Answers
The federal reserve sets the reserve requirement at 12 percent, banks hold 500 million reserves, and 60 million currency is held.
The Federal Reserve gadget is the critical banking gadget of the us of the usa. It became created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of monetary panics led to the desire for valuable manage of the monetary machine a good way to alleviate economic crises.
The Federal Reserve Act of 1913 gave the Federal Reserve obligation for putting financial coverage. The Federal Reserve controls the 3 tools of economic policy--open market operations, the bargain fee, and reserve requirements.economic policy in the united states of america accommodates the Federal Reserve's moves and communications to promote maximum employment, strong fees, and moderate lengthy-time period interest fees.
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Related Questions
Question 9 of 10
One way to maintain good credit is to:
A. keep a high debt-to-credit ratio.
B. make numerous applications for credit.
C. lower your balances.
D. open many credit accounts.
SUBMIT
Answers
To maintain good credit, it is important to lower your balances. By keeping your credit card balances low compared to your credit limits, you demonstrate responsible credit management and show lenders that you can manage your debts effectively.
Option C. lower your balances. is correct answer.
To maintain good credit, it is important to adopt responsible financial habits. One way to achieve this is by lowering your balances. Keeping low credit card balances compared to your credit limits demonstrates financial discipline and responsible credit management. This indicates that you are not overly reliant on credit and are able to manage your debts effectively.Lowering your balances helps to keep your credit utilization ratio low, which is the percentage of your available credit that you are currently using. A low credit utilization ratio is seen as favorable by lenders and credit bureaus as it indicates a lower risk of defaulting on payments. Aim to keep your balances below 30% of your credit limits, and the lower, the better.On the other hand, options A, B, and D are not advisable for maintaining good credit. Keeping a high debt-to-credit ratio (option A) can indicate a heavy reliance on credit and a higher risk for lenders. Making numerous credit applications (option B) can negatively impact your credit score due to the potential for multiple hard inquiries. Opening many credit accounts (option D) can also have a negative impact, as it can lead to potential overspending and difficulty managing multiple accounts.In conclusion, one effective way to maintain good credit is by lowering your balances, keeping your credit utilization ratio low, and demonstrating responsible credit management.For more questions on credit limits
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what type of occupation do you prefer to do any why
Answers
Answer:
a hands on occupation
Explanation:
I dont like sitting around
In a private enterprise economic system, the interaction of supply an demand primarily determines
Answers
The Karl DeLong Estate (with a taxable value of more than $16,500,000) includes the following assets:
200 shares of common stock in the DeLong family corporation (valued at $3,580,000)
1,000 shares of common stock in a large public utility that trades more than 100,000 shares per day (valued at $1,560,000)
Certificates of deposit (valued at $520,000)
Three commercial buildings located in an older part of town where values are decreasing rapidly (valued at $4,525,000)
Which valuation technique could best be used to reduce the value of Karl's gross estate?
A) A fractional interest (co-ownership) discount on the DeLong family stock
B) A blockage discount on the public utility stock
C) Special use valuation on the CDs
D) The alternate valuation date for all assets
Answers
The best valuation technique to reduce the value of Karl's gross estate is C) Special use valuation on the CDs.
What is special use valuation?Special use valuation is a valuation method that determines property value on the basis of its “current use” rather than its “highest and best use.”
Special use valuation is permitted by the Internal Revenue Code (IRC) Section 2032A.
However, the special use valuation method is for real estate and not CDs.
Thus, the best valuation technique to reduce the value of Karl's gross estate is C) Special use valuation on the CDs.
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Which of the following is a main reason to reconcile your own records or
check register with a bank statement?
A. To identify errors made by the bank
B. To set up automatic bill payment
C. To identify checks that have bounced
D. To have the bank cover your shortfalls
Answers
Explanation:
To identify errors made by the bank.
give the meaning of office machine
Answers
Answer: Equipment
Explanation:The equipment used in an office; for example: phones, computers, and printers. ... These markets cover computers and other machines for workplaces.
Hope this helps! Brainlist?
Answer:
What are office machines? The Cambridge Dictionary defines office machinery as the equipment used in an office for example: phones, computers, and printers These markets cover computers and other machines for workplaces.
Explanation:
Briefly describe the traditional organizational structure.
