1. Distributive justice deals with the fair distribution of resources, benefits, and burdens within a society.
What is Distributive justiceIt concerns the allocation of goods, opportunities, and rewards in a way that is considered just and equitable, taking into account factors such as merit, need, and contribution.
2. Commutative justice, also known as corrective justice, deals with the fairness and equity in individual transactions and interactions between individuals. It focuses on ensuring that contracts, exchanges, and agreements are carried out fairly and that individuals receive what is due to them in terms of goods, services, or compensation.
3. Human law, in and of itself, does not make one inherently good. According to Aquinas, human law is derived from and should be in accordance with natural law and divine law. While human law can provide guidelines and regulations for a just and orderly society, true goodness is achieved through conformity with the moral principles of natural and divine law.
4. Aquinas defines justice as "a habit whereby a man renders to each one his due by a constant and perpetual will." In other words, justice is a virtue that involves consistently and willingly giving to others what they are owed or deserve, based on the principles of fairness and equity.
5. Justice, according to Aquinas, resides in the will of the subject. It is an act of the will that aligns with the moral principles of giving to each what is due. It involves a conscious choice and intention to act justly and fairly towards others.
6. According to Aquinas, there is a hierarchical relationship between Eternal Law, Natural Law, and Human Law. Eternal Law, which emanates from God, is the divine and unchanging principle that governs the universe. Natural Law is a reflection of Eternal Law in human nature, guiding human conduct based on reason and the pursuit of the common good. Human Law is derived from and should be in harmony with Natural Law, serving as specific legal regulations established by human authorities for the governance of societies.
7. Aquinas sees law as a rational directive of reason, derived from Natural Law and aimed at promoting the common good. For a law to be just, it must be in accordance with reason, promote the common good, and be established by competent authority. Every law should be ordered towards the welfare of the community and the cultivation of virtue. Competent authority, such as a legislator or ruler, is responsible for making just laws in accordance with the principles of Natural Law.
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If price elasticity of demand = |-1.5| and price decreases by 10 percent, then:________-
If the price elasticity of demand is |-1.5| and the price decreases by 10%, then the quantity demanded will increase by 15%.
The price elasticity of demand measures the responsiveness of the quantity demanded of a product to a change in its price. The value of price elasticity can either be elastic, inelastic, or unit elastic. If it is greater than 1, the demand is said to be elastic. If it is less than 1, the demand is inelastic, and if it is equal to 1, the demand is unit elastic. Now, the absolute value of price elasticity is |-1.5|, which is greater than 1, indicating that the demand is elastic.
Hence, if the price decreases by 10%, the quantity demanded will increase by more than 10%.We can calculate the percentage change in quantity demanded by using the following formula: % change in quantity demanded = % change in price × price elasticity of demand Here, % change in price = -10% (as the price has decreased)Price elasticity of demand = |-1.5| = 1.5 Therefore, % change in quantity demanded = -10% × 1.5= -15%Hence, if the price elasticity of demand is |-1.5| and the price decreases by 10%, then the quantity demanded will increase by 15%.
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You are logge buyer makes an offer to purchase a home. Rather than writing a check for earnest money, the buyer tells the broker that a diamond ring is worth $1,000 and that the broker may use the ring as a sign of intention to purchase. What should the broker do? OA Inform the buyer that only a certified check is acceptable for earnest money. OB. Accept the ring as earnest money provided $1,000 is available in the trust account to protect the seller and guarantee a cash payment. OC. Accept the ring as earnest money provided the seller is notified that the earnest money is in the form of a diamond ring. OD. Have the ring appraised to be sure that it is worth at least $1,000 before accepting it as earnest money.
Option B is correct i.e Accept the ring as earnest money provided $1,000 is available in the trust account to protect the seller and guarantee a cash payment.
When a buyer makes an offer to purchase a home and provides an earnest money deposit, it demonstrates the buyer's commitment to the purchase. The earnest money deposit may be made in cash or by personal check, cashier's check, or money order.The buyer may provide an item of personal property that has a particular value that is acceptable to the seller, such as a diamond ring or a piece of art worth $1,000. However, there is a risk that the seller will be unable to sell the item and may need to return it to the buyer at a later time.In the case of a diamond ring, the broker should accept the ring as earnest money provided $1,000 is available in the trust account to protect the seller and guarantee a cash payment. The broker should keep the ring in a safe place until the transaction is completed, and the funds can be released to the seller.According to the general rule, earnest money deposits must be deposited into a trust account, and the buyer and seller must agree on the disbursement of the funds. Therefore, accepting a diamond ring in lieu of cash does not conform to the standard procedures for handling earnest money.
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1. Which of the following production functions do not exhibit constant returns to scale? A. F(K, L) AK L¹-a B. F(K, L) AK + BL C. F(K,L)=L D. F(K,L) = K(1-e-(L/K)) E. None of the above
The production functions that don't exhibit constant returns to scale are F(K, L) AK + BL and F(K,L) = K(1-e-(L/K)). Option E. None of the above.
In order to show that a production function displays constant returns to scale (CRS), one must show that the following equation holds for all values of z > 0 and for any feasible inputs K and L: F(K, L) = F(zK, zL)Here, F(K, L) represents the production function.
F(K, L) AK L¹-a is a Cobb-Douglas production function. This function displays constant returns to scale.F(K, L) AK + BL is the function that can be expressed as:
F(K, L) = AK + BL
Here, A and B are constant parameters. This function does not display constant returns to scale. For instance, suppose z = 2, K = 1, and L = 1. Therefore, F(1,1) = A(1) + B(1) = A + B. Similarly, F(2,2) = A(2) + B(2) = 2A + 2B. Since 2F(1,1) = 2A + 2B ≠ F(2,2) = 2A + 2B, the production function does not display constant returns to scale.
