Under the 7-to-1 rule, the maximum salary that would be paid to the highest-paid manager is $105,000.
Data and Calculations:
Lowest-paid employee's annual earnings =$15,000
Maximum-Minimum Salary Rule = 7-to-1
The maximum salary paid to the highest-paid manager = $105,000 ($15,000 x 7).
Thus, the maximum salary paid to the highest-paid manager under the company's 7-to-1 rule is $105,000.
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Answer:
The correct answer is letter "A": the five forces framework.
Explanation:
Porter's Five (5) Forces is an analysis scheme created by American economist Michael E. Porter (<em>born in 1947</em>). The ultimate goal of this analysis is to help managers set their expectations of profitability because as competition increases, profitability decreases. Three of the five forces relate to those involved in the industry. The other two apply to the suppliers, the vertical participants, and consumers.
Answer:
The market supply curve shows the minimum prices that all the sellers in the market will be willing to accept for the product.
Explanation:
The market supply curve of a product is the summation of individual supply curves. It represents the minimum acceptable prices of the product that all the firms in the market will be willing to accept.
The market supply curve is an upward line representing the law of supply. The law of supply states that other things being constant the supply of a product will be directly related to its price. this means that with an increase in the price level, the output level will increase as well.
Answer:
$6,000 Decrease
Explanation:
Sales$150,000
Calculation to determine the financial advantage (disadvantage) from discontinuing the production and sale of Doombugs would be:
First step is to calculate the Profit from Doombugs
Sales 150,000
Less Variable expenses 120,000
Contribution margin 30,000
Avoidable fixed expenses 8,000
Profit from Doombugs $22,000
Now let calculate the financial advantage (disadvantage)
Financial advantage (disadvantage)=-$22,000+$16,000
Financial advantage (disadvantage)=-$6,000 Decrease
Therefore the financial advantage (disadvantage) from discontinuing the production and sale of Doombugs would be:$6,000 Decrease
Nominal GDP and Real GDP are described below
Explanation:
The nominal value of a good is its value in terms of money. The real value is its value in terms of some other good, service, or bundle of goods.
Examples:
Nominal: That CD costs $18. Japan’s science and technology spending is about 3 trillion yen per year.
Real: A year of college costs about the value of a Toyota Camry. Those tickets to see Van Halen cost me three weeks’ worth of food!
2.Nominal GDP is the market value of goods and services produced in an economy, unadjusted for inflation. Real GDP is nominal GDP, adjusted for inflation to reflect changes in real output. Trends in the GDP deflator are similar to changes in the Consumer Price Index, which is a different way of measuring inflation.
3.. Therefore, nominal GDP will include all of the changes in market prices that have occurred during the current year due to inflation or deflation. ... In order to abstract from changes in the overall price level, another measure of GDP called real GDP is often used.
4.The main difference between nominal GDP and real GDP is the adjustment for inflation. Since nominal GDP is calculated using current prices it does not require any adjustments for inflation. This makes comparisons from quarter to quarter and year to year much simpler to calculate and analyze.
5.Real Gross Domestic Product or real GDP is a measure of the value of economic output like inflation or deflation of prices . Nominal GDP on the other hand is a figure which has not been adjusted for any inflation.
