Country a Is Extremely Efficient in the Mining of Tin

question 359

Multiple Choice

Country A is extremely efficient in the mining of tin.However,its climate and terrain makes it difficult to produce corn.According to the theory of comparative advantage,Country A should:

• A)produce both tin and corn in order to remain self-sufficient.
• B)watch the global market to see which product is bringing the highest price.
• C)import the resources needed to produce corn.
• D)concentrate its production on tin and buy corn from an efficient producer.

---

Definitions:

Straight-Line Depreciation

An approach to spreading the expense of a tangible asset across its lifespan in uniform yearly sums.

Income Taxes

Taxes levied by governments on the income generated by businesses or individuals within their jurisdiction.

Changing Depreciation Methods

The process of altering the accounting method used to allocate the cost of a tangible asset over its useful life for financial reporting purposes.

Newly Acquired Assets

Newly acquired assets refer to assets that a company or individual has recently purchased or obtained, which can include equipment, property, or financial instruments.