Answer: C) included in U.S. GNP, but it is not included in U.S. GDP
Explanation: The gross national income also known as the gross national product (GNP) can be simply defined as the measure of the value of products and services produced or provided by the citizen of a country whether the production of such goods and services took place within the country (domestic) or abroad (foreign).
On the other hand, Gross domestic product (GDP) is the measure of the value of products and services produced or provided by non citizens and citizens of a country as long as the production took place within the borders of the country (domestic).
So if Thomas who is a US citizen should work in Canada (abroad/foreign), the Value of the output he produced will be included in U.S. GNP since he is a citizen of US, but will not be included in U.S. GDP since the work wasn't within the borders of US.
Answer: it can produce that good using fewer resources than its trading partner
Explanation:
A country has an absolute advantage in the production of a good when such country can produce the good using fewer resources than another country.
Absolute advantage can be due to the natural endowment of a country. For example, let's say Japan uses 2 hours in producing a good while Brazil uses 5 hours in producing such good. Then, it can be deduced that Japan has an absolute advantage over Brazil.
Answer:
Dr Interest Receivable $30
Cr Interest Revenue $30
Explanation:
Based on the information given we were told that Callison accepts an interest bearing note receivable for the amount of $1,000 in which the note has the interest of 12%,This means that journal entry on December 31, Year 1, to accrue interest will include:
Dr Interest Receivable $30
Cr Interest Revenue $30
Calculated as :
Accrued interest =12%×$1,000×(3/12)
Accrued interest=$30
<span>Gilleo should win. This is because though acknowledging
Ladue's police power to lessen visual disorder connected with signs, the Court
ruled that the law of Ladue "almost completely foreclosed a venerable
means of communication that is both unique and important." So the Court
held a "special respect" for a persons right to communicate messages
from his/her home.</span>
I'd say that D. all of the above would result in a positive net worth. So, lowering mortgage by $1,000, increasing investment fund by $500, and a<span>dding $100 to savings.</span>
