Assume that by devoting all of its resources to the production of x, nation alpha can produce 40 units of x. by devoting all of its resources to y, alpha can produce 60y. comparable figures for nation beta are 60x and 40y. we can conclude that: a) there is no basis for mutually beneficial specialization and trade. b) alpha should specialize in x and beta in y. c) the terms of trade will be 3x equals 1y. d) alpha should specialize in y and beta in x.

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: