MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 12.1, Problem 2Q
To determine
Explain why Country ‘B’ uses more labor-intensive technique than Country US.
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Chapter 12 Solutions
MICROECONOMICS
Ch. 12.1 - Prob. 1QCh. 12.1 - Prob. 2QCh. 12.1 - Prob. 3QCh. 12.1 - Prob. 4QCh. 12.1 - Prob. 5QCh. 12.1 - Prob. 6QCh. 12.1 - Prob. 7QCh. 12.1 - Prob. 8QCh. 12.1 - Prob. 9QCh. 12.1 - Prob. 10Q
Ch. 12.A - Prob. 1QECh. 12.A - Prob. 2QECh. 12.A - Prob. 3QECh. 12.A - Prob. 4QECh. 12.A - Prob. 5QECh. 12.A - Prob. 6QECh. 12.A - Prob. 7QECh. 12 - Prob. 1QECh. 12 - Prob. 2QECh. 12 - Prob. 3QECh. 12 - Prob. 4QECh. 12 - Prob. 5QECh. 12 - Prob. 6QECh. 12 - Prob. 7QECh. 12 - Prob. 8QECh. 12 - Prob. 9QECh. 12 - Prob. 10QECh. 12 - Prob. 11QECh. 12 - Prob. 12QECh. 12 - Prob. 13QECh. 12 - Prob. 14QECh. 12 - Prob. 15QECh. 12 - Prob. 16QECh. 12 - Prob. 17QECh. 12 - Prob. 1QAPCh. 12 - Prob. 2QAPCh. 12 - Prob. 3QAPCh. 12 - Prob. 4QAPCh. 12 - Prob. 5QAPCh. 12 - Prob. 1IPCh. 12 - Prob. 2IPCh. 12 - Prob. 3IPCh. 12 - Prob. 4IPCh. 12 - Prob. 5IPCh. 12 - Prob. 6IP
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- "Accoring to Ricardo's analysis, a country exports any good whose production requires fewer labor hours per unit than the labor hours per unit needed to produce the good in the foreign country. That is, the country exports any good in which its labor producivity is higher than the labor productivity for this good in the foreign country." Do you agree or disagree? why?arrow_forwardwhat are the structural parts of division of labor in a world economy?arrow_forwardIs rapid industrial development a blessing or a curse for America?arrow_forward
- Why would U.S. companies consider moving production outside of our country?arrow_forwardDiscuss scale economies as they apply to trade.arrow_forwardEven though the size of the US labor force is nearly double that of Bangladesh, Bangladesh is characterized as a labor-abundant country. Explain why. Despite being labor-abundant, Bangladesh mainly exports ready-made garments (RMG), which many regard as capital-intensive. How would you explain this apparent paradox?arrow_forward
- Consider two countries, Spain and Russia and two goods, wine and vodka. Labour is the only factor of production. The per unit labour requirements for wine is 2 in Spain and 5 in Russia. Meanwhile the per unit labour requirements for vodka is 2 in each of the two countries. The wages in Spain are 50 % higher than the wages in Russia. What is the cost of producing wine in Spain relative to the cost of producing wine in Russia? What is the cost of producing vodka in Spain relative to the cost of producing vodka in Russia? In the absence of transport costs will there be trade? If yes, then who will specializein what? Illustrate your answer numerically. Now introduce transport costs: Exporting wine and vodka abroad increases the initial cost by 100 %. What happens to the trade between Spain and Russia? Illustrate your answer numerically.arrow_forward“The world’s poorest countries cannot find anything to export. There is no resource that is abundant—certainly not capital or land, and in small poor nations not even labor is abundant.” Discuss. At least two paragraphs.arrow_forwardAssuming that there are only two countries in the world, Indonesia and ROW (Rest of the World) which both produce Cloth (C) and Food (F) using labor as factor production. The following table shows the number of hours of work needed to produce one unit of C and F in both countries: Cloth (C) Food (F) Indonesia 1 hour per meter 2 hour per kg ROW 6 hour per meter 3 hour per kgarrow_forward
- As a student, what is multinational corporation to you? Are you interested in having businesses to other countriesarrow_forwardDo local entrepreneurs in the philippines can sustain and expand in the global markets? explain why.arrow_forwardcan you Describe the similarities and the differences between the French, English, and Spanish colonial experience with addition to what is contained within the Exploration and Discovery , and can make it two or three paragraphs (ten to fifteen lines in textbox)arrow_forward
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