Answers
Answer:
The traditional organizational structure is the structure has the following characteristics:
Explanation:
Hierarchical: there is a clear hiearchical structure, between the top levels of the organization, and the bottom levels of the organization. There is a clear line of command, and workers have to respond vertically to their supervisors, who at the same time have to respond vertically to top management.
And the other characteristic is that departments within the organization are clearly defined, and each worker belongs to a specific department.
2. What are the ways of forecasting cost of sales?
a. cost of materials
b. cost of labor
c. cost of overhead
d. all of the choices
Answers
Answer:
d. all of the choices
Explanation:
Cost of Goods sold = Cost of material purchased + Conversion cost
And
Conversion cost hereby includes Direct labor cost and other production overheads directly attributable to the Goods sold.
So, The correct option is - d. all of the choices
capital allowances in taxation.
Answers
Stam Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 33,600 $ 41,900 Direct labor (in March) 24,600 20,300 Applied overhead (March) 12,300 10,150 Costs during April Direct materials 139,600 226,900 $ 102,300 Direct labor 94,200 161,500 107,300 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $91,500. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April.
Answers
Based on the cost of production by Stam Company, the overhead rate which is applied to the jobs are:
Data and Calculations:
Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $33,600 $41,900
Direct labor used (in March) $24,600 $20,300
Overhead applied (March) $12,300 $10,150
Costs during April
Direct materials used $139,000 $226,900 $102,000
Direct labor used $94,200 $161,500 $107,300
Overhead applied $55,600 $77,500 $52,500
($94,200 × 50%) ($161,500 × 50%) ($107,300 × 50%)
Job 306 - $47,100
Job 307 - $80,750
Job 308 - $53,650
The overhead rate applied for Job 306 in April is:
= Direct labor cost x 50%
= 94,200 x 50%
= $47,100
The overhead applied for Job 307 in April is:
= 161,500 x 50%
= $80,750
The overhead for Job 308 in April is:
= 107,300 x 50%
= $53,650
Hence, based on the cost of production by Stam Company, the overhead rate applied to the jobs are calculated above.
The given question is incomplete, the complete question is-
Stam Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 33,600 $ 41,900 Direct labor (in March) 24,600 20,300 Applied overhead (March) 12,300 10,150 Costs during April Direct materials 139,600 226,900 $ 102,300 Direct labor 94,200 161,500 107,300 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $91,500. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April.
Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal 4. Prepare a schedule of cost of goods manufactured for the month end April 30. Stam Company Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured.
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The number of job evaluation plans used hinges on how detailed an evaluation is required to make pay decisions and how much it will cost. There is no "ready" answer to the question of "one plan versus many".
a. True
b. False
Answers
Answer:
Yes, that's right
Explanation:
Why u think the porcentage of tax filers has most dramatically increased for the 65+ age group?
Answers
Answer:
The more people that retire, the more it increased.
Explanation:
Typically when people retire, they get their taxes filed. The percentage of the 65+ age group who have their taxes filed increases the more people who retire, then typically use tax filers.
Answer: The percentage of tax filers has most dramatically increased for the 65+ age group because
more people in the 65+ community are retiring and so, they are getting their taxes filed.
Good luck!
DHL express deals with :
a) Air freight of goods
b) petroleum products
c) motorcycle company
d) import and export good
Answers
Answer:
DHL express deals with:
d)import and export good
What are the six categories of business products?
Answers
Answer:
raw materials, process materials, component parts, major equipment, office equipment and supplies, and business services.
Explanation:
your welcome
Accountability is the basic concept of delegation discuss?
Answers
Answer:
Delegation of Accountability
Explanation:
Unlike authority and responsibility, accountability cannot be delegated. Rather, it is inherent in the bestowment of responsibility itself. Anyone who sets out to accomplish a task and take on a job in a company becomes accountable for the outcome of their efforts.
