Suppose that a worker in boatland can produce either 5 units of wheat or 25 units of fish per year, and a worker in farmland can produce either 25 units of wheat or 5 units of fish per year. there are 10 workers in each country. political pressure from the fish lobby in farmland and from the wheat lobby in boatland has prevented trade between the two countries on the grounds that cheap imports would kill the fish industry in farmland and the wheat industry in boatland. as a result, boatland produces and consumes 25 units of wheat and 125 units of fish per year while farmland produces and consumes 125 units of wheat and 25 units of fish per year. if the political pressures were overcome and trade was to occur, each country would completely specialize in the product in which it has a comparative advantage. if trade were to occur, the combined output of the two countries would increase by

Corporations with suppliers, vendors, and customers all over the globe are referred to as : a) global corporations b) international corporations c) multinational corporations d) multicultural corporations

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

You are thinking of making your mansion more energy efficient by replacing some of the light bulbs with compact fluorescent bulbs, and insulating part or all of your exterior walls. each compact fluorescent light bulb costs $4 and saves you an average of $2 per year in energy costs, and each square foot of wall insulation costs $1 and saves you an average of $0.20 per year in energy costs.† your mansion has 150 light fittings and 3000 sq ft of uninsulated exterior wall. to impress your friends, you would like to spend as much as possible, but save no more than $750 per year in energy costs (you are proud of your large utility bills). how many compact fluorescent light bulbs and how many square feet of insulation should you purchase? how much will you save in energy costs per year? (if an answer does not exist, enter dne.)