Answer: d. Both a bar chart and a pie chart.
Explanation:
Answer: Option (A) is correct.
Explanation:
There are two terms in international economics; Trade creation and Trade diversion.
When some countries engaged in a particular economic integration then they have to agree upon various tariff rates. Trade diversion means that an economic integration or a free trade area diverts the trade from the most productive or efficient producer outside the economic integration towards the less productive or efficient producer inside the free trade area.
Types of economic integration:
(1) Preferential trade agreement
(2) Free trade agreement
(3) Custom unions
(4) Common Market
(5) Economic Union
Answer: $13,692,683.93
Explanation:
Present value = Amount / (1 + rate) ^ number of periods
= 19,046,180 / (1 + 8.6%)⁴
= $13,692,683.93
<em>Options are most probably for a variant of this question. </em>
Answer:
The correct answer is option A.
Explanation:
An economically efficient level of output is the level of output where the marginal benefit earned from the consumption is equal to marginal cost of production.
At this point, the consumer surplus and producer surplus will be maximum. The economic surplus which is a sum of both economic surplus and producer surplus will also be maximum.