Automobiles                 Computers                                                                                                                                                                                                                                                                                    USA                                  20                                 15                                                                                                                                                                                   Germany                           15                                    5                                                                                                                                                                                                                                                                                       if both countries produce according to the respective comparative advantages, what goods will the Us and Germany end up producing after specialization?

Q: For international trade, discuss your America’s absolute advantage, comparative advantage, and…

A: International trade (IT) refers to the exchange of goods, commodities, and services between nations.…

Q: What is globalization? What is Protectionism? What are the benefits of trade?

A: Globalization is the widespread of products, technology, information, and employment across nations.…

Q: The table below describes production possibilities for Mexico and Nigeria. Each number in the table…

A: Mexico needs 10 workers to produce one unit of the shoe and 12 workers to produce one unit of Glass.…

Q: Suppose that Ireland and Luxembourg both produce boots and broccoli. Ireland's opportunity cost of…

A: The opportunity cost helps to determine the comparative advantage for an economy; thus with a…

Q: Using the following data, decide which country has comparative advantage for which good:   good x…

A: Theory of comparative advantage was given by David Ricardo. According to David Ricardo gains from…

Q: Write an essay related to this treatise: NAFTA (North American Free Trade Agreement): In the…

A: The concept of comparative advantage was first developed by David Ricardo in the early 1800s. It is…

Q: Currently, Tomczakistan is closed to international trade and producing at the grey point (star…

A: Production possibility frontier shows different combination of two good or services that can be…

Q: can import tariffs and quotas reduce the benefits of trade in regards to absolute and comparative…

A: Answer: Introduction: Absolute advantage refers to the production of goods using fewer resources…

Q: If the country specialize in and agreed to trade 100 car parts for 100 aircraft parts, show on the…

A: Given PPF,

Q: True or false? Free trade causes job losses in industries in which a country does not have a…

A: International trade: - it means the buying and selling of goods and services with other countries.

Q: What is the concept of comparative advantage in international trade? A. A country's ability to…

A: Comparative advantage is a principal idea in the international trade hypothesis, presented by David…

Q: radios radios 50 + 125 + 40 + 100 + 30 75 20 50 + 10 + 25 10 20 30 40 s0 coolers 25 s0 75 100 125…

A: A country is said to have comparative advantage in a good if the country has lower opportunity costs…

Q: Use the theory of comparative advantage to explain how international trade between two countries…

A: International trade takes place when countries across the globe engage with each other and exchange…

Q: Alpha can produce either 18 oranges or 9 apples an hour, while Beta can produce either 16 oranges or…

A: When people or countries engaging in trade processes do not always have an absolute edge but can…

Q: What are the differences between the two trade theories i.e., comparative advantage and absolute…

A: Global trade has always been an important component of human civilization, and trading concepts have…

Q: Corn 60 O 60 80 O 120 United States 20 60 Peanuts Corn Using the graph above, if Canada has a…

A: Comparative advantage is the ability of an individual, organization, or nation to produce a certain…

Q: Relative to China, in which industries do you think the US has a comparative advantage (in which…

A: US is a developed and one of the most developed economy in the world.

Q: What are the gains from trade, and explain why countires might still decide to trade even if no…

A: The gains from trade are the gains from trading instead of producing i.e. the advantages that accrue…

Q: Consider a hypothetical world with two countries: Country A and Country B. Both countries produce…

A: The objective of this question is to determine the range of quantity of computers that can be…

Q: What are the gains from trade, and explain why countires might still decide to trade even if no…

A: Comparative Advantage: This is a concept in economics that refers to the ability of a country or…

Q: Trade

A: Comparative advantage refers to a situation in which a country has more specialization in one good…

Q: If a country produces more food and electronics than another country does it have a comparative…

A: Theory of comparative advantage was given by David Ricardo. According to David Ricardo gains from…

Q: Refer to the figure regarding countries A and B. If each country allocated half of its labor force…

A: Production  Production refers to the process at which the goods and services are produced by the…

Q: Suppose that each country completely specializes in the production of the good in which it has a…

A: In economics, the value of what you must give up in order to choose something else is referred to as…