How economists are both scientists and policymakers

Develop a 1,200 college level -word report to the members of the strategic planning committee explaining the following information:

How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources.
Using the circular flow model, explain the flow of money and goods in an economy.
How the economy coordinates society’s independent economic actors.
A country’s gross domestic product (GDP) and how it is defined and calculated.
How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living.
Conclusion

Format the assignment consistent with APA guidelines.

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BUS 472 Lab Unit 1 Lab Assignment: Build the Project Plan

BUS 472 Lab Unit 1 Lab Assignment: Build the Project Plan

Project :

If you are in IT Management, is there a new software package that would improve the operation of your business? Is there a new piece of computer hardware that would improve your computer operations?

Requirements

Your Project Plan must meet the following criteria:

Write your report in essay form, using bullet points only where appropriate.

If you use outside resources (and you should!), cite your sources using APA format. This includes information that you use from your textbook as well! Use the double citation reference system: The first is a parenthetical ( ) citation in the text of the report where the research material is used. The second citation is in the References page where full reference details are given.

Use American Psychological Association (APA) style to format your paper, regardless of whether you use additional resources or not. You do NOT need an Abstract. The Overview takes the place of the Abstract. Here is a helpful link for information on APA style: https://owl.english.purdue.edu/owl/resource/560/01/

Use correct spelling, punctuation and grammar.

You report should be a minimum of 3 pages and no more than 5 pages in length including the reference page.

The content for your Project Plan should include the following:

Background Analysis/Overview of the Project

Develop a project scope write-up for the project you selected. Your write-up should explain your project concept, constraints and expectations. Concentrate on the big picture. You don’t need to go into specific details.

Objectives

Identify your goals and targets.

General Approach

Determine your Project management approach.
Supply your project constraints and/or resource requirements.

There is a sample project plan that you can follow for this report on page 67 in your textbook: Project Management: Achieving Competitive Advantage, by Jeffrey Pinto, 3rd Edition.

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On January 1, the first day of the fiscal year, Shiller Company borrowed

On January 1, the first day of the fiscal year, Shiller Company borrowed $85,000 by giving a seven-year, 7% installment note to Soros Bank. The note requires annual payments of $15,772, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $5,950 and principal repayment of $9,822.

Required:

A. Journalize the entries to record the following transactions. Refer to the Chart of Accounts for exact wording of account titles.

1. Issued the installment note for cash on the first day of the fiscal year

2. Paid the first annual payment on the note.

B. Explain how the notes payable would be reported on the balance sheet at the end of the first year.

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Emil Corp. produces and sells wind-energy-driven engines

Emil Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued $15,000,000 of 20-year, 9% callable bonds on May 1, 2016 at their face amount, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.

Journalize the entries to record the following selected transactions. Be sure to include the year in the date for the entries recording the issue and calling of the bonds. Refer to the Chart of Accounts for exact wording of account titles.

2016

May 1.Issued the bonds for cash at their face amount.

Nov. 1.Paid the interest on the bonds.

2022

Nov. 1 Called the bond issue at 96, the rate provided in the bond indenture. (Omit entry for payment of interest.)

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Galvin​, McMahon​, and Longval​, a​ partnership, is considering admitting

Galvin​, McMahon​, and Longval​, a​ partnership, is considering admitting Kramer Young as a new partner. On July 31 of the current​ year, the capital accounts of the three existing partners and their​ profit-and-loss-sharing ratio is as​ follows:

Capital Profit & Lost Sharing %

Galvin 42,000 20%

Mcmahon 84,000 25%

Longval 126,000 55%

1. Young pays Longval $ 168,000 cash to purchase Longval​’s interest.

2. Young contributes $84,000 in the​ partnership, acquiring a​ 1/4 interest in the business.

3. Young contributes $84,000 in the​ partnership, acquiring a​ 1/6 interest in the business.

4. Young contributes $84,000 in the​ partnership, acquiring a​ 1/3 interest in the business.

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A restaurant uses 5,000 quart bottles of an imported wine

Situation 7 (Inventory EOQ): A restaurant uses 5,000 quart bottles of an imported wine each year. The effervescent wine costs $3.25 per bottle and is served only in whole bottles because it loses its bubbles quickly. It costs $15 each time an order is placed, and holding costs are 25 percent of the purchase price. It takes three weeks for an order to arrive. Weekly demand is 100 bottles with a standard deviation of 35 bottles. The restaurant would like to use an inventory system that minimizes inventory cost and will provide a 95 percent service probability.

a. What is the economic quantity for the restaurant to order?

b. At what inventory level should an order be placed?

c. Explain the implications of a and b.