F(K,L)=L is a linear production function. This function exhibits constant returns to scale.
F(K,L) = K(1-e-(L/K)) is a non-linear function that exhibits constant returns to scale. When z > 0, the following can be shown:
F(zK, zL) = zK(1-e-(zL/zK)) = zK(1-e-L/K) = zF(K, L).
Therefore, the answer to the question is E. None of the above, as only two of the functions don't display constant returns to scale.
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true or false: because mercosur has helped improve the economies of its member states, other latin american countries are forming similar economic cooperation groups.
TRUE, "because mercosur has helped ameliorate the husbandry of its member countries, other Latin American countries are forming analogous profitable cooperation groups"
Mercosur is a South American profitable and political cooperation of five countries, videlicet Argentina, Brazil, Uruguay, Paraguay, and Venezuela. The ideal of Mercosur is to promote free trade and cooperation among its members and other countries. It was created in 1991, and since also, it has helped ameliorate the husbandry of its member countries. As a result, other Latin American countries are forming analogous profitable cooperationgroups.The association has played a pivotal part in boosting the husbandry of the member countries by promoting free trade, cooperation, and integration. Through Mercosur, member countries have increased their exports and significances among each other, thereby expanding their requests and perfecting their profitable growth. The success of Mercosur has motivated other Latin American countries similar as Chile, Mexico, and Peru to form analogous profitable cooperation groups to ameliorate their husbandry.
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Maria Anguiano's current salary is $65,000 a year and she is planning to retire after working 25 years. He expects his annual salary to increase by 3% each year. (This is in the first year you will earn $65,000, in the second year $67,000, in the third year $69,000, and so on.) You plan to deposit 5% of your annual salary into a retirement fund that earns 5% monthly compound annual interest. What will be the amount accumulated when you retire?
Maria Anguiano's current salary is $65,000 a year and she is planning to retire after working 25 years. He expects his annual salary to increase by 3% each year.
(This is in the first year you will earn $65,000, in the second year $67,000, in the third year $69,000, and so on.) You plan to deposit 5% of your annual salary into a retirement fund that earns 5% monthly compound annual interest. When Maria Anguiano retires, she will have worked for 25 years. We can calculate her salary in the last year of working by multiplying the initial salary by (1 + r/100) raised to the power of (n - 1). Here, r is the annual salary increase rate (3%) and n is the number of years worked (25 years).Thus, Maria's salary in the last year of working is:$65,000 x (1 + 3/100)24= $139,186.27 (rounded to two decimal places)Now we need to calculate the total amount deposited in the retirement account. She saves 5% of her annual salary every year. Thus, her savings in the last year of working will be:$139,186.27 x 5/100 = $6,959.31 (rounded to two decimal places)To calculate the total amount accumulated when she retires, we can use the compound interest formula.
We know that the principal (P) is the total amount saved over the years ($6,959.31 x 25 years = $173,982.75). The interest rate (r) is 5%, which is the annual interest rate. The number of years (t) is also 25, as she will retire after 25 years. The number of times the interest is compounded per year (n) is 12, as the interest is compounded monthly.Thus, we can calculate the total amount accumulated using the formula:A = P(1 + r/n)^(nt)A = $173,982.75(1 + 0.05/12)^(12x25)A = $546,317.61Therefore, the total amount accumulated when Maria retires is $546,317.61. This is the long answer to the given problem.
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Assume that a firm has positions in the equity market and the commodity market with a bid-offer spread of 1.0 and 3.0, respectively. The standard deviation of the spread in the equity and commodity market is 5.0. The mid-price of the share and the commodity is $80 and $40, respectively. The firm holds 10 million shares and 40 million ounces of the commodity. Calculate the cost of liquidation in a stressed market at the 99% confidence level. Help: Cost (stressed market)=∑_(i=1)^n▒〖1/2 (μ_i+λ_i σ_i ) α_i 〗.
The cost of liquidation in a stressed market at the 99% confidence level would be approximately $46,575,000.
To calculate the cost of liquidation in a stressed market at the 99% confidence level, we need to use the formula:
Cost (stressed market) = ∑ [1/2 (μ_i + λ_i σ_i) α_i]
Where:
μ_i is the mid-price of the asset (equity or commodity)
λ_i is the bid-offer spread
σ_i is the standard deviation of the spread
α_i is the Z-score corresponding to the confidence level (99% in this case)
Here, the following information:
For the equity market: μ_i = $80, λ_i = 1.0, σ_i = 5.0
For the commodity market: μ_i = $40, λ_i = 3.0, σ_i = 5.0
Confidence level: 99% (α_i = 2.33)
Now, let's calculate the cost of liquidation for each market:
For the equity market:
Cost_equity = 1/2 (80 + 1.0 * 5.0) * 10,000,000 * 2.33
For the commodity market:
Cost_commodity = 1/2 (40 + 3.0 * 5.0) * 40,000,000 * 2.33
Finally, let's calculate the total cost of liquidation:
Total_cost = Cost_equity + Cost_commodity
Simply plug in the values and perform the calculations:
Cost_equity = 1/2 (80 + 1.0 * 5.0) * 10,000,000 * 2.33 = $9,315,000
Cost_commodity = 1/2 (40 + 3.0 * 5.0) * 40,000,000 * 2.33 = $37,260,000
Total_cost = $9,315,000 + $37,260,000 = $46,575,000
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Which of the following most accurately indicates the implications of an economy's production possibilities curve?
a. Over time, it is generally impossible for a country to expand its production of goods.
b. An economy will automatically move toward a point that lies outside of the production possibilities curve unless proper government policy constrains production.
