1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ElenaW [278]
3 years ago
8

In one hour, the United States can produce 25 tons of steel or 250 automobiles. In one hour,Japan can produce 30 tons of steel o

r 275 automobiles. This information implies that:
A.Japan has a comparative advantage in the production of automobiles.
B.the United States has an absolute advantage in the production of steel.
C.Japan has a comparative advantage in the production of both goods.
D.the United States has a comparative advantage in the production of automobiles.
Business
1 answer:
MArishka [77]3 years ago
7 0

Answer:

Option (D) is correct.

Explanation:

In United states:

Can produce 25 tons of steel or 250 automobiles,

Opportunity cost of producing a ton of steel = 250 ÷ 25

                                                                          = 10 automobiles

Opportunity cost of producing 1 automobile = 25 ÷ 250

                                                                         = 0.1 tons of steel

In Japan:

Can produce 30 tons of steel or 275 automobiles,

Opportunity cost of producing a ton of steel = 275 ÷ 30

                                                                          = 9.17 automobiles

Opportunity cost of producing 1 automobile = 30 ÷ 275

                                                                         = 0.11

Therefore,

United States has a comparative advantage in producing automobiles because the opportunity cost of producing automobiles is lower than the Japan.

Japan has a comparative advantage in producing steel because the opportunity cost of producing steel is lower than the United states.

You might be interested in
If a check correctly written and paid by the bank for $272 is incorrectly recorded in the company's books for $227, how should t
djverab [1.8K]

Answer:

Add $45 to the book balance.

Explanation:

This is a transposition error which is an example of error of original entry. A transposition error occurs when the figures are posted in the wrong order, while an error original entry occurs when a wrong amount is entered into the right account. This kind of error usually causes discrepancy between the bank balance and the book balance.

To correct this error in the question, we first find the difference between the right amount and the wrong amount as follows:

Difference = Right amount – Wrong amount = $272 - $227 = $45

Therefore, the difference of $45 will be added to the book balance to bring it into an agreement with the bank treatment as follows:

Bank correct treatment = $272

New book treatment = Wrong amount + Difference = $227 + $45 = $272  

It can now be seen that both posting are now in agreement after the correction.

4 0
3 years ago
Which accounting assumption or principle is being violated if a company is a party to major litigation that it may lose and deci
joja [24]
The accounting assumption is the full disclosure. For a business, the full disclosure rule requires an organization to give the important data with the goal that individuals who are acclimated to perusing monetary data can settle on educated choices concerning the organization. 
A disclosure is an extra data connected to an element's money related proclamations, normally as a clarification for exercises which have fundamentally affected the substance's monetary outcomes.
8 0
3 years ago
On October 31, 2015, Damon Company's general ledger shows a checking account balance of $8,445. The company's cash receipts for
solniwko [45]

Answer:

Explanation:

Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in the smoothly manner.  

There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.

The outstanding deposits is computed below:

= Company cash receipts - bank deposited

= $74,640 - $71,375

= $3,265

And, the outstanding checks is computed below:

= Company written checks - Processed by bank

= $72,515 - $71,270

= $1,245

The preparation of the  bank reconciliation statement on October 31, 2015 for Damon Company's  is presented in the spreadsheet. Kindly find the attachment below:  

8 0
3 years ago
Which of the following statements is​ true? A. Each country as a whole is made better off as a result of international​ trade, b
natulia [17]

Answer:

A. because it can impact an individual

Explanation:

5 0
3 years ago
Wims, Inc., has current assets of $5,000, net fixed assets of $23,300, current liabilities of $4,450, and long-term debt of $11,
Novay_Z [31]

Answer:

a). $12,850  b.) 550

Explanation:

a). Shareholder equity

The shareholder equity consists of the shareholder capital contributions plus the retained earnings. calculating the shareholder's equity is through the formula shareholder equity = total assets -total liabilities

In this case,

Total assets = $5,000,+ $23,300= $28,300

Total liabilities = $4,450 + $11,000 + $15,450

Shareholder equity = $28,300 -$15,450 = $12,850

b). Net working capital

Net working capital is the difference between current assets and current liabilities. i.e., net working capital is current assets - current liabilities

current asset = $5000

Current liabilities = $ 4,450

Net working capital; = $5,000 - $4,450= $550

5 0
3 years ago
Other questions:
  • How should the davises react to adidas' planned acquisition of reebok? what aspects of new balance's operations strategy should
    7·1 answer
  • Agriculture commodities are usually sold under which environment
    12·1 answer
  • Trudie lyn calls you because a bill is still showing due but she knows she paid it and her bank and credit cards are all reconci
    7·1 answer
  • The agency responsible for regulating the money supply in the united states is
    9·1 answer
  • Although best used as a last resort, many small businesses find it convenient to use __________ as a short-term source of financ
    7·1 answer
  • Hect the best answer for the question
    8·1 answer
  • Serena, a bank manager at the United Front Bank, heads the business loan department. She wants to communicate to all of the bank
    9·1 answer
  • On June 10, Novak Corp. purchased $8,350 of merchandise on account from Sarasota Company, FOB shipping point, terms 2/10, n/30.
    14·1 answer
  • Machine X has an initial cost of $10,000. It is expected to last 12 years, to cost $200 per year to maintain and to have a salva
    11·1 answer
  • trini started a new office job and her supervisor trained her for the position. however, her supervisor was not an adequate trai
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!