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adelina 88 [10]
3 years ago
7

The law of comparative advantage says that a person should produce a good if he or she: a. ​has an absolute advantage in a relat

ed activity. b. ​has the lowest opportunity cost of producing that good. c. ​is equally good at producing this good as someone else is. d. ​has the greatest desire to consume that good. e. ​has a comparative advantage in a related activity.
Business
1 answer:
Orlov [11]3 years ago
6 0

Answer:

Option (b) is correct.

Explanation:

According to the law of comparative advantage, a person or a country has a comparative advantage in producing a commodity if the opportunity cost of producing that good as compared to the other commodity is lower than the other country.

For example:

There are two countries; Country A and Country B. There are two goods to be produced; Computer and bottles.

Suppose the opportunity cost of producing a computer in Country A is 4 bottles and the opportunity cost of producing a computer in Country B is 6 bottles.

Therefore, the Country A has a comparative advantage in producing computers because of the lower opportunity cost of producing it.

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Suppose that prices in the United States rise relative to prices in France. We expect that (on the foreign exchange market) the
mixer [17]

Answer:

Decrease , Increase

Explanation:

Rising prices of goods and commodities in the United States would absolutely lead to a decrease in demand of the US dollars. This is principally due to the fact that, elsewhere, there is an alternative that costs lesser and hence, there would be a shift in sourcing, making the US dollars weakens.

Now, it is established that demand and supply are an inverse relationship. Due to the fact that demand is low, there’ would be an increase in supply of the currency in the foreign exchange market died to tube fact that there has been an increase in supply for it

4 0
3 years ago
Knowing that a third party may use the information that Ray is providing, does Ray owe a duty of confidentiality to Onyx?
artcher [175]

Answer:

<em>B. Yes, although it may be breached in most states if there is a court order to do so.</em>

Explanation:

<em>Duty of confidentiality is a provision that has been put in place in most states, to enable clients open up freely if they need help. This allows professionals to take whatever actions necessary to carry out full service delivery when helping the client. </em>Some of these details include health status, a client-lawyer case story, a social media's access to users' personal details, etc. The law prohibits professionals from disclosing information made available to them by the client to a third party. This duty is held by many professional bodies like the medical body, legal body, among others. <em>This duty can be broken by law in situations where the client sues the professional, or when there is a legal court order to do so</em>.

3 0
3 years ago
A budget is used to do which of the following
Leya [2.2K]

Answer:

A budget is a financial plan used to estimate future income and expenses. The budgeting process may be carried out by individuals or by organizations. Budgets help an entity determine whether it can continue to operate with its projected income and expenses.

Explanation:

thank me later

6 0
3 years ago
Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most bal
Paladinen [302]

Answer:

1. The GDP deflator for this year is calculated by dividing the <u>value of all goods and services produced in the economy this year</u> using <u>this year's prices </u>by the <u>value of all goods and services produced in the economy this year </u>using <u>the base year's prices</u> and multiplying by 100.

This is why the formula for the GDP deflator is = GDP by year n prices/ GDP by base year prices.

2. However, the CPI reflects only the prices of all goods and services<u> bought by consumers. </u>

<u />

3. Which does an increase in the price of a Chinese-made car that is popular among U.S. consumers show up in? - <em><u>B) CPI</u></em>

The Chinese-made car is not made in the US and is included in the basket of goods consumers buy which is used to calculate calculate CPI.

4. Which does a decrease in the price of a Treewood Equipment feller buncher, which is a commercial forestry machine that cuts and stacks trees show up in? - <em><u>A) GDP Deflator</u></em>

This is not part of the goods in the basket and it is assumed to be made domestically so it is part of the GDP Deflator.

4 0
3 years ago
If France had positive net exports last year, then it Group of answer choices sold more abroad than it purchased abroad and had
Snowcat [4.5K]

If France had positive net exports last year, then it (A) sold more abroad than it purchased abroad and had a trade surplus.

<h3>What is trade surplus?</h3>
  • When focused simply on trade effects, a trade surplus indicates that a country's goods are in high demand on the global market, which raises the price of those items and leads to a direct strengthening of the home currency.
  • When exports surpass imports, the trade balance (surplus) is positive.
  • When exports are fewer than imports, the trade balance is negative (deficit).
  • When a country exports more goods than it imports, it has a trade surplus.
  • For example, if China exported $1 trillion in products while importing only $200 billion in goods, it would have an $800 billion trade surplus.

Therefore, if France had positive net exports last year, then it (A) sold more abroad than it purchased abroad and had a trade surplus.

Know more about trade surplus here:

brainly.com/question/4126723

#SPJ4

The complete question is given below:
If France had positive net exports last year, then it

A. sold more abroad than it purchased abroad and had a trade surplus.

B. sold more abroad than it purchased abroad and had a trade deficit.

C. bought more abroad than it sold abroad and had a trade surplus.

D. bought more abroad than it sold abroad and had a trade deficit.

7 0
1 year ago
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