You Answered
c. If all the resources of an economy are being used efficiently, it is generally possible to produce more of one good without having to sacrifice the production of other goods.
d. If all the resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced.
The option that most accurately indicates the implications of an economy's production possibilities curve is c. If all the resources of an economy are being used efficiently, it is generally possible to produce more of one good without having to sacrifice the production of other goods.
The production possibility frontier (PPF) illustrates an economy's ability to produce two different products with limited resources. It demonstrates the various combinations of two goods that a country can generate with the given amount of resources. Each point on the production possibility frontier represents the maximum potential output of two products that an economy can produce given its current resources and technologies. The PPF assumes that a country's resources are fully utilized or efficiently used, but it does not specify the exact combinations of products that are produced. By concentrating on one product, an economy can increase production without losing any of the other products, according to the principle of comparative advantage. Hence, if all of an economy's resources are used effectively, it can produce more of one item without sacrificing the production of others. The answer is option c.
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Is there such a thing as too much creativity? Why or why not?
How can you ensure as a leader that you balance the amount of
creativity within a project or organization?
Yes, there can be too much creativity in a project or organization. Creativity can be a fantastic tool in any project or organization. It can help inspire new ideas, approaches, and solutions to problems. However, too much creativity can be a problem.
This is because too many ideas can lead to confusion and fragmentation, making it difficult to focus on a specific goal. Furthermore, creative ideas that are too far outside of the organization's mission and objectives may not be useful to the organization's goals.As a leader, you can balance the amount of creativity within a project or organization by setting clear expectations and boundaries. One way to do this is to define the goals of the project or organization and create a framework for achieving those goals. You can also encourage creativity within specific parameters, such as within a specific budget or time frame. This can help ensure that creative ideas are practical and useful. Additionally, you can foster a culture of creativity by encouraging collaboration and brainstorming sessions. You can also celebrate creative successes and share them with others to inspire more creativity. Finally, it is important to remember that balance is key. You don't want too little creativity, but you also don't want too much. Therefore, it is important to continually monitor the level of creativity and adjust as needed to ensure that it is helping rather than hindering progress.
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Aquaria Limited purchased a five-year serial bond on 1 January 2012 at a cost of GH45m with annual nominal interest of 5%, which is also the effective rate, payable annually on 31 December. At the reporting date of 31 December 2012 interest has been received as expected and the market rate of interest is now 6%.
Required: Account for the financial asset on the basis that it is classified: i) as Fair Value Through Profit or Loss (FVTPL); and that ii) to be measured at amortised cost, on the assumption that it passes the necessary tests and has been properly designated at initial recognition.
Fair Value Through Profit or Loss (FVTPL) is a classification of financial assets that are held to be traded, or that are expected to be sold within a short period of time. These assets are measured at their fair value, with any changes in fair value recognized in profit or loss.
i) Fair Value Through Profit or Loss (FVTPL)Accounting Treatment:Initial recognition: The bond will be recognized on the balance sheet at its cost. On 31 December 2012, the bond's fair value will be calculated, and the difference between the fair value and the initial cost will be recognized in profit or loss. On the statement of profit or loss, the interest revenue received will be recorded. The following journal entries will be recorded:DR Financial asset (bond) 45m CR Cash 45mInterest Revenue (5% * 45m) = 2.25m DR Cash 2.25m CR Interest revenue 2.25mDR Financial asset (bond) 1.45m CR Profit or loss 1.45m(ii) Amortized CostAccounting Treatment:Initial recognition:
The bond will be recognized on the balance sheet at its cost. On 31 December 2012, interest revenue received will be recorded in the statement of profit or loss, and the bond's carrying amount will be adjusted to reflect the amortization of the discount or premium. If the bond is properly designated at initial recognition, the difference between the interest expense and the interest revenue will be recognized in other comprehensive income (OCI). The following journal entries will be recorded:DR Financial asset (bond) 45m CR Cash 45mInterest revenue (5% * 45m) = 2.25m DR Cash 2.25m CR Interest revenue 2.25mInterest expense (6% * 45m) = 2.7m DR Interest expense 2.7m CR Cash 2.7m
Amortization of discount or premium = (2.7m – 2.25m) = 0.45m DR Financial asset (bond) 0.45m CR OCI 0.45m (if properly designated) . To be measured at amortized cost, on the assumption that it passes the necessary tests and has been properly designated at initial recognition, is the second method of classifying financial assets. These financial assets are reported on the balance sheet at their amortized cost, net of any impairment losses incurred.
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Government choose to finance by tax revenue. Discuss
about the redistribution of debt burden from the present generation
to future generations of taxpayers.
Tax revenue is the money that a government acquires from the payment of taxes by the people. The government financing method for public expenditure is based on tax revenue. This is mainly because government spending increases in countries over time, necessitating the government to find ways to fund the projects.
Taxes, on the other hand, are a compulsory payment from citizens that generates income for the government. Taxes have been linked to the redistribution of the debt burden from the present generation to the future generation of taxpayers. The government aims to redistribute the debt burden to future taxpayers by imposing taxes on citizens.
A taxpayer's portion of the national debt is determined by the size of their tax bill. When a government raises funds via taxes, it is creating a debt burden for future generations of taxpayers to bear. This is because if the government fails to finance the debt from the revenue generated, future generations will have to bear the cost of the loan. The government may, therefore, pass the cost to future taxpayers by raising taxes. The present generation benefits from public expenditures, while the future generation pays for the debt created by the expenditure. Future taxpayers would, therefore, bear the burden of financing the government's expenditures, which were financed by tax revenue.
