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9. Use the information in the table below to answer the following questions Production per unit...
Please help me to figure it out, thanks! 9. Use the information in the table below...
Please help me to figure it out, thanks!
9. Use the information in the table below to answer the following questions. Unit labor requirement Food 100 180 Home Foreign Drinks 500300 Suppose Home's labor supply is 1,000 hours, and Foreign's labor supply is 2,700 hours (a) Draw the PPF for Home and for Foreign (on separate graphs). Put production of food on the x-axis. (b) Which country has the comparative advantage in food production? Which has the comparative advantage in...
Please help me to figure it out, thanks 9. Use the information in the table below...
Please help me to figure it out, thanks
9. Use the information in the table below to answer the following questions. Unit labor requirement Food 100 180 Home Foreign Drinks 500300 Suppose Home's labor supply is 1,000 hours, and Foreign's labor supply is 2,700 hours (a) Draw the PPF for Home and for Foreign (on separate graphs). Put production of food on the x-axis. (b) Which country has the comparative advantage in food production? Which has the comparative advantage in...
(a) Draw the PPF for Home and for Foreign (on separate graphs). Put production of food...
(a) Draw the PPF for Home and for Foreign (on separate graphs).
Put production of food on the x-axis. 5 (b) Which country has the
comparative advantage in food production? Which has the comparative
advantage in drink production? (c) Draw the world supply of food
relative to drinks (the world relative supply curve) (d) Suppose
that the PF ood = $2/pound, and PDrinks = $5/gallon. Draw new PPFs
for Home and Foreign after trade is allowed. How can we tell...
Product Home F Foreign aLX = 0.5 at y-0.5 LX air = 2 Table 1: Labor...
Product Home F Foreign aLX = 0.5 at y-0.5 LX air = 2 Table 1: Labor hours per unit of outputs Bach oi these two economies is endowed with 500 labor hours (ie, L = L*-500). We were unable to transcribe this imagehas higher "relative labor 3. Relative to labor productivity in product Y, productivity" in product X A) Home B) Foreign C) Neither Home nor Foreign D) undertermined 4. Which of the following represents Home's production-possibility frontier 650 500...
Answer questions 1 and 10 based on a global economy of two Ricardian economies (Home, Foreign)...
Answer questions 1 and 10 based on a global economy of two Ricardian economies (Home, Foreign) whose industry technologies are given in the following table Product Home Foreign aLX = 0.5 0.5 Table 1: Labor hours per unit of outputs Each of these two economies is endowed with 500 labor hours (i.e. L- L*-500) 8. Again, suppose that both Home and Foreign move from autarky to a free-trade regime and that the trade price of product X is 0.4Y. If...
3. Suppose that Home and Foreign are the only countries in the world and that labor...
3. Suppose that Home and Foreign are the only countries in the world and that labor is the only productive input. At Home, it requires 1 hours of labor to produce 4 Airplanes (A) and 1 hours of labor to produce 5 Bicycles (B). In Foreign, it requires 1 hour of labor to produce 1 Airplane (A) and 1 hour of labor to produce 2 Bicycles (B). Assume that consumers in each country consume the amounts identified in the following...
Answer questions 3 through 6 based on the following information: There are two countries, Home and...
Answer questions 3 through 6 based on the following information: There are two countries, Home and Foreign, in a hypothetical world. Each of these two countries are Ricardian economies. Each country is endowed with 100 labor hours. Each country can use labor to produce two goods, cheese and car. The following table shows labor requirements per unit of each good in each country. Perfect competition prevails everywhere in the two-country world. Suppose that w and w*represent Home's and Foreign's hourly...
Answer questions 3 through 6 based on the following information: There are two countries, Home and...
Answer questions 3 through 6 based on the following information: There are two countries, Home and Foreign, in a hypothetical world. Each of these two countries are Ricardian economies. Each country is endowed with 100 labor hours. Each country can use labor to produce two goods, cheese and car. The following table shows labor requirements per unit of each good in each country. Perfect competition prevails everywhere in the two-country world. Suppose that w and w*represent Home's and Foreign's hourly...
wh. laa Answer questions 3 through 6 based on the following information: There are two countries,...
wh. laa Answer questions 3 through 6 based on the following information: There are two countries, Home and Foreign, in a hypothetical world. Each of these two countries are Ricardian economies. Each country is endowed with 100 labor hours. Each country can use labor to produce two goods, cheese and car. The following table shows labor requirements per unit of each good in each country. Perfect competition prevails everywhere in the two-country world. Suppose that w and w represent Home's...
this is autarky? Answer questions 1 and 10 based on a global economy of two Ricardian...
this is autarky?
