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dsp73
3 years ago
13

Use the following scenario to answer the following questions: Suppose that Canada, an industrialized nation, and Mexico, a devel

oping nation, both produce clothes and cars. The real wage in Mexico is lower than in Canada. The countries have a free trade agreement. Each nation will find a comparative advantage.
A society could achieve a higher level of productivity if:________

a. each person in the society is a jack-of-all-trades.
b. it takes advantage of each individual's comparative advantage.
c. it does not trade with other nations.
d. it does not tax imported goods.
e. it does not limit exports.
Business
1 answer:
Delicious77 [7]3 years ago
8 0

Answer:

A society could achieve a higher level of productivity if:________

b. it takes advantage of each individual's comparative advantage.

Explanation:

In the same way that nations can achieve higher levels of productivity if each nation takes advantage of its comparative advantage in production, individuals in the society can help it to achieve a higher level of productivity if each individual takes advantage of her or his comparative advantage.  This economic concept calls for specialization in the fields where one has comparative skills that are better than others'.  This implies that one can deploy resources and skills to achieve more in a specialized field than being a jack-of-all-trades.

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Lefave, Inc., manufactures and sells two products: Product Q1 and Product D5. Data concerning the expected production of each pr
Travka [436]

Answer:

Predetermined manufacturing overhead rate= $29.59 per direct labor hour

Explanation:

Giving the following information:

Total direct labor-hours 15,755

Total overhead:

Labor-related DLHs= $172,482

Product testing tests= $68,909

General factory MHs= $224,825

Total= $466,216

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 466,216/15,755

Predetermined manufacturing overhead rate= $29.59 per direct labor hour

5 0
3 years ago
One role of marketing communications in the problem recognition stage of the purchase decision-making process is to:
vlada-n [284]

Answer: help distribution partners identify product availability problems.

Explanation:

The options are:

a. alert the company about problems in conveying a message to target consumers.

b. resolve consumer problems with customer service outreach.

c. remind consumers of existing needs.

d. help distribution partners identify product availability problems.

e. educate consumers about features and benefits.

One role of marketing communications in the problem recognition stage of the purchase decision-making process is to help distribution partners identify product availability problems.

It should be noted that marketing communications can help identify the needs or problem that consumers have.

6 0
3 years ago
When firms in a perfectly competitive market face the same costs, in the long run they must be operating a. under diseconomies o
ella [17]

Answer:

d. where price is equal to average fixed cost.

Explanation:

Firms involved in a perfectly competitive market face the same cost, <em>they will theoretically make zero profit on the long run.</em> This happen at the point where price is equal to average fixed cost.

7 0
3 years ago
which protects tricare beneficiaries from devastating financial loss due to serious illness or long-term treatment by establishi
Ipatiy [6.2K]

The factor that protects Tricare beneficiaries from devastating financial loss due to serious illness or long-term treatment by establishing limits over which payment is not required is known to be called catastrophic cap benefit.

<h3>What is catastrophic cap benefit?</h3>

The catastrophic cap is known to be a word that connote the highest or maximum a person and their family can be able to pay so that they can be able to covered TRICARE health care services in all of the calendar year.

Note that this is known to be a plan that tends to protects a person due to the fact that it lowers the amount in terms  of the out-of-pocket expenses a person need to pay for TRICARE covered medical services.

Therefore, The factor that protects Tricare beneficiaries from devastating financial loss due to serious illness or long-term treatment by establishing limits over which payment is not required is known to be called catastrophic cap benefit.

Learn more about catastrophic  benefit from

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3 0
1 year ago
PLEASE HELP IM ON PLATO BTW GET IT RIGHT CUH
Rasek [7]

Answer:

✔️Demand Pull Inflation:

1. Too much money chasing too few goods

2. Stiff competition among consumers

✔️Cash Pull Inflation:

1. Increase in cost of production

2. Decrease in supply of goods and services

3. Aim of sellers is to maximize profit

Explanation:

Demand pull inflation is often caused by the increase in the aggregate demand of outputs than an economy can produce as a result of increased government spending, expanding economy and so on.

On the other hand, cash pull inflation is caused by the decrease in aggregate supply of goods and supply as result of increased cost of the factors of production.

Thus, let's match each description to the types of inflation they belong to:

✔️Demand Pull Inflation:

1. Too much money chasing too few goods (excess demand as a result of expanding economy)

2. Stiff competition among consumers (businesses, households, governments and foreign buyers bid prices up and compete to purchase the limited available goods and services)

✔️Cash Pull Inflation:

1. Increase in cost of production (this pushes the cost of goods and services up)

2. Decrease in supply of goods and services (aggregate supply decreases)

3. Aim of sellers is to maximize profit (as production cost increase, sellers would have to increase the price of goods and services in order not to run at a loss).

7 0
3 years ago
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