1. The output per laborer per day in the production of steel and tin for Russia and China are given in the tablebelow.Output per Labor-DayRussiaChinaSteel10356Tina) What is the opportunity cost of producing Tin in Russia?b) What is the opportunity cost of producing Tin in China?c) Assume that Russia has 500 labor days available for producing Steel and/or Tin and that China has900 labor days available. Putting Steel on the vertical axis, draw the straight-line production possibilityfrontiers for both Russia and China.d) What is the slope of Russia's production possibility frontier, and what is the slope of China'sproduction possibility frontier?e) How is the slope of a production possibility frontier related to the opportunity cost of the good on thehorizontal axis? (See your answers to parts (a) and (b) of this question.2. Two nations have straight-line production possibility frontiers, but with different slopes. Explain ordemonstrate why complete specialization maximizes the gains from trade.COLO

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Answered: 1. The output per laborer per day in…

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter18: International Trade And Comparative Advantage

Section: Chapter Questions

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Only need help with questions from section D, E an de #2
Questions 1-8. Use the information in the following table on labor productivities (output per hour) in France and Germany to answer the following questions. Output per hour cheese Wine Labor Endowment O Cheese only O Wine only 1. Which good does France have an absolute advantage in? Both cheese and wine France 2 kg 2.5 bottle 100 hours ONeither cheese nor wine Germany 1 kg 5 bottles 100 hours
PRODUCT PER WORKER SOUTH AFRICA NIGERIA TABLES 100 UNITS 40 UNITS CHAIRS 50 UNITS 10 UNITS Calculate the opportunity costs of producing tables in South Africaand in Nigeria. Show your calculations. Which country has an absolute advantage in the production of tables?Justify your answer. Explain which product each of the countries should specialise in andexport. Use the information relating to comparative advantage tosupport your answer.
Below table shows the production possibilities for the country of Emilon:
3
can someone help with part G Case Study1. Assume that the continent of Mainland has only two countries, Alpha and Beta, which produce only two goods, corn, and peanut. Each country has 42 labor hours per week allocated to the production of corn or peanut. Producing a ton of corn costs 2.8 hours to Alpha and 1.4 hours to Beta. On the other side, each ton of peanut costs 1.68 hours to Alpha and 4.2 hours to Beta. Using the above case study, respond to the following Questions by showing all your work: a. Draw the production possibilities frontier of each country and provide its equation with peanuts on the x-axis. b. Assume that each country decides to use half of its resources in the production of each good. Show these points on the graphs for each country as point A. c. Can Alpha produce Beta produce 20 tons of corn and 15 tons of peanut each? Justify your answer. (Hint: Use the PPF equations.) d. If these countries choose not to trade, what would be the total world production of…
The table below shows the number of labor minutes it takes for each employee to produce one pizza and one salad. Compare all 3 employees to one another and determine which one of the following statements is true? Select one: a. Carter has a comparative advantage in making Salad b. Carter has an absolute advantage in both products c. Melanie has a comparative advantage in making Pizza d. Jackson has a comparative advantage in making Salad e. Melanie has a comparative advantage in making Salad f. Jackson has an absolute advantage in both products g. Carter has a comparative advantage in making Pizza
1. The countries France and Italy produce Perfumes and Leather Coats using only labor as an input. AvailableLabor for France and Italy is 3000 and 1000 respectively. Unit of labor per Leather Coat in France is 6 units and inItaly are 2 units. France needs 2 units of labors to produce 1 bottle of Perfume and Italy needs 4 unit of labor. a) Draw the Production Possibility Curve by using relevant information. b) Which country has the comparative advantage in producing Perfume?
The table below shows how many millions of cars and trucks each country can produce in one year. Based on the information, which of the following is true? Maximum Country Country outputs A B CARS 30 m 35 m TRUCKS 6 m 21 m Copyright: www.economicsonline.co.uk Country A has the comparative advantage in trucks Country B has the comparative advantage in cars Country A has the comparative advantage in cars Country A has the absolute advantage in cars
16.Assuming Portugal has 180 man-hours (mhrs) of labor resource available for production, and labor is the only resource, the per unit opportunity cost of wine in Portugal is ____ yards/bottle. (Please do NOT reduce fractions to decimals.)
20. Assuming England has 60 man-hours (mhrs) of labor resource available for production, and labor is the only resource, the per unit opportunity cost of wine in England is ____ yards/bottle. (Please do NOT reduce fractions to decimals.)
мсаз Austria can produce 1 unit of food using 12 hours of labour time and 1 unit of machinery using 4 hours. In Greece it takes 8 hours of labour time to produce 1 unit of food and 4 hours to produce 1 unit of machinery. These productivity conditions imply: A I do not want to answer this question. Austria has an absolute advantage in machinery production C Greece has an absolute advantage in machinery production Austria has a comparative advantage in machinery production E Neither country has a comparative advantage in machinery production F Greece has a comparative advantage in machinery production

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