Table 9-6 Denmark Belize O 250 O 150 Output per hour of work 00 Clocks 6 1 -100 Production and Consumption without Trade Hats 3 2 Clocks 900 150 Hats 150 100 Denmark and Belize can produce both clocks and hats. Each country has a total of 200 available labor hours for the production of clocks and hats. Table 9-6 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade. Production Refer to Table 9-6. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many hats will Belize gain compared to the "without trade" numbers? with Trade Clocks 1,200 0 Hats 0 400

Table 9-6 Denmark Belize O 250 O 150 Output per hour of work 00 Clocks 6 1 -100 Production and Consumption without Trade Hats 3 2 Clocks 900 150 Hats 150 100 Denmark and Belize can produce both clocks and hats. Each country has a total of 200 available labor hours for the production of clocks and hats. Table 9-6 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade. Production Refer to Table 9-6. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many hats will Belize gain compared to the "without trade" numbers? with Trade Clocks 1,200 0 Hats 0 400

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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