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Suppose France can produce four phones or three computers with one unit of...
Suppose that in a year an American worker can produce 100 shirts or 20 computers and...
Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. 1. For each country, graph the production possibilities frontier. Suppose that without trade the workers in each country spend half their time producing each good. Identify this point in your graphs. 2. Who has the comparative advantage in the production of shirts? What about for computers? 3. If these countries were open to...
Assume that both Italy and France can produce cheese and wine. Italian workers can produce either...
Assume that both Italy and France can produce cheese and wine. Italian workers can produce either 200 cases of wine or 600 pounds of cheese in one month and French workers can produce 250 cases of wine or 500 pounds of cheese in one month. Assume constant opportunity costs. Graph the PPF/PPC for each country on a single graph Which country has the absolute advantage in wine? ___________ Which country has the absolute advantage in cheese? __________ What is the...
need help with d and e 1. Comparative Advantage (1.5 marks) Analyze the following two countries....
need help with d and e
1. Comparative Advantage (1.5 marks) Analyze the following two countries. In one day in Germany, it takes 24 workers to produce an airplane and 6 workers to produce a boat. In one day in France, it takes 8 workers to produce an airplane and 4 workers to produce a boat. Both countries have 48 workers available each day. Draw the PPF of each country for one day's worth of production. Use a separate graph...
This question is about specialization and trade. A.) Suppose a worker in the U.S. can produce...
This question is about specialization and trade. A.) Suppose a worker in the U.S. can produce 4 cars or 10 computers. A worker in Russia can produce 2 cars or 10 computers. Suppose that the U.S. has 100,000 workers and Russia has 200,000 workers. Draw the PPF for each country. Be sure to keep the axes on the two graphs consistent. B.) Compute absolute advantage C.) Compute comparative advantage D.) Suppose that the U.S. makes only what they have comparative...
The countries of Utopia and Greatland have the following production possibilities: Greatland: lumber- 50 Computers- 75...
The countries of Utopia and Greatland have the following production possibilities: Greatland: lumber- 50 Computers- 75 Utopia: lumbar- 80 Computers- 100 a) Which country has absolute advantage in lumber? In computers? b) Which country has comparative advantage in lumber? In computers? c) If Utopia produces 40 lumber, how many computers can it produce? If Greatland produces 25 computers, how many lumber can it produce? d) Fill out the opportunity cost table below: Greatland 1 lumbar 1 computer Utopia 1 lumber...
Suppose that in a year an American worker can produce 60 shirts or 30 computers and...
Suppose that in a year an American worker can produce 60 shirts
or 30 computers and a Chinese worker can produce 60 shirts or 12
computers. There are 1 million workers in each country.
Use the blue line (circle symbol) to graph the production
possibilities frontier (PPF) for the United States, and use the
green line (triangle symbol) to graph the production possibilities
frontier for China.
Suppose that without trade the workers in each country spend
half their time producing...
Suppose that in a year an American worker can produce 80 shirts or 20 computers and...
Suppose that in a year an American worker can produce 80 shirts or 20 computers and a Chinese worker can produce 60 shirts or 20 computers. There are 1 million workers in each country. Use the blue line (circle symbol) to graph the production possibilities frontier (PPF) for the United States, and use the green line (triangle symbol) to graph the production psies frontier for China 30 27 24 21 18 China PPF 15 U.S. without Trade China without Trade...
Q.4 (18 points) Suppose that Germany and France both produce cheese and wine. The amount of...
Q.4 (18 points) Suppose that Germany and France both produce cheese and wine. The amount of production of the two countries are shown in the following table. Assume that the opportunity cost is constant. Daily production Produce cheese only (pounds) Produce wine only (bottles) Germany 300 1.50 France 150 100 (a) Draw the PPF for Germany. Put cheese on the vertical axis, and wine on the horizontal axis. Indicate the values of both intercepts. (b) Which country has the absolute...
10) Suppose the US and Mexico both can produce cars and beer. The following chart shows...
10) Suppose the US and Mexico both can produce cars and beer. The following chart shows what 100 workers can produce in one day in each country. Country Car Production-100 Beer Production (truckload)- 100 or workers workers United States 300 or 1200 Mexico 200 1000 or For this question, assume they can use the same workers to produce any amount in between the two and the opportunity cost is constant straight PPF a) Use the info in the table to...
0.25 points9) Refer to the above table which shows the alternative outputs which can be produced...
0.25 points9) Refer to the above table which shows the
alternative outputs which can be produced in 2 different countries
with 1 year of labor. It can be concluded that Sweden has a(n)
A.) absolute advantage in both goods and a comparative advantage
only in autos.
B.) absolute advantage in both goods and a comparative advantage
only in computers.
C.) absolute advantage in both goods and a comparative advantage
in both goods.
D.) absolute advantage in both goods and a...
need help with d and e
1. Comparative Advantage (1.5 marks) Analyze the following two countries. In one day in Germany, it takes 24 workers to produce an airplane and 6 workers to produce a boat. In one day in France, it takes 8 workers to produce an airplane and 4 workers to produce a boat. Both countries have 48 workers available each day. Draw the PPF of each country for one day's worth of production. Use a separate graph...
Suppose that in a year an American worker can produce 60 shirts
or 30 computers and a Chinese worker can produce 60 shirts or 12
computers. There are 1 million workers in each country.
Use the blue line (circle symbol) to graph the production
possibilities frontier (PPF) for the United States, and use the
green line (triangle symbol) to graph the production possibilities
frontier for China.
Suppose that without trade the workers in each country spend
half their time producing...
Suppose that in a year an American worker can produce 80 shirts or 20 computers and a Chinese worker can produce 60 shirts or 20 computers. There are 1 million workers in each country. Use the blue line (circle symbol) to graph the production possibilities frontier (PPF) for the United States, and use the green line (triangle symbol) to graph the production psies frontier for China 30 27 24 21 18 China PPF 15 U.S. without Trade China without Trade...
Q.4 (18 points) Suppose that Germany and France both produce cheese and wine. The amount of production of the two countries are shown in the following table. Assume that the opportunity cost is constant. Daily production Produce cheese only (pounds) Produce wine only (bottles) Germany 300 1.50 France 150 100 (a) Draw the PPF for Germany. Put cheese on the vertical axis, and wine on the horizontal axis. Indicate the values of both intercepts. (b) Which country has the absolute...
10) Suppose the US and Mexico both can produce cars and beer. The following chart shows what 100 workers can produce in one day in each country. Country Car Production-100 Beer Production (truckload)- 100 or workers workers United States 300 or 1200 Mexico 200 1000 or For this question, assume they can use the same workers to produce any amount in between the two and the opportunity cost is constant straight PPF a) Use the info in the table to...
0.25 points9) Refer to the above table which shows the
alternative outputs which can be produced in 2 different countries
with 1 year of labor. It can be concluded that Sweden has a(n)
A.) absolute advantage in both goods and a comparative advantage
only in autos.
B.) absolute advantage in both goods and a comparative advantage
only in computers.
C.) absolute advantage in both goods and a comparative advantage
in both goods.
D.) absolute advantage in both goods and a...
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