Answer:
The answer is option D) Norway has a comparative advantage producing oil because it can produce more oil.
Explanation:
Norway currently produces 1,398 thousand barrels of crude oil per day. At this capacity, it can produce more oil in comparison to United Kingdom that produces 1000 thousand barrels per day.
This statistics gives Norway a comparative advantage over United Kingdom.
Also comparing the consumption rate for both countries with Norway having a population of 5,421,241 which is far less than 66, 650,000 of the United Kingdom, shows that Norway will have enough to cater for her citizens as well as for exports.
Answer: lower than under absorption costing
Explanation:Product costs under variable costing are usually lower due to the composition of the cost calculation.
Under variable costing, the cost elements are direct material, direct labour and variable overheads while under the absorption costing method the cost calculation will include direct materials, direct labour, variable overheads and fixed overheads.
simply put is to say that variable costing calculation is lower than absorption costing calculation because absorption costing calculation includes fixed overheads while variable costing calculation does not.
Answer:
Real GDP per capita is a measurement of the total economic output of a country divided by the number of people and adjusted for inflation. It's used to compare the standard of living between countries and over time.
Answer:
False
Explanation:
The liability still remains in force unless the lender agrees to forfeit the balance of $2,700. Legally, the lender can sue the borrower to enforce her right in the court and be justified because she has not waived the outstanding liability owed to her.
As in the above case, the lender Rayna has not ignored the balance owed to her by Billy despite receiving $300 as being a full payment marked on the cheque.
This means that the balance of $2,700 is still outstanding against Billy and must be paid to the lender-Rayna because she has not waived the liability.
Answer:
Ans. C) 208 grandfather clocks to break even
Explanation:
Hi, First, let´s introduce the Break-even point (BEP) in units equation that we need to use.
![BEP=\frac{FixedCosts}{(Price-VarCost)} =[units]](https://tex.z-dn.net/?f=BEP%3D%5Cfrac%7BFixedCosts%7D%7B%28Price-VarCost%29%7D%20%3D%5Bunits%5D)
Therefore, our solution has to look like this:

So, in order to break-even, this company has to sell 208 clocks each year.
Note. 208 was the value obtained when the answer was rounded to the nearest unit.
If you´d like to know how much is that in dollars, you just go ahead and multiply the price by 208 and you will get.

Best of luck.