic approach is that certain people are born leaders and are equipped with particular traits that distinguish them from other people.
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Companies within the same industry gather to present, demonstrate, and sell their merchandise at ______.
Janet prefers cashews to almonds. She prefers macadamia nuts to peanuts, but she is indifferent between almonds and peanuts. Which of the following statements can we say for sure? Janet prefers macadamia nuts to almonds. Janet prefers almonds to macadamia nuts. Janet prefers cashews to macadamia nuts. Janet prefers peanuts to cashews.
The statement that can be said for sure woiuld be that Janet prefers macadamia nuts to almonds. Option A
What is meant by preferences?The quality of preferring one item or person over another: She prefers comfortable clothing to fashionable attire. I much like sweet cuisine than hot stuff. The selection of furniture is mostly a question of taste.
Preference is the ranking that an agent assigns to options based on their relative utility in economics and other social sciences. a procedure that yields the "best option" (whether real or theoretical). Preferences are assessments of values, usually in light of practical considerations.
Economists refer to everything we desire in life as "tastes and preferences." These preferences can be little, such as the toppings we enjoy on our pizza, or more significant.
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Suppose, at a given point in time, Louie's Lute Lair is selling lutes in a perfectly competitive market and is producing at a level of output where price is less than marginal cost. Everything else held constant, Louie can increase his firm's profits by the quantity of lutes he produces and the price he charges for them. Select one: A. notchanging; increasing B. decreasing decreasing c. decreasingsincreasing. D. not changing; decreasing E. increasing; increasing F. increasing; decreasing G. increasing; not changing H. decreasing: not changing
The correct option is E. increasing, increasing. In a perfectly competitive market, Louie's Lute Lair is producing at a level of output where price is less than marginal cost. This means that Louie is incurring losses at the current level of production. In order to increase his firm's profits, Louie has to increase the quantity of lutes he produces and the price he charges for them.
Increasing the quantity of lutes produced will result in an increase in revenue, as Louie will receive more money for each lute sold. At the same time, increasing the price of lutes will increase the profit margin on each lute sold, since the cost of producing the lute remains the same regardless of the price charged.
By increasing the quantity of lutes he produces and the price he charges for them, Louie is able to increase his firm's profits. However, this increase will be limited by the fact that the market is competitive. If Louie increases his price too much, he will be undercut by his competitors, resulting in fewer lutes sold and lower profits for him. Therefore, it is important for Louie to find the optimal balance between quantity and price in order to maximize his profits.
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Butchart Gardens is a very large garden in Victoria, British Columbia, renowned for its beautiful plants. It is so large that it could hold many times more visitors than currently visit it. The garden charges an admission fee of approximately $30. At this price, 1,000 people visit the garden each day.
Are visits to Butchart Gardens excludable or nonexcludable? Are they rival in consumption or nonrival? What type of good is it?
What do you think would happen to the number of visitors if the admission fee were reduced to $15? In your opinion, what is the socially optimal admission fee? Justify your answer.
Defend your views by citing information from the book, the Web and/or your own experiences. First, post your response on the discussion board, and then read and reply to the posts of at least two other students, citing those views with which you agree or disagree as well as your reasons for agreeing or disagreeing
As per the garden charges, the socially optimal admission fee is $2 per person.
Here we have given that Butchart Gardens is a very large garden in Victoria, British Columbia, renowned for its beautiful plants.
And it is so large that it could hold many times more visitors than currently visit it.
Here the garden charges an admission fee of approximately $30.
And in this price, there are 1,000 people visit the garden each day.
Here we need to find the socially optimal admission fee.
While we looking into the given question, we have identified that the following details are given,
Number of people per day = 1000
Admission fee = $30
Then the total fees collection is calculated as,
=> 30 x 1000
=> 30000
Then the optimal admission fee that is also known as the expected return is calculated as,
=> 30000/(15 x 1000)
=> 2 per person.
