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discussion

Question
	
Primary Task Response:Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
There are differences between the termsleaderandleadership. There are various behavioral theories related to leadership. Kurt Lewin identified three (3) leadership styles: autocratic, democratic, and laissez-faire.
Think about a leader whom you worked with in the past, and respond to the following in discussion:
Discuss the characteristics of the leader.
Is the leader's style autocratic, democratic, or laissez-faire? Why or why not?
How does this leader help his or her followers achieve the organization’s goals?
	

Multiple Finance Qs

Question
	
Question #1: 

Determine the following based on the data provided for this debt issue:

Issued October 1, 2008, $500,000 face value, 5.5% annual coupon payable semiannual.

Bond term: 15 years

Current market bond yield January 31, 2013: 4.5%
What is the bond’s market value on January 31, 2013?

What is the return on the investment for the seller of the bond on January 31, 2013?

What is the yield to maturity for the buyer of the bond on January 31, 2013?
Question #2: 

Part I: Maxwell Inc.'s stock has a 50% chance of producing a 25% return, a 30% chance of producing a 10% return, and a 20% chance of producing a ?28% return. What is the firm's expected rate of return?
Part II: Data for Dana Industries is shown below. Now Dana acquires some risky assets that cause its beta to increase by 30%. In addition, expected inflation increases by 2.00%. What is the stock's new required rate of return?
Initial beta 1.00

Initial required return (rs) 10.20%

Market risk premium, RPM 6.00%

Percentage increase in beta 30.00%

Increase in inflation premium, IP 2.00%
Question #3: 

Part I: A stock is expected to pay a dividend of $0.75 at the end of the year.
The required rate of return is rs = 10.5%, and the expected constant growth rate is g = 6.4%.

What is the stock's current price?
Part II: If D1 = $1.25, g (which is constant) = 5.5%, and P0 = $44, what is the stock’s expected total return for the coming year?
Part III: Expected rate of return for your firm’s stock.

As of today:

Risk Free Rate (rf) = 3.0%

Market return (rm) = 11.0%

Find the current beta for the company you selected in our course and determine the Expected Rate of Return for this company.
Question #4: 

Sorensen Systems Inc. is expected to pay a $2.50 dividend at year end (D1 = $2.50), the dividend is expected to grow at a constant rate of 5.50% a year, and the common stock currently sells for $52.50 a share. The before?tax cost of debt is 7.50%, and the tax rate is 40%. The target capital structure consists of 45% debt and 55% common equity. What is the company’s WACC?
	

FEDERAL, STATE, AND LOCAL POLICYMAKERS

FEDERAL, STATE, AND LOCAL POLICYMAKERS

How can federal, state, and local policymakers work together to meet adult education and training demands?

Health Class Labs 16-19

Question
	
Health Class Labs 16-19 	
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Attachments
		
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general business data bank

Question
	


PROBLEM



 1. A snack food manufacturer buys corn for
tortilla chips from two cooperatives, one in Iowa and one in Illinois. The
price per unit of the Iowa corn is $5.50 and the price per unit of the Illinois
corn is $6.00.


 

 

 
a.
 
 

 
Define variables that would tell how many units to purchase from each
 source.
 

 

 

 
b.
 
 

 
Develop an objective function that would minimize the total cost.
 

 

 

 
c.
 
 

 
The manufacturer needs at least 12000 units of corn. The Iowa
 cooperative can supply up to 8000 units, and the Illinois cooperative must
 supply at least 6000 units. Develop constraints for these conditions.
 







 2. The relationship d = 5000- 25p describes what happens to demand (d)
as price (p) varies. Here, price can vary between $10 and $50.


 

 

 
a.
 
 

 
How many units can be sold at the $10 price? How many can be sold at
 the $50 price?
 

 

 

 
b.
 
 

 
Model the expression for total revenue.
 

 

 

 
c.
 
 

 
Consider prices of $20, $30, and $40. Which price alternative will
 maximize total revenue? What are the values for demand and revenue at this
 price?
 











