The data in the table below are for the small country of Xanadu. Assume that the economy is originally producing combination C.FCapital GoodsCapital Goods 2Consumer GoodsA0125B10100C1475D1850E2025218a. A technological change occurs that enables Xanadu to produce 40% more units of capital goods. Complete the row Capital Goods2, in the table above, given this technological change. Enter your responses, both above and below, rounded to 1 decimal place.more capital goods as ab. Assuming the economy wants to continue with the same quantity of consumer goods, it can haveresult of the technological improvement.c. Assuming the economy wants to continue with the same quantity of capital goods, it can haveresult of the technological improvement.d. Before the technological change, the opportunity cost of the first 100 consumer goods wase. After the technological change, the opportunity cost of the first 100 consumer goods ismore consumer goods as a(Click to select):(Click to select)

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The table below shows the production possibilities for Canada and Japan. Suppose that, prior to specialization and trade, both Canada and Japan are producing combination C. Product DVD players Bushels of wheat Product DVD players Bushels of wheat DVD players 100 80 60 40 20 0 20 A Canada 40 60 A 20 0 A 40 0 Quantity of wheat per period 80 B 15 20 a) Draw the production possibilities curve for Canada in the graph A, and indicate its present output position. Draw the production possibilities curve for Japan in graph B, and indicate its present output position. Plot only the endpoints of each curve in the graphing areas using the appropriate tool. Plot the output combination in each graph using the Point tool. 100 B 30 7.5 CANADA'S PRODUCTION POSSIBILITIES C 10 40 JAPAN'S PRODUCTION POSSIBILITIES с 20 15 Tools PP Curve combination D 5 Trading Possi New combina 60 D 10 22.5 E 0 80 E 0 30
For each of the following scenarios, use the graphical depiction of the Malthusian model to illustrate what happens to a country’s population size and per-capita income in the short run and in the long run. a. Scientists discover a new strain of wheat that can produce twice as much grain per acre.   b. A war kills half of the population.   c. A volcanic eruption kills half the people and  destroys half the land.
Suppose that there are two products: clothing and soda. Both Brazil and the United States produce each product. Brazil can produce 100,000 units of clothing per year and 50,000 cans of soda. The United States can produce 65,000 units of clothing per year and 250,000 cans of soda. Assume that costs remain constant. For this example, assume that the production possibility frontier (PPF) is a straight line for each country because no other data points are available or provided. Include a PPF graph for each country in your paper. Complete the following: What would be the production possibility frontiers for Brazil and the United States? Without trade, the United States produces AND CONSUMES 32,500 units of clothing and 125,000 cans of soda. Without trade, Brazil produces AND CONSUMES 50,000 units of clothing and 25,000 cans of soda. Denote these points on each COUNTRY’s production possibility frontier. Suppose that there are two products: clothing and soda. Both…
Assume that quantities do not need to be integers. That is, it is feasible for Andreas to knit 37.25 pairs of mittens. It takes Andreas 3 hours to knit a pair of mittens and 6 hours to knit a scarf. Assuming efficient production, what is the opportunity cost, in terms of pairs of mittens, of Andreas choosing to knit one extra scarf? Enter a number (and only a number, no units) rounded to two decimal places. If your answer is 1.275, enter 1.28.
The table below shows the productivity level of each country for different goods in terms of how much output can be produced with an hour of labor. In the rightmost column, we have the total labor hours available in each country. Please answer the questions using the data provided in the table. labor (hours) 70 20 U.S. Mexico cotton/hr 70 40 shirt/hr 50 30 a) Describe the comparative advantage of each country. b) c) Plot the production possibilities curve for each country, under autarky. Describe the price range (cotton per shirt) that is acceptable for both countries to trade with each other.
Suppose two countries, France and Germany, use only capital and labor for production. Factor endowments of the nations are presented in the table below. Capital | Labor France 2200 800 Germany 880 220 a. Which country is labor-abundant? Which country is capital-abundant? b. Assume that both countries produce two goods, cars and wine. If cars are capital-intensive and wines are labor-intensive, which country should specialize in the production of cars? Which country should specialize in the production of wines? Explain why?
When a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its trading partner. Then the country will specialize in the production of this good and trade it for other goods. The following graphs show the production possibilities frontiers (PPFs) for Candonia and Sylvania. Both countries Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure. produce lemons and coffee, each initially (i.e., before specialization and trade) producing 18 million pounds of lemons and 9 million pounds of coffee, as indicated by the grey stars marked with the letter A. Candonia has a comparative advantage in the production of lemons, while Sylvania has a comparative advantage in the production of coffee. Suppose that Candonia and Sylvania specialize in the production of the goods in which each has a comparative…
a) Why is the PPF curve bowed outward. Is it due to increasing opportunity cost or decreasing opportunity cost or constant opportunity cost Type and answer using only one of the underlined words above b) What happens to the PPF curve during a recession? Will it shift inward or outward or remains constant Type and answer using only one of the underlined words above c) Suppose a technology is banned due to its adverse environmental impacts. Would the production possibilty curve shift inward or outward or remain constant due to this Type and answer using only one of the underlined words above d) How will a policy encouraging more immigration would shift the production possibility forntier. It will shift inward or outward or remain constant Type and answer using only one of the underlined words above
Assume that Sweden and Norway have the following set of production factors (see table below). Suppose further that for the production of one unit of steel it takes two machines and 8 workers and for one unit of bread it takes one machine and 8 workers. Sweden Norway Capital Labour 40 machines 10 machines 200 workers 60 workers a) Which commodity, bread or steel, is relatively capital-intensive and which is relatively labor-intensive? Show how to decide this. b) Which country will export bread and steel respectively? Why? Show how to determine this in a figure or with equations. c) Explain what happens to the return on capital and labor in Sweden and Norway after trade has begun between the countries.
Suppose the economy initially produces 15,000 gallons of drinking water and 400,000 tons of steel, which is represented by point A. The opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving production to point B ) is tons of steel. Suppose, instead, that the economy currently produces 336,000 tons of steel and 20,000 gallons of drinking water, which is represented by point B. Now the opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving to point C ) is tons of steel. Comparing your answers in the two previous paragraphs, you can see that the opportunity cost of 5,000 additional gallons of drinking water at point B is the opportunity
Suppose the fictional country of Biscayne produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for sorghum, an agricultural good, and electric scooters, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of electric scooters. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. ELECTRIC SCOOTERS (Thousands) 180 150 120 90 30 0 30 60 90 PPF 120 SORGHUM (Millions of bushels) 150 180 бо PPF ?
Now suppose federal, state, and local governments in the United States were engaged in a massive campaign to deal with AIDS, drug abuse, and other health-related problems. The increase in government medical spending would require a massive tax increase. Assuming that resources and technology are fixed, use a production-possibility curve to show the cost of increased government health services.

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