Week02_Assignment_Angelini

Please fill in the blanks AND graph the new production line thank you

Parts c and d in the attached image please

Typed plaza Asap

Parts a and b in the attached image please

© Macmillan Learning Production, Economic Growth, and Trade. - End of Chapter Problem Ice cubes are an enjoyable product that many take for granted since they are easily produced in a freezer. But prior to the invention of refrigeration in the late 19th century, obtaining ice in warm climates required it to be imported from cold environments, making it an expensive luxury item. The new technology of refrigeration increased allocative efficiency neither production nor allocative efficiency production efficiency both production and allocative efficiency in the economy.

and Applications Q3 Caroline and Frances are roommates. They spend most of their time studying (of course), but they leave some time for their favorite activities: making pizza and brewing root beer, Caroline takes 3 hours to brew a gallon of root beer and 2 hours to make a pizza. Frances takes 7 hours to brew a gallon of root beer and 5 hours to make a pizza. Caroline's opportunity cost of making a pizza is of root beer. has an absolute advantage in making pizza, and If Caroline and Frances trade foods with each other, of root beer, and Frances's opportunity cost of making a pizza has a comparative advantage in making pizza. will trade pizza in exchange for root beer. The price of pizza can be expressed in terms of gallons of root beer. The highest price at which pizza can be traded that would make both roommates of root beer per pizza. better off is of root beer, and the lowest price that makes both roommates better off is

1. Analyze the following two countries with linear production technologies and one factor of production. The production technology is given by the following labor requirements: Hot Dogs (labor per unit) Maple Syrup (labor per gallon) USA Canada 1 3 2 1 Each country has 600 hours of labor. a. Which country has the absolute advantage in producing hot dogs? Explain. b. What is the opportunity cost of hot dogs in the US? In Canada? c. Which country has a comparative advantage in each good? Explain. d. What is the range of prices for each good under which both countries will gain from trade? Explain. e. Suppose that the world price of a unit of hot dogs is 1 gallon of maple syrup. Draw a large, clear new graph for each country (put hot dogs on the X axis) showing the autarky equilibrium and the free trade equilibrium (including the trade triangle showing the levels of imports and exports). f. Who gains from free trade in this model? Briefly explain why or why not.

3 ☐ Mark for Review APC In the country Beta it takes two hours of labor to produce a unit of tea and four hours of labor to produce a unit of bread. In the country Zeta it takes three hours of labor to produce a unit of tea and nine hours of labor to produce a unit of bread. Which of the following is true? Country Zeta has an absolute advantage in producing both tea and bread. B Country Zeta has an absolute advantage and a comparative advantage in producing tea. D E Country Beta has an absolute advantage and a comparative advantage in producing tea. Country Beta has the lower opportunity cost in producing bread and therefore a comparative advantage in producing bread. Country Beta, with trade, will export both tea and bread to country Zeta.

INTERNATIONAL TRADE  1.Graph the production possibility frontier. What will happen if more labor is employed?

Bob and Cho are farmers. Each one owns a 20-acre plot of land. The following table shows the amount of corn and rye each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing corn or rye or to produce corn on some of the land and rye on the rest. Corn Rye (Bushels per acre) (Bushels per acre) Bob 10 5 Cho 40 8 On the following graph, use the blue line (circle symbol) to plot Bob's production possibilities frontier (PPF), and use the purple line (diamond symbol) to plot Cho's PPF. 200 Bob's PPF 180 160 F3 0+ F4 H r F5 M F7 1 F8 # F9 CI F10

1.Suppose we have the following information about the productivity of industry in Japan and Korea. The data are the units of output per hour of work.                        Steel            Televisions Japan                   6                      3 Korea                   8                      2 A Japanese worker can produce 6 units of steel or 3 televisions per hour. A Korean worker can produce 8 units of steel or 2 televisions per hour. Plot the production possibilities frontier for each country, assuming each country has only one worker and the worker works only one hour. To plot the frontier, plot the end points and connect them with a line. For example, Japan can produce 6 units of steel with its worker or 3 televisions. It can also allocate 1/2 hour to the production of each and get 3 units of steel and 1 1/2 televisions.   What are the opportunity cost of a television in Japan and Korea? What are the opportunity cost of steel in Japan and Korea? Which country has a…

Table 3-3 Assume that Aruba and Iceland can switch between producing coolers and producing radios at a constant rate. Aruba Iceland Labor Hours Needed to Make 1 Radio 5 4 Cooler 2 1 Refer to Table 3-3. Assume that Aruba and Iceland each has 80 labor hours available. If each country divides its time equally between the production of coolers and radios, then total production is 60 coolers and 80 radios. 18 coolers and 40 radios. 18 coolers and 60 radios. 60 coolers and 18 radios.