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Prepare a 700-word memo to yourself on critical thinking including the following

Purpose of Assignment

Critical thinking is an important part of problem solving, decision making, and everyday life. So, what is critical thinking and why is it so important?

Assignment Steps

Prepare a 700-word memo to yourself on critical thinking including the following:

Explain critical thinking.
Provide an example from your personal experience of critical thinking applied to a business decision.
Discuss the importance and benefits of using critical thinking.
Relate the importance and benefits of critical thinking to the example provided.
Discuss ways you might use critical thinking in your current job or chosen career path.

Format your assignment consistent with APA guidelines.

Sources are requirement for this assignment. Submissions that do not include the use of sources will not be accepted and will receive a Zero grade. Please format your sources according to APA standards.

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CASE 24-5 WEEK SIX CASE ASSIGNMENT (United States v. Microsoft Corporation)

WEEK SIX CASE ASSIGNMENT:  CASE 24-5

United States v. Microsoft Corporation

United States Court of Appeals for the District of Columbia Circuit 253 F.3d 34 (2001)
The authors recommend a close reading of the facts of United States v. Microsoft set out earlier in this chapter. Section 2 of the Sherman Act makes it unlawful for a firm to “monopolize.” The offense of monopolization has two elements: (1) the possession of monopoly power in the relevant market and (2) the willful acquisition or maintenance of that power as distinguished from growth or development as a consequence of a superior product, business acumen, or historic accident.

The district court found that Microsoft possessed monopoly power in the market for Intel-compatible PC operating systems. Focusing primarily on Microsoft’s efforts to suppress Netscape Navigator’s threat to its operating systems monopoly, the court also found that Microsoft maintained its power not through competition on the merits but through unlawful means. Microsoft challenged both conclusions on appeal.

Per Curiam (by the Whole Court of Appeals)

13388 U.S. 365 (1967).

We begin by considering whether Microsoft possesses monopoly power and finding that it does, we turn to the question [of] whether it maintained this power through anticompetitive means. Agreeing with the District Court that the company behaved anticompetitively and that these actions contributed to the maintenance of its monopoly power, we affirm the court’s finding of liability for monopolization.

Monopoly Power

While merely possessing monopoly power is not itself an antitrust violation, it is a necessary element of a monopolization charge. The Supreme Court has defined monopoly power as the power to control prices or exclude competition. More precisely, a firm is a monopolist if it can profitably raise prices substantially above the competitive level[;] where [there is] evidence that a firm has in fact probably done so, the existence of monopoly power is clear. Because such direct proof is only rarely available, courts more typically examine market structure in search of circumstantial evidence of monopoly power. Under this structural approach monopoly power may be inferred from a firm’s possession of a dominant share of a relevant market that is protected by entry barriers.

“Entry barriers” are factors (such as certain regulatory requirements) that prevent new rivals from timely responding to an increase in price above the competitive level.

The District Court considered these structural factors and concluded that Microsoft possesses monopoly power in a relevant market. Defining the market as Intel-compatible PC operating systems, the District Court found that Microsoft has a greater than 95% share. It also found the company’s market position protected by a substantial entry barrier.

Microsoft argues that the District Court incorrectly defined the relevant market. It also claims that there is no barrier to entry in that market. Alternatively, Microsoft argues that because the software industry is uniquely dynamic, direct proof, rather than circumstantial evidence, more appropriately indicates whether it possesses monopoly power. Rejecting each argument, we uphold the District Court’s finding of monopoly power in its entirety.

Microsoft’s pattern of exclusionary conduct could only be rational if the firm knew that it possessed monopoly power. It is to that conduct that we now turn.

