Answer: All of these are correct
Explanation:
South Korea
Opportunity cost of Computer chips = 50/100 = 0.2 bed linens
Opportunity cost of bed linens = 100/50 = 2 computer chips
USA
Opportunity cost of Computer chips = 100/150 = 0.67 bed linens
Opportunity cost of bed linens = 150/100 = 1.5 computer chips
Country with Comparative advantage in the production of a good is one that incurs the lower opportunity cost.
Country with Absolute advantage is county that produces the most quantity of a good or service.
Therefore;
<em>US has Absolute advantage in both Computer chips and Bed linens. </em>
<em>South Korea has comparative advantage in Computer chips. </em>
<em>US has comparative advantage in bed linen manufacturing. </em>
Answer:
Accounts payable
Explanation:
In accounting, the term accounts payable refers to the money that is owed by a business to its suppliers, in other words, it refers to the business' short-term debts.
When merchandise is purchased on account and it is returned under the perpetual inventory system, the buyer would then debit accounts payable since it is money that the company would owe to the buyer.
Answer:
$36,000 increase
Explanation:
For computing the increase or decrease in income, first we have to determine the net cash outflow which is shown below:
Net cash outflow = Purchase of new spotter truck - sale value of old truck
= $120,000 - $31,000
= $89,000
Now the increase or decrease would be
= Variable manufacturing cost for five years - net cash outflow
= $25,000 × 5 years - $89,000
= $125,000 - $89,000
= $36,000 increase
Answer:
Promoting right to work laws.
Explanation:
This is situation where by laws are put in place to stop firm from hiring alternative supply of labour so as to increase monopolistic power on wage determinant and increase of employment opportunities through unionism.
