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A country which does not devalue when financial markets expect it to will probably suffer: a. higher interest rates. b. a default on its national debt. c. a real appreciation for its currency. d. All of the above e. None of the above
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The following information describes a company's usage of direct labor in a recent period: Actual hours used: 41,000 Actual rate per hour: $13.00 Standard rate per hour: $12.00 Standard hours for units produced: 43,000 Required: The direct labor efficiency variance is: a. $24,000 favorable b. $24,000 unfavorable...
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A key difference between the short and long runs is that, in the long run: a. The market supply slopes more gently. b. New businesses can enter while existing businesses can exit. c. Both of the above.
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Find the area of the surface. The part of the plane x + 4y + 8z = 4 that lies in the first octant.
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How many perfect squares less than 2013 are congruent to 1 mod 4?
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The XYZ Company has provided the following information for the year 2018: Sales = $150,000 Cost of Goods Sold = $80,000 Operating Expenses (excl. depreciation) = $35,000 Depreciation = $15,000 Tax Rate = 35% Calculate the operating cash flow for the XYZ Company using the indirect method.
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A 6-month-pld infant has had watery diarrhea for 5 days; he vomited a couple times. The stools have no blood or pus. He is dehydrated. He has not been outside of Cincinnati, but two other toddlers who visited for a day are also ill. What is the most likely cause of this child's diarrhea? a. Enterovirus b. Norovirus ...
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Let $A, B$, and $C$ be three events such that $P(A) = 0.25$, $P(B) = 0.3$, $P(C) = 0.15$, $P(A \cap B) = 0.25$, $P(A \cap C) = 0.05$, $P(B \cap C) = 0$, and $P(A \cap B \cap C) = 0$. Determine $P(A \cup B \cup C)$.
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At Washington University, a double major (e.g., in computer science and economics) costs about twice as much as a single major (e.g., in computer science). Why is this the case? a. Washington University does not offer a double major. b. A single major is easier to obtain than a double major. c. Double majors make up...
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Which of the following values should be used for the t value in the formula for confidence interval? A. critical value obtained from a t distribution with n-1 degrees of freedom B. critical value obtained from a standard normal distribution with n-1 degrees of freedom C. critical value obtained from a t distribution...
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A scientist wants to give his pet lizard a continuous supply of water using a cylindrical tank with a radius of 0.77 m. The tank is to be filled with water with a density of 1000 kg/m{eq}^3 {/eq} and a pump capable of delivering 1.0 W of power to the water. The tank will also be connected to the outside with a small-d...
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Let $A$ and $B$ be $n \times n$ matrices such that $A - B$ and $AB - BA$ are invertible. Simplify the following: $(A - B)^{-1} + (AB - BA)^{-1} (A - B)^{-1}$ and $(A - B)^{-1} + (AB - BA)(A - B)^{-1}$
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How can I prove that the degree of the field extension $\mathbb{Q}(\sqrt{11},\sqrt[3]{11}):\mathbb{Q}(\sqrt{11})$ is not 2?
3
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Show that $A = \text{diag}(d_1, ..., d_n)$ is diagonalizable if and only if $d_i \neq d_j$ whenever $i \neq j$. If $A$ is diagonalizable, write down the diagonal matrix $D$ that is similar to $A$.
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A company declared a cash dividend on its common stock on December 15, Year 1, payable on January 12, Year 2. How would this dividend affect stockholders' equity on the following dates? December 15 Year 1 December 31 Year 1 January 12 Year 2 a. Decrease; no effect; decrea...
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Find the equation for the tangent plane at the point P_0(2, 1, 0) on the surface x + y + z = 3.
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Using the Integral Test, determine the convergence or divergence of the p-series for: {eq}\sum_{k=1}^{\infty} \frac{1}{k^{4/3}} {eq} The p-series converges. (Choose one) What is its upper bound (if there is no upper bound choose 'DIV' for diverges)? {eq}\int_1^{\infty} \frac{1}{x^{4/3}} dx =\rule{0.5in}{0.3pt} {/...
