Define optimism bias and overconfidence bias in finance. What is the difference between the two? Have you ever encountered these cognitive biases from your personal finance experience or work experience? Can you share with us?

Briefly contrast a nation’s level of trade with its balance of trade and identify three factors that strongly influence a nation's level of trade.Then identify and list from greatest to smallest the main budget categories for the US federal government.

US-China Trade War

Research and explain the factors that you believe to have contributed to the trade dispute between the USA and China.

Give your opinion on whether there can be any winners or losers resulting from this conflict.

Why do US private sector unions typically oppose free trade agreements? From a historical perspective, why does the Democratic party oppose free trade while Republicans typically support it? What are the arguments.

Utilizing ONLY the information from all three chapters, explain how management has changed over the past 100 years. State five factors affecting the change and has led us to a global business environment.

What are two areas that you believe are primary contributors to the '08-'09 financial crisis for both the US and Iceland? Hello! Please help explain the two areas from an economic standpoint (preferably Macro but anything will do).

The Canliss Milling Company purchased machinery on January 2, 2019, for $860,000. A five-year life was estimated and no residual value was anticipated. Canliss decided to use the straight-line depreciation method and recorded $172,000 in depreciation in 2019 and 2020. Early in 2021, the company changed its depreciation method to the sum-of-the-years’-digits (SYD) method.

Required:
2. Prepare any 2021 journal entry related to the change. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

journal entry

Record the adjusting entry for depreciation in 2021.

After reading the article by Michael Porter on his Diamond of National Advantage (in addition to Dyer et al, (2020), Chapt 9, p.164, Figure 9.5), apply Porter’s Diamond Yahoo company and an international geographic market where the organization currently does business. Briefly apply the four factors of the diamond Yahoo and a specific market location (country or region). You may need to do research on the company and its operations in that international market. How important do you feel the “clustering” of related and supporting industries might be to Yahoo?

Structuring a Make-or-Buy Problem

Fresh Foods, a large restaurant chain, needs to determine if it would be cheaper to produce 5,000 units of its main food ingredient for use in its restaurants or to purchase them from an outside supplier for $12 each. Cost information on internal production includes the following:

Fixed overhead will continue whether the ingredient is produced internally or externally. No additional costs of purchasing will be incurred beyond the purchase price.

Required:

1. What are the alternatives for Fresh Foods?
Make the ingredient in house or buy it externally.

2. List the relevant cost(s) of internal production and of external purchase.

All of the above

3. Which alternative is more cost effective?
Make the ingredient in-house

By how much?
$

4. Now assume that 20% of the fixed overhead can be avoided if the ingredient is purchased externally. Which alternative is more cost effective?
Buy

By how much?
$

Determining the Optimal Product Mix with One Constrained Resource

Comfy Fit Company manufactures two types of university sweatshirts, the Swoop and the Rufus, with unit contribution margins of $5 and $15, respectively. Regardless of type, each sweatshirt must be fed through a stitching machine to affix the appropriate university logo. The firm leases seven machines that each provides 1,000 hours of machine time per year. Each Swoop sweatshirt requires 6 minutes of machine time, and each Rufus sweatshirt requires 20 minutes of machine time.

Assume that there are no other constraints.

Required:

1. What is the contribution margin per hour of machine time for each type of sweatshirt? When computing your answers, round machine time per unit to two decimal places. Round your final answers to the nearest dollar.

2. What is the optimal mix of sweatshirts? If an amount is zero, enter "0".

3. What is the total contribution margin earned for the optimal mix?
$

Determining the Optimal Product Mix with One Constrained Resource and a Sales Constraint

Comfy Fit Company manufactures two types of university sweatshirts, the Swoop and the Rufus, with unit contribution margins of $5 and $15, respectively. Regardless of type, each sweatshirt must be fed through a stitching machine to affix the appropriate university logo. The firm leases seven machines that each provides 1,000 hours of machine time per year. Each Swoop sweatshirt requires 6 minutes of machine time, and each Rufus sweatshirt requires 20 minutes of machine time.

Assume that a maximum of 40,000 units of each sweatshirt can be sold.

Required:

1. What is the contribution margin per hour of machine time for each type of sweatshirt? When computing your answers, round machine time per unit to two decimal places. Round your final answers to the nearest dollar.

2. What is the optimal mix of sweatshirts? When computing your answers, round machine time per unit to two decimal places. Round your final answers to the nearest whole unit.

3. What is the total contribution margin earned for the optimal mix?
$