Table 3.1 Use the Data in the Table Below to Answer the Answer

question 52

Multiple Choice

Table 3.1
Use the data in the table below to answer the following question(s) :
Output per Hour Worked

-Based on Table 3.1,the pre-trade relative price of a computer in Mexico is

• A)three pairs of shoes.
• B)one pair of shoes.
• C)one-half pair of shoes.
• D)one-third pair of shoes.
• E)None of the above.

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Definitions:

Sales Tax

A government-imposed charge on the sale of goods and services.

General Journal Entries

The initial records of financial transactions, entered in the general journal, before they are posted to specific accounts in the general ledger.

Terms of Sale

The conditions under which a seller agrees to sell and a buyer agrees to buy, including payment terms, delivery time, and warranties.

Credit Terms

The conditions under which credit is extended by a seller to a buyer, including the repayment period, discount for early payment, and late penalty.