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The city of Austin is considering a $3 per unit tax on the consumption of gasoline by its citizens. It is estimated that for each $1 increase in the price of gasoline, the consumption of a 20-mile round trip to work will decrease by 2 miles. The elasticity of supply for gasoline in the city of Austin is known to be 0.1...
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Select all of the following that are characteristic of Keynesian theory. a. Became popular in 1776. b. "Wealth of Nations". c. Say's Law. d. Milton Friedman. e. Monetarism. f. Vertical portion of AS curve.
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The shareholders' equity section of Acme Company's balance sheets for the years ended December 31, 2013, and 2012, reported the following data: 20132012 Common stock, $1 par per share$525$500 Paid-in capital - excess of par600550 Retained earnings1,7281,680 The only changes to common shares outstanding during 2013 wer...
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Compute the derivative of $F(x)$ if $$F(x) = \int_0^{x^2} 8t \: dt$$
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On January 1, 2013, Evergreen Company leases an asset from Rocky, Inc. The asset leased is a special computer server with an estimated useful life of 6 years. The lease agreement specifies six annual payments of $220,000 beginning January 1, 2013, the inception of the lease, and at each December 31 thereafter through 2...
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What is the probability that the average time spent on the game is between 34 and 36 minutes, given a normal distribution with a mean of 42 minutes and a standard deviation of 11 minutes for the 15 student population?
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My uncle, who is always travel-ing, owns a portfolio consisting of $50,000 worth of stocks, $20,000 worth of bonds, and $100,000 in cash. He is worried about the possibility of a stock market crash that might leave him without his principal, so he has just cross-posted to three different stock forums asking for advice....
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Let {eq}z=x^{3}y-3x^{2}.{/eq} Let {eq}x=g(t), \ y=h(t).{/eq} Assume that {eq}g(1)=2, \ h(1)=3, \ g'(1)=-0.3, \ h'(1)=1.2.{/eq} Find {eq}\frac{\partial z}{\partial t}|_{t=1}.{/eq}
2.4
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The output of the program will be #include<stdio.h> int main() { char *s1 = " \n\t123456789*"; for(i=0; s1[i]!='\0'; i++) { if(s1[i] !='1' && s1[i] !='7' && s1[i] !=' ') printf("%c", s1[i]); } return 0; } A. 2345689* B. 123456789* C. 23456789* D. Error
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Show that for the straight-line depreciation method, the annual rate of return on the net investment in the asset is equal to the annual rate of depreciation.
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The weight of an organ in adult male frogs is a normally distributed variable with a mean of 300 grams and a standard deviation of 10 grams. What is the probability that the weight will be between 270 and 330 grams?
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In which of the following situations could the wages of workers increase without any increase in the overall price level? Check all that apply. A. The workers' productivity has increased. B. The workers' bargaining power has decreased. C. The supply of labor has decreased. D. Firms have increased their markup on wa...
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In the 2-factor, 2 good Heckscher-Ohlin model, an influx of workers from across the border would a. move the point of production along the production possibility curve. b. shift the production possibility curve outward, and increase the production of both goods. c. shift the production possibility outward and decrea...
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A firm using FIFO had a beginning inventory of $48,000, an ending inventory of $56,000, and a pretax income of $400,000. If it had used LIFO, its beginning inventory would have been $20,000, its ending inventory would have been $16,000, and its pretax income would have been?
$388,000
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If a project has a beta of 1.15, a risk-free rate of 5.60%, and an expected market return of 11.80%, then the expected rate of return for the project is:
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Which of the following is an example of an opportunity cost? A) cost of purchasing raw materials B) salary of current employees C) cost of future research D) salary of an alternative job
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Research on Holmes and Rahe's Social Readjustment Rating Scale suggests that _____. a. major life events that are unscheduled are no more stressful than major life events that are scheduled b. simply adding up the number of major life changes in a specific time period is the best way to measure stress c. major life ...