Answer questions 1 and 10 based on a global economy of two Ricardian economies (Home, Foreign) whose industry technologies are given in the following table: Product aLx 0.5 aLY = 1 Foreign a*x = 0.5 aLY Table 1: Labor hours per unit of outputs Each of these two economies is endowed with 500 labor hours (ie, L-L'-500). 10. Again, suppose that both Home and Foreign move from autarky to a free-trade regime and that the trade price...
Please help me to figure it out, thanks!
9. Use the information in the table below to answer the following questions. Unit labor requirement Food 100 180 Home Foreign Drinks 500300 Suppose Home's labor supply is 1,000 hours, and Foreign's labor supply is 2,700 hours (a) Draw the PPF for Home and for Foreign (on separate graphs). Put production of food on the x-axis. (b) Which country has the comparative advantage in food production? Which has the comparative advantage in...
Please help me to figure it out, thanks
9. Use the information in the table below to answer the following questions. Unit labor requirement Food 100 180 Home Foreign Drinks 500300 Suppose Home's labor supply is 1,000 hours, and Foreign's labor supply is 2,700 hours (a) Draw the PPF for Home and for Foreign (on separate graphs). Put production of food on the x-axis. (b) Which country has the comparative advantage in food production? Which has the comparative advantage in...
(a) Draw the PPF for Home and for Foreign (on separate graphs).
Put production of food on the x-axis. 5 (b) Which country has the
comparative advantage in food production? Which has the comparative
advantage in drink production? (c) Draw the world supply of food
relative to drinks (the world relative supply curve) (d) Suppose
that the PF ood = $2/pound, and PDrinks = $5/gallon. Draw new PPFs
for Home and Foreign after trade is allowed. How can we tell...
Product Home F Foreign aLX = 0.5 at y-0.5 LX air = 2 Table 1: Labor hours per unit of outputs Bach oi these two economies is endowed with 500 labor hours (ie, L = L*-500). We were unable to transcribe this imagehas higher "relative labor 3. Relative to labor productivity in product Y, productivity" in product X A) Home B) Foreign C) Neither Home nor Foreign D) undertermined 4. Which of the following represents Home's production-possibility frontier 650 500...
Answer questions 1 and 10 based on a global economy of two Ricardian economies (Home, Foreign) whose industry technologies are given in the following table Product Home Foreign aLX = 0.5 0.5 Table 1: Labor hours per unit of outputs Each of these two economies is endowed with 500 labor hours (i.e. L- L*-500) 8. Again, suppose that both Home and Foreign move from autarky to a free-trade regime and that the trade price of product X is 0.4Y. If...
3. Suppose that Home and Foreign are the only countries in the world and that labor is the only productive input. At Home, it requires 1 hours of labor to produce 4 Airplanes (A) and 1 hours of labor to produce 5 Bicycles (B). In Foreign, it requires 1 hour of labor to produce 1 Airplane (A) and 1 hour of labor to produce 2 Bicycles (B). Assume that consumers in each country consume the amounts identified in the following...
Answer questions 3 through 6 based on the following information: There are two countries, Home and Foreign, in a hypothetical world. Each of these two countries are Ricardian economies. Each country is endowed with 100 labor hours. Each country can use labor to produce two goods, cheese and car. The following table shows labor requirements per unit of each good in each country. Perfect competition prevails everywhere in the two-country world. Suppose that w and w*represent Home's and Foreign's hourly...
Answer questions 3 through 6 based on the following information: There are two countries, Home and Foreign, in a hypothetical world. Each of these two countries are Ricardian economies. Each country is endowed with 100 labor hours. Each country can use labor to produce two goods, cheese and car. The following table shows labor requirements per unit of each good in each country. Perfect competition prevails everywhere in the two-country world. Suppose that w and w*represent Home's and Foreign's hourly...
wh. laa Answer questions 3 through 6 based on the following information: There are two countries, Home and Foreign, in a hypothetical world. Each of these two countries are Ricardian economies. Each country is endowed with 100 labor hours. Each country can use labor to produce two goods, cheese and car. The following table shows labor requirements per unit of each good in each country. Perfect competition prevails everywhere in the two-country world. Suppose that w and w represent Home's...
this is autarky?
Answer questions 1 and 10 based on a global economy of two Ricardian economies (Home, Foreign) whose industry technologies are given in the following table: Product aLx 0.5 aLY = 1 Foreign a*x = 0.5 aLY Table 1: Labor hours per unit of outputs Each of these two economies is endowed with 500 labor hours (ie, L-L'-500). 10. Again, suppose that both Home and Foreign move from autarky to a free-trade regime and that the trade price...
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