Answer:
trade deficit
Explanation:
From the question, we are informed about Snowland and Pledza are neighboring countries. Pledza imports more products than it exports. Over the last decade, Pledza imports from Snowland have been rapidly increasing but not fast enough to offset the exports to Snowland. In this case we can say about Pledza has a trade deficit. trade deficit also known as "negative balance of trade" can be described as a method to measure international trade. It can be regarded as the amount by which cost spent on the imports in a country exceeds the cost of exports. We can calculate trade deficit by finding the difference in value of exports of country and its imports.
Answer:
Even when competitive firms are unable to calculate marginal revenue product directly, <u>competition in the labor market</u> will push wage rates toward the marginal revenue product of labor.
Explanation:
The labor market is made up of employers seeking for labor and employees offering their labor services. The law of supply and demand also applies to this market, when more employers are seeking employees, the price (= salary) will increase.
For example, if many companies are making a profit and they need more labor, the salaries will rise because the demand is rising.
Also the suppliers, the potential employees, compete against each other for the best possible jobs.
An overgrown lawn is manicured by mowing it with a lawn mower is an example of physical change. Physical change is a change that affects the physical form of the substance or environment but not its chemical composition. In this example, the lawn is manicured by mowing it, so the physical form would be changed. But, the chemical composition of the lawn was maintained and was not change. So,<span> this is clearly a physical change.</span>
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Answer:
Absolute, Comparative, Opportunity cost, Gains of trade, Not possible
Explanation:
The terms that will be filled in these blanks are economic terms that are used often in the business. The completed sentences have been written below -
- To have absolute advantage means to be able to produce more using the same resources.
- To have comparative advantage means to have a lower opportunity cost.
- Comparative advantage is the basis for gains of trade.
- It is not possible for one producer to have a comparative advantage for every good.
