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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 grain? Who has a comparative advantage in the production of cars? What is the opportunity cost for cars? Choose... Choose... Choose... Choose... Choose... ( O O 4

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 grain? Who has a comparative advantage in the production of cars? What is the opportunity cost for cars? Choose... Choose... Choose... Choose... Choose... ( O O 4

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Use the options provided to answer each question. Another option to the questions is "USA produces more than Japan using more resources".

2.5 cars for USA and 1.25 cars for Japan. Japan produce more than USA using more resources. USA produce more than Japan using same resources. Japan produce more than USA using less resources. Japan produce more than USA using same resources. Japan produce with lower opportunity cost. Neither USA or Japan. 0.4 grain for USA and 0.8 grain for Japan. 2.5 grain for USA and 1.25 grain for Japan. 0.4 cars for USA and 0.8 cars for O Japan. USA produce more than Japan I using less resources. O USA produce with lower opportunity cost. O O O O O O
Transcribed Image Text:2.5 cars for USA and 1.25 cars for Japan. Japan produce more than USA using more resources. USA produce more than Japan using same resources. Japan produce more than USA using less resources. Japan produce more than USA using same resources. Japan produce with lower opportunity cost. Neither USA or Japan. 0.4 grain for USA and 0.8 grain for Japan. 2.5 grain for USA and 1.25 grain for Japan. 0.4 cars for USA and 0.8 cars for O Japan. USA produce more than Japan I using less resources. O USA produce with lower opportunity cost. O O O O O O
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 grain? Who has a comparative advantage in the production of cars? What is the opportunity cost for cars? Choose... Choose... Choose... Choose... Choose... O O O 4
Transcribed Image Text: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 grain? Who has a comparative advantage in the production of cars? What is the opportunity cost for cars? Choose... Choose... Choose... Choose... Choose... O O O 4
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For the last question, can you explain why the answer states grain and not cars? was this an error?

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