 3. There is a fixed cost of $50,000 to start a
production process. Once the process has begun, the variable cost per unit is
$25. The revenue per unit is projected to be $45.


 

 

 
a.
 
 

 
Write an expression for total cost.
 

 

 

 
b.
 
 

 
Write an expression for total revenue.
 

 

 

 
c.
 
 

 
Write an expression for total profit.
 

 

 

 
d.
 
 

 
Find the break-even point.
 











 4. An author has received an advance against
royalties of $10,000. The royalty rate is $1.00 for every book sold in the
United States, and $1.35 for every book sold outside the United States. Define
variables for this problem and write an expression that could be used to
calculate the number of books to be sold to cover the advance.







 5. A university schedules summer school courses
based on anticipated enrollment. The cost for faculty compensation,
laboratories, student services, and allocated overhead for a computer class is
$8500. If students pay $420 to enroll in the course, how large would enrollment
have to be for the university to break even?





 6. As part of their application for a loan to
buy Lakeside Farm, a property they hope to develop as a bed-and-breakfast
operation, the prospective owners have projected:




 

 

 
Monthly fixed cost (loan payment, taxes, insurance, maintenance)
 
 

 
$6000
 

 

 

 
Variable cost per occupied room per night
 
 

 
$ 20
 

 

 

 
Revenue per occupied room per night
 
 

 
$ 75
 






 

 

 
a.
 
 

 
Write the expression for total cost per month. Assume 30 days per
 month.
 

 

 

 
b.
 
 

 
Write the expression for total revenue per month.
 

 

 

 
c.
 
 

 
If there are 12 guest rooms available, can they break even? What
 percentage of rooms would need to be occupied, on average, to break even?
 











 



 7. Organizers of an Internet training session
will charge participants $150 to attend. It costs $3000 to reserve the room,
hire the instructor, bring in the equipment, and advertise. Assume it costs $25
per student for the organizers to provide the course materials.


 

 

 
a.
 
 

 
How many students would have to attend for the company to break even?
 

 

 

 
b.
 
 

 
If the trainers think, realistically, that 20 people will attend, then
 what price should be charged per person for the organization to break even?
 













 8. In this portion of an Excel spreadsheet, the
user has given values for selling price, the costs, and a sample volume. Give
the cell formula for


 

 

 
a.
 
 

 
cell E12, break-even volume.
 

 

 

 
b.
 
 

 
cell E16, total revenue.
 

 

 

 
c.
 
 

 
cell E17, total cost.
 

 

 

 
d.
 
 

 
cell E19, profit/loss.
 






 

 

 

 
 

 
A
 
 

 
B
 
 

 
C
 
 

 
D
 
 

 
E
 

 

 

 
1
 
 

 

 
 

 

 
 

 

 

 

 

 
2
 
 

 

 
 

 

 
 

 

 

 

 

 
3
 
 

 

 
 

 

 
 

 

 

 

 

 
4
 
 

 
Break-even calculation
 
 

 

 

 

 

 
5
 
 

 

 
 

 

 
 

 

 

 

 

 
6
 
 

 

 
 

 
Selling price per unit
 
 

 
10
 

 

 

 
7
 
 

 

 
 

 

 
 

 

 

 

 

 
8
 
 

 

 
 

 
Costs
 
 

 

 

 

 

 
9
 
 

 

 
 

 
 Fix cost
 
 

 
8400
 

 

 

 
10
 
 

 

 
 

 
 Variable cost per unit
 
 

 
4.5
 

 

 

 
11
 
 

 

 
 

 

 
 

 

 

 

 

 
12
 
 

 

 
 

 
Break-even volume
 
 

 

 

 

 

 
13
 
 

 

 
 

 

 
 

 

 

 

 

 
14
 
 

 

 
 

 
Sample calculation
 
 

 

 

 

 

 
15
 
 

 

 
 

 
 Volume
 
 

 
2000
 

 

 

 
16
 
 

 

 
 

 
 Total revenue
 
 

 

 

 

 

 
17
 
 

 

 
 

 
 Total cost
 
 

 

 

 

 

 
18
 
 

 

 
 

 

 
 

 

 

 

 

 
19
 
 

 

 
 

 
 Profit loss
 
 

 

 









 9. A furniture store has set aside 800 square
feet to display its sofas and chairs. Each sofa utilizes 50 sq. ft. and each
chair utilizes 30 sq. ft. At least five sofas and at least five chairs are to
be displayed.


