I inferred want to know more about free trade agreements.
<u>Explanation:</u>
Put simply, a <u>free trade agreement</u> occurs between two or more countries, in which the agreement removes barriers of trade (imports and exports) between the Countries.
For example, if country A sells shoes to country B, <em>under</em> a free trade agreement there will be no government tariffs imposed by country B on the goods imported from country A.
Answer: Debit Petty cash $408; Credit Cash $408.
Explanation: Petty cash is a small amount of fund set aside for immediate or urgent minor expenses. In most organizations, there is a limit to the petty cash amount that a business unit can have. And someone is always saddled with the responsibility of managing the fund. It has its business rule in the sense that the amount should not be withdrawn beyond zero balance to throw it into debit.
In the instance of the question, the petty cash is $460 and within September, total expenses of $316 were incurred and paid for, leaving a balance of $144. However, the accountant determines that this cash should be increased by $92 on 1 October, so reimbursement to the fund would be the amount already spent ($316) and the proposed increment ($92), making $408.
Answer: a. Railroad loading
Explanation:
This question relates to the BCG matrix which allows a company with multiple divisions to know how to deal with its various divisions based on their growth rate and market share.
The question specifically relates to a matrix called "Cash cows". Cash cows are divisions that have a significant market share but a low growth rate. These divisions are stable and bring more money into the company than they cost to run.
This allows us to take profits from them and invest in other. The Railroad loading controls a significant market share of 75% but has a low growth rate so is a Cash cow.
Answer:
According to F.A. Hayek, the fundamental problem facing every society is how to use limited resources in the most optimal way possible.
Explanation:
To Hayek, this problem could not be fully solved by any society, but the best a society could do is to rely on the price system, only possible under a free market, to signal which uses were more optimal than others.
This is also the reason why F.A. Hayek, along with fellow Austrian economists Ludwing Von Mises, believe that socialism could not work: socialism, according to Hayek and Mises, destroyes the price system, and without it, society has no rational way to allocate resources in an optimal way.
Answer:
The firm's output prices will increase, because will the firm can quickly adjusts the prices of goods to the new price level of 110, it will not have to do so with wages, since wages are fixed by a year contract.
This will result in comparatively lower labor costs with higher prices at the same time, which will likely result in more economic and accounting profit for the firm.
The opposite effect will be felt by workers, whose wage is not keeping up with inflation, meaning that their income is losing purchasing power.
