Answer:
A)not negate the logical basis for trade in the Ricardian model.
Explanation:
Trade can be regarded as basic economic concept which involves the buying as well as selling of goods and services, having a compensation that is been paid by a buyer to a seller.
The Ricardian model can be regarded as model that incorporates the standard assumptions of a perfect competition. This model in it's simplest form give assumption of two countries that are producing two goods, but uses one factor of production, the goods here are usually assumed to be identical, or to be homogeneous, within as well as across countries. It should be noted that when there is higher wage, there will be greater number of workers that are willing to work and vice versa, which defined the relationship between wages and productivity. productivity gives the
measurement of how efficiently labor
is been utilized when producing goods and services.
It should be noted that If labor productivities were exactly proportional to wage levels internationally, this would not negate the logical basis for trade in the Ricardian model.
Answer:
The correct answer is $543,000
Explanation:
According to the given scenario, the calculation of the ending inventory is as follows:
= Inventory on hand + merchandise purchased F.O.B shipping point + F.O.B destination
= $350,000 + $118,000 + $75,000
= $543,000
The goods held on consignment i.e. not involved is not relevant
Thus, the calculation of the ending inventory is $543,000
Answer:
It is cheaper to buy the part. The company will save $5,000.
Explanation:
Giving the following information:
UNitary production cost:
Direct Materials $10.50
Direct labor $24.00
Variable factory overhead $ 5.50
Total avoidable Fixed factory overhead= (12*1,000) - 5,000= 7,000
Larson Company has offered to sell 1,000 units of the same part to Scott Corporation for $42 per unit.
First, we need to calculate the total cost of making the units:
Total cost= (10.5 + 24 + 5.5)*1,000 + 7,000= $47,000
Now, the total cost of buying them:
Buy= 1,000*42= $42,000
It is cheaper to buy the part. The company will save $5,000.
Because it takes<u> time</u> for people to find work in a society with poor information, frictional unemployment happens.
The unemployment that results from regular labor turnover, such as persons joining and leaving the labor force, as well as the continuous creation and destruction of jobs, is known as frictional unemployment. It comprises employees who are either looking for employment or holding out for a job soon.
Frictional unemployment has the following examples: employees looking for new jobs after quitting their existing ones, employees want to shift careers. Those looking for their first job after graduating from college or those starting their first career in the workforce.
To learn more about frictional unemployment
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Electric bill payable Liability
<h3>Is an electric bill considered a liability?</h3>
In our example, the utility bills for gas and electricity used in December are both an expense and a liability as of December 31.
When the utility bills are paid, the liability is eliminated.
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