money multiplier: 25
Increasing the reserve ratio will decreases the money multiplier.
In financial economics, a money multiplier is one of colorful nearly affiliated rates of marketable bank plutocrat to central bank plutocrat( also called the financial base) under a fractional- reserve banking system. It relates to the maximum quantum of marketable bank plutocrat that can be created, given a certain quantum of central bank plutocrat. In a fractional- reserve banking system that has legal reserve conditions, the total quantum of loans that marketable banks are allowed to extend is equal to a multiple of the quantum of reserves. This multiple is the complementary of the reserve rate minus one, and it's an profitable multiplier. The factual rate of plutocrat to central bank money , also called the money multiplier
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Both __________ and __________ are Federal Reserve assets.
A) currency in circulation; reserves
B) currency in circulation; government securities
C) government securities; discount loans
D) government securities; reserves
C) government securities; discount loans, Discount loans and government securities are both assets of the Federal Reserve.
The American central bank is known as the Federal Reserve System (FRS). It is conceivably the most potent financial organization in the whole globe and is sometimes referred to as "the Fed." It was established to give the nation a secure, adaptable, and stable financial and monetary system. The board of the Fed is made up of seven people. Additionally, there are 12 Federal Reserve banks, each of which is led by a different district's president. A financial organization with exclusive authority over the creation and distribution of money and credit for a country or a group of countries is known as the central bank. In contemporary economies, the central bank is typically in charge of monetary policy formulation and member bank regulation.
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Sophie, the CFO of Slalom Ski Supplies, received a watch from one of her company's largest vendors, Colorado Ski Shoppe. She received the gift with a card congratulating her on Slalom's recent merger with another company. In determining whether accepting the gift would create a significant threat to her compliance with the AICPA code, which factor should Sophie consider
In determining whether accepting the gift would create a significant threat to her compliance with the AICPA code, D) Whether the gift was reasonable in the circumstances factor should Sophie consider.
What is AICPA code?The American Institute of Certified Public Accountants published the AICPA Code of Professional Conduct, which is a set of codified statements outlining a CPA's ethical and professional obligations. The code must be written, revised, and reissued by the AICPA every year on June 1. The AICPA website has the most recent version of the Code. Check out the links below for earlier iterations of the Code.The code outlines requirements for auditor independence, objectivity, and integrity as well as obligations to customers and coworkers and behaviors that are detrimental to the accounting profession. In his speech to the American Association of Public Accountants' annual meeting in 1907, Joseph Edmund Sterrett discussed the controversy and problems surrounding the creation of a code of professional conduct.
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Why do countries specialize and trade with other countries when they could make the product themselves?
Trade between two agents or countries allows countries to enjoy higher total output and level of consumption than what would have been possible domestically. Canada and Mexico can each specialize in good they have a comparative advantage in and exchange with one another.
Trade contributes to a global efficiency. When country opens up to trade, capital, labor shift toward industries in which they are used more efficiently. Societies derive a higher level of economic welfare.
Countries specialize in producing certain goods to gain comparative advantage. Economies that promote their comparative advantages in producing a particular good are able to maximize benefits of international trade.
By specializing in production of certain goods and services, nations can use their resources more efficiently.
It is good in trade because both nations entering into trade agreements can benefit. Both nations not only save time and resources, but they will also be able to increase overall output in their respective nations
Specialization can increase productivity and provide comparative advantage for firm or economy. Microeconomic specialization involves individual actors and economic components, and macroeconomic specialization involves broad advantage an economy holds in production.
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most business presentation visuals for nonlinear presentations are created using _____________.
Prezi is used to produce the majority of nonlinear business presentation graphics. An innovative company or group that engages in professional activities is referred to as a business.
An organization or entrepreneurial entity engaging in commercial, industrial, or professional activity is referred to as a business. A business's goal is to coordinate some form of economic output (of goods or services). Businesses can be for-profit corporations or nonprofit organizations working to further a social cause. Businesses varies in size and scope from small, local enterprises to enormous, global conglomerates. An organization that runs for commercial, industrial, or professional purposes is frequently referred to as a business. The foundation of the concept is an idea and a name, and to ascertain whether it is viable to develop the idea into a business, substantial market research may be necessary.
