Answer:
Option (b) is correct.
Explanation:
According to the law of comparative advantage, a person or a country has a comparative advantage in producing a commodity if the opportunity cost of producing that good as compared to the other commodity is lower than the other country.
For example:
There are two countries; Country A and Country B. There are two goods to be produced; Computer and bottles.
Suppose the opportunity cost of producing a computer in Country A is 4 bottles and the opportunity cost of producing a computer in Country B is 6 bottles.
Therefore, the Country A has a comparative advantage in producing computers because of the lower opportunity cost of producing it.
Answer:
Commercial bank
Explanation:
A commercial bank accepts cash deposits from the general public and lends a portion of the money as loans to make profits. Commercial banks make profits by charging a high-interest rate on credit issued than the interest rate they offer on deposits. By accepting deposits and lending to other customers, commercial banks act as intermediaries between suppliers and users of credit.
Commercials are profit-making institutions. Although their primary function revolves around accepting deposits and issuing out loans, they also perform other duties such as;
- Discounting bills of exchange
- Overdraft facility
- Agency functions, including payment functions and insurance of letters of credit and checks.
- General utility services including foreign exchange transactions, underwriting securities, and safe deposits.
Answer:
A. Act Again
Explanation:
In business, tracking a progress is made to ensure that you make a constant improvement within your operation.
During the observation process, you'll notify the things that can either become a hindrance or improvement to your operation. During the adjustment process, you'll eliminate the hindrance and add the things that can become the improvement into the plan.
After both of these were done, you need to act to execute the plan and check the progress again. This will form a cycle that you need to do throughout the operation.
Agreed to work together to control the price of domestic steel.
The chief executive officers of the major U.S. steel makers would most likely be prosecuted under the antitrust laws if they agreed to work together to control the price of domestic steel.
<h3>What are the objectives of antitrust law?</h3>
The Sherman Act, the nation's first antitrust statute, was enacted by Congress in 1890 as a "comprehensive charter of economic liberty designed to maintain open and unhindered competition as the rule of commerce." The antitrust laws generally prohibit unauthorized mergers and business practices, leaving it to the courts to determine which ones are prohibited based on the specific facts of each case.
From the era of horses and buggies to the modern digital era, courts have applied antitrust rules to evolving marketplaces. Nevertheless, for more than a century, the antitrust laws have had the same fundamental goal: to safeguard the competitive process for the benefit of consumers, by ensuring that there are strong incentives for businesses to operate effectively, keep prices low, and keep quality high.
<h3>The three core federal antitrust laws:</h3>
- Any "monopolization, attempted monopolization, conspiracy, or combination to monopolize" is prohibited by the Sherman Act, as is "every contract, combination, or conspiracy in restraint of trade."
- The Sherman Act has harsh penalties that can be applied. The Sherman Act is a criminal law as well, and although the majority of enforcement actions are civil, anyone or any company that violates it may face legal action from the Department of Justice.
- "Unfair techniques of competition" and "unfair or deceptive activities or practices" are prohibited by the Federal Trade Commission Act.
Learn more about antitrust laws here:
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Answer:
24%
Explanation:
For the taxes due on April 2020 (current year taxes):
The Lin household falls under the fourth tax bracket for married individuals filing jointly:
- tax rate 24%
- Income between $171,051 to $326,600
If no deductions were available, they would owe $188,000 x 24% = $45,120 in taxes.