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if a u.s. multinational firm borrows euros for one year at 8% interest, and during the year the euro appreciates by 7% relative to the dollar, the approximate before-tax cost of this debt in dollar terms is
The approximate before-tax cost of this debt in dollar terms is Pre-Tax Cost of Debt = Annual Interest Expense ÷ Total Debt. This is the interest rate a company pays on its debt before cost any tax adjustments are made.
Companies borrow money by either issuing market bonds or taking out a bank loan. The cost of debt is the interest rate on new loans that the company must pay. The yield to maturity reflects the current required interest rate, whereas the coupon rate only reflects the required interest rate at the time the bond was issued. To calculate net debt, first add up all debt and cash and cash equivalents. The total cash or liquid assets are then subtracted from the total debt amount.
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Which of the following CANNOT be included in a written property management agreement under Kentucky law?
A. Provision outlining the conditions under which the licensee is permitted to pay expenses related to the property
B. A copy of the lease that tenants will sign
C. Name and address of the bank where the security deposit will be held by the broker.
D. Agreement that the licensee provide a quarterly written accounting to the owner.
The agreement that the licensee provide a quarterly written accounting to the owner of the following cannot be included in a written property management agreement under Kentucky law. The correct option is D.
What kind of law does Kentucky have?It follows common law in Kentucky. In the common law system, judges decide current disputes using prior cases as precedents.
In order to comply with Kentucky's Statute of Frauds, a contract for the sale of real estate must be in writing. Both parties are not required to abide by verbal agreements or negotiations. There is no deal if one party decides to back out after you and the other party have discussed a price, etc. over the phone.
Thus, the ideal selection is option D.
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in response to a special fundraising campaign, whereby contributions could be used only for construction of a new warehouse, a large number of individuals promised to make cash contributions totaling $2 million during the current fiscal year. the nonprofit believes it will actually collect 80 percent of the promised cash
Net worth with constraints on the donors
Contributions receivable - (dr) $2,000,000
Allowance for uncollectible contributions - (cr) $400,000
Contribution revenue—Support with donor restrictions - (cr) $1,600,000
How is contribution defined in fund accounting?A part of an organization's total registered equity is made up of contributed capital. It might show up separately in the shareholders' equity section of the balance sheet, or it might be split between a common stock account and an additional paid-in capital account.
Right, the contributions are a present asset.When a contribution receivable fits both of the following criteria—that is, when the amount to be received can be calculated with reasonable certainty and when eventual collection is almost certain—it should be classified as an asset.
Contributed Accounts Receivable is the umbrella term for all Business Accounts Receivable that are a part of the contribution given to the company right before the closing.
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two researchers have identical models, data, coefficients and standard error estimates. they test the same hypothesis using a two-sided alternative, but researcher 1 uses a 5% size of test whiles researcher 2 uses a 10% test. which of the following statements is correct?
a) researcher 2 will use a larger critical value from the t-tables
b) researcher 2 will have a higher probability of type I error
c) researcher 1 will be more likely to reject the null hypothesis
d) both researchers will always reach the same conclusion.
Two researchers have identical models, data, coefficients and standard error estimates , both researchers will always reach the same conclusion.
What function do researchers serve?Researchers have an obligation to share their findings, collaborate with others when needed, and transmit and use information for the good of their employer, the economy, and society at large. In the course of their research, researchers have an obligation to conduct themselves honestly and ethically.
What do scientists go by?An individual who does scientific study to increase knowledge in a particular field is referred to as a scientist. There are various factors that encourage scientists to work. Many people want to know how the world came to be and why it is the way it is. They display a keen interest in reality.
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concrete company agrees to lay a foundation for diamond properties, but fails to finish the job. diamond hires earth projects inc. to complete the work. in a suit for breach, diamond may recover from concrete
Concrete company agrees to lay a foundation for diamond properties.
What do you mean by Contract?
A legally enforceable agreement between two or more parties known as a contract establishes, clarifies, and regulates the parties' respective rights and obligations. The transfer of commodities, services, money, or a promise to transfer any of those at a later time are common components of contracts.a pledge made to another party stating whether they will or won't carry out a specific activity in the future. For instance, I'll give you $3,500 in exchange for your car. of oneself. In most cases, it reflects the conditions of the offer—a declaration made through words or deeds that both parties accept the terms of the contract.To know more about Contract here
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support vector machines are a popular machine learning technique primarily because of their relative cost and superior predictive power. their superior predictive power and their theoretical foundation. their relative cost and relative ease of use. their high effectiveness in the very few areas where they can be used.
support vector machines are a popular machine learning technique primarily because their superior predictive power and their theoretical foundation.
