How does global import and export business impact goods from a supply demand perspective when we can create these resources in the US?

Q: i need to know the oppurtunity cost between USA and China for making Machines and Clothing. at 1,000…

A: USA 1,000 workers are used to produce 2750000 units of machines and 2000000 units of clothes.Unit…

Q: A German worker takes 500 hours to produce a car and 5 hours to produce a case of wine. A French…

A: Opportunity Cost: It is the cost of the next best alternative forgone for doing an action.…

Q: Country X Country Y Phones Television sets a) Fill in the table to show that country x has an…

A: Absolute advantage is the ability for producing a good using fewer inputs while comparative…

Q: As a country develops economically, what changes usually take place in the goods it exports? Select…

A: The branch that deals with the department where the primary goal is the betterment of economic,…

Q: Assuming that there are only two countries in the world, Indonesia and ROW (Rest of the World) which…

A: Factors of production: It refers to the capital, labor and machinery. These are the resources that…

Q: Z and S.A are trading partners.  Both produce metal ores (including lithium) and delivery trucks.…

A: A country has a Comparative advantage when the opportunity cost (OC) of producing a good or service…

Q: onsidering that resources are scarce, is it a good decision to allow China to explore and use up the…

A: (A trade-off is an economic theory that entails "giving up one thing in exchange for something…

Q: Based on Maritime Security define the terms:   The economic importance of maritime trade Mega port…

A: The trade is the difference between the exports and imports. The exports mean the goods and services…

Q: In 2017, Ecuador's biggest export was crude (unprocessed) petroleum, 63% of which it exported to the…

A: A country is said to have a comparative advantage when a lower opportunity cost a country poses to…

Q: A Production Possibilities Frontier shows Group of answer choices all the combinations of two goods…

A: Production Possibilities Frontier (PPF) is also known as the Production Possibilities Curve (PPC).

Q: If Kamilah can produce 4 computers or 3 radios during a month's time, while Sally can produce 1…

A: Comparative advantage is a producer's ability to produce a specific good and service at a lower…

Q: Examine the role of WTO in resolving such trade conflicts between countries.

A: The World Trade Organization (WTO) is an intergovernmental body that regulates and supports…

Q: Based on Comparative advantage, what factors have helped the united states to become the world's…

A: The country that can produce a good at a lower opportunity cost compared to the other countries, the…

Q: What is an export supply curve? What is an import demand curve? How do such curves relate to the…

A: Export demand curve: This is an upward sloping curve which represents the goods and services…

Q: True or False: Without engaging in international trade, Maldonia and Lamponia would not have been…

A: Here there are two countries Maldonia and Lamponia. Who's production possibility curve is as…

Q: The graph below shows the market for tires in the United States, a nation that is open to…

A: Answer - "Thank you for submitting the question.But, we are authorized to solve only 3 subparts .…

Q: If country A produces oranges and country B does not have the climate to produce oranges, however,…

A: International trade is an economic concept that refers to the trade of goods and services between…

Q: We can conclude that Spain has a comparative advantage in the production of chairs. [True or False]

A: Comparative advantage is focusing on the possibility of trade even though there is no absolute…

Q: Consider an economy (with no international trade) in which the price level is constant where C = 500…

A: The equilibrium level of GDP is that point where the AE (aggregate expenditure) which is a straight…

Q: Illustrate your trade advice by showing the free trade production levels of each country on its PPF.…

A: A country if engages in free trade should produce those good in which its opportunity cost is low so…

Q: Japan, one worker can make 5 tons of rubber or 30 radios. In Malaysia, one worker can make 4 tons of…

A: An absolute advantage refers to the competitive advantage of a firm when it is able to produce more…

Q: Please assist; Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can…

A: Hello, thank you for the question. Since there are multiple subpart questions posted under the same…

Q: In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10…

A: International trade: - it means the buying and selling of goods and services with other countries.

Q: Is it possible to have a comparative advantage in the production of a good but not to have an…

A: In democratic government typically, it has been seen that there is both public and private sector…

Q: England and Scotland both produce scones and sweaters. Suppose that an English worker can produce 40…

A: Absolute advantage is the benefit a country has in producing a good more efficiently than other…

Q: Questions 12-15 refer to the simple (free) trade model graph of country A on the right that shows…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Explain how each of the following situations would affect a nations production possibility curve. A…

A: The production possibility curve is the graphical representation of the different combinations of…

Q: If Malaysia wishes to trade 10 tons of rubber with Japan in exchange for radios, what is the lowest…

A: International trade refers to the exchange or trade of goods and services between nations. The…

Q: In 2020, Spain had a population of 46 million and its capital stock was US$90,000 billion. The…

A: International trade refers to the flow of goods and services across countries. Countries do…

Q: If the United States produces 8 automobiles and Canada produces and Canada produces 2 automobiles,…

A: Comparative advantage is when the country possesses a lower Opportunity cost(OC) in producing a…

Q: What term is used to describe the ways in which people are affected by, or resist against, the…

A: The term which is used to describe the ways in which people are affected by, or resist against, the…

Q: France can produce either 50 units or 80 units of wine per labour hour. Canada can produce either 87…

A:

Q: Why exports of fish and fish products are essential to the economies of many countries and regions?

A: According to Secretary of Commerce Wilbur Ross, recreational and commercial saltwater fishing in the…

Q: Germany can produce either 40 units of pretzels or 20 units of cars per labour hour. Canada can…

A: Answer: Given, Country Pretzels per labor hour Cars per labor hour Germany 40 20 Canada 61 14…

Q: As people engage in more international travel and become familiar with other countries, will…

A: Introduction: The tourism business is crucial to worldwide economies. Tourism is now the greatest…

Q: Suppose Anguilla and Barbuda intend to trade 250 bananas (B) for 300 cocoa beans (C). In Anguilla,…

A: Hi, according to our guidelines we are allowed to answer only upto three subdivisions of a question…

Q: Do you think that the United States should phase out dependence on imported oil?

A: Do you think that the United States should phase out dependence on imported oil?   Yes, I personally…

Q: If the United States produces 8 automobiles and Canada produces 2 automobiles and the United States…

A: Opportunity cost is the cost that is foregone in order to make a choice.

Q: Of the following countries, which is the most dependent on imported oil?   a. Japan   b. The…

A: petroleum-based industries portray a wide scope of regular hydrocarbon-based substances and refined…

Q: How can you say that a country participates in the global market?

A: A global market is one in which one country's goods and services are traded (bought or sold) to…