Answer:
a.Georgeland has an absolute but not a comparative advantage in producing clothing.
Explanation:
A country has a comparative advantage in production if it produces at a lower opportunity cost when compared with other countries.
A person has an absolute advantage in production if it produces more quantities of the good when compared with other countries.
Georgeland produces more quantities of both food and clothes when compared to Alland, so it has absolute advantage in both activities .
The opportunity cost of georgeland in producing clothes = 36 / 18=2
The opportunity cost of georgeland producing food = 18 / 36 = 0.5
For Alland,
the opportunity cost of producing clothes = 32 / 16= 2
the opportunity cost of producing food = 16 / 32 = 0.5
Neither countries don't have a comparative advantage in the production of either clothes of food bedside they have the same opportunity costs in both activities.
I hope my answer helps you
Answer: Not a wise investment as Cost exceeds Receipts.
Explanation:
As the amount is a constant payment, it is an annuity and as it is in future we are looking for the future value of an annuity:
Future Value of Annuity = Annuity * [ ( 1 + rate ) ^ time period - 1] / rate
= 7,000 * [ ( 1 + 5%)⁸ - 1] / 5%
= $66,843.76
Speculator pays $66,843.76 for loan and sells for $50,000.
The speculator would be paying more for the loan than they will sell the land for so this is not a wise investment.
Susan is more likely to live in poverty because without a college degree, you are less likely to have a higher paying job
Answer: Rumination
Explanation: Rumination can be defined as the mental situation in which an individual only focuses on the symptoms and causes of a distress and not on its solution.
In the given case, Janice constantly worries that her work is not satisfactory and by thinking it too much she starts suffering from other diseases like insomnia.
Hence, we can conclude that Janice is suffering from Rumination.
