Answer:
Spain for the first part and Austria for the second part.
Explanation:
The solution to the question is to determine which of the countries have a comparative advantage in producing stained glass among the two countries.
Comparative advantage represents the ability of an economy or country to produce a good or render a service at opportunity costs lower than other countries or fellow trade partners. Ability to produce at lower opportunity costs simply means that country or economy will produce the good at a lower cost and realise stronger margins in terms of sales and profit.
<u>Spain's opportunity cost of producing a pane of stained glass is 5 bushels of rye</u>
<u>While Austria's opportunity cost of producing the same pane of stained glass is 10 bushels of rye.</u>
Therefore, Spain has a lower opportunity cost and has comparative advantage over Austria in producing stained glass.
Also, Austria has a comparative advantage over Spain in the production of rye.
Answer:
d. debit Accounts Receivable; credit Cash
Explanation:
The cash has been credited with $695 instead of $965 which means that $270 has been credited short. Same way, the liabilities have been debited by $270 short. So, we will have to reverse the entry ie. debit Accounts Receivable; credit Cash
Answer:
66.67%
Explanation:
Given that,
Enrollment of new students per semester (Desired capacity) = 2,100
Holly Lutze, placed a ceiling on enrollment of new students = 1,600
Conflicting schedules allowed only (Actual intake) = 1,400 new students
Therefore,
The utilization rate for Southeastern:
= 66.67%
Answer:
Explanation:
If the government changes taxes without changing government spending to eliminate the recessionary gap, will the minimum required change in taxes be greater than, smaller than, or equal to the minimum required change in government spending?
The minimum required change in taxes will be greater than that of the minimum required change in government spending
tax multiplier (mpc/mps = 0/8/0.2=0.4) is smaller than the government spending multiplier (1/mps= 1/.2=5) because of the initial increase in disposable income caused by the decrease in income tax will be saved rather than spent
