Which country has an absolute advantage in the production of fruit? Which country has an absolute advantage in the production of timber? b. Which country has a comparative advantage in the production of fruit? of timber? c. Sketch the PPF’s for both countries.
Which country has an absolute advantage in the production of fruit? Which country has an absolute advantage in the production of timber? b. Which country has a comparative advantage in the production of fruit? of timber? c. Sketch the PPF’s for both countries.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 30P: In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10...
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. Which country has an
has an absolute advantage in the production of timber?
b. Which country has a
c. Sketch the
d. Assuming no trading between the two, if both countries wanted to have equal
numbers of feet of timber and baskets of fruit, how would they allocate workers to
the two sectors?
e. Show that specialization and trade can move both countries beyond their PPF’s.
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