MANAGERIAL ECONOMICS MIDTERM EXAMINATION 1. Define and explain the use of indifference curves. Why are firms increasingly sensitive to the application of indifference curves in today’s economy? How does one construct and interpret indifference maps for purposes of corporate strategy? Define and explain the use of indifference curves. “An indifference curve illustrates the various combinations of two goods [or groupings of commodities] that would provide equal satisfaction.” i Therefore
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Name________________________ Student #_____________________ MGT 181 L. Jean Dunn‚ Jr. MIDTERM EXAMINATION PLEASE SHOW YOUR WORK. IF YOUR WORK IS NOT SHOWN YOU WILL NOT RECEIVE ANY PARTIAL CREDIT 100 Total Points 1. “Most CEOs come from a finance background. The reason for this is because they know and understand the financials‚ how the company operates and the language of finance which assists in fund raising.” Please state whether the state whether the statement above is True or
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Test 1 Chapters 1-4 Student: ___________________________________________________________________________ 1. A cause-and-effect relationship is implicit in the: A. Realization principle. B. Historical cost principle. C. Matching principle. D. Going concern assumption. 2. Accounting standard setting has been characterized as: A. A political process. B. Using the scientific method. C. Pure deductive reasoning. D. Pure inductive reasoning. 3. The FASB ’s conceptual framework ’s qualitative
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1.1 Explain the purpose and benefits of planning work‚ and being accountable to others for own work The purpose of planning work and being accountable to other for own work is so you can be organised over the period of time the work task will take you. Planning work enables you to be ready for any other emergencies that you may be faced with. You will also be able to set priorities and your work will be more efficient. By taking responsibility for the work being produced‚ it will give a positive
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1. Tia signs a lease that states that any change in the zoning law that affects the lease will cause its termination. Union City’s zoning board adopts a new zoning classification that affects the lease. This adoption satisfies: a. no condition. b. the condition precedent. c. the concurrent condition. d. the condition subsequent. 2. Bayside Construction Company enters into a contract with Clio to remodel Dewey’s Home Store‚ using products from Eagle Building Supplies. Fresh Food Café is next
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BAD FROG BREWERY‚ INC v. NEW YORK STATE LIQUOR AUTHORITY United States Court of Appeals‚ Second Circuit‚ 1997. 134 F. 3d 87. FACTS Bad Frog Brewery‚ Inc (Bad Frog) was a company that makes and sells alcoholic beverages in 1997. By that time‚ they designed labels for their beverages products that were displaying a drawing of a frog making the gesture of “giving the finger”. Bad Frog sought for permission‚ as required by state law‚ to use the label on bottles of its beer products. The New York
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ACCY 312: Principles of Taxation Department of Accountancy / 3 credit hours / Fall 2014 Course Description Introduction to the tax system faced by individuals and sole proprietors in the United States with a focus on personal business and property transactions. Topics include the tax environment‚ tax provisions relevant to employees‚ business owners‚ and shareholders‚ and taxation of gains and losses. Projects facilitate self-discovery of knowledge and development of a variety of professional
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7) Data from a small bookstore are shown in the accompanying table. The manager wants to predict Sales from Number of Sales People Working. Number of sales people working | Sales (in $1000) | 4 | 12 | 5 | 13 | 8 | 15 | 10 | 16 | 12 | 20 | 12 | 22 | 14 | 22 | 16 | 25 | 18 | 25 | 20 | 28 | x=11.9 | y=19.8 | SD(x)=5.30 | SD(y)=5.53 | a) Find the slope estimate‚ b1. Use technology or the formula below to find the slope. b1=rsysx Enter x‚y Data in TI-84 under STAT > STAT
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1.1 Explain the functions of assessment in learning and development You need to provide evidence in the form of a written statement to say that you understand: The roles of: * initial assessment in identifying learner needs * Formative assessment in tracking learner progress * Summative assessment in assessing learner achievement Assessment can take place at different stages of Learning and Development and all learners should undergo initial assessment in order to identify the
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present in almost every case. It is through education that people can become doctors‚ lawyers‚ teachers‚ etc.; and in this way education is the single most important factor for a country. A good example of this is when an accident has occurred and any man needs to be transported to the doctor for him to cure him. Without education‚ the treatment of the person could not be done perfectly and probably he would suffer a complicated damage in the body or in the head. On the other hand‚ some people belief
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