I just need question number 1. And the choice "everyone in the country benefits" is not correct.
Homework Answers
1) the gains of winners exceed the losses of the losers- is correct
When the country becomes importer, world price is lower than domestic price which leads to increase in quantity demanded by consumers. This results in higher consumer surplus and lower producer surplus, but increase in consumer surplus is greater than loss in producer surplus.
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I just need question number 1. And the choice "everyone in the country benefits" is not correct. Question 1 1 p...
No need to explain in detail. I just want to check my answer. But please provide...
No need to explain in detail. I just want to check my answer.
But please provide me a formula.
1. The principle of comparative advantage asserts that a. not all countries can benefit from trade with other countries. b. the world price of a good will prevail in all countries, regardless of whether those countries allow international trade in that good. c. countries can become better off by exporting goods, but they cannot become better off by importing goods. d....
Argentina is a ‘small country’ in the world car market. A) Assume that world car price...
Argentina is a ‘small country’ in the world car market. A) Assume that world car price is below the price that prevails in India. Does Argentina gain by engaging in international trade in car? Does it export or import? Draw a diagram to show the gains (or losses) from trade. Who gains and who loses? b) Suppose that a technological advance increases the domestic supply of cars in Argentina. What effect does this advance have on the domestic price of...
7. Assume, for Vietnam, that the domestic price of textiles without international trade is lower than...
7. Assume, for Vietnam, that the domestic price of textiles without international trade is lower than the world price of textiles. This suggests that in the production of textiles, a. Vietnam has a comparative advantage over other countries and Vietnam will import textiles. b. Vietnam has a comparative advantage over other countries and Vietnam will export textiles. c. other countries have a comparative advantage over Vietnam and Vietnam will import textiles d. other countries have a comparative advantage over Vietnam...
Question 144 pts Dutch Disease is associated with a dramatic decline in the demand for a...
Question 144 pts Dutch Disease is associated with a dramatic decline in the demand for a primary commodity produced by a country. True False Flag this Question Question 154 pts The Heckscher-Olin model uses differences in factor abundance to determine whether any nation has a comparative advantage in any good. True False Flag this Question Question 164 pts According to the Ricardian model, the source of comparative advantage is: differences in the fields of research and development in a country....
Country Olivencia Gardenia Labor hours need to make one ton Spaghetti Lasagna 2 3 3 1...
Country Olivencia Gardenia Labor hours need to make one ton Spaghetti Lasagna 2 3 3 1 Using the table above, assume both countries have 1000 labor hours each. How many of each good can Gardenia produce if production focused on one good? 2000 units of spaghetti and 3000 units of lasagna O 333 units of spaghetti and 1000 units of lasagna O 3000 units of spaghetti and 1000 units of lasagna O 1000 units of spaghetti and 333 units of...
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...
(a) In which product does country H have the absolute advantage over country F? According to...
(a) In which product does country H have the absolute advantage
over country F? According
to Smith’s theory, which product should country H export? In
which product does
country H have the comparative advantage over country F?
According to Ricardo’s theory,
which product should country H export?
(b) Specify the production possibility curve (PPC) in country H.
Calculate the production
and consumption allocation of country H in the no-trade case.
Take fruits as the unit of account.
How much is...
Problem IV. Demand and supply curves for two large countries are given by figure 1. Answer...
Problem IV. Demand and supply curves for two large countries are given by figure 1. Answer the following 1. Consider the autarky situation. (a) Calculate CS, PS, GS, and TS for both countries (3 points) 2. Now, suppo countries open to trade (a) Which country imports and which exports? (0.5 point) (b) Derive import demand for importer and export supply for exporter. You can either drawe both curves with appropriate labeling and placing numbers or write equations. ( points) (e)...
1. Suppose country A can produce 30 units of Corn per time period (if it specializes...
1. Suppose country A can produce 30 units of Corn per time period (if it specializes in Corn). Country A can produce 4 outfits per time period (if it specializes in outfits). If country B specializes in Corn, it can produce 40 units per time period. If country B specialized in Outfits, it can produce 3 outfits per time period. A has a comparative advantage in Corn. B has a comparative advantage in Outfits. neither country has a comparative advantage....
ANSWER A, B, C, D & E. (a) In which product does country H have the...
ANSWER A, B, C, D & E.
(a) In which product does country H have the
absolute advantage over country F? According
to Smith’s theory, which product should country H export? In
which product does
country H have the comparative advantage over country F?
According to Ricardo’s theory,
which product should country H export?
(b) Specify the production possibility curve
(PPC) in country H. Calculate the production
and consumption allocation of country H in the no-trade case.
Take fruits as...
No need to explain in detail. I just want to check my answer.
But please provide me a formula.
1. The principle of comparative advantage asserts that a. not all countries can benefit from trade with other countries. b. the world price of a good will prevail in all countries, regardless of whether those countries allow international trade in that good. c. countries can become better off by exporting goods, but they cannot become better off by importing goods. d....
7. Assume, for Vietnam, that the domestic price of textiles without international trade is lower than the world price of textiles. This suggests that in the production of textiles, a. Vietnam has a comparative advantage over other countries and Vietnam will import textiles. b. Vietnam has a comparative advantage over other countries and Vietnam will export textiles. c. other countries have a comparative advantage over Vietnam and Vietnam will import textiles d. other countries have a comparative advantage over Vietnam...
Country Olivencia Gardenia Labor hours need to make one ton Spaghetti Lasagna 2 3 3 1 Using the table above, assume both countries have 1000 labor hours each. How many of each good can Gardenia produce if production focused on one good? 2000 units of spaghetti and 3000 units of lasagna O 333 units of spaghetti and 1000 units of lasagna O 3000 units of spaghetti and 1000 units of lasagna O 1000 units of spaghetti and 333 units of...
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...
(a) In which product does country H have the absolute advantage
over country F? According
to Smith’s theory, which product should country H export? In
which product does
country H have the comparative advantage over country F?
According to Ricardo’s theory,
which product should country H export?
(b) Specify the production possibility curve (PPC) in country H.
Calculate the production
and consumption allocation of country H in the no-trade case.
Take fruits as the unit of account.
How much is...
Problem IV. Demand and supply curves for two large countries are given by figure 1. Answer the following 1. Consider the autarky situation. (a) Calculate CS, PS, GS, and TS for both countries (3 points) 2. Now, suppo countries open to trade (a) Which country imports and which exports? (0.5 point) (b) Derive import demand for importer and export supply for exporter. You can either drawe both curves with appropriate labeling and placing numbers or write equations. ( points) (e)...
ANSWER A, B, C, D & E.
(a) In which product does country H have the
absolute advantage over country F? According
to Smith’s theory, which product should country H export? In
which product does
country H have the comparative advantage over country F?
According to Ricardo’s theory,
which product should country H export?
(b) Specify the production possibility curve
(PPC) in country H. Calculate the production
and consumption allocation of country H in the no-trade case.
Take fruits as...
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