The goods and services in a communist economy are controlled by the government. The government tends to make the decisions.
In a communist economy, the government tends to dictate the economic structure; thus, the economic instability here is out of the question. Thus, here every citizen is required in order to work to receive benefits, and those who don't have the said corresponding sanctions.
However, this tends to create an incentive to participate and to encourage economic growth. For almost a large part of the 20th century, about one-third of the world lived in communist countries. Where countries were ruled by dictatorial leaders.
Hence, under communism, none of the means of production are owned by the individuals.
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what do you mean by medical personnel?
Answer:
Hello! Medical personnel is basically someone you may may hear or see in a hospital,for example a doctor would be one of them, However your family,you,and other patients are not a medical personnel unless they are with you and at the moment actually working in the hospital or urgent care.Explanation:
Medical personnel means a physician, a physician assistant, nurse practitioner or other health care personnel licensed to at least the level of a registered nurse or licensed practi- cal nurse.
Personnel dedicated solely to medical purposes, whether on a permanent or temporary basis, such as the search for, collection of, transportation of, diagnosis or treatment of the wounded, sick, and shipwrecked, or disease prevention, or the administration or operation of medical units or medical transports.
The term also refers to individuals assigned to medical units, which are structures such as hospitals and other similar units dedicated to the aforementioned medical purposes.
It also includes military and civilian medical personnel of a conflicting party, as well as medical personnel of international relief organizations and civil defense organizations and as well as Red Cross or Red Crescent personnel.
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How does North Korea's economic system work?
North Korea's economic system is a centrally planned economy, meaning that the government controls the production and distribution of goods and services. The government sets production goals and allocates resources to meet those goals.
What is economic system?An economic system is the combination of the various agencies, entities that provide the economic structure that defines the social community. It includes the combination of the various institutions, agencies, entities, and patterns of consumption that comprise the economic structure of a given community. It is the system of production, distribution, exchange and consumption of goods and services of a country or other area. It includes the combination of the various institutions, laws, policies, and processes that affect the production, distribution and consumption of goods and services in an economy. The economic system is comprised of institutions such as the market, banks, money, and property rights and the government. It also encompasses the process of resource allocation, factors of production, and the role of the government in the economy.
The government also sets prices and wages, and controls foreign trade and investment. The economy is heavily reliant on agriculture and mining, and the government has implemented a number of economic reforms in recent years to try to stimulate economic growth. However, the country remains heavily reliant on foreign aid and is subject to international sanctions due to its nuclear weapons program.
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The expense that relates to a formal note payable and accumulates or accrues throughout the accounting period is referred to as
The expense that relates to a formal note payable and accumulates or accrues throughout the accounting period is referred to as the interest expense.
The interest expense can be assumed as a phenomenon wherein the expenses are related to a particular period of accounting, and as a result of the same, only the bills or notes that are payable within the period are recorded under this head in the books of accounts of the firm related thereto. Moreover, the interest expense is also related to the direct expenses and not the indirect ones.
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Your firm has a risk-free investment opportunity where it can invest $160,000 today and receive $170,000 in one year. For what level of interest rates is this project attractive
The level of interest rate is this project attractive is 10.90%
We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.
Hence
173000=156000(1+r/100)^1
Hence
(173000/156000)=1+r/100
Hence
1+r/100=1.10897
Hence r=(1.10897-1)×100
=10.90%(Approx).
Hazard-free go-back is the theoretical go-back attributed to funding that gives a guaranteed go-back with zero risks. The chance-unfastened fee of go back represents the hobby on an investor's money that would be predicted from a virtually danger-unfastened investment over a special time frame.
The threat-unfastened charge determines the return an investor can assume over a particular period from an investment. The fee of a chance-unfastened charge is calculated with the aid of subtracting the current inflation fee from the whole yield of the treasury bond matching the investment period.
The hazard-free rate is typically taken into consideration to same to the hobby paid on a 3-month government Treasury bill, generally the safest funding an investor could make. The hazard-loose rate is a theoretical quantity considering technically all investments convey a few forms of risk, as defined here.
