Homework Answers
Sol:-
A) In Autarky,a nation can only achieve those points which lie on it's PPF curve or those points which lie inside it.
For Golikia,the points attainable are :
A and B
b) When both nations decides to trade,the new world ppf curve will cover the following grey points under the curve which will become attainabe now-
Points X,Y and Z
c) When both nations engage in trade and desire the sasme post trade consumption bundle then Golikia will export video game consoles as it has a lower opportunity cost in production of video game consoles.
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Please answer the problem bellow:
Visualizing the factor-endowment theory
Consider the two hypothetical nations of Greenburg and Ferville.
Suppose they both produce only two goods, robot vacuum cleaners and
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possibilities frontiers (PPF) for Greenburg and Ferville.
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These questions are about international trade.
I want to know the answers.
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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...
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other.
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Please answer the problem bellow:
Visualizing the factor-endowment theory
Consider the two hypothetical nations of Greenburg and Ferville.
Suppose they both produce only two goods, robot vacuum cleaners and
pogo sticks. Each country faces a trade-off when producing the two
goods. The following graph displays the respective production
possibilities frontiers (PPF) for Greenburg and Ferville.
Greenburg's PPF Terms of Trade POGO STICKS (Thousands) Ferville's PPF Xo 0 5 45 50 10 15 20 25 30 35 40 ROBOT VACUUM CLEANERS...
These questions are about international trade.
I want to know the answers.
5 Heckscher-Ohlin Model. Suppose the production of cloth is labour intensive and the production of food is land intensive and suppose the United States (US) is labour abundant and Canada is land abundant. (a) Show how the US production possibility frontier (PPF) differs from the Canadian PPF. Briefly explain. (Use the general version of the PPF's) (b) Which country will have the lower price of cloth Pc relative...
3. Heckscher-Ohlin theory. Assume there are two nations (1 and 2), two goods (X and Y), two factors of production (L and K). Commodity X is labor intensive, commodity Y is capital intensive. All assumptions are made following the standard H-O theory 3.1 Suppose nation 1 is L-abundant, and nation 2 is K-abundant. Please graph the production possibility frontiers of both nations. 3.2. What is the no-trade equilibrium in both nations? Please show on the graph and explain. 3.3. What...
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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...
14. Problems and Applications Q8 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. 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. 30 T 27 U.S PPF China PPF 15 12 U.S. without Trade China without Trade 0 10 20 30...
When a country specializes in the production of a good, this
means that it can produce this good at a lower opportunity cost
than its trading partner. Because of this comparative advantage,
both countries benefit when they specialize and trade with each
other.
The following graphs show the production possibilities frontiers
(PPFs) for Candonia and Lamponia. Both countries produce lemons and
tea, each initially (i.e., before specialization and trade)
producing 6 million pounds of lemons and 3 million pounds of...
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