9- Given that, the opportunity cost for producing 1 million kg of shrimps for island A is 1.5 million kg of papayas. While, the opportunity cost for producing 1 million kg of papayas for island B is 0.5 million kg of shrimps. The value of Y is: " O 10.5 O 3.5 O 21
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- 5. The price of trade Suppose that Hungary and Luxembourg both produce boots and wheat. Hungary's opportunity cost of producing a bushel of wheat is 5 pairs of boots while Luxembourg's opportunity cost of producing a bushel of wheat is 9 pairs of boots. By comparing the opportunity cost of producing wheat in the two countries, you can tell that production of wheat and has a comparative advantage in the production of boots. has a comparative advantage in the Suppose that Hungary and Luxembourg consider trading wheat and boots with each other. Hungary can gain from specialization and trade as long as it receives more than of boots for each bushel of wheat it exports to Luxembourg. Similarly, Luxembourg can gain from trade as long as it of wheat for each pair of boots it exports to Hungary. receives more than Based on your answer to the last question, which of the following prices of trade (that is, price of wheat in terms of boots) would allow both Luxembourg and Hungary to gain from…Approximately how many African Americans received commissions in the U.S. Army during the First World War? O 1) 10 O 2) 85 O 3) 335 O 4) 650 Listen During World War I, who served as a special assistant to the secretary of war, advising on matters related to African Americans? O 1) Booker T. Washington O 2) w. E. B. Du Bois 3) Emmett J. Scott O 4) Joel Spingarn5. The price of trade Suppose that Italy and Switzerland both produce jeans and stained glass. Italy's opportunity cost of producing a pane of stained glass is 3 pairs of jeans while Switzeriand's opportunity cost of producing a pane of stained glass is 9 pairs of jeans. By comparing the opportunity cost of producing stained glass in the two countries, you can tell that has a comparative advantage in the production of stained glass and has a comparative advantage in the production of jeans. Suppose that Italy and Switzerland consider trading stained glass and jeans with each other. Italy can gain from specialization and trade as long as it receives more than of jeans for each pane of stained glass it exports to Switzerland. Similarly, Switzerland can gain from trade as long of stained glass for each pair of jeans it exports to Italy. as it recelves more than Based on your answer to the last question, which of the tollowing prices of trade (that is, price of stained glass in terms of…
- (Table) Based on the table, what is Mexico's opportunity cost of making one airplane: Canada's Production Possibilities Tons of Steel Airplanes 15 10 4 0. 12 Mexico's Production Possibilities Tons of Steel Airplanes 6. 6. O A. 2 tons of steel. O B. 4 tons of steel O C. 2 airplanes. O D.1 airplane. O E. 1 ton of steel. 42TO 42Suppose that the opportunity cost ratio for apples and oranges is 1AE =30 in Germany but 10= 2A in Japan At which of the following international eschange ratios (terms of trade) with Gemany andJapan be willing to specialize and engage in trade with each otherO10=215AO 10= 1.25AO 10=0.25AO 10=0.15ANon-agricultural guest workers are generally allowed to bring their families to the United States. O a. True O b. False
- Suppose that Lo and Manuel can either run errands or wash dishes. Their maximum outputs per hour are listed in the following table. Assume that opportunity costs are constant. Errands Run Dishes Washed Lo 60 Manuel 40 (a) Who has absolute advantage in running errands? [ Select ] (b) Who has comparative advantage in washing dishes? [Select] [ Select ] Lo Manuel > >In Country A, the production of 1 bicycle requires using resources that could otherwise be used to produce 11 lamps. In Country B, the production of 1 bicycle requires using resources that could otherwise be used to produce 15 lamps. Which country has a comparative advantage in making bicycles? LO26.2 a. Country A. b. Country BSuppose there exist two imaginary countries, Yosemite and Sequoia. Their labor forces are each capable of supplying four million hours per day that can be used to produce pistachios, chinos, or some combination of the two. The following table shows the amount of pistachios or chinos that can be produced by one hour of labor. Country Yosemite Sequoia Pistachios (Pounds per hour of labor) 8 LO 5 Chinos (Pairs per hour of labor) 16 20
- Antonio and Caroline are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of alfalfa and barley each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing alfalfa or barley or to produce alfalfa on some of the land and barley on the rest. Alfalfa Barley (Bushels per acre) (Bushels per acre) Antonio 40 8 Caroline 28 7 ___________has an absolute advantage in the production of alfalfa, and __________ has an absolute advantage in the production of barley. Antonio's opportunity cost of producing 1 bushel of barley is ____ bushels of alfalfa, whereas Caroline's opportunity cost of producing 1 bushel of barley is______ bushels of alfalfa. Because Antonio has a ______ opportunity cost of producing barley than Caroline,________ has a comparative advantage in the production of barley and_______ has a comparative advantage in the production of alfalfa.21 公。 M * 00 LO The Mercantilists advocated balance of trade for each country engaged in trade. O True O False QUESTION 23 A nation is in disequilibrium if it consumes on the highest indifference curve possible given its production frontier. O True O False QUESTION 24 2 pof All groups in a country benefit from international trade in the short run. O True O False Save All Answers Save MAR 12 étv 280 006四 MacBook Air 08 F3 DD F 7 F1 F2 F 4 F5 F8 F11 & 23 2$ 4. 9. 6 E R. } P. S K. B. command command optionIn the production possibilities frontier depicted in the figure above, what is the opportunity cost of increasing the production of bananas from two million pounds to three million pounds? Use a production possibilities frontier to analyze opportunity costs and trade-offs. Hats (millions per year) 5 4 3 2 1 0 1 2 3 4 5 6 Bananas (millions of pounds per year) O 1/2 million hats 1 million hats O 2 million hats O 3 million hats