Assume you live in a mid-size city in United states, in the State of Texas. You are starting a healthy energy drink company. Targeting the fitness community in your area. Develop a diagram of the facility layout and justify your layout choice. Show how the product flows through the facility from raw materials to finished product. Diagram should reflect space requirements for each function (machine, operator, and WIP, etc.). Discuss briefly, what happens at each station, and show output at each station (pieces per hour or similar measure). How will you utilize “just-in-time”concepts in your facility? Discuss your Inventory management policies and ERP implementation, if any?
In: Operations Management
Best Buy is the largest consumer electronics retailer in the United States, accounting for 19 percent of the market. Globally, it operates around 4,000 stores in the United States, Canada, Mexico, China, and Turkey. Its subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales, and Future ShopBest Buy distinguishes itself from competitors by deploying a differentiation strategy rather than a low-price strategy. In order to become a service-oriented firm, it changed the compensation structure for sales associates and applied a customer-centric operating model to provide end-to-end services. It also heavily invested in the training of sales professionals so they can better understand products and better assist customers. As a result, the company is widely recognized for its superior service. Best Buy still faces competition, however, from large brick-and-mortar stores like Walmart, as well as e-commerce stores like Amazon. The economic downturn and technological advances (the frequent introduction of new products) have also put stress on its financial strength and the quality of its customer service. The key challenge for Best Buy is to determine the correct path to improve its differentiation strategy.
Assess the company's strengths and weaknesses by examining Best Buy's internal and external environments. Does the company have a competitive advantage? Your response should provide substance and be supported (cite sources
In: Operations Management
Interpret the role that common law has played in health care in the United States. Assess the level at which common law has impacted overall decisions related to healthcare policy. Provide two (2) specific examples to support your rationale.
Differentiate between checks and balances in the separation of power. Specify two (2) examples related to health care from your state government in Georgia.
In: Operations Management
If Brazilian oranges were sold in the United States, oranges and orange juice would be cheaper.
Use the laws of demand and supply to explain whether the above statement is true or false.
If Brazilian oranges are sold in the U.S. market, then the _________ will increase, the price of oranges _________.
A.
quantity of oranges supplied; will fall, and the statement is true
B.
supply of oranges; will fall, and the statement is true
C.
quantity of oranges supplied; will rise, and the statement is false
D.
supply of oranges; will rise, and the statement is false
If Brazilian oranges are sold in the U.S. market, the _________ will increase because _________.
A.
supply of orange juice; the cost of producing orange juice will fall and the quantity demanded will increase
B.
price of orange juice; the demand for orange juice will decrease
C.
quantity supplied of orange juice; it will be cheaper to produce orange juice and the quantity demanded will increase
D.
quantity of orange juice demanded; the quantity supplied will increase and its price will fall
17. Which of the following events in the market for smartphones illustrates the law of demand?
1. The price of a smartphone falls.
2. Producers announce that smartphone prices will fall next month.
3. The price of a call made from a smartphone falls.
4. The price of a call made from a land-line phone increases.
5.An increase in memory makes smartphones more popular.
A.
Events #1, #3, and #4
B.
Only Event #2
C.
Only Event #1
D.
Events #2, #3, #4, and #5
E.
All 5 events
A.
private goods
B.
rival goods
C.
exculdable goods
D.
environmental goods
A.
a flat tax
B.
proportional
C.
regressive
D.
progressive
A.
the economic decline of major industries.
B.
an economic recession.
C.
people not getting along (having friction) with their employers.
D.
changing weather throughout the year.
E.
the normal process of jobs being created and destroyed.
Dry weather has delayed rice planting and harvests will be low. But wheat is enjoying a bumper crop.
Using the demand and supply model, explain how the prices of rice and wheat will change and how the markets for rice and wheat will influence each other.
A poor rice harvest will _____ rice and ____ its price.
A.
decrease the demand for; raise
B.
decrease the supply of; raise
C.
decrease the demand for; lower
D.
decrease the supply of; lower
A.
increases the supply of; raises
B.
increases the demand for; raises
C.
increases the supply of; lowers
D.
increases the demand for; lowers
A.
substitutes, so a higher price of rice will increase the demand for wheat
B.
substitutes, so a lower price of wheat will increase the demand for rice
C.
complements, so a lower price of wheat will increase the demand for rice
D.
complements, so a higher price of rice will decrease the demand for wheat
A.
your real starting salary equals your father’s nominal starting salary.
B.
your starting salary exceeds your father’s starting salary.
C.
your starting salary is less than your father’s starting salary.
D.
your starting salary is the same as your father’s starting salary.
A.
equals the change in total spending divided by the change in total output.
B.
refers to the fact that a change in nonincome-determined spending leads to a larger change in total output and employment.
C.
allows for an increase, but not a decrease, in total output and income since wages and other incomes tend not to fall
D.
is larger the greater the portion of total spending going toward the purchase of imports.
A.
the costs of production will decrease.
B.
competition will force firms to attain economic profits rather than accounting
profits..
C.
competition will force firms to produce surplus output which drives up price
D.
the costs of production will increase.