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You have a choice of receiving $3,150 today or $3,400 one year from today. What does the rate of return on this investment have to be to make you indifferent to these choices? A. 9% B. 7.60% C. 22.50% D. 15.00%
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The pressure drop in fully developed pipe flow is sometimes computed with the aid of a friction factor, defined by $$f = \frac{\Delta p}{\frac{1}{2} \rho V^{2}} \cdot \frac{D}{l} $$ where {eq}V {/eq} is the average velocity, {eq}D {/eq} is the pipe diameter, and {eq}C {/eq} is the length of pipe over which {eq}\D...
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As compared to a firm with low financial leverage, a firm with a high amount of financial leverage in an expanding market should have A) lower profits. B) higher profits. C) higher earnings per share. D) lower earnings per share. E) higher sales revenue.
C
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To determine the maximum growth rate a firm can achieve without issuing more common stock, one would use a calculation based on A. the internal growth rate. B. the sustainable growth rate. C. the residual dividend growth rate. D. the excess capacity growth rate.
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The exchange market is a market that focuses on A. only the buying of foreign currency. B. only the selling of foreign currency. C. the buying and selling of foreign currency. D. the buying of foreign currency, but not the selling of foreign currency.
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Find the limit: {eq}\lim_{x\rightarrow 0^+} (1 + \sin 3x)^{\frac{1}{x}} {eq}
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Fuzzy Button Clothing Company is considering expanding its production capacity with a new machine costing $778,000. The expected net cash inflows are as follows: Year Amount 1 $460,000 2 $340,000 3 $218,000 Required: Compute the machine's payback period.
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Mr. B is evaluating an investment proposal with an initial investment of $10,000 and cash flows presently valued at $8,000. The net present value of the investment is? If the required rate of return is 10%, the internal rate of return for the investment is? A) 13.67% B) 17.3% C) -20% D) +20%
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Insider Corporation has two divisions, J and K. During March, the contribution margin in Division J was $48,000. The contribution margin ratio in Division K was 40%, its sales were $143,000, and its segment margin was $50,000. The common fixed expenses in the company were $58,000, and the company's net operating income...
$35,000
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In a binomial experiment with n = 300, p = 0.5, find the probability that {eq}\hat {p} {/eq} is less than 56%.
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The introduction of e-learning systems into the old-fashioned, paper-based systems by providing online tests to measure the performance of students is an example of a. Balanced scorecard b. Balanced and unbalanced approaches c. Balanced approach d. Unbalanced approach e. Strategic control approach.
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Equipment that cost $600,000 and has accumulated depreciation of $240,000 is exchanged for equipment with a fair value of $450,000 and $30,000 cash is received. The exchange lacked commercial substance. The new equipment should be recorded at a. $450,000. b. $360,000. c. $240,000. d. $225,000.
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Determine the present value for $120,000 to be received at the end of each of 20 periods, using an interest rate of 8% compounded annually.
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The adjustment made to net income when preparing operating cash flows according to the indirect method involves which of the following items? A. Additions for items affecting net income but not recorded in the cash book. B. Deductions for items increasing net income but not recorded in the cash book. C. Additions for i...
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If Wabasso Company pays $55,000 in dividends to its corporate investor Lament Corporation (Lament owns 35% of The Wabasso Company), what entry should Lament Corporation record when it receives the dividends? a. Cash 55,000 Dividend Income 55,000 b. Cash 55,000 Investment Income 55,000 c. Cash 55,000 Investment in Wa...
c
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So $X$ is a countable compact metric space, and we want to show that $X$ has a limit point. To do that I thought that it would be good to show that any countable closed subset of $X$ has a limit point as well. So suppose $A \subset X$ is closed and countable. Then because $A$ is countable it's possible to enumerate its...
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The Smith Corporation's cost of equity is 16%, and its before-tax cost of debt is 8%. The target capital structure is 40% debt and 60% equity. What is the firm's weighted average cost of capital (WACC) if the relevant tax rate is 34%?
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Under the shadow banking system, a bank deposit is effectively similar to: A. a share of stock. B. a demand deposit with a commercial bank. C. a certificate of deposit with a commercial bank. D. a coupon in a savings bond.
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What is the probability of selecting a sample with a proportion less than 0.70 or greater than 0.80, given that 60% of all customers walk into a shoe store in the mall on the first day they visit the store and a random sample of 100 customers is taken?
