Ted doesn't appear to care about anything at work, not even the firm or his employees. He is simply passing the time, making only enough effort to maintain his employment, and counting down the minutes till retirement. Ted is best characterised as an Apathethic.
Lack of feeling, emotion, interest, or concern is referred to as apathy. It is a state of apathy or the repression of feelings like worry, enthusiasm, motivation, or passion. Apathetic people have little interest in, or care for, the emotional, social, spiritual, intellectual, virtual, or real worlds. A person's lack of goal orientation is another way to describe apathy.
Apathetic people may not feel that their lives have any value or significance. People with extreme apathy frequently lead lower-quality lives and are more likely to die young or enter institutions early. Additionally, they might show sluggishness or insensibility. Apathy is defined in positive psychology as the state in which a person feels they lack the degree of ability necessary to face a problem.
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during a sale presentation, michael, the salesperson, notices that his prospect begins to move back and forth. in this scenario, the prospect's body language most likely indicates
During a sales presentation, if a prospect begins to move back and forth, it is likely that their body language is indicating discomfort or uncertainty.
This type of body language can indicate that the prospect is not fully engaged in the conversation, or that they are not interested in what is being presented. It could also indicate that they are bored, or that they are trying to distance themselves from the situation.
In this situation, it is important for the salesperson, Michael, to pay close attention to the prospect's body language and try to understand why they are exhibiting this behavior. He may want to ask the prospect if there is something specific that they are concerned about or if they need more information to make a decision. This will help Michael to address the prospect's concerns and try to move the conversation forward.
In conclusion, by paying attention to the prospect's body language, Michael can gain valuable insights into the prospect's state of mind and adjust his approach accordingly to increase the chances of closing the sale.
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how would you allocate the operating costs to the customer-sustaining activities? prepare and submit an excel worksheet to show your work.
Allocation to customer-sustaining activities based on the relative costs associated with each activity, means allocating a proportion of costs that reflects relative amount of resources used by each activity.
Step 1: Identify the customer service activities. Examples of customer service activities are marketing, customer service, product development and sales.
Step 2: Analyze operational costs associated with each customer retention activity. This includes an overview of the budget allocated to each task, as well as any other associated costs such as labor, materials, and overhead.
Step 3: Determine the level of operational costs to allocate to each retention activity.This can be done by calculating the ratio of costs to total operating costs, or by estimating the amount based on the importance of the activity to the overall success of the business.
Step 4: Allocate operating costs to thr customer service activities. This can be done by allocating a fixed amount to each activity, or by allocating each activity a certain percentage of the total operational cost.
Step 5: Monitor quotas and adjust if necessary. As business needs and goals change, so does the allocation of operational costs to customer service activities.
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based on information from the chapter, describe how changes in the workforce have been impacting organizations including an organization for which you have worked. what role do job descriptions have in helping companies comply with various legal issues? how can job descriptions be used as a management tool?
One study found that employees who had recently undergone a change were more than twice as likely to report feeling chronic stress than those who did not now experience a change or who expected one in the near future.
Additionally, they were four times more likely to exhibit physical signs of stress at work.Employee retention, compensation and benefits, applicant expectations, and hiring are all being impacted by the changing nature of the workforce. Here are three significant changes that both workers and employers in this quickly changing new environment should be aware of. By starting the change and taking the lead, HR may play a dual role in change management. It can also act as a facilitator for changes that other executives and departments started. The HR division carries out a number of tasks related to major change tracking, communication, and implementation. Positive transformation helps an organisation become more effective and productive, which makes it easier to accomplish its objectives and mission. There is an increase in both individual and group morale as well as a general feeling of togetherness and wellbeing.
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the distinction between an increase in output versus an increase in output per person can be made when discussing ______.
The distinction between an increase in output versus an increase in output per person can be made when discussing productivity.
Productivity is a measure of how efficiently an economy, company, or worker is using resources to produce goods and services. It is calculated by dividing the total output of goods and services by the amount of inputs used to produce them, such as labor and capital. Higher productivity means that an economy, company, or worker is producing more output with the same amount of inputs, or the same amount of output with fewer inputs. Improving productivity is important for a variety of reasons. For economies, higher productivity leads to higher economic growth, higher wages, and a higher standard of living. For companies, higher productivity means they can produce more goods and services with the same amount of inputs, allowing them to be more competitive and increase profits.
