Explain the meaning of balance of trade. ​

Answers

Answer 1

[tex]\huge\purple{Hi!}[/tex]

balance of trade, the difference in value over a period of time between a country’s imports and exports of goods and services, usually expressed in the unit of currency of a particular country or economic union (e.g., dollars for the United States, pounds sterling for the United Kingdom, or euros for the European Union). The balance of trade is part of a larger economic unit, the balance of payments (the sum total of all economic transactions between one country and its trading partners around the world), which includes capital movements (money flowing to a country paying high interest rates of return), loan repayment, expenditures by tourists, freight and insurance charges, and other payments.If the exports of a country exceed its imports, the country is said to have a favourable balance of trade, or a trade surplus. Conversely, if the imports exceed exports, an unfavourable balance of trade, or a trade deficit, exists. According to the economic theory of mercantilism, which prevailed in Europe from the 16th to the 18th century, a favourable balance of trade was a necessary means of financing a country’s purchase of foreign goods and maintaining its export trade. This was to be achieved by establishing colonies that would buy the products of the mother country and would export raw materials (particularly precious metals), which were considered an indispensable source of a country’s wealth and power.

The assumptions of mercantilism were challenged by the classical economic theory of the late 18th century, when philosophers and economists such as Adam Smith argued that free trade is more beneficial than the protectionist tendencies of mercantilism and that a country need not maintain an even exchange or, for that matter, build a surplus in its balance of trade (or in its balance of payments)


Related Questions

According to the text, a personal balance sheet is a statement of your net worth. It is an accounting of what you own as well as what you owe. Using the information provided, prepare a personal balance sheet for Jamie Lee.

Answers

A personal balance sheet is a statement of the total net worth of an individual for the time being in force. It shows what are the things owned by a person and also the things that one owes to others.

What is a balance sheet?

The balance sheet for the year for Jamie Lee will show a balance of $8,350 on both the sides of the balance sheet for the information that is provided above.

Hence, the balance sheet for Jamie Lee is aforementioned. The missing information from the text is added for further reference. Moreover, an additional image of the balance sheet is also attached.

Learn more about a balance sheet here:

https://brainly.com/question/26323001

#SPJ1

. Suppose you are given a privilege to choose between Capitalism and Socialism as an economic system to be followed in Ethiopia. Which do you choose? Support your answer with at least five justifications.

Answers

The system that would be chosen between Capitalism and socialism is capitalism.

Why Capitalism is chosen over socialismThe people of the nation have the right to make economic choices based on production.The demand and the supply of goods are rested in the hands of the people instead of the government.It allows for private ownership of properties unlike socialism.It encourages the people to be innovative as well as efficient.It provides for growth and freedom in the economy.

Read more on capitalism here:

https://brainly.com/question/25879591

#SPJ1

A flexible budget takes into account

Answers

A flexible budget takes into account how changes in production affect the cost.

What is a flexible budget?

It should be noted that flexible budget us the tool that's used in the preparation of financial statements.

In this case, a flexible budget takes into account how changes in production affect the cost.

Learn more about budget on:

brainly.com/question/25353134

#SPJ1

the roots of the quadratic function describing the relationship between the number of products produced and overall profit margins are x= 0 and 150. the vertex is (75, 10000).

Answers

The whole statement is as follows: When there are 75 things in production, a profit of 10000 dollars is obtained, which is the highest possible.

What is the complete statement?

Because we already know that the profit equation is defined between x = 0 and x = 150, which are the two roots of the equation, we also know that the profit is equal to zero when

x = 0 and when x = 150.

If this is the case, we may reasonably expect a positive return on investment within this range.

Therefore, the quadratic equation should have a leading coefficient that is negative. This would indicate that the arms of the graph should move in a downward direction.

If this is the case, then we already know that the maximum will be located at the vertex of the triangle.

In this case, we are aware that the vertex is:

(75, 10000)

In this equation, x stands for the total number of products sold, while y indicates the amount of money made.

Since the maximum is at the vertex, and we know that the vertex is located at  (75, 10000), we may draw the conclusion that the maximum profit is $10000, and this occurs when the number of things created is 75. This is because the vertex is located at the intersection of the two lines.

Therefore, the whole statement is as follows:

When there are 75 things in production, a profit of 10000 dollars is obtained, which is the highest possible.