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What are the employee rights according to OSHA ?
employee rights according to OSHA are Get the necessary safety gear, such as gloves, a harness, and a lifeline in case of falls. Be safe from harmful chemicals. Speak with the inspector and request an OSHA inspection.
What fundamental privileges do workers have at work?Not be subjected to harassment or discrimination (treatment with less favor) on account of one's race, color, religion, sex (including pregnancy, sexual orientation, or gender identity), national origin, handicap, age (40 or older), or genetic information (including family medical history). are paid equally for labor of the same value. The Act establishes and clarifies three rights for employees: a "right to know" information about the risks associated with their employment; a right to submit OSHA complaints to regulate workplace hazards; and a right to be protected from retaliation for exercising rights protected by OSHA.
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_____ is the full introduction of a complete marketing strategy and the launch of a product.
How do I master Excel fast?
Quickly learn Excel in several steps ,learn to use the user interface An excellent place to begin is to get adept at using the Excel interface. learn a few practical shortcuts, frozen windows, Make a straightforward dropdown menu, Utilize conditional formatting to visualize important data fill the flash Make a data summary using PivotTables, Safeguard Excel data.
How much time is required to learn Excel?Excel has a wide variety of tools and features, so some individuals believe it will take them 18 to 20 hours to be become skilled with all of its sophisticated features. Others estimate that this figure is closer to 40 hours, or a work week.
Can Excel be learned in a day?Excel can be learned in an one day. If you spend an entire day studying With the aid of Excel, you would be able to thoroughly comprehend the fundamental functionality of spreadsheets and how to carry out simple tasks.
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What is an example of a business cycle?
The actual Great Recession of the late 2000s serves as an illustration of a business cycle.
The U.S. economy was in the expansionary stage of the economic cycle before to the start of the Great Recession, which is characterized by an increase in GDP, low inflation, and rising employment.
The launch, growth, shake-out, maturity, and decline stages make up the most typical division of the business life cycle, which is the movement of a business over time in phases.
Why is the concept of a business cycle important?Understanding business cycles is crucial for success while running a business. A business cycle is the measured expansion and contraction of economic growth over a given time period. It is also referred to as a trade or economic cycle.
Business owners can make wise judgments if they have a thorough understanding of business cycles. The forces of supply and demand, changes in the GDP, the availability of capital, and future expectations all contribute to the economic cycle. The four main parts of this cycle are typically distinguished as follows: expansion, peak, contraction, and trough.
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What are the three factors investors should consider before choosing where to invest their money?
Before choosing where to invest their money, investors should take into account three factors: the best use for their money, their investment goals, and their age.
Any individual or other organization (such as a business or mutual fund) who invests money in the hope of making a profit is referred to as an investor. Investors depend on a variety of financial products to generate a rate of return and achieve significant financial goals like saving for retirement, paying for a child's school, or just collecting more wealth over time.
To achieve objectives, a wide range of investment vehicles are available, including (but not limited to) equities, bonds, commodities, mutual funds, exchange-traded funds (ETFs), options, futures, foreign currency, gold, silver, retirement plans, and real estate. Investors have the option to consider opportunities from a variety of perspectives, and they often seek to reduce risk while maximizing rewards.
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Three characteristics can be used to describe every investment: safety, income, as well as capital growth.
Define factors kept in mind while making investments?Each investor must choose the right combination of these three elements. One will be in the lead.
Safety
It is believed that there's no investment that is 100 percent safe and secure. However, you can come fairly close.In stable economic regimes, one is to invest in government-issued securities. The gold standard continues to be American-issued bonds.Income
Some of the fixed-income assets that were previously discussed can be purchased by investors that prioritise income. However, they start to prioritise their income. They are looking for investments that would ensure a supplemental, stable income.Capital Gains
By essence, capital growth can only be attained through the sale of an asset. Stocks are a form of capital. Without dividend payouts, their owners must sell them to make money.Other forms of capital growth investments include everything from diamonds through real estate.To know more about the safe investments, here
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Unlike in the case of goal-setting theory, MBO strongly advocates _____.
A) self-generated feedback
B) explicit time periods
C) jointly set goals
D) independent tasks
E) specific performance objectives
(C)Unlike in the case of goal-setting theory,MBO strongly advocates jointly established goals.