Your grandfather wants to determine the value of his bond portfolio and asks you for help. Find the current market values of the components of your grandfather’s portfolio. (a) 80 bonds with a $1,000 face value and a coupon rate of 7.6%/year. These bonds have 11 years left to maturity and pay coupons on a semi‐annual basis. The YTM of these bonds is 8.8%/year. What is the total market value of these 80 bonds? (3 pts.) (b) 160 zero‐coupon bonds with a $1,000 face value, 9 years to maturity, and a YTM of 7.7%/year
Answers
Answer:
a) $73,320.80
b) $82,068.80
Explanation:
Current market value of bonds:
PV of face value = $1,000 / (1 + 4.4%)²² = $387.78
PV of coupon payments = $38 x 13.91402(PV annuity factor, 4.4%, 22 periods) = $528.73
Market price = $916.51
$916.51 x 80 = $73,320.80
Current market value of zero coupon bonds:
PV of face value = $1,000 / (1 + 7.7%)⁹ = $512.93
$512.93 x 160 = $82,068.80
57. Mark Green is considering buying a new Honda Accord. The purchase price of the car is $21,000 but Mark has a trade-in worth $4500. Mark needs a loan to buy the car and knows that his local bank requires him to put down 10% of the purchase price after the value of the trade-in is considered. Mark also knows that bank will charge 8% for the loan and require monthly payments over the next 4 years. What is the size of Mark‟s monthly payments if he makes the minimum down payment on the car?
Answers
Note that , Mark's monthly payments will be approximately $335.89 if he makes the minimum down payment on the car.
How is this so?Given
Loan amount - $14,850
Loan term - 48 months
Interest rate - 0.0067 per month(8 % annual rate divided by 12 months)
Using the formula for a fixed- rate loan,the monthly payment (P) can be calculated as follows:
P = (Loan Amount * Monthly Interest Rate) /(1 - (1 + Monthly Interest Rate)^(-Number of Months))
P = ($ 14,850 * 0.0067) /(1 - (1 + 0.0067)^(-48))
computing we have
P = ($99.50) / (1 - (1.0067)^(-48))
P = ($99.50) / (1 - 0.7035)
P = ($99.50) / (0.2965)
P ≈ $335.89
Therefore, Mark's monthly payments will be approximately $335.89 if he makes the minimum down payment on the car.
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What might you do if you are unable to get a credit card? (Select the best answer.)
Pay less attention to your bank balance
Apply for a department store card
Stop accepting government assistance
Make as many cash purchases as possible
Answers
Answer:
Apply for a department store card
Explanation:
Departmental retail stores and a card issuer co-issued issue departmental store cards. The store card may work in the issuing department store only or other related retailers as well. They work like regular credit cards only that they are acceptable in limited places and may have a lower credit limit.
Departmental store cards may be issued to persons with a lower credit score. This makes them ideal for a person who need to build on or improve his credit score. They also provide great savings on huge one-time purchases.
Answer:
correct answer is B
Explanation:
What did Ray Kroc feel about churches and courthouses?
Answers
He advertised, "In business for yourself, but not by yourself." His idea was founded on the simple principle of a three-legged stool, with one leg representing McDonald's franchisees, the second representing McDonald's suppliers, and the third representing McDonald's employees.
The McDonald brothers were more concerned about product quality and consumer satisfaction. Ray was more interested with making money by rapidly expanding the business. As a result, they had disputes, and their phone conversations were brief. Throughout the creation of the McDonald empire, Kroc faced numerous hurdles, including improper franchisees, high electrical costs due to ice cream, difficult debates and arguments with his partners, financial troubles, and divorce.
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ACCOUNTING:-
How do we find out the Balance B/D in the credit section?
Answers
In accounting, the term "Balance B/D" typically refers to the Balance Brought Down, which represents the balance carried forward from the previous accounting period.
To find out the Balance B/D in the credit section, you would need to consider the following:
Obtain the financial statements: Retrieve the previous period's financial statements, including the balance sheet and the income statement.
Locate the previous period's credit balance: Look for the credit balance in the relevant accounts on the balance sheet. These accounts could include liabilities, equity accounts, or contra-asset accounts.
Analyze changes: Review any changes that occurred during the previous period in the accounts with credit balances. Determine whether there were any increases or decreases in these accounts due to transactions or adjustments.
Calculate the net change: Calculate the net change in the accounts with credit balances by subtracting any decreases from the increases. This will give you the overall change in the credit balances of these accounts.
Determine the Balance B/D: Add the net change to the previous period's balance. If the previous period's credit balance was zero, then the net change itself will be the Balance B/D in the credit section. However, if there was an existing credit balance, you would need to add the net change to that balance to find the Balance B/D in the credit section.
