Which of the following is true of exchange? a. The exchange value of a good is determined by the cost of the resources required to produce the good. b. The total output trading partners are able to produce is not influenced by whether the partners trade with each other. c. Exchange permits trading partners to expand their total output of goods and services as the result of greater specialization in areas where each has a comparative advantage. d. Exchange is a zero sum activity; if one party to an exchange gains, the other must lose an equal amount.

What is the most direct result of free trade supplying productive resources to areas where they're most needed? a. enhanced efficiency b. lower interest rates c. increasing specialization d. greater competition 2b2t

What is the best definition of a conclusion?

Grey company holds an overdue note receivable of $800,000 plus recorded accrued interest of $64,000. the effective interest rate is 8%. as the result of a court-imposed settlement on december 31, year 3, grey agreed to the following restructuring arrangement: reduced the principal obligation to $600,000.forgave the $64,000 accrued interest.extended the maturity date to december 31, year 5.annual interest of $40,000 is to be paid to grey on december 31, year 4 and year 5. the present value of the interest and principal payments to be received by grey company discounted for two years at 8% is $585,734. grey does not elect the fair value option for reporting the debt modification. on december 31, year 3, grey would recognize a valuation allowance for impaired loans of