Arturo's Production Possibilities Frontier Dina's Production Possibilities Frontier Touritos 500 450 400 350 300 250 200 150 100+ 50+ 50 100 150 200 250 300 350 400 Refer to Figure 3-14. Dina has an absolute advantage in the production of A. burritos and a comparative advantage in the production of burritos. B. neither good and a comparative advantage in the production of burritos. C. neither good and a comparative advantage in the production of tacos. D. burritos and a comparative advantage in the production of tacos. 20.005 个Burritos 500 4.50 + 400 350 300 250 200 150 100+ 50+ 50 100 150 200 250 300 350 400 tacos

Arturo's Production Possibilities Frontier Dina's Production Possibilities Frontier Touritos 500 450 400 350 300 250 200 150 100+ 50+ 50 100 150 200 250 300 350 400 Refer to Figure 3-14. Dina has an absolute advantage in the production of A. burritos and a comparative advantage in the production of burritos. B. neither good and a comparative advantage in the production of burritos. C. neither good and a comparative advantage in the production of tacos. D. burritos and a comparative advantage in the production of tacos. 20.005 个Burritos 500 4.50 + 400 350 300 250 200 150 100+ 50+ 50 100 150 200 250 300 350 400 tacos

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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from the image, can you help answer whether the trade action for Felicidad: jeans is import 18 or export 18, Felicidad: corn import 54 or export 54, and Contente: jeans import 18 or export 18 and Contente: corn import 54 or export 54.
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Suppose that France and Germany both produce wine and cheese. The table below shows combinations of the goods that each country can produce in a day. France Germany Wine (Bottles) Cheese (Pounds) 16 Wine (Bottles) Cheese (Pounds) 12 8. 4. 25 20 15 2 3 3 4 10 4 Who has the comparative advantage in producing wine and who has the comparative advantage in producing cheese? O A. France has a comparative advantage producing wine and Germany has a comparative advantage producing cheese. O B. France has a comparative advantage producing wine and cheese. OC. Germany has a comparative advantage producing wine and cheese. -OD. Neither has a comparative advantage producing wine or cheese. OE. France has a comparative advantage producing cheese and Germany has a comparative advantage producing wine. Suppose that France is currently producing 1 bottle of wine and 12 pounds of cheese and Germany is currently producing 3 bottles of wine and 10 pounds of cheese. Then, assume instead that France and…
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Figure 2-9 Snow cones 240 0 Greenland 200 Popsicles Snow cones 270 0 Iceland O 100 popsicles & 130 snow cones; 100 popsicles & 140 snow scones O 100 popsicles & 140 snow cones; 100 popsicles & 100 snow scones O 140 popsicles & 120 snow cones; 100 popsicles & 130 snow scones none of the above. 180 Popsicles Figure 2-9 shows the production possibilities frontiers for Greenland and Iceland. Each country produces two goods, snow cones and popsicles. With the opening of international trade, the agreed price between Iceland and Greenland for popsicles is 1.3. Assume that the country which now imports popsicles (with int'l trade) decides that it will import 100 units of popsicles. The new consumption bundles/points after international trade for Greenland and Iceland, respectively, are?
Figure 3-8 Chile's Production Possibilities Frontier 20 soybeans 18 16 14+ 12 10 8 6 4 2 (in pounds) 2 + 4 6 8 10 12 14 16 18 20 coffee pounds) (in 20 soybeans 18 5550 16 14+ 12 10 8 6 4 2 (in pounds) Colombia's Production Possibilities Frontier both goods and import neither good. neither good and import both goods. 2 4 6 8 10 12 14 16 18 20 coffee (in pounds, Refer to Figure 3-8. Chile should specialize in the production of coffee and import soybeans. soybeans and import coffee.
Perry's Production Possibilities Frontier Jordan's Production Possibilities Frontier ↑m 20- INOW 20- 10- 18. 16 16- 34 14- 12 124 T 1 Figure 3-15 Refer to Figure 3-15. If Perry and Jordan each spends all of his/her time producing the good in which she has a comparative advantage and trade takes place at a price of 1 movel for 7 poems, then Ⓒa. Perry and Jordan will both gain from this trade. O b. Perry will gain from this trade, but Jordan will not. Oc Jordan will gain from this trade, but Perry will not. Od neither Perry nor Jordan will gain from this trade.
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Refer to Table 19.1. Mexico has Group of answer choices a comparative advantage but not an absolute advantage in orange production. an absolute advantage and a comparative advantage in orange production. a comparative advantage but not an absolute advantage in banana production. an absolute advantage and a comparative advantage in banana production.
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QUESTION 9 If Pedro can produce more bread in one day than Roger can produce in one day, then а. Pedro has a comparative advantage in the production of bread. b. Roger has a comparative advantage in the production of bread. C. Pedro has an absolute advantage in the production of bread. d. Roger has an absolute advantage in the production of bread. a d. QUESTION 10 the equilibrium price decreases, and the equilibrium quantity increases the equilibrium price increases, and the effect of quantity is ambiguous the equilibrium price increases, and the equilibrium quantity increases the equilibrium price decreases, and the equilibrium quantity decreases If the demand of soccer balls increases, then a. b. C. d. O a O b O O O O
Food (Comparative Advantage) The consumption possibilities frontiers shown by the blue lines in the following exhibit assume terms of trade of 1 unit of clothing for 1 unit of food. What would the consumption possibilities frontiers look like if the terms of trade were 1 unit of clothing for 2 units of food? Production (and Consumption) Possibility Frontiers with Trade (Millions of Units Per Day) (a) United States (b) Izodia 600 500- 400 600 500 U 400 300 200 U 100 Food 300 200 100 13 0 100 200 300 400 Clothing 0 100 200 300 400 Clothing