Their economies are highly specialized and depend on international trade for their income.
<h3>What is
income?</h3>
Income is the consumption and saving opportunity gained by an entity over a given time period, which is usually expressed in monetary terms. Income is difficult to define conceptually, and definitions vary across fields.
Income is defined as the amount of money received by a person, group, or company over a specific time period. A salary of $70,000 per year is an example of income.
Income is money received by an individual or business in exchange for labor, the production of a good or service, or the investment of capital. Individuals typically earn money through wages or salaries, whereas businesses make money by selling goods or services for more than their cost of production.
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Explanation:
a. Total income formula is:
Y= C+I+G+NX
Y=20.1+3.5+5.2+(-1)
Y= $27.8 billion
b. In closed economies, income is calculated with this formula:
I=Y-C-G
I= 1.5-1-0.8
I= -$0.3 trillion
In open economies, income cannot be calculated because net exports (NX) data is missing.
c. NX is
NX= 576-445-115-81
NX= -$65 billion
NX is exports minus imports, in this case imports are more than exports. To calculate exports you need imports data.
Answer:
3. No, due to unilateral mistake
Explanation:
Lacey and Cagney both had agreed to wok for 30 hours per week and the agreement is in written format since it is enforceable. Both of them are sharing 50% profits so both will have to share the duties equally. When Lacey makes an excuse and is working for 20 hours per week only Cagney can sues her and she is in a probability to win against her. Lacey should have informed Cagney about the vacation from school scenario before signing the contract.
Answer:
They last for a certain period of time
Explanation:
Typically Certificates of Deposit are offered if the set amount is deposited and kept through the stated amount of time. (The length of the CD can be anywhere from 18 months to 3 years [most popular]) When the money is removed short of the stated time period a penalty is taken from the value of the CD.
Answer:
The correct answer is letter "C": financing activities.
Explanation:
Cash flow refers to transferring cash to, or from, an account, a company, or an investment. In the cash flow statement, there is a section called "<em>Financing Activities</em>" where all the net flow of cash to fund the entity is recorded. Those activities imply the <em>firm's equity, debt, </em>and <em>dividends</em>.