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If people take cash from their checking accounts and hold it as currency, then an open market _____ in government securities by the Fed will _____ the money supply. A) sale; increase B) sale; decrease C) purchase; increase D) purchase; decrease
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Which is the first step in a structured equity security analysis and valuation? A. Prospective Analysis B. Accounting Analysis C. Financial Analysis D. Business Strategy Analysis E. Implementing Valuation Models
D
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An increase in the money supply can have a __________ on interest rates and a __________ on investment spending. A. positive; positive B. positive; negative C. negative; positive D. negative; negative
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Which of the following sets of conditions will give the most stable estimate of a population parameter? a. A small sample size and a small standard error. b. A small sample size and a large standard error. c. A large sample size and a small standard error. d. A large sample size and a large standard error. e. The ...
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Evaluate the following limit. If it does not exist, explain why. {eq}\lim_{x \rightarrow \infty} \frac{(x^2 + 2)^{1/3} - (3x^2 + 1)^{1/2}}{x^2} {/eq}
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One of the differences between Enterprise Resource Planning (ERP) and MRPII is that: A) ERP applies only to those operations that are external to the enterprise. B) ERP is linked to the external supply chain, but MRPII is not. C) ERP includes both manufacturing and service operations. D) ERP is limited to operation...
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The face value of the Treasury security that is supplied for sale by the Fed when it conducts open market purchases is referred to as the security's: a) discount. b) nominal value. c) par value. d) interest value. e) reserve value.
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Anchored expectations of inflation present a difficult problem for economic policymakers. In order to unfix expectations, policymakers often turn toward policies aimed at increasing both the supply of and demand for labor. Which of these programs is likely to achieve the desired result? a) farm subsidies in rural are...
c
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Pat Ltd produces two products, product A and product B. It uses a single plantwide predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to both products. Direct labor hours are used as the allocation base because the company has accurately determined the amount of overhead cost that i...
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The difference between absorption costing and variable costing for calculating contribution margin is (contribution margin = sales - variable costs): a. The former adds the variable portion of the fixed manufacturing overhead to the variable costs, while the latter does not. b. The latter adds the variable portion of...
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The price of a European call which expires in 6 months and has a strike price of $30 is $2.00. The underlying asset's price is $29.00 and a dividend of $0.50 is expected in 2 months and in 5 months. The term structure is flat with all risk free interest rates being 10%. What is the price of a European put option which ...
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Mitchell Company purchased equipment on January 1, 2012, at a cost of $1,200,000. The estimated useful life of the equipment is 8 years and the estimated residual value is $50,000. If the equipment is being depreciated using the straight-line method, what is the book value of the equipment on January 1, 2014? A. $1,00...
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Bride Rite Company has two service departments and two operating (production) departments. The Maintenance Department costs are allocated to the two operating departments based on the number of department hours used by each. The Payroll Department services all three of the other departments in proportion to the number ...
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At May 31, 2017, the accounts of Lopez Company show the following. 1. May 1 inventories-finished goods $14,000, work in process $17,600, and raw materials $8,400. 2. May 31 inventories-finished goods $9,600, work in process $18,000, and raw materials $8,000. 3. Debit postings to work in process were direct materials...
$156,500
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Assume that "Expenses" had a normal balance of $1,100. "Merchandise Inventory" had a normal balance of $1,500 and "Equipment" had a normal balance of $5,000. A transfer of $600 from the Equipment account to the Merchandise Inventory account would: A. increase the equipment account by $600 and decrease the merchandise ...
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Find the integral part of $\sum_{n=1}^{10^9}{n^{- \frac {2}{3}}}$. I know that $\int_{1}^{10^9}{n^{- \frac {2}{3}}}dx<\sum_{n=1}^{10^9}{n^{- \frac {2}{3}}}<1+ \int_{1}^{10^9}{n^{- \frac {2}{3}}}dx$ but how can I calculate $\int_{1}^{10^9}{n^{- \frac {2}{3}}}dx$?