What is the main idea of an SVM?SVM or Support Vector Machine is a linear model for classification and regression problems. It can solve linear and non-linear problems and work well for many practical problems. The idea of SVM is simple: The algorithm creates a line or a hyperplane which separates the data into classes
Why SVM is highly accurate?In SVM, the data is classified into two classes and the hyper plane lies between those two classes. The advantage of SVM is that it also considers data being close to the opposite class and thus gives a reliable classification
What is SVM and its advantages?SVM is a supervised training algorithm that can be useful for the purpose of classification and regression (Vapnik, 1998). SVM can be used to analyze data for classification and regression using algorithms and kernels in SVM (Cortes and Vapnik, 1995).
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a(n) _____ should be a member of the internal team that sets the objectives for the project in case specific proposals for plan modifications and additional funding need to be made later on.
A business manager should be a member of the internal team that sets the objectives for the project in case specific proposals for plan modifications and additional funding need to be made later on.
A business manager is a qualified individual who is in charge of managing staff members to ensure operations are productive and efficient and giving instructions on how to perform various jobs most effectively while upholding client satisfaction. Business managers assist in putting strategies into action that will increase sales or profitability.
Planning and organizing are essential abilities for a skilled business manager. Additionally, they must have great judgment, be able to lead others well, and be aware of their management requirements.
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After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $340,000 and Allowance for Doubtful Accounts has a balance of $51,000. What is the net realizable value of the accounts receivable?
Choose matching definition
a. 391,000
b. 340,000
c. 51,000
d. 289,000
Based on the given information, the net realizable value of the accounts receivable is 289,000. Thus the correct option is D.
What are accounts receivable?The money that the corporation will receive from customers who have used credit to acquire its products and services is known as accounts receivable (AR).
The calculation for net realizable value is
Accounts Receivable = $340,000
Allowance for Doubtful Accounts= $51,000.
Net realizable value =A/c Receivable - Allowance for Doubtful accounts
= $340,000 - $51,000
=$289,000
Therefore, option D is appropriate.
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A _____ is a data validation rule that identifies values that are questionable, but not necessarily wrong.
a.
reasonableness check
b.
sequence check
c.
range check
d.
validity check
A range check is a data validation rule that identifies values that are questionable, but not necessarily wrong.
Range checks are used to validate data that must fall within a specific range. There is a defined lower and higher boundary for reasonable values. For instance, a student in secondary school is most likely to be between the ages of 11 and 16. Only numbers from 11 to 16 can be programmed into the computer. A database validation technique is a range check. A range check verifies that data falls inside a predetermined range, between an upper and lower acceptable value. Even strings, dates, and numbers can benefit from range checks. A limit check compares a numerical amount to a predetermined amount. A range check determines whether a numerical value is inside a set lower and upper boundary. The input data will fit into the designated field thanks to a size check.
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Purchasing-power parity holds between the nations of Ectenia and Wiknam, where the only commodity is Spam.In 2020, a can of Spam cost 2 dollars in Ectenia and 16 pesos in Wiknam.The exchange rate between Ectenian dollars and Wiknamian pesos was _____ pesos per dollar.Over the next 20 years, inflation is expected to be 3.5 percent per year in Ectenia and 7 percent per year in Wiknam. If this inflation comes to pass, what will happen over this period to the price of Spam and the exchange rate?Over this period, the price of Spam in Ectenia will (Options: double, triple, quadruple), and the price of Spam in Wiknam will (Options: double, triple, quadruple). (Hint: Recall the rule of 70 from the chapter "The Basic Tools of Finance.") The exchange rate between the two countries will (Options: double, triple, quadruple).
True or False: Ectenia will likely have a higher nominal interest rate.
