If the world price is $1.00 per pound. Assuming the small-country model is applicable and no transportation costs, the United States will import copper.
<h3>What is import?</h3>
Import can be defined as the process of bringing in goods produce in another country into your own country so as to sale them in your own country.
Since the world price is $1.00 per pound and United states price is $1.20. If no transportation cost importing copper into United state will be the best choice as this will help to lower cost.
Therefore assuming the small-country model is applicable and no transportation costs, the United States will import copper.
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Increases outputs by smaller and smaller amounts.
Diminishing returns means that at a certain point with all other factors equal, increasing the inputs will yield more and more decreased outputs.
Answer:B. are always completely flexible
Explanation:The classical theory proposes that all markets reequilibrate because of adjustments in prices and wages which are flexible. For instance, if an excess in the labor force or products exist, the wage or price of these will adjust to absorb the excess. If prices and wages are flexible, markets reequilibrate.
Wages are said to be flexible when they respond to changes in supply and demand and lead to the market clearing wage being set. It implies that the wage will be set by the Marginal Revenue Product of labour and marginal cost of labour. Any change in supply and demand for labour will lead to a change in the wage rate.
The importance of wage flexibility arises from the fact that, in most macroeconomic models, we find an inverse relationship between wages and employment.
Answer: Option B
<h3>
Explanation: This could be calculated as follows :-</h3><h3>
</h3><h3> = $2880</h3><h3>Principal repayment for the month = $25,588 - $2880</h3><h3> = $22,708</h3><h3>similarly:-</h3><h3>
</h3>
therefore,
total interest expense = 2880 +2653 =$5,533
Answer:
e. university-trained lawyers
Explanation:
The degree of all monarchies was bureaucracy. It is impossible for a single figure to rule the whole country. In particular, the Middle Ages are as complex as France. Kings have governments, courts, and ministers, just like today's governments. However, the medieval period was characterized by feudalism and decentralization of the government, and France was no different. In most cases, the vassals of the kings went beyond the king's power or grew. So instead of the "French" invasion we see events such as the "Norman" invasion of England. Absolutely soveraeignty was not established until the early Renaissance. The staffing process was because of university trained lawyers.