3. If you had $20 000 in your retirement bank account and (through your investments) your assumed compounded growth rate was 7%, how much money would you have saved over the course of your working lif

Hello! I'd be happy to help with your question. Task 3: European Economic and Monetary Union (EMU)3a) List the Maastricht criteria and explain each one. The Maastricht criteria, also known as the convergence criteria, are a set of financial and economic standards established by the Treaty of Maastricht.

The Maastricht criteria have been established to assess if a nation is eligible to join the European Monetary Union.1. Price Stability: The rate of inflation of a country cannot exceed 1.5% of the average inflation rate of the 3 European Union countries with the lowest inflation rate.2. Fiscal Deficit: The budget deficit cannot exceed 3% of Gross Domestic Product (GDP) in a given year.3. Public Debt: Public debt should not exceed 60% of GDP.4. Exchange Rate Stability: The applicant must have experienced no major exchange rate fluctuations for two years preceding the application.

Long-term Interest Rates: Long-term interest rates must not exceed the average rate of the three lowest-performing countries by more than two percent.3b) What is the fundamental difference between the EMS and the EMU?The European Monetary System (EMS) was created in 1979 with the goal of coordinating European countries' currency values. The EMS was a precursor to the European Monetary Union, which was founded with the Maastricht Treaty in 1993, but it lacked a single currency.The fundamental distinction between the EMS and the EMU is that the EMS is a mechanism for exchange rate stability between European Union (EU) member states' currencies, while the EMU is a complete monetary union with a single currency, central bank, and monetary policy.3c) How successful do you believe the EMU has been?The EMU, in my opinion, has been successful in achieving its primary goal, which was to create a monetary union and a single currency. The euro has grown to become the world's second-most-traded currency, and its usage has increased significantly since its introduction in 1999.However, the EMU's economic and monetary policies have been severely tested by a number of crises, including the global financial crisis of 2008-09 and the European sovereign debt crisis of 2010-12. Furthermore, some scholars have argued that the EMU's economic and monetary policy framework has resulted in greater economic inequality and divergences in economic performance between countries, which has made it more difficult to achieve its overall objectives.

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The market for CDOs, the outcome of a "lemon" problem might become apparent if a large fraction of individuals defaults on their university tuition loans, home loans, and other types of loans is the answer.

The "markets for lemons" is a term used to explain how adverse selection can result in market failure. In a market with lemons, poor-quality goods flood the market because there is no efficient method to differentiate between high- and low-quality goods. Suppose a large number of market participants own collateralized debt obligations (CDOs) that are backed by various types and quality of loans. In the case of the market for CDOs, the outcome of a "lemon" problem might become apparent if a large fraction of individuals defaults on their university tuition loans, home loans, and other types of loans.

A large number of defaults lowers the value of the CDOs and, as a result, the market becomes frozen. Lenders provide loans to a diverse group of individuals, including people with strong and poor credit scores. As a result, the pool of assets underlying the CDOs contains a variety of loan qualities. When a large fraction of individuals defaults, the credit quality of the assets in the CDOs is lowered, causing the market for CDOs to freeze up. When individuals are unable to make their payments on time or default on their loans, it becomes evident that the market for CDOs is impaired, resulting in the entire system's malfunction.

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The preparation of financial reports on the enterprise for use by both internal and external parties is called financial accounting. The correct option is C. Financial accounting.

Financial accounting is the process of producing financial statements that show the financial activities of a company to external stakeholders such as investors, creditors, and regulatory authorities. This type of accounting is concerned with the creation of financial reports to be used by external parties, such as stockholders and regulators.

Financial accounting is used to create financial statements that report on a company's financial performance over a specified period. The purpose of financial accounting is to give accurate and timely information to interested parties about a company's financial performance and condition. Thus, the correct option is C. Financial accounting.

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Great Eastern is one of the oldest life insurance companies in Asia. Despite this, it is not immune to the challenges of its life insurance service intangibility. Intangibility is a term used to describe the inability to touch or feel the service being offered. To overcome this, Great Eastern uses tangible cues in its advertisement.

Some of the cues the company uses include brochures and flyers, which are delivered to customers, allowing them to read through the contents of the company’s products at their convenience.Tangible cues are also employed in the company’s marketing campaigns. The company’s advertisements feature a range of images and designs that help to bring the intangible services on offer to life. Great Eastern also uses branding, which serves as a tangible cue. It uses its logo, colors, and other unique designs to provide a tangible representation of the intangible service being offered.

