An American worker can produce either 5 cars or 8 tons of grain a year. A Japanese worker can produce either 4 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers. Complete the following table with the number of workers needed to make one car or 1 ton of grain in the United States and Japan. Workers Needed to Make 1 Car 1 Ton of Grain United States Japan Use the blue line (circle symbol) to graph the production possibilities frontier for the American economy. Then use the green line (triangle symbol) to graph the production possibilities frontier for the Japanese economy. 500 450 U.S. 400 350 Japan 300

An American worker can produce either 5 cars or 8 tons of grain a year. A Japanese worker can produce either 4 cars or 9 tons of grain a year. To keep things simple, assume that each country has 100 million workers. Complete the following table with the number of workers needed to make one car or 1 ton of grain in the United States and Japan. Workers Needed to Make 1 Car 1 Ton of Grain United States Japan Use the blue line (circle symbol) to graph the production possibilities frontier for the American economy. Then use the green line (triangle symbol) to graph the production possibilities frontier for the Japanese economy. 500 450 U.S. 400 350 Japan 300

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Assume that Germany has 1200 units of labor available and it can produce two goods: apples and bananas. The unit labor requirement in apple production is 3, while in banana production it is 2. France has a labor force of 800. France’s unit labor requirement in apple production is 5, while in banana production it is 1. How many total units of apples and bananas will be produced in the world after trade?
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What is the difference in the total number of pencils made by both workers after specialization? What is the difference in the total number of pens made by both workers after specialization?
I've already read the answer provided on this site, but it is not giving me the information I need. I understand the math for finding the opportunity costs for each item in each country. However, where are they getting the answer that 2.5 tons of chemicals is what the US will give up, and 1 ton of apparel is what China will give up? From videos I've seen on youtube, they basically state that as long as the cost is less than what the original opportunity cost is, then nations will trade. So, it costs China 4 apparel for every 1 ton of chemicals, and in the US it costs 1 apparel for every 3 tons of chemicals. Am I right to assume that as long as China can trade less than 4 apparel it will benefit, and as long as the US can trade less than 3 tons of chemicals it will benefit? If so, then what is the math being used to arrive at exactly 1 ton of Chemicals for 1 ton of Apparel for China, and 1 apparel for 2.5 tons of Chemicals for the US? I need to understand the math that is used to…
Please no written by hand solution Two countries each produce two goods. Country 1 has 200 workers and Country 2 has 600 workers. If they do not trade, Country 1 produces 5 units of good 1 and 1 unit of good ECON 212 Microeconomics II Ayça Tekin-Koru HOMEWORK 1 PAGE 2 2, and Country 2 produces 10 units of good 1 and 10 units of good 2. The following table shows how many workers are necessary to produce each good: Country 1 Country 2 Workers per unit of good 1 20 20 Workers per unit of good 2 100 40 a) In the absence of trade, how many units of goods 1 and 2 can Country 2 produce? How many can Country 1 produce? b) Which country has a comparative advantage in producing good 1? In producing good 2? c) Draw the production possibility for each country and show where the two produce without trade. Put good 1 on vertical axis and good 2 on horizontal axis. d) Draw the production possibility frontier with trade. e) Show that both countries can benefit from trade.
Please examine the data describing unit labor requirements and labor productivity for two nations. These nations are only able to produce one of two items - ships and planes. Given this information, what is the value of the cell labeled B? Unit Labor Requirements Hours of labor required to produce one unit Inland Ships Planes 2 Harborton 4 1 0.5 Labor Productivity How many units can be produced in one hour Inland Harborton Ships A 0.25 Planes 1.0 B 2 units 1 unit 0.5 units O units
Suppose that there are two countries; Country 1 and Country 2. Country 1 is capital abundant and country 2 is labor abundant. X is capital intensive and Y is labor intensive. Assume that Country 1 is a large country and country 2 is a small country. Answer the following question: What happens to the terms of trade of Country 1, terms of trade of Country 2, welfare of country 1 and country 2 when Country 1’s capital stock increases?
The concept of _________ __________ was introduced by economist David Ricardo, and it posits that, because each state differs in its ability to produce specific products, each state should produce and export that which it can produce most efficiently and import goods that other states can produce more efficiently.
7:02 Computers Here There 100 50 a. What is the cost of 1 unit of cloth and a computer in Here? Round your answers below to 2 decimal places. 1 cloth = Cloth 50 90 1 cloth POST or or computers. 1 computer- b. What is the cost of 1 unit of cloth and a computer in There? Round your answers below to 2 decimal places. units of cloth. computers. units of cloth. 1 computer = c. In which product does each country have a comparative advantage? Here: (Click to select) There: (Click to select) ✓ d. What is the range of feasible terms of trade between the two countries? Round your answers below to 2 decimal places. Feasible terms of trade 1 unit of cloth 1 computer between between to to computers units of cloth. Next >
Suppose Malaydia's production possibilities include a maximum of 150 units of rice and 250 units of lumber, and Canada's production possibilities include a maximum of 300 units of rice or 160 units of lumber. Then suppose each country initially allocates 50% of it's labor to producing each product. a. Total produxtion by the 2 countries equal of rice and lumber? b. Now suppose Malaysia increases the labor it allocates to kumber by 10%. Its lumber production rise by and it's rice production falls by. C. If Canada reallocates it's labor to increase its rice production by exactly the amount that Malaydia's rice production fell, by how much must it's lumber production fall? d. State the combines effects on total production of the reallocations in part b and c. Total production of rice changes by Total production of lumber changes by ____.
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