Lilliput's net exports are ($244 billion). Therefore, Lilliput is running a trade deficit of $244 billion.
A trade surplus implies that Lilliput's exports are greater in value than its imports. A situation of <em>"neither a trade deficit nor a trade surplus"</em> exists when the exports are equal in value to the country's imports.
Data and Calculations:
Lilliput's exports = $205 billion
Lilliput's imports = $449 billion
Net exports for Lilliput = ($244 billion)
Thus, Lilliput is running a trade deficit of $244 billion because its imports <em>are worth more than its </em><em>exports.</em>
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Answer:
Alpha Technology
Outstanding Computer's consumption ratio for setup hours is:
b. 0.48
Explanation:
a) Data and Calculations:
Overhead activities and costs:
Setting up equipment $3,000
Machining $15,000
Excellent Outstanding
Laptops Computers
Direct Labor $25,000 $10,000
Direct Materials $20,000 $5,000
Expected Production in Units 3,000 3,000
Machine Hours 850 2,000
Setup Hours 80 75
Total setup hours = 155 hours
Outstanding Computer's consumption ratio for setup hours = 75/155 * 100
= 48%
The philosophy discussed above is called enabling.
Enabling is providing workers with the education and tools they need to make decisions. Companies can empower workers by enabling them with the knowledge to make decisions that will benefit the company and satisfy the customers in the long run. This will lead to increase in profitability.
Answer:
see below
Explanation:
Operating expenses are the cost a business incurs while engaging in its normal business operations. They are the costs not directly be attached to the production process. A business incurs operating expenses in managing it day to day activities. They exclude one time expenses such as judgment cost, accounts adjustments, and other non-recurring costs.
Operating expenses are classified into administrative, selling, and general expenses. Businesses cannot avoid operating expenses; hence the management should strive to keep them as low as possible. Examples of operating expenses include rent, salaries, employee benefits, transport, depreciation, repairs, taxes, sales commissions, amortization, and pension contributions.
Answer:
The answer is b) how technology is best used in the production of goods and services
Explanation:
The concept of welfare economics is used in the context of the Economy and public finances. It is defined as the branch of the economy that tries to determine the conditions that are needed to reach the maximum of social welfare. For this, the conditions are established to maximize production with a given amount of resources and optimization of the distribution of goods and services, analyzing the policies pursued in the achievement of goals that are considered desirable from the point of view of well-being.
