Business Economics Questions

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    Economics-Bacic Economic Questions and Their Application to the Economies

    economists try to explain how this economic problem is solved by different economic systems. There are three economic systems that exist in the world today that is the free market, command and mixed economy. These economic systems have different ways in which they try to answer the fundamental economic questions of “What? How? And for whom to produce for? Samelson and Nordhaus define a market economy as an elaborate mechanism for cording people, activities and business through the a system of price

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    Economics for Business

    Question 1 [10 marks] Suppose the expected market demand for tickets to the Australian Open golf tournament to be held in Queensland in November is given by D = 40,000 -1,000P and the supply of tickets is S = 20,000. Tickets for a golfing tournament have negligible Marginal cost. Hence supply will be Perfectly Elastic. This means that 20 000 tickets will be supplied regardless of demand Demand = (40,000 – 1,000 * Ticket Price) tickets Supply = (20,000 + 0*Ticket

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    Business Economics Questions

    Business Economics Questions: 1. Explain the subject matter of economics as question concerning the adjustments between unlimited want and limited resources. 1 & 2 2. Explain how Market/Price mechanism solves there central problems of economics 1 & 2 3. Explain why the price in competitive markets settles down the equilibrium intersection of supply and demand. Explain what happens if the market price starts out too high or too low. 3 4.Explain the economic meaning 0f price elasticity

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    Business Economics

    Case Study Business Economics Jimmie C. Tolbert Professor Melton 20 August 2012 Responds to Mr. Burke: As the senior economic advisor to the president, I would have to say that your recommendation of lowering interest rates could potentially have positive effects under the economical principle of short-run. Lowering the interest rates would mean that the money supply in the economic will increase, thereby, giving consumers the opportunity to spend more which, will help

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    Business Economics

    Chapter 15, Question 11 "Which component of GDP is the most stable? Look for the smallest change from the year with the smallest contribution to GDP to the year with the "Which is the most volatile as a percent of GDP?" "Ignoring net exports, which component has grown the fastest as a percent of GDP since 1965?" Chapter 15, Question 14 "What are some of the limitations of the national income accounts in how they represent our standard of living?" Chapter 16, Question 5 "Why is

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    Business Economics

    | At a low price of $1.20 per liter, suppliers are willing to provide only 50 liters per consumer per week. If consumers are willing to pay $2.15 per liter, suppliers will provide 120 liters per week. The question is this: what prices are needed to convince producers to offer various quantities of a product or service? As price rises, the quantity supplied rises as well. As price falls, so does supply. This is a "direct" relationship, and the supply curve

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    Business Economics

    AD 501 TOPICS IN BUSINESS ECONOMICS – FALL 2012 QUIZ ANSWERS Below are the quarter-end balance sheet figures of CBRT [pic] a) Find the magnitude and sign of (short/long) FX position in the beginning and end quarter. Find the changes in FX position, domestic assets, central bank money, reserve money, other central bank money Answers: [pic] (long) [pic] b) Interpret the change in valuation account (incorporate the FX position in your line of reasoning)

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    Business of Economics

    |The Business Environment | | | |Karron Lay | |February 2, 2013

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    Economic for Business

    Question 1 Part A: (i): (ii)(iii)(iv): (iii): If the price for the orange set at 6, the market will provide 110 oranges per day while the demand for that will be just 60,so it means that we have surplus of 50 oranges per day. Because the equilibrium price is 5, so when the price increase the market provide larger amount of oranges to make more profit while the number of costumer decrease in order to the price. (it is in the previous diagram) (iv): In this case

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    Business Economics

    Week 6 You Decide: My Recommendation to the President Business Economics Professor Gary Smith April 10, 2013 Al Quarles III Dear Mr. President, After carefully reviewing the information from my fellow colleagues, I have come up with the following recommendations after listening to each person. Kathy Lee believes that raising taxes and reducing government spending is the way to go but all that will do is discourage businesses, lower motivation of individual workers and overall increase

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    Business and Economics

    how well and economy is doing 3. GDP is the total dollar value of all final good and services produces in a country during 1 year A. Components of GDP 1. Consumer spending a. Food b. Clothing c. Housing 2. Business spending d. Buildings e. Equipment f. Inventory 3. Government Spending g. Pay employees h. Buy supplies + other goods and services 4. Exports minus imports into a country B. Comparing of GDP

