What are the relative merits of three trade agreements and alliances? WTO governs international trade. NAFTA is with North America. EU is Europe's trading bloc.
Trade agreements are essentially pacts between various countries that allow of trade between them. The trade is constructed and based on setting up tax, tariff and treaty agreements that allow for the participants to have investments within the trade. Two or more countries participate on the terms of their trade agreements which allows them to trade with one another.
Answer:
Newbill's labour rate variance
= (Standard rate - Actual rate) x Actual hours worked
= ($19.60 - $19.40) x 26,000 hours
= $5,200(F)
Actual rate
= <u>Actual payroll cost</u>
Actual hours worked
= <u>$504,400</u>
26,000 hours
= $19.40
Explanation:
Labour rate variance is the difference between standard rate and actual rate multiplied by actual hours worked. Actual rate is actual payroll cost divided by actual hours worked.
B. Money supply and demand, balance of payments, unfavorable payments
In equilibrium : Y = AE
<span>Y = $3,600 - 0.8Y
</span><span>Y + 0.8Y = $3600</span>
<span>1.8Y = $3,600
</span>Y = $3,600/1.8
Y = $2,000