A friend of yours suggests a get-rich-quick scheme: borrow from the nation with the lower nominal interest rate, invest in the nation with the higher nominal interest rate, and profit from the interest-rate differential.
Which of the following statements explains the flaw in your friend's logic?
A. The scheme would work only if there is greater inflation in one nation than in the other.
B. Nominal exchange rates adjust for the effects of inflation.
C. The scheme would work only if the real interest rates are the same in both nations.
The only good available in Ectenia and Wiknam, where purchasing power parity prevails, is Spam. A can of Spam in 2020 would cost $2 in Ectenia and $16 in Wiknam. Ectenian dollars were worth 8 Wiknamian pesos per dollar at the time.
How is the purchasing power parity determined?By taking the geometric mean of the pricing relationships between each pair of economies for the two varieties of rice, the basic-heading PPP for each pair of economies may be calculated directly. This comparison is bilateral. Indirectly, PPP C/A PPP B/C = PPP B/A can be used to calculate the PPP between economies B and A. A trader might think about selling the currency in issue if the PPP rate shows that it is overvalued relative currency. They might think about adopting a long view of the market if the PPP rate reveals that the currency is undervalued in relation to the USD.
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which of the following is not generally involved in green marketing? developing products whose production, use or disposal is less harmful to the environment than the traditional versions of the product developing products that have a positive impact on the environment pricing products lower than the competition tying the purchase of a product to an environmental organization or event all of the above are involved in green marketing
Answer: Pricing products lower than the competition
Directing you to educational information and resources is one role of a______
Directing you to educational information and resources is one role of a guidance counsellor. Option B
Who is a guidance counsellor?A guidance counselor is a specialist who works in educational settings like schools or universities and offers students academic, personal, and career guidance. They aid in the assessment of their pupils' potential abilities to raise their self-esteem and prepare them for success in their future undertakings.
The process of assisting people in discovering and developing their educational, vocational, and psychological potentialities in order to maximize their level of personal satisfaction and social usefulness is known as guidance counseling, also known as counseling and guidance.
There are five roles that a school counselor can play:
academic, career, behavioral, and aptitude.connecting point for teachers, parents, administrators, and students.preserve student records.Introduce outside organizations.Determine and resolve problems that interfere with education.Read more on the guidance counselor here:https://brainly.com/question/27712678
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ch 2 kb. the predetermined manufacturing overhead rate is calculated by group of answer choices multiplying the predetermined moh rate by the actually allocation base factor multiplying the actual allocation base factor by the estimated annual moh dividing the annual estimated moh by the annual estimated moh allocation base multiplying the predetermined moh rate by the actual allocation base
The predetermined manufacturing overhead rate is calculated by dividing the annual estimated MOH by the annual estimated MOH allocation base.
Predetermined overhead rate is an estimated rate of the cost of manufacturing a product over a specific period of time. The overhead is the cost associated with the manufacturing of a product such as facility maintenance, facility utilities, supplies, equipment, and labor costs. To calculate the predetermined overhead rate for a specific period of time, for example, a fiscal year, the estimated predetermined overhead cost is divided by an allocation base, such as direct labor costs, direct labor dollars, or number of machine-hours. Indirect labor costs, such as executive or supervisor salaries or any labor not related to the physical manufacturing of the product, would not be used in the manufacturing overhead rate.
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using cell references enter a formula in cell b6 to calculate monthly payments for the loan omit the optional arguments
Following is the complete procedure to do the foresaid calculation in the Excel.
Click the Financial button and then PMT in the Function Library group of the Formulas tab. In the Rate argument box, type B3/12. In the Nper argument box, type B4. In the Pv argument box, type B2. Select OK.
Any excel spreadsheet, such as one created in Libre Office Calc or Microsoft Excel.
the following while your cursor is in cell B6.
In the function library group on the formulae tab,
pressed the financial button
then choose PMT.
In the rate argument box, type B3/12.
In the Nper argument box, type b4. In the argument box, type B2.
Hit "OK."
These presumptions were made:
In cell B3, the annual interest rate is kept.
payments are in cell B4
the cell-based loan amount is in B2
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List some of the operations and functions in a company that are dependent on a forecast for product demand.