 

 

 
a.
 
 

 
Write a mathematical model representing the store's constraints.
 

 

 

 
b.
 
 

 
Suppose the profit on sofas is $200 and on chairs is $100. On a given
 day, the probability that a displayed sofa will be sold is .03 and that a
 displayed chair will be sold is .05. Mathematically model each of the
 following objectives:
 

 

 

 

 
 

 
1.
 
 

 
Maximize the total pieces of furniture displayed.
 

 

 

 

 
 

 
2.
 
 

 
Maximize the total expected number of daily sales.
 

 

 

 

 
 

 
3.
 
 

 
Maximize the total expected daily profit.
 

	

TRENDS IN ADULT EDUCATION

TRENDS IN ADULT EDUCATION

Find an article related to enrollment trends in adult education or a training setting. Write a paper that includes two to three paragraph summary of the article and an analysis of the driving forces of the enrollment trend for that particular setting

Uzi Company received a charter granting the right to issue 200,000 shares of $1 par value

Question
	
Uzi Company received a charter granting the right to issue 200,000 shares of $1 par value common stock and 10,000 shares of 8% cumulative and nonparticipating, $50 par value preferred stock that is callable at $80 per share. Selected transactions are presented below.

2011
Feb.	19	Issued 45,000 shares of common stock at par for cash.
22	Gave the corporation’s promoters 30,000 shares of common stock for their services in getting the corporation organized. The directors valued the services at $50,000.
Mar	30	Exchanged 100,000 shares of common stock for the following assets at fair market values: land, $25,000; building, $100,000; and machinery, $125,000.
Dec.	31	Closed the Income Summary account. A $25,000 loss was incurred.
2012
Jan.	12	Issued 1,000 shares of preferred stock at $75 per share.
Dec.	15	The board of directors declared an 8% dividend on preferred shares and $0.10 per share on outstanding common shares, payable on January 31 to the January 17 stockholders of record.
31	Closed the Income Summary account. A $69,000 net income was earned.
2013
Jan.	31	Paid the previously declared dividends.
Required:

Prepare general journal entries to record the selected transactions.
Prepare a stockholders’ equity section as of the close of business on December 31, 2012.
Determine the book value per preferred share and per common stock as of December 31, 2012.
Provide a rationale between 200 and 300 words in length for buying or not buying this stock based on the financial information presented.	

In a period of rising sales utilizing past cost and expense ratios

Question
	

14) In a period of rising sales utilizing past cost and expense ratios (percent-of-sales method), when preparing pro forma financial statements and planning financing, will tend to
A) understate retained earnings and understate the additional financing needed.
B) overstate retained earnings and overstate the additional financing needed.
C) understate retained earnings and overstate the financing needed.
D) overstate retained earnings and understate the financing needed.
19) The ________ rate of interest is typically the required rate of return on a three-month U.S. Treasury bill.
A) nominal
B) real
C) risk-free
D) premium