Provisions in Microsoft’s agreements licensing Windows to [computer makers] reduce usage share of Netscape’s browser and, hence, protect Microsoft’s operating system monopoly.

Therefore, Microsoft’s efforts to gain market share in one market (browsers) served to meet the threat to Microsoft’s monopoly in another market (operating systems) by keeping rival browsers from gaining the critical mass of users necessary to attract developer attention away from Windows as the platform for software development.

We conclude that Microsoft’s commingling of browser and nonbrowser code has an anticompetitive effect; the commingling deters computer makers from pre-installing rival browsers, thereby reducing the rivals’ usage share and, hence, developers’ interest in rivals.

By ensuring that the majority of all [ISP] subscribers are offered [Internet Explorer] either as the default browser or as the only browser, Microsoft’s deals with the [ISP] clearly have a significant effect in preserving its monopoly.
Microsoft’s exclusive deals with the [Internet software vendors] had a substantial effect in further foreclosing rival browsers from the market.

Judgment in favor of the United States (plaintiff) affirming the U.S. District Court decision that Microsoft did possess and maintain monopoly power in the market for Intel-compatible operating systems. An appellate court reversed other holdings of the district court and remanded these matters for further proceedings.

Case Questions

1. What monopolistic acts did Microsoft do/was guilty of?
2. What did the court find was the “relevant market?”  Why were other markets deemed not relevant.
3. How did copyright and or patent law claims play a role in this case?
4. What did the various courts hold and/or find?  What was the basis for the various appeals and reversals?

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Tetley Company is considering acquiring a new machine

Tetley Company is considering acquiring a new machine. The machine would cost $120,000 and it would cost another $30,000 to modify the machine and get it installed and ready for operations.

The machine falls into class 8 with a 20% CCA rate and it would be sold after 3 years for $50,000. The machine would require an immediate increase of $8,000 in operating net working capital. The balance of operating net working capital would remain unchanged during the project and be recovered after 3 years. The machine would have no effect on revenues, however the machine is expected to save the company $62,000 per year in before-tax operating costs.

The company’s tax rate is 30%. The project has a required rate of return of 12% per year compounded annually.

What is the NPV of the project?
(Note: To get full marks you must show your work. If you are using the table approach you must show the numbers for year 0 to year 3. In addition you must show the calculation or function you used to arrive at the final answer. If you are using the formula, recipe or list approach you must show each step in the approach.)

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An inexperienced accountant prepared this condensed income

Purpose of Assignment

The purpose of this assignment is to help you become familiar with the parts of the multiple‐step income statement.

Assignment Steps

Resources: Financial Accounting: Tools for Business Decision Making

Scenario: An inexperienced accountant prepared this condensed income statement for Simon Company, a retail firm that has been in business for a number of years.

SIMON COMPANY

Income Statement

For the Year Ended December 31, 2017

Revenues

Net sales

$850,000

Other revenues

22,000

872,000

Cost of goods sold

555,000

Gross profit

317,000

Operating expenses

Selling expenses

109,000

Administrative expenses

103,000

212,000

Net earnings

$105,000

As an experienced, knowledgeable accountant, you review the statement and determine the following facts:

Net sales consist of: sales $911,000, less freight-out on merchandise sold $33,000, and sales returns and allowances $28,000.
Other revenues consist of sales discounts $18,000 and rent revenue $4,000.
Selling expenses consist of salespersons’ salaries $80,000, depreciation on equipment $10,000, advertising $13,000, and sales commissions $6,000. The commissions represent commissions paid. At December 21, $3,000 of commissions have been earned by salespersons but have not been paid. All compensation should be recorded as Salaries and Wages Expense.
Administrative expenses consist of office salaries $47,000, dividends $18,000, utilities $12,000, interest expense $2,000, and rent expense $24,000, which includes prepayments totaling $6,000 for the first quarter of 2018.

Prepare a detailed multi-step income statement with a brief explanation of 700 + words Assume a 25% tax rate.

Show your work on the Excel® spreadsheet and submit with your explanation.

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