Production, inventory management, scheduling, facility placement, transportation and logistics, distribution, marketing, and quality control.
What is a company's straightforward definition?A set of people can form new entity called a corporation to carry out and manage a business activity, whether it's the commercial or industrial. An entity could well be set up in a number of ways for tax and responsibility reasons depending on the laws in its jurisdiction.
Briefing:These are some areas that marketing and quality control are related: Marketing aids in predicting demand and sales.
Quality management aids managers in hiring personnel to enhance production efficiency so that it meets consumer demand.
Because forecasting influences both the long-term and short-term market, management in every business management layer views it as a crucial and significant activity.
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TRUE OR FALSE many e-commerce sites now host areas where users can post ratings, questions, or comments about a product or service. the content that is posted in these areas is referred to as customer-generated content (cgc).
True, many e-commerce sites now host areas where users can post ratings, questions, or comments about a product or service. the content that is posted in these areas is referred to as customer-generated content.
What does E-commerce mean?
E-commerce refers to the purchase and sale of goods and services, as well as the transfer of funds or data, over an electronic network, most notably the internet. Transactions can be business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), or consumer-to-business (C2B). E-commerce is typically conducted via the World Wide Web, but it can also be conducted via email, mobile devices, social media, and other digital networks.
What does Service mean?
A helpful act, a kind deed, or work done for the benefit of others are all examples of service. It frequently entails devoting time, effort, and expertise to assist someone in need. In a business context, "service" can refer to any activity that assists in meeting the needs of customers or improving customer satisfaction. It can include providing customers with goods, solutions, or advice.
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A cognitive message strategy:A) invokes feelings or emotions and matches these with the goods, service, or company being advertised.B) is the presentation of rational arguments or pieces of information to consumers.C) is designed to lead more directly to some type of consumer behavior.D) is the manner in which an ad appeal is presented.
A cognitive message strategy: B) is the presentation of rational arguments or pieces of information to consumers.
Presenting consumers with rational arguments or pieces of data is a cognitive communication technique. Processing these concepts cognitively is necessary. When a cognitive message strategy is employed, the main message of the advertisement is focused on the features or advantages of the product. Customers that use the product can gain these advantages.
Designing an advertisement with an impact on a person's beliefs and/or knowledge structure is the aim of the cognitive messaging strategy method. This might be done by bringing up any of the multiple potential product benefits.
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Euro credits feature rollover pricing.
O a. all of these answers
O b. none of these answers
O c.
Rollover pricing was created on Euro credits so that Euro banks do not end up paying more on Euro currency time deposits than
they earn from the loans.
O d. The lending rate on these Euro credits is stated as LIBOR + X percent, where X is the lending margin charged depending upon the
credit worthiness of the borrower. LIBOR is reset according to a set schedule
O
e.
Because of the rollover pricing feature, a Euro credit may be viewed as a series of shorter-term loans, where at the end of each time
period (generally three or six months), the loan is rolled over and the base lending rate is repriced to current LIBOR over the next
time interval of the loan.
In order to prevent European banks from having to pay more for time deposits in euros than they make on the loans, rollover pricing was introduced for Euro credits.
What is the price of the feature rollover for Euro credits?In order to prevent European banks from having to pay more for time deposits in the same currency than they are making back in loans, rollover pricing was developed for Euro credits.In order to prevent European banks from having to pay more for time deposits in euros than they make on the loans, rollover pricing was introduced for Euro credits.Lending in a currency other than the lending bank's own currency is referred to as "Eurocredit." The majority of the time, only major enterprises and governmental organizations apply for Eurocredit loans because of their size and duration.To learn more about Euro credits refer to:
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If you are looking to expand your company's presence online internationally, which of the following should you consider with regards to your online content?
A . Translated by an automated tool only
B Translated but also locally adapted for the audience
C Translated into the native language
D Left the same, and not translated
The answer is (B) Translated but also locally adapted for the audience.
A company's website should be improved in terms of content and languages offered if it wishes to establish an international presence and increase its market.