Summarize the Article  How does the concepts Production costsapply to the article  How does the concepts mentioned how does it illuminate or illustrate the concepts mentioned in the article. How does it help you understand the article Lebanon’s wave of pager explosions is a message to Hezbollah Is it a prelude to a wider attack or the totality of the message to Hezbollah? This is the key question for the next 48 hours in the Middle East, as the Lebanese militant group comes to terms with the wholesale disruption and violation of their most sacred communications. Tuesday’s wave of explosions in Lebanon will likely scar the Party, as they are often known, who pride themselves on secrecy, and the technological omerta their members adhere to. Yet it is their very bid to keep their secrets – using low-tech pagers and not more trackable smartphones – that appears to have led to several deaths and thousands of injuries. It will have caused a seismic shock with Hezbollah members to now be…

Course: Macroeconomics Suppose that the USA can make 15,000,000 cars or 20,000,000 bottles of wine with one year's worth of labor. France can make 10,000,000 cars or 18,000,000 bottles of wine with one year's worth of labor. From these numbers, we can conclude:   Which country has the absolute advantage in producing cars?  Which country has the absolute advantage in producing wine?  Which country has the comparative advantage in producing cars? Which country has the comparative advantage in producing wine? (Show opportunity cost calculations.)

2. In the latest publication of the "Global Competitiveness Report 2020" which provides a ranking of the most competitive and dynamic economies, we can read: "After sliding for four consecutive years, the United States moved up places for the second year in a row in the World Economic Forum's competitiveness rankings, from fifth in 2016 to ranking second in 2020. A combination of factors, including improving business sophistication and institutional frameworks, helped the United States improve, despite perceptions of inefficient government and a weak macroeconomic environment. The most competitive countries in 2020 are Singapore, The U.S., Hong Kong, Netherlands, and Switzerland” Use the labor market, the production function and the final market (AD-AS) to explain how policies that promote competitiveness and innovation stimulate economic activity without producing diminishing returns. Explain what are the outcomes. Why is competitiveness related with education, productivity and…

The table below shows how many millions of cars and trucks each country can produce in one year. Based on the information, which of the following is true? Maximum Country Country outputs A B CARS 30 m 35 m TRUCKS 6 m 21 m Copyright: www.economicsonline.co.uk Country A has the comparative advantage in trucks Country B has the comparative advantage in cars Country A has the comparative advantage in cars Country A has the absolute advantage in cars

Please help with how to solve part G

Q1:  The following schedule shows the combination of the total production of Aerospace production (Rockets) and agricultural production (Rice) in a specific country, assuming full use of economic resources:   Possibility Rockets Production (X Axis) Rice Production (Y Axis) A 14 0 B 12 3 C 9 6 D 5 9 E 0 12   Answer the following questions: Which points on the graph are attainable and efficient? (Why) What is the opportunity cost of moving from point B to C?             (the opportunity cost of …………………… is …………………)       3. If the country had a loan from the world-bank and directed the loan to increase the agricultural production, show graphically how the PPF           will change?

Firm A Firm B 18- 14- 16 14- 12 10- 12 8 10- B. 8- 6- 4- 2- 2- 10 12 14 16 18 20 22 10 Corn Corn Part A What is the opportunity cost of one unit of barley for Firm A?O What is the opportunity cost of one unit of barley for Firm B? Give your answers as fractions. Part B What is the opportunity cost of one unit of corn for Firm A? What is the opportunity cost of one unit of corn for Firm B? Give your answers as fractions. Part C In which good does Firm A have a comparative advantage? In which good does Firm B have a comparative advantage? Part D In what good or goods does Firm A have an absolute advantage? In what good or goods does Firm B have an absolute advantage? Part E Suppose Firm A and Firm B divide their time equally between the production of both goods. What will be the total production of corn? units Now suppose both firms completely specialize in the product in which they have a comparative advantage and trade with one another.

