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Companies that must determine well in advance of the selling season how many unites of a new product to manu-facture often underproduce products that sell well and have overstocks of others. The increased incidence in recent years of mismatches between production and demand seems ironic, since point-of-sale scanners have improved data on consumers' buying patterns and since flexible manufacturing has enabled companies to produce, cost-effectively, small quantities of goods. This type of manufacturing has greatly increased the number of new products introduced annually in the United States. However, frequent introductions of new products have two problematic side effects. For one, they reduce the average lifetime of products; more of them are neither at the beginning of their life (when prediction s difficult) or at the end of their life (when keeping inventory is expen- sive because the products will soon become obsolete). For another, as new products proliferate, demand is divided among a growing number of stock-keeping units (SKU's). Even though manufacturers and retailers can forecast aggregate demand with some certainty, forecasting accurately how that demand will be distributed among the many SKU's they sell is difficult. [hl:1]For example, a company may be able to estimate accurately the aggregate number of shoes it will sell, but it may be uncertain about which specific types of shoes will sell more than other types.[/hl:1]
In 1675, Louis XIV established the Parisian seamstresses' guild, the first independent all- female guild created in over 200 years. Guild members could make and sell women's and children's clothing, but were prohibited from producing men's clothing or dresses for court women. Tailors resented the ascension of seamstresses to guild status; seamstresses, meanwhile, were impatient with the remaining restrictions on their right to clothe women.The conflict between the guilds was not purely economic, however. A 1675 police report indicated that since so many seamstresses were already working illegally, the tailors were unlikely to suffer additional economic damage because of the seamstresses' incorporation. Moreover, guild membership held very different meanings for tailors and seamstresses. To the tailors, their status as guild members overlapped with their role as heads of household, and entitled them to employ as seamstresses female family members who did not marry outside the trade. The seamstresses, however, viewed guild membership as [hl:4] [hl:3] [hl:2] [hl:1]a mark of independence the patriarchal family.[/hl:1][/hl:2][/hl:3][/hl:4] Their guild was composed not of family units but of individual women who enjoyed unusual legal and economic privileges. At the conflict's center was the issue of whether tailors' female relatives should be identified as family members protected by the tailors' guild or as individuals under the jurisdiction of the seamstresses' guild.
Seventeenth-century philosopher John Locke stated that as much as 99 percent of the value of any useful product can be attributed to “the effects of labor.” For Locke's intellectual heirs it was only a short step to the “labor theory of value,” whose formulators held that 100 percent of the value of any product is generated by labor (the human work needed to produce goods) and that therefore the employer who appropriates any part of the product's value as profit is practicing theft.Although human effort is required to produce goods for the consumer market, effort is also invested in making capital goods (tools, machines, etc.), which are used to facilitate the production of consumer goods. In modern economies about one-third of the total output of consumer goods is attributable to the use of capital goods. Approximately two-thirds of the income derived from this total output is paid out to workers as wages and salaries, the remaining third serving as compensation to the owners of the capital goods. Moreover, part of this remaining third is received by workers who are shareholders, pension beneficiaries, and the like. [hl:3] [hl:2][hl:1]The labor theory of value systematically disregards the productive contribution of capital goods[/hl:1][/hl:2][/hl:3]—a failing for which Locke must bear part of the blame.
Ready4

Solutional caves are formed in the earth when a soft rock, usually limestone, is eroded by rainwater that has mixed with soils and carbon dioxide to form carbonic acid. Troglotopia Cave and the surrounding earth contain low amounts of soft rock, so it is not a solutional cave.

For purposes of evaluating the argument it would be most useful to establish which of the following?

Ready4

Genetically modified crops have been sold commercially for almost twenty years now, and there is no evidence linking their consumption with any sort of disease. At this point, it is unreasonable to believe they are dangerous; with such attention on them, if they created short- or long-term health problems, we would know about it by now.