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    Business Economics Sample Questions

    all of the factors of production are fixed. C) all inputs being variable. D) at least one fixed factor of production and firms neither leaving nor entering the industry. 7) Philippa grows lettuces to sell. This is a perfectly competitive business and Philippa faces a perfectly elastic demand curve. If she wants to try to increase revenues she should: A) lower the price of her lettuce to try to sell more. B) keep the price the same but produce more to increase sales. C) do nothing;

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    Economics Essay Question

    15 marks Transport is a derived demand. People and businesses demand transport not for its own sake, but because of the services that it provides. For example, air travel is demanded as people travel abroad for vacation or for business. However, forecasting the demand for transport comes with several difficulties. The nature of the demand for transport makes such forecasting a difficult undertaking. This is partly because the provision of infrastructure may itself influence

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    Business/Economics

    produce. Despite the increase in oil prices experienced back in 1970, the price of oil has not shifted much in later years (Yizraeli 4). The demand and the supply of oil in the long run and the short run due to this model would differ depending on some economic factors.  2. Hypothesize the basic short-run and long-run behaviors of the model in the industry you have chosen in a market economy. The short run supply curve according to (Yousef 5) develops from the basis of fixed use marketing inputs and

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    Economics Poverty Questions

    Poverty Questions 1A) – The number of children living in poverty before housing costs is significantly (about 1.2 million) lower than after housing cost. This is a trend that is kept constant over the decade as the number of children living in poverty before housing costs in 2006 is about 2.8 million and the number after housing costs is 3.8 million, showing that throughout 1996 to 2006 the number of children living in poverty is higher after housing costs. The number of children living in poverty

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    Questions for Business

    BUSINESS BACKGROUND 1. Why did you start the bussiness and what motivated you? 2. What/ who motivated you start the business? how gave you the ideas? 3. Did you face any challenges in mobilizing you capital?what were the financial requirements and how did you mobilize funds? 4. Was there any problems in getting employees to work with you? Their skills and qualifications? 5. Did you have any business background before starting up? 6. What were the major challenges that you faced in the process

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    Questions for Naked Economics

    READ: Naked Economics: Undressing the Dismal Science, Charles Wheeland, W.W. Norton, 2003. Completely- cover to cover. Directions: Create a time management plan for your reading schedule to ensure you have ample time to read the book. Set due dates for each chapter and each part of the assignment. Review your schedule with a parent or guardian. Expectations: Work must be typed, 12 point font, double-spaced. Label each section appropriately with each number. Please check your work for complete

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    Business Economics

    Business Economics ABC Complete Kitchens, Inc. will look at the economic factors that may influence the plant’s operations and legal considerations. The organization will focus on the economic considerations before making any long term financial decision or any decision regarding the acquisition of capital. ABC Complete Kitchens Inc. will have a clearer picture as to how this can impact the operations of the new plant. ABC Complete Kitchens’ Inc. will examine two areas within economics, Macroeconomics’

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    Business Economics

    Shikha Neupane ID: 32330 Business economics Economics is a branch of social science which deals with study of how fright merchandises and properties are assigned to please apparently infinite requirements and needs. The fundamental theory in economics is that shortage involves that selections be made. Similarly business economics is the branch of applied economics that deals with the idea of relevance to the contemporary business, in order to improve a complete understanding of the supply

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    Business Economic

    Teedra Jones Business Economics GM 545 Fall B Term teedrajones@yahoo.com Essay 1. There are many factors that go into determining the price of a gallon of gas. The cost to crude oil refineries, refinery processing costs, distribution and tax all account for the high prices consumers are paying. Tax alone can makes up about 19 percent of the cost. While the price does fluctuate, it is steadily increasing. Between 2004 and 2005 the price of crude oil per barrel rose from $36.98 to