By following these steps, you can identify the Balance B/D in the credit section, which represents the credit balance carried forward from the previous accounting period.
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Hair Zone manufactures a brand of hair styling gel. It is considering adding a modified version of the product-a foam that provides stronger hold. Hair Zone's variable costs and prices to wholesalers are: Current hair gel New foam product Unit selling price 2.00 2.25 Unit variable costs 85 1.25 Hair Zone expects to sell 1 million units of the new styling foam in the first year after introduction, but it expects that 60% of those sales will come from buyers who normally purchase Hair Zone's styling gel. Hair Zone estimates that it would sell 1.5 million units of the gel if it did not introduce the foam. If the fixed cost of launching the new foam will be $100,000 d the first year, should Hair Zone add the new product to its line? Why or why not?
Answers
Answer:
Should Hair Zone add the new product to its line? Why or why not?
Yes they should, since it would increase their total net income by $210,000.Explanation:
Current hair gel New foam product
Unit selling price $2.00 $2.25
Unit variable costs $0.85 $1.25
expected sales for new foam product 1,000,000 units, but 600,000 units would replace sales from current hair gel
expected sales for current hair gel if new foam is introduced 900,000 units (1,500,000 if no new product is introduced)
Alternative 1 Alternative 2 Differential
no new foam new foam income
total sales revenue $3,000,000 $4,050,000 $1,050,000
total variable costs ($1,275,000) ($2,015,000) ($740,000)
additional fixed costs $0 ($100,000) ($100,000)
total $1,725,000 $1,935,000 $210,000
Question 1: Problem solving (14 Marks)
A handicraft products trader is selling leather cases for $40 the unit. To run his business, he needs to pay $10000 for rent, $5000 salaries, and another $5000 for marketing campaigns. The handicraft trader has the choice to import his products from different countries, and it will cost him $20 per unit if the product comes from China, $25 per unit if the product comes from India, and $15 per unit if the product comes from Malaysia.
Questions:
1. If the trader must choose to import his products from one country, then which country will it be? (3 Marks)
2. compute the trader’s profit if he sells 40 units imported from China and 50 units imported from India. (2 Marks)
Answers
Answer:
A handicraft products trader
1. The country to choose is Malaysia with the lowest variable cost.
2. Trader's profit under two scenarios:
China India Total
Sales revenue $1,600 $2,000 $3,600
Variable cost 800 1,250 2,050
Contribution $800 $750 $1,550
Fixed costs 20,000
Net loss $18,450
Explanation:
Selling price of leather cases = $40 per unit
Fixed costs:
Rent = $10,000
Salaries = $5,000
Advertising = $5,000
Total fixed costs = $20,000
Variable costs:
China = $20
India = $25
Malaysia = $15
Variable costs:
China = $800 ($20 * 40 units)
India = $1,250 ($25 * 50 units)
Two months ago, Lisa was honorably discharged from the Air Force where she spent four years training as an airplane mechanic. After discharge, she relocated to take a 40 hour per week apprentice mechanic job with a major airline company where she earns $18 an hour. Last month, her husband Dave, who has worked the past two years as a registered nurse, found a nursing job with a local hospital making $625 per week. They just bought a new car and pay $400 each month on that loan and have no other monthly debts.
What is the maximum mortgage payment (PITI) a lender would allow for a conventional loan based on the housing expense ratio?
Answers
Answer:
The maximum mortgage payment (PITI) a lender would allow for a conventional loan based on the housing expense ratio is:
$1,506.40
Explanation:
a) Data and Calculations:
Lisa works 40 hours at $18 an hour
Lisa weekly income = 40 * $18 = $720
Lisa monthly income = 40 *$18 * 4 = $2,880
Dave weekly income = $625
Dave's monthly income = $625 * 4 = 2,500
Total joint monthly income = $5,380
b) If Lisa and Dave, her husband, file jointly for taxes, then the maximum mortgage payment (PITI) they can make is 28% of the gross income.
Therefore PITI = $5,380 * 28% = $1,506.40
c) The housing expense ratio is the percentage of your gross monthly income devoted to housing expenses, which should not exceed 36% of your monthly or annual gross income. According to the general rule, the household expense payments, primarily rent or mortgage payments, cannot exceed more than 28% of the monthly or annual income.
