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on 17-Feb-2017 (Fri)

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Flashcard 1425549954316

Tags
#cfa-level-1 #economics #economics-in-a-global-context #los #reading-20-international-trade-and-capital-flows
Question
If there are no restrictions on trade, then members of an open economy can buy and sell goods and services at the price prevailing in the world market, the [...]
Answer


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d>An open economy , is an economy that trades with other countries. If there are no restrictions on trade, then members of an open economy can buy and sell goods and services at the price prevailing in the world market, the world price .<html>

Original toplevel document

2.1. Basic Terminology
ods and services are produced and consumed domestically. The price of a good or service in such an economy is called its autarkic price . An autarkic economy is also known as a closed economy because it does not trade with other countries. <span>An open economy , in contrast, is an economy that trades with other countries. If there are no restrictions on trade, then members of an open economy can buy and sell goods and services at the price prevailing in the world market, the world price . An open economy can provide domestic households with a larger variety of goods and services, give domestic companies access to global markets and customers, and offer goods and services that are more competitively priced. In addition, it can offer domestic investors access to foreign capital markets, foreign assets, and greater investment opportunities. For capital intensive industries, such as automobiles and aircraft, manufacturers can take advantage of economies of scale because they have access to a much larger market. Free trade occurs when there are no government restrictions on a country’s ability to trade. Under free trade, global aggregate demand and supply determine the equilibrium quantity an







Flashcard 1438555704588

Tags
#analyst-notes #cfa-level-1 #corporate-finance #introduction #reading-35-capital-budgeting
Question
In monitoring and post-auditing decision-makers can:​


Improve forecasts (based on which good [...]).

Answer

capital budgeting decisions can be made


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he post-audit is a follow-up of capital budgeting decisions. It is a key element of capital budgeting. By comparing actual results with predicted results and then determining why differences occurred, decision-makers can: <span>Improve forecasts (based on which good capital budgeting decisions can be made). Otherwise, you will have the GIGO (garbage in, garbage out) problem. Improve operations, thus making capital decisions well-implemented. <span><body><html>

Original toplevel document

Subject 1. Capital Budgeting: Introduction
include in the capital budget. "Capital" refers to long-term assets. The "budget" is a plan which details projected cash inflows and outflows during a future period. <span>The typical steps in the capital budgeting process: Generating good investment ideas to consider. Analyzing individual proposals (forecasting cash flows, evaluating profitability, etc.). Planning the capital budget. How does the project fit within the company's overall strategies? What's the timeline and priority? Monitoring and post-auditing. The post-audit is a follow-up of capital budgeting decisions. It is a key element of capital budgeting. By comparing actual results with predicted results and then determining why differences occurred, decision-makers can: Improve forecasts (based on which good capital budgeting decisions can be made). Otherwise, you will have the GIGO (garbage in, garbage out) problem. Improve operations, thus making capital decisions well-implemented. Project classifications: Replacement projects. There are two types of replacement d







#matlab #programming
any(x) returns the scalar 1 (true) if any element of x is non-zero (true)

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#matlab #programming
all(x) returns the scalar 1 if all the elements of x are non-zero

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#matlab #programming
exist(’a’) returns 1 if a is a workspace variable. For other possible return values see help. Note that a must be enclosed in apostrophes

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#matlab #programming
find(x) returns a vector containing the subscripts of the non-zero (true) ele- ments of x

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#matlab #programming
a = a( find(a) ) removes all the zero elements from a!

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#matlab #programming
Another use of find is in finding the subscripts of the largest (or smallest) elements in a vector, when there is more than one.

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#matlab #programming
isempty(x) returns 1 if x is an empty array and 0 otherwise. An empty array has a size of 0-by-0

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#matlab #programming
isinf(x) returns 1s for the elements of x which are +Inf or −Inf, and 0s otherwise

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#matlab #programming
isnan(x) returns 1s where the elements of x are NaN and 0s otherwise. This function may be used to remove NaNs from a set of data.

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#matlab #programming
if a ~= b % wrong wrong wrong!!! statement end However this will not work, since statement will only execute if each of the cor- responding elements of a and b differ. This is where any comes in: if any(a ~= b) % right right right!!! statement end

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