Read more about production

https://brainly.com/question/22852400

#SPJ1

• Highlight the negative externalities that might occur in the South African Economy, due to the Russian Ukrainian war​

Answers

Various the negative externalities such as food scarcity , racsism , price hike , etc might occur in the South African Economy, due to the Russian Ukrainian war​.

The negative externalities might occur in the South African Economy, due to the Russian Ukrainian war​ beacuse:

Around 20% of students in Ukraine are African, and they claim to often face racism and prejudice.Through food imports and tourism, African economies are connected to those of Russia and Ukraine.Without proper access to imports of wheat, corn, and oil, food prices and global food insecurity are likely to rise, having a significant impact on North Africa, since Egypt alone buys 70% of its wheat from Russia and Ukraine.The two main categories of how the links between African countries and the eastern European countries at war would affect the continent are the economy and vulnerable citizens, but both categories are intricately intertwined.As humanitarian organizations rely on wheat and cereal grains for famine assistance, areas of Africa that are already on the verge of starvation are also at risk. The Democratic Republic of the Congo, Madagascar, Ethiopia, South Sudan, and Chad are among the nations on the continent that the UN has designated as hunger hotspots because they are in danger of becoming hungry and need access to such aid commodities.

Learn more about the Russian Ukrainian war here https://brainly.com/question/26660181

#SPJ10

A nondiscriminating monopolist:

1 will never produce in the output range where marginal revenue is positive.

2 will never produce in the output range where demand is inelastic.

3 will never produce in the output range where demand is elastic.

4 may produce where demand is either elastic or inelastic, depending on the level of production costs

Answers

Monopolists do not prefer to produce in the when the demand for a good produced by them is inelastic. Option B is the correct answer.

It is common to observe that monopolists, avoid engaging production when the demand for their product becomes inelastic.In order to understand this situation, it is important to address the meaning of inelastic demand. The term 'inelastic demand' refers to a situation where the demand for a product does not increase/decrease (change) when there is an increase/decrease (change) in its price.This does not lead to profits for a monopolist. It is because, a firm will be able to secure profits by producing lower amounts of goods for a higher price when the demand is elastic. Hence, when the demand is inelastic, the increase in the quantity will be sold at the previous standard price, leading to a fall in terms of the total revenue.

Therefore, it is clear that a monopolist will not produce when the demand for a good is inelastic.

Learn more about Demand Elasticity here:

https://brainly.com/question/5078326

#SPJ10

Why is this case an example of trademark violation?

Answers

Answer:

Say for example i make a Yt video and add in a song that has a trademark if i dont pay for the songs trademark to be able to use it the can report me it would be a violation

Explanation:

Answer: A

Explanation:

Payless made sneakers with a pattern that is similar to the Adidas logo.

A corporation makes an investment of $20,000 that will provide the following cash flows after the corresponding amounts of time: Year 1 - $10,000 Year 2 - $10,000 Year 3 - $2,000 a. Should the company make this investment? b. What is the net present value at a 7 percent discount rate? Round your answer to two decimal points.

Answers

A) The company should not invest in the provided project due to the negative NPV of the project.

B) The NPV of the project comes out to be (286).

What is NPV?

NPV is an abbreviated form of Net present value and computed by deducting the cash outflows from cash inflows at the present value.

Given values:

Cash flow of year 1: $10,000

Cash flow of year 2: $10,000

Cash flow of year 3: $2,000

Cash outflow (cost of investment) =$20,000

Step-1 Computation of PV of cash inflows of every year:

PV of year 1 = Cash inflow of year 1 / (1+ interest rate)^ 1

                    = $10,000 / (1+0.07) ^ 1

                    = $10,000 X 0.934579

                    = $9,346

PV of year 2 = Cash inflow of year 1 / (1+ interest rate)^ 2

                    = $10,000 / (1+0.07) ^ 2

                    = $10,000 X 0.873438

                    = $8,735

PV of year 3= Cash inflow of year 1 / (1+ interest rate)^ 3

                   = $2,000 / (1+0.07) ^ 2

                    = $2,000 X 0.816297

                    =$1,633

Step-2 Computation of total amount of PV of cash inflows:

[tex]\rm\ PV \rm\ of \rm\ cash \rm\ inflows = \rm\ PV \rm\ of \rm\ year \rm\ 1 + \rm\ PV \rm\ of \rm\ year \rm\ 2 + \rm\ PV \rm\ of \rm\ year \rm\ 3\\\rm\ PV \rm\ of \rm\ cash \rm\ inflows =\$9,346 + \$8,735 + \$1,633\\\rm\ PV \rm\ of \rm\ cash \rm\ inflows =\$19,714[/tex]

Step-3 Computation of NPV:

[tex]\rm\ NPV=\rm\ PV \rm\ of \rm\ cash \rm\ inflows- \rm\ Cost \rm\ of \rm\ investment\\\rm\ NPV=\$19,714-\$20,000\\\rm\ NPV=\$ (286)[/tex]

Therefore, the NPV comes out to be a negative amount of 286, and hence, the company should not accept the project.

Learn more about the net present value in the related link:

https://brainly.com/question/14015430

#SPJ1

Besides chlorine, what are the chemical sanitizers approved for operations?

Answers

Explanation:

Chemicals that are approved sanitizers are chlorine, iodine, and quaternary ammonium.

a possible cause of favourable material price is

Answers

An overall decrease in the market price level

Describe What You Will Use The Money For?

Answers

Answer:

invest, save and make passive income

Explanation:

I think the best way to earn money is to invest even if you don't have money there are a lot of ways that you can earn starting from 0. if you made it in your first thousand I think it's the best if you save it from now and use it in future investment even if you have enough you can now earn and even hire people from your business (if you want to start one) and you can invest at the same time you can have now a passive income from your business adding that to your investment which you will earn more and grow your business.

A career is something that you train for and intend to do _______________.

Answers

I’m not too sure, but I think “long term”might fit in the blank, as a career is something you want to to do for a significant time of your life while a job is temporary.

Answer:

I believe the answer would be you intended to do happily and what you want to do with your life.

Explanation:

Two capitals invested in shares of the stock market add up to $180,000, which

have been placed at 13% and 16% annual simple interest for 3 years and 6 years

respectively. If between the two a total interest of $98,250 was obtained, determine:

What was the amount of capital invested?

Answers

The amount invested in the account that earns 13% simple interest is $130,789.47.

The amount invested in the account that earns 16% simple interest is $49,210.53.

What are the linear equations that represent the question?

a + b = 180,000 equation 1

0.39a + 0.96b = $98,250 equation 2

Where:

a = amount invested in the account that earns 13% simple interestb  = amount invested in the account that earns 16% simple interest

How much was invested in each account?

Multiply equation 1 by 0.39

0.39a + 0.39b = 70,200 equation 3

Subtract equation 3 from equation 2

$28,050 = 0.57b

b = $49,210.53

Subtract $49,210.53 from 180,000 : 180,000 - $49,210.53 = $130,789.47

To learn more about interest, please check: https://brainly.com/question/26164549

#SPJ1

Managers will invest in human resource management only if human resource practices such as developing staff and communication will result in greater profits

Answers

It is a true statement that the Managers will invest in human resource management if its helps in developing staff and helps communication to result in greater profits.

What is a human resource management?

This is a section of management the people in a company so that they will help their business gain a competitive advantage over others.

This management is involve in the recruitment, hiring, renumeration, motivation etc of the staffs.

Thus, it is agreed that Managers will invest in human resource management if its helps in developing staff and helps communication to result in greater profits.

Read more about human resource

brainly.com/question/25443563

#SPJ1

What is product positioning?
A. The set of plans for product, price, place, and promotion that the
marketer will use
B. The process of dividing up a total market into groups (segments)
with similar needs and buying behaviors
OC. The use of names and symbols to identify the company's products
D. A definition of how the company intends for customers to view its
product relative to the competition
SURMIT

Answers

Answer:

A

Explanation:

Product positioning allows a business to filter its customers, offerings, marketing strategies and perspectives. Creating a distinguishable position for a product allows the business to identify the shape the brand should take

Goodwin Technologies, a relatively young company, has been wildly successful but has yet to pay a dividend. An analyst forecasts that Goodwin is likely to pay its first dividend three years from now. She expects Goodwin to pay a $2.50000 dividend at that time (D₃ = $2.50000) and believes that the dividend will grow by 13.00000% for the following two years (D₄ and D₅). However, after the fifth year, she expects Goodwin’s dividend to grow at a constant rate of 3.66000% per year. Goodwin’s required return is 12.20000%. Fill in the following chart to determine Goodwin’s horizon value at the horizon date (when constant growth begins) and the current intrinsic value. To increase the accuracy of your calculations, do not round your intermediate calculations, but round all final answers to two decimal places.

