Suppose producing a unit of good A requires 2 hours of labor and producing a unit...
Suppose producing a unit of good A requires 2 hours of labor and producing a unit of good B requires 4 hours of labor. The opportunity cost of good A is ----. If the world relative price of good A is 1, then this country will export ----.
A 1/2 unit of good B; good A
B 1/2 unit of good B; good B
C 2 units of good B; good A
D 2 units of good B; good B
Homework Answers
A good A requires 2 hours of labor and B takes 4 hours of labor. we can produce 2 A and 1 B in 4 hours,
The opportunity cost of A is 1/2 unit of good B; If the world price 1 and local price is 1/2 they we will be exporting good A.
The answer is "A".
Add Answer to:
Suppose producing a unit of good A requires 2 hours of labor and
producing a unit...
ll Verizon LTE 33%).о. 10:25 PM 2 Question Opportunity costs and trade Unanswered Suppose producing a...
ll Verizon LTE 33%).о. 10:25 PM 2 Question Opportunity costs and trade Unanswered Suppose producing a unit of good A requires2 hours of labor and producing a unit of good B requires 4 hours of labor. The opportunity cost of good A is If the world relative price of good A is 1, then this country will export 1/2 unit of good B: good A B 1/2 unit of good B; good B C 2 units of good B; good...
Assume that in country A, the unit labor requirement for producing good X is 100 hours,...
Assume that in country A, the unit labor requirement for producing good X is 100 hours, and the unit labor requirement for good Y is 20 hours. Meanwhile in country B, the unit labor requirement for producing good X is 80 hours and the unit labor requirement for good Y is 40 hours. Answer the following: Explain which country has an absolute advantage in each good. Explain which country has a comparative advantage in each good. Under the Theory of...
Assume that in country A, the unit labor requirement for producing good X is 100 hours,...
Assume that in country A, the unit labor requirement for producing good X is 100 hours, and the unit labor requirement for good Y is 20 hours. Meanwhile in country B, the unit labor requirement for producing good X is 80 hours and the unit labor requirement for good Y is 40 hours. Answer the following: Explain which country has an absolute advantage in each good. Explain which country has a comparative advantage in each good. Under the Theory of...
Suppose that: In Malaysia the unit labor requirement (ULR) to produce a pound of rice and a pencil are 1 and 2 hours of...
Suppose that: In Malaysia the unit labor requirement (ULR) to produce a pound of rice and a pencil are 1 and 2 hours of labor respectively; In Indonesia, the unit labor requirement to produce a pound of rice and a pencil are 2 and 3 hours respectively; each country has 10,000 hours of labor to allocate between the production of rice and pencils; and in autarky, Malaysia consumes 5,000 pounds of rice and 2,500 pencils. When trade occurs, the world...
Suppose television production requires 20 units of labor and 4 units of land. Rice requires 1...
Suppose television production requires 20 units of labor and 4 units of land. Rice requires 1 unit of labor and 4 units of land. If there is no trade, which good will be relatively cheaper in each country? If a free trade occurs, what will happen with relative prices of goods? If a free trade occurs, What will happen with the factors prices? Does this happen in the real world? Explain why yes or why not.
Please answer the questions below based on the data provided: Argentina, 10,000 hours of labor/month: –Producing...
Please answer the questions below based on the data provided: Argentina, 10,000 hours of labor/month: –Producing 1 pound coffee requires 2 hours –Producing one bottle wine requires 4 hours Brazil, 10,000 hours of labor/month: –Producing 1 pound coffee requires 1 hour –Producing one bottle wine requires 5 hours Which country has an absolute advantage in the production of coffee? Why? Complete an opportunity cost matrix, and determine the country with a comparative advantage in coffee and then wine. What is...
ow h 5. Suppose that in the United States, producing an air- craft takes 10,000 hours...
ow h 5. Suppose that in the United States, producing an air- craft takes 10,000 hours of labor and producing a shirt takes 2 hours of labor. In China, producing an aircraft takes 40,000 hours of labor and producing a shirt takes 4 hours of labor. What will these nations trade? a. China will export aircraft, and the United States will export shirts. b. China will export shirts, and the United States will export aircraft. c. Both nations will export...