This creates a mental picture of the services offered, making it easier for customers to understand and appreciate the service’s value.Because life insurance is a highly personal and emotional service, Great Eastern uses testimonials as tangible cues. Testimonials from satisfied customers help to create a connection with potential customers, as they can relate to the experiences of other clients who have used the company's services.To sum up, Great Eastern uses tangible cues in its advertisements to help overcome the challenges of intangibility. These cues include brochures, flyers, marketing campaigns, branding, and testimonials.

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Dolly’s Diamond Mines in problem 1 has the following total cost schedule: Output (diamonds per day)Total Cost (dollars per day) 0100 1100 2100 3600 41000 51400 61800 72200 82600 93000 To calculate the profit-maximizing levels of output and price, we need to first calculate the total revenue and profit.

Total revenue (TR) can be calculated by multiplying the output (Q) and price (P): TR = Q x P Economic profit is calculated by subtracting total cost (TC) from total revenue (TR): Economic profit = TR - TC.1. To find the profit-maximizing level of output, we need to calculate the marginal revenue (MR) and marginal cost (MC) at each output level. MR is the change in total revenue that results from producing one more unit of output, while MC is the change in total cost that results from producing one more unit of output.

Output (diamonds per day)Total Cost (dollars per day)Marginal Cost (dollars per diamond)Total Revenue (dollars per day)Marginal Revenue (dollars per diamond) 0100-0100- 1100-1100- 2100-2100- 3600-150120300 41000-400800400 51400-2001100500 61800-200960200 72200-200660100 82600-20052080 93000-20036090 At output levels of 0 and 1, the marginal revenue is zero because there is no increase in total revenue from producing an additional unit of output. At output levels of 2 to 9, the marginal revenue is positive, but it decreases as output increases.

This is because as more diamonds are produced, the price of diamonds decreases. At an output level of 6, the marginal revenue is equal to the marginal cost, so this is the profit-maximizing level of output.

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The payoff matrix for the game is:
TCCC\PSC      Advertise       Not Advertise    
    Advertise           2,000             5,000
   Not Advertise       4,000             3,000

Explanation:In the given scenario, there are two companies: TCCC and PSC and the soft drink market is worth $6 billion. Each firm can decide whether to advertise or not. However, advertising cost is $1 billion for any company taking this step. Advertising will create only negligible new demand as the market is already saturated. Therefore, for the purpose of this question, assume that the market remains at $6 billion regardless of advertising. Let's assume that one firm advertises, and the other does not. In this case, the company that advertises will capture the whole market. Suppose both firms advertise, TCCC will capture 60% of the market, and PSC will capture 40% of the market. If neither company advertises, the market will be split 60:40, with TCCC getting 60% of the market, and PSC getting 40% of the market.The Payoff Matrix for the game where each player's payoff is equal to the value of the market it captures less the cost of advertisement is as follows:

  TCCC\PSC          Advertise           Not Advertise    
    Advertise             2,000              5,000
   Not Advertise        4,000               3,000Thus, the given is the Payoff Matrix for the game where each player's payoff is equal to the value of the market it captures less the cost of advertisement.

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The yield to maturity is 10%.

To calculate the yield to maturity (YTM) of a bond, you want to consider the price tag, face esteem, coupon payments, and the time to maturity. In this case, we have:

Purchase price (P) = $800

Face esteem (F) = $1,000

Yearly coupon installment (C) = $70

Number of years to development (n) = 10

To compute the YTM, we can utilize the recipe:

YTM = [(C + (F - P)/n)/((F + P)/2)] * 100 percent

We should connect the qualities:

YTM = [(70 + (1,000 - 800)/10)/((1,000 + 800)/2)] * 100 percent

Working on the situation:

YTM = [(70 + 20)/900] * 100 percent

YTM = (90/900) * 100 percent

YTM = 0.1 * 100 percent

YTM = 10%

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The two main benefits of utilizing the insights page are insights can be used to understand emerging search trends and new converting audiences and insights can be used for purposes of optimizing search campaigns.

The insights page is the page that gives you a detailed view of your account performance. It provides a detailed view of how your account is performing and enables you to see trends over time. You can use insights to optimize your account performance by identifying issues and opportunities.

What are the main benefits of utilizing the insights page.The following are the two main benefits of utilizing the insights page:Insights can be used to understand emerging search trends and new converting audiences Insights can be used for purposes of optimizing search campaigns

Hence, the correct options are:insights can be used to understand emerging search trends and new converting audiences.insights can be used for purposes of optimizing search campaigns.