MBO is an effective method because it allows subordinates to set goals together with managers and supervisors.It is a management method used to improve performance.Performance is determined by objectives that include organizational goals as well as employee goals. MBO advocates for specific,measurable goals and feedback.However, there is only one implication that the goals are perceived as achievable.The focus is most effective when the individual has to work hard to achieve the set goals. MBO can be a participatory process.Goal setting theory strongly advocates participation in decision making,while MBO shows that goals assigned by managers are often just as effective.Management by objectives (MBO) is a process in which a manager and an employee agree on specific performance goals and then develop a plan to achieve them. It is designed to align goals across the organization and drive employee engagement and engagement.
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What Does elasticity of supply measures?
How sensitively a good's supply is to price fluctuations is determined by its price elasticity of supply. The percentage change in quantity delivered divided by the percentage change in price is used to compute it.
What determines elasticity of supply?Supply elasticity measures how sensitive a manufacturer or an industry is to shifts in the demand for its goods. Factors include the availability of essential resources, technological innovation, and also the number of rivals offering a similar good or service.
What is supply elasticity crucial?The elasticity of supply (PES) gauges how quickly a change in price affects the quantity delivered. A company must be aware of how fast and efficiently it can adjust to shifting market circumstances, particularly when it comes to pricing fluctuations.
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A small library contains 700 novels. in how many ways can you check out 3 novels? a. 70,498,130 b. 92,450,648 c. 65,239,500 d. 56,921,900 please select the best answer from the choices provided a b c d
Generally, the financial institution such as a bank lending out the sum of money usually requires that borrower provides a collateral which would be taken over in the event that the borrower defaults.
Who is borrower and lender?A lender is a person or entity that seeks funds from a lender. A Borrower is a person or financial institution providing monetary credit to the debtor. Role. They must repay the loan amount to the debtor. They have the right to ask for loan repayment from the debtor.
Is the bank a borrower or lender?Banks and financial institutions are prominent examples of lending entities in the real world. A borrowing entity may be involved in various companies that need resources/money to operate or set up new businesses.
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The correct option is a) 70,498,130. When selecting 3 novels out of a collection of 700 novels, the total number of possible ways you can check out the novels is known as a combination.
How many ways can you check out 3 novels from a library of 700 novels?70,498,130 ways
The formula for combination is:
nCr = n! / (r! (n-r)!)
where n = the total number of items in the set (700 novels)
r = the number of items you want to select (3 novels)
700! / (3! * (700-3)!) = 700699698 / (321) = 70498130
In simple terms, it means that there are 70498130 possible ways to select 3 novels out of 700 novels. This is also known as "700 choose 3" or "700C3".
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What are the advantages and disadvantages of a balloon payment?
Your monthly payments for auto financing may be decreased. It's more pricey. The benefits and drawbacks of a balloon payment are as follows.
The final payment will likely be very enormous, as indicated by the phrase "balloon." Balloon payments often cost at least twice as much as the prior installments on the loan. Balloon payments are more frequent in commercial lending than in consumer lending since the ordinary homeowner often cannot afford a very big balloon payment at the end of the mortgage.
As the balloon payment approaches, the majority of homeowners and borrowers want to either refinance their mortgage or sell their home before the loan's maturity date. Businesses frequently use balloon loans to take advantage of lower initial payments to satisfy their short-term financial needs before making the balloon payment. During the loan term, this sort of loan specifically designs earlier payments to be smaller and later payments—often simply the last payment—to be bigger.
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A balloon mortgage is a type of loan that provides home financing in a manner similar to that of a conventional 30-year fixed loan. The advantages and disadvantages of a balloon payment are listed.
Explain the advantages and disadvantages of a balloon payment?This substantial payment turns into the loan's "balloon" component.
The balloon mortgage provides a low upfront capital need.Balloon mortgages have lower interest rates.If required, you can refinance any remaining balance.In fewer than 10 years, you may be debt-free from the property acquisition.List of Drawbacks to Balloon Mortgages
Your balloon mortgage matures with a substantial payment due.You'll be more likely to experience a foreclosure.Balloon mortgages are typically not refinanced by lenders.Your property's worth could decline.Today, the majority of lenders won't provide a balloon payment.To know more about the balloon payment, here
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In theory, the contour of the product life cycle is _______ with regard to sales and profits.
circular
u-shaped
bell-shaped
upwardly sloping
In theory, the contour of the product life cycle is bell shaped with regard to sales and profits.