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The units of an item available for sale during the year were as follows: Jan. 1 Inventory 11 units at $41 $451 Aug. 13 Purchase 17 units at $44 748 Nov. 30 Purchase 18 units at $46 828 Available for sale 46 units $2,027 There are 28 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a. First-in, first-out (FIFO) $ b. Last-in, first-out (LIFO) $ c. Weighted average cost $
Answer:
A. $1,620
B.$1,199
C. $1,234
Explanation:
A. Calculation to Determine the inventory cost using the first-in, first-out (FIFO) method
First in first out = (18*46+18*44)
First in first out =$828+$792
First in first out =$1,620
Therefore the inventory cost using the first-in, first-out (FIFO) method is $1,620
B. Calculation to determine the inventory cost using the last-in, first-out (LIFO) method
Last in first out = (11*41+17*44)
(11-28=17)
Last in first out =$451+$748
Last in first out =$1,199
Therefore the inventory cost using the last-in, first-out (LIFO) method is $1,199
C.Calculation to determine the inventory cost using the Weighted average cost method
Weighted average = ($2,027/46)*28
Weighted average =$44.0652*28
Weighted average =$1,234
Therefore the inventory cost using the Weighted average cost method is $1,234
A seller decided to back out of a sales contract for no good reason. What recourse does the buyer have
To bring a specific performance lawsuit; Failure to comply with the agreement's conditions constitutes a breach of contract.
Can a vendor terminate a deal without cause?You may be required to perform the contract in accordance with its terms by a court order if you don't finish the transaction and don't have a valid reason to break the agreement. This is known as "specific performance."
What occurs if a vendor breaches a contract?The repercussions for vendors who breach contracts In certain circumstances, a property seller who violates a purchase agreement may be held liable for breach of contract. A judge could mandate that the seller execute a deed and proceed with the transaction.
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Which type of costs are related to higher insurance premiums and increased disability payments due to obesity-related health conditions
Direct medical expenses due to obesity-related medical issues, what expenditures are associated with higher insurance rates and greater disability payments
How much cash does disability provide you with?Most people typically receive between $910 & $1,310 per month. The average monthly benefit for eligible people in 2021 is $1,277, according to the Administration for Social Security (SSA). Benefits for those with high incomes during their working years might reach $3,148 per month.
How is a disability determined?The Weekly Benefit Allocation (WBA) you receive is based on your yearly income. To the maximum WBA, it is projected to be between 60 and 70 percent of a earnings you made in the five to eighteen months prior to the start of your claim. The beginning of your impairment is the date on which your claim begins.
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You sell a municipal bond that has been advance refunded. It will be called at 102 four years from now. On the confirmation, the yield must be stated as the yield to A) maturity. B) call. C) maturity or yield to call, whichever is lower. D) maturity or yield to call, whichever is higher.
The yield must be identified as the yield to call on the confirmation. The correct answer is option (B).
What is municipal bond?A municipal bond, or "muni," is a type of bond issued by local or state governments, as well as the authority and special districts they establish.
According to MSRB regulations, the yield to call that has been established when a call date has been set by a prerefunding must appear on the confirmation statement. This bond issuance will be called just at call date due to the prerefunding. What will occur is certain to happen. As a result, setting the bond's price to the call date is reasonable. The bond's previous maturity is no longer significant.
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You own a construction business and need to hire workers to build a house and add one worker at a time to the added contribution of each worker. At what point will you stop hiring workers ? Relate this process to the three stages of production function as you explain your answer .
Financial accounting often has challenges with valuation and estimation in all but the following area:
- goodwill
- accounts payable
- accounts receivable
- inventory
The area that not included in the challenging with valuation and estimation for financial accounting is accounts payable. Because accounts payable is not the area for financial accounting.
Financial accounting in economic and business generally can be defined as the process of reporting recording, summarizing a company's business transactions through financial statements. Financial statements that are responsible are for financial accounting are the cash flow statement, tthe income statement, the balance sheet, t and the statement of retained earnings. Financial accounting has several areas, such as asset, expense, income, liability and equity accounts.