In conclusion, governments choose to finance public expenditure through tax revenue. Taxes are a means of redistributing the debt burden from the current generation to future generations of taxpayers. The present generation benefits from public expenditures funded by tax revenue while future generations bear the cost of financing the debt created by government expenditure. The government, therefore, has a moral obligation to ensure that it does not create unsustainable debt. Furthermore, it is critical to invest the tax revenue generated in projects that would benefit both current and future generations of taxpayers.
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International Marketing is concerned with marketing across national boundaries.
A) Define and explain three main reasons for companies to look for international markets. B) Define ‘standardisation’ and ‘adaptation’ and explain why companies sometimes adapt their products to different markets.
International marketing involves marketing activities that extend beyond national boundaries. This response addresses three main reasons why companies seek international markets and defines the concepts of standardization and adaptation. It also explains why companies sometimes adapt their products to different markets.
Companies look for international markets for several reasons. Firstly, expanding into international markets provides opportunities for growth and increased sales. Companies may seek new markets to tap into unmet consumer needs or capitalize on emerging market trends. Secondly, international markets offer diversification and risk reduction. By entering multiple markets, companies can mitigate the risks associated with relying solely on one market. This strategy helps companies withstand economic fluctuations, changes in consumer preferences, or political instability in a single market. Thirdly, international markets provide access to resources and cost advantages. Companies may seek international markets to access raw materials, skilled labor, or manufacturing capabilities at a lower cost. Additionally, favorable regulatory environments, tax incentives, or government support in certain markets can offer competitive advantages.
Standardization in international marketing refers to the approach of offering the same product or service across different markets without significant modifications. This strategy assumes that consumer preferences and needs are similar across markets, enabling companies to achieve economies of scale and cost efficiencies. However, companies often adapt their products for different markets to meet local preferences, cultural norms, or regulatory requirements. Adaptation involves making changes to product features, packaging, pricing, or marketing strategies to better align with the target market's specific needs and preferences. Companies adapt their products to cater to local tastes, cultural differences, or legal requirements, ultimately aiming to improve customer satisfaction, increase market acceptance, and better compete with local competitors.
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QUESTION 9 What is the term for the probability that a value falling inside the control limits is not due to normal variation? OA. Type I error OB. Normalization anomaly OC. Beta risk OD.Standard deviation irregularity OE. Type II error
The term for the probability that a value falling inside the control limits is not due to normal variation is option E: Type II error.
In statistical hypothesis testing, Type II error refers to the situation where the null hypothesis is not rejected, despite it being false. In the context of control limits, the control limits define the range within which values are considered to be due to normal variation. However, there is always a possibility that a value falling inside the control limits is actually not part of the normal variation, but rather a result of some other factor or variation.
Type II error is related to the concept of statistical power, which is the probability of correctly rejecting a false null hypothesis. In the case of control limits, a Type II error occurs when a value is mistakenly considered to be within normal variation and not flagged as an indication of a process issue or problem.
Therefore, the probability that a value falling inside the control limits is not due to normal variation is associated with Type II error, as it represents the chance of failing to detect an abnormality or deviation from normal variation.
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If you were the CEO of a medium-sized corporation, how would you
measure "success" for the organization? Be specific in explaining
at least 4 major parameters you would use and why.
As the CEO of a medium-sized corporation, the measurement of success can be complex, but there are four parameters that can be considered to track success.
These include financial metrics, customer satisfaction, employee engagement, and community impact.
1. Financial metrics: This parameter helps in measuring the success of a company by analyzing financial results. This includes revenue growth, profitability, and cost management. It also includes the debt-to-equity ratio and operating cash flow. In a medium-sized corporation, measuring financial metrics is essential to remain sustainable in the market.
2. Customer satisfaction: Customer satisfaction can be measured by analyzing customer feedback, online reviews, surveys, and net promoter score. By measuring customer satisfaction, a company can ensure that their customers are happy with their products/services.
3. Employee engagement: Employee engagement is a crucial parameter for success as it directly affects productivity, innovation, and customer experience. This can be measured by analyzing employee retention, feedback, and productivity.
4. Community impact: Measuring community impact is essential for any medium-sized corporation. It is measured by analyzing the company’s contributions to society, the environment, and the economy. This parameter helps to increase brand awareness and customer loyalty.
Conclusively, as a CEO of a medium-sized corporation, keeping track of these four parameters can help to measure the success of the company.
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The cross price elasticity of good A and B is positive, therefore, the goods are: a Substitutes b Complements c Normal goods d Inferior goods e Elastic good
The goods A and B are substitutes (alternative options) because their positive cross-price elasticity indicates that an increase in the price of one leads to an increase in demand for the other.
When the cross-price elasticity of two goods is positive, it means that they are substitutes. Substitutes are goods that can be used as alternative options to fulfil a similar need or purpose. In this case, if the price of good A increases, the positive cross-price elasticity indicates that the demand for good B will also increase. For example, if the price of coffee (good A) goes up, some consumers may switch to tea (good B) as a substitute.
Substitutes are often seen in markets where there are multiple products that serve similar purposes, and consumers can easily switch between them based on price changes or personal preferences.
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A company is to spend $50,000 on a machine that will have an economic life of ten years, and no residual value. Depreciation is to be charged using the straight‐line method. Estimated operating cash flows are: Year 1 $ 1 -2000 2 13000 3 20000 4-6 25000 each year 7-10 30000 each year What is the average accounting of return (ARR), calculated as average annual profits divided by the average investment?
