The Following Data Are Available for 2001 (In 000's) The Income Tax Rate Is 40 Percent the Balance of

question 23

Multiple Choice

The following data are available for 2001 (in 000's) : $$\begin{array} { | l | c | } \hline \text { Retained earnings, January } 1,2001 & \$ 54 \\\hline \text { Correction of prior years' error (a debit, pre-tax) } & 15 \\\hline \text { Net income (atter tax) } & 25 \\\hline \text { Cumulative foreign exchange translation loss } & 10 \\\hline \text { Dividends declared (cash) } & 11 \\\hline\end{array}$$ The income tax rate is 40 percent The balance of retained earnings at December 31, 2001, was:

• A) $59.
• B) $49.
• C) $79.
• D) $83.

Recognize the concepts of net exports, net capital outflow, and their implications for trade balance.

Identify the effects of transportation costs and trade barriers on international trade.

Distinguish between foreign direct investment and foreign portfolio investment.

Analyze the relationship between saving, investment, and international capital flows.

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Definitions:

Neolithic Civilization

describes societies in the late Stone Age, marked by the development of agriculture, settled communities, and the creation of pottery and stone tools.

Fortressed Communities

Communities or settlements that are heavily fortified, often in the medieval period, to protect against invaders or attacks.

Corbeled Stone Architecture

A technique in stone architecture where stones are stacked atop one another, each extending slightly beyond the one below, to create structures without the use of mortar.

Megalith

Greek, “great stone.” A large, roughly hewn stone used in the construction of monumental prehistoric structures.