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Acceptance sampling is the application of statistical techniques to determine if a quantity of material from a supplier should be accepted or rejected. The correct option is A.

Acceptance sampling is a widely used quality control technique that involves inspecting a sample from a larger batch or lot to make a decision about accepting or rejecting the entire batch. It is based on the principle that it is often impractical or too costly to inspect every single item in a large batch. By inspecting a representative sample, statistical techniques are applied to make inferences about the quality of the entire batch.

Option B, "Acceptance sampling eliminates the chance of accepting bad-quality materials," is not true. Acceptance sampling does not guarantee that bad-quality materials will be completely eliminated. It provides a statistical framework to make decisions about accepting or rejecting a batch based on the quality of the sample. There is always a possibility of some bad-quality items being accepted or good-quality items being rejected due to the inherent sampling and statistical nature of the process.

Option C, "Acceptance sampling limits the seller's risk of producing poor-quality materials," is also not true. Acceptance sampling primarily focuses on the buyer's perspective in assessing the quality of materials received from a supplier. It helps the buyer assess the quality of incoming materials and make decisions about accepting or rejecting them. It is not directly aimed at limiting the seller's risk of producing poor-quality materials.

Therefore, the correct answer is option A: "Acceptance sampling is the application of statistical techniques to determine if a quantity of material from a supplier should be accepted or rejected."

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Life Lesson #1 is "Proper Planning Prevents Poor Performance."

The SIX P's of life are Prior, Proper, Planning, Prevents, Poor, Performance. It means that if you are well planned and have prepared for everything, then you are unlikely to make mistakes or fall behind. The following are the SIX P's of life:

Prior: The first P stands for Prior. It means to prioritize things that are important in life. Before you start anything, make sure you know what you want to achieve and set priorities. Knowing your priorities will help you manage your time and focus on important tasks.Proper: Proper is the second P in the series.

It means to ensure that you have the necessary skills, resources, and tools to complete a job. Proper preparation is essential for achieving success.Planning: Planning is the third P. Planning involves breaking down your objectives into smaller, more manageable tasks. When you break things down into smaller steps, it becomes much easier to achieve your objectives.

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The best way for Sal, the owner of Sal's Drugstore, to obtain additional business capital while maintaining control over his business is by option C) borrowing funds.

When Sal borrows money to finance his business, he is not required to give up a share of ownership in exchange for the money. In contrast, forming a corporation and issuing stock will require him to surrender a part of his ownership in the company to shareholders.

This option gives him the power to manage his business entirely, without interference from any partners. Additionally, Sal will not be required to pay dividends to anyone, unlike if he forms a corporation and issues stocks to the shareholders. Hence, the best option for Sal is to borrow money, which is an appropriate and beneficial way of raising business capital while keeping control of his business.

However, it's important to note that borrowing money comes with a risk as interest rates might change, so Sal will need to have a repayment plan that guarantees the safe repayment of the borrowed funds. Sal will need to be able to use the borrowed funds to expand his business, boost profits, and then repay the borrowed funds.

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Lindahl’s Individualized pricing system has relevance in the allocation of a public good in a Ghanaian local community because it presents a more efficient and effective mechanism for generating revenues to support the production of public goods by enabling users to self-select based on their willingness to pay.

According to Lindahl, each individual pays a contribution that reflects the marginal cost of the good consumed by the community. Lindahl's contribution principle is that an individual pays a charge equivalent to the social marginal cost of the good consumed.In Ghanaian local communities, one of the main challenges associated with Lindahl's Individualized pricing system in the provision of public goods is that low-income earners are unlikely to be able to afford to pay their marginal costs, which could result in inequitable allocation of the public good.Moreover, the system is difficult to administer in a situation where the cost of collecting contributions exceeds the revenue generated by the system. Lindahl's system requires information regarding each individual's willingness to pay, but this information may be difficult to obtain.In instances where the private market forces are likely to solve the challenges of local public goods provision, the market forces of demand and supply may solve the issues related to the provision of public goods in a Ghanaian local community.Private goods are scarce and are subject to the market forces of supply and demand, which implies that buyers pay for the goods and sellers are compensated for their efforts in producing them. However, public goods are non-rival and non-excludable and, therefore, cannot be efficiently provided by the private sector.

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The payback period is approximately 3 years and 2 months

The discounted payback period is approximately 4 years and 5.3 months.

