A country is said to be in balance-of-trade equilibrium when: Group of answer choices it has the potential to balance the production and procurement of the basic amenities that it needs. the country import all goods that its residents want by engaging in foreign trade. the income its residents earn from exports is equal to the money its residents pay for imports. it has the potential to produce all goods that its residents want without engaging in foreign trade.

How is the division of labor accomplished?

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

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