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Brent is a full-time exempt employee in Clark County, Indiana. He earns an annual salary of $55,800 and is paid semimonthly. He is married filing separately and has indicated checkbox withholding on his 2020 Form W-4. His state income tax is 3.23%, and Clark County income tax is $41.85 per pay period. What is the total of FICA, Federal, state, and local deductions per pay period, assuming no Pre-Tax Deductions
The total of FICA, Federal, state, and the local deductions per pay period, assuming no Pre-Tax Deductions is calculated below.
Given,
Annual salary = $55,800
Income tax = 3.23%
Clark County income tax = $41.85 per pay period.
Brent then gets paid semi-monthly so then his pay per period is:
= $55,800 / (12 months * 2)
= $9,300
His federal tax is:
= $80
This figure is said to be based on the intersection between the income of $1,640 and the 3 withholding allowances.
FICA tax rate is 7.65% so his FICA tax is:
= $9,300 × 7.65%
= $71,145
Local deduction - Clark County Income tax = $41.85
Total deductions:
= Federal tax + State income tax + FICA + Clark County income tax
while assuming no Pre-Tax Deductions.
= 80 + 125.46 + 52.97 + 29.52
= $287.95
Hence, the total of FICA, Federal, state, and the local deductions per pay period, assuming no Pre-Tax Deductions is calculated.
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Thaddeus is a salaried exempt worker who earns $52,500 per year for a 45-hour workweek. During a biweekly pay period, he worked 105 hours. What is his gross pay
Thaddeus' gross pay for the biweekly pay period is $6,562.50. This is calculated by multiplying his salary of $52,500 by the number of hours worked (105) and then dividing by the number of hours in a regular workweek (45).
This amount does not include any overtime pay, as salaried exempt employees are not eligible for overtime.
Prior to making any deductions, including tax deductions, the gross compensation of an employee is computed by averaging their basic pay and benefits. In this context, a basic salary is an employee's base pay or the set portion of their benefits package.
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How can the use of new technology in industry benefit?
The application of modern technology has recently revolutionized the industrial sector. Industries can enhance and increase the efficiency of their manufacturing processes by adopting the most recent technologies. Industries can shorten the time it takes to accomplish activities while improving accuracy and consistency by utilizing automation and robotics.
Utilization of new technology by producers in the sector:
Improved output, for starters
2. More adaptability
3. Budget savings
4. Increased security
5. A better experience for customers
6. Heightened competition
7. Enhanced quality
8. More easily scaleable
Summary:Following the discussion of the advantages of technology use in the industrial sector, it is obvious that purchasing new technologies can assist manufacturers much. Through cost reductions and easier scalability, technology can help companies remain competitive in a market that is changing quickly.
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Suppose that an industry's long-run supply curve is downsloping. This suggests that:
Suppose the long-term supply curve for an industry is going down. This suggests that this is an industry with declining costs.
Briefly report on the supply curve.A supply curve can be viewed as a graphical representation of the relationship between the cost of an item or service and its supply over a period of time. In one example, the quantity offered is usually shown on the horizontal axis and the price is shown on the left vertical axis. The law of supply is represented as a supply curve that increases from left to right as the price of a particular commodity rises (all else being equal). Note that this phrasing always implies that price is the independent variable and quantity is the dependent variable. Economics is an exception where independent variables are often on the horizontal or x-axis. A new supply curve must be created whenever factors other than price or quantity change.
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What are 4 examples of variable expenses?
Raw material, piece-rate labor, production supplies, and commissions, are 4 examples of variable expenses.
A variable expense is a commercial expenditure that changes in proportion to how extensively a company produces or sells. malleable costs increase or drop turning on a company's product or deal volume — they uprise as the product raises and stumble as the product diminishments.
Prototypes of variable expenses include a manufacturing company's costs of raw accouterments and packaging — or a retail company's credit card sale freights or shipping charges, which rise or fall with deals. A variable cost can be varied from a fixed cost. A variable cost is an expenditure that changes in harmony with product affairs or deals.
