A German worker takes 500 hours to produce a car and 5 hours to produce a case of wine. A French worker takes XX hours to produce a car and 4 hours to produce a case of wine. For what values of XX will gains from trade be possible? Check all that apply.   2   400   600   800     For what values of XX will Germany export cars and import wine? Check all that apply.   3   600   800

Q: i need to know the oppurtunity cost between USA and China for making Machines and Clothing. at 1,000…

A: USA 1,000 workers are used to produce 2750000 units of machines and 2000000 units of clothes.Unit…

Q: Given: In the US consumption of apples was Free Trade, consumption of apples was 6000, bananas-1500,…

A: Free trade refers to the exchange of goods and services without any interference by the government.…

Q: 4. Suppose a small country experiences economic growth that leads to an increased willingness to…

A: The economic growth elevates the economic well being and it enlarges the export and import.

Q: The table below describes production possibilities for Mexico and Nigeria. Each number in the table…

A: Mexico needs 10 workers to produce one unit of the shoe and 12 workers to produce one unit of Glass.…

Q: Time it takes to produce one car (hours) Time it takes to produce one Laptop (hours) Canada 3,500.00…

A: In oder to know which country will export which goods. Requires comparative advantage analysis.…

Q: I attached the graph to this question. 1. If trade is avoided, Spain consumes _____ wrenches…

A: The exchange of products and services between a buyer and a seller at a mutually agreed-upon price…

Q: Complete the following sentence. Quotas, as they relate to global trade, are:Choose one answer.a.…

A: Trade is the exchange of capital, factors, goods and services from one nation to other.

Q: The table below shows the production of beef (in pounds) and autos of ONE worker in Argentina and in…

A: Comparative advantage is when a country is able to produce a good at a lower opportunity cost…

Q: Refer to the figure regarding countries A and B. If each country allocated half of its labor force…

A: Production  Production refers to the process at which the goods and services are produced by the…

Q: The following hypothetical production possibilities tables are for China and the United States.…

A: Yes, the two area should specialize as the cost of apparel is less in China that United states. In…

Q: Predict what each of the following events would do to the terms of trade of the importing country…

A:

Q: What are the 3 main disadvantages and 3 advantages when a country specializes in trade.

A: Trade is a monetary action that is done in a market game plan. Trading straightforwardly suggests on…

Q: If the U.S. did not trade what price would the good cost? If the world price was $200 what quantity…

A: The price is set at a point where demand is equal to supply, in this case demand and supply are…

Q: Automobiles                 Computers…

A: According to the question, it is given that :   Automobiles Computers USA 20 15 Germany  15 5…

Q: A German worker takes 400 hours to produce a carand 2 hours to produce a case of wine. A…

A: a. Gains from trade are based on the comparative advantage, which is based on opportunity cost. To…

Q: What is the benefit of international trade.  Answer in reference to the U

A: The exchange of commodities and services across international borders is referred to as…

Q: Suppose the relative price of good A before trade is equal to one in the home country and two in the…

A: According to the question, the three is two countries home and foreign both have a different…

Q: 00 R Which producer would MOST likely be harmed from free trade? O domestic manufacturers that…

A: When the world price is below the domestic price, a country imports. When the world price is above…

Q: . Two areas, Europe and America, can produce only goods A and B, under constant costs as indicated…

A: Theory of comparative advantage helps in specialisation and promote free trade between countries on…

Q: If the United States produces 8 automobiles and Canada produces and Canada produces 2 automobiles,…

A: Comparative advantage is when the country possesses a lower Opportunity cost(OC) in producing a…

Q: In context of International Business and Trade the above example of US and Mexico focuses on…

A: Absolute advantage is when a country is able to produce a good or service more efficiently than…

Q: If the United States produces 8 automobiles and Canada produces 2 automobiles and the United States…

A: Opportunity cost is the cost that is foregone in order to make a choice.

Q: A German worker takes 600 hours to produce a car and 3 hours to produce a case of wine. A French…

A: Opportunity Cost: It is the cost of the next best alternative forgone for doing an…

Q: In reference to tariffs, What is the reason that U.S. imposes tariffs? why the U.S. imposes tariffs…

A: United States is an open economy due to which its makes an import and export of various products and…