20) The cost of long-term debt generally ________ that of short-term debt.
A) is less than
B) is equal to
C) is greater than
D) has no relation to
21) If a bond pays $1,000 plus interest at maturity, $1,000 is called the
A) stated value.
B) market value.
C) par value.
D) long-term value.
23) ________ became popular vehicle used to finance mergers and takeovers during the 1980s.
A) Income bonds
B) Junk bonds
C) Floating rate bonds
D) Convertible debentures
24) An instrument that give their holders the right to purchase a certain number of shares of the firm's common stock at a specified price over a certain period of time is called
A) stock purchase warrants.
B) call feature.
C) conversion feature.
D) none of the above.
25) A ________ bond generally has an interest rate that is higher than a similar risk ________ bonds, and a ________ bond generally has an interest rate that is lower than a similar risk ________ bond.
A) callable; non-callable; convertible; non-convertible 
B) convertible; non-convertible; callable; non-callable
C) convertible; callable; non-convertible; non-callable
D) callable; non-callable; non-convertible; convertible
26) Bonds are
A) a series of short-term debt instruments.
B) a form of equity financing that pays interest.
C) long-term debt instruments.
D) a hybrid form of financing used to raise large sums of money from a diverse group of lenders.
27) Another term sometimes applied to a common shareholder is a
A) fundamental or basic owner of the firm.
B) residual owner of the firm.
C) net owner of the firm.
D) reciprocal owner of the firm.
28) ________ is hired by a firm to find prospective buyers for its new stock or bond issue.
A) A securities analyst
B) A trust officer
C) A commercial loan officer
D) Investment Banker
29) Identify whether the key characteristic describes common stock (CS) or preferred stock (PS).
__CS___ 1. Source of financing which places minimum constraints on the firm.
__PS___ 2. Used often in mergers.
___CS__ 3. Potential dilution of earnings and voting power.
__PS___ 4. Fixed financial obligation.
_CS____ 5. Increases the firm's borrowing power.
___PS__ 6. May have cumulative and participating features.
__PS___ 7. May be convertible into another type of security.
__CS___ 8. Last to receive earnings or distribution of assets in the event of bankruptcy.
___PS__ 9. Frequently includes a call feature.
30) In the Gordon model, the value of the common stock is the
A) net value of all assets which are liquidated for their exact accounting value.
B) actual amount each common stockholder would expect to receive if the firm's assets are sold, creditors and preferred stockholders are repaid, and any remaining money is divided among the common stockholders.
C) present value of a non-growing dividend stream.
D) present value of a constant, growing dividend stream
31) If expected return is less than required return on an asset, rational investors will
A) buy the asset, which will drive the price up and cause expected return to reach the level of the required return.
B) sell the asset, which will drive the price down and cause the expected return to reach the level of the required return.
C) sell the asset, which will drive the price up and cause the expected return to reach the level of the required return.
D) buy the asset, since price is expected to increase.
32) ________ is the chance of loss or the variability of returns associated with a given asset.
A) Return
B) Value
C) Risk
D) Probability
33) Risk aversion is the behavior exhibited by managers who require a (n) 
A) increase in return, for a given decrease in risk.
B) increase in return, for a given increase in risk.
C) decrease in return, for a given increase in risk.
D) decrease in return, for a given decrease in risk.
34) The ________ of an event occurring is the percentage chance of a given outcome.
A) dispersion
B) standard deviation
C) probability
D) reliability
35) The ________ measures the dispersion around the expected value.
A) coefficient of variation
B) chi square
C) mean
D) standard deviation
36) The goal of an efficient portfolio is to
A) maximize risk for a given level of return.
B) maximize risk in order to maximize profit.
C) minimize profit in order to minimize risk.
D) minimize risk for a given level of return.
	

Economics – Macroeconomics – China

Question
	
High level answers are fine - bullet points perfectly ok.
1. Consider the following statement: “China’s current account surplus implies that China has added more to global supply of output than to global demand.” Does a current account surplus necessarily imply the stated outcome for global supply and demand?
2. Explain the role of China's administered exchange rate in contributing to its trade surpluses and therefore growth in the global supply of goods relative to demand.
3. We saw that exports from China have effectively lowered relative wages for unskilled and semi-skilled workers in advanced countries. What has been the effect on wages in China? Explain these forces in terms of the "factor price equalisation theorem" in international trade theory. Do these forces also apply to other factor prices?
4. Karl Marx said in 1867 in Volume 1 of "Capital" "..commodities are only definite masses of congealed labour time". To what extent is this true of the export of goods and services rather than by importing labour directly (immigration)
5. What are the underlying forces that have accelerated the process of globalisation in recent decades and are continuing to do so?
6. What specific policies could China and the US adopt to reduce their saving-investment imbalances and therefore their current account imbalances? What political obstacles would each country face in implementing each policy?
	

economics data bank

Question
	
Multiple Choice

Identify the
choice that best completes the statement or answers the question.