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Discounted payback period Apply the discounted payback decision rule to determine whether the company should undertake the project with the following cash flows, a required return of 8%, and an initial cost of $2,600. Year | Cash flow --- | --- 1 | $1,060 2 | $920 3 | $770 4 | $540 Payback period: _____
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The {eq}6.625\% {/eq} coupon rate on the All-Magic bonds that are outstanding has changed to {eq}6.25\% {/eq}, and the yield to maturity on these bonds is now {eq}7\% {/eq}. If an investor purchased one of these bonds on January {eq}1 {/eq}, {eq}2014 {/eq}, for {eq}\$1,000.00 {/eq}, what will the investor's yield...
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The manager of the ice cream shop in problem 1 notes that you calculated the Labor-Productivity for May as 0.59. She asks you what that means. You reply: a. "For every 0.59 hours, we produce 1 unit." b. "For every dollar spent in labor, we produce 0.59 units." c. "For every hour, our total costs per unit is 0.59 do...
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Kelly Motor Company manufactures 7,500 units of a particular part. The costs to manufacture the part are as follows: Direct materials $22,500 22,500/7,500 = 3* Direct labor $30,000 30,000/7,500 = 4* Variable manufacturing overhead $7,500 7,500/7,500 = 1* Fixed manufacturing overhead $60,000 60,000/7,500 = 8* Total $1...
A
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Safford Company purchased machinery for $300,000 on January 1, 2010. Safford's accountant estimated that the machine would have a ten-year life and no salvage value. On January 1, 2012, when the book value of the machine was $210,000, Safford sold the machine for $180,000 cash. Which of the following best describes th...
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Jorge, Inc., a calendar-year accrual method corporation, signed a lease on January 1, 20X1, and received the equipment on January 15. Jorge paid $72,000 in cash and signed a note for the balance of $128,000 at an interest rate of 9%, payable in installments of $20,000 per year on January 15. On July 1, 20X2, Jorge paid...
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The market price of a bond is $1,142.29, its coupon rate is 13.5%, its face value is $1,000, and its duration is 10.45 years. If the market interest rate were to fall by 125 basis points (i.e., 1.25%), then the estimated new price of the bond is:
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Suppose the banking system does not hold excess reserves, and the public wishes to hold no currency. The banking system is composed of one commercial bank, the Central Bank, and the public. The statutory reserve ratio is 25%. The public deposits $1,000 cash into the commercial bank. As a result of this action, the comm...
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Suppose that the government wishes to balance the government budget by increasing spending. What effect will this have on saving? a. rise b. fall c. no change d. insufficient information
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Evaluate the integral {eq}\displaystyle \int_{-1}^1 \int_0^{\sqrt {1 - x^3}} x^3\ dy\ dx{/eq}.
0
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The net income for Hendrix Co. for 2014 was $67,000. Accounts payable decreased by $15,000, inventory decreased by $27,000, and Accounts Receivable increased by $25,000 during the year. There was no amortization of any type during the year. Prepare the cash flows statement using the indirect method.
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The following will result in an increase in interest rates in the U.S. except: a) when the Fed decreases the supply of money in the market. b) when there is an increase in expected future real GDP. c) when there is an increase in expected future real interest rates. d) when there is an increase in expected future i...
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Let $\omega \in \Omega^{2}(\mathbb{R}^{2n})$ be the $2$-form $\omega=dx^{1} \wedge dx^{2} + dx^{3} \wedge dx^{4} + \dots + dx^{2n-1} \wedge dx^{2n}$. I want to compute the wedge product of $\omega$ with itself $n$ times. I know that $\omega \in \Omega^{2}(\mathbb{R}^{2n})$ so $\omega \wedge\dots\wedge \omega \in \Omega...
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Which of the following is not considered to be a difference between ERM and traditional approaches to risk management? a) ERM encompasses all areas of organizational exposure to risk. b) ERM manages risks holistically as an interrelated portfolio across the organization. c) ERM is still evolving but traditional risk...