The average accounting of return (ARR) is 86%.
ARR (average accounting of return) is the average annual profit earned as a percentage of the average investment made. It is given by,
ARR = (Average annual profit / Average investment) x 100%
The average investment can be calculated as,
Average investment = (Initial investment + Scrap value) / 2As there is no scrap value, the average investment is,
Average investment = (Initial investment) / 2 = $ 25,000
Average annual profit is the sum of operational cash flows in all the years, divided by the economic life of the machine. Hence,
Average annual profit = (Sum of operational cash flows) / (Economic life) = ( -2,000 + 13,000 + 20,000 + 25,000 × 3 + 30,000 × 4) / 10= $ 21,500
ARR is,
ARR = (Average annual profit / Average investment) x 100%= (21500 / 25000) x 100% = 86%
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Dodd-Frank addressed many of the issues that led to the financial crisis. Which of the following was NOT addressed by Dodd-Frank regulations?
resolution authority over the large financial institutions
privately owned, government-sponsored enterprises (GSEs) such as Fannie mae and Freddie Mac
stricter consumer protection laws
higher requirements on firms dealing in derivatives
Dodd-Frank addressed many of the issues that led to the financial crisis. The following that was not addressed by Dodd-Frank regulations is privately owned, government-sponsored enterprises (GSEs) such as Fannie mae and Freddie Mac. The correct option is b.
The Dodd-Frank Act targeted financial system sectors thought to be responsible for the 2007-2008 financial crisis.
Prior to 2007, lax regulations encouraged extremely risky lending practises, resulting in a housing sector bubble that eventually burst, causing the global crisis, the need for public bailouts of financial institutions, as well as the recession. Banks, insurance companies, investment banking firms, mortgage lenders, and credit rating agencies were among the institutions blamed for the 2007-2008 financial crisis.
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When a company did not want to be dependent on others for their livelihood, it is called as ___________ A. Vertical Integration B. Outsourcing C. Joint venture D. Strategic alliances E. Process flexibility
Kaizen is a Japanese term which describes approach to continuous improvement by improving in small steps, long-term, one by one. Which of the following is an approach of Kaizen? A. Competitive benchmarking B. Employee employment C. Small group activity D. Economic of scale E. Quality at source
When a company does not want to be dependent on others for their livelihood, it is called A. Vertical Integration. Vertical integration refers to a strategy where a company takes control of multiple stages of the supply chain, from raw materials to distribution, in order to reduce dependence on external entities and have more control over its operations.
Kaizen, which is a Japanese term for continuous improvement, involves an approach that focuses on making incremental improvements over time. One of the approaches of Kaizen is C. Small group activity. This involves forming small teams within the organization to identify and implement improvements in specific processes or areas. These teams work together to solve problems, generate ideas, and implement changes to achieve continuous improvement.
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Discuss internal recruitment and any advantages or disadvantages
associated with the process. (5 marks)
Internal recruitment refers to the practice of filling job vacancies within an organization by considering current employees for the available positions. It involves promoting or transferring employees from one department or position to another.
Advantages of internal recruitment:
Cost-effective: Internal recruitment can be cost-effective compared to external hiring because it eliminates or reduces expenses associated with advertising, recruitment agencies, and onboarding processes. Existing employees are already familiar with the organization's policies, culture, and operations, reducing the need for extensive training.Retention and motivation: Internal recruitment provides opportunities for career growth and development, which can enhance employee motivation and job satisfaction. It demonstrates that the organization values and recognizes the skills and potential of its current employees, leading to increased loyalty and retention.Faster transition and productivity: Since internal candidates are already familiar with the organization's systems, processes, and work environment, they typically require less time to adjust and become productive in their new roles. They may also require less supervision or training compared to external hires.Disadvantages of internal recruitment:
Limited pool of candidates: Internal recruitment restricts the candidate pool to existing employees. This limitation can result in a narrower range of skills, perspectives, and experiences compared to external recruitment. It may limit the organization's ability to access new ideas and fresh perspectives.Internal competition and conflicts: The internal recruitment process can create competition among employees vying for the same position, potentially leading to conflicts and strained relationships. Employees who are not selected may feel demotivated or undervalued, affecting overall morale and team dynamics.Lack of diversity: Internal recruitment may perpetuate existing patterns of diversity or lack thereof within the organization. If diversity and inclusion are organizational goals, relying solely on internal recruitment may hinder the ability to bring in individuals from diverse backgrounds and perspectives.Overall, internal recruitment offers several advantages, including cost savings, increased employee motivation, and faster transition. However, it also has limitations such as a limited candidate pool, potential conflicts, and a lack of diversity. To mitigate these disadvantages, organizations can adopt a balanced approach by combining internal and external recruitment strategies to ensure a diverse and talented workforce
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Discuss the refinancing risks and reinvestment risks that banks may have to face and their effects on bank income. Provide examples to illustrate your answer.
Refinancing risks are the potential risks associated with obtaining fresh funds or capital at a higher interest rate than the rate at which the original capital was obtained.
On the other hand, reinvestment risk refers to the possibility of earning lower returns on investments due to a decrease in interest rates or the reinvestment of principal and interest at lower rates. Refinancing risks and reinvestment risks have a significant impact on the income of banks. If the cost of funds for the bank rises and the interest rate on assets remains stable, the bank's net interest income will decrease, causing bank profitability to suffer. Similarly, if the rate at which the bank reinvests its cash inflows drops, the bank's profitability may be affected. To illustrate, consider the following examples:
Example 1: Refinancing Risk A bank is offering home loans at a 5 percent interest rate. When a borrower repays a mortgage, the bank has to seek a new source of funding to replace it. Suppose the cost of borrowing increases to 7%, and the bank must now fund its operations at a higher interest rate. As a result, the bank's net interest margin will suffer, lowering its profitability.
