Concept Check Questions Please answer following questions very briefly in a few words

11) When more cash is leaving the country than is flowing in is referred to as a trade: 12) When a country devalues its currency, it creates favourable effect on balance of: 13) Justin is a partner in Bob & Associates. Bob is one of the senior general partners in the company who must temporarily leave the company to attend to some personal matters. Bob has asked Justin to temporarily perform his managerial duties while he is gone. However, Justin reminds Bob that he cannot participate in the management of the partnership. Bob has what kind of partnership in the company? 14) People can be involved in a corporation without risking their personal assets because a corporation is a separate entity from the owners. 15) A country is said to have produce it at a lower opportunity cost. in production of good if it can