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Place the following steps from the five-step decision process in order: A = Make predictions about future costs B = Evaluate performance to provide feedback C = Implement the decision D = Choose an alternative

(02.01 MC) Which of the following goods would be directly counted as part of a country’s GDP?

Answer the following questions using the information below:  Hector’s Camera Shop has prepared the following flexible budget for September and is in the process of interpreting the variances.  F denotes a favorable variance and  U denotes an unfavorable variance. Flexible Budget Price Variance Efficiency Variance Material A $20,000 $1,000U $1,200F Material B 30,000 500F 800U Material C 40,000 1,400U 1,000F The actual amount spent for Material B was:

(04.01–04.07 HC)For all graphs, be sure to correctly and completely label all axes and curves and use arrows to indicate the direction of any shifts.The loanable funds market in an economy is in equilibrium.Draw a correctly labeled graph of the loanable funds market, labeling the equilibrium real interest rate and the equilibrium quantity. Show the impact of a decrease in the money supply for this economy in your graph from part (a).Will the result be a shortage or surplus in the loanable funds market at the original equilibrium? Will lenders of existing fixed-rate loans be better or worse off as a result of the change in the real interest rate?Now assume a different country is experiencing a negative output gap and its central bank uses expansionary monetary policy to address it. This economy has an ample reserves system.Illustrate the impact of this monetary action in a fully labeled reserve market graph.

(02.03 HC) The Bureau of Labor Statistics takes a survey and reports the following unemployment data: Number of Workers Classified as Employed 178 million Number of Workers Cyclically Unemployed 12 million Number of Workers Frictionally Unemployed 3 million Number of Workers Structurally Unemployed 7 million Working-age Population 300 million Based on this data, what is the natural unemployment rate in the economy?

Answer Questions 29) -31) using the information below: Joe’s Copy Center is hiring new employees. Joe knows he has to be patient with the employees until theygain enough experience to meet production standards. Joe knows that in general the first job by a new employeetakes 40 minutes, and the second job takes 24 minutes. Assume all jobs to be equal in size and all newemployees are equally capable of learning. Please use the learning curve definition instead of Ln function to deriveyour answers. What is the learning-curve percentage, assuming the Incremental Unit-Time method?

(05.06 LC) Which of the following is considered a significant cause of economic growth?

Tall Statues Inc., produces wood statues. Management has provided the following information:Actual sales30,000 statuesBudgeted production50,000 statuesSelling price$46.00 per statueDirect material costs$6.90 per statueVariable manufacturing costs$3.45 per statueVariable administrative costs$5.75 per statueFixed manufacturing overhead$4.60 per statueWhat is the total throughput contribution?

(05.03 MC) The central bank increases the money supply by 3% over a long period while the country runs at full employment. In the long run, what does the quantity theory of money say will happen?

(04.01–04.07 HC)For all graphs, be sure to correctly and completely label all axes and curves and use arrows to indicate the direction of any shifts.The loanable funds market in an economy is in equilibrium.Draw a correctly labeled graph of the loanable funds market, labeling the equilibrium real interest rate and the equilibrium quantity.Show the impact of an increase in household savings for this economy in your graph from part (a).Will the result be a shortage or surplus in the loanable funds market at the original equilibrium?Will borrowers of existing fixed-rate loans be better or worse off as a result of the change in the real interest rate?Now assume a different country is experiencing high unemployment and its central bank uses expansionary monetary policy to address it. This economy has an ample reserves system.Illustrate the impact of this monetary action in a fully labeled reserve market graph.