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In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10 tons of rubber or 40 radios.
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- Suppose that in a year an American worker can produce 60 shirts or 30 computers and a Chinese worker can produce 60 shirts or 12 computers. There are 1 million workers in each country.Assume that there are three industries in the Home country: industry A, industry B and industry C. Total labour force of the Home Country in the year 2015 was 75,000. 25,000 of this labour force were employed in industry A, 25,000 of it were employed in industry B, and the rest were employed in industry C. In year 2016, total labour force was 150,000. This time 50,000 were employed in industry A, 50,000 were employed in industry B and the remaining workers were employed in industry C. What is the industrