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3 years ago

Over time, the average consumer will be better off from reduced trade barriers by ________.

Business

1 answer:

AVprozaik [17]3 years ago

6 0

Answer:

a. greater variety and lower prices

Explanation:

Due to the comparative advantages, countries can produce the product that they have proficiency. For example, if there are 2 countries, A and B. A have a skill of producing tasty wine, they can produce better quality of wine than B with the lower cost. When the trade barriers are reduced, the wine from A will be sold in B, the customer will have more choices of wine in the market and the price will relatively less different comparing to the price when the high barriers exist.

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3 years ago

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2 years ago

The term ___________________ describes the proportion of deposits that the bankmust hold in the form of reserves that are not lo

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3 years ago

A summary of cash flows for Adventure Travel Service for the year ended April 30, 2019, follows:

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Answer:

Adventure Travel Service

Statement of cash flows for the year ended April 30, 2019

Cash flow from Operating Activities

Cash receipts from customers $2,080,000

Cash payments for operating expenses ($1,706,000)

Net Cash from Operating Activities $374,000

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Net Cash from Financing Activities $20,000

Movement in Cash and Cash Equivalents ($6,000)

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3 years ago

Oaktree Company purchased new equipment and made the following expenditures:

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Answer:

The Journal entries are as follows:

(1)

Equipment A/c Dr. $71,890

To cash $3,790

To accounts payable $68,100

(To record the purchase of equipment)

Workings:

Equipment value:

= Purchase price + Sales tax + Freight charges for shipment of equipment + Installation of equipment

= 64,000 +4,100 + 890 + 2,900

= $71,890

Cash Paid:

= Freight charges for shipment of equipment + Installation of equipment

= 890 + 2,900

= $3,790

Accounts payable = Purchase price + Sales tax

= 64,000 +4,100

= $68,100

(2)

Prepaid Insurance A/c Dr. $1,090

To cash A/c $1,090

(To record any expenditures not capitalized in the purchase of equipment)

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3 years ago