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An airline sells 120 tickets for a flight that seats 100. Each ticket is non-refundable and costs $250. The unit cost of flying a passenger (fuel, landing fees, etc.) is $110 and assumes that every flight is full. If the flight is overbooked, each person who does not get a seat is given $400 in cash. Assume it is equally likely that any number of people between 91 and 120 show up for the flight. Rounded to the nearest thousand, what is the average expected profit the flight will generate
After subtracting revenue from variable and fixed expenses, profit is realized. Profit can be calculated for a variety of purposes, including determining a product's financial viability and managerial effectiveness.
The average profit from equally likely scenarios would be the expected profit.
The expected profit is the sum of the profit from the initial 90 customers and the likely profit or loss from the subsequent 30 customers.
The probability of each customer traveling for the next 30 customers is 1/30, so the probabilities of profit or loss from those customers are as follows:
$120 x 10 x 1/30 - $100 x 20 x 1/30 = -$26.67
Expected profit = 90 x $120 - $26.67 = $10,773 or $11,000.
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A(n)
is a tax issued by the federal government on imported goods.
sales tax
tariff
excise tax
Answer: tariff
Explanation:
I took the test
The dollar differential between the cost and sales price of a menu item is called
• food cost
• labor cost
• contribution margin
• profit margin
The monetary difference between a menu item's cost and sales price is known as the contribution margin. Therefore, the right answer would be contribution margin.
The contribution margin can be expressed in either gross or per-unit terms. It indicates the additional revenue made for each product or unit sold after the variable element of the business's costs have been subtracted.
The selling price per unit less the variable cost per unit is the contribution margin. The metric, also known as dollar contribution per unit, shows how a certain product affects the company's overall earnings.
It offers a means of demonstrating the potential for profit of a certain product being supplied by a business and displays the percentage of revenue that goes toward paying the business' fixed costs. Profit is the amount that remains after fixed expenses have been paid.
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Company X is sorting through prospective job applications for an open position in their finance department. Twenty percent of the applicants have MBAs, and 30% of the applicants have 5 or more years of work experience. If 40% of the MBA applicants also have 5 or more years of work experience, what percent of applicants have no MBA but do have 5 or more years of work experience
22% of the applicants have no MBA but do have 5 or more years of work experience
To calculate the percent of applicants who have no MBA but do have 5 or more years of work experience, we can use the following steps:
Find the percentage of applicants who have an MBA: 20%
Find the percentage of applicants who have 5 or more years of work experience: 30%
Find the percentage of applicants who have an MBA and 5 or more years of work experience: 40% of the MBA applicants also have 5 or more years of work experience, so
= 40% of 20%
= 8%
Subtract the percentage of applicants who have an MBA and 5 or more years of work experience from the percentage of applicants who have 5 or more years of work experience:
= 30% - 8%
= 22%
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An apartment complex generates $905,000 in Effective Gross Income and $14,000 in other income. The same complex has $415,000 in operating expenses and $39,000 as reserves. What is the Net Operating Income of the complex
Net Operating Income for the complex is $465,000. A standard metric to evaluate a property's profitability is net operating income (NOI).
The formula for calculating a real estate agent's commission should be which of the following?Calculating a straightforward calculation is how the real estate commission calculator operates: The property price multiplied by the agreed-upon payment percentage (%). When a homeowner sells their house for $200,000 and the commission is 5%, for instance, the calculation is (5/100) x $200,000 = $10,000 commission.
What is the name of the optional program where escrow accounts are eligible for interest?Attorneys deposit these minimal short-term monies into a commingled escrow account that is eligible for the Interest on Lawyer Trust Accounts (IOLTA) program, where the account can earn interest.
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When office-based services are performed in a facility, such as a hospital or outpatient setting, payments are reduced because the doctor did not provide supplies, utilities, or the costs of running the facility. This is known as the __________ differential.
When office-based services are performed in a facility, such as a hospital or outpatient setting, payments are reduced because the doctor did not provide supplies, utilities, or the costs of running the facility. This is known as the facility fee differential.