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    Business Economics

    SCHOOL OF MANAGEMENT MBA - PROJECT PAPER 1 NAME: - BOCKARIE LANSANA COURSE NAME: - BUSINESS ECONOMICS COURSE NUMBER: - GM545 FALL SESSION B-JANUARY-FEBRUARY 2011 Email address:-lans58@yahoo.co.uk 2. EHTICAL ISSUES IN BUSINESS One of these issues is the over reporting and under reporting of net income. The company management seeks to show that every quarter the net income of the business has grown. In order to show this they adopt unethical means and or illegal means in the

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    Business Economics

    Keller Graduate School Business Economics 26 July 2014 Project I The price of gasoline fluctuates due to the price of crude oil. Gasoline is made from crude oil (found in the earth). Gasoline prices have been on the rise due to increasing crude oil prices. West Texas Intermediate (U.S) and Brent Crude (World) are two of the most important crude oil market suppliers (Dent & Sakurai, 2014). These organizations crude oil price is mandated by the Organization of Petroleum

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    Business Economics

    Chapter 15, Question 14 According to the Bureau of Economic Analysis, one of the major limitations of national income accounts is that it ignores the importance of nonmarket production in the household, for example, meal preparation, cleaning, laundry, and childcare. Therefore, when these activities are ignored in the market, the value of production is overstated due to the decline in nonmarket production. Another limitation is the gray market and illegal activities, such as production and

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    Economics Question

    formula milk price range is from £7.99 to £9.99 per 900g. Nappies economic (big) pack price varies from £5.99 to £9.99. Most of the time nappies can be bought on offer, for example, 2 for (£10 to £16) or even 1/3 of the full price. As on baby milk formula prices does not change. As both products are necessity and therefore less sensitive to the price changes overall, why there is such a difference with “an offer” case. In economic terms I have thought of two reasons. First is that the formula milk

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    Business Economics

    MBA-608 Course Name : Business Economics Assignment : Assignment I Submission Date : 01-November-2014 Question 1: Since the recent Great Recession of 2007-2009, there has been increasing disillusionment with the free market system. Critically analyze the view that the free market system is the best and only realistic alternative for determining the allocation of resources in an economy. Solution 1: A general slowdown in economic activity, a downturn in the business cycle, a reduction in

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    Economics for Business

    Chapter-6 1. What is natural rate of unemployment? How does it determine. 2. Distinguish between Structured & Fractional unemployment rate. 3. What are the three causes of wage rigidity? Chapter-9 1. What do you mean by Economic Fluctuation? How can you explain Economic Fluctuation with IS-LM model? 2. What do you mean by Keynesian Cross? Us e KC to predict the impact of an increase in G, an increase in T & an increase both G & T? Chapter-10 Exercise: 1, 2, 3, 4 Problem & application:

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    Business and Economics

    Skills, Tasks, and Technologies: Implications for Employment and Earnings. Handbook of labor economics, 4(12), 1043–1171. Artuc, E., Chaudhuri, S. & McLaren, L. (2010). Trade Shocks and Labor Adjustment: A Structural Empirical Approach. American Economic Review, 100(3), 1008-1045. Chang-Tai, H. & Klenow, P. J. (2009). Misallocation and Manufacturing TFP in China and India. Quarterly Journal of Economics, 124(4), 1403-1448. Firpo, S., Fortin, M. N., & Lemieux, T. (2012). Occupational Tasks and Changes

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    Economics Short Answer Questions

    offering too much (expensive, but supplier would accept), or understating it and offering too little (company don’t accept). to mitigate this Ray should offer under the MC - if it gets refused, he should re-submit multiple rounds of offers in reasonable business judgement increments. Ray should be weary of what other hardware is required in his purchase - the supplier could use complementary pricing strategy and charge less for the actual computer sale (inline with MC) then much higher for essential software

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    Business Economics

    Business Economics Slide 1 The Intention of every business-to make money Slide 2 *Basics to becoming wealthy and remaining wealthy 1. Spend wisely 2. Create multiple sources of income (several ways to make money) 3. Invest you money to make more money 4. Pay as little taxes as possible that is legal Spend Wisely- Credit cards are a great way to keep track of expenses and keep all expenses in one place. But, you must pay them off every month or they are bad. Multiple sources