The expansion of a website's presence into new international markets requires localization and adaptation so that the material not only corresponds to the audience's or user's native tongue but also takes into account the language's linguistic and cultural nuances.
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the short-run macroeconomic equilibrium (or srme) occurs whenever the intersects the sras curve.
when the quantity of aggregate output furnished is equal to the extent of mixture output demanded; graphically, this is the price level and real GDP related with the intersection of the SRAS and AD curves.
Where does the short-run equilibrium occur?Short-run equilibrium happens at the intersection of the combination demand curve with the short-run combination furnish curve. The short-run mixture provide curve relates the volume of complete output produced to the fee degree in the quick run. It is upward sloping because of wage and rate stickiness.
On a graph, this happens at the point the place the AD curve intersects the short-run common provide curve, precisely on the long-run aggregate supply curve.
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https://brainly.com/question/29238246#SPJ4true or false: A right-to-work law allows employees to decide for themselves whether or not they want to join or financially support a union.
It is true that a right-to-work law allows employees to decide for themselves whether or not they want to join or financially support a union.
States have the power to decide whether workers can be obliged to join a labor union in order to gain or keep a job under right-to-work laws.
Currently, workers have the option to join a union in 27 states plus Guam. Although unions are still allowed to exist in certain states, employees cannot be required to join as a condition of employment.20 states introduced right-to-work legislation during the 2014 legislative session, but no new right-to-work states were created. Tennessee passed a right-to-work law in 1947, making it the only state to do so. Any unit of government is prohibited under the 2014 law from passing laws or regulations that violate the rights provided by the National Labor Relations Act.
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early inspections can . question 42 options: increase any further costs being spent on units that are already spoiled prevent any further conversion costs being wasted on units that are already good prevent any further costs being wasted on units that are already spoiled increase conversion costs on units that are already spoiled
Early inspections can increase conversion costs on units that are already spoiled.
The unit expenses of regular and odd spoilage are the equal whilst the 2 are detected on the equal inspection factor. The expenses of regular spoilage are normally covered as a element of the expenses of appropriate gadgets manufactured.
The value of spoiled gadgets is believed to same all expenses incurred in generating spoiled gadgets as much as the factor of inspection. - Spoilage expenses consequently range primarily based totally on exceptional inspection points.
In accounting, regular spoilage is covered withinside the fashionable value of goods, whilst odd spoilage is charged to cost as incurred. This method that the value of regular spoilage might also additionally to start with be recorded as an asset after which charged to cost in a later period.
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A contract with a person who has some sort of mental defect that prevents that person from being able to legally contract means that he lacks _____.
consideration
capacity
mens rea
promissory estoppel
actus reus
A contract with a person who has some sort of mental defect that prevents that person from being able to legally contract means that he lacks promissory estoppel.
What is meant by promissory estoppel ?Promissory estoppel, which is a concept in contract law, is the theory that a party may recover based on a promise made if that party reasonably relied on the promise and the party seeking recovery adversely relied on the promise.
The promisee, the promisor, and the broken promise are the three essential elements required for promissory estoppel. When the promisee loses something because he relied on the promise but it was broken, this is considered unfair.
The equitable principle of promissory estoppel was developed by equity to stop injustice. According to the doctrine, if the promisee changes their mind while acting on the promise of the promisor, the promisor must rescind their agreement.
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when writing off an uncollectible account under the allowance method, is credited, and is debited.
When writing off an uncollectible account under the allowance method allowance for doubtful accounts is debited, and accounts receivable is credited at the end of the accounting period.
What Exactly Are Accounts That Are Uncollectible?Receivables, loans, or other debts that have almost no possibility of being paid are referred to as uncollectible accounts. A debt may become uncollectible for a number of reasons, such as the debtor's bankruptcy, an inability to locate the debtor, the debtor's fraud, or the absence of adequate evidence to support the existence of the debt. Receivables, loans, and other financial obligations that a debtor will not pay are categorised as uncollectible accounts. Accounts that are uncollectible are due to the debtor's bankruptcy or reluctance to pay. The typical return term for goods offered on credit is between 30 and 90 days.
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