Section II Diagrams and 1. Draw a PPC diagram, show one unattainable and one inefficient production combination of a firm that produces volleyball and basketball can choose. [3 marks] thto non do W. Dloz prow
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![Section II Diagrams and
1. Draw a PPC diagram, show one unattainable and one inefficient production
combination of a firm that produces volleyball and basketball can choose. [3
marks]
thto non do W. Dloz prow](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8ad95243-8454-4066-9331-76c3c21a8d7e%2Fd1e62e61-ead7-43da-98b5-32293caa6a2b%2F151tux_processed.jpeg&w=3840&q=75)
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- 2. Let assume China is the domestic country and the USA is the foreign country. An iPod is cost ¥612 in China and＄100 in USA(12'). (c) If the price in USA is increasing to＄102, calculate the absolute PPP in China. (d) (4) If the price of iPod in China and USA are both increasing to ¥650 and＄102 respectively, Calculate the relative PPP in China (please specify the steps and accurate to the fourth decimal place).7. Explain the “Absolute” and “Comparative Advantage” Trade Theories using suitable examples. Medium answerWhich of the following is true about BRIC countries: a. There is low prospects of growth O b. To attain raw materials you will outsource to Bangladesh O c. There is low investment O d. There are high growth rates which may not be seen in North America Google is pursuing a global brand web strategy and must be mindful of the cultural and language differences across countries. Select one: O True O False occurs when a company exports to a foreign market at a price that is either lower than the domestic prices in that country or less than the cost of production.
- Price ($ 45 42 39 36 33 30 27 24 21 18 15 12 9 6 75 World Price Manly Oland sty Land 7 8 9 10 10 Quantity in thousands) The graph above demonstrates the domestic demand and supply for a good as well as the world price for that good if this economy were to go from autarky to free trade which of the following statements is true? Total surplus will increase by $42.000 Il Domestic consumers will purchase 2.000 und The country will expert 7.000 unCourse dterm 1 2.Q 2 The following table describes the production possibilities of two cities: Red Sweaters per Worker per Hour White Sweaters per Worker per Hour Montreal 3. 3 Toronto 2 1. Without trade, the price of a white sweater (in terms of red sweaters) in Montreal is 1 v of red sweaters, and in Toronto it is 1 v of red sweaters. Montreal ▼ has an absolute advantage in the production of red sweaters, and Montreal ▼ has an absolute advantage in the production of white sweaters. Toronto has a comparative advantage in the production of red sweaters, and Montreal v has a comparative advantage in the production of white sweaters. sweaters. v sweaters, and Montreal will export white If the cities trade with each other, Toronto will export red The price of white sweaters can be expressed in terms of red sweaters. The highest price at which white sweaters can be traded that would make both - red sweaters per white sweater, and the lowest price that makes both cities better off is v red…I WANT C AND D. is assumed that there exist two goods x and Z.P and PPF represent production PF possibility frontier of domestic and foreign countries. According to the below figure, please answer the following question. (a) Before international trade, please explain the choice for individual country. (b) After international trade, please explain which goods each will specialize in. (c) Please derive the relative supply of X goods in terms of Z. (d** Bonus) If there exist an unlimited numbers of counterparts in the world, what does the relative supply of X goods look like? ( please simply explain the reason)country 2. It is assumed that there exist two goods X and Z. PPFH and PPFF represent production possibility frontier of domestic and foreign countries. According to the below figure, please answer the following question. Z PPFH PPFF X (a) Before international trade, please explain the choice for individual country. (b) After international trade, please explain which goods each…
- Imagine you have access to a technology that allows you to instantaneously travel toa McDonald’s in any country in the world. For each of the scenarios below, answerwhether it makes you more or less likely to buy a Big Mac in the United States.5(a) Brazil places tariffs on US products, limiting imports from America.(b) The US becomes a much riskier place to invest because of widespread politicalunrest.(c) Firms in the UK become much more profitable than those in the US.(d) The global economy surges, sparking higher consumption everywhere in the world.(e) Japan’s central bank cuts interest rates in that country.(f) Mexico’s firms do a much better job of marketing their products to the UnitedStates.Useboth General Equilibrium and Partial Equilibrium analyses toexplain the effects of a tariff in a small country case taking intoconsideration the seven effects of tariff. Also, illustrate youranswer graphically.5. Figure 1 shows the PPF between Caps (C) and scarves (S). Assume that Caps sell for $8 and scarves sell for $5. The maximum revenue that you can earn is you will produce and caps. Show your work on the figure and scarves Scarves 90 80 70 60 50 40 30 20 10 O Figure 1 5 10 15 20 25 30 35 40 45 50 55 60 Caps
- (dollars/16) 8=Ps 5-P₁ 4 = P₁₂ 0.1= Pat a b 9 U.S. beef market h Q₁ 113 Q₂ G₂ 120 125 (dollars/16) Q (thousand tons) 10-P₂ 7=P₂ 5-R 2-P k 2 0 P Japan beef market S /min Que Q5 74 76 r (26 86 (thousand tons Refer to the above partial equilibrium model of trade (large country case). Assume the world price is $5 when reaching free-trade equilibrium. When Japan freely trades with U.S., what is their import amount? (Answer format: only a number is needed, please don't type in anything else.)950 850 - 700 400 100 200 300 400 The figure above illustrates Mary's PPF. Which of the following statement is FALSE? Select one: a. Opportunity cost of moving from B to C is greater than the opportunity cost of moving from D to E O b. Productive efficiency is represented by point Bon the PPF. O c. Point Z can be in a new PPF if technology improves. O d. Productive inefficiency is represented by point W in the PPF.QUESTION 9 wine 90 80 70 60 50 40 30 20 10 0 0 10 England d) 2 bottles of wine/yard O e) 3 bottles of wine/yard PPF 20 30 40 50 09. What is the relative price (opportunity cost of one yard) of cloth in Portugal? O a) 1/3 bottles of wine/yard O b) 1/2 bottle of wine/yard O c) 4 man-hours/yard 60 cloth wine 90 80 70 60 50 40 30 20 10 0 0 10 Portugal PPF 20 30 40 50 60 cloth
