a) What is the output of beer per unit of labor in Austria? b) / What is the output of sausages per unit of labor in Germany? c) hi i Which country has a "comparative advantage" in which product? Calculate and explain briefly. d) production? Explain briefly. :) Which country has an absolute advantage in beer production and which country in sausage

a) What is the output of beer per unit of labor in Austria? b) / What is the output of sausages per unit of labor in Germany? c) hi i Which country has a "comparative advantage" in which product? Calculate and explain briefly. d) production? Explain briefly. :) Which country has an absolute advantage in beer production and which country in sausage

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

31.If it takes one country one unit of labor to produce either a computer or a TV but it takes the other country three units of labor to produce a computer and four to produce a TV, then the first country has A)a comparative advantage in both goods. B)an absolute advantage in TVs but a comparative advantage in computers. C)an absolute advantage in TVs and computers but a comparative advantage in computers only. D)an absolute advantage in TVs and computers but a comparative advantage in TVs only. 32.If it takes one country two units of labor to produce a computer and three units of labor to produce a TV but it takes the other country three units of labor to produce a computer and four to produce a TV, then the first country has A)a comparative advantage in both goods. B)an absolute advantage in TVs but a comparative advantage in computers. C)an absolute advantage in TVs and computers but a comparative advantage in computers only. D)an absolute advantage in TVs…
K Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two goods that each country can produce in one day are presented in the table below. United States Mexico Hamburgers (in tons) 0 40 80 120 Which country has an absolute advantage in producing tacos? Mexico Tacos (in tons) 108 72 36 0 Hamburgers (in tons) 0 8 16 24 Tacos (in tons) 60 40 20 Which country has a comparative advantage in producing tacos? The United States Suppose the United States is currently producing 80 tons of hamburgers and 36 tons of tacos and Mexico is currently producing 16 tons of hamburgers and 20 tons of tacos. If the United States and Mexico each specialize in producing only one good (the good for which each has a comparative advantage), then a total of additional ton(s) of hamburgers can be produced for the two countries combined (enter a numeric response using an integer) and a total of additional ton(s) of tacos can be produced.
Hero expert bro and pro Hand written solution is not allowed.
10)Suppose that in a three-hour block of time you can either make 2 batches of chocolate chip cookies or word-process 10 pages of text. In contrast, your roommate Keshawn can either make 4 batches of cookies or word-process 5 pages of text in a three-hour block of time. Which of the following is correct * a)Your comparative advantage is in making cookies. b)None of the above c)Keshawn's comparative advantage is in word-processing text. d)Your comparative advantage is in word-processing text.
7.) Who discovered the law of comparative advantage? a.) David Ricardo b.) Robert Torrents c.) David Autor d.) Robert Lucas 8.) Suppose that Bob can produce hamburgers and pasta and has 10 hours of time. Bob can make 10 hamburgers in 1 hour and 2 plates of pasta in one hour. What is Bob's opportunity cost of producing hamburgers? a.) 1/5 b.) 2/5 с.) 3/5 d.) 4/5
24. Assuming labor is the only resource and England has 60 man-hours (mhrs) and Portugal 180 mhrs of labor resource available for production, which country has the comparative advantage in cloth? a) Portugal b) England c) Both d) Neither e) Cannot tell
08. What are the relative prices (opportunity costs) of wine and cloth? a) wine costs 1/2 yard of cloth per bottle in England b) cloth costs 1/2 bottle of wine/yard in England c) cloth costs 4 man-hours/yard in Portugal d) cloth costs 2 bottles of wine/yard in Portugal e) wine costs 3 bottles of wine/yard in Portugal
Use the information in the table below to answer the following question: Which of the following is true? per unit of Labor: U.S Production Argentina 20 Whe at 300 Beef 100 20 a) The United States has an absolute advantage in the production of Wheat. O b) The United States does not have an absolute advantage in any commodity. c) Argentina has an absolute advantage in the production of Wheat. d) Argentina has an absolute advantage in the production of Beef.
1.23 If two countries have differing opportunity costs of production for two goods, then: a) each country should specialise in the good for which it has a higher opportunity cost of production. b) only the country with an absolute advantage in the production of both goods stands to gain from trade. c) each country should purchase inputs from the other country in order to gain an absolute advantage. d) each country should specialise in the production of the good for which it has a comparative advantage.
Course: Macroeconomics Suppose that the USA can make 15,000,000 cars or 20,000,000 bottles of wine with one year's worth of labor. France can make 10,000,000 cars or 18,000,000 bottles of wine with one year's worth of labor. From these numbers, we can conclude: Which country has the absolute advantage in producing cars? Which country has the absolute advantage in producing wine? Which country has the comparative advantage in producing cars? Which country has the comparative advantage in producing wine? (Show opportunity cost calculations.)
QUESTION 7 65+ 60+ 55 50 45 40 282828 35+ 30 25 20 15 10 5+ Cay China's PPF + 5 10 15 20 25 30 35 40 45 50 55 Computer OA. 40 cars and 20 computers B. 40 cars and zero computers C. 20 cars and 20 computers 个 Cor 65+ 60- 55 50+ 45+ Refer to figures above. Suppose that China and Japan fully specialize in the goods in which they have a comparative advantage. Trade is then initiated between the two countries and 20 units of cars are exchanged for 20 units of computers. How many units of cars and computers will China be able to consume after trade? D.40 cars and 40 computers 40- 35+ 30 25- 20 15 10- 5 Japan's PPF 5 10 15 20 25 30 35 40 45 50 55 60 Computer
Give very short answer but ASAP just answer 1st part and if possible answer the 2 and 3rd part in short