Analyze the following two countries with linear (constant opportunity cost) production functions. The production technology is given by the following unit labor requirements: United States Mexico (*) Hats 1 4 Shoes 3 The total labor endowment in each country is 40 hrs. (a) Graph the PPF's for the US and Mexico (put Shoes on the vertical axis). (b) Which country has an absolute advantage in which good? Explain. (c) Which country has a comparative advantage in which good? Explain.

Q: Why are other countries such as France and Finland have free tution

A: Many countries have taken a step ahead for providing free education to students at primary and…

Q: If Zambia is open to international trade in limes without any restrictions, it will import tons of…

A: Domestic demand may be defined as the total amount of the money That the government companies and…

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 gain to consumers from trade in Country A is $_______. 15. The net gain to the economy as a…

A: Gains from trade refer to the net benefits that accrue to individuals, businesses, or countries when…

Q: How Bangladeshi trade policy become updated. Briefly explain it. Must Write this in 1000 word. And…

A: Trade policy plays a vital role in shaping a country's economic landscape and determining its…

Q: How Bangladeshi trade policy become updated. Write this in 1500 word. And also please put the…

A: Trade Policy: Trade policy refers to a set of rule, regulations, and measures implemented by a…

Q: How important is International Trade for the country of Estonia??

A: Economists such as Adam Smith and David Ricardo understood the importance of international…

Q: For The Canadian Company Embridge choose a country that it exports to (do not chose the U.S.A.)…

A: The transnational exchange of goods and services is referred to as international trade. It is…

Q: If Alabama imports 10 bushels of peaches and exports 40 bushels of tomatoes, trade allows Alabama to…

A: The concept is based on comparative advantage trade. When we look at the graphs, we are able to…

Q: When you are doing business with a foreign country, you need to remember that A. things important to…

A: The answer is - A. Things important to you might not matter in other countries.

Q: how do trade agreements affect the US economy?

A: Trade agreements are defined as contractual agreements between states or countries concerning their…

Q: What happens to the welfare of foreign consumers? a. Lose L+M O b. Lose L+M+N+O+Q C. Gain L+M+N+O+Q…

A: An import tariff is levied on the value of imported goods by the government of the importing…

Q: as Canada benefited from NAFTA? If yes, how? Kindly support with references. 300 to 400 words

A: Answer is given below

Q: Do you think a country should have more imports or exports, and explain your reasoning

A: Importing refers to consumption of goods or services which are not produced within the domestic…

Q: what does it mean for a state to be sovereign?

A: A state or a country that has a defined territory and which administers its own government, the…

Q: How do international trade agreements help businesses in the U.S.

A: When two or more nations finalize and are on the same terms of trade, they determine the tariffs…

Q: Alexandra’s Production Possibilities Schedule Natalia’s Production Possibilities Schedule Number of…

A: A country or a person exports the good in which it has a comparative advantage.