11:19 Assessment- Sugar-rush-for-hy... Sugar rush for hyperactive Brics By Robert Plummer, Business reporter, BBC News, 2/9/09 The price of raw sugar is hitting highs not seen for nearly three decades - and the surge is having a sweet-and-sour effecet on two of the burgeoning Brie economies. Sugar futures reached more than 24 cents a pound this week, the dearest they have been since February 1981. That makes it a valuable earmer for the Centre-South region of Brazil, the largest sugar-cane growing area in the world. At the same time, Brazil's position is strengthened by a collapse in production in India, the world's number two sugar producer. The weakest monsoon rains in the Asian subcontinent for many years have led to widespread drought, hitting crops hard. However, India remains the top consumer of sugar and is relying on Brazilian imports to make up the shortfall. Up to one million tonnes of Brazilian sugar have been bought by India in recent weeks, according to traders' estimates…

can you help me answer the questions in the image please

Which point(s) are efficient? Briefly explain why. B Points A, B, C, and D because they are attainable. Points B, C, and D because this is where maximum output is produced with available resources. Point A because it is inside the production possibilities frontier. Point E because it is where the most capital and consumption goods combined are produced. A D Point B because it is where the most resources are used to produce capital goods. Which point(s) are inefficient? Briefly explain why. PPF O A. Points B, C, and D because they are on the production possibilities frontier. O B. Points B, C, D, and E because they are unattainable. Consumption goods O C. Points A, B, C, and D because they are attainable. O D. Point E because it is unattainable. OE. Point A because production there is not using all available resources. At which point is the country's future growth rate likely to be the highest? Briefly explain why. O A. Point E because it is where the production possibilities frontier…

Suppose there are two countries: Korea and Japan. These countries can each produce two goods; TV and pen. Specifically, 1 unit of Korean labor can produce 3 TVs or 5 pens. On the other hand, 1 unit of Japanese labor can produce 4 TVs or 8 pens. 1. How many units of labor are required to produce 1 unit of TV in Korea? 2. How many units of labor are required to produce 1 unit of TV in Japan? 3. How many units of labor are required to produce 1 unit of pen in Korea? 4. How many units of labor are required to produce 1 unit of pen in Japan? 5. What is the opportunity cost of producing 1 unit of TV in Korea? 6. What is the opportunity cost of producing 1 unit of TV in Japan?

Homework (Ch 02) Suppose South Africa produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for alfalfa, an agricultural good, and industrial robots, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of an immigration law that results in fewer workers entering the country. 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. 300 PPF 250 200 150 100 O RIAL ROBOTS (Thousands) O I

2. Assume a Ricardian, constant-cost world. There are two countries, the United Kingdom and France. Each country can produce cameras and milk. The table below shows production per man-hour for each country. United France Kingdom Cameras Milk 1 2 The United Kingdom has a labor force of 1,000 workers, and France has a labor force of 500 workers. a) Use this information to graph production possibilities frontiers for both countries. Put cameras on the horizontal axis. b) Assuming that a world price is established at which both countries can gain from trade, show possible consumption frontiers for each country.

Assume that England and Spain can switch between producing cheese and producing bread at a constant     Labor Hours Needed to Make 1 Unit of Number of Units Produced in 24 Hours Cheese Bread Cheese Bread England 2 3 12 8 Spain 3 6 8 4   Assume that England and Spain each has 24 labor hours available. If each country divides its time equally between the production of cheese and bread, then what will be the total production of Cheese and Bread? Check to see if the following combination of Chease and Bread could be produced in England. 6 units of cheese and 4 units of bread. 8 units of cheese and 3 units of bread.

Plz help by answering all 4 questions in paragraph from in 150-200 words 1)What are the matters directly related to comparative economic systems? Discuss whether different policies are better for GDP growth and reducing inequality. 2) Do countries with higher freedom scores have LESS inequality? 3) Do countries with higher freedom scores have higher economic growth? How does economic Freedom Index promote, clean environments, healthy societies human development, democracy, and alleviate poverty? 4)Do Countries with strong Economic Freedom have higher GDP per capita and growth? State this like a hypothesis Economic freedom does not require government involvement, so, economic freedom would be more prevalent in a capitalist country than in a socialist country BUT then how does this relate to the European-Socialist countries that have very strong free market mechanisms, but are still considered "socialist".??

Uncertain if what I have so far is correct and unsure how to solve the rest properly

lexi and Tony own a food truck that serves only two items, street tacos and Cuban sandwiches. As shown in the table, Alexi can make 80 street tacos per hour but only 20 Cuban sandwiches. Tony is a bit faster and can make 100 street tacos or 30 Cuban sandwiches in an hour. Alexi and Tony can sell all the street tacos and Cuban sandwiches that they are able to produce.Output Per HourStreet Tacos Cuban SandwichesAlexi 80 20Tony 100 30a. For Alexi and for Tony, what is the opportunity cost of a street taco? Who has a comparative advantage in the pro-duction of street tacos? Explain your answer.b. Who has a comparative advantage in the production of Cuban sandwiches? Explain your answer.c. Assume that Alexi works 20 hours per week in the business. Assuming Alexi is in business on his own, graph the possible combinations of street tacos and Cuban sandwiches that he could produce in a week. Do the same for Tony.d. If Alexi devoted half of his time (10 out of 20 hours) to making street tacos…