1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
n200080 [17]
3 years ago
9

Suppose there are only two factors of production, labor and capital, and two goods, cloth and bicycles. a. The UK has 50M worker

s and 100M units of capital. The ROW has 5B workers and 4B units of capital. Which country is relatively labor abundant?
Business
1 answer:
LiRa [457]3 years ago
7 0

Answer:

ROW

Explanation:

Given that,

UK has 50M workers and 100M units of capital.

ROW has 5B workers and 4B units of capital.

A country is labor abundant if the endowment of labor in that country relative to the other factors is greater than the other countries.

Therefore,

In UK:

= 50 workers ÷ 100M units of capital

= 0.5 workers

For every unit of capital there are 0.5 workers.

In ROW:

= 5B workers ÷ 4B units of capital

= 1.25 workers

For every unit of capital there are 1.25 workers.

Above calculations clearly shows that ROW is relatively labor abundant and UK is relatively capital abundant.

You might be interested in
Under the market system, ______ coordinate the decisions made by households and businesses.
MakcuM [25]

Under the market system, prices coordinate the decisions made by households and businesses.

<h3>What is a market system?</h3>

It should be noted that a market system simply means an economy whereby the individual makes choices in the market and decisions.

In this case, under the market system, prices coordinate the decisions made by households and businesses.

Learn more about market system on:

brainly.com/question/1659498

#SPJ1

7 0
1 year ago
The current account is best defined as:
stiks02 [169]

Answer:

The account that includes transactions like imports and exports, income earned by Americans abroad, and net transfers to other countries.

Explanation:

A current account can be defined as an account that record the different transactions a country carries out with another country. A current account comprises of net primary income, earnings from foreign investors that have occurred within a particular period of time.

Almost all countries are involved in trading of goods and services with another country, a current account helps to evaluate the manner in which a particular country traded their different goods with foreign markets.There tends to be a postive balance of a country exports more goods than it imports.

4 0
3 years ago
From the point of view of economics, information systems technology can be viewed as a factor of production that can be substitu
Anna71 [15]

Answer: True

It can be replaced by traditional systems, however, it is not the most appropriate, because information systems help us organize information about a company so that it can be good for reading, analyzing and making decisions, if it does not comply with these principles then we can say that the company is becoming a bit more inefficient.

Traditional systems work, however, in terms of information systems, we can also have the decrease in information errors, so it is important that they be as automated as possible.

3 0
2 years ago
Mary is filing Head of Household with a taxable income of $79,280. What is her income tax for Marks: 1 2018? Choose one answer.
antiseptic1488 [7]

Answer:

a. $11,989

Explanation:

tax rate // for income above

0.1        //  $           0

0.12        //  $   13,600

0.22       //   $  51,800

0.24      //    $ 82,500

Mary's income of $79,280 is on the third bracket as is lower than the minimum for the fourth bracket.

first bracket:

$13,600 x 10%    =                     $ 1,360

second bracket:

($51,800 - $13,600) x 12%   =    $ 4,584

third bracket

($79,280 - $51,800) x  22%   =  $ 6,045.6

total tax income: 11,989.6

8 0
3 years ago
ABC Hospital invests $5,095,000 in a joint venture with a reputable oncology group and the hospital agrees to a 55% interest in
Vsevolod [243]

Answer:

Year Cash Flow Cumulative Cash flow Discounted Cash Flow(8.9%) 0 $5,095,000 $5,095,000 $453,455 1 $1,500,000 $3,595.000 $3,141,5452 $3,000,000 $ 595,000 $141,5453 $4,500,000 ($3,905,000) $3,4515454 $6,500,000ABC Hospital will get ROI in 3 years, this option I would recommend to the CEO.

Subscribe to unlock

8 0
3 years ago
Other questions:
  • Elise's health insurance policy has a deductible of $500, a $20 copayment on doctor visits, and coinsurance of 10% on all expens
    11·1 answer
  • Sophie Bennett has met the deductible for her doctor's visits. However, her insurance company requires her to pay 20% of all exp
    5·1 answer
  • Which of the following investment plans best reflects diversification? Ben has an investment portfolio with numerous stocks and
    7·1 answer
  • 6. You own a coal mining company and are considering opening a new mine. The mine will cost $120.0 million to open. If this mone
    9·1 answer
  • When quantity demanded in a market equals quantity supplied, then the:
    8·1 answer
  • On which of the following goods or services might a tax increase be hardest to pass on to consumers? A) automatic car washes
    9·2 answers
  • On April 2 a corporation purchased for cash 7,000 shares of its own $11 par common stock at $26 per share. It sold 4,000 of the
    6·1 answer
  • An attitude of constantly seeking ways to improve company operations, including customer service, product quality, product featu
    11·1 answer
  • Price Reading Quiz QUESTION 3 of 10: is the total revenue of a business less all expenses over a period of time. Oa) Profit O b)
    14·1 answer
  • The IRS assessed a large tax and penalty against Karl. Karl retained Roger, the CPA who prepared the tax returns, to challenge t
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!