Answers

Goodwin’s horizon value at the horizon date when the constant growth begins equals $38.7481 and the current intrinsic value equals $27.1393.

What is a horizon value?

This refer to the value of an asset beyond the forecasted period when future cash flows can be estimated

What is a current intrinsic value?

This refers to the current perceived or true value of an asset.

Therefore, the horizon value at the horizon date when the constant growth begins equals $38.7481 and the current intrinsic value equals $27.1393.

Note: The calculations leading to the final answer of horizon value and current intrinsic value is explained in the attached image.

Read more about dividend

brainly.com/question/373419

#SPJ1

Describe a specific example of how social networking sites can communicate a positive image of a person to a potential employer.​

Answers

Answer:

1. Visibility

2. Networking

3. Opportunity

Explanation:

1. Visibility

People searching for jobs can market themselves online by creating online profiles that highlight any skills or special talents and making themselves easily searchable to recruiters and companies.  

2. Networking

By making themselves visible online, people have the opportunity to network with others in their field on a global level opening up endless possibilities for themselves.

3. Opportunity

Using social media creatively can give a person an opportunity in a new field that may not be reflected in their resume. (Ex: a person would like to be a product designer but spent their career as an accountant can show off their skills in their professional profile).

7. Which of the following is not true about bonds? In all of the statements, assume other things are held constant. Question 8 options: c. For any given maturity, a given percentage point increase in the interest rate causes a smaller dollar capital loss than the capital gain stemming from an identical decrease in the interest rate. d. From a borrower's point of view, interest paid on bonds is tax-deductible. a. Price sensitivity, that is, the change in price due to a given change in the required rate of return, increases as a bond's maturity increases. b. For a given bond of any maturity, a given percentage point increase in the interest rate (rd) causes a larger dollar capital loss than the capital gain stemming from an identical decrease in the interest rate.

Answers

Answer:

1.0%percantage point

Explanation:

Interest expense on the $30,000 loan obtained from the city council on August 1 should be recorded.

Answers

The Journal entry for the Interest expense on the $30,000 loan will include a debit to Interest Expense account and a credit the Accrued Interest Payable account.

What is an Interest expense?

This refers to cost incurred for borrowed funds such as on bonds, loans, convertible debt etc.

The effect on this on the journal entry is that its increases the expense and payable accounts.

Therefore, the record will include a debit to Interest Expense account and a credit the Accrued Interest Payable account.

Read more about Interest expense

brainly.com/question/12553420

#SPJ1

What's the key difference between term life insurance and straight-life insurance?
The value of a term life insurance policy may go up or down, but the value of a
straight-life insurance policy is always constant.
Term life insurance is cheaper than straight-life insurance, but it cannot be
renewed.
Term life insurance has no cash value at the end of the term it's bought for.
Term life insurance is generally more expensive than straight-life insurance, but
it generally offers much more.

Answers

The main difference between term life insurance and straight-life insurance is Term life insurance has no cash value at the end of the term it's bought for.

What is term life insurance?

This is a life insurance policy that allows you to cover our life for a period of time. It is often cheaper than the straight-life insurance policy.

Term life insurance has a drawback however which is that it has no cash value at the end of the term. The insurance company will simply take all the cash that one has paid and give nothing back.

Find out more on term-life insurance at https://brainly.com/question/1898733

#SPJ1

Which of the following statements is correct?

1 The demand curve for a purely competitive firm is perfectly elastic, but the demand curve for a purely competitive industry is downsloping.

2 The demand curve for a purely competitive firm is downsloping, but the demand curve for a purely competitive industry is perfectly elastic.

3 The demand curves are downsloping for both a purely competitive firm and a purely competitive industry.

4 The demand curves are perfectly elastic for both a purely competitive firm and a purely competitive industry.

Answers

The correct Statement is The demand curve for a purely competitive firm is perfectly elastic, but the demand curve for a purely competitive industry is downsloping. Thus option 1st is correct.

What is Demand Curve?

Demand curve refers to the Graphical presentation of the relationship of the price and the quantity of a particular firm.