Given:

WACC: 8.96%

Year 0: -$1,800

Year 1: $750

Year 2: $600

Year 3: $550

Year 4: $400

Step 1: Calculate the cumulative cash flows:

Year 0: -$1,800

Year 1: -$1,800 + $750 = -$1,050

Year 2: -$1,050 + $600 = -$450

Year 3: -$450 + $550 = $100

Year 4: $100 + $400 = $500

Step 2: Calculate the payback period:

The payback period is the number of years it takes to recover the initial investment. In this case, the initial investment is $1,800. To determine the payback period, we find the year in which the cumulative cash flows become positive.

The cumulative cash flow is positive in Year 3. However, there is a remaining cash flow of $100 in Year 3 that needs to be recovered. To calculate the fractional payback period:

Fractional Payback Period = (Number of years) + (Remaining cash flow / Cash flow in the next year)

Fractional Payback Period = 3 + (100 / 550) = 3.18 years

Therefore, the payback period is approximately 3 years and 2 months.

Step 3: Calculate the discounted cash flows:

To calculate the discounted cash flows, we multiply each cash flow by its present value factor, which is calculated using the WACC.

Year 0: -$1,800 / (1 + 0.0896)^0 = -$1,800

Year 1: $750 / (1 + 0.0896)^1 = $689.88

Year 2: $600 / (1 + 0.0896)^2 = $500.37

Year 3: $550 / (1 + 0.0896)^3 = $428.99

Year 4: $400 / (1 + 0.0896)^4 = $323.23

Step 4: Calculate the cumulative discounted cash flows:

Year 0: -$1,800

Year 1: -$1,800 + $689.88 = -$1,110.12

Year 2: -$1,110.12 + $500.37 = -$609.75

Year 3: -$609.75 + $428.99 = -$180.76

Year 4: -$180.76 + $323.23 = $142.47

Step 5: Calculate the discounted payback period:

Similar to the payback period, the discounted payback period is the number of years it takes to recover the initial investment using discounted cash flows. In this case, the initial investment is $1,800. We need to find the year in which the cumulative discounted cash flows become positive.

The cumulative discounted cash flow is positive in Year 4. However, there is a remaining discounted cash flow of $142.47 in Year 4 that needs to be recovered. To calculate the fractional discounted payback period:

Fractional Discounted Payback Period = (Number of years) + (Remaining discounted cash flow / Discounted cash flow in the next year)

Fractional Discounted Payback Period = 4 + (142.47 / 323.23) = 4.44 years

Therefore, the discounted payback period is approximately 4 years and 5.3 months.

To summarize:

The payback period is approximately 3 years and 2 monthS.

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Sam and Lizzy are white maize meal-mealie production duopoly companies that face a market demand function given by P = 300 − 3,  =  1 + 2.  Here, 1 denotes quantity produced by Sam and 2 denotes quantity produced by Lizzy.

Both firms have a marginal cost of R100.  a) Derivation of the equation of each firm’s reaction curve:For Sam: π1 = [P(q1+q2)-C(q1)]q1Π1 = [300 − 3(q1+q2) − 100]q1π1 = (200 − 3q1 − 3q2)q1This is Sam’s profit function. Solving for q1, we get the reaction function for Sam:q1 = (200 − 3q2)/6For Lizzy:π2 = [P(q1+q2)-C(q2)]q2Π2 = [300 − 3(q1+q2) − 100]q2π2 = (200 − 3q1 − 3q2)q2

This is Lizzy’s profit function. Solving for q2, we get the reaction function for Lizzy:q2 = (200 − 3q1)/6b) Finding the Cournot equilibrium quantity per company, price, profit and thereafter showing them in the graph of these curves.To find the Cournot equilibrium, we must find the point at which both firms are producing their profit-maximizing quantities simultaneously. By the reaction functions above, we have q1 = (200 − 3q2)/6 and q2 = (200 − 3q1)/6.

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Surgeon block time is a predetermined period when a surgeon can perform specific operations.

It's the period when a surgeon's availability is planned, and the schedule is created. Block time is reserved for a specific physician's use, allowing the surgeon to schedule operations with no interference from others. This ensures that physicians can perform operations at specific times that don't interfere with other scheduled surgeries or appointments. In order to maintain the surgeon block time, there are a few different strategies that hospitals and surgical centers employ.The most common method is for the hospital to appoint a scheduling coordinator, who is responsible for allocating block time to each surgeon. This is done on a first-come, first-served basis, based on the number of surgeries performed by each surgeon.