Which of the following, if true, most weakens the argument stated above?

Ready4

Since publicly traded companies opt to shield some negative information about their company from the market, negative information tends to be shared progressively less and in wider communication channels of a company's organization. The public is, therefore, has less negative information about a publicly traded company than do the company's employees of the most private circles, such as the CEO.

The conclusion drawn above is based on the assumption that

The Gross Domestic Product (GDP), which measures the dollar value of finished goods and services produced by an economy during a given period, serves as the chief indicator of the economic well-being of the United States. [hl:1]The GDP assumes that the economic significance of goods and services lies solely in their price, and that these goods and services add to the national well-being, not because of any intrinsic value they may possess, but simply because they were produced and bought[/hl:1]. Additionally, only those goods and services involved in monetary transactions are included in the GDP. Thus, the GDP ignores the economic utility of such things as a clean environment and cohesive families and communities. It is therefore not merely coincidental, since national policies in capitalist and non-capitalist countries alike are dependent on indicators such as the GDP, that both the environment and the social structure have been eroded in recent decades. Not only does the GDP mask this erosion, it can actually portray it as an economic gain: an oil spill off a coastal region "adds" to the GDP because it generates commercial activity. In short, the nation's central measure of economic well-being works like a calculating machine that adds but cannot subtract.
The table below gives information for 9 publicly traded companies in the same industry. The following metrics are expressed in millions of US Dollars ($): Market Capitalization, Revenue, and Net Income. The market capitalization (market cap) is as of June 1, 2012 while other income statement metrics (revenue and net income), are as of Dec 31, 2011. The number of employees is as of December 31, 2011.GMAT、gmat题库、gmat模考、gmat考满分For each of the following, select Yes if the statement is true based on the information provided; otherwise select No.
Ready4

If the city goes on polluting the air at present rates, air quality and visibility over the city will begin to suffer, rainwater may be polluted, and the city will contribute to the global problem of greenhouse emissions. Taxing every polluting commercial establishment per volume of polluted air or per particulate volume of greenhouse emissions will induce businesses to reduce the amount of pollution they emit; this charge will therefore protect the city's air.

Which of the following is an assumption made in drawing the conclusion above?

Ready4

Disease X has afflicted cattle and cut into ranchers' profits. A genetic cause of the disease has been identified, as well as a gene therapy that can completely eradicate the cause of the disease in cattle. By applying this gene therapy to their cattle and eradicating the genetic susceptibility to the disease, ranchers will be able to carry on business in the future without incidence of Disease X in their cattle.

Which of the following is an assumption on which the argument depends?

Ready4

Which of the following most logically completes the passage?

A tropical thorn forest was cleared and converted by humans into soybean fields. The loss of the original habitat poses a threat to the area's population of cuis, which are wild guinea pigs. Ecologists originally estimated that the cuis in the area would vanish within four years. Two years later, the population of cuis is already cut in half, but it is unlikely that they will completely vanish from the region within the next two years, since _______________.

Ready4

Nanotechnology may pose risks in the coming decades as we find it increasingly commonplace to introduce small robots into our bodies. But the fact that these robots might be invisible to the naked eye doesn't mean we are helpless against them. After all, since the initial development of germ theory, we have designed and continuously improved upon ways to protect ourselves from a variety of germs.

In the passage, the author develops the argument by

Ready4

The more incentives there are for financial institutions to provide home mortgages, the more mortgage options financial institutions will provide to cater to different circumstances, and the odds that a potential home buyer is able to purchase a home are increased when more mortgage options are available. Therefore, by increasing incentives to financial institutions to provide home mortgages, the government can create circumstances that are more helpful for home buyers.

If the statements above are true, which of the following must be true?

