Answer:
According to supporters of globalization,
b.
Free trade will result in countries specializing in the production of those goods and services they can produce most efficiently.
Explanation:
Globalization has been described as a phenomenon that encourages increased interaction and integration of peoples, companies, and governments from different backgrounds. This phenomenon or process is propelled by free international trade and investments. The emerging advances in information technology has made globalization possible.
Answer:
A) debit interest expense, $1000
Explanation:
to determine the accrued interest expense = $100,000 x 6% x 2/12 = $1,000
the journal entry should be:
December 31, 2018, accrued interest expense on note payable:
Dr Interest expense 1,000
Cr Accrued interest payable 1,000
Accrual accounting establishes that expenses must be recognize during the period that they occur regardless of when they are paid. So we must recognize 2 months worth of interest.
Answer:
Option (a) is correct.
Explanation:
U(x1, x2) = x1x2
Income = 100 dollars
Therefore,
Alex budget constraint is $100.
(a) (12.5, 12.5)
Cost of this bundle = 12.5 × $4 + 12.5 × $4
= $50 + $50
= $100
(b) (25, 12.5)
Cost of this bundle = 15 × $4 + 10 × $5 + 12.5 × $4
= $60 + $50 + $50
= $160
This bundle is not possible because of budget constraint.
(c) (12.5, 25)
Cost of this bundle = 12.5 × $4 + 25 × $4
= $50 + $100
= $150
This bundle is not possible because of budget constraint.
(d) (15, 10)
Cost of this bundle = 15 × $4 + 10 × $4
= $60 + $40
= $100
Hence, it is possible to buy bundle (a) and (d).
Utility function for (a) and (d) bundle:
(a) (12.5, 12.5)
Utility = 12.5 × 12.5
= 156.25
(d) (15, 10)
Utility = 15 × 10
= 150
Therefore,
Alex will choose bundle (a) (12.5, 12.5) because this will give maximum utility.
Answer:
It is more profitable to sell the product as it is.
Explanation:
Giving the following information:
McPupper Steel has products that can be sold for $13,000, or could be reworked at a cost of $3,400 and sold for $16,000.
To calculate the convenience of continue processing the product, we need to deduct from the final selling price the rework costs and compare it to the original price.
Effect on income= 16,000 - 3,400= $12,600
It is more profitable to sell the product as it is.
1. In a free market economy, not all consumers have the same chance to determine what is produced because this determination is based on the industries' strategy.
That is, the producers of goods and services will develop a way to generate profit by producing and selling certain products that will reach a greater number of consumers.
2. In a free market system, prices will influence resource allocation because the price consumers are willing to pay for a good demonstrates the value of the product.
This means that the more consumers willing to pay higher prices for a product, the more companies will allocate resources to produce such products valued by consumers.
<h3 /><h3>What is a free market system?</h3>
It is an economic system where there is less government intervention, that is, goods and services are traded through a private property system, where there are various companies whose purpose is to generate profit.
Therefore, the free market is influenced by the law of supply and demand, which defines market dynamics, price, quantity supplied and competitiveness.
Find out more about free market system here:
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