Those firms that engages in pure competition, the demand curve is entirely elastic due to the the marginal revenue curve aligns with the firm's equilibrium price since each firm acts as a price taker.

The demand curve for a purely competitive industry is downsloping because as the level of the price increases for the product the demand of the product decreases which implies decreased production.

Thus option 1st is correct.

Learn more about demand curve here:

https://brainly.com/question/5217258

#SPJ1

Which is the best description of authorized shares?

Answers

The best description of authorized shares is he total amount of shares that can be publicly traded.

What are shares?

Shares are refers as  common equity interest in a firm. Dividends from any earnings the business may make are payable to shareholders.

Authorised shares is refers as number of shares legally permitted  to offer to investors. It also helps to decide how many of  shares are available to issue to investors.

Learn more about shares, here:

https://brainly.com/question/13931207

#SPJ1

Hakeem wants to diversify his investment portfolio. He wants an asset with
high liquidity, but his research suggests that buying land would help him meet
his diversification goals. Which type of investment is the best option for
Hakeem?
A. A real estate investment trust
B. A dividend stock
C. A Treasury bond
D. Commercial real estate

Answers

Answer:

D

Explanation:if he would invest in commercial real estate it would be  commercial so he could do anything with it

Question
A business operates based on a mark-up on cost of 40%. If opening inventory was GHC 5,000, sales were
GHC 98,000 and purchases were GHC 71,200, calculate the value of closing inventory.
A. GHC 70,000
B. GHC 68,600
C. GHC 29,400
D. GHC 6,200

Answers

Answer:

c 29,400

Explanation:

it the least number that Can you divide

operates a small grill on the boardwalk in Ocean City from April 1 through September 30 each year. During the busy season, Ranya needs regular deliveries of fresh ingredients that she uses to provide menu items to her customers. Ranya contracted with ABC LLP for the three times-weekly delivery of fresh vegetables including Romaine lettuce, Beefsteak tomatoes, and Vidalia onions (20 pounds of each for each delivery), starting on April 1 and finishing September 28. The contract provided that the service would cost Ranya $1,500 per week, payable on the first delivery each week that was scheduled for Mondays. The first delivery for the season did not arrive until April 2, and the order was missing Romaine lettuce. Ranya contacted ABC and they advised that they would deliver the missing lettuce on the next order that was scheduled for delivery on April 4. That delivery was also late, but this time, Ranya was missing the onions she needed (the ones delivered were spoiled). Expecting the problem to continue, Ranya contacted a different company to supply the vegetables she needed but the weekly cost for the replacement vendor is $2,000.

In 300-400 words, discuss: using UCC § 2-612, whether Ranya can terminate the agreement with ABC and whether ABC might be liable to Ranya for damages as of April 5.

Answers

Under Section 2 612 UCC, ABC might be liable to Ranya for damages as of April 5.

What is Section 2 612 UCC?

The Section 2 612 UCC is meant to explain the installment contract. When the buyer and the seller enters into the agreement of installment contract of the delivery of goods.  

The contract provides the right to the buyer for the reject of the contract for non-conforming installments.

As per the above scenario, Ranya can terminate the contract by not satisfied with the services of the company as the first delivery for the season did not arrived. Thus she can claim for the charges of the non completion of the delivery.

She can claim for late delivery, delivered items spoiled and missing of the items. Therefore, ABC might be liable to Ranya for damages.

Learn more about Section 2 612 UCC here:

https://brainly.com/question/14957422

#SPJ1

Firms are becoming ever more dependent upon electronic communication channels for many reasons, including: virtual employees, growth of project complexity, the global marketplace, and the fact that customers can now come from everywhere. Do you believe that high quality virtual presence (video, audio, shared documents, etc.) is becoming more important? Explain your answer.

Answers

Yes they are becoming more important because we are allowed to store more storage

Kacy is working on an advertising campaign. What is her position

Answers

The position of Kacy while working on an advertising campaign is called an Advertising Manager.

What is advertising?

Advertising is the task of promoting the products manufactured by a company through ads on various electronic devices.

The Advertising Manager is a professional who works in advertising agencies in the respect of advertising campaigns for their respective clients. They usually collaborate with the sales department in creating and presenting the advertisements and which medium has to be used for adverting those ads.

Therefore, the Adverting manager would describe the designation of Kacy as working for an adverting campaign.