Suppose a small country producing cars (C) and food (F) is closed to free trade. Its...
Suppose a small country producing cars (C) and food (F) is closed to free trade. Its production possibilities frontier (PPF) reflects increasing costs (it’s bowed out). Finally, preferences in this country are such that consumers like both goods equally: U(DC , DF ) = D 1 2 CD 1 2 F . (a) Using graphs, show the autarky equilibrium in this country. Show both (i) a graph of the PPF and indifference curve, and (ii) a graph of relative demand...
27. Given the following Ricardo-type table showing the labor input required per unit of put in...
27. Given the following Ricardo-type table showing the labor input required per unit of put in each of the two industries in each of the two countries Shirts Brandy 5 days 12 days United States France 10 days 6 days If the countries engage in trade at post-trade prices (terms of trade) of 1 shirt 0.5 brandy, then A) France gets all the gains from trade B) the United States gets all the gains from trade C) neither country gains...
Suppose that in Australia, it takes two hours of labor to harvest 20 bushels of apples...
Suppose that in Australia, it takes two hours of labor to harvest 20 bushels of apples and three hours of labor to harvest 20 bushels of tomatoes. Further, suppose that in Brazil it takes three hours of labor to harvest 20 bushels of apples and five hours of labor to produce 20 bushels of tomatoes. I. Compute the opportunity cost per unit for each good in both countries. 2. Summarize the results in an appropriate table 3. Which of the...
ll Verizon LTE 33%).о. 10:25 PM 2 Question Opportunity costs and trade Unanswered Suppose producing a unit of good A requires2 hours of labor and producing a unit of good B requires 4 hours of labor. The opportunity cost of good A is If the world relative price of good A is 1, then this country will export 1/2 unit of good B: good A B 1/2 unit of good B; good B C 2 units of good B; good...
Suppose that: In Malaysia the unit labor requirement (ULR) to produce a pound of rice and a pencil are 1 and 2 hours of labor respectively; In Indonesia, the unit labor requirement to produce a pound of rice and a pencil are 2 and 3 hours respectively; each country has 10,000 hours of labor to allocate between the production of rice and pencils; and in autarky, Malaysia consumes 5,000 pounds of rice and 2,500 pencils. When trade occurs, the world...
ow h 5. Suppose that in the United States, producing an air- craft takes 10,000 hours of labor and producing a shirt takes 2 hours of labor. In China, producing an aircraft takes 40,000 hours of labor and producing a shirt takes 4 hours of labor. What will these nations trade? a. China will export aircraft, and the United States will export shirts. b. China will export shirts, and the United States will export aircraft. c. Both nations will export...
27. Given the following Ricardo-type table showing the labor input required per unit of put in each of the two industries in each of the two countries Shirts Brandy 5 days 12 days United States France 10 days 6 days If the countries engage in trade at post-trade prices (terms of trade) of 1 shirt 0.5 brandy, then A) France gets all the gains from trade B) the United States gets all the gains from trade C) neither country gains...
Suppose that in Australia, it takes two hours of labor to harvest 20 bushels of apples and three hours of labor to harvest 20 bushels of tomatoes. Further, suppose that in Brazil it takes three hours of labor to harvest 20 bushels of apples and five hours of labor to produce 20 bushels of tomatoes. I. Compute the opportunity cost per unit for each good in both countries. 2. Summarize the results in an appropriate table 3. Which of the...
Most questions answered within 3 hours.
-
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 57 minutes ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 59 minutes ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 1 hour ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 1 hour ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 1 hour ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 1 hour ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 1 hour ago -
Write MARIE assembly language programs that do the following:
Write a program that inputs an integer...
asked 1 hour ago -
Explain an understanding of services and protocols.
Explain the job of DNS.
Explain the three email...
asked 1 hour ago -
(As soon as possible) Balance each of the following equations
according to the half-reaction method:
H2O2(aq)...
asked 2 hours ago -
A thin rod with a mass of 3.5kg and a length L=1.5 m is oriented
horizontally....
asked 2 hours ago -
Inheritance pattern in BRCA 1
Describe the inheritance pattern of BRCA 1 Is it recessive or...
asked 2 hours ago