For each of the following goods that are imported in the United States, abundant input is the only source of comparative advantages that accounts for that country's comparative advantage. Therefore, the option A holds true.
<h3>What is the significance of a comparative advantage?</h3>
A comparative advantage can be referred to or considered as a situation in which a producer has an economic advantage over the other in a number of economic activities. At least two economies need to be a part of the society for the occurrence of a comparative advantage.
Abundant inputs is one of the key sources of comparative advantage. It is considered as a source that can account for another country's comparative advantage, when it lets the United States import its goods.
Therefore, the significance regarding comparative advantage has been aforementioned.
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Answer:
Dr Work in Process 574,000
Dr Manufacturing Overhead 163,000
Cr Wages Payable 737,000
Explanation:
Preparation of the journal entry to record the direct and indirect labor costs incurred during the year
Based on the information given the appropriate journal entry to record the direct and indirect labor costs incurred during the year will be :
Dr Work in Process 574,000
Dr Manufacturing Overhead 163,000
Cr Wages Payable 737,000
(574,000+163,000)
(Being to record direct and indirect labor costs incurred )
<u>Answer:</u>$1,825
<u>Explanation:</u>
Based on the single tax rate schedule, of the additional $10,900 of taxable income, $9,000 is taxed at 15% (the increase $31,375 to $42,275) and the remaining $1,900 ($38,650 minus $37,650) is taxed at 25%. To summarize, ($9,000 × 15%) + ($1,900 × 25%)
= $1,350+$475
=$1,825
The income tax from second job increases her tax liability by $1,825.
Answer:
A joint venture
Explanation:
A joint venture is a type of business arrangement where two or more parties agree to bring together their resources for the achievement of a common goal. It is a strategic partnership which is formed on shared objectives.
Because these two firms have agreed to combine their research and development capabilities to make a special, limited edition computer game, they have agreed to form a joint venture.