The term profit in business is defined as the financial benefit realized when revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question.
Here we know the contour of the product lifecycle and we need to find the missing term in the statement.
Here we need to know the procedure of product life cycle,
That is defined as the length of time from a product first being introduced to consumers until it is removed from the market.
And it is usually broken down into four stages such as introduction, growth, maturity, and decline and all these stages are repeated until it is fully developed.
Therefore, option (c) is correct.
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Which application's primary business benefits include forecasting, planning, purchasing, material management, warehousing, inventory, and distribution
The concept mentioned is the ERP system. It's a type of software system that helps associations automate and manage core business processes for optimal performance.
Enterprise resource planning( ERP) is the intertwined operation of main business processes, frequently in real-time and intermediated by software and technology. It enables the inflow of data between them.
By collecting an association’s participated transactional data from multiple sources, ERP systems exclude data duplication and give data integrity with a single source of verity. Deals vaticinations, deals strategies, and marketing juggernauts.
Request demand, resource and capacity constraints, and real-time scheduling. Forecasting, planning, copping, material operation, warehousing, force, and distribution. All of these fall as benefits of the ERP system.
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What is it called when you pay interest on interest?
It is called compound interest when we pay interest on interest. It is when you receive interest on both your interest income and your savings.
What does saving money mean?Savings are the funds that remain after subtracting a person's private consumption from their expendable cash during a specific time period. Savings, then, is what's left over after all bills and commitments have been fulfilled for a household or an individual.
What are savings, and why are they significant?One of the key components of wealth accumulation and having a stable financial future is saving money. You may escape life's uncertainties by saving money, which also allows you the chance to live a decent life.
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Why does interest get paid first?
An amortisation plan governs how mortgages or interests operate and specifies how long it will take to pay off the loan. A typical mortgage payment includes both interest and principal repayment.
Why does bank want first to get paid with interest?The interest you pay on your mortgage is referred to as mortgage interest. It is determined by the interest rate that was agreed upon when your contract was signed.
The fact that interest compounds means that your loan's balance is calculated using both the principal and any accrued interest.
Rates may be fixed, remaining constant over the course of your mortgage, or variable, changing periodically in response to changes in the market rate.
In the beginning, the majority of your mortgage payment is made up of interest, with a minor portion going to principal.
The main component of the payment constantly rises while the interest component gradually decreases as the months and years pass.
Mortgage interest is calculated based on the remaining debt due, which reduces over time. The interest is lower with smaller mortgages.
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What are 5 application layer protocols?
The Hypertext Transfer Protocol (HTTP), File Transfer Protocol (FTP), Post Office Protocol (POP), Simple Mail Transfer Protocol (SMTP), and Domain Name System are some examples of application layer protocols (DNS).
Why is the DNS protocol an application layer one?At the Physical, Data-Link, Network, and Transport layers of a protocol, names are not used. DNS is an application-layer protocol because it enables the application to convert a name into a network address. Since only apps are required to use names, it is an application-layer protocol. Application-layer protocols like DNS are used. The layer at the top of the TCP/IP model is called the Application layer. The User Datagram Protocol (UDP) on the Convey layer of the TCP/IP paradigm is used by DNS to transport data, just like it is by every application layer protocol.
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The prisoner's dilemma is a situation in which:
Group of answer choices
O players have difficulty in choosing a strategy based on trust.
O a firm's competitors ignores its action while making their own decisions.
O oligopolists behave irrationally.
O oligopolists attempt to maximize sales rather than profits.
O an oligopolist’s demand curve becomes perfectly inelastic.
The prisoner's dilemma is a situation in which an oligopolies' demand curve becomes perfectly inelastic.
The term demand curve in economics is defined as a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time.
Here we have know that the prisoner's dilemma presents a situation where two parties, in which separated and unable to communicate, and it must each choose between cooperating with the other or not.
Where the highest reward for each party occurs when both parties choose to co-operate.
Therefore, option (E) is correct.
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Developing countries and free-trade economists object to
A. lifting trade sanctions and trade barriers without a full economic analysis
B. low labor and environmental standards.
C. low tariffs.
D. linking labor and environmental standards with trade policy.
Developing countries and free-trade economists object to linking labor and environmental standards with trade policy
What is trade policy about?It is the set of regulations that determine how economic relations between local companies or individuals and foreign agents will develop. This encompasses the entire legal framework to which imports and exports are subject. This, in turn, varies for each partner. Thus, there are some countries with which there may be trade agreements and other markets with which strong restrictions are established on the exchange of goods and/or services.