Newspapers in the nation of Hasalot report a significant increase in money supply during the past few months. This information indicates that Hasalot may experience a serious recession in the near future.
t or f
Answers
Newspapers in the nation of Hasalot report a significant increase in money supply during the past few months. This information indicates that Hasalot may experience a serious recession shortly. The above statement is true.
What do you mean by recession?When there is a general fall in economic activity, there is a recession, which is a contraction of the business cycle in economics. Recessions typically start when consumer spending falls dramatically across the board.
Recessions are defined as severe, widespread, and sustained declines in economic activity. Although it is generally accepted that two successive quarters of minus the gross domestic product (GDP) development indicate a recession, many people use more sophisticated metrics to determine if the economy is in a downturn.
Less money is moving around in the business as well as the stock market falls during a recession. Due to the uncertainties brought on by growing inflation, novice investors will dump their equities. People start to leave the stock market in search of more money and security, which drives down share values even more.
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the upper part of the sewing machine head being driven by hand when starting the machine
Answers
Answer:
I think its the Arm
Explanation:
Give two examples of potential trade-offs of a high real GDP per capita
Answers
"Trade-off" is used in economics to mean the fact that budgeting inevitably involves letting go some of X to get more of Y. Read below about the examples of potential trade-offs.
What are the examples of potential trade-offs of a high real GDP per capita?The following are the examples of potential trade-offs of a high real GDP per capita:
Somebody giving up the intent to see a movie to reading for a test in order to get a good grade. The opportunity cost is the cost of the movie and the enjoyment of seeing it.A business owns its building. If the organisation moves, the building could be rented to another. The opportunity cost of staying there is the amount of rent the organization would get.Therefore, the correct answer is as given above
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'professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact are referred to as
Answers
In order to achieve channel economies and the most possible marketing impact, vertical marketing systems—professionally managed and centrally coordinated marketing channels—were developed.
What do you mean by vertical marketing system in terms of marketing?A vertical marketing system is produced when wholesalers, retailers, and manufacturers all collaborate to meet the needs of their customers. It makes it possible for one company to have complete control over the production and distribution of a thing.
A vertical marketing system's ability to act as a system is one of its advantages.The main advantage of VMS is that it allows your company total control over all facets of developing and promoting a product. By being able to see the larger picture, anticipate problems, and make changes as needed, doing this increases your efficiency.
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What are 4 status types that can be assigned to an estimate in QuickBooks Online?
Answers
Answer:
The status of estimates in QuickBooks Online is Pending, Accepted, Closed and Rejected.
Explanation:
The four status types are provided below:
PendingAcceptedClosedRejected→ Pending - To take account of something like the consumer, users can simply create a fresh quotation.
→ Accepted - The quotation has been somewhat acknowledged or confirmed by your client.
→ Closed - Around one several circumstances could be described here. Whether you have determined that you'll never seek particular goods as well as activity, or you'll never pay for something like this.
→ Rejected - The client opted not to acknowledge perhaps the appreciation.
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What’s the best way to find the load capacity of a crane?
Answers
The load capacity of a crane can be found by checking the load chart, calculating the effective load, calculating the capacity at the working radius, and checking the stability of the crane.
The load capacity of a crane refers to the maximum weight that it can lift and transport safely without any damage to the crane. The maximum load capacity of a crane is determined by its design and other specifications. The best way to find the load capacity of a crane is by checking the manufacturer's load charts and calculating the effective load that the crane can lift in various positions and operating conditions. Below are the steps to find the load capacity of a crane.
Step 1: Check the load chartThe load chart provides information about the crane's capacity in various conditions and configurations. It shows the maximum weight that can be lifted at different radii and boom lengths. The load chart also indicates the crane's stability in different positions. The load chart should be specific to the crane's model, and it should be available from the manufacturer or the crane supplier.
Step 2: Calculate the effective loadThe effective load is the weight of the load plus any rigging gear, such as slings, shackles, and hooks. The effective load should be calculated for every lift to ensure that the crane is not overloaded. The effective load is calculated by adding the weight of the load to the weight of the rigging gear. The weight of the rigging gear should be included in the load chart or specified by the manufacturer.