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Bill youngdahl has been collecting data at the tu student grill. He has found that, between 5:00 p. M. And 7:00 p. M. , students arrive at the grill at a rate of 2020 per hour (poisson distributed) and service time takes an average of 2. 2. 0 minutes (negative exponential distribution). There is only 1 server, who can work on only 1 order at a time
Based on the data given, the system may be analyzed to derive different performance indicators such as the average number of customers in the system, the average time a customer.
spends in the system, and the server usage. The server utilization, which is the proportion of time that the server is occupied serving clients, may be calculated using the Poisson arrival rate of 2020 per hour and the average service time of 2.2 minutes. The utilization may be estimated by multiplying the arrival rate by the average service time and dividing by 60. (to convert minutes to hours). In this example, the use would be: Usage = 2020 * 2.2 / 60 = 110 / 60 = 11/6 = 0.183 This indicates that the server is active 18.3% of the time and inactive 81.7% of the time. The average number of clients in the system and the average duration a customer spends in the system may also be calculated. The arrival rate divided by the difference between the arrival rate and the service rate yields the average number of clients in the system. The service rate is equal to the inverse of the average service time. The service rate in this scenario would be 1 / 2.2 = 0.4545. The system's average client count may therefore be determined as follows Customer average = 2020 / (2020 - 0.4545) = 2020 / 1965.55 = 1.03 This suggests that there are 1.03 clients in the system on average. The average time it takes a client The average number of clients in the system divided by the arrival rate can be used to compute system costs. In this scenario, the average amount of time a consumer spends in the system is In the system, the average time is 1.03 / 2020 = 0.00051 hours = 0.0306 minutes = 1.83 seconds. This indicates that a consumer spends an average of 1.83 seconds in the system.
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which of these should not affect your personal finance decisions?(1 point) responses your character your character your lifestyle goals your lifestyle goals your tolerance for risk your tolerance for risk your language
Answer:
1. the ability to understand how to make sound financial choices so you can confidently manage and grow your money
2. tracking your income and expenses
3. the financial management which an individual or a family unit performs
4. your language
Explanation:
I took it and got a 100. make sure you are actually trying tho. this stuff actually matters for your future.
| Personal Finance |
What is the difference between gross income and net income? Select the best answer.
A) Gross income is the total of annual salary minus federal income tax.
B) All wages and other earnings minus mandatory deductions.
C) Net income is wages, salaries and other earnings minus all tax and deductions.
D) Wages minus voluntary deductions.
A.Gross income is the total of annual salary minus federal income tax.
Gross income for an individual—also known as gross pay when it’s on a paycheck—is an individual’s total earnings before taxes or other deductions. This includes income from all sources, not just employment, and is not limited to income received in cash; it also includes property or services received.
Gross Income Formula:
Gross Income = Salary + Rent + Dividends + Interest + All Other Sources of Income.
Net income (NI), also called net earnings, is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses. It is a useful number for investors to assess how much revenue exceeds the expenses of an organization.
Net Income Formula:
Net Income = Total Revenue — Total Expenses.
Gross income is the total amount you earn (typically over the course of a year) before expenses.Net income is the profit your business earns after expenses and allowable deductions.Gross income and net income can provide a different perspective and affect goals and actions you may take personally or as a business owner.Answer:
Net income is wages, salaries and other earnings minus all tax and deductions
Explanation:
connexus
A measure of how suppliers react to a change in price is called: _________
A measure of how suppliers react to a change in price is called: Elasticity of supply .
Elasticity is a monetary concept used to degree the alternate inside the combination amount demanded of an excellent or provider in terms of rate moves of that desirable or carrier. A product is taken into consideration to be elastic if the amount called for of the product changes greater than proportionally when its fee will increase or decreases.
The capacity of a deformed fabric frame to go back to its unique shape and length when the forces causing the deformation are removed. A frame with this capability is stated to behave (or respond) elastically. In economics, elasticity measures the percentage change of 1 economic variable in reaction to a percent change in another. If the rate elasticity of the call for something is -2, a ten% growth in fee causes the call for quantity to fall through 20%.
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Based on your research, what does the acronym (letters) HOLC stand for? Federal Deposit Insurance Corporation.
The acronym HOLC stands for Home Owners' Loan Corporation.
What is a HOLC?It was a government-sponsored corporation established in 1933 as part of the New Deal response to the Great Depression. The HOLC's mission was to refinance home mortgages that were in default or in danger of default, providing more affordable monthly payments for homeowners and helping to stabilize the housing market. The Federal Deposit Insurance Corporation (FDIC) was established in 1933 as well and was designed to provide insurance for depositors in case their bank failed. The two organizations had different purposes but were part of the same broader effort to address the economic crisis of the Great Depression.