____ 1. In a competitive market,
the actions of any single buyer or seller will

a. have a negligible impact on
the market price.

b. have little effect on overall
production but will ultimately change final product price.

c. cause a noticeable change in
overall production and a change in final product price.

d. adversely affect the
profitability of more than one firm in the market.

Table
14-1

Quantity Price

1 13

2 13

3 13

4 13

5 13

6 13

7 13

8 13

9 13

____ 2.Refer to Table
14-1.
The price and quantity relationship in the table is most likely that faced by a
firm in a

a. monopoly.

b. concentrated market.

c. competitive market.

d. strategic market.

____ 3. When buyers in a
competitive market take the selling price as given, they are said to be

a. market entrants.

b. monopolists.

c. free riders.

d. price takers.

____ 4. Of the following
characteristics of competitive markets, which are necessary for firms to be
price takers?

(i) There are many sellers.

(ii) Firms can freely enter or
exit the market.

(iii) Goods offered for sale are
largely the same.

a. (i) and (ii) only

b. (i) and (iii) only

c. (ii) only

d. All are necessary.

Name:
________________________ ID: A

2

____ 5. Suppose a firm in a
competitive market received $1,000 in total revenue and had a marginal revenue of
$10

for the last unit produced and
sold. What is the average revenue per unit, and how many units were sold?

a. $5 and 50

b. $5 and 100

c. $10 and 50

d. $10 and 100

____ 6. Total profit for a firm
is calculated as

a. (marginal revenue) minus
(average cost).

b. (average revenue) minus
(average cost).

c. (marginal revenue) minus
(marginal cost).

d. (price minus average cost)
times (quantity of output).

____ 7. As a general rule,
profit-maximizing producers in a competitive market produce output at a point where

a. marginal cost is increasing.

b. marginal cost is decreasing.

c. marginal revenue is
increasing.

d. price is less than marginal
revenue.

Figure
14-1

The graph below depicts the cost
structure for a firm in a competitive market.

____ 8.Refer to Figure
14-1.
When price falls from P3to P1, the firm
finds that

a. fixed cost is higher at a
production level of Q1than it is at Q3.

b. it should produce Q1
units
of output.

c. it should produce Q3
units
of output.

d. it should shut down
immediately.

____ 9. When price is greater
than marginal cost for a firm in a competitive market,

a. marginal cost must be falling.

b. the firm must be minimizing
its losses.

c. there are opportunities to
increase profit by increasing production.

d. the firm should decrease
output to maximize profit.

Name:
________________________ ID: A

3

____ 10. When a profit-maximizing
competitive firm finds itself minimizing losses because it is unable to earn a

positive profit, this task is
accomplished by producing the quantity at which price is equal to

a. sunk cost.

b. average fixed cost.

c. average variable cost.

d. marginal cost.

____ 11. In the long run, a
profit-maximizing firm will choose to exit a market when

a. average fixed cost is falling.

b. variable costs exceed sunk
costs.

c. marginal cost exceeds marginal
revenue at the current level of production.

d. total revenue is less than
total cost.

____ 12. A profit-maximizing firm
in a competitive market is currently producing 200 units of output. It has
average revenue of $9 and average total cost of $7. It follows that the firm's

a. average total cost curve
intersects the marginal cost curve at an output level of less than

200 units. b. average variable
cost curve intersects the marginal cost curve at an output level of less than
200 units.

c. profit is $400.

d. All of the above are correct.

____ 13. A profit-maximizing firm
in a competitive market is able to sell its product for $7. At its current
level of

output, the firm's average total
cost is $10. The firm’s marginal cost curve crosses its marginal revenue curve

at an output level of 9 units.
The firm experiences a

a. profit of more than $27.

b. profit of exactly $27.

c. loss of more than $27.

d. loss of exactly $27.

