Answer:
C. A country can specialize in producing that for which it has a comparative advantage and then trade for other needed goods and services.
Explanation:
<em>Comparative advantage</em> is simply evaluating the opportunity cost of other benefits or costs, if the country is opting to choose for a specific category of goods for production purposes.
For example, let's say US can produce 20 Television (TV) sets and 50 Air Conditioners in a month. Here, the opportunity cost of producing 1 TV set is 50/20 i.e. 2.5 Air Conditioners. Similarly, the opportunity cost of producing 1 Air Conditioner (AC) is 20/50 i.e. 0.4 TV set. Hence, US should produce Air Conditioners over TV sets as per <em>Comparative Advantage</em> concept.
Take another example, let's say UK can produce 50 Television (TV) sets and 20 Air Conditioners in a month. Hence, the opportunity cost of producing 1 TV set is 20/50 i.e. 0.4 Air Conditioner. On the other hand, the opportunity cost of producing 1 AC is 50/20 i.e. 2.5 TV sets. Thus, UK should produce TV sets over AC's as per <em>Comparative Advantage </em>model.
Hence, US should export AC's to UK and import TV sets from UK to gain from specialization and trade.
<em> In this way nations can gain from specialization and trade by making use of Comparative Advantage theory</em>.
It is to be noted that <em>Absolute Advantage model </em>of Adam Smith is also good as it highlights production of that good by a country, which it can produce in large quantities with fewer resources and minimal time than any other nation in the world. But the <em>Comparative Advantage Model </em>developed by David Ricardo considers opportunity cost and is much more refined than Absolute Advantage Model.
<em></em>
Disability income insurance will provide income to a disabled or ill person with a waiting period before income is received. Commonly, when a person applies for disability income insurance and is taking out money from the government for disability there is a period of waiting. During this period they review all information given and decides whether or not the person applying actually qualifies for the funds they are wanting to receive. Most states have a set time frame they have to wait and also a set time frame of how long people can receive funds for.
The answer is c , assume compan used traditional costing stystem
Answer:
IRCA(Immigration Reform and Control Act of 1986)
FLSA(Fair Labor Standards Act)
Explanation:
The Immigration Reform and Control Act (IRCA) forbids employers from recruiting/hiring any foreign citizen that doesn't have a proper work authorization. That means that all Centinix's employees should have a green card.
The Fair Labor Standards Act (FLSA) sets the federal standards for minimum wage, overtime pay, record keeping, and child labor. This includes any full time or part time worker employed by Centinix.
