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- Which of the following is a major factor in determining an individual's supply of savings? A: Patience B: Investment C: GDP54. If you save more because Social Security allows you to retire earlier than you would have retired had Social Security neither taxed you nor provided you with benefits, then this is referred to by economists as the A. slovenly effect. B. bequest effect. C. induced retirement effect. D. asset substitution effect.Using the theories of consumer behavior we studied in class, in your opinion, the act of people postponing saving for retirement is an example of Select one: a. Isolation effect b. Loss aversion c. Certainty effect d. Time inconsistency or hyperbolic discounting.
- Problem 4 - Costless Magical MacGuffinConsider a consumer that lives only for two periods. He works in period 1 (and gets income Y1) and moves up thecorporate ladder in period 2 (and gets income Y1 < Y2). This consumer has the usual preferences over time: u(C1) +βu(C2)Assume this consumer cannot borrow.1. What is the consumption in period 1 and period 2? Display graphically. Show the corresponding utilitycurve.Assume that now the consumer is allowed to save or borrow.2. Write down the new budget constraint. What is the consumption in period 1 and period 2? Displaygraphically. Could the consumer be worse off? Could the consumer be better off? Draw budget constraintssuch that for one of them consumer prefers to borrow and for the other - prefers to save.Assume once again that a consumer cannot borrow, but can borrow and immediately sell some ‘MacGuffins’, and in the next period, the consumer must buy back the MacGuffins to return to the lender. Assume that MacGuffins trade at P1 >…Kevin's reference dependent utility over money is y and effort is E, refer to the: instantaneous utility function: rt: reference point for wealth, which demonstrated his recent wealth Kevin does not have from money but from gains and losses of money instead. There is no discounting, and assume that Kevin's current wealth from his job is 0. Kevin is thinking about a new role at work which allows him to increase his income by $1000 per period for two periods, counting from the current period, which is t = 0. He must undergo a training which require an effort of EO = 3500 at that value of alpha, how much ultility would Kevin lose relative to his non-projection-biased preferences if she took the position 1000 250 500 75010) How can a company benefit economically from implementing LSS? Give a specific example. 11) Explain lean thinking in your own words. 12) Does lean rely on tools or people most? Explain your response. 13) Explain what this phrase from Henry Ford means: "It's not the employer who pays the wages. Employers only handle the money. It's the customer who pays the wages." What is the implication of this statement? 14) Are quality checks considered value-added activities? Explain your response. 15) What are the three things all employees need to start a good normal day? 16) What happens if employees do not feel they are making a difference by doing a meaningful job? 17) What are the three criteria to determine if an activity is value-added? 18) What is "manufacturing insanity"? What does it mean? 19) Is it possible to eliminate ALL the waste 100%? Explain your response. 20) Explain how Mura, Muri, and Muda are formed if the demand is un-even (show and label the demand with a graph). What is…
- How does savings change with changes in y1? Provide some intuition behind this result.Alistair Byrne and Stephen P Utkus stated that Behavioural FinanceSelect one:a. is a part of finance that seeks to understand and explain the systematic financial market implications ofpsychological decision processes. b. encompasses research that drops the traditional assumptions of expected utility maximization with rationalinvestors' inefficient markets.c. is the study of the influence of psychology on the behavior of financial practitioners and the subsequenteffect on the markets.d. is an extension of behavioral economics, which uses psychological insights to inform economic theory.e. studies the psychology of financial decision-making.The consumer views present and future consumption as perfect complements and would like to consume equal amounts in both periods, i.e., . Suppose, however, that there is a credit market imperfection that prevents this consumer from borrowing at all, i.e., . a. Show the consumer's lifetime budget constraint and indifference curves on a diagram. Note that because the consumer prefers to purchase present and future consumption in equal amounts, the indifference curves will be kinked at. Note also that because the consumer cannot borrow, the budget constraint will be kinked at the consumer's initial endowment. Recall that the budget constraint is given by: Recall also that the consumer's endowment for each period can be expressed as: b. Calculate the consumer's optimal current-period and future-period consumption and optimal saving and show this in your diagram. Does the existence of the credit market imperfection affect the consumer's choices? Recall that savings is given by: c. Suppose…
- Which of the following assertions about a Whole Life insurance policy is TRUE?A. Premium payments may be increased or decreased at the premium payer's discretion.B. A person's beneficiary designation can only be changed if that individual passes a medical examination. C. The policy owner can borrow against the policy's cash value. D. In order to receive the death benefit, the specified beneficiary must provide proof of ongoing insurable interest in the insured's life.dw Explain fully what the equation says. 22. Prove that MFC = w + L-Answer in reference to managerial accounting. 1. Which of the accompanying assertion is valid. A) Elasticity of interest is constant all through the interest bend. B)Elasticity of interest increments as one goes down the interest bend. C)Elasticity of interest finishes as one goes down the interest bend. D)The slant of interest bend rises to its flexibility 2. When the pay versatility of interest for a decent is negative ,the acceptable is. A)normal great B)luxury great C)inferior great D)giffen great 3.For correlative its, the cross versality of interest will be. A)zero B) infinity C)Negative D)positive ,yet not as much as endless. 4.Which of coming up next isn't accurate. A)The law of interest says ,ceteria paribus , the lower the cost of a decent ,the more noteworthy the amount requested. B)The law of supply says ,ceteris paribus,the higher the cost of a decent ,the more noteworthy the amount provided. C)The supply bend for an exceptional short lived great is level. D)The request…