Concept Question 4.9 Question Help A country produces pears and barley. 1.) Using the 3-point curved line drawing tool, draw a representative PPC for this country. Label i PPC, 2.) Suppose that a breakthrough in technology makes all agriculture more productive. Using the 3-point curved line drawing tool, draw a new PPC showing the effect of this change. Label it PPC Caretuly folow the instructions above, and only draw the required objecta. 10 Pears (milions of bushels per year) Barley (milions of bushels per year)

Concept Question 4.9 Question Help A country produces pears and barley. 1.) Using the 3-point curved line drawing tool, draw a representative PPC for this country. Label i PPC, 2.) Suppose that a breakthrough in technology makes all agriculture more productive. Using the 3-point curved line drawing tool, draw a new PPC showing the effect of this change. Label it PPC Caretuly folow the instructions above, and only draw the required objecta. 10 Pears (milions of bushels per year) Barley (milions of bushels per year)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Figure 3-20 Canada's Production Possibilities Frontier Mexico's Production Possibilities Frontier ↑ Good Y 20 18+ 16 14 12 10 8 6- ↑ Good Y 20 18 16 14 12 10 8 6 4 2 246 8 10 12 14 16 18 Good X 2 4 6 8 10 12 14 16 18 20 ++ Good X Refer to Figure 3-20. If Canada and Mexico switch from each country dividing its time equally between the production of Good X and Good Y to each country spending all of its time producing the good in which it has a comparative advantage, then total production of Good Y will increase by ○ 6 units. 3 units. ○ 12 units. ○ 9 units.
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Context: In the absence of trade, assume Andy and Jack divide their time equally between the two activities. Then, Andy and Jack decide to trade with each other and specialize in the product in which they have a comparative advantage. You only need to explain with words how trade makes each person better off. Include graphs/tables/calculations in the explanation. Present answers with 4 decimals if needed. Note that Shoes & Gloves is in the x-axis, and Andy & Jack is in the y-axis. Production/hr Shoes Gloves Andy 96 62 Jack 74 38
Refer to Table 1-1 Which country has a comparative advantage in the production of bread? Group of answer choices Derryland Whetonia
OUTPUT OF TANKS Graph 2.1 B E OUTPUT OF AUTOMOBILES PPC2 PPC1 Bulgaria's production possibilities curve is displayed above. A movement of the production mix from point D to point F could be caused by: Select one: a. An decrease in the quantity of raw materials available. b. A shift of factors of production from one industry to another. c. A change in consumer preferences d. More labor
wine 90 80 70 60 50 40 30 20 10 0 0 10 20 30 40 50 60 cloth Portugal PPF CPF wine SERESSAD 90 Click Save and Submit to save and submit. Click Save All Answers to save all answers. 80 70 60 50 40- 30+ 20 O (a) Portugal has the absolute advantage and England has the comparative advantage Ⓒ (b) England has the absolute advantage and Portugal has the comparative advantage O (c) Neither country has the comparative advantage O (d) Neither country has the absolute advantage O (d) cannot tell from this diagram England PPF 10 0 0 10 20 30 40 50 60 cloth 12. If Portugal has a total of 180 man-hours of resources available for production, while England has only 60, which country has the absolute advantage, and which country has the comparative advantage in wine? CPF MacBook Air Save All A
QUESTION 7 65+ 60+ 55 50 45 40 282828 35+ 30 25 20 15 10 5+ Cay China's PPF + 5 10 15 20 25 30 35 40 45 50 55 Computer OA. 40 cars and 20 computers B. 40 cars and zero computers C. 20 cars and 20 computers 个 Cor 65+ 60- 55 50+ 45+ Refer to figures above. Suppose that China and Japan fully specialize in the goods in which they have a comparative advantage. Trade is then initiated between the two countries and 20 units of cars are exchanged for 20 units of computers. How many units of cars and computers will China be able to consume after trade? D.40 cars and 40 computers 40- 35+ 30 25- 20 15 10- 5 Japan's PPF 5 10 15 20 25 30 35 40 45 50 55 60 Computer
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1. Calculating opportunity cost using graphs (4 points) William David 2 Cakes 4 Cakes Given the two PPC's for William and David, calculate the opportunity cost of each good (pies and cakes). Use the space below each answer blank to type or write out your math showing how you calculated their opportunity costs. (No work, no credit. Be sure to reduce your fractions and don't leave any improper fractions.) ANSWER for William's opportunity cost of pies: ANSWER for William's opportunity cost of cakes: ANSWER for David's opportunity cost of pies: ANSWER for David's opportunity cost of cakes: O Pies
answer the questions using 3 step approach 6. Marla and Mirah are twin sisters living with their parents. Their father Erikson is trying to share house duties between the twobefore he leaves for vacation. Marla can use 6 hours to wash the clothes and 12 hours to cook. Mirah can take 3 hours to washand 9 hours to cook. Who should wash and who should cook. Explain 7. What happens to the domestic market when suppliers start to gain comparative advantage and export cars. Who enjoys the economic surplus and who lose their share of the surplus?
SUVs (millions per year) 5 4 3 2 A 2 B ו 3 5 6 Compact cars (millions per year) The figure above shows the production possibilities frontier for a country. In order for it to move from producing at point A to producing at point B, the country would need to: Select one: a. decrease compact car production by 3 million. O b. acquire more resources and/or more advanced technology. C. decrease SUV production by 4 million. d. decrease SUV production by 1 million.