Step 3: Calculate the capacity at the working radiusThe working radius is the distance from the center of rotation of the crane to the center of gravity of the load. The capacity of the crane is affected by the working radius. The closer the load is to the crane, the higher the capacity. The capacity at the working radius is calculated by multiplying the effective load by the load radius factor, which is provided in the load chart. The load radius factor takes into account the boom length, the angle of the boom, and the crane's capacity. It varies for different radii and boom lengths.
Step 4: Check the stability of the craneThe stability of the crane should be checked to ensure that it can lift the load safely without tipping over. The crane's stability depends on the configuration, the location of the load, and the position of the crane. The load chart provides information about the crane's stability in different positions and configurations. If the crane is unstable, the load should be repositioned or a more stable crane should be used.
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1. Briefly explain how globalization encourages worldwide economic growth through trade and labor markets. Also, explain how globalization and technological advancement encourage each other. (4 points)
2. Rapid inflation or deflation can have a domino effect on the global economy. One dramatic example occurred in the first half of the 20th century, when the world faced both the Great Depression and World War II. Briefly explain how rapid inflation and deflation affected the global economy during the Great Depression (1929 – 1938), World War II (1939 – 1945), and the postwar era (1946 – 1950). (4 points)
3. Identify and describe the three most common reasons countries trade, and give an example of each of these trade motivations in action. (4 points)
4. Four of the main types of trade barriers are tariffs, quotas, embargoes, and standards. Define each and briefly describe its economic impact. (4 points)
5. Describe the impact of a strong (appreciating) U.S. dollar and a weak (depreciating) U.S. dollar on both the U.S. economy and the economies of major U.S. trading partners. (4 points)
Part II: Application and Critical Thinking (20 points)
6. In the 20th century, the U.S. economy's shift from the gold standard to the Bretton Woods system, and what happened over time as a result, had an important role in changing the United States' standing in the world. Write a short essay on the Bretton Woods system and the global role of the U.S. dollar that addresses the following prompts.
a. Explain what the gold standard was, including its connection to the U.S. and world economies in the early 1900s.
b. Explain the Bretton Woods system and how it initially affected the global role of the U.S. dollar.
c. What was the effect of the Bretton Woods system over time? Explain what happened in the early 1970s that ended the system. How was the status of the U.S. dollar affected as a result?
(20 points)
Answers
1. Globalization places pressure on nations to reduce tariffs, subsidies and other barriers to free trade. As a result, Globalization promotes economic growth, creates jobs, makes companies more competitive and lowers prices for consumers. Globalization increases technological development by allowing countries to gain easier access to foreign knowledge. Globalization also enhances international competition.
2. The worldwide prosperity of the 1920s ended abruptly with the stock market crash in October 1929 and the great economic depression that followed. The inflation of the money supply during this period led to an unsustainable inceease in both asset prices and capital goods.
3. Differences in Technology: Advantageous trade can happen amongst nations if the countries differ in their technological abilities to produce goods and services. For example conversion of resources to outputs
ii. Differences in Resource Endowments: Advantageous trade can happen between nations if the nations differ in their endowments of resources. For example, presence of certain resources in one country and its absence in another.
iii. Differences in Demand: Advantageous trade can happen among countries if demands or preferences differ between countries. Individuals in different countries can prefer or demand for different products. For example, the Chinese are likely to demand more rice than Americans, even if consumers face the same price.
4. Tariffs are described as levies that a government places on imports entering a country, its impact is that it may increase the price of a commodity.
An import quota infers the numerical limit set to deduce the quantity of a commodity that can be imported into a country.
Tariffs and quotas are established to react to international trade and its effects.
5. The impact of the appreciation and depreciation of dollars is that it will reduce inflation in the US and vice versa in their partners. That is, if dollars appreciate, in the US, inflation is reduce and inflation is increased in that of their partners but when dollars depreciate, inflation occurs in the US and not in their partners .
6a. The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. The gold standard is not currently used by any government. Britain stopped using the gold standard in 1931, and the U.S. followed suit in 1933, finally abandoning the remnants of the system in 1973.
b. The Bretton Woods System required a currency peg to the U.S. dollar which was in turn pegged to the price of gold.
What was the effect of the Bretton Woods system over time?The Bretton Woods System demanded a currency peg to the U.S. dollar which was in turn pegged to the price of gold. The Bretton Woods System ended in the 1970s but created a lasting influence on international currency exchange and trade through its development of the IMF and World Bank.
Therefore, the correct answers are as given above
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