A+ Answers of the following Questions

1. Contrast the market demand/supply curves and the individual firm’s labor supply/demand curve in a perfectly competitive labor market. How does the law of diminishing marginal returns affect a firm’s demand for labor?

2. Law enforcement officers are tasked with the responsibility of keeping citizens in their community safe from criminal activity. This includes ensuring that the rights of individuals are not violated. 
Have the courts provided adequate protection to citizens against officers who have exceeded their authority? Explain.
In which areas of search and seizure do feel that the courts have not gone far enough? Support your position.
In which areas do you feel that the courts have gone too far? Support your position.

3. The manager at a hotel claims that the average occupancy of the rooms at the hotel during the Christmas season is more than 80%. Room occupancy records from the last 8 seasons shows an average occupancy of 83%. Is the manager's claim valid at the 5% level of significance?

1. Is Capitalism good for the poor?

2. Contrast the market demand/supply curves and the individual firm’s labor supply/demand curve in a perfectly competitive labor market. How does the law of diminishing marginal returns affect a firm’s demand for labor?

1. According to Freud, the _______ works to reconcile the demands of the _______ and the _______.
A. id; ego; superego
B. superego; id; ego
C. ego; id; superego
D. id; conscience; subconscience 

2. What is an advantage of a cross-sectional design?
A. Researchers need not be concerned about practice effects. 
B. Validity isn’t threatened by cohort effects.
C. The effects of early experience on later development can be examined.
D. It’s an efficient strategy for examining individual development. 

3. Research on the importance of early experiences for children’s intellectual development played a major role in the founding of
A. the Convention on the Rights of the Child.
B. the Children’s Defense Fund.
C. Project Head Start. 
D. the National Association for the Education of Young Children.

1. This problem uses the financial statements for the Genatron Manufacturing Corporation for the years 2012 and 2011 from problem 6.
a. Calculate Genatron’s dollar amount of net working capital in each year.
Net working capital = Current assets – Current liabilities
2012: $800,000 – $330,000 = $470,000
2011: $700,000 – $270,000 = $430,000
b. Calculate the current ratio and the acid-test ratio in each year.
2012: $800,000/$330,000 = 2.42
2011: $700,000/$270,000 = 2.59
Acid-test ratio = (CA – Inventory)/CL
2012: ($800,000 – $500,000)/$330,000 = 0.91
2011: ($700,000 – $450,000)/$270,000 = 0.93
C. Calculate the average collection period and the inventory turnover ratio in each year.
Average collection period = AR/(Sales/365)
2012: $260,000/($1,500,000/365) = 63.3 days
2011: $200,000/($1,300,000/365) = 56.2 days
Inventory turnover = COGS/Inventory
2012: $900,000/$500,000 = 1.80
2011: $780,000/$450,000 = 1.73
d. What changes in the management of Genatron’s current assets seem to have occurred between the two years?


2. The Dayco Manufacturing Company had the following financial statement results for last year. Net sales were $1.2 million with net income $90,000. Total assets at year end amounted to $900,000.
a. Calculate Dayco’s asset turnover ratio and its profit margin.
Total asset turnover = Sales/TA = 1,200,000/$900,000 = 1.333
Profit margin = Net income/Sales = $90,000/$1,200,000 = 0.075 or 7.5%
b. Show how the two ratios in Part (a) can be used to determine Dayco’s rate of return on assets.
ROA = Profit margin × Total asset turnover = 7.5% × 1.333 = 10.00%
ROA = Net income/Total assets = $90,000/$900,000 = 0.10 or 10%
c. Dayco operates industry average ratios are these: Return on assets: 11 percent; Asset turnover: 2.5 times: Net profit margin: 3.6 percent. Compare Dayco’s performance against the industry.
Dayco had a higher profit margin, but a lower asset turnover. The net result on ROA was that Dayco’s return on assets was slightly above that of the industry.

1. At what age does exercise begin to result in strength in boys and girls?
A. Between ages one and two
B. Between ages three and four
C. Between ages five and six
D. Between ages six and seven

2. Athlete’s foot is an infection caused by
A. dirt.
B. poor nutrition.

C. allergic reaction.

D. fungi.

3. Temperatures in child care education settings should be set at _______ in summer and _______ in winter.
A. 55 to 65, 65 to 85
B. 60 to 63, 70 to 73
C. 68 to 72, 65 to 75
D. 72 to 80, 70 to 78