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Flashcard 1432925113612

Tags
#sister-miriam-joseph #trivium
Question
Every man, woman, tree, stone, or grain of sand is [...]
Answer
an individual.

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Every man, woman, tree, stone, or grain of sand is an individual.

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Flashcard 1434853182732

Tags
#4-3-the-investment-opportunity-set #cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-5-consumer-equilibrium #study-session-4
Question

Currently, a consumer is buying both sorbet and gelato each week. His MRSGS [marginal rate of substitution of gelato (G) for sorbet (S)] equals 0.75. The price of gelato is €1 per scoop, and the price of sorbet is €1.25 per scoop.

  • ​Explain whether the consumer should buy more sorbet or more gelato, given that he is not currently optimizing his budget.
Answer
The MRSGS is the rate at which the consumer is willing to give up sorbet to gain a small additional amount of gelato, which is 0.75 scoops of sorbet to gain one scoop of gelato. The price ratio, PG/PS (0.8), is the rate at which he must give up sorbet to gain an additional small amount of gelato. In this case, the consumer would be better off spending a little less on gelato and a little more on sorbet.

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Consumer Equilibrium Currently, a consumer is buying both sorbet and gelato each week. His MRS GS [marginal rate of substitution of gelato (G) for sorbet (S)] equals 0.75. The price of gelato is €1 per scoop, and the price of sorbet is €1.25 per scoop. Determine whether the consumer is currently optimizing his budget over these two desserts. Justify your answer. ​Explain whether the consumer should buy more sorbet or more gelato, given that he is not currently optimizing his budget. Solution to 1: In this example, the condition for consumer equilibrium is MRS GS = P G /P S . Because P G /P S = 0.8 and MRS GS = 0.75, the consumer is clearly not

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5. CONSUMER EQUILIBRIUM: MAXIMIZING UTILITY SUBJECT TO THE BUDGET CONSTRAINT
on is less than the price ratio—meaning that the price for that additional unit is above her willingness to pay. Even though she could afford bundle c, it would not be the best use of her income. EXAMPLE 5 <span>Consumer Equilibrium Currently, a consumer is buying both sorbet and gelato each week. His MRS GS [marginal rate of substitution of gelato (G) for sorbet (S)] equals 0.75. The price of gelato is €1 per scoop, and the price of sorbet is €1.25 per scoop. Determine whether the consumer is currently optimizing his budget over these two desserts. Justify your answer. Explain whether the consumer should buy more sorbet or more gelato, given that he is not currently optimizing his budget. Solution to 1: In this example, the condition for consumer equilibrium is MRS GS = P G /P S . Because P G /P S = 0.8 and MRS GS = 0.75, the consumer is clearly not allocating his budget in a way that maximizes his utility, subject to his budget constraint. Solution to 2: The MRS GS is the rate at which the consumer is willing to give up sorbet to gain a small additional amount of gelato, which is 0.75 scoops of sorbet to gain one scoop of gelato. The price ratio, P G /P S (0.8), is the rate at which he must give up sorbet to gain an additional small amount of gelato. In this case, the consumer would be better off spending a little less on gelato and a little more on sorbet. 5.2. Consumer Response to Changes in Income: Normal and Inferior Goods The consumer’s behavior is constrained by his income a






Flashcard 1441804717324

Tags
#analyst-notes #cfa-level-1 #reading-35-capital-budgeting #study-session-10
Question
A NPV profile is a graph showing the relationship between a project's [...]
Answer
NPV and the firm's cost of capital.

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A NPV profile is a graph showing the relationship between a project's NPV and the firm's cost of capital.

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Subject 4. NPV Profiles
A NPV profile is a graph showing the relationship between a project's NPV and the firm's cost of capital. The point where a project's net present value profile crosses the horizontal axis indicates a project's internal rate of return. Some observations: &#13






Flashcard 1444551200012

Tags
#cfa-level-1 #fra-introduction #reading-22-financial-statement-analysis-intro #study-session-7
Question
In general, analysts seek to examine the past and current performance and financial position of a company in order to [...].
Answer
form expectations about its future

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In general, analysts seek to examine the past and current performance and financial position of a company in order to form expectations about its future performance and financial position.

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2. SCOPE OF FINANCIAL STATEMENT ANALYSIS
d issue. Valuing a security for making an investment recommendation to others. Forecasting future net income and cash flow. These decisions demonstrate certain themes in financial analysis. <span>In general, analysts seek to examine the past and current performance and financial position of a company in order to form expectations about its future performance and financial position. Analysts are also concerned about factors that affect risks to a company’s future performance and financial position. An examination of performance can include an assessment of a compan






Flashcard 1478456904972

Tags
#cfa-level-1 #reading-25-understanding-income-statement
Question
Grouping depreciation on manufacturing equipment and depreciation on administrative facilities into a single line item called “depreciation” is an example of grouping by [...] of the expense.
Answer
grouping by nature

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Grouping together expenses such as depreciation on manufacturing equipment and depreciation on administrative facilities into a single line item called “depreciation” is an example of a grouping by nature of the expense.

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2. COMPONENTS AND FORMAT OF THE INCOME STATEMENT
t. IFRS additionally require that line items, headings, and subtotals relevant to understanding the entity’s financial performance should be presented even if not specified. Expenses may be grouped together either by their nature or function. <span>Grouping together expenses such as depreciation on manufacturing equipment and depreciation on administrative facilities into a single line item called “depreciation” is an example of a grouping by nature of the expense. An example of grouping by function would be grouping together expenses into a category such as cost of goods sold, which may include labour and material costs, depreciation, some sala






Flashcard 1621998308620

Tags
#tvm
Question
The formula for the future value of a sum in N years with continuous compounding is
Answer

FVN = PV ersN


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Annotation 1622394932492

Teachers are caught between the risks of discussing sensitive political and cultural dif ferences and the equal risks of glossing over these differences.
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Annotation 1622397816076

roup 1 has clearly misunderstood the German phrase Partei ergreifen as der Partei dienen. In a sentence that contained the words Staat and Partei and re ferred to events in the communist GDR, these American students had auto matically inferred that Partei had to do with the communist party and that Anton was refusing to serve in the Party. They believed that, like Plenzdorf 7s Edgar, Brussig's Anton was revolting against communism. How can I make them understand, the instructor asked, that many young people of the time in the GDR were not revolting against socialism, indeed, did not wish to do away with socialism, only to reform it from the inside? How can I make them ac cept for a moment that one might even wish to be communist or a better com munist
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Annotation 1622399913228

Let us suppose that a certain lexical unit has been assigned to the student, introduced, but then for some reason is dropped from the active acquisi- tion process and re-introduced at a later time. In such a case, the time and effort spent by the student between the initial introduction and the tem- porary removal from the acquisition process would be, effectively, wasted. After the re-introduction, the student would need to start the learning pro- cess all over.
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