Answer:
If an economist argues that everyone gains from trade, the following reasoning is most likely underlying her argument:
- Production according to the principle of comparative advantage lowers overall costs and therefore allows both countries to have a higher standard of living.
Explanation:
- The comparative advantage refer to the situation in which an individual, company or a country offers its services and products at a lower rate as compared to its competitor. This leads to trade-off as you have to comprise for the gain of something.
- This comparative advantage also increase the dependencies of nations or companies on each other.
- For example, England and Portugal has benefited from this comparative advantage concept as England get the wine at lower cost from Portugal and Portugal also get earning by selling this wine to England.
Answer:
The Estimated Monthly Mortgage Payment
= $2,810.81
Explanation:
Data and Calculations:
House price = $475,000
Down payment = $100,000
Percentage of down payment = 21.05% ($100,000/$475,000 * 100)
Finance period = 15 years = 180 months (15 * 12)
Nominal annual interest compounded monthly = 4%
The estimated monthly mortgage payment using an online finance calculator:
Monthly Pay: $2,810.81
House Price $475,000.00
Loan Amount $380,000.00
Down Payment $95,000.00
Total of 180 Mortgage Payments $505,946.54
Total Interest $125,946.54
Mortgage Payoff Date Jan. 2036
Answer:
$5,225,417
Explanation:
first payment 800000
1 quarter 250000
2 quarters 254000
3 quarters 258064
4 quarters 262193
5 quarters 266388
6 quarters 270650
7 quarters 274981
8 quarters 279380
9 quarters 283851
10 quarters 288392
11 quarters 293006
12 quarters 297694
13 quarters 302458
14 quarters 307297
15 quarters 312214
16 quarters 317209
17 quarters 322284
18 quarters 327441
19 quarters 332680
20 quarters 338003
11% = (1 + i/4)⁴
i = 0.106
quarterly interest = 2.65%
Now we need to determine the present value of this annuity and our discount rate is 2.65%. I will use an excel spreadsheet to determine the present value of the 20 quarterly payments and then add the initial payment.
$4,425,417 + $800,000 = $5,225,417
I would say that Wikipedia could be used to research the benefits and drawbacks of the free enterprise system in terms of the advancement in scientific enquiry that took place during the Renaissance and the Industrial Revolution thanks to the advent of capitalism (after feudalism). On the other hand, the same source could show the adverse working conditions for even women and children in the underground coal mines in England during the Industrial Revolution (intense exploitation).
Answer:
<em>Need for Achievement.</em>
Explanation:
David McClelland and his colleagues developed the Needs / Achievement Motivation Theory theory of McClelland.
The theory suggests that three needs; <em><u>Need for Power, Success and Affiliation</u></em>-affect human actions.
The desire to succeed, to perform in comparison to a set of norms, to strive to achieve greatness is the need for achievement.