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    Business Economics

    Economics Statistics Auditors are those professionals who assure that all the financial statements are prepared according to the rules and regulations of Generally Accepted Accounting Principles (GAAP) or Financial Accounting Standard Board (FASB). There are two types of auditors which are internal auditors and external auditors. Importance and difficulty level of decisions significantly differs from one profession to another. Auditors decide on the basis of available data of organization including

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    Business Economics

    accounting are professionals which directly deal with financial matters and especially in cost control and budgeting. Controllers use statistics software to analyze and interpret data that helps them to make strategic and short term decisions. Question#2.a There are many issues related to controllers while making decisions on the basis of available data. Budget forecasting is very important for controllers because this tool is used to control costs and increase revenue. Deviation of budget from

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    Business Economics

    process and how it affects the organization to achieve its goals. Communication in organizations encompasses all the means, both formal and informal, by which information is passed up, down, and across the network of managers and employees in a business. These various modes of communication may be used to disseminate official information between employees and management. Communications can be effective and non-effective which lead the organization to accomplish the tasks. This project presents

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    Business Economics

    establishing father of current management. Peter Drucker, whose life crossed the previous century (1909 – 2005), was an exceedingly instructed native of the world: an innovative soul who composed thirty-nine books including numerous fantastic chips away at business management. He was a man of numerous parts: a sharp eyewitness, a long lasting understudy, an educator, mentor of eminent corporate pioneers, and the organizer of an official school in Claremont, California, that bears his name. Peter Ferdinand Drucker

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    Business Economics

    always be government intervention in the form of taxes, price controlsand restrictions that prevent new competitors from entering a market. Just like supply-side economics, free market is a term used to describe a political or ideological viewpoint on policy and is not a field within economics. DEFINITION of 'Capitalism' A system of economics based on the private ownership of capital and production inputs, and on the production of goods and services for profit. The production of goods and services

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    Business and Economics

    purposes. In the field of business and investment, researchers and scholars conduct studies with the aim of promoting investment and ensuring there is a favorable investing climate in the future. The paper will evaluate two pear reviewed articles conducted on the field of business. The first article is strategy written by David, Gary, and Amy in 1997 in Strategic Management Journal. The second one is strategic planning by Michael E Porter. It was published in 1996 in Harvard Business Review. The paper will

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    Business Economics

    Introduction In today’s business environment the ability to distinct an organizations in the really sense lies in the way its human resource is integrated into the organization’s process and procedures and this reflect in the way the business perform. It has become very visible that no matter the strategies employed by any organisation it may not achieve the desired goal when the people that remain the greatest asset are not aligned with the business vision and mission, that is to say

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    Economics and Business

    are the ones being bailed out, while on the other hand, a global financial meltdown will affect the livelihoods of almost everyone in an increasingly inter-connected world. The problem could have been avoided, if ideologues supporting the current economics models weren’t so vocal, influential and inconsiderate of others’ viewpoints and concerns. A collapse of the US sub-prime mortgage market and the reversal of the housing boom in other industrialized economies have had a ripple effect around the

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    Economics for Business

    recession will be provided and why recession can be considered as an economic problem will be explained. Also, the first part will explain how the strength and depth of recession can be measured. The second part of this essay will explain various economic policy tools that government often use to make sure that economy of a country grows. Part 1 Recession is defined as a condition whereby a country experiences temporary economic decline, during which time the trade and industrial activities in the

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    Business Economics

    competition leads to the betterment in the standards of the market competitors compared to other markets. ii. It promotes entrepreneurship and innovation (Pmiranda2857, 2009; Rothbard, n.d.). The ability of a business to produce goods and services for consumers brings out the best in any business entity. Competing businesses are always busy looking out for new ways to get ahead of each other by introducing new products and technology in their quest to stay on top. Entrepreneurship basically involves

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    Business Economics

    Scarcity, Choice, and Cost All choices mean that one alternative is selected over another. Selecting among alternatives involves three ideas central to economics: scarcity, choice, and opportunity cost. Scarcity Our resources are limited. At any one time, we have only so much land, so many factories, so much oil, so many people. But our wants, our desires for the things that we can produce with those resources, are unlimited. We would always like more and better housing, more and better education—more