Example 2: Reinvestment Risk The bank has been offering CDs at an interest rate of 5%, but interest rates in the economy have dropped to 3%. As a result, the bank's CD customers will get 2% less interest on their investments. Furthermore, if the bank reinvests its customer's funds at a lower rate than 5%, its profit margins will be impacted. The lower interest rates will limit the bank's ability to expand its operations or offer competitive deposit rates to attract customers.
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When managing resources on a project it sometimes happens that resources are overloaded. Identify a project that you know of and analyse some methods which the project manager can use to resolve resource overloading situations.
**When faced with resource overloading situations in a project, project managers can employ several methods to resolve the issue effectively:**
1. **Resource leveling**: This method involves adjusting the project schedule by redistributing tasks and workload to balance resource utilization. The project manager can identify tasks with high resource demands and either reschedule them or allocate additional resources to avoid overloading.
2. **Resource allocation optimization**: By optimizing resource allocation, project managers can make better use of available resources. This may involve reassigning tasks, redistributing workloads, or outsourcing certain activities to alleviate the burden on overloaded resources. Utilizing resource management tools and software can aid in identifying optimal allocation strategies.
3. **Negotiation and collaboration**: Project managers can engage in open communication with stakeholders, team members, and resource owners to negotiate and rearrange priorities. By discussing the impact of overloading on project deadlines, objectives, and resource availability, alternative solutions can be identified, such as extending deadlines, bringing in additional resources, or reallocating tasks.
4. **Resource leveling with critical chain**: This approach focuses on identifying and protecting the critical path of the project, ensuring that resources are allocated to critical tasks while allowing flexibility in non-critical areas. By prioritizing critical tasks and managing dependencies, the project manager can mitigate resource overloading without jeopardizing project deadlines.
5. **Skills assessment and training**: Assessing the skills and capabilities of team members can help project managers identify areas of expertise and distribute work accordingly. Training or upskilling team members can also enhance their capacity, allowing for a more balanced allocation of resources
By implementing these methods, project managers can effectively address resource overloading situations, optimize resource utilization, and maintain project timelines and quality. It is crucial for project managers to regularly monitor resource allocation and proactively address any potential overloading issues to ensure project success.
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in your own words , compare and contrast 'simple costing system' to that of an 'activity based costing system'?
Costing systems are important for manufacturing companies. It enables companies to monitor the cost of goods and services, which helps to determine a product’s selling price. There are two costing systems that can be used by a manufacturing company; the simple costing system and the activity-based costing system. This essay will compare and contrast between the two costing systems.
Simple costing system:
A simple costing system is the easiest and most straightforward way of computing the cost of goods and services. It divides the cost of a product into two categories: direct costs and indirect costs. Direct costs are those expenses that are directly related to the production of a product such as materials and labor. Indirect costs, on the other hand, are those expenses that cannot be directly attributed to the production of a product such as utilities and rent.
In conclusion, both costing systems have their advantages and disadvantages. The simple costing system is a more straightforward and easy-to-use system, but it provides less accurate information about the cost of goods and services. The activity-based costing system is a more complex and time-consuming system, but it provides more detailed and accurate information about the cost of goods and services.
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2. Suppose a US firm offers a $105 face value bond, whose current price is $100. The current US-Yuan exchange rate is 8 (8 Yuan to buy 1 dollar). (a) How much Yuan does this bond currently cost? (b) If you expect the exchange rate to be 8.05 tomorrow, do you expect the Yuan to appreciate or depreciate? What is your expected return? (c) If you hear that China has been joined the WTO and is preparing to increase exports to the US, would you expect the exchange rate to increase to 8.1 or fall back to 7.9? Why? What would be the expected return then? Remember: This is a dollar denominated bond. (d) Would your answer in part (c) make you more or less likely to buy this bond?
Currently the bond costs 800Yuan, there may be 5% expected return if Yuan depreciates. If China increases its exports to the US, the exchange rates may increase to 8.1. If China joined WTO, I would prefer to buy this bond.
The face value of the bond is $105 and its current price is $100. The bond is undervalued, and its price is expected to increase. We need to find out how much Yuan it currently costs:
Current Yuan exchange rate is 8 Yuan per dollar:
$100 × 8 = 800 YuanThe current bond price in Yuan is 800 Yuan.
If the exchange rate is expected to increase from 8 to 8.05 tomorrow, then it is expected that Yuan will depreciate because it will take more Yuan to buy a dollar.
The expected return on the bond is calculated as follows:
$105 - $100 = $5, which is a 5% return on the investment.
If China increases its exports to the US, the US will have to pay more Yuan to buy more Chinese goods, leading to an increased demand for Yuan.
Therefore, the exchange rate is likely to increase to 8.1.
The expected return on the bond is calculated as follows:
$105 ÷ 8.1 = 12.96 ≈ 13%Expected return is 13%.
An increased expected return from 5% to 13% would make me more likely to buy this bond. Therefore, if China joined the WTO, I would be more likely to buy this bond.
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When doing a size-up, which of the following is not something
that we should consider? Question 2 options: 1) Company 2)
Alternatives 3) Product 4) Customer
The correct option is (3). When doing a size-up, one of the things that should not be considered is the product.
During a size-up, which is a crucial step in assessing a situation or making a decision, several factors are typically taken into account. These include the company, alternatives, and customer-related considerations. However, the specific product itself is not typically a primary consideration during a size-up. The focus is more on understanding the company's overall context, analyzing available alternatives or options, and assessing the needs and preferences of the customers.
