Question

write the question number next to its answer

Japan and India are countries that trade with each other. If Japan has a comparative advantage in televisions and India has a comparative advantage i clothing, which of the following is a correct statement about the effects of trade between these nations? O A. Japan will lose jobs in the television industry O B. Both countries are likely to be better off, and world production will increase. O C. There will be a net loss of employment in India. O D. Both countries will lose jobs through trade and be worse off. Click to select your answer. f+JapanJap.n+has+a+comparative+advantage+it +televisionstelevisions+and+IndiaIndi

Answer 1

Answer 2: correct statement about the effect of trade between these nations:

B. both countries are likely to be better off, and world production will increase.

Japan has comparative advantage in television so they will produce more television and will export it will increase jobs in television industries.

India has comparative advantage in clothing so it will produce more cloths and will export. It will increase jobs in clothing

So jobs will increase and both countries will be better off as they will import goods at lower prices in which their production cost is high

  

Answer 6: the production possibility curve shift outward when:

A. there is an increase in resources and technology

When production increase PPC shifts to outward and production increases when there is increase in resources or technology. When we have better production techniques we can produce more

Answer : 10:

if Meg specializes in cupcakes and Janis specializes in chocolate cakes, total production of cupcakes will be : 3 dozen cupcakes , and total production of chocolate cake will be 1 chocolate cake

  if Meg specializes in chocolate cakes and Janis specializes in cupcakes, total production of cupcakes will be : 5 dozen cupcakes , and total production of chocolate cake will be 2 chocolate cakes.

Thus Meg has a comparative advantage in chocolates cakes and Janis has comparative advantage in cupcakes

Answer: 20: most people choose to specialize in a narrow set of skills for their work, rather than to learn a little bit about several varied fields of endeavor because:

B. it allows them to earn more income by being more productive

Specialization in narrow set of skill for work increases productivity of workers