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Consider the market for which the supply function is {eq}Q^S=2P+6{/eq} and the demand function is {eq}Q^D=-p+9{/eq}. The equilibrium price in the market is {eq}p^*{/eq} = (enter your response rounded to two decimal places). The equilibrium price in the market is {eq}p^*{/eq} = _____
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On the R-S model starting from a point E, if r increases and q increases, and change in r is less than change in q, the new point will be the original point E. a. to the left below b. to the left above c. to the right below d. to the right above
d
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If the true cost of the project is 3% more than the amount appropriated, and the general manager wishes to maintain a probability of less than 5% of actual cost exceeding budget, then the appropriate z statistic value from the table of areas under the normal curve is: a. 1.88 b. 1.64 c. 1.28 d. 0.84
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The "short run" in macroeconomics is a period in which prices: A) change by a lot. B) are determined by changes in the supply. C) reflect the equilibrium price. D) do not change or change very little.
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Assume that the Fed reduces the target interest rate. If banks are simultaneously expecting an increase in the price level, they will a. reduce the money supply. b. increase the money supply. c. leave the money supply unchanged. d. None of the above is correct. The answer depends on the interaction between the Fed ...
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In the short-run, a permanent increase in the domestic money supply causes A) a greater upward shift in the DD curve than that caused by an equal, but transitory, increase. B) a smaller upward shift in the AA curve than that caused by an equal, but transitory, increase. C) a smaller downward shift in the AA curve th...
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The series $$ \lim_{n\rightarrow\infty}{\frac{n}{2}\sum_{k=1}^n\frac{1}{\left(1+\frac{k}{n}\right)^k}} $$ is equivalent to $$ \lim_{n\rightarrow\infty}{\frac{n}{2}\sum_{k=1}^n\frac{1}{\left(1+\frac{1}{\frac{n}{k}}\right)^k}} $$ By using the Squeeze theorem, show that the limit of the series is equal to 1. $$ 0\leq{\fra...
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"The portion of the peripheral nervous system that excites intestinal smooth muscle is the sympathetic nervous system" is a wrong statement because: a. it is actually visceral sensory neurons job to do that b. it is actually a cranial nerve's job to do that c. it is actually the somatic motor neuron's job to do that...
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Find the area of the region that lies inside both curves. r = sqrt(2), r = 2cos(theta)
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Which one of the following statements is false? a. It is generally advantageous for a firm to pay out cash in the form of dividends rather than repurchasing shares. b. Owners receive dividends regardless of the firm's profitability, while they receive capital gains from stock repurchases only if the repurchase drives...
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One hundred dollars is invested at the beginning of each year for six years. If the investment earns 12% compounded annually, what will be the amount in the account at the end of six years?
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Reeder Company bought a depreciable asset for $700,000. This asset had an estimated useful life of 5 years and an estimated residual value of $25,000. The double-declining-balance method of depreciation is being used. Based on this information, what is the book value of the asset at the end of the first year of its use...
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Your firm's stock is currently selling for $16.42. If you buy one share of the stock today and sell it in one year, what return will you earn if the company pays out $1 in dividends at the end of the year and reinvests $1 in additional shares? The stock is expected to be worth $17.28 at the end of the year.
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The ownership of common stock in a corporation usually carries the following rights: A. To vote for directors. B. To declare dividends. C. To share in a distribution of assets if the corporation is to be liquidated. D. Both declare dividends and share in a distribution of assets if the corporation is to be liquidat...
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I purchased a small fully depreciated personal aircraft 3 years ago. The aircraft is now obsolete and is going to be sold for $50,000. The aircraft was purchased for $100,000. What is the after-tax sale price if my marginal tax rate is 35%? a. $50,000 b. $51,500 c. $52,500 d. $48,500
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Consider an asset that costs $602,000 and is depreciated straight-line to zero over its 6-year tax life. The asset is to be used in a 5-year project; at the end of the project, the asset can be sold for $88,500. Required: Required: If the relevant tax rate is 30 percent, what is the after-tax cash flow from the sale o...
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The limit as x approaches infinity of the Taylor polynomial of degree 5 for the function ln(x + 1) around 0 is: A) 0 B) 1 C) ln(x) D) ln(x + 1) E) None of the above.
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