The GDP is an inaccurate measure of wellbeing because:

Which of the following items is counted toward US GDP

A used textbook buyer who has been laid off because students can sell used textbooks online is an example of

Full employment means

CHAPTER 18

ALLIED TESTING COMPANY MANUFACTURES AND SELLS THERMOMETERS THAT DETECT BODY TEMPERATURE. IT IS EXPECTING AN INCREASE IN SALES DUE TO THE CORONAVIRUS PANDEMIC. ALLIED HAS APPLIED FOR A LOAN TO FUND EXPANSION AND THE BANK IS REQUIRING FINANCIAL INFORMATION.

2020 ACTIVITY

NET REVENUE FOR THE YEAR                          $2,700,000

SELLING EXPENSES                                  $ 200,000

ADMINISTRATIVE EXPENSES                           $ 110,000

BEGINNING FINISHED GOODS INVENTORY                $   40,000

ENDING FINISHED GOODS INVENTORY                   $   60,000

BEGINNING WORK IN PROCESS INVENTORY               $ 20,000

ENDING WORK IN PROCESS INVENTORY                  $ 100,000

BEGINNING DIRECT MATERIALS                        $ 250,000

DIRECT MATERIALS PURCHASED DURING MONTH           $ 740,000

ENDING DIRECT MATERIALS                           $   80,000

DIRECT LABOR FOR THE MONTH                        $ 220,000

PLANT UTILITIES FOR THE MONTH                     $   27,000

PLANT INSURANCE FOR THE MONTH                     $   19,000

PLANT MAINTENANCE FOR THE MONTH                   $   30,000

PLANT DEPRECIATION FOR THE MONTH                  $   24,000

REQUIRED:

1.    PREPARE COST OF GOODS MANUFACTURED FOR 2020.

2.    PREPARE COST OF GOODS SOLD FOR FEBRUARY 2020.

3.    PREPARE INCOME STATEMENT FOR 2020.

   CHAPTER 18

   ALLIED TESTING COMPANY MANUFACTURES AND SELLS THERMOMETERS THAT DETECT BODY TEMPERATURE. IT IS EXPECTING AN INCREASE IN SALES DUE TO THE CORONAVIRUS PANDEMIC. ALLIED HAS APPLIED FOR A LOAN TO FUND EXPANSION AND THE BANK IS REQUIRING FINANCIAL INFORMATION.

   2020 ACTIVITY

   NET REVENUE FOR THE YEAR                          $2,700,000

   SELLING EXPENSES                                  $ 200,000

   ADMINISTRATIVE EXPENSES                           $ 110,000

   BEGINNING FINISHED GOODS INVENTORY                $   40,000

   ENDING FINISHED GOODS INVENTORY                   $   60,000

   BEGINNING WORK IN PROCESS INVENTORY               $ 20,000

   ENDING WORK IN PROCESS INVENTORY                  $ 100,000

   BEGINNING DIRECT MATERIALS                        $ 250,000

   DIRECT MATERIALS PURCHASED DURING MONTH           $ 740,000

   ENDING DIRECT MATERIALS                           $   80,000

   DIRECT LABOR FOR THE MONTH                        $ 220,000

   PLANT UTILITIES FOR THE MONTH                     $   27,000

   PLANT INSURANCE FOR THE MONTH                     $   19,000

   PLANT MAINTENANCE FOR THE MONTH                   $   30,000

   PLANT DEPRECIATION FOR THE MONTH                  $   24,000

   REQUIRED:

4.    PREPARE COST OF GOODS MANUFACTURED FOR 2020.
5.    PREPARE COST OF GOODS SOLD FOR FEBRUARY 2020.
6.    PREPARE INCOME STATEMENT FOR 2020.

After reading the case that is below, How can a foreign company entering China ensure that it tackles the most important “little” things that end up being huge barriers to success as we approach the year 2020 when China is expected to have significantly increased purchasing power among its middle class?​ Write your opinion, as a manager, on how to face cultural issues like those described in the case, when entering foreign markets.

