Answer:
a. Which country has the absolute advantage in producing dates?
Mali
b. Which country has the absolute advantage in producing grain?
None
c. Which country has the competitive advantage in producing dates?
Mali
d. Which country has the comparative advantage in producing grain?
Ireland
Explanation:
Opportunity cost of producing dates:
Ireland = 10 / 5 = 2 tons of grains
Mali = 10 / 25 = 0.4 tons of grains
Opportunity cost of producing grains:
Ireland = 5 / 10 = 0.5 tons of dates
Mali = 25 / 10 = 2.5 tons of dates
Generally accepted government auditing standards define and describe three broad types of audits that may be performed: financial audits, attestation engagements and performance audits.
<h3>What is Government?</h3>
A government is refer as administrative body which helps in the proper functioning of the country by maintaining peace and order by implementing laws and legislation describe in the constitution.
Generally accepted government auditing standards are refers as measures or guidelines provided by the government to calculate the or check the accountability and performance.
Learn more about Government, here:
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Answer and Explanation:
The journal entries are shown below:
1 Equipment $53,420
To Cash $53,420
(Being the equipment is purchased for cash is recorded)
The computation is given below:
= Cash price of machine + sales tax + shipping cost + insurance during shipping + installation and testing cost
= $49,500 + $3,650 + $100 + $60 + $110
= $53,420
2. Depreciation expense $9,614
To Accumulated Depreciation - Equipment $9,614
(Being the depreciation expense is recorded)
The computation is shown below:
= ($53,420 - $5,350) ÷ ( 5 years)
= $9,614
Answer:
c. Increase by $0.1 trillion
Explanation:
Investment spending Multiplier is a concept in economics that measure how a given change in investment increases output. So if current output of $13.5 trillion must increase to $14 trillion, we employ the multiplier formula to derive what amount of investment spending is needed to get $o.5trillion increase in output.
(change in output)/ (change in investment) = 1/(1-mpc)
Note that mpc means marginal propensity to consume.
Let change in investment = X
change in output = 14 - 13.5 = $0.5trillion
mpc = 0.8
(0.5)/X = 1(1-0,8)
0.5/X = 1/0.2
cross multiply
X = 0.1
Thus the needed change in investment is an increase of $0.1 trillion. In other words, if investment increases by $0.1 trillion, current output will increase from $13.5 trillion to $14 trillion.
