Answer:
- production of X good
- increase
Explanation:
Production of good X over production of good Y (PX / PY) represents the opportunity cost of producing good X instead of good Y. The lower the ratio, the lower the opportunity cost. A lower opportunity cost results in a comparative advantage in the production of good X.
If the country starts to trade it will need to produce more of good X in order to exchange for other goods.
The items that affect incentives
for people to produce and exchange goods and services are:
liability rules
property rights
contract enforcement
<span>These factors will hinder the exchange of goods
and services to people.</span>
Answer:
C. Ideal standards are better suited for cash budgeting than practical standards
Explanation:
The standards that basically handles no work interruptions or no machine breakdown is called ideal standards.
Answer:
The correct answer is d. The proper safeguarding of client information.
Explanation:
According to chapter 3 of the GAO Yellow Book, the following are the ethical principles:
-
The public Interest
- Integrity
- Objectivity
- The proper use of government information, resources, and position.
- Professional behavior.
Proper protection of customer information is not an ethical principle in this book, but it should be a factor to consider in the information manipulation process.
Answer:
the domestic price of sugar will increase to $125.
Explanation:
Since the world price of sugar is higher than the domestic price, domestic producers of sugar will export their products in order to earn a higher profit. That will eventually lead to an increase in the equilibrium price from $100 (former equilibrium price) to a higher price equal to the world price ($125).
