A German worker takes 400 hours to produce a car and 2 hours to produce a case of wine. A French worker takes X hours to produce a car and 3 hours to produce a case of wine. For what values of X will gains from trade be possible? Check all that apply. 2 000 600 700 800 For what values of X will Germany export cars and import wine? Check all that apply. 1 2 800

A German worker takes 400 hours to produce a car and 2 hours to produce a case of wine. A French worker takes X hours to produce a car and 3 hours to produce a case of wine. For what values of X will gains from trade be possible? Check all that apply. 2 000 600 700 800 For what values of X will Germany export cars and import wine? Check all that apply. 1 2 800

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains Rrom Trade

Section: Chapter Questions

Problem 7PA

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Similar questions

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A German worker takes 500 hours to produce a car and 5 hours to produce a case of wine. A French worker takes XX hours to produce a car and 4 hours to produce a case of wine. For what values of XX will gains from trade be possible? Check all that apply. 2 400 600 800 For what values of XX will Germany export cars and import wine? Check all that apply. 3 600 800
A French worker has 100 shirts or 20 in a yeara computer can produce, while a British worker can produce 100 shirtsor let's say it can produce 10 computers.- In this direction, as in question l, both the French andProduction possibilities for the British in Tabular Formyour show.- France and England each have 100 workerslet's assume. Each country, half of its employees in each sectorif it does, how many shirts and computers does each country produce?What is the total output of the shirt and computer in the worldmuch?- Now compare all employees of each countrythat he specialises in the industry in which he has the upper handlet's assume. In this case, shirts and computershow much is the total output in the world?
Q54 Does free trade improve the living standards of all residents of a country? a. No, because the losses in the import-competing industries outweigh the gains from trade in the new export industries. b. Yes, because inefficient import-competing industries are replaced with efficient export industries. c. Probably not. In principle, the net gains from trade could be divided such that every individual is better off, but in practice, some individuals are likely to be worse off. d. No, because the benefits from free trade are only theoretical. e. Yes, definitely, because the gains from trade outweigh the losses in the import-competing industries.