Answered: What is the relationship of the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Brazil is able to produce 10 cars and 5 computers in one hour while India is able to produce 1 car and 4 computers in one hour. Brazil has a comparative advantage in producing and India has a comparative advantage in producing a. cars; cars b. computers; cars C. cars; computers d. computers; computers
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6. Use the information given here to answer the following questions: Manufacturing: Sales revenue PM QM = 150 Payments to labor=W-LM=100 Payments to capital=Rx K = 50 Agriculture: largsib e diw gairde vil Sales revenue = PA-QA = 150g to song orb og ands and Payments to labor=W.LA = 50 seogqu2.01 Payments to land=RT T=100 admul zboog own soub Holding the price of manufacturing constant, suppose the increase in the price of agriculture is 20% and the increase in the wage is 10%. a. Determine the impact of the increase in the price of agricul- ture on the rental on land and the rental on capital. bas ebens ni b. Explain what has happened to the real rental on land and the real rental on capital. rurgiël od zelimia dosts & al
Suppose that there are only two goods produced in the world: Chairs and Pencils. Chairs are the good traded in the world market. The following table shows information on the production and prices of Chairs and Pencils in two countries A and B. Assume that the population is 1. Quantity and Price (of Chair and Pencil in Countries A and B) Chairs produced Pencils produced Price of pencil. in local currency Country Price of Chair in local currency Per capita Per capita A 20 B 4 10 4 2 1)What is the market exchange rate between the currencies the two countries. 0.67 1.5 0.25 4 2)Calculate the ratio of GDP/capita in country A to GDP/capita in country B, using the PPP exchange rate. 3.87 0.11 0.17
Parts c and d please
Non-high-income countries are found in O a. In Asia, Western Europe, North America, and Africa O b. It can be found in all parts of the world O c. In Africa, South America, Asia, and Western Europe O d. In Africa, Asia, Eastern Europe, and Latin America O e. In Africa, Latin America, North America, Asia, and Europe
10
Goods Grapes Textiles Spain 8 4 Note: figures are hours of labor per unit of output France 15 5
If you can make $25,000 a year teaching, $20,000 a year writing computer programs, $30.000 a year deiving a cab, and $40.000 a year as an actor or actress. You have a comparative advantage in OA. one of them but we need more information to know which OB. writing computer programs. OC. teaching D. being an actor or actress
Trade as percentage of GDP is wrong

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What is the relationship of the following variables with trade? Explain a. distance b. Income