The HOLC was eventually dissolved in the 1950s, but the legacy of redlining continues to affect housing patterns and access to credit for minority communities in the United States.
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The acronym "HOLC" stands for the Home Owners' Loan Corporation. It was a government-sponsored corporation created as part of the New Deal in 1933 to refinance homes and prevent foreclosures during the Great Depression.
What is a HOLC?It was a government-sponsored corporation established in 1933 as part of the New Deal response to the Great Depression. The HOLC's mission was to refinance home mortgages that were in default or in danger of default, providing more affordable monthly payments for homeowners and helping to stabilize the housing market.
The Federal Deposit Insurance Corporation (FDIC) was established in 1933 as well and was designed to provide insurance for depositors in case their bank failed. The two organizations had different purposes but were part of the same broader effort to address the economic crisis of the Great Depression.
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a family spends $59,000 a year for living expenses. if prices increase 3 percent a year for the next four years, what amount will the family need for their annual living expenses after four years?
The annual living expense is the amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a certain place and time period.
The annual living expense is usually used to compare how expensive it is to live in one city versus another. The cost of living is tied to wages. If expenses are higher in a city, such as New York, for instance, salary levels must be upward so that people can afford to live in that city.
The annual living expense can be a important factor in personal wealth accumulation because a salary can provide a higher standard of living in a city where daily expenses such as rent, food and entertainment are less.
Accordingly, a big salary can seem not adequate in an expensive city such as New York.
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which characteristic is not typically found in a business traveler? group of answer choices stay for extended periods at one location spend more money travel in small groups younger
A business traveller is not usually one to stay for long periods of time.
Successful business travellers are able to juggle work and family obligations, and they generally maintain contact with their loved ones when away from home. They make every effort to maintain regular eating, sleeping, and exercise schedules when travelling, as well as making time for relaxation. Business travel is any trip taken expressly for work-related purposes; it does not include daily commutes, vacations, or pleasure travel. The World Trade Organization estimates that about 30% of all international journeys made today are related to business, and business travel is still growing.
(Which characteristic is NOT typically found in a business traveler?
Younger
Travel in small groups
Spend more money
Stay for extended periods of time)
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the data and software tools for organizing, analyzing, and providing access to data to help managers and other enterprise users make more informed decisions are referred to as systems
The data and software tools for organizing, analyzing, and providing access to data to help managers and other enterprise users make more informed decisions are referred to as Business Intelligence systems.
Business Intelligence systems typically include a variety of tools and technologies, such as data warehousing, data mining, reporting, and analytics. These systems allow organizations to collect and store vast amounts of data from multiple sources, analyze it to identify patterns and trends, and present the insights gained in a meaningful and actionable way to decision makers. BI systems can be used to support decision-making across a range of business functions, including finance, marketing, sales, and operations. They can help organizations to gain a competitive advantage by providing real-time insights into customer behavior, market trends, and operational performance. BI systems can also improve operational efficiency by identifying areas for process improvement, and by providing the data needed to monitor and track performance.
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jane believes new equipment will make her staff more efficient. the board has asked for an analysis of the cost of the equipment to be compared with the benefit to the facility. this mathematical process is known as a
The mathematical process that Jane is being asked to conduct is known as a cost-benefit analysis. A cost-benefit analysis is a systematic approach to evaluating the potential costs and benefits of a proposed investment or project.
In the case of Jane's new equipment, she is being asked to compare the cost of the equipment with the expected benefit to the facility. This process involves estimating the total cost of the equipment, including the purchase price, installation costs, and any ongoing maintenance costs.
It also involves estimating the benefits of the equipment, such as increased efficiency, improved productivity, and reduced labor costs. Once these estimates have been made, the cost-benefit analysis involves comparing the costs and benefits to determine whether the investment is financially viable.
If the benefits are estimated to be greater than the costs, the investment is likely to be considered a good decision. If the costs are estimated to be greater than the benefits, the investment may not be considered a good decision.
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in grimshaw v. ford motor company, if ford if ford had made the repairs to the cars, diminishing profit but enhancing customer safety, which theory of corporate social responsibility would ford have been exhibiting?
The big picture,or good corporate citizenship if Ford if Ford had made the repairs to the cars, decreasing profits but improving customer safety.
