Answer:
B. The input gains from greater international specialization and trade are the equivalent of economic growth.
Explanation:
If a country moves outside its production possibilities curve, the country has experienced economic growth, precisely because it has increased the amount of goods it can produce according to the production possibilities curve.
International trade thus facilitates economic growth because it makes each country focus on the production of the goods that have the lower opportunity cost, and therefore, use the country's resources more efficiently. This, added to technological improvements, can help a country's economy become larger in both the short and long-term.
Answer:
The correct answer is (A)
Explanation:
Product efficiency is a key aspect which every firm or organisation must achieve to improve revenue and profits. Product efficiency is a way to allocate resource to produce goods and service at the lowest average cot possible. Firms usually apply economist of scale to achieve product efficient. Product efficiency can only be achieved by using scarce resources efficiently and effectively.
Transfer payments are payments that the government makes to a household even if the government did not receive a good or service from the household. Transfer payment examples are services like disability, social security, financial aid and other subsidies. Those on social security and benefits like this are not expected to give something to the government to earn these in their current state. Think of a transfer payment as a "gift" and do not need anything in return for use.
Answer:
The correct answer is: fad products.
Explanation:
Fad products are the kind of goods or services that have very short life cycles. It is caused because those goods were spread quickly and gained popularity but, consumers lost interest in them at the same speed. Usually, the main problem with those goods is the lack of innovation and diversity.
Answer:
Correct answer is option c. $3 million.
Explanation:
Step 1. Given information.
- 3 million gain
- 50 million sales
Step 2. Formulas needed to solve the exercise.
The withholding amount on the part of the purchaser of this land = Total consideration value * 6%
Step 3. Calculation.
= $50 million *6%
= $3 million
Step 4. Solution.
Therefore correct answer is option c. $3 million.
