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alina1380 [7]
3 years ago
15

Suppose that Italy and Germany both produce beer and stained glass. Italy's opportunity cost of producing a pane of stained glas

s is 5 barrels of beer while Germany's opportunity cost of producing a pane of stained glass is 11 barrels of beer. By comparing the opportunity cost of producing stained glass in the two countries, you can tell that the production of stained glass and has a comparative advantage in the production of beer. has a comparative advantage in Suppose that Italy and Germany consider trading stained glass and beer with each other. Italy can gain from specialization and trade as long as it receives more than of beer for each pane of stained glass it exports to Germany. Similarly, Germany can gain from trade as long as it receives more than of stained glass for each barrel of beer it exports to Italy. Based on your answer to the last question, which of the following prices of trade (that is, price of stained glass in terms of beer) would allow both Germany and Italy to gain from trade?a) 1 barrel of beer per pane of stained glass b) 10 barrels of beer per pane of stained glass c) 2 barrels of beer per pane of stained glass d) 17 barrels of beer per pane of stained glass

Business
2 answers:
OlgaM077 [116]3 years ago
8 0

Answer: The answer is c 2 barrel of beer per pane of stained glass

Explanation:

Since the theory of opportunity cost states that,to have a comparative advantage in a commodity, the opportunity cost of that country must be low.

Therefore the price of stained glass in terms of beer that would allow both Germany and Italy to gain from trade is

Opportunity cost = 11 /5

=2.2

Therefore the correct option is 2 barrel of beer per pane of stained glass

Dimas [21]3 years ago
3 0

Answer:

Explanation: See attachment below

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Answer:

The Correct Answer is B.

Sales tax.

Explanation:

Sales tax is the Tax imposed by the government body during the sale of the goods and services at a retail level.

While payroll tax is the tax which is imposed on the salary of the employees and this tax is imposed by the employer. payroll taxes are directly deducted from the salaries of the employees and directly paid to the internal revenue services by the employer.

8 0
3 years ago
A candidate for political office announces the following policies which, he says, economics clearly demonstrates will lead to hi
Leto [7]

Answer:

1. False 2. True

Explanation:

1. The candidate for political office announcing that the policy to reduce immigration from abroad which, he says, economics clearly demonstrates will lead to higher output in the long run; is false.

What increases output are the factors of production of which labor is a major component. When there are more people willing and able to work in an economy, <u>they help companies to produce more output but that is not the case when immigration is reduced, obviously that would reduce productivity and output.</u>

<u />

2. However his second claim is right, that making trade more open between the US and other countries will increase output on the long run.

Trade barriers like tariffs and duties impede the level of trade between countries which could either reduce the amount of money countries make after netting off custom duties or the price of imported goods are increased by the effect of tariffs. Increased price means reduced demand

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7 0
3 years ago
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Which of the following is one of the steps of the ethnographic research
jek_recluse [69]

Answer: participant observation, interviews and surveys. All of these ethnographic methods can be very valuable in gaining a deeper understanding of a design problem.

Explanation:

6 0
3 years ago
Which of the following 2 goods would most likely experience the law of increasing opportunity cost?
inn [45]
The correct answer would be A
8 0
3 years ago
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Feb. 2 Wrote a $350 check to establish a petty cash fund. 5 Purchased paper for the copier for $14.55 that is immediately used.
Nataly [62]

Answer:(1) Dr: petty cash $350, Cr: Cash $350, (2) Total delivery expense $16, Total Milleage expense $71, Total postage expense $65.55, Total merchandise inventory( Transportation -in) $42.4, Total office supplies $81.32, Petty Cash Balance $204.67 (3) a) Dr : Expenses $326.29, Cr : Cash $326.39 (b) Dr: petty cash $490, Cr: Cash $490

Explanation:

Journal entry to establish the petty cash fund

Dr : petty cash $350

Cr: : Cash $350

Journal entry to record the reimbursement

Dr : Expenses $326.39

Cr: Cash $326.39

Journal entry to record the increase in fund amount

Dr:petty cash $490

Cr: cash $490

Total delivery expenses $16

Total mileage expenses $71

Total postage expenses $65.55

Total merchandise inventory (Transportation -in) $42.4

Total office supplies $81.32

Amount received for reimbursement $326.39

Petty Cash Balance $204.67

7 0
3 years ago
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