Another method is to utilize a computerized scheduling system that can automatically assign block time based on a number of different factors. This can include things like the surgeon's schedule, the complexity of the procedure, and the availability of other surgical staff. In addition to these methods, some hospitals also use a lottery system to allocate block time. This involves randomly selecting a certain number of surgeons to receive block time, regardless of their previous experience or performance. Ultimately, the goal of maintaining surgeon block time is to ensure that surgeons have the necessary resources and time to perform operations at the highest level of quality.

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The prices of the three bonds, priced to yield 8.3% to maturity, are as follows:

- The zero-coupon bond is priced at $609.05.

- The bond with an 8.3% coupon rate is priced at $1,000.

- The bond with a 10.3% coupon rate is priced at $1,251.21.

When all three bonds are priced to yield 8.3% to maturity, the zero-coupon bond, with its single $1,000 payment at maturity, is priced at $609.05.

The bond with an 8.3% coupon rate, paying an annual coupon of $83, is priced at its face value of $1,000. The bond with a 10.3% coupon rate, paying an annual coupon of $103, is priced higher at $1,251.21.

The difference in prices is due to the higher coupon payment of the third bond. Investors seeking higher current income may prefer the bond with the higher coupon rate.

However, it's important to note that the higher coupon payment comes with a higher price, which may affect the overall yield-to-maturity.

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The amount of annuity that a person can get semi-annually from the bank for 8 years starting 1 year after the 9th deposit is made if P10,000 is deposited each year for 9 years, and the cost of money is 14% compounded is PHP 7,542.69.

Amount of deposit each

year = P10,000Number of

years = 9 yearsNumber of semi-annual payments in

8 years =

8 x 2 = 16Semi-annual discount

rate = 14% /

2 = 7%Now, to find the future value of 9 deposits made at the end of each year, we will use the formula:

FV = PMT x [ (1 + r)n - 1 ] / rWhere,

PMT = P10,000

r = Semi-annual interest

rate = 7% = 0.07

n = Number of

payments = 9 x

2 = 18FV = 10,000 x [ (1 + 0.07)18 - 1 ] /

0.07= 10,000 x 21.8905 /

0.07= PHP 3,109,371.43Now, we will find the present value of this future amount after 1 year, i.e. at the beginning of year 10, using the formula:

PV = FV / (1 + r)nWhere,

r = Semi-annual interest

rate = 7

% = 0.07

n = Number of semi-annual

periods = 2 x

8 = 16

PV = 3,109,371.43 / (1 + 0.07)16= PHP 1,356,534.88This is the amount that the bank would need to pay at the beginning of year 10 to settle the deposits made by the customer. Now, to find the amount of annuity that the customer can get semi-annually from the bank for 8 years, we will use the formula for present value of an annuity:

PV = A x [ (1 - (1 + r)-n) / r ]Where,

PV = Present value of annuity

A = Amount of annuity

r = Semi-annual interest rate

n = Number of semi-annual periods

PV = 1,356,534.88

A = PV /

[ (1 - (1 + r)-n) / r ]= 1,356,534.88 /

[ (1 - (1 + 0.07)-16) / 0.07 ]= PHP 7,542.69Therefore, the amount of annuity that a person can get semi-annually from the bank for 8 years starting 1 year after the 9th deposit is made if P10,000 is deposited each year for 9 years, and the cost of money is 14% compounded is PHP 7,542.69.

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e. All of the above. All the options listed represent forms of competition in different market structures.

Monopoly is a term used to describe a market structure in which there is only one seller or producer of a good and there are no close substitutes. The monopolist may regulate prices and output thanks to the absence of competition.

On the other hand, a market structure that is characterized by a high number of sellers and buyers, homogeneous products, and ease of entry and departure is known as pure competition. Individual buyers or sellers have little control over market pricing in a market where there is only competition.