____ 14. The following table
gives the average total cost of production for various levels of output for a
competitive

firm:

Q ATC

0 --

1 10

2 8

3 7

4 8

5 10

If the firm's fixed cost of
production is $3 and the market price is $10, how many units should the firm
produce to maximize its profit?

a. 1

b. 2

c. 3

d. 4

Name:
________________________ ID: A

4

____ 15. Which of the following
represents the firm's short-run condition for shutting down?

a. Shut down if TR < TC

b. Shut down if TR < FC

c. Shut down if P < ATC

d. Shut down if TR < VC

____ 16. Mrs. Smith operates a
business in a competitive market. The current market price is $8.50, and at her
profit-maximizing level of production, the average variable cost is $8.00 and
the average total cost is $8.25.

a. Mrs. Smith should shut down
her business in the short run but continue to operate in the

long run..

b. Mrs. Smith should continue to
operate in the short run but shut down in the long run.

c. Mrs. Smith should continue to
operate in both the short run and long run.

d. Mrs. Smith should shut down in
both the short run and long run.

____ 17. In a competitive market
the price is $8. A typical firm in the market has ATC = $6, AVC = $5, and MC =
$8.

How much economic profit is the
firm earning in the short run?

a. $0 per unit

b. $1 per unit

c. $2 per unit

d. $3 per unit

Figure
14-6

In the figure below, panel (a)
depicts the linear marginal cost of a firm in a competitive market, and panel
(b)

depicts the linear market supply
curve for a market with a fixed number of identical firms.

____ 18.Refer to Figure
14-6.
If at a market price of $1.75, 52,500 units of output are supplied to this
market, how

many identical firms are
participating in this market?

a. 75

b. 100

c. 250

d. 300

Name:
________________________ ID: A

5

____ 19.

If the figure in panel (a) reflects
the long-run equilibrium of a profit-maximizing firm in a competitive

market, the figure in panel (b)
most likely reflects

a. perfectly inelastic long-run
market supply.

b. the idea that free entry and
exit of firms in the market lead to only one market price in

the long run.

c. the product of the individual
supply curves of all firms in the market.

d. the fact that zero profits
cannot be sustained in the long run.

____ 20. If all existing firms
and all potential firms have the same cost curves, there are no inputs in
limited quantities,

and the market is characterized
by free entry and exit, then the long-run

a. market supply curve is equal
to the sum of marginal cost.

b. supply curve for the market
must slope downward.

c. market supply curve must slope
upward.

d. supply curve for the market is
horizontal and equal to the minimum of long-run average

cost for each firm.

____ 21. When entry and exit
behavior of firms in an industry does not affect a firm's cost structure,

a. the long-run market supply
curve must be horizontal.

b. the long-run market supply
curve must be upward-sloping.

c. the long-run market supply
curve must be downward-sloping.

d. we can't tell anything about
the shape of the long-run market supply curve.

____ 22. Suppose a competitive
market is comprised of firms that face identical cost curves. The firms
experience an

increase in demand that results
in positive profits for the firms. Which of the following events are then most

likely to occur?

(i) New firms will enter the
market.

(ii) In the short run, price will
rise; in the long run, price will rise further.

(iii) In the long run, all firms
will be producing at their efficient scale.

a. (i) and (ii) only

b. (i) and (iii) only

c. (ii) and (iii) only

d. (i), (ii) and (iii)

Name: ________________________
ID: A

6

____ 23. Regardless of the cost
structure of firms in a competitive market, in the long run

a. firms will experience rising
demand for their products.

b. the marginal firm will earn
zero economic profit.

c. firms will experience a less
competitive market environment.

d. exit and entry is likely to
lead to a horizontal long-run supply curve.

____ 24. A market might have an
upward-sloping long-run supply curve if

a. firms have different costs.

b. consumers exercise market power
over producers.

c. all factors of production are
essentially available in unlimited supply.

d. the entry of new firms into
the market has no effect on the cost structure of firms in the

market.

____ 25. When new entrants into a
competitive market have higher costs than existing firms,

a. accounting profits will be the
primary determinant of entry into the market.

b. sunk costs become an important
determinant of the short-run entry strategy.

c. market price must be rising.

d. all firms will earn zero economic
profit once the new equilibrium is reached.