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What is the relationship of the following variables with trade? Explain
a. distance
b. Income
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- 7:02 Computers Here There 100 50 a. What is the cost of 1 unit of cloth and a computer in Here? Round your answers below to 2 decimal places. 1 cloth = Cloth 50 90 1 cloth POST or or computers. 1 computer- b. What is the cost of 1 unit of cloth and a computer in There? Round your answers below to 2 decimal places. units of cloth. computers. units of cloth. 1 computer = c. In which product does each country have a comparative advantage? Here: (Click to select) There: (Click to select) ✓ d. What is the range of feasible terms of trade between the two countries? Round your answers below to 2 decimal places. Feasible terms of trade 1 unit of cloth 1 computer between between to to computers units of cloth. Next >The primary benefit that results when a nation employs its resources in accordance with the principle of comparative advantage is? a.an expansion in investment resulting from a reallocation of resources away from consumption. b.an increase in the profitability of business enterprises resulting from an increase in investment. c.greater equality of income resulting from an increase in the number of workers. d.a larger output resulting from a more efficient use of resources.15. If the U.S. were to stop trading with other nations, economists would predict that in the long run the U.S. would end up with: A. more jobs. B. lower prices. C. a higher standard of living. D. a lower standard of living. 16. The price of American goods have slowed and decreased in part to which of the following: A. Outsourcing. B. Increases in educational scoring. C. law of one price D. globalization and increased trade. 17. If Canadians wanted significantly more French products than usual, the: A. demand curve for the euro would shift right. B. demand curve for the euro would shift left. C. supply curve for the euro would shift right. D. supply curve for the euro would shift left. 18. EU product price levels have stayed the same over the last year while inflation in the US has increased. EU exports will : A. increase and EU. imports decrease, causing the demand for Euros to rise and the supply of Euros to fall. B. decrease and EU. imports increase, causing the demand for Euros to…
- If a country can produce more of a good than other countries with a given amount of resources, we say that country has the| [ Select ] and if a country has less to lose in producing a good than other countries do, we say that country has [ Select ]What is the trade balance between the U.S. and China from 2018 to 2020?Graph the year and trade balance (exports – imports) using year for horizontal axis and trade balance for vertical axis. What is the difference between absolute advantage and comparative advantage? Which among these 2 concepts is the basis of trade? Suppose that an American worker can produce 1000 shirts or 200 computers, while a Chinese worker can produce 1000 shirts or 100 computers.In the US, what is the opportunity cost of producing an additional shirt (measured in terms of foregone computers)?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
- Hours of work necessary to produce one unit of cloth or wine is shown in the following table: Cloth Wine England 100 120 Portugal 90 80 Who has the comparative advantage in cloth, and who in wine? England, Portugal Portugal, England England, England Portugal, PortugalIn Crabby land, there are only 3 goods: Burgers, Patties, and Pizza. The following table shows the prices and quantities produced of these goods in 1990, 2000, and 2010: Burgers Patties Pizza Price 2.00 7.00 0.70 1990 Quantity 500 300 300 Price 1.00 10.00 4.00 2000 Quantity 600 200 200 Price 1.10 10.50 0.75 2010 Quantity 690 110 420 a) A "market bundle" for a typical family is deemed to be 5 burgers, 3 patties, and 4 pizzas. Compute the consumer price index (CPI) for each of the three years, using 1990 as the base year. b) What was the rate of inflation from 1990 to 2000, using the CPI you calculated in (a)? c) Compute the CPI for each of the three years, using 2000 as the base year instead of 1990 but using the same "market bundle." d) What was the rate of inflation from 2000 to 2010, using the CPI you calculated in (c)? Is it the same as your answer to (b)? e) Now suppose that a new market bundle is defined; the "market bundle" is now 6 burgers, 2 patties, and 4 pizzas. Compute the…David and Morgan are farmers. Each one owns a 12-acre plot of land. The following table shows the amount of zucchini and watermelon each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing zucchini or watermelon or to produce zucchini on some of the land and watermelon on the rest. David Morgan WATERMELON (Pounds) 120 On the following graph, use the blue line (circle symbol) to plot David's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Morgan's PPF. 108 96 84 72 60 48 36 24 Zucchini (Pounds per acre) 6 12 8 Watermelon (Pounds per acre) 2 4 David's PPF Morgan's PPF ?
- Complete the table. Please note that the world price of T in terms of S is 1,5 and GDP calculated in terms of S.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 actressTrue or False: Comparative advantage refers to a country's ability to produce a good or service at a lower opportunity cost than another country. Don't use Ai
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