1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
irga5000 [103]
3 years ago
9

Most countries, including the United States, import substantial amounts of goods and services from other countries. Yet the chap

ter says that a nation can enjoy a high standard of living only if it can produce a large quantity of goods and services itself. Can you reconcile these two facts?
Business
1 answer:
Tju [1.3M]3 years ago
3 0

Answer:

The main determinant is the NET IMPORT, if the net import is higher than the net export then countries like the United States of America will have a low standard of living,while if the net export is higher than the net import then Countries like the United States of America will enjoy a high standard of living.

COMPARED TO NET EXPORTS, COUNTRIES LIKE THE UNITED STATES OF AMERICA HAVE A LOWER NET IMPORT WHICH GIVES THEM A POSITIVE BALANCE OF TRADE.

Explanation: THE VOLUME OF IMPORT IS NOT THE MAIN CONCERN, THE MAIN CONCERN IS THE VOLUME OF NET IMPORT COMPARED TO THE VOLUME OF NET EXPORT COUNTRIES LIKE THE UNITED STATES OF AMERICA HAVE A HIGHER NET EXPORT THAN NET IMPORT WHICH GIVES THEM TRADE ADVANTAGE AND A POSITIVE BALANCE OF TRADE. With a good balance of trade a country like the United States of America will maintain and enjoy a high standard of living as the volume of imports is always lower than the value of what is exported.

You might be interested in
Does Audit services needed in Auchi polytechnic student union government? If yes,why
Zepler [3.9K]

Audit services is one that is needed in Auchi polytechnic student union government to know if the student body use the money allocated to them in the right manner or for the right project.

.

<h3>What is the student union?</h3>

The student union is known to be a body that is composed of student of any university, polytechnic or college institution.

It is known to be a body that is autonomous and one whose internal life set up its own by-laws.

Note that the student unions are often allocated funds by the university or polytechnic  and as such they have to use the audit service because some of their leaders may squander the money given to them., So this will help to checkmate them.

Hence, Audit services is one that is needed in Auchi polytechnic student union government to know if the student body use the money allocated to them in the right manner or for the right project.

Learn more about student union government from

brainly.com/question/14856644

#SPJ1

3 0
1 year ago
Fenway Electronics produces video games in three market categories: commercial, home, and miniature. Fenway has traditionally al
Ivenika [448]
THAT LINK IS A VIRUS DO NOT GO TO IT ALL LINKS ARE VIRUSES and also if you go to “goggle” you should see a camera icon on the top right and take a picture of the question and maybe get the answer there
8 0
3 years ago
Two eastern European countries formed a free trade agreement. As a result, one of the countries that used to produce its own pla
Aleonysh [2.5K]

Answer:

Trade creation

Explanation:

Trade creation is the process where there is increase in economics welfare as a result of joining a free trade area for example a customs Union.

Consumption experiences a shift from high cost producers to low cost producers causing expansion in trade.

In the given instance due to formation of free trade agreement, high cost plastic production is now replaced with low cost import of plastics from the other company.

There is a shift from high cost producers to low cost producers as a result of trade agreement between the two nations.

3 0
3 years ago
(!!!PLEASE ANSWER FAST!!!) (!!!15 POINTS!!!)
MAVERICK [17]

Answer:

Explanation   highest paying

:

6 0
2 years ago
During the second quarter of the year, Wallace Enterprises received $30,000 from customers in exchange for providing electronic
SSSSS [86.1K]

Answer:

On an income statement, the company would declare c. $21,000 expenses

Explanation:

Wallace Enterprises received $30,000 from customers in exchange for providing electronic components. Income from the exchange was $30,000

During the second quarter of the year, total expense = supplies expense + interest expenses + wages expense = $5,000 + $1,000 + $15,000 = $21,000

Income from the exchange - total expense = $30,000 - $21,000 = $9,000>0

The company recognizes gain $9,000.

On an income statement, the company would declare $21,000 expenses

5 0
3 years ago
Other questions:
  • A performance rating error in which the rater tends to give employees either extremely high or extremely low ratings is referred
    8·1 answer
  • Gypsy foods inc. is a multinational food and beverage company. its product labels are colorful and project the words "new" and "
    15·1 answer
  • Assume the perpetual inventory method is used. The company purchased $12,300 of merchandise on account under terms 4/10, n/30. T
    9·1 answer
  • Analyze the effectiveness of Postbellum policies by explaining if Reconstruction succeeded or failed in the areas of Economics –
    13·1 answer
  • Dinosaur Junior Corporation purchased a one-year insurance policy in January 2013 for $60,000. The insurance policy goes into ef
    12·1 answer
  • Murray Motor Company wants you to calculate its cost of common stock. During the next 12 months, the company expects to pay divi
    12·1 answer
  • Explain the importance of feedback in the communication process.(3marks)
    6·1 answer
  • The Classical Theory is based on the assumption that an economy has ______________ or, if nudged away, quickly returns to that c
    10·1 answer
  • _____are short-term, specific targets which are attainable, measurable, and controllable.
    13·1 answer
  • _____ is the money a company earns from providing services or selling goods to customers.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!