Answer:
Prices of standard goods in developing country is generally lower than prices of goods in developed countries.
Explanation:
In the U.S. current account, most of the trade deficit results from an excess of imported <span>merchandise (B).</span>
<h2>You made the choice with the lowest "Opportunity cost".</h2>
Explanation:
Opportunity cost in simple terms, can be explained as "You get one by losing the other".
So why this opportunity cost is necessary? Let us understand.
This plays a significant role in "Personal finances". This is the effective part to be learnt to make decisions on finance.
Some of the real life examples are listed below:
- Attending the interview is important than attending an entertainment event
- Only if you spend time and money you can see a movie
"Theorie der gesellschaftlichen Wirtschaft" coined the word "opportunity cost".
Answer:
D) Canada since the cost per unit of output will be lower.
Explanation:
A German worker earns $6 per hour with a X productivity, we can assume X = 10 units, so the labor cost in Germany = $6 / 10 units = $0.60 per unit
A Canadian worker earns $10 per hour with a 2X productivity, we can assume X = 10 units, so the labor cost in Canada = $10 / 20 units = $0.50 per unit
Canadian direct labor is 20% more efficient than German labor.
The correct answer for the question that is being presented above is this one: E. One reason that Chinese peasants were ready to rebel is that the emperor had used them as forced labor to achieve his goals. <span>B. The Sui dynasty reunited China in the sixth and seventh centuries by combining existing laws into a single legal code. </span>