First, we will calculate the net trade balance:
net trade balance = exports - imports = $5 billion - $16 billion = $-11 billions
Then, we will decide whether this is trade deficit or trade surplus. A trade surplus is when the value of exports is more than that of imports while a trade deficit is when value of imports is more.
From the mentioned values, it is clear that the US suffered from a trade deficit this year.
Value of trade deficit = $11 billion.
Answer:
1. Jake can easily determine that the price of the computer is more than the price of the vacation. ⇒ UNIT OF ACCOUNT
2. Jake has $1,574 in his checking account. ⇒ STORE OF VALUE
3. Jake writes a check for $1,299. ⇒ MEDIUM OF EXCHANGE
Explanation:
The four functions of money are:
- unit of account: since money is a common denominator, it helps to assign value to different goods and services.
- store of value: you can save money in order to purchase gods and services in the future.
- medium of exchange: you can purchase and sell goods and services using. money
- standard of deferred payment: money allows loans that require future payments of both principal and interest.
Answer:
Check the following explanation
Explanation:
Let us consider Porter’s Five forces strategy, in analyzing the particular scenario of Bank and that of the firm which produces T3MP chemical.
As the bank is an early mover in the issuance of ATM cards, the bank definitely got the competitive advantage. As an early mover, the bank faced very low threat of new entrants with regard to distribution of ATM cards. Therefore, the bank could capture a large area of urban region. Also, the switching cost for bank customers is quite high and in the case of banks, generally the individual customers prefer to stick to one or two banks. As an early mover, this was definitely an advantage to the bank. As a result, the bank also got a loyal customer base in the long run. When the brand loyalty was combined with the high switching cost of bank products; in terms of ATM, the entry of a potential competitor was difficult for the bank. Since the ATM cards are unique to each customer and bank, the ATM products adopts a generic differentiation strategy in terms of technology and point of locations. The place is definitely a competitive advantage of bank ATMs and being an early mover, they could capture a large share of customers in the urban areas.
As the ATM cards are specially made for the particular banks, they are definitely a tool for gaining advantage over the competitors. Hence the bank enjoys a definitive leadership in terms of its competitive advantage as an early mover where it could capture a large urban area, and in terms of technology where one bank’s ATM card doesn’t fit into another.
In the case of second firm, which has a 60 percent share of T3MP, faces the threat from substitute products. But T3MP has got the competitive advantage over its substitute product, due to the low bargaining power of customers. T3MP seems to have only a major substitute, whose market share seemed to have dented by the increase in price of the substitute. The low price of T3MP compared to the substitute is definitely a competitive advantage for the firm. This would decrease the competition from the substitute product which in turn will increase the sale of T3MP. Further, the substitute won’t be able to limit the growth of T3MP by setting a sealing price. The firm could increase its marginal returns through increased sale of T3MP. Thus the firm could capture the market share of the substitute which is twice as that of T3MP and could increase its revenue and earning potential.
Nancy, who was a Viagra saleswoman in Utah before moving to Florida, would be considered <u>frictionally unemployed</u>.
<h3>What is frictional unemployment?</h3>
Frictional unemployment exists in a situation when a person could be gainfully employed but decides to seek employment elsewhere.
The movement from employed status to seeking employment creates frictional unemployment.
Thus, Nancy, who was a Viagra saleswoman in Utah before moving to Florida, would be considered <u>frictionally unemployed</u>.
Learn more about frictional unemployment at brainly.com/question/11481076
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Answer:
The answer is "Option D".
Explanation:
Credit unions or financial institutions, among many others, have depository institutions. It provides customers with a reliable, stable but easy way of saving money or residences and businesses credits. The bank provides interest rates on deposits and uses that money to lend at rising interest rates.
Its main source of income for depositary entities is interest from loans. They build consumer deposits and facilitate economic development in households and businesses.