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a. Accounts Receivable Turnover: Year 2 = 12.33, Year 1 = 13.51

b. Days' Sales in Receivables: Year 2 = 29.6 days, Year 1 = 27.0 days

To compute the accounts receivable turnover, we can use the formula:

Accounts Receivable Turnover = Sales / Average Accounts Receivable

To calculate the average accounts receivable, we can use the formula:

Average Accounts Receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) / 2

Let's calculate the accounts receivable turnover for Year 2 and Year 1:

Year 2:

Sales = $4,095,300

Beginning Accounts Receivable = $346,750

Ending Accounts Receivable = $317,550

Average Accounts Receivable = ($346,750 + $317,550) / 2 = $332,150

Accounts Receivable Turnover (Year 2) = $4,095,300 / $332,150 ≈ 12.33

Year 1:

Sales = $4,190,565

Beginning Accounts Receivable = $302,950

Ending Accounts Receivable = $317,550

Average Accounts Receivable = ($302,950 + $317,550) / 2 = $310,250

Accounts Receivable Turnover (Year 1) = $4,190,565 / $310,250 ≈ 13.51

Now let's calculate the days' sales in receivables for Year 2 and Year 1:

Days' Sales in Receivables = 365 days / Accounts Receivable Turnover

Year 2:

Days' Sales in Receivables (Year 2) = 365 days / 12.33 ≈ 29.6 days

Year 1:

Days' Sales in Receivables (Year 1) = 365 days / 13.51 ≈ 27.0 days

Therefore, the answers are:

a. Accounts Receivable Turnover: Year 2 = 12.33, Year 1 = 13.51

b. Days' Sales in Receivables: Year 2 = 29.6 days, Year 1 = 27.0 days

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Among the provided answer choices, Pandora is a music streaming service that has been known to generate profits. Pandora offers a free tier supported by ads as well as a premium subscription service, which contributes to its revenue streams.

Profitability refers to the ability of a business or service to generate more revenue than its expenses, resulting in a net profit. In the context of music streaming services, profitability typically depends on factors such as the size of the user base, subscription rates, advertising revenue, and operational costs. Achieving profitability often requires a delicate balance between attracting and retaining users, negotiating licensing agreements with music labels, optimizing advertising strategies, and effectively managing expenses. Continuous innovation, providing unique features, and expanding the user base are key drivers for sustained profitability in the highly competitive music streaming industry.

A streaming service is profitable if it generates a profit for its shareholders. Spotify, for example, made a profit in the last quarter of 2019, but Pandora, according to reports, is still the most profitable music streaming service. Since its inception in 2000, Pandora has been able to generate a profit, which has helped it to expand its offerings. Pandora, like most music streaming services, has a free tier with advertising as well as a subscription model that removes advertising and offers additional features. Pandora's ad revenue and subscriptions contribute to its profitability. In addition, Pandora has found ways to generate income by offering tools to musicians that help them reach their fans.

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The service industry represents about 85% of U.S. workers. The correct option is c) 85%

The service industry is a sector of the economy that includes individuals and businesses who offer services to other individuals and businesses. This includes industries such as education, healthcare, finance, retail, food service, transportation, and more

.The service industry's main characteristic is that it involves offering a service to people instead of producing goods or tangible items like manufacturers. Service providers offer intangible services like education, legal services, healthcare, entertainment, among others.

Service industries tend to focus more on customer experience, so businesses must provide high-quality service to meet customer expectations. The service sector is the largest sector of the United States economy, accounting for around 85% of the total workforce.

It is an ever-growing industry as more businesses are starting to offer their services online, including e-commerce, which has significantly boosted the sector. Many of these industries in the service sector rely heavily on technology and the internet to connect with their customers and grow their businesses.

In conclusion, the service industry is an essential component of the US economy, representing approximately 85% of the workforce. This industry is continuously growing and plays a vital role in keeping the economy running by providing essential services to individuals and businesses.

Therefore, correct option is c) 85%

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An example of target zone agreement is the European Exchange Rate Mechanism (ERM).A country can join the European Monetary Union (EMU) by fulfilling the Maastricht criteria.

A target zone agreement is a two-sided agreement whereby two or more nations' central banks work to maintain their currencies within a specific exchange rate range.

A fixed exchange rate system is a system in which the value of a currency is kept constant relative to a reference currency. Finally, a monetary union refers to a region in which two or more countries have agreed to use a single currency as a legal tender.

To put it another way, a target zone agreement is a hybrid of a fixed exchange rate system and a floating exchange rate system, while a monetary union is a different kind of agreement. It’s a permanent agreement that entails the relinquishing of the nation’s currency and monetary policy.

One well-known instance of a target zone agreement is the European Exchange Rate Mechanism (ERM). The ERM is a two-sided arrangement between member countries of the European Union (EU) that allows them to keep their currencies within a specific exchange rate range with respect to each other. The ERM began on March 13, 1979, and was meant to help maintain currency stability in the EU.