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Question 6 (1 point)
The "wealth effect" refers to the fact that when aggregate price levels rise:
Question 6 options:
a) the real value of savings accounts, bonds, and cash declines.
b) firms cut back on their investments.
c) exports decline.
d)
interest rates tend to rise.
Question 13 (1 point)
In a depressed economy with a MPC of 0.75, what effect will a $100 increase in government spending have on equilibrium GDP?
Question 13 options:
a) It will raise it by $400.
b) It will raise it by $750.
c) It will reduce it by $250.
d) It will raise it by $250.
Question 14 (1 point)
If mergers between firms increase throughout the economy, what would happen to the SRAS curve?
Question 14 options:
a) SRAS shifts left.
b) SRAS would disappear.
c) SRAS shifts right.
d) SRAS would not change.
Question 15 (1 point)
Which of the following would NOT cause a shift in the aggregate demand curve?
Question 15 options:
a) a change in consumption spending
b) a change in investment
c) a change in net exports
d) a change in the price level
Q6. The correct option is A. The real value of savings accounts, bonds, and cash declines.
Q13.The correct option is A. It will raise it by $400.
Q14.The correct option is A. SRAS shifts left.
Q15.The correct option is D. A change in the price level.
The wealth effect is the exchange in spending that accompanies a change in perceived wealth. typically the wealth impact is positive: spending modifications in the equal direction as perceived wealth.
Consumption can be tied to relative wealth. specifically whilst deliver is extraordinarily inelastic, or while the seller is a monopoly, one's capacity to purchase a terrific can be noticeably related to one's relative wealth within the financial system. recall for example the value of actual estate in a metropolis with excessive average wealth (for example big apple or London), in evaluation to a city with a low average wealth. deliver is reasonably inelastic, so if a helicopter drop (or gold rush) have been to create big quantities of wealth inside the low wealth town, folks who did not acquire this new wealth could unexpectedly find themselves crowded out of such markets, and materially worse off in terms in their ability to eat/purchase real estate (regardless of having participated in a vulnerable Pareto development).
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a primary problem with "dream teams" composed of high-performing people is that ________.
a primary problem with "dream teams" composed of high-performing people is that individual star performers can have trouble putting the team's needs ahead of their own needs.
primary problem, which is an integral aspect of the majority of activities, is the process of reaching a goal by overcoming barriers. Simple domestic difficulties to complicated problems in the commercial and technological domains are all problems that need to be solved. The former is an illustration of a straightforward problem solution (SPS) that deals with a single problem, whereas the later is a complicated problem solution (CPS) that must deal with a number of interconnected problems. Undefined difficulties, in which the existing state is problematic but it is not evident what sort of operations management resolution to strive for, are divided from well-defined problems, which have clear barriers and goals. To find solutions, you need to have enough information and resources.
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What is the best example of good interpersonal skills?
Typical examples of interpersonal skills include empathy, active listening, and emotional intelligence.
Which of the following best describes interpersonal abilities?Typical illustrations of interpersonal abilities are emotional intelligence, active listening, and empathy. All facets of life are impacted by interpersonal skills, which are crucial in both interpersonal and professional contexts.
How would you sum up your interpersonal abilities?The capacity to assume leadership responsibilities is one example of interpersonal skills you might highlight. Motivational skills, both for oneself and for others, collaborating effectively with others in a team setting.
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The economy's two most important financial markets are
O the investment market and the saving market.
O the bond market and the stock market.
O financial markets and financial institutions.
O banks and the stock market.
The economy's two most important financial markets are the bond market and the stock market.
A stock market, also known as an equity market or share market, is a gathering of people who buy and sell stocks. Stocks are ownership claims on companies, and they can be traded publicly or privately.
Private company shares, for example, may be offered to investors through equity crowdfunding platforms. When making an investment, a strategy is frequently included. Stock exchanges may also cover other assets, such as derivatives or fixed-interest securities, which are more likely to be traded OTC.
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The document a mortgage professional provides you that outlines your anticipated cost to settle the loan transaction is referred to as:
The document a mortgage professional provides is referred to Good Faith Estimate. A good faith estimate include expected charges for the primary item or service we're getting.
