Homework Answers
10) homes and foreign from free trade is respectively 50 and zero units of products X.
11)international trade can generate efficiency gains to all trading nations, because more resources are allocated to absolute advantage industries every where, all countries specializes in comparatively advantaged industries. and also trade shifts ppf outwords every where so here all the above are true.
12)international trade can enforce every nation to undergo economic restructuring in the real world. this is because international competition can make all the above situation given . the dis advantage industries and monopolies will come to an end and nation will specialise in the production of things that they have advantage on.
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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...
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...
6. Suppose that both Home and Foreign move from autarky to a free-trade regime and the...
6. Suppose that both Home and Foreign move from autarky to a free-trade regime and the trade price of product X is 0.4Y. From the Hone perspective, the trade price is than the marginal cost of product X, which isSo, the Home economy under free trade. So, the X industry must A) smaller; 0.5Y; exit B) greater; 0.5Y; overtake C) smaller; 0.25Y; exit D) greater; 0.25Y; overtake 1. Again, suppose that both Home and Foreign move from autarky to a...
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...
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...
Answer questions 3 through 6 based on the following information: There are two and Foreign, in...
Answer questions 3 through 6 based on the following information: There are two and Foreign, in a hypothetical world. Each of these two countries are Ricardian economies. Each country is endowed with 100 labor hours. Each country 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 wage rates, respectively. countries, Home can use labor to produce...
Labor Force Home Foreign Marginal Product of Labor Shirts Apples MPLs = 2 MPLA = 5...
Labor Force Home Foreign Marginal Product of Labor Shirts Apples MPLs = 2 MPLA = 5 MPLs* = 1 MPLA* = 2 L =100 L* = 240 For Questions 9-11 below, assume that the Home and Foreign countries are engaged in free trade. 9. The Foreign country exports apples under free trade. True, Free trade price = .45 and OC is lower for apples 10. The Foreign country's terms-of-trade must be above 2 under free trade. 11. If we know...
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...
1 The following data are for the two products produced by Tadros Company. Product $25 per...
1 The following data are for the two products produced by Tadros Company. Product $25 per unit Product A Direct materials Direct labor hours Machine hours Batches Volume Engineering modifications Number of customers $15 per unit 0.5 DLH per unit 0.4 MH per unit 115 batches 10,000 units 11 modifications 500 customers 1.5 DLH per unit 1.1 MH per unit 230 batches 2,000 units 55 modifications 400 customers 95 per unit per unit Market price $35 per unit Print The...
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...
6. Suppose that both Home and Foreign move from autarky to a free-trade regime and the trade price of product X is 0.4Y. From the Hone perspective, the trade price is than the marginal cost of product X, which isSo, the Home economy under free trade. So, the X industry must A) smaller; 0.5Y; exit B) greater; 0.5Y; overtake C) smaller; 0.25Y; exit D) greater; 0.25Y; overtake 1. Again, suppose that both Home and Foreign move from autarky to a...
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...
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...
Answer questions 3 through 6 based on the following information: There are two and Foreign, in a hypothetical world. Each of these two countries are Ricardian economies. Each country is endowed with 100 labor hours. Each country 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 wage rates, respectively. countries, Home can use labor to produce...
Labor Force Home Foreign Marginal Product of Labor Shirts Apples MPLs = 2 MPLA = 5 MPLs* = 1 MPLA* = 2 L =100 L* = 240 For Questions 9-11 below, assume that the Home and Foreign countries are engaged in free trade. 9. The Foreign country exports apples under free trade. True, Free trade price = .45 and OC is lower for apples 10. The Foreign country's terms-of-trade must be above 2 under free trade. 11. If we know...
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...
1 The following data are for the two products produced by Tadros Company. Product $25 per unit Product A Direct materials Direct labor hours Machine hours Batches Volume Engineering modifications Number of customers $15 per unit 0.5 DLH per unit 0.4 MH per unit 115 batches 10,000 units 11 modifications 500 customers 1.5 DLH per unit 1.1 MH per unit 230 batches 2,000 units 55 modifications 400 customers 95 per unit per unit Market price $35 per unit Print The...
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