It ended when the UK government withdrew from the agreement on September 16, 1992, following an unsuccessful effort to maintain the value of the pound sterling in the agreement.The most frequent cause of target zone agreement failures is the lack of commitment by one of the parties to maintain the set exchange rate, causing the other party to lose faith in the agreement and potentially forcing it to withdraw from the agreement.

A country can join the European Monetary Union (EMU) by fulfilling the Maastricht criteria. The criteria are: sound fiscal policy, a low budget deficit and low public debt, price stability, long-term interest rates at a level similar to that of other countries, and the independence of the central bank.

The European Central Bank (ECB) is in charge of monetary policy in the currency area. It establishes interest rates, conducts open market operations, and oversees the money supply. The goal of the ECB is to maintain price stability in the region by keeping inflation rates below, but close to, 2 percent per year.

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Bunnell Corporation is a manufacturer that uses job-order costing.

On January 1, the company had the following inventory balances: raw materials $79,000, work in process $25,600, and finished goods $37,200.

The company applies overhead cost to jobs at a rate of $12.25 per direct labor-hour.

During the year, the company incurred the following costs: raw materials purchases $690,000, direct labor $440,000, indirect labor $150,000, selling and administrative salaries $260,000, selling and administrative expenses $462,000, and manufacturing overhead $340,000.

The company worked 41,000 direct labor-hours during the year. Jobs costing $1,542,950 were completed during the year.

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If a bank uses $200 of excess reserves to make a new loan when the reserve ratio is 15 percent, this action by itself initially makes the money supply increase by $1,333.33.

The reserve ratio is defined as the ratio of reserves to deposits. If the reserve ratio is 15 percent, the bank must hold 15 percent of its deposits as reserves. If the bank has excess reserves, it can use them to make new loans. The reserve requirement is the ratio of reserves to deposits. The reserve requirement is usually set by the central bank of a country to control the money supply.

Banks must hold a certain amount of reserves, either as vault cash or on deposit with the central bank, to ensure that they can meet the demands of depositors if they need to withdraw their money. The money multiplier is the amount by which the money supply is increased for every dollar increase in reserves. The money multiplier is calculated as follows:

Money multiplier = 1 / reserve ratio

Suppose that the reserve ratio is 15 percent, and a bank has excess reserves of $200. The bank can use these excess reserves to make a new loan, which increases the money supply. The initial increase in the money supply is given by the money multiplier times the increase in reserves:

Initial increase in money supply = Money multiplier × Increase in reserves

Initial increase in money supply = 1 / 0.15 × $200

Initial increase in money supply = $1,333.33

Therefore, if a bank uses $200 of excess reserves to make a new loan when the reserve ratio is 15 percent, this action by itself initially makes the money supply increase by $1,333.33.

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The total amount of money needed to buy 300 shares of Pfizer Incorporated (PFE) which trades at $38.22 including the commission charged by the discount brokerage firm is $14,046.

To calculate the cost of 1 share, we will multiply the number of shares by the price of 1 share.

Cost of 1 share = $38.22 × 1= $38.22

To calculate the cost of 300 shares, we will multiply the cost of 1 share by the number of shares.Cost of 300 shares = $38.22 × 300= $11,466

Therefore, the cost of buying 300 shares of Pfizer Incorporated (PFE) which trades at $38.22 is $11,466.

As we know, that the discount brokerage firm charges $8.60 per stock trade. Therefore, the total amount of money needed to buy 300 shares of Pfizer Incorporated (PFE) which trades at $38.22 including the commission charged by the discount brokerage firm is:

Total cost = cost of shares + commission

Total cost = $11,466 + (300 × $8.60)

Total cost = $11,466 + $2,580

Total cost = $14,046

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In the case of Atlantic Richfield Co. v. State of Washington, 557 F. Supp. 1240 (W.D. Wash. 1983), the court decided that the federal Ports and Waterways Safety Act preempted the state of Washington's statute that established different designs, smaller lengths, and smaller sizes for oil tankers entering Puget Sound.

Hence, the state statute was declared unconstitutional. Why the result was declared unconstitutional?The reason behind this is that Congress enacted a federal statute called the Ports and Waterways Safety Act that established uniform standards for the operation of boats on inland waterways in the United States. The Act coordinated its provisions with those of foreign countries so that there was a uniform body of international rules that applied to vessels that traveled between countries.

