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3 years ago

Bill smith economic influences

Business

1 answer:

dusya [7]3 years ago

7 0

I don't really know of Bill Smith but I know Adam

Smith's best - known ideas formed the basis of economic theory , including the invisible hand theory ( the idea that free - markets coordinate themselves ) , the division of labor ( the idea that people should specialize in specific tasks ) , and the measurement of economic activity ( Gross Domestic Product ) .

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If the value of imports for the current year is $3 billion and the value of exports is $8 billion, what effect will this have on

Katena32 [7]

Trade balance is calculated by subtracting imports from exports. In this case, exports are higher than imports which means we have a favorable trade balance. If imports were more than exports, you would have a negative trade balance.

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3 years ago

What huge Christmas gift did France give to the United States of America in 1886?

chubhunter [2.5K]

<span>♥The Statue of Liberty was given by the french as a Christmas present. </span>

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3 years ago

Read 2 more answers

Diminishing returns to physical capital means that when the amount of human capital per worker and the state of technology are h

-BARSIC- [3]

Answer:

a. a smaller increase in the marginal product of labor.

Explanation:

The law of diminishing returns to physical capital states that as more and more input are added to fixed factors of production, output increases at a decreasing rate.

For there to be output growth, physical capital should be increased less than human capital and technological progress.

I hope my answer helps you

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3 years ago

Explain consumptions of the principal of absolute advantage

DENIUS [597]

Answer:

The Absolute Advantage Theory assumed that only bilateral trade could take place between nations and only in two commodities that are to be exchanged.

Explanation:

In economics, the principle of absolute advantage refers to the ability of a party (an individual, a firm, or a country) to produce more of a good or service than competitors while using the same amount of resources.

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3 years ago

Constable Co. reported the following information at December 31, Year 1: Accounts Payable $ 4,620 Accounts Receivable 9,470 Cash

avanturin [10]

Answer:

The total of the credit balance accounts is $117,260

Explanation:

In the classified balance sheet, we summarize the asset and liabilities into various types

Like assets are divided into fixed assets, current assets, and intangible assets.

Likewise, liabilities are also divided into current liabilities, long term liabilities

In every balance sheet, the accounting equation has used that means

Total assets = Total liabilities + Shareholder equity

The total assets have the debit balances whereas the total liabilities and the shareholder equity have the credit balances

So, The computation is shown below:

= Accounts Payable + Common Stock + Notes Payable + Retained Earnings + Wages Payable

= $4,620 + $91,200 + $2,620 + $14,210 + $4,610

= $117,260

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2 years ago