Virtue ethics is a broad term for theories that emphasize the role of character and virtue in moral philosophy rather than doing duty or acting to achieve good consequences.The directors and officers of a charitable corporation operate the business with the same authority and demeanor. as in a traditional corporation,but they are required to consider the impact of their decisions not only on shareholders but also on employees, customers,the community,and the local and global environment. When a Manager faces an ethical decision that could place him or her in the media and news,that test is called. front page test.Social responsibility reaches its highest point when using the moderate view,or government hand theory, of corporate social responsibility.
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the productivity ratio of the supplier is 4. the productivity ratio of the manufacturer is 7/4. for every $3 of input, what is the final output value of this interconnected process from supplier to manufacturer? (enter your response rounded to whole number.)
This connected process from supplier to manufacturer has a $21 final product value.
The supplier's productivity ratio is 4, therefore
Manufacturer productivity ratio is 7/4.
For each input of $3, the final product value formula is:
= 7/4 × 4 × 3
= 7/4 × 12
= 21.
Productivity ratios, where input is time worked and output is work units, effectively measure output/input.
For the majority of task kinds, the ratio can be used to calculate productivity as long as a reliable work unit can be located. Calculating labor productivity for a factory worker is easy.
A good productivity rate is between 70 and 75 percent. This indicates that employees work for at least 70% of the day and only take breaks for no more than 25% of the time.
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a stock has a beta of 1.1. the market risk premium is 6% and the risk-free rate is 3%. what is the required return for the stock according to the capm?
The Capital Asset Pricing Model (CAPM) provides a framework for estimating the required return for a stock based on its systematic risk.
The formula for the required return using the CAPM is:
Required Return = Risk-Free Rate + Beta * (Market Risk Premium)
Plugging in the values provided in the question, we get:
Required Return = 3% + 1.1 * (6%)
Required Return = 3% + 6.6%
Required Return = 9.6%
So, the required return for the stock according to the CAPM is 9.6%. This means that an investor would expect to receive a 9.6% return on their investment in this stock to compensate for the risk they are taking. The higher the beta, the higher the expected return, as higher beta stocks are considered to be more risky. In this case, the stock has a beta of 1.1, which is slightly higher than the market average, so the required return is also slightly higher.
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pell, cpa, is the group auditor in the audit of the financial statements of tech consolidated, inc. smith, cpa, audits one of tech's subsidiaries. in which situation(s) should pell make reference to smith's audit?
Pell should exercise professional skepticism and perform sufficient audit to support the reached in the consolidated financial statements audit.
When Smith's audit provides significant audit evidence that is relevant to the consolidated financial statements. In this case, Pell should consider the nature of the subsidiary's operations and the significance of the subsidiary's financial information to the consolidated financial statements.When there are significant intercompany transactions between the subsidiary and the other entities in the consolidated group. In this case, Pell should consider the audit work performed by Smith and the results of Smith's audit in assessing the intercompany transactions and balances.When the subsidiary is material to the consolidated financial statements. In this case, Pell should consider the results of Smith's audit and the level of reliance that can be placed on Smith's audit in the audit of the consolidated financial statements.
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many businesspeople believe that marketing should focus on factors other than financial goals, such as blank . multiple choice question. corporate citizenry return on investment market share total sales
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
What is the meaning of Marketing?The word "marketing" comes from the Latin word "Mercatus," which means "marketplace" or "merchant."
Giving customers post-purchase assistance is part of marketing management's remit in order to keep their business, foster brand loyalty, and improve the company's reputation. In order to determine consumer happiness, also entails getting client feedback.
Getting consumers interested in a company's goods or services is marketing's primary goal. This is accomplished through market analysis, research, as well as consideration of the interests of a company's ideal clients and drawing them in with a message that would be instructive and beneficial to the target market.
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during the taking of a physical inventory on december 31, 2012, inventory was counted as $100,870 instead of the correct amount of $100,780. the effect of the error on the december 31, 2012 balance sheet and income statement will be
Answer:
Explanation:
Assets, retained earnings, and net income all understated by $90
since the ending inventory was understated by $100,780 - $100,870 = $90, it means that cost of goods sold was understated by that same amount. Since COGS were less, that resulted in higher operating income and net income.
Merchandise inventory will be understated by $90 (current asset), while retained earnings will also be understated by $90 since net income decreased retained earnings.
Retained earnings are the sum total net earnings or profits of a company after accounting for dividend payments.
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according to dupont analysis, roe can be calculated as the product of what three financial ratios? please select all the correct answers.
DuPont analysis is a method of breaking down return on equity (ROE) into three financial ratios:
Net Profit Margin: This ratio measures a company's profitability by calculating the amount of net income as a percentage of total revenue. It is calculated by dividing the net income by the revenue. A high net profit margin indicates that the company is generating a lot of income relative to its sales, and is generally considered a positive sign for investors.