A.
the deadweight loss that a tax generates.
B.
the inefficiency of a tax.
C.
the revenue collected by government because of a tax.
D.
the division of the burden of a tax between buyers and sellers.
E.
the division of the burden of a tax between the public and the government.
A.
$656
B.
$615
C.
$244
D.
$285
E.
$900
A.
legal barriers to entry
B.
a price-discriminating monopolist
C.
a case in which a single firm controls a resource necessary to produce the good
D.
natural barriers to entry
30. In the long run, a decline in the money supply ______ the price level and will lead to a ______ in real GDP.
a. lowers; reduction.
b. lowers; does not change.
c. lowers; increase.
d. does not change; increase.
A.
lowers, reduction
B.
lowers, does not change
C.
lowers, increase
D.
does not change, increase
A.
sell securities on the open market, raise the reserve requirement, and raise the discount rate.
B.
sell securities on the open market, lower the reserve requirement, and lower the discount rate.
C.
reduce the reserve requirement, reduce the discount rate, and reduce open market operations
D.
buy securities on the open market, lower the reserve requirement, and lower the discount rate.
A.
whether the good is a necessity or a luxury.
B.
the number of substitutes available to consumers
C.
the amount by which the demand curve shifts when the price of another good changes
D.
the time period buyers have to respond to a price change
E.
the price of the good relative to total income
A.
only the importer.
B.
only the exporter.
C.
both the exporter and the importer.
D.
the exporter at all times and sometimes also the importer.
E.
neither the exporter nor the importer.
A.
only the importer.
B.
only the exporter.
C.
both the exporter and the importer.
D.
the exporter at all times and sometimes also the importer.
E.
neither the exporter nor the importer.
A.
a normal; a normal
B.
neither an inferior good nor a normal good;
neither an inferior good nor a normal good
C.
an inferior; an inferior
D.
an inferior; a normal
E.
a normal; an inferior
A.
A reduction in the level of real GDP.
B.
The Fed’s purchase of government securities.
C.
A reduction in the discount rate.
D.
An increase in the required reserve ratio that decreases money supply.
E.
An increase in the price level.
In: Economics
a. Did the JP¥ appreciate or depreciate relative to the US$ between 1990 and 1993? Explain briefly.
b. How would this exchange rate change affect Japanese auto manufacturers who produce cars in Japan for export to the US? Explain your logic.
c. How would this exchange rate change affect Japanese auto manufacturers who have factories in the US and assemble cars there from US and Japanese parts for sale in the US? Are they better off or worse off than the producers in part (b) above? Explain your logic,
d. How would this exchange rate change affect Japanese investment companies who have previously purchased US financial assets? Explain your logic.
e. How would this exchange rate change affect Japanese firms who have US$-denominated loans from US banks? Explain your logic.
In: Economics
With your team, imagine that the United States slapped an anti-dumping duty of 30 percent on aircraft parts imported from China that it believed were being dumped in the U.S. market. Imagine that China then slapped a 35 percent countervailing duty on U.S. auto imports, saying that a recent federal bailout is tantamount to an unfair subsidy for U.S. automakers. You will need to do some research on anti-dumping and countervailing duty to discuss the questions.
What motives do you think are behind China’s countervailing duty against U.S. autos?
2. Should countries experiencing economic difficulties be allowed to erect temporary tariff and non-tariff barriers? Explain.
In: Economics
3. W.T. Grant was the largest retailer in the United States when it caught nearly everyone by surprise by filing for bankruptcy in 1975. W. T. Grant had been in existence since the turn of the century and had a long history of profitability including regularly paying dividends from 1906 to 1974. How is it possible that a company can report positive net income and yet be forced to seek bankruptcy protection?
In: Accounting
The United States has acted to restrict imports of certain Chinese goods, such as toys containing lead and seafood that doesn’t meet US health standards, in order to protect U.S. consumers. Some people have said this shows a double standard: If we are willing to restrict goods on these grounds, why shouldn’t we restrict imports of goods that produced with badly paid labor in Bangladesh, Laos, Vietnam and Haiti, just to name a few of such places. Evaluate why is or is not this argument valid? Provide political economy rationale for such a policy.
In: Economics
The United States economy is currently operating above the full employment level of GDP.
In: Economics
A Big Mac costs $5.25 in the United States, 32.55 pesos in Country X, and 53.55 rupees in Country Y.
a. The implied exchange rate for Country X is pesos per dollar.
b. The implied exchange rate for Country Y is rupees per dollar.
Suppose the official exchange rates are 9.4 pesos per dollar and 8.6 rupees per dollar. Based on this information:
c. the prices of goods in Country X are % (type the word higher or lower) than the U.S.
d. the prices of goods in Country y are % (type the word higher or lower) than the U.S.
e. Suppose real per capita income in the U.S. is $52,000, in Country X it is 200,000 pesos, and in Country Y it is 300,000 rupees.
Round these to the nearest whole number.
PPP adjusted real per capita income in country X is $ .
PPP adjusted real per capita income in country Y is $ .
In: Economics