Suppose that Jeff has a US quarter and a US nickel. Jeff believes that his US quarter is more likely to land heads than his US nickel. Suppose Jeff flips his quarter 100 times and gets 51 heads, and Jeff independently flips the nickel 100 times and gets 49 heads.

(a) Construct a 99% confidence interval for the difference in the proportion of times Jeff’s quarter lands heads and the proportion of times Jeff’s nickel lands heads.

(b) If Jeff’s quarter were to truly land heads more often than his nickel, would Jeff hope that the confidence interval in (a) consists of only negative or only positive real numbers? Briefly explain your answer.

(c) What could Jeff do to get a narrower confidence interval than the confidence interval in (a)?

At one time most products purchased in the U.S. were made in the U.S. Now many products you can purchase in the U.S. seem to be made in other countries.

1. State one way that increased sales of goods made in other countries in the U.S. has helped U.S. companies and/or workers and/or consumers?

2. State one way that increased sales of goods made in other countries in the U.S. has hurt U.S. companies and/or workers and/or consumers?

3. On balance, do you think increased sales of goods made in other countries in the U.S. has mostly helped or mostly hurt U.S. companies, workers, and consumers?

4. Name one way that you think U.S. companies can do to better compete with other countries?

1. For strategic trade protectionism to be effective, the:

Select one:

a. good in question must be produced with high-tech equipment.

b. supply of the good in question must be elastic.

c. supply of the good in question must be inelastic.

d. good in question must be one of many goods that the country exports.

2. Which statement provides an explanation for tariffs decreasing market efficiency?

Select one:

a. The supply of goods is not purchased by the buyers with the highest willingness to pay.

b. The supply of goods is not produced by the lowest-cost suppliers.

c. Prices are not equal to the equilibrium price.

d. Deadweight loss is equal to zero.

3. History has shown that one of the most effective tools against child labor is:

Select one:

a. regulations.

b. laws.

c. economic growth.

d. quotas.

A partial income statement for a company's most recent fiscal year follows:

Additional data:
Selling expenses are 20 percent of sales, administrative expenses are 10 percent of cost of goods sold; the income tax rate is 40 percent.

Required:

Supply dollar amounts for blanks a through h. Computations may not be in the order presented. You do not need to show your work for the calculations. Part marks will not be awarded.

1. ____________

2. ____________

3. ____________

4. ____________

5. ____________

6. ____________

7. ____________

8. ____________

A person will decide to take the day off work if the?

person has additional sick days to spare.

marginal cost is less than the marginal benefit.

marginal cost exceeds the marginal benefit.

person can make up the missed work the next day.

Which is not a typical way in which markets differ from one another?

types of goods for sale in a market

days of the week when markets are active

transaction component between buyers and sellers

geographic location of markets

When an economy is producing the mix of goods and services MOST desired by society, that economy is considered to have

productive equitability.

productive efficiency.

allocative equitability.

allocative efficiency.

Capital, as a factor of production, includes all manufactured products that are used to produce other goods.

False

True

If the number employed is 150 million, the prime working-age population is 190 million, and the number unemployed is 10 million, the labor force participation rate is 65%, then the unemployment rate is
  
21.1%
8.2%.
6.3%
5.3%
can not be determined because we do not know what the labor participation rate for the actual working age population is.

In the United States, from the first quarter of 2020 to the second quarter of 2020, assume that real GDP decreases by 2.3%, the unemployment rate rises from 3.6% to 8% and the CPI index goes from 148 to 134. In such an economic scenario,
  
The aggregate demand curve must have shifted leftward, moving down along a short-run aggregate supply curve.
The short-run aggregate supply curve must have shifted leftward, moving up along the aggregate demand curve.
The aggregate demand curve must have shifted rightward, moving up along a short-run aggregate supply curve.
The short-run aggregate supply curve shifts rightward, moving down along the aggregate demand curve.

Problem 16-10 Calculating Cash Collections [LO 3]

References

eBook & Resources

Nakheel is one of the world’s leading property developers, based in Dubai, United Arab Emirates. Nakheel has a portfolio of projects in Dubai across the residential, retail, hospitality and leisure sectors. Master developments include Palm Jumeirah, The World trade Center, Deira Islands, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Al Furjan, Warsan Village, Dragon City, International City, Jebel Ali Gardens and Nad Al Sheba. In the first quarter of 2017, Nakheel announced its highest annual net profits in the company’s history: AED4.96 billion in 2016 – a 13 per cent increase on the 2015 net profit of AED4.38 billion. Nakheel generated a net profit of AED955 million for the last quarter of 2016 – up 22 per cent on the AED781 million posted for the same period in 2015. All these happened even when real estate market is on lower side.

Explain how mangers take decision under turbulent conditions (risk and uncertainty) which lead to better utilization of resources

Question 3

Mr. Livingstone is concerned about the inventories of bottled coconut water the company has been experiencing because of its limited shelf life. He suspects that it is related to bonus packages that the supervisors receive but is uncertain and does not know how to calculate it. The supervisors of Farm Management and the Processing Unit equally share a 2% bonus based on the income of Saddleback Farms every quarter and the company uses the absorption costing approach to financial statement preparation.  He asks for your assistance.

To prepare answers for him, you collect the results of the Coconut water processing activity for the first quarter below.

Budgeted production 108,000 liter

Amount sold   90,000 liters

Selling price                                                                $20 per liter

Variable costs                                                             $12 per liter

Fixed costs                                                                  $216,000

Required:Prepare the income statement under both absorption costing and variable costing to show to Mr. Livingstone the impact of each method on the bonus that the supervisors of the units would earn.  What recommendation (if any) would you make to Mr. Livingstone?