Answer:
Technological advancement
Explanation:
Technological advancement is a method that is used to make production process more efficient without increasing the labour that is used.
It involves the use of technology to increase efficiency of the production process.
This makes it possible for SmartTech to produce more product and services with less people.
They are investing more in technology than in human labour.
Answer:
See below
Explanation:
Specialization means a company or country concentrating on producing few commodities. In practice, a state or company will focus on the products it can produce more efficiently. It means focusing on goods they can manufacture at a lower cost compared to other countries.
The USA can specialize in the goods and services it can produce at a lower cost than other nations. It can then export these products to other countries at competitive prices. For products that are costly to manufacture in the USA, it is prudent to import them from countries that can produce them at lower costs.
Some products manufactured in other countries at a lower cost may be sold in the USA at fair prices than when produced in the USA.
Answer:
$67,600
Explanation:
Calculation for the company’s cash flows from operating activities using the indirect method
Cash flows from operating activities
Net income 5,800
Adjustments to reconcile net income to operating cash flow
Depreciation 49,000
Accounts receivable decrease 13,500
(31,500-45,000)
Inventory increase (11,100)
(66,500-55,400)
Accounts payable increase 11,200
(43,400-32,200)
Income taxes payable decrease(800)
(2,700-3,500)
Net cash provided by operating activities $67,600
Therefore the company’s cash flows from operating activities using the indirect method will be $67,600
Answer:B. are always completely flexible
Explanation:The classical theory proposes that all markets reequilibrate because of adjustments in prices and wages which are flexible. For instance, if an excess in the labor force or products exist, the wage or price of these will adjust to absorb the excess. If prices and wages are flexible, markets reequilibrate.
Wages are said to be flexible when they respond to changes in supply and demand and lead to the market clearing wage being set. It implies that the wage will be set by the Marginal Revenue Product of labour and marginal cost of labour. Any change in supply and demand for labour will lead to a change in the wage rate.
The importance of wage flexibility arises from the fact that, in most macroeconomic models, we find an inverse relationship between wages and employment.