Answer the following statements true (T) or false (F)
1.As international trade proceeds, a country will produce more of its import- competing product
2.A country with high wages can export to a country with low wages, given sufficiently high labor productivity in the exporting country.
3.In his empirical test of the principle of comparative advantage, G. MacDougall found that relatively high export ratios are associated with relatively high labor productivity.
4.Critics maintain that outsourcing by American businesses results in jobs moving to low-wage countries, to the disadvantage of American workers
5.In justifying its production outsourcing strategy, Apple Inc. notes that American workers lack the speed and flexibility the firm needs to produce products such as Ipods and Ipads
1.False
2.True
3.True
4.True
5.True
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A British aircraft manufacturer sold planes to Brazil for 70 percent cash and the rest in coffee. This is an example of what kind of a countertrade?
What will be an ideal response?
Operating leverage refers to the existence of fixed operating costs
Indicate whether the statement is true or false
On January 1, 20x5, Dove Valley Corporation had 100,000 shares of $10 par value common stock issued and outstanding. All 100,000 shares had been issued in a prior period at $30 per share. On February 1, 20x5, Dove Valley purchased 4,000 shares of treasury stock for $36 per share and later sold the treasury shares for $40 per share on March 2, 20x5. The entry to record the sale of the treasury
shares on March 2, 20x5, is : A) Cash 160,000 Common Stock 144,000Retained Earnings 16,000 B) Cash 160,000 Treasury Stock-Common 144,000Paid-in Capital, Treasury Stock 16,000 C) Cash 160,000 Treasury Stock-Common 144,000Retained Earnings 16,000 D) Cash 160,000 Treasury Stock-Common 144,000Gain on Treasury Stock 16,000
Equivalent units of production are equal to:
A. The number of finished units actually produced during a period. B. Physical units that were started and completed during a period. C. The number of units that could have been started and completed given the costs incurred during the period. D. The number of units still in process at the end of a period. E. The number of units started into the process during a period.