Learn more about the advertising in the related link:

https://brainly.com/question/3163475

#SPJ1

Can financial markets help deploy renewables? Please explain in three sentences.

Answers

The global renewable energy market was valued at $881.7billion in 2020, and is projected to reach $1,977.6 billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030

Eileen is setting up a company in QuickBooks Online and needs to fill in opening balances for vendors. What is the best way to record opening vendor balances and why?

Answers

The best ways is to fill in the opening balance in the vendor details dialogue box. This method is quick, and one may finish it when one create the vendor.

The Vendor Balance Summary report summarizes the company's obligations and overpayments to certain vendors. The overarching goal of this report is to identify accounting irregularities. View the Vendor Balance Detailed report for further information on the vendor's balance.

The following information is included in the report:

Vendor: Either the vendor indicated in the preceding filtering choices or all suppliers accessible to the firm.Balance: The amount owed to a certain vendor or the credit/overpayment amount (marked with brackets).Totals: The total amount owed or payed to the suppliers listed.

To learn more about opening balance of vendors click on :

"https://brainly.com/question/4688609"

#SPJ10

Deciding on a specific course of study in college typically involves choosing blank

Answers

Answer: i think a career path

Explanation:

Answer: Academic Major

Explanation:

Got it right

Other Questions
which information should be part of the ed record for a sexual assault patient? Help, Help, Brainliest available to the best Answer!Find the Variance In the homecoming game, the field goal kicker attempts to make a 47 yard (43 m) field goal. He kicks with an initial velocity of 20 m/s at an angle of 60 The field goal posts are 3 m high. Does he make the field goal? Explain your answer. William can pack 60 toys in 4 hours. Find the unit rate with which he packs toys.O14 toys/hourO13 toys/hour15 toys/hour16 toys/hour Please help me!!!!!! does y - x = 2 show direct variation what points does a legislature have to consider while formulating law? BRAINLIEST AND MORE POINTS Under her cell phone plan, Aubree pays a flat cost of $58.50 per month and $3 per gigabyte. She wants to keep her bill at $72.30 per month. How many gigabytes of data can she use while staying within her budget? What was the nickname for President Reagans plan to destroy Soviet nuclear missiles in space? Which of these is a reason an engineer may choose to use a prefabricatedbuilding component?A. She wants to make the building more original and unique.B. She wants to use standard materials to minimize negativeenvironmental impacts.C. She wants to make the building safer.OD. She is not on a strict timeline. Suppose that g(x) = f(x) + 6. Which statement best compares the graph of g(x) with the graph of f(x)? A) The graph of g(x) is the graph of f(x) shifted 6 units down. B) The graph of g(x) is the graph of f(x) shifted 6 units to the left. C) The graph of g(x) is the graph of f(x) shifted 6 units up. help please D: How many task should an effective to-do list have ? A) fewer than 20 B) fewer than five C) more than 100 D)more than 50 Your kitchen is full of plants from different classes. Identify five different plants (or fruits of those plants, or products of those plants) and their class. A loan in which a parent deposits money with a host-country bank, which then lends the money to a subsidiary located in the host country is known as a(n) ________. Please help Im confused Hongwu was so afraid of someone taking his power that he Hongwu was so afraid of someone taking his power that he_____.A. Had no advisers or prime ministers B. Banned foreigners from China C. had all of the upperclass individuals killed Which lines from "Baseball" use words with a funny connotation to explain just how important it still is to the speaker that he caught the ball? (Select all correct answers.)"You're no good, Bill. You won't catch this one""I . . . felt my body rust, falling / in pieces to the ground""He's gonna drop it!""The game was over / a million years ago." Tommy wishes to determine the return on two stocks she owned in 2019. At the beginning of the year, stock X traded for $81per share. During the year, X paid dividends of $5 At the end of the year, Xstock was worth $72 Calculate the annual rate of return, r, for X (Enter the answer in % format without % sign -> 20.51 and not 20.51% or 0.2051) You are walking directly away from your house.You are 5 miles away from your house whenyou start walking, so you can determine yourdistance from your house by adding 5 to thenumber of miles you have walked. In theequation below, a represents the number ofmiles you have walked, and y represents yourdistance from home in miles.The relationship between these two variablescan be expressed by the following equation:y = x + 5Identify the dependent and independentvariables.Your distancefrom homeNumber ofmiles youwalkDependentvariableIndependentvariable