The People's Republic of China opened up to foreign investments in the late 1970s. Since that time, numerous companies have tried to establish operations and sell their products to customers in China. Many more companies will try in the years to come—China is expected to have some 190 million people in the middle- and upper-income categories by 2020. This is an increase from only about 17 million people in these income brackets as recently as in 2010. China's purchasing power for virtually all products and services has strong potential, and foreign companies will seek these market opportunities. What have we learned culturally that can help Western-based companies in China's marketplace?

Some background on China can serve as a starting point for better understanding the culture in China and what some well-known companies such as Best Buy and eBay have done to target the Chinese marketplace. The motivation for many foreign companies to enter China—beyond those that have been there for a few decades for reasons of low-cost production—was the triple growth of the Chinese economy that was seen from 2000 to 2010. China overtook Japan to become the second-largest economy in the world behind only the United States, and its large population makes for an enormous target market. Investment from foreign companies was the largest driver of China's growth in the decade from 2000 to 2010. However, many companies also increased their exports to China. The United States, for example, saw its companies increase exports to China by 542 percent from 2000 to 2011 (from about $16.2 billion to $103.9 billion), while total exports to the rest of the world increased by only 80 percent in the same time period.

Interestingly, while foreign investments grew, domestic consumption as a share of the Chinese economy declined from 46 percent in 2000 to 33 percent in 2010. This consumption decline—coupled with slower growth globally and, ultimately, the worldwide economic downturn that started in 2008—raised questions about China's momentum. Right now, around 85 percent of mainstream Chinese consumers are living in the top 100 wealthiest cities. By the year 2020, these advanced and developing cities will have relatively few customers who are lower than the middle- and upper-income brackets by Chinese standards. The expectation is that these consumers will be able to afford a range of products and services, such as flat-screen televisions and overseas travel, making the Chinese customer much more of a target for a wide variety of consumption. This begs the question, can the unprecedented Chinese growth really continue, and would it come from increased consumption?

The resounding answer is yes according to research conducted by McKinsey & Company. McKinsey found that barring another major economic shock similar to what we saw in 2008, China's gross domestic product (GDP) will continue to grow, albeit not at the historic levels seen between 2000 and 2010 when it grew about 10.4 percent annually. The growth from 2010 to 2020 is expected to be about 7.9 percent per year, which is still far above the expected growth for the United States (2.8 percent annually), Japan (1.2 percent annually), and Germany (1.7 percent annually)—the three countries among the top four worldwide economies along with China. And, the key is that consumption will now be the driving force behind the growth instead of foreign investment. The consumption forecast opens up opportunities for foreign companies to engage with Chinese consumers who are expected to have more purchasing power and discretionary spending.But culturally translating market success from one country or even a large number of countries to the Chinese marketplace is not necessarily as straightforward as it may seem. Often, a combination of naiveté, arrogance, and cultural misunderstanding have led many well-known companies to fail in China. Lack of an understanding of issues such as local demands, buying habits, consumption values, and Chinese customers' personal beliefs led to struggles for companies that had been very successful elsewhere in the world. Let's take a brief look at Best Buy and eBay as two examples.

Best Buy, the mega-store mainly focused on consumer electronics, was founded in 1966 as an audio specialty store. Best Buy entered China in 2006 by acquiring a majority interest in China's fourth-largest appliance retailer, Jiangsu Five Star Appliance, for $180 million. But culture shock hit Best Buy, best described by Shaun Rein, the founder of China Market Research Group. He pointed to a few reasons for this culture shock and lack of success. First, the Chinese will not pay for Best Buy's overly expensive products unless they are a brand like Apple. Second, there is too much piracy in the Chinese market, and this reduces demand for electronics products at competitive market prices. Third, like many Europeans, the Chinese do not want to shop at huge mega-stores. So, these three seemingly easy-to-understand cultural issues created difficulties for Best Buy. Solving these issues, Best Buy believed that it would have to develop and implement a different business model for the Chinese market than it has used, for example, in the United States. Now, how far should a company go outside its normal business model to adhere to cultural values and beliefs of a new market? Strategically moving forward, Best Buy opted to close all of its Best Buy–branded stores in China and focus on its wholly owned local Jiangsu Five Star chain of stores. But will this new strategic business model be successful with the new makeup of customers in China expected by 2020?