Asset Turnover: This ratio measures how efficiently a company is using its assets to generate revenue. It is calculated by dividing the revenue by the total assets. A high asset turnover indicates that a company is using its assets effectively to generate sales, while a low asset turnover may suggest that the company is not using its assets to their fullest potential.
Financial Leverage: This ratio measures the extent to which a company is using debt financing. It is calculated by dividing the total assets by the equity. A high level of financial leverage indicates that a company is relying heavily on debt financing, while a low level of leverage suggests that the company is using more equity financing.
The ROE can be calculated by multiplying these three ratios together, as follows: ROE = (Net Profit Margin) * (Asset Turnover) * (Financial Leverage)
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to place an object using absolute positioning within its container, the container: a. must also have absolute positioning b. must have absolute or relative positioning c. must have statistic positioning d. must not have any position property value
To place an object using absolute positioning within its container, the container must also have absolute positioning.
The correct option is A.
An element's position within the document is controlled by the position property. It needs to know which parent div it will place itself relative to in order to be able to move.
The position property's value is the CSS absolute. Absolute positioning is more concerned about the element's container location than its own.
A positioning element close by is placed relative to an element with the style position: absolute. In the absence of any elements, an absolute organised element will use the document body area and scroll with the page.
Typically, items are arranged in the top, bottom, left, and right directions using the position attribute.
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which of the following is a weakness? question 18 options: an area of your business that you perform well in inexperienced workers you perform better than your competitors none of these
An area of your business that you perform well in is not a weakness.
A weakness is defined as an area of your business in which you are performing poorly or not as effectively as you could be. In contrast, an area of your business that you perform well in is considered a strength. Inexperienced workers can also be considered a weakness, as they may not have the skills and knowledge needed to perform their tasks effectively. Knowing your strengths and weaknesses is important for business success, as it allows you to focus on improving areas that need work while also leveraging your strengths to achieve your goals.
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your buyer purchases a property for $120,000. it has an assessed value of $130,000. the annual rate for property taxes is $2.10 per $100 of the property's tax value paid on a semi-annual basis. on the next tax bill, what amount is due?
The total amount due on the next tax bill would be $1,365.
First, we need to calculate the assessed value of the property for a tax purposes. Since the assessed value is given as $130,000, we can assume that the tax value is also the same.
The tax rate is $2.10 per $100 of tax value, so the tax rate for the property would be:
$2.10/$100 x $130,000 = $2,730
This is the total tax due for the year. Since the tax is paid semi-annually, the amount due on the next tax bill would be half of this:
$2,730 / 2 = $1,365
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lobbying involves which type of force in the marketing environment? please choose the best answer. a. legal and regulatory b. sociocultural c. competitive d. political e. economic
The correct answer is "d. political". Lobbying refers to the act of attempting to influence decisions made by the government, especially by individuals or interest groups.
This is achieved by communicating with elected officials, bureaucrats, or other people who make decisions within the government. Lobbying is an important aspect of the political force in the marketing environment, as government policies and regulations can greatly affect businesses and industries. For example, a company may lobby for favorable tax laws or regulations that would benefit its operations. An industry association may lobby for regulations that benefit the industry as a whole. Lobbying can also involve efforts to shape public opinion, as well as efforts to influence the media to present a particular viewpoint. Overall, lobbying is a key way for businesses and organizations to have their voices heard in the political arena and to shape the policies and regulations that affect them. In this way, lobbying helps ensure that the interests of businesses and organizations are taken into account in the development of government policies and regulations.
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Why is it important to include industrial terminology in a resume? How can you find industrial terminology?
Industry terminology will show you are "current" with the profession and know what the trends are at this time.
A terminology list or glossary is a listing of phrases and terms with their expected translation. they are beneficial for making sure that your translations are consistent throughout your undertaking.
Such as industry terminology will show you're "contemporary" with the career and understand what the tendencies are at this time. To determine industry terminology, carry out an internet seek of the job title or career and spot what terms arise frequently. if you are uncertain of a few terms, appearance them up.
Terminology allows us to fully recognize precise subjects. properly-defined terminology can assist human beings across numerous industries to communicate greater efficaciously. true terminology work reduces ambiguity and increases readability, which makes it an important aspect of pleasantness.