Fee Differential means the outright worth of the distinction between (y) the total Pertinent Expenses really paid to Supplier for the Subject Assistance preceding giving impact to any change in accordance with such Relevant Expenses as per arrangements of Section 2(e) and (z) the total Material Expenses that would have been paid to such Supplier for such Subject Administrations had the acclimation to such Appropriate Expenses been made on the date concerning this.
A Prospective Payment System (PPS) is a met-hod of repayment wherein Federal medical insurance payment is made in view of not entirely settled, fixed sum . The compensation sum for a specific help is derived in view of the classification arrangement of that ser-bad habit ( for instance, determination related bunches for in-patient medical clinic administrations ).
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Car insurance and cars are complements. If the price of car insurance increases, the quantity of cars demanded decreases. demand for cars increases.
More information is needed to determine if the demand increases or decreases.
demand for cars decreases.
Which of the following shifts the supply curve for oranges?
O an increase in income for all orange consumers if oranges are a normal good
O an increase in the price of bananas, a substitute in consumption for oranges
O a newly discovered increase in the nutritional value of oranges
O disastrous weather that destroys about half of this year's orange crop
An increase in price of bananas, a substitute in consumption for oranges shifts the supply curve for oranges.
What is a supply curve?The supply curve shows how the cost of a good or service relates to how much is provided over a given length of time. In a typical situation, the price will be displayed on left vertical axis and the quantity delivered will be displayed on the horizontal axis. In the event that a variable other than price or quantity changes, a new supply curve must be created. Imagine, for example, that some new soybean growers enter the market, clearing land for cultivation while increasing the area used for soy production. In this scenario, more soybeans will be produced even if the price remains unchanged, moving the supply curve to the right in the graph below (S2).
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The period T (in econd) of a pendulum i given by T=2\pi \qrt((L)/(32)), where L tand for the length (in feet) of the pendulum. If \pi =3. 14, and the period i 15. 7 econd, what i the length?
The length can be calculated if we input the value of period and [tex]\pi[/tex]. The value of length is 200 feet.
The period, or also known as periodic time, of a periodic variation of a quantity generally can be described as the time interval between two successive repetitions. We can determine the period and hence the frequency by timing the duration of one complete oscillation.
The formula of period is
T = 2[tex]\pi[/tex][tex]\sqrt{\frac{L}{32} }[/tex]
If the value or [tex]\pi[/tex] is equal to 3,14 and the period is 15,7. Then we can calculate L:
15,7 = 2 x (3,14) [tex]\sqrt{\frac{L}{32} }[/tex]
15,7 = 6,28[tex]\sqrt{\frac{L}{32} }[/tex]
2,5 = [tex]\sqrt{\frac{L}{32} }[/tex]
[tex](2,5)^{2}[/tex] = [tex](\sqrt{\frac{L}{32} })^{2}[/tex]
6,25 = [tex]\frac{L}{32}[/tex]
L = 6,25 x 32
L = 200 feet
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You currently work for the Lexington Legends, a minor league baseball team. The team's attendance is down this year even though the team is playing
better than it ever has before. What part of the promotional mix would you suggest the team adjust in order to increase attendance?
Multiple Choice
- position
- promotion
- place
- product
- price
The correct response is b) promotion. Attendance in Minor League Baseball (MiLB) is low.
Promotion includes a wide range of activities aimed at increasing public awareness or advancing a product. When referring to a career, promotion is raising a worker's rank or position within a hierarchical system. An employee's rank or position in an organizational hierarchy system is elevated by a promotion. Promotion could be an employee's reward for excellence, or a favorable evaluation. These include event marketing, exhibits, and trade shows, as well as direct marketing PR, advertising, and sales promotion. The main advantage of a promotion is that it makes a business stand out from its competitors. Without competition, no company would ever need to run promotions. To continue doing business with customers, you must stay one step ahead of your rivals.
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Is 817 a good credit score?
Yes, 817 is a very good credit score, according to experts.
This indicates that someone with a credit score of 817 is seen as having a very low probability of defaulting on their debts.
