Table 3-5 Canada Japan Hours needed to make one unit: Cars 40 50 Airplanes 160 150 Amount produced in 2400 hours: Cars Airplanes 60 48 Refer to Table 3-5. Which country has a comparative advantage in each product? 15 16 Select one: a Canada has a comparative advantage in airplanes, and Japan has a comparative advantage in neither good. Ob Canada has a comparative advantage in neither good, and Japan has a comparative advantage in cars. Oc Canada has a comparative advantage in airplanes, and Japan has a comparative advantage in cars. Od. Canada has a comparative advantage in cars, and Japan has a comparative advantage in airplanes.

Table 3-5 Canada Japan Hours needed to make one unit: Cars 40 50 Airplanes 160 150 Amount produced in 2400 hours: Cars Airplanes 60 48 Refer to Table 3-5. Which country has a comparative advantage in each product? 15 16 Select one: a Canada has a comparative advantage in airplanes, and Japan has a comparative advantage in neither good. Ob Canada has a comparative advantage in neither good, and Japan has a comparative advantage in cars. Oc Canada has a comparative advantage in airplanes, and Japan has a comparative advantage in cars. Od. Canada has a comparative advantage in cars, and Japan has a comparative advantage in airplanes.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Automobiles Computers USA 20 15 Germany 15 5 if both countries produce according to the respective comparative advantages, what…
The table below gives the number of cars, or of coal tons, that a typical worker in the given country can produce per week. (a) Which country, if either, has an absolute advantage? (b) What is the comparative advantage, if one exists, for each country? (c) Calculate potential gains from trade, if any exist. (d) What lesson do you draw this example about the gains from trade? Country Cars Coal tons Kazakhstan 6 6 Russia 3 3
Please answer fast please arjent help please ans ASAP please
Please asap answer
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…
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.
5. The price of trade Suppose that Poland and Wales both produce alive oil and shoes. Poland's opportunity cost of producing a pair of shoes is 5 crates of olive oil while Wales's opportunity cost of producing a pair of shoes is 11 crates of olive oil. By comparing the opportunity cost of producing shoes in the two countries, you can tell that Poland production of shoes and Wales has a comparative advantage in the production of olive oil. has a comparative advantage in the Suppose that Poland and Wales consider trading shoes and olive oil with each other. Poland can gain from specialization and trade as long as it receives more than 5 crates of olive oil for each pair of shoes it exports to Wales. Similarly, Wales can gain from trade as long as it receives more than 11 pairs of shoes for each crate of olive oil it exports to Poland. Based on your answer to the last question, which of the following prices of trade (that is, price of shoes in terms of olive oil) would allow both Wales…
Need help
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.
Question 28 The table shows the maximum quantity of cars or motorcycles that can be produced by two countries, X and Y, using equal amounts of resources. Motorcycles Cars 10 60 20 80 Based on the data in the table, which of the following is true? A B D Country X Country Y E Country X has a comparative advantage in producing cars. Country Y has a comparative advantage in producing cars. Country X has an absolute advantage in producing cars. Country X has an absolute advantage in producing motorcycles. Country Y has a comparative advantage in producing motorcycles.
Draw a domestic supply and demand diagram for a product in which the United States does not have a comparative advantage. What impact do foreign imports have on domestic price and quantity? On your diagram show a protective tariff that eliminates approximately one-half of the assumed imports. What are the price-quantity effects of this tariff on ( a) domestic consumers, (b) domestic producers, and (c) foreign exporters? How would the effects of a quota that creates the same amount of imports differ?
Refer to Table 19.1. Guatemala has Group of answer choices a comparative advantage in orange production. an absolute advantage in orange production. a comparative advantage in banana production. an absolute advantage in banana production.