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which of the following is an example of a normative statement? group of answer choices the national minimum wage should be eliminated. china is the most populous country in the world. in 2020, the inflation rate in the united states was 1.6%. the beatles are one of the best-selling musical artists of all time.
First option is correct. an example of a normative statement is the national minimum wage should be eliminated.
Economic assertions that are normative in nature cannot be verified or examined for valid cause and effect or factual values. The following are a few examples of normative statements: "Working citizens should not pay for hospital care," "Laborers should earn greater percentages of capitalism profits," and "Women should be offered higher school loans than Men." Economic normative assertions frequently use words like "should" and "ought."
The statement "We should cut taxes in half to improve disposable income levels" is an illustration of normative economics. The statement "Based on prior statistics, significant tax cuts would aid many people, but government budget limits make that choice impracticable" would be considered a positive or objective economic judgement. Because it reflects value judgements, the example given is a normative economic statement. For example, a statement that a government should aim for x% economic growth or y% inflation can be considered normative.
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in terms of services marketing, why is it important for customers to see mike boyle working out and supervising trainers at his gym facilities every day?
It is important for clients to see Mike Boyle training in his gym every day and coaching trainers. He wants to make sure his coaches are well-equipped with formations and tools to meet any client's needs.
Everyone wants to be strong, fit and healthy. But not everyone is in Mike Boyle's Strength and Conditioning (MBSC) target market. With two locations in Massachusetts, MBSC offers a variety of services to help athletes of all skill levels build strength, increase endurance and improve performance.
Co-founder Mike Boyle developed his approach to athletic training as a result of his work as a coach for various sports teams and at Boston University. He has also coached Olympians, professional athletes and celebrities.
Over the years, Boyle noticed how many people went to the gym with good intentions, but then he lost motivation and rarely used the facility. When Boyle opened his first gym, he took another marketing route. He wants to serve clients who expect active training, clients who set personal goals and come to the gym for regular individual or group training.
Boyle says his company not only provides equipment and spaces for exercise, but also social support and professional guidance that encourages clients to make weekly progress toward their fitness and performance goals.
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an independent producer noticed some red flags in the whole life insurance policy application she has to
An independent producer noticed some red flags in the whole life insurance policy application she has to report the suspicion to a manager or designated compliance.
What are the red flags in insurance?Insurance fraud examiners should be on the lookout for warning signs of insurance fraud, such as claimants who are highly knowledgeable about the insurance sector, who refuse to reveal personal information, who are unemployed, or who have a long history of filing insurance claims. Their justifications could range from major medical conditions (such as heart disease) or subpar findings from your life insurance medical exam to non-medical factors like bankruptcy, a criminal record, a positive drug test, or even a risky hobby.
However, if you smoke, have poor health, a dangerous job, participate in risky hobbies like skydiving, or have underlying medical concerns, life insurance companies may generally view you as a high-risk candidate.
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what happened at the start of the lowell factory system? workers continued working in the mills until retirement. the workday ended when production quotas were met. part of the production system involved craftsmen. workers were paid well and lived in supervised dormitories.
The Lowell Factory System, which got its start in Lowell, Massachusetts, in the early 19th century, signaled the beginnings of the American industrial revolution.
The technique entailed the utilization of sizable, water- or steam-powered manufacturing facilities as well as the hiring of numerous workers—mostly young women—who put in long hours in the mills.
Due to the physically difficult nature of the job at the beginning of the Lowell Factory System, employees were only permitted to work in the mills for a short period of time, usually a few years.
The workday did not finish when output requirements were met; rather, employees were required to put in lengthy shifts, frequently lasting 12 hours per day, six days per week.
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how much is the gdp using the expenditure approach? how is this process for calculating gdp different than the value-added approach?
A country's gross domestic product (GDP) is the sum of the unduplicated values of all the commodities and services produced within its economic territory during a specific time period.
In expenditure approach, the GDP is calculated as the total of all consumer spending on final products and services, capital equipment investments, government expenditures, government spending on inventories, plus exports less imports. The foundation of the spending model is, in essence, the flow of income that businesses receive from the goods market. This is how we calculate the total market price of all products and services that were produced in the economy over a specific time period. GDP=C+I+G+(X−M) where C= consumption, I = investments, G = National goods and services purchased by the government, X = Goods exported, M = Goods imported.
The value added approach entails estimating the output of an industry or sector and deducting its commodities and services utilized to make the output in order to determine its value added. The total gross value added for all sectors or industries in a certain province or territory makes up the economic territory's total GDP. Taxes less product subsidies are applied to the value added for all sectors to produce the GDP at market prices.
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