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Following table shows 20 ational thows the units of output a worker can produce per (1296)...
question 3 Ausg table shows the units of output a worker can produce per Australia and...
question 3
Ausg table shows the units of output a worker can produce per Australia and Korea. Use this table to answer the following questions. Electronics Food 20 8 Australia Korea 4 1.Th a. 5 units of a food b. 1/5 of a unit of food c. 4 units of a food d. 1/4 of a unit of food e opportunity cost of 1 unit of electronics in Australia is 2.The opportunity cost of 1 unit of electronics in Korea...
9.(4 points) In Mexico, a worker can produce 80 bushels of corn or 20 bags of...
9.(4 points) In Mexico, a worker can produce 80 bushels of corn or 20 bags of coffee. In Costa Rica, a worker can produce 10 bushels of corn or 60 bags of coffee. Coffee (bags) Country Mexico Corn (bushels) 80 or 20 Costa Rica 10 or 60 a. Who has the absolute advantage in the production of corn? b. Who has the absolute advantage in the production of coffee? c. Which country has a comparative advantage in producing corn? d....
Assume the table below shows the quantities of automobiles and computers that a worker can produce...
Assume the table below shows the quantities of automobiles and computers that a worker can produce in a day in the United States and Japan. Automobiles Computers 12 United States Japan 2 24 Suppose each country has 2,000 workers and consumes the following (per day) without trade from allocating 1,000 workers to automobile production and 1,000 workers to computer production: United States Japan Automobiles 4,000 2,000 Computers 12,000 24,000 If both countries specialize completely by producing only that for which...
Say that Aliceland can produce 32 units of food per person per year or 16 units...
Say that Aliceland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can produce 16 units of food per year or 8 units of clothing. Which of the following is true? a. Aliceland has a comparative advantage, but not absolute advantage, in producing food. b. aliceland has an absolute advantage, but not comparative advantage, in producing food. c. Georgeland has a comparative advantage, but not an absolute advantage,...
6 England and Scotland both produce scones and sweaters. Suppose that an English worker can produce...
6 England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 50 scones per hour or 1 sweater per hour. Suppose that a Scottish worker can 5. produce 40 scones per hour or 2 sweaters per hour. a. Which country has the absolute advantage in the production of each good? Which country has the comparative advantage? England? Explain. gain from trade? Would England still gain from trade? Explain. b. If England and Scotland decide to...
Question 02 i. The following table shows the number of units per 1-day of labour for...
Question 02 i. The following table shows the number of units per 1-day of labour for garments and mobile phones produced in China and Bangladesh. Mop Garments Mobile phones - China 10 units 4 units Ab.at 3 . - Bangladesh 15 units 5 units a. Calculate the autarky price ratios for both Bangladesh and China. .33 (02 marks) Compra (03 marks) c. Which country has comparative advantage in mobile phones? Which country has comparative in garments? Explain. (03 marks) d....
England and Scotland both produce scones and jumpers. Suppose that an English worker can produce 50...
England and Scotland both produce scones and jumpers. Suppose that an English worker can produce 50 scones per hour or one jumper per hour. Suppose that a Scottish worker can produce 40 scones per hour or two jumpers per hour. (a) Which country has the absolute advantage in the production of each good? Which country has the comparative advantage? (b) If England and Scotland decide to trade, which commodity will Scotland trade to England? Explain. (c) If a Scottish worker...
6. The following table shows how many hours it would take to produce one meter of...
6. The following table shows how many hours it would take to produce one meter of cloth or one kilogram of wheat for country A and country B._? Cloth wheat Country A 1 hour/per meter 3 hours/per kg Country B 2 hours / per meter 4 hours/per kg According to the absolute advantage theory, is there a basis for trade between country A and country B? Explain. Which country has the comparative advantage in wheat production? Explain your answer. Now...
Suppose that each worker in Belgium can produce either 20 units of food per hour or...
Suppose that each worker in Belgium can produce either 20 units of food per hour or 80 units of machinery per hour. At the same time, workers in France can produce either 15 units of food per hour or 30 units of machinery per hour. Choose a mutually advantageous world price ratio, if any exists, and explain why it improves the well-being of both trading parties. If none exists, explain why. Explain the consequences if the world price ratio was...
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...
question 3
Ausg table shows the units of output a worker can produce per Australia and Korea. Use this table to answer the following questions. Electronics Food 20 8 Australia Korea 4 1.Th a. 5 units of a food b. 1/5 of a unit of food c. 4 units of a food d. 1/4 of a unit of food e opportunity cost of 1 unit of electronics in Australia is 2.The opportunity cost of 1 unit of electronics in Korea...
9.(4 points) In Mexico, a worker can produce 80 bushels of corn or 20 bags of coffee. In Costa Rica, a worker can produce 10 bushels of corn or 60 bags of coffee. Coffee (bags) Country Mexico Corn (bushels) 80 or 20 Costa Rica 10 or 60 a. Who has the absolute advantage in the production of corn? b. Who has the absolute advantage in the production of coffee? c. Which country has a comparative advantage in producing corn? d....
Assume the table below shows the quantities of automobiles and computers that a worker can produce in a day in the United States and Japan. Automobiles Computers 12 United States Japan 2 24 Suppose each country has 2,000 workers and consumes the following (per day) without trade from allocating 1,000 workers to automobile production and 1,000 workers to computer production: United States Japan Automobiles 4,000 2,000 Computers 12,000 24,000 If both countries specialize completely by producing only that for which...
6 England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 50 scones per hour or 1 sweater per hour. Suppose that a Scottish worker can 5. produce 40 scones per hour or 2 sweaters per hour. a. Which country has the absolute advantage in the production of each good? Which country has the comparative advantage? England? Explain. gain from trade? Would England still gain from trade? Explain. b. If England and Scotland decide to...
Question 02 i. The following table shows the number of units per 1-day of labour for garments and mobile phones produced in China and Bangladesh. Mop Garments Mobile phones - China 10 units 4 units Ab.at 3 . - Bangladesh 15 units 5 units a. Calculate the autarky price ratios for both Bangladesh and China. .33 (02 marks) Compra (03 marks) c. Which country has comparative advantage in mobile phones? Which country has comparative in garments? Explain. (03 marks) d....
6. The following table shows how many hours it would take to produce one meter of cloth or one kilogram of wheat for country A and country B._? Cloth wheat Country A 1 hour/per meter 3 hours/per kg Country B 2 hours / per meter 4 hours/per kg According to the absolute advantage theory, is there a basis for trade between country A and country B? Explain. Which country has the comparative advantage in wheat production? Explain your answer. Now...
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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