What is a Good Credit Score?Generally speaking, a credit score of 700 or higher is regarded to be good, though this can change based on the scoring methodology being utilized.A high credit score can facilitate credit applications and lead to more favorable terms such as lower interest rates.A score of at least 800 is excellent and belongs to the highest category of credit scores.It's a record of your credit history, including whether you pay your payments on time, how many credit cards you have, what kinds of credit you use, and how much debt you have.If you apply for a loan or a credit card, the lender will look at your credit history before approving you.A person with a credit score of less than 600 is said to have poor credit, and they may find it difficult to get credit or receive less favourable terms.To learn more about good credit score from the given link :-
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refer to the data. diminishing marginal returns become evident with the addition of the:
Look at the numbers. With a third worker added, decreasing marginal returns become apparent. The idea of declining marginal utility is connected to the law of decreasing returns.
The rate of return for a marginal increase in investment is known as the marginal return; essentially speaking, this is the extra output that results from using a variable input one unit more while using other inputs at the same level. An economic theory known as the rule of declining marginal returns states that once an optimal level of capacity is reached, adding more factors of production will really only lead to smaller improvements in output. For instance, a factory hires people to produce its goods, and eventually the business performs at its best. If you increase the number of employees beyond this point, operations will become less efficient even if all other production parameters remain constant.
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Harold works as an operations manager. He uses a project management tool to schedule and manage the steps of the manufacturing process. Harold has made a list of all the activities involved in the process. He has calculated the optimistic time, most likely time, and pessimistic time that the process might take to be completed. Which project management tool is Harold using?
A.
Critical Path Method (CPM)
B.
Program Evaluation and Review Technique (PERT)
C.
Total Quality Management (TQM)
D.
Gantt chart
E.
Just In Time (JIT)
Answer:
B
Explanation:
Answer:
PERT
Explanation:
Plato/Edmentum
What is the character of a gain resulting from the sale of a piece of land used in an active trade or business for two years?
Question options:
O Capital
O Ordinary
O Section 1231 (and may receive LTCG treatment)
O Investment
O None of the above
Capital gain is the character of a gain resulting from the sale of a piece of land used in an active trade or business for two years.
Income from the sale of real estate beyond 24 months is considered a long-term capital gain and is taxed at 20% with indexation. When calculating LTCG, the taxpayer should use the Cost Inflation Index (CII) published by the income tax department to determine the Indexed Cost of Acquisition.
When a capital asset is sold, its value increases, and this is referred to as a capital gain. Simply put, a capital gain happens when you sell an asset for more money than you paid for it initially.
The profit made from the selling of an asset, such as stocks, bonds, or real estate, is known as a capital gain. When an asset's selling price is higher than its original acquisition price, a capital gain is realized.
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probably the single most important factor in predicting the success of a new product in its degree of __ compared to existing products
Relative value of the new product in comparison to old products is perhaps the single most crucial aspect for accelerating theadoption & diffusion process and ensuring the product's success.
What three diffusion processes are there?Chemical potential-higher to potential-lower zones are where molecules disperse. The three mechanisms by which diffusion takes place are chemical g, self-diffusion, and intradiffusion.
What in finance is a diffusion process?By the diffusion process, financial terms a view of how a stock's price fluctuates that holds that the price assumes all intermediate values.
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You are a project manager for Johnson Keyboards, Inc. Your organization has adapted the PMBOK Guide as a standard tool for how projects should operate, and you are involved in shaping the standardization for all future projects. In light of this information, what is the recommended course of action for the processes and procedures in the PMBOK Guide
The recommended course of action is that the PMBOK guide is not required by all projects.
The Project Management Body of Knowledge (PMBOK), published by the Project Management Institute (PMI), is a book that lists accepted terms, best practices, and procedural rules for project management. Project management is the practice of starting, planning, carrying out, controlling, and wrapping up a team's work to accomplish specific goals and success standards.
It takes the application of information, skills, tools, and processes to project activities in order to meet the project's requirements. In the given case, the project manager for Johnson Keyboards, Inc must understand that not all processes and procedures in the PMBOK guide are required on all projects. Thus, further decisions on the project must be taken on this basis only.
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