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Ivan
3 years ago
14

If you have a nation that has a production possibilities curve whereas its economy must give up 500 toys to get 1 additional lap

top. Suppose it can get the laptop from another country it trades with in exchange for 4,00 toys. Considering what we learn this class that through international specialization and trade, a nation can consume at a point outside its production possibilities curve, and that reduces its opportunity cost of obtaining goods
Business
1 answer:
taurus [48]3 years ago
3 0

Answer:

International trade and specialization allows us to gain from trade. If a nation uses international specialization and trade to obtain the Laptop it needs to give up 400 units of toys as compared to 500 units if it was to produce it  by itself. This reduces the opportunity cost of producing laptops by 100 toys and “thus move outside its production possibilities curve.”

So, the above statement is true.

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Yakov, Ana, and Dina want to bake a cake. They are choosing among chocolate cake (C), vanilla cake (V), and red velvet cake (R).
vovangra [49]

Answer:

The specified preferences of Charles, Diana and Juanita. Charles and Juniata prefer chocolate over red velvet cake. Dina favors red velvet over chocolate.

So, when there is voting among red velvet and chocolate cake, the majority will select the Chocolate cake and among winner and vanilla majority will vote for Vanilla cake.

This is because Dina and Juanita favor vanilla over chocolate.

Among Chocolate and vanilla cake, the majority will elect for vanilla and among this winner and red velvet cake, the majority will choose for Red velvet cake.

This is because Diana and juanita favor vanilla over chocolate. So, vanilla cakes get majority elects. When there is voting among vanilla and red velvet , red vanilla acquire majority votes as charles and dina favor red velvet over vanilla.

The statement is False. The preferences are not transitive.

In the first situation chocolate is chosen to vanilla and red velvet is preferred to vanilla. Although, in the second situation, chocolate is favored to red velvet and vanilla is preferred to chocolate. Thus, the preferences do not exhibit transitivity.

8 0
3 years ago
What type of life insurance has cash value
alisha [4.7K]
Whole life policies provide “guaranteed” cash value accounts that grow according to a formula the insurance company determines. Universal life policies accumulate cash value based on current interest rates. Variable life policies invest funds in subaccounts, which operate like mutual funds.
7 0
3 years ago
If there are 10,000 people in your age bracket, and 10 of them died last year, an insurance
vaieri [72.5K]

Probability of someone in that age bracket dying this year would be .001

Explanation:

A degree in Risk Management is a form of academic degree granted to students in a post-secondary program focused on Risk Management. A student, university and business school may earn risk management degrees.

The sum of confusion that occurs in a given situation.

For example, if the heads are selected in a coin toss, the amount of risk involved is 50 per cent, as there is a 50 per cent probability that every coin toss will end up with tails. See also the Theory of Large Number, Odds and Probability.

5 0
3 years ago
Which of the following would further an economic goal of efficiency?
max2010maxim [7]

Answer:

The correct answer is (C)

Explanation:

Economics is all about allocating limited resources to attain maximum utility. In that regard, efficiency can be achieved by giving contracts to companies with higher productivity. These companies are all about attaining maximum productivity by investing limited resource. More productivity will increase the utility, and that will improve economic efficiency. So it is critical to give projects and contracts to certain companies which can increase the overall productivity.

7 0
3 years ago
An outbreak of salmonellosis occurred after an epidemiology department luncheon, which was attended by 485 faculty and staff. as
liraira [26]

Out of the 485 who ate the same food items, 65 people had fever and diarrhea and five of them were severely affected. If there were 72 cases added based on the laboratory tests, clinically apparent cases will be (65+72) or 137. The ratio of severe cases to other clinically apparent cases was 5/137.

4 0
3 years ago
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