Homework Answers
The opportunity cost of producing Wine is US is 32/16 = 2 cheese and in France it is 4/8 = 0.5 cheese.
As the opportunity cost is lower for France in Wine they have a comparative advantage in wine and and US in Cheese. the answer is "B".
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QUESTION 38 Table 3-32 US and French Production Opportunities Cheese (in millions of lbs.) Wine (in...
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...
International Trade The table below shows how much cheese and how much wine an hour of...
International Trade The table below shows how much cheese and how much wine an hour of labor produces in Portugal and in Spain. Cheese (kg) Wine (liters) Portugal 1 0.8 Spain 0.2 0.4 Saved In the scenario above, Portugal has an absolute advantage in producing: Question 26 options: Wine Cheese Neither good Both goods In the scenario above, in Spain the opportunity cost of 1 kg of cheese is _____ liters of wine. Question 27 options: 0.5 1.25 5 2...
QUESTION 19 Which of the following is included in the investment component of GDP? a. purchase...
QUESTION 19 Which of the following is included in the investment component of GDP? a. purchase of a house by Maya which was build in 2017. b. the market value of semi finished goods. O production by an American company outside the U.S. Od market value of the finished goods which are not yet sold QUESTION 20 Table Canada and Germany Production Opportunities Juice (in millions of gallons) Butter (in millions of lbs.) Canada 32 Germany Refer to Table: Germany...
just need e and f Q.4 (18 points) Suppose that Germany and France both produce cheese...
just need e and f
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. Germany France Daily production Produce cheese only (pounds) Produce wine only (bottles) 300 150 150 100 (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)...
please answer F too :) Q.4 (18 points) Suppose that Germany and France both produce cheese...
please answer F too :)
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)...
Suppose that France and Gernany both produce wine and schrel The tabk belaw shows combinations of...
Suppose that France and Gernany both produce wine and schrel The tabk belaw shows combinations of the gaots that each country can produce in a day France Germany Wine (Bottles) Schnitzel (Pounds) Winc (Bottles 20 16 Who has the comparative advatage in producing wine arid wha has the comparative advantage in producing schrilzel? O A. France has a comparative advantage producing schnitzel and Germany has a comparative advantage producing wine. ⓔ France has a comparatns advantage producing wine and Germany...
Consider a two countries, Portugal and England, that produce two goods, wine and cheese, with only...
Consider a two countries, Portugal and England, that produce two goods, wine and cheese, with only one factor of production, Labor. In England, one unit of labor can produce 2 units of wine or 1 unit of cheese. In Portugal, one unit of labor can produce 3 units of wine or 1/2 of cheese. There are 100 units of labor in Portugal, and 100 in England. Countries share the same tastes, and there is perfect competition. 1) Fill in the...
You have to answer the questions that I have typed out, the screenshots are just the...
You have to answer the questions that I have typed out, the
screenshots are just the data (disregard the questions on the
screenshot/worksheet)
Question 1 (10 points)
Refer to HW #7. Does either country have an absolute advantage
in the production of the two goods?
Question 1 options:
Spain has an absolute advantage in the production of both
goods.
England has an absolute advantage in the production of cheese
and Spain has an absolute advantage in the production of bread....
Table 3-20 Assume that Brad and Theresa can switch between producing wheat and producing beef at...
Table 3-20 Assume that Brad and Theresa can switch between producing wheat and producing beef at a constant rate. Minutes Needed to Make 1 Bushel of Wheat Pound of Beef Brad 10 12 Theresa 6 10 Refer to Table 3-20. Brad has a comparative advantage in the production of wheat and Theresa has a comparative advantage in the production of beef. beef and Theresa has a comparative advantage in the production of wheat. both goods and Theresa...
COFFEE (Milions of pounds) 3 COFFEE (Millions of pounds) 64T Sylvania u 24 24 PPF 0...
COFFEE (Milions of pounds) 3 COFFEE (Millions of pounds) 64T Sylvania u 24 24 PPF 0 16 24 32 4048 566 POTATOES (Milions of pounds) 0 16 24 32 40 56 64 POTATOES (Milions of pounds) Freedonia has a comparative advantage in the production of production of comparative advantage. After specialization, the two countri potatoes , while Sylvania has a comparative advantage in the in the production of the goods in which each has a million pounds of Suppose million...
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...
QUESTION 19 Which of the following is included in the investment component of GDP? a. purchase of a house by Maya which was build in 2017. b. the market value of semi finished goods. O production by an American company outside the U.S. Od market value of the finished goods which are not yet sold QUESTION 20 Table Canada and Germany Production Opportunities Juice (in millions of gallons) Butter (in millions of lbs.) Canada 32 Germany Refer to Table: Germany...
just need e and f
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. Germany France Daily production Produce cheese only (pounds) Produce wine only (bottles) 300 150 150 100 (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)...
please answer F too :)
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)...
Suppose that France and Gernany both produce wine and schrel The tabk belaw shows combinations of the gaots that each country can produce in a day France Germany Wine (Bottles) Schnitzel (Pounds) Winc (Bottles 20 16 Who has the comparative advatage in producing wine arid wha has the comparative advantage in producing schrilzel? O A. France has a comparative advantage producing schnitzel and Germany has a comparative advantage producing wine. ⓔ France has a comparatns advantage producing wine and Germany...
You have to answer the questions that I have typed out, the
screenshots are just the data (disregard the questions on the
screenshot/worksheet)
Question 1 (10 points)
Refer to HW #7. Does either country have an absolute advantage
in the production of the two goods?
Question 1 options:
Spain has an absolute advantage in the production of both
goods.
England has an absolute advantage in the production of cheese
and Spain has an absolute advantage in the production of bread....
COFFEE (Milions of pounds) 3 COFFEE (Millions of pounds) 64T Sylvania u 24 24 PPF 0 16 24 32 4048 566 POTATOES (Milions of pounds) 0 16 24 32 40 56 64 POTATOES (Milions of pounds) Freedonia has a comparative advantage in the production of production of comparative advantage. After specialization, the two countri potatoes , while Sylvania has a comparative advantage in the in the production of the goods in which each has a million pounds of Suppose million...
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