Answer:
With specialization Iran will be able to consume 1.7 bottles of olive oil.
Explanation:
Iran produces 4 barrels of oil and 6 bottles of olive oil.
Iraq produces 4 barrels of oil and 4 bottles of olive oil.
The opportunity cost of producing a barrel of oil for Iran
= 
= 1.5
The opportunity cost of producing a barrel of oil for Iraq
= 
= 1
Iraq has a lower opportunity cost for producing oil so we can say it has a comparative advantage in producing oil.
The opportunity cost of producing a barrel of olive oil for Iran
= 
= 0.66
The opportunity cost of producing a barrel of olive oil for Iraq
=
= 1
Iran has a lower opportunity cost for producing olive oil so we can say it has a comparative advantage in producing it.
The terms of trade with specialization are 4 barrels of oil for 4.3 bottles of olive oil, and that 4 barrels of oil are indeed traded for 4.3 bottles of olive oil.
Without trade, Iran is consuming 4 barrels of oil and 6 bottles of olive oil.
With specialization, Iran will be able to consume
= 6 - 4.3
= 1.7 bottles of olive oil
Answer:
a. Current Account.
b. A credit to the Current Account.
Explanation:
When people go to another country for work and send the income they make back to their country of origin as remittances, this goes to the Current Account of a nation's Balance of Payments.
It would be recorded as a credit to this account because when money goes out, it goes to the credit side of the U.S. BOP as it is being exported out so is leaving the economy of the U.S.
Answer:
Loss of $200,000
Explanation:
Carrying value of bond = $1,000,000 - $100,000
Carrying value of bond = $900,000
Cash paid on bonds = $1,100,000
Loss on bond = Cash paid on bonds - Carrying value of bond
Loss on bond = $1,100,000 - $900,000
Loss on bond = $200,000
Answer and Explanation:
The Journal entry is shown below:-
1. Sales Revenue Dr, $42,030
Rent Revenue $300
To Salaries and Wages Expense $21,600
To Depreciation Expense $1,300
To Utilities Expense $4,220
To Insurance Expense $1,400
To Rent Expense $6,000
To Income Tax Expense $2,900
To Retained Earnings $4,910
(Being closing of revenues and expenses is recorded)
2. Retained Earnings Dr, $300
To Dividends $300
(Being closing of dividend is recorded)
The policy is not practical because it is not enforceable. Lots of shops or businesses will not practice this as it will scare customers away.
<h3>Why is the policy not fair?</h3>
The policy is not fair because throw away paper is recyclable while plastic bags are not. Hence people who use paper should not be charged as much as those who use plastic bags, if at all.
<h3>What is the saving due if a person brings their own container to bag their groceries?</h3>
They most likely wills save 5% on every purchase made.
<h3>Why are environmental policies important?</h3>
The goal of environmental law is to safeguard the
- land,
- air,
- water, and
- soil.
Infractions of these rules result in a variety of penalties, including fines, community service, and, in severe circumstances, jail time.
Without environmental regulations, the government would be unable to penalize people who harm the environment.
Learn more about environmental policies:
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