In pursuant to the act, a federal rule was adopted that regulated the design, length, and size of oil tankers, some of which traveled the waters of the Puget Sound area in the state of Washington. Later, the state of Washington enacted a statute that established different designs, smaller lengths, and smaller sizes for oil tankers entering Puget Sound. This means that Washington State regulation conflicts with the federal regulation under the Port and Waterways Safety Act.ARCO sued the State of Washington to have the state statute declared unconstitutional. Hence, the court held that federal law preempts the state law. Therefore, the State of Washington statute was declared unconstitutional.

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The Cost of Goods Sold (COGS) for the year is $928,000.

Cost of goods sold (COGS) is defined as the direct cost associated with the production of the goods sold by a company. COGS is the cost of materials and labor, but not the indirect costs such as marketing and distribution expenses. It is important to note that the inventory accounts at the beginning and end of the accounting period, as well as any purchases during that period, are used to compute the COGS of the company.

In this scenario, Bristol Retail Group's COGS would be determined as follows: COGS = Beginning Inventory + Purchases - Ending Inventory Where, Beginning Inventory = $57,000

Purchases = $212,000 + $132,000 + $162,000 + $412,000 = $918,000

Ending Inventory = $47,000Substituting these values in the above equation,

COGS = $57,000 + $918,000 - $47,000 = $928,000

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Increased aggregate demand in the economy, leading to higher prices. Thus, lowering interest rates, while useful in times of economic slowdown, can lead to inflation.

The Bank of Canada is responsible for making monetary policy decisions in the country. The bank's desire to prevent high interest rates can lead to inflation in the following ways. The Bank of Canada aims to control inflation by maintaining interest rates at an optimal level.

When inflation is high, the bank raises interest rates to make borrowing more expensive, reducing the money supply in the economy, which reduces demand. This helps to stabilize prices.However, when the bank wants to reduce interest rates to stimulate the economy, this can lead to inflation. To reduce interest rates, the bank buys government bonds from banks, increasing the money supply in the economy.

As the money supply increases, the value of money decreases, leading to an increase in prices in the economy. This is known as demand-pull inflation.Reducing interest rates increases investment, which increases aggregate demand, leading to higher prices. When interest rates are lower, borrowing becomes cheaper, and people and companies borrow more to invest.

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The reorder point is 188 units.

Reorder Point: 188 units, The reorder point is the level of inventory at which an order must be put for replenishment to prevent a stockout (a zero inventory level).

The formula for calculating reorder point is given as:

Reorder point = Average daily demand x lead time + safety stock level

Average daily demand = Annual demand/number of working days

= 4881/200

= 24.4 units

Lead time = 7 days,

Safety stock = (maximum usage rate – average usage rate) x lead time

= (Maximum daily demand - average daily demand) x lead time/working days

= (1.5 x 24.4 - 24.4) x 7/200

= 0.51 (or 1) units

Reorder point = 24.4 x 7 + 1

= 188 (rounded off to nearest unit) units

Therefore, the reorder point is 188 units.

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Experiments are not a qualitative method for data collection. Therefore, option C is correct.

Experiments are not a qualitative method for data collection. They are quantitative research methods that aim to establish cause-and-effect relationships between variables by manipulating and controlling independent variables and measuring the resulting changes in dependent variables. Experiments involve structured procedures, data collection instruments, and statistical analysis to test hypotheses and draw conclusions based on numerical data.

On the other hand, qualitative methods are used to gather non-numerical data, focusing on in-depth understanding, interpretation, and exploration of phenomena from the perspectives of participants. They involve gathering rich, descriptive data through techniques such as interviews, observations, ethnographic research, and focus groups.

A) Depth interviews: These are one-on-one interviews conducted with individuals to gather detailed and in-depth information about their experiences, opinions, and perspectives.

B) Observation research: This method involves observing and documenting behaviors, interactions, and phenomena in their natural settings to gain insights and understanding.

D) Ethnographic research: This approach involves immersing researchers in the culture and context of a specific group or community to observe and understand their behaviors, beliefs, and practices.

E) Focus groups: These are group discussions conducted with a small number of participants to explore their perceptions, attitudes, and experiences on a specific topic.

Experiments are not a qualitative method for data collection. They are quantitative research methods that aim to establish cause-and-effect relationships through structured procedures and statistical analysis. Qualitative methods, such as depth interviews, observation research, ethnographic research, and focus groups, are used to gather rich, descriptive data and gain in-depth understanding and insights from the perspectives of participants.

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