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- Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40 pounds of beef or 30 autos. Which country has the absolute advantage in beef? Which country has the absolute advantage in producing autos? What is the opportunity cost of producing one pound of beef In Brazil? What is the opportunity cost of producing one pound of beef in the United States?In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10 tons of rubber or 40 radios. Who has the absolute advantage in the production of rubber or radios? How can you tell? Calculate the opportunity cost of producing 80 additional radios in Japan and in Malaysia. (Your calculation may involve fractions, which is fine,) Which country has a comparative advantage in the production of radios? Calculate the opportunity cost of producing 10 additional tons of rubber in Japan and in Malaysia. Which country has a comparative advantage in producing rubber? In this example, does each country have an absolute advantage and a comparative advantage in the same good? In what product should Japan specialize? In what product should Malaysia specialize?In Germany it takes three workers to make one television and four workers to make one video camera. In Poland It takes six workers to make one television and 12 workers to make one video camera. Who has the absolute advantage in the production of televisions? Who has the absolute advantage in the production of video cameras? How can you tell? Calculate the opportunity cost of producing one additional television set in Germany and In Poland. (Your calculation may involve fractions, which Is tine.) Which country has a comparative advantage in the production of televisions? Calculate the opportunity cost of producing one video camera in Germany and in Poland. Which country has a comparative advantage in the production of video cameras? In this example, is absolute advantage the same as comparative advantage, or not? In what product should Germany specialize? In what product should Poland specialize?
- Home has a comparative advantage in wheat, and Foreign has a comparative advantage in cloth. Once trade occurs, Home produces 1,500 bushels of wheat, and Foreign produces 1,000 yards of cloth. The following table shows the amount of wheat that Home is willing to trade to acquire more cloth. the international price of cloth is 1.5 bushels of wheat per yard, how many bushels of wheat will Home export to Foreign? Select one: a. 550 bushels b. 800 bushels c. 1,050 bushels d. 700 bushelsThe only two countries in the world, Alpha and Omega, face the following production possibilities frontiers. Assume that each country decides to use half of its resources in the production of each good. Show these point If these countries choose not to trade, what would be the total world production of popcorn and peanuts? Now suppose that each country decides to specialize in the good in which each has a comparative advantage. By specializing, what is the total world production of each product now? If each country decides to trade 100 units of popcorn for 100 units of peanuts, show on the graphs the gain each country would receive from trade. Label these points B.Country A can produce 20 units of wheat or 10 units of corn, while Country B can produce 15 units of wheat or 5 units of corn. Which country has the comparative advantage in producing wheat?
- In Country T, it takes 10 resources to produce 1 ton of cocoa and 13.5 resources to produce 1 ton of rice. In Country Y, it takes 40 resources to produce 1 ton of cocoa and 20 resources to produce 1 ton of rice. Country T has a comparative advantage over Country Y in cocoa. This follows the theory of comparative advantage, and we can say that engaging in free trade benefits all countries that participate in it; however, this conclusion stems from which of these inaccurate assumptions? Multiple Choice We have assumed constant returns to scale. We have assumed the prices of resources and exchange rates in the two countries are dynamic. We have assumed there are barriers to the movement of resources from the production of one good to another within the same country. We have assumed that agrarian nations do not specialize in producing particular products. We have assumed diminishing returns to specialization.What is the opportunity cost of a pair of shoes in Mexico? What is the opportunity cost of a pair of shoes in Nicaragua ? Which country has a comparative advantage in the production of shoes? Which country has a comparative advantage in the production of clothing? In this example, the country of Mexico should export ----------and import ----------------.Y 100 Country A X Y 40 Country B 40 X 20 a) How much of Good Y will Country B produce if they specialize in their comparative advantage? 40 b) By themselves, if Country B produces 18 units of Y, what is the maximum amount they could produce of Good X? 18 c) If the terms of trade proposed are 5 X for 10Y, how much will Country B be able to consume of Good Y after trade if they specialize in their comparative advantage before trading? 40
- Assume that country A can use its resources to produce 320 computers or 320,000 books, while country B can produce 16 computers or 32,000 books. Can we determine which country has an absolute advantage in producing computers? Who has the comparative advantage in producing computers? Draw the possibility frontiers for both countries and find their slopes. In the case the two countries trade, which country exports what? Show graphically if country A benefits from trade.its already answered in this site so you can just just send me by copying it A) With the following data decide which country has comparative advantage for which good. Show your math. Good X Good Y Country A 75 75 Country B 60 70 B) Using the data above prove both countries can be better off trading with each other than if they do not trade. C)Why do we use comparative advantage to decide which country produces which good? Support your answer.American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, whereas a Japanese worker can produce 5 tons of grain a year. Each country has 100 million workers. Who has the absolute advantage in the production of cars? Who has the absolute advantage in the production of grains? Who has a comparative advantage in the production of cars? Who has a comparative advantage in the production of cars? What is the opportunity cost for cars ?
