Answer:
$289,000
Explanation:
Item
Amount
Potential gross income (PGI)
$340,000
less: V&C allowance (at 15% of PGI)
51,000
Effective gross income (EGI)
$289,000
Answer:
A. Italy has a comparative advantage over the United States in producing wine.
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries. A country should specialise in the production of the good for whuch it has comparative advantage in and import goods for which it doesn't have comparative advantage in its production.
If Italy has comparative advantage in the production of wine and the US doesn't, Italy should produce wine and export to the US. While, US should produce pasta and export to Italy, if has a comparative advantage in the production of pasta.
A country has absolute advantage in the production of a good or service if it produces more quantity of the good when compared with other countries.
I hope my answer helps you
The reason that legal impossibility will act as a defense to attempt and factual impossibility will not is because it is legally impossible to commit a crime that does not exist.
Your capabilities, what you enjoy, what your good at, at what will provide the best.