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    Business Economics

    unemployment in Trinidad and Tobago are defined, examined and the origin of inflation and type of unemployment are decided upon. Table of Contents 1. Introduction 5 2. The perfectly competitive firm 6 2.1 Market equilibrium 6 2.2 Time periods in Economics 7 2.2.1 Short run 7 2.2.2 Long run 7 2.3 Theory of Costs 8 2.3.1 Fixed cost (FC) 8 2.3.2 Variable cost (VC) 9 2.4 Shut-down decision 9 2.4.1 Short run 9 2.4.2 Long run 10 3. Monopoly market 10 3.1 Output and price level comparison

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    Business Economics

    Chapter 15, Question #14 Three main limitation to national income accounting that I would like to discuss are; errors in measurement, subcategories that are misrepresented, and how welfare is not measured (EconPort). The gross domestic product, also known as GDP, is the market value of all final goods and services produced within a country in a given period. Errors in measurement come into play because we are unable to accurately figure out the United States gross domestic product numbers due to

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    Business Economics

    and shut down its main website in the country. Instead it formed a joint venture with a local partner to help operate an online auction business in the country. Critics say it failed to recognise that having a strong US brand would not automatically translate to success in China. And eBay is not the only firm to struggle with transferring a successful business model overseas. Tesco reportedly spent a decade preparing for the launch of its Fresh & Easy chain on the West coast of America, with

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    Business and Economics

    CALIFORNIA STATE UNIVERSITY, FULLERTON International Law for Business (Mgmt 346) Section 20579 Course Syllabus for Fall 2016 MIHAYLO COLLEGE OF BUSINESS AND ECONOMICS Professor Carl Pentis DEPARTMENT OF MANAGEMENT Office: SGMH 5385 Law Office telephone: (714)385-9682 Cell (text or call me!): (310)594-0869 Office hours: Tuesday, Thursday 5:00-5:30 pm; and by appointment School Office e-mail: cpentis@fullerton.edu Law Firm e-mail:carlpentis@gmail.com Law Firm fax: (714)

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    Business Economics

    Business Economics II Group Nº in Moodle: Surnames and names: Homework 3 (Due on April 26) Exercise 1: Analyze the specific investment case between the firms Alcoa and Essex. You can find information in the article in Moodle. The extra information found in other sources will be valued (cite the bibliography or source used). In particular, answer the following questions: a. Describe the initial relationship between the two firms and justify it in an economic sense. b. Describe the problematic

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    Business Economics

    to 1. Plan and Implement real world research work on selected socio-economic problem in the society 2. Divide bigger socio-economic problem in to sub-thematic areas 3. Develop and explain indicators/measurements relating to thematic area of socio-economic problem in the society Learning outcomes: After completing this assignment student should be able to 4. Describe problems, issues and status of the socio-economic aspect of a Food system 5. Explain the main areas of concern in a food

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    Economics Review Questions

    Review question – Chapter 1 Question 1 – what is meant by the term ‘opportunity cost’? what is an example of an opportunity cost of going on holiday? The opportunity of a given action is the value of the next best alternative to that particular action. Opportunity cost of going on holiday, you would have worked at your summer job. Question 2 – what is Karen’s opportunity cost of going to the movie? Karen’s next best alternative is to babysit. By babysitting Karen earns $60 and also gets to

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    Economics Practice Question

    1. Which of the following is NOT an application of supply and demand analysis? a. Understanding changing world economic conditions and their effects on prices. b. Evaluating the effects of government price controls on the agricultural industry. c. Determining how taxes affect consumers’ spending patterns. d. all of the above. e. none of the above. 2. A supply curve reveals a. the quantity of output consumers are willing

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    Economics for Business

    |1 | | |Question 1 – 22 marks | | | |Question 2 – 22 marks | | | |Question 3 – 44 marks |

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    Business Economics

    Business Economics GM545 Chapter 3 - Everyone’s Gasoline Problem. Based on US Energy Information Administration data, annual supplied of US gasoline increases rapidly. In 2008, the United States consumed about 137.80 billion gallons (or 3.28 billion barrels) of gasoline. 1 Currently the retail gasoline prices about $2.83 per gallon after it went up to above $3.00 per gallon then dropped down. Mainly is the increasing price of crude oil where price varies within the year from $40 to $86

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