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alexira [117]
3 years ago
15

Suppose that Norway is a small country and currently produces 100,000 board feet of lumber at $600 per 1,000 board feet. Then it

begins to trade at the world price of $500 per 1,000 board feet. As a result of trade, Norway's production falls to 50,000 board feet and its consumption increases to 200,000 board feet. How many board feet of lumber does Norway now import?
A) 250,000 board feet
B) 200,000 board feet
C) 150,000 board feet
D) 100,000 board feet
Business
1 answer:
natulia [17]3 years ago
4 0

Answer:

The correct answer is C) 150,000 board feet.

Explanation:

In order to meet domestic demand, Norway must import the goods produced in other countries, which means that there is no price increase due to the shortage of the good.

If Norway only produces 50,000 board feets and the demand is 200,000, then it will be forced to introduce the missing amount that comes from other countries.

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If you wanted to build a structure on a river bank, you should build the structure __________ to maximize its lifetime.
Marina CMI [18]

Answer:

Above the point bar

Explanation:

channelization

Straightened sections of the river channel are lined with concrete to increase the rate of flow and reduce bank collapse

Advantages of channelization

Improves rate of flow

Benefits transportation

Reduces bank collapse

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3 years ago
Purchasing office supplies on account will: Multiple Choice Not change assets. Increase assets and decrease liabilities. Increas
Kobotan [32]

The correct option is C - Increase assets and increase liabilities

<u>Explanation:</u>

When anorganization purchases office supplies on account then it becomes essential to record such supplies as supplies on hand. Generally, in a business organization, the supllies on hand are used up within the span period of one year which means that they are to be recorded as current asset in the financial statement ( balance sheet). As no cash has been paid to merchandise, so it increases the liabilities also.

Therefore, it will increase the current assets and current liabilities.

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3 years ago
The decision to purchase a good or service or a customer benefit package is based on an assessment by the customer of the percei
quester [9]

Answer: True

Explanation:

The decision to purchase a good or service or a customer benefit package is totally based on the price of that package or a good and on the benefits that a consumer will received after the purchase. A rational consumer will compare the price of a good with the perceived benefits. If the perceived benefits worth greater or equal to price then a consumer may purchase that product otherwise not. Therefore, a consumer's decision is largely depend upon the ratio of price and benefits.

8 0
3 years ago
What type of economy is an economic system in which private businesses can operate freely with minimal state control
kkurt [141]
Market economy is the economic system which private businesses can operate freely with minimal state control
7 0
3 years ago
Read 2 more answers
When Castle Corporation pays insurance premiums, the transaction is recorded as a debit to prepaid insurance. Additional informa
atroni [7]

Answer:

$227,500

Explanation:

The computation of the total amount of cash paid is shown below:

Cash paid for insurance premium = Prepaid Insurance at end of the year  + Prepaid Insurance recognized - Prepaid Insurance at the beginning of the year

= $61,250 + $218,750 - $52,500

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We simply applied the above formula so that the correct amount of cash paid could come with respect to the insurance premium

5 0
3 years ago
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