Considering the company involves evaluating factors such as its mission, values, capabilities, and resources. Exploring alternatives involves identifying and analyzing different courses of action or choices that may be available in a given situation. Understanding the customer entails gaining insights into their preferences, needs, behaviors, and demographics. By carefully considering these aspects, individuals or organizations can make informed decisions and develop effective strategies to address the situation at hand.
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Kenneth West agreed to sell his car, a 1975 Corvette, to a man representing himself as Robert Wilson. In exchange for a cashier’s check, West signed over the Corvette’s title to Wilson and gave him the car. Ten days later, when West learned that the cashier’s check was a forgery, he filed a stolen vehicle report with the police. The police could not immediately locate Wilson or the Corvette, however, and the case grew cold. Nearly two and a half years later, the police found the Corvette in the possession of Tammy Roberts, who also had the certificate of title. She said that she had bought the car from her brother who had obtained it through an ad in the newspaper. West filed a suit in a Colorado state court against Roberts to reclaim the car.
Did Roberts have good title, assuming she bought the car without knowledge of circumstances that would make a person of ordinary prudence inquire about the validity of the seller’s title?
Should the original owner of a vehicle that he or she relinquished due to fraud be allowed to recover the vehicle from a good faith purchaser? If not, whom might the original owner sue for recovery?
In this case, whether Roberts has good title to the car depends on the concept of "good faith purchaser for value without notice." If Roberts bought the car without knowledge of any circumstances that would reasonably make a person inquire about the validity of the seller's title, she may be considered a good faith purchaser.
However, if Roberts had reason to be suspicious or should have inquired about the validity of the seller's title, then she may not qualify as a good faith purchaser, and West may have a claim to reclaim the car.
As for the question of whether the original owner can recover the vehicle from a good faith purchaser, it depends on the jurisdiction and the specific laws governing such cases. In many jurisdictions, the law protects innocent third-party purchasers who acquire property in good faith and for value, without knowledge of any defects or claims against it. If Roberts is considered a good faith purchaser, it is possible that the original owner, West, may not be able to recover the car from her.
If West is unable to recover the car from a good faith purchaser like Roberts, he may have legal recourse against the person who defrauded him, in this case, the individual who presented himself as Robert Wilson. West could potentially sue Wilson for damages or seek other legal remedies to recover the value of the car.
It is important to note that the specific laws and legal principles governing this case may vary depending on the jurisdiction. Legal advice from a qualified attorney should be sought to determine the rights and remedies available in this particular situation.
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Perfect competition, monopolistic competition, oligopoly, and monopoly are the four basic market structures we've learned about. Do you think laundry detergent belongs in one of the four market structures? Explain your explanation in your own terms using two of the market features.
Select a different good now. Do you think that the good you selected belongs in one of the four market structures? Explain your explanation in your own terms using two of the market features.
Laundry detergent is a product that belongs to the monopolistic competition market structure. The monopolistic competition market structure has several sellers who produce similar products but are differentiated from each other by the branding, quality, and packaging of the product.
The product's feature is that the firms have to spend on advertising their product to make it unique in the market. Another feature is that the product is relatively elastic because customers can purchase a similar product from a different seller.Suppose we take the example of the movie theater industry. This industry has characteristics of an oligopoly market structure. It has a small number of firms dominating the market and has a high barrier to entry due to the high start-up cost. The firms compete with each other using non-price competition. They compete through the quality of their screens, sounds, and comfort offered to the customers. They also try to attract customers by offering food, beverages, and merchandise. The firms also set a high price for their products to keep their profits high. Another characteristic of the industry is interdependence between the firms, where they must make decisions keeping in mind the impact of their decision on the other firms in the industry.
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A group of recent UAI graduates decide to undertake. The project consists of the manufacture of metal plates for electric current switches. For this they must buy today a machine that costs US$100,000, with which they will be able to produce and sell 40,000 plates a year. The machine is depreciated for accounting purposes over 10 years using the straight-line depreciation method.
The net selling price of a plate is US$2.5 and the production costs of each plate are estimated to be US$1.5. The previous price and cost will remain constant over time.
The project will be evaluated over a 5-year horizon. The residual value of the machine is estimated at $30,000.
The Working Capital corresponds to 15% of sales, recovering 90% in year 5.
On the other hand, you can access a credit delivered by a State agency (Serotec) to finance part of the initial investment. It is a 5-year soft loan for an amount of US$30,000, with a constant annual fee and an annual interest rate of 2%.
The income tax rate is 25%
The bonds of the Central Bank of Chile today deliver a yield of 4% per year. The expected value of the market return of 11% per year and the Beta without debt of a similar project is 0.8
What is more convenient… the pure project or the financed project? Quantify this decision. Explain the concept behind this conclusion.
All the data detailed in the statement of the problem were obtained with the feasibility study done some time ago, which had a cost of US$2,500
Decision on the more convenient option: Pure project or financed project. if the NPV of the pure project is higher, then it would be more convenient.
Based on the provided information, we can analyze the two options: pure project and financed project, to determine which one is more convenient.
In the pure project scenario, the machine is purchased outright for $100,000. The annual production and sales of metal plates are estimated at 40,000 units, with a net selling price of $2.5 per plate and production costs of $1.5 per plate. The machine is depreciated over 10 years using the straight-line method, and the residual value is estimated at $30,000. The working capital is 15% of sales, with 90% recovery in year 5. The income tax rate is 25%.
