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Rufina [12.5K]
3 years ago
12

The gains from trade are a. a result of more efficient resource allocation than would be observed in the absence of trade. b. ev

ident in economic models, but seldom observed in the real world. c. evident in the real world, but impossible to capture in economic models. d. based on the principle of absolute advantag
Business
1 answer:
uranmaximum [27]3 years ago
6 0

Answer:

The answer is: a

Explanation:

Gains from trade arise as a result of comparative advantages. A country has a comparative advantage if it is able to produce a good or provide a service more efficiently than another country given its resources. A country has an absolute advantage if it can produce more of a good or provide more of a service given that the resource quantities are the same. Gains from trade increase the consumption possibilities of a country by increasing specialisation in areas where the country has comparative advantages and trading in areas where they do not have comparative advantages. Gains from trade are evident in the real world as countries have entered into trade agreements to foster such gains, a prominent example would be the European Union.

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Which of the following is TRUE regarding unexpected expenses?
kaheart [24]

Answer:

They should be planned for.

Explanation:

Unexpected expenses include emergencies and other unforeseen costs that a person incurs in day to day activities.  These unexpected expenses must be paid for, which means resources must come from somewhere to effect the payments.

The best way to cater to unexpected expenses is to include them in the budget. Contingencies is the term used to describe funds kept aside to settle unexpected expenses. Without a contingency arrangement, unexpected expenses will affect the budget and a person's ability to pay normal bills.

4 0
2 years ago
What is the positive impact of Commerce subject on our society?​
kkurt [141]

Answer:

E-commerce facilitates the fundamental movement of goods from suppliers to customers. They offer an ideal commerce development to do digital business and improve the global presence. E-commerce has altered the workflow of the business

5 0
2 years ago
The Eastern District of Adelson Inc. is organized as a cost center. The budget for the Eastern District of Adelson Inc. for the
irinina [24]

Answer:

                         Eastern District: Adelson Inc.

                         Budget Performance Report

                   For the Year Ended December 31, XX

                                             Actual               Static             Variance

                                             <u>results              budget                           </u>

Sales salaries                       $818,880       $819,840              -$960

System adm. salaries          $447,720       $448,152               -$432

Customer service salaries   $183,120       $152,600          $30,520

Billing salaries                        $98,100        $98,760               -$660

Maintenance                       $273,000         $271,104             $1,896

Depreciation of P & E           $92,232         $92,232                    $0

Insurance and prop. taxes    $41,400          $41,280                $120

Total                                  $1,954,452       $1,923,968       $30,484  

Explanation:

A budget performance report shows how the actual costs and/or revenues perform according to the planned budget. A negative sign on the variance column shows a favorable variance (lower costs or higher revenues), while a positive sign shows an unfavorable variance (higher costs or lower revenues).

3 0
3 years ago
​Gulfcoast, Inc. purchased a van on January​ 1, 2019, for $ 900 comma 000. Estimated life of the van was five​ years, and its es
Zarrin [17]

Answer:

$740,200

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,  

Depreciation = (Cost - Salvage value)/Estimated useful life

Depreciation = (900,000 - 101,000)/5

= $159,800

Book value is the cost net accumulated depreciation

= $900,000 - $159,800

= $740,200

4 0
3 years ago
With only a​ part-time job and the need for a professional​ wardrobe, Rachel quickly maxed out her credit card the summer after
choli [55]

Answer:

a. It will take her 5 years to pay for her wardrobe

b. She should shop for a new card once she is done paying for this one.

c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.

Explanation:

Use the formula below to determine the number of months it would take Rachel to pay off her debt;

C *{1-(1+r)^(-n×t)}/(r/n)=PV

where;

C=annuity

r=annual interest rate

n=number of compounding periods in a year

t=number of years

PV=present value

In our case;

PV=$10,574

C=$260

r=16%=16/100=0.16

n=12

t=unknown

replacing;

260*{1-(1+0.16/12)^(-12×t)}/(0.16/12)=10,574

1-(1+0.16/12)^(-12×t)={10,574×(0.16/12)}/260

1-{1.013^(-12 t)}=0.542

(1-0.542)=1.013^(-12 t)

ln 0.458=-12 t (ln 1.013)

t=-ln 0.458/12×ln 1.013

t=5

It will take her 5 years to pay for her wardrobe

b. She should shop for a new card once she is done paying for this one.

c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.

3 0
3 years ago
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