eBay, the popular e-business site focused on consumer-to-consumer purchases, was founded in 1995. The company was one of the true success stories that lived through the dot-com bubble in the 1990s. It is now a multi-billion-dollar business with operations in more than 30 countries. But China's unique culture created problems for eBay in that market. Contrary to the widespread cultural issues that faced Best Buy, one company in particular (TaoBao) and one feature more specifically (built-in instant messaging) shaped a lot of the problems that eBay ran into in China. Some 200 million shoppers are using TaoBao to buy products, and the company accounts for almost 80 percent of online transaction value in China. Uniquely, TaoBao's built-in instant messaging system has been cited as a main reason for its edge over eBay in China. Basically, customers wanted to be able to identify a seller's online status and communicate with them directly and easily—a function not seamlessly incorporated into eBay's China system. Clearly, built-in instant text messaging is a solvable obstacle in doing business in China. It sounds easy now when we know about it, but may not always be the case when we take into account all the little things that are important in a market.

Describe culture.How would your university go about creating a unique culture to capture student attendance for your university?

1. Transactions between the US and the rest of the world are shown below. Use the following information to answer the next four questions.

   1. US citizens spend 50 million dollars visiting China.
   2. American companies sell 30 million dollars worth of stock to foreign investors.
   3. US citizens receive 10 million dollars worth of dividend payments from foreign corporations.
   4. US government buys 5 million dollars worth of bonds.
   5. American citizens purchase 35 million dollars worth of Japanese produced vehicles.
   6. US government buys 18 million dollars worth of gold.
   7. Ford sells 80 million dollars worth of cars overseas.
   8. US corporations receive 4 million dollars in interest from foreign corporations.
   9. US citizens send 16 million dollars in disaster relief to Haiti.

   Find the US balance of trade (in millions of dollars).

   		- 7
   		45
   		19
   		None of the above

6.25 points   

QUESTION 3

1. Find the capital account balance (in millions of dollars).

   		25
   		21
   		3
   		5

6.25 points   

QUESTION 4

1. Find the current account balance (in millions of dollars).

   		18
   		-7
   		9
   		- 5

6.25 points   

QUESTION 5

1. Find the official reserve account balance

   		$18 million
   		-$18 million
   		-$23 million
   		$23 million

In the early 2000’s, DHL expanded its worldwide air express package delivery service to the US market in direct competition with UPS and FedEx. After several years and more than one billion dollars in losses, DHL admitted defeat in 2008 withdrawing from most US markets while shedding some 15,000 US jobs.

Think back to DHL announcement of its intention to enter the US market. Various stakeholders would greet the prospect of increased competition differently.

In this discussion forum, address the following:

Choose two of the following stakeholder groups, preferably with opposing views, and explain from their perspective why you oppose or support the entry of DHL in the US domestic market:

• Federal, state and/or local governments
• FedEx and UPS management
• FedEx and UPS employees
• DHL management
• DHL employees
• Labor unions representing FedEx and UPS employees
• Small package shippers

You are asked to perform an assessment of a pregnant woman and her family. Prior to the assessment, devise a list of interview questions to use to assess the woman's readiness for parenthood and current health status as well as her goals for the pregnancy?

Discuss the necessity for having a skilled clinician in administering an unstructured interview. Elaborate on the need for the clinician to remain sensitive, unbiased, and nonjudgmental. What would happen if the clinician showed the opposite behavior? How would the client respond?

If I were to interview an hr manager, what type of questions would I ask her regarding technology, teamwork and diversity; about how she uses job analysis in interviews?

About HR Assignment

In an interview, you were asked to prepare a short essay to elaborate the integration process in handling limited resources in engineering project. It requires you to reflect yourself in the Project Manager roles. (Word limit : 700 to 800 )