The Ultra 700i is a new racecar. The ultra consumes gasoline at a rate of P kilometers per liter (P km/L) when its steady state driving speed is at Q kilometers per hour (Q km/h). In terms of the variables P and Q, select the expression that represents the number of liters of gasoline used in 1 hour of driving at steady state speed, and select the expression that represents the number of liters of gasoline used in a 40 km drive at steady state speed Q. Make only two selections, one in each column.
There is no consensus among researchers regarding what qualifies a substance as a pheromone. While most agree on a basic definition of pheromones as chemicals released by one individual of a species which, when detected by another individual of the same species, elicit a specific behavioral or physiological response, some researchers also specify that the response to pheromones must be unconscious. In addition, the distinction between pheromones and odorants - chemicals that are consciously detected as odors - can be blurry, [hl:3][hl:2][hl:1]and some researchers[/hl:1][/hl:2][/hl:3]classify pheromones as a type of odorant. Evidence that pheromone responses may not involve conscious odor perception comes from the finding that in many species, pheromones are processed by the vomeronasal (or accessory olfactory) system, which uses a special structure in the nose, the vomeronasal organ (VNO), to receive chemical signals. The neural connections between the VNO and the brain are separate from those of the main olfactory system, whose processing of odorants triggers sensations of smell. But while the VNO does process many animal pheromone signals, not all animal pheromones work through the VNO. Conversely, not all chemical signals transmitted via the VNO qualify as pheromones. For example, garter snakes detect a chemical signal from earthworms—one of their favorite foods—via the VNO, and they use this signal to track their prey.
Ready4

In the shipping industry, the amount of time it takes for most of a worker's occupational knowledge and skills to become obsolete has been declining because of the introduction of wearable computing devices, such as smart watches and smart glasses. Given the rate at which wearable computing devices are currently being introduced into shipping, the average worker's old skills become obsolete and new skills are required within as little as two years.

Which of the following plans, if feasible, would allow a company to prepare most effectively for the rapid obsolescence of skills described above?

Ready4

A study this year found that, among citizens of Tamalia whose tax reports were selected at random for an audit, 21 percent had prepared their taxes with the assistance of a tax accountant. However, among those whose audits uncovered indications of potential tax fraud, only 3 percent had prepared their taxes with the assistance of a tax accountant. Clearly, citizens of Tamalia who prepare their taxes without the assistance of a tax accountant are more likely to commit tax fraud.

The conclusion drawn above depends on which of the following assumptions?

Ready4

Springfield's city council wants to minimize the city's average yearly expenditures on its parking meters and so is considering replacing the coin-operated meters currently in use with roadside kiosks at which parking slips can be purchased via credit card. Since many of the coin-operated meters require replacement, the costs associated with the conversion to credit card kiosks would be minimal.

Which of the following would it be most useful to know in determining whether switching to roadside kiosks would be likely to help minimize Springfield's yearly maintenance costs?

Ready4

Which of the following expressions is equivalent to 18 20 − 18 19 34 ?

For many years, theoretical economists characterized humans as rational beings relentlessly bent on maximizing purely selfish reward. Results of an experimental economics study appear to contradict this view, however. In the ""Ultimatum Game,"" two subjects, who cannot exchange information, are placed in separate rooms. One is randomly chosen to propose how a sum of money, known to both, should be shared between them; only one offer, which must be accepted or rejected without negotiation, is allowed.If, in fact, people are selfish and rational, then the proposer should offer the smallest possible share, while the responder should accept any offer, no matter how small: after all, even [hl:4][hl:3][hl:2][hl:1]one dollar[/hl:1][/hl:2][/hl:3][/hl:4] is better than nothing. In numerous trials, however, two-thirds of the offers made were between 40 and 50 percent; only 4 percent were less than 20 percent. Among responders, more than half who were offered less than 20 percent rejected the offer. Behavior in the game did not appreciably depend on the players' sex, age, or education. Nor did the amount of money involved play a significant role: for instance, in trials of the game that were conducted in Indonesia, the sum to be shared was as much as three times the subjects' average monthly income, and still responders refused offers that they deemed too small.
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