A good faith estimate or also known as a GFE generally can be defined as a standard form that had to be provided by a mortgage lender or broker in the United States to a consumer. A good faith estimate or also known as a GFE is prepared as required by the Real Estate Settlement Procedures Act. GFE also included other items or services provided as part of the same scheduled experience.
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a company that uses a(n) ________ targeting strategy is appealing to a broad spectrum of people.
A company that uses a mass targeting strategy is appealing to a broad spectrum of people.
Mass targeting, also known as undifferentiated marketing, is a strategy where a company produces a single product or service to appeal to the widest possible market. The company does not segment the market based on specific characteristics such as demographics, psychographics, or behavior, but instead focuses on creating a product or service that will appeal to as many people as possible. This approach usually results in a lower cost per customer, but a lower profit margin.Marketing is the process of identifying, anticipating, and satisfying customer needs and wants through the creation, promotion, and distribution of products and services. It involves various activities such as market research, product development, pricing, advertising, promotion, distribution, and customer service.
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Leisure vacations is considering a project with a life of 5 years that will require the purchase of $1. 4 million in new 5-year macrs equipment. The macrs rates are 20 percent, 32 percent, 19. 2 percent, 11. 52 percent, 11. 52 percent, and 5. 76 percent for years 1 to 6, respectively. Ignore bonus depreciation. The firm desires a minimum 14 percent rate of return and the tax rate is 22 percent. The equipment can be sold at the end of the project for an estimated $225,000. What is the amount of the aftertax salvage value?.
All of the following are examples of employee benefits except
a. an end-of-year bonus.
b. health insurance packages.
c. unemployment insurance.
d. pay for time not worked.
e. workers' compensation insurance.
The correct answer is option A. An end-of-year bonus is not an example of employee benefits because an end of year bonus depends upon the company's performance and profitability and not on the employees performance.
The employee benefits include-
Medical insurance given to the employeeLife insurance provided to the employeeRetirement plans offered to the employeePaid sick leave available to the employeeFlexible work hours for the employeeRemote work options available for employeeWellness programmes offered to the employeeStudent loan repayment option given to the employeeEmployee benefits are usually defined as the non-wage compensation given to employees of an organisation by the organization in addition to their normal salaries or wages.
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What is absolute advantage used for?
When contrasted to another entity of a comparable nature, an absolute unit's ability to generate things with fewer resources is the gauge of absolute advantage.
Absolute advantage is the capacity of a person, business, area, or nation to produce more of an item or service with the same amount of inputs per unit of time than its rivals, or to generate the same amount of a commodity or service with fewer inputs per unit of time.
By producing the good or service with a lower absolute cost per unit and fewer inputs, or by using a more effective technique, one might achieve absolute advantage.
In his book The Wealth of Nations from the 18th century, economist Adam Smith introduced the idea of absolute advantage to explain how nations might profit from trade by specializing in producing and exporting the things that they can manufacture more successfully than other nations. Countries with a clear advantage may choose to focus on producing and selling a particular commodity or service, using the proceeds to pay for goods and services from other nations.
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The ability of an absolute unit to produce things with fewer resources when compared to another entity of a similar nature is the indicator of absolute advantage.
What is Absolute advantage?Absolute advantage may be attained by manufacturing the good or service with a lower absolute cost per unit and fewer inputs, or by utilizing a more efficient technique.
Adam Smith, an economist, developed the concept of absolute advantage in his 18th-century book The Wealth of Nations to describe how countries might benefit from trade by specializing in producing and exporting the goods that they can make more successfully than other nations. Countries
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for a company with diverse products, undercosting overhead of a product will lead to ________.
For a company with diverse products, Undercosting overhead of a product will lead to misallocating indirect costs of another product.
Two forms of cost-accounting errors that might occur during the manufacture of a product are Overcosting and Undercosting. Overcosting occurs when a company spends too much on the product they are producing, which can raise the price and lower the quality. Undercosting refers to spending too little on a product, which may result in a price increase or a decline in the profit margin.
Costs might increase when a company has inadequate management or poor communication across departments. For instance, if a business has clear guidelines about the amount of time that should be spent on each stage of the production process, one department may take longer than is required while another rushes to complete duties in order to meet deadlines.
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