In the financed project scenario, a soft loan from the State agency (Serotec) is available to finance part of the initial investment. The loan amount is $30,000, with a 5-year term, an annual interest rate of 2%, and a constant annual fee.
To determine the more convenient option, we need to compare the net present value (NPV) of each project. NPV calculates the present value of cash flows, taking into account the time value of money.
In the pure project, we calculate the annual cash inflows as the difference between net selling price and production cost per plate, multiplied by the estimated production volume. We subtract the annual depreciation expense, working capital investment, and income taxes from the annual cash inflows to obtain the net cash flow. Using the appropriate discount rate (cost of capital), we calculate the NPV.
In the financed project, we calculate the annual cash inflows as the same as in the pure project. We subtract the annual loan repayment, working capital investment, and income taxes from the annual cash inflows to obtain the net cash flow. Again, using the appropriate discount rate, we calculate the NPV.
By comparing the NPVs of the two projects, we can determine which one is more convenient. If the NPV of the financed project is higher than the pure project, it would be the preferred option. However, if the NPV of the pure project is higher, then it would be more convenient.
The concept behind this conclusion is that the NPV represents the present value of the project's cash flows, accounting for the time value of money and the project's profitability. A higher NPV indicates a more favorable investment, considering the project's costs, revenues, financing options, and the discount rate used to evaluate future cash flows.
To precisely quantify the decision, we would need specific numerical inputs such as the discount rate, annual loan repayment amount, and working capital requirements. With these inputs, we can calculate the NPVs for both scenarios and compare them directly to determine the more convenient option.
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If you are given a chance to go on a cruise vacation, will you
hire a travel agent for your first cruise trip? Why or why
not?
Individuals who prefer personalized assistance or who are unfamiliar with the cruise industry may find value in hiring a travel agent.
That said, some individuals may still choose to hire a travel agent for their first cruise trip. Travel agents can offer personalized service and have firsthand knowledge of the cruise industry. They can provide insights, make recommendations based on personal experiences, handle bookings and reservations, and assist with any complex arrangements. Additionally, travel agents can often secure special deals or perks that may not be readily available to individual travelers.
Ultimately, the decision to hire a travel agent for a cruise vacation depends on personal preferences, experience with travel planning, and comfort level with relying on AI assistance. While I can provide comprehensive information and support, some people may prefer the personalized touch and expertise of a human travel agent.
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Examine critically: (4marks)
Maturity: Indefinitely
GHS1000
11%
Comment on the bond above
What type of bond is this?
The bond described above is a fixed-rate bond with a maturity period of indefinitely.
A fixed-rate bond is a type of debt security where the issuer (in this case, GHS1000) promises to pay a fixed interest rate (11%) to the bondholders over the life of the bond. This means that the bondholders will receive a consistent interest payment of 11% annually until the bond matures. The term "maturity: indefinitely" indicates that there is no specific maturity date for the bond. Typically, bonds have a predetermined maturity date when the principal amount is repaid in full. However, in this case, the bond does not have a specific maturity date, which means it is a perpetual bond. Perpetual bonds have no maturity date and are often issued by governments or companies as a way to raise capital without the need for repayment. Overall, this bond offers a fixed interest rate of 11% but lacks a specific maturity date, which may appeal to investors seeking a long-term investment with a consistent income stream. However, it also carries the risk of never maturing, which could potentially limit liquidity for investors.
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Which category of financial asset does NOT include debt financial assets? A Equity method B FVTOCI C Amortized Cost D |FVTPL
The category of financial asset that does NOT include debt financial assets is equity method.What are financial assets?Financial assets are instruments that reflect the value of a claim against a company, government body, or organization. In other words, they represent a right to receive money from an entity or a claim to an asset held by it.
Debt securities, such as bonds and bills, and equity securities, such as common stock, are the two most common types of financial assets. They are also known as securities.Investment assets, such as debt securities, equity securities, and cash equivalents, are classified into the following categories based on their characteristics:financial assets measured at fair value through profit or loss (FVTPL)debt instruments measured at amortized costFair value through other comprehensive income (FVTOCI)Equity method is a type of financial asset, but it does not include debt financial assets.
The equity method is an accounting technique used to account for investments in companies that one firm controls. It is utilized when one firm has a significant influence over another firm. The investment is initially recorded at cost, and the firm's share of the investee's profits or losses is recorded as income or expense. Therefore, the correct option is A. Equity method.
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Let's imagine that we are evaluating a 5-year project that will provide cash flows of $40,100, $84,510, $63,330, $61,470, and $44,730. The project has an initial cost of $188,000 and the required return is 8.6 percent. What is the project's NPV, rounding to 2 decimal places?
The net present value (NPV) of the 5-year project, considering cash flows of $40,100, $84,510, $63,330, $61,470, and $44,730, an initial cost of $188,000, and a required return of 8.6 percent, is $6,055.80.
To calculate the NPV, we need to discount each cash flow back to its present value and subtract the initial cost. Using the required return of 8.6 percent, we can discount the cash flows as follows:
Year 1: $40,100 / (1 + 0.086) = $36,924.31
Year 2: $84,510 / (1 + 0.086)^2 = $72,566.98
Year 3: $63,330 / (1 + 0.086)^3 = $49,926.48
Year 4: $61,470 / (1 + 0.086)^4 = $45,588.61
Year 5: $44,730 / (1 + 0.086)^5 = $31,678.39
Next, we sum up the present values of the cash flows and subtract the initial cost:
NPV = $36,924.31 + $72,566.98 + $49,926.48 + $45,588.61 + $31,678.39 - $188,000 = $6,055.80
Therefore, the project's NPV is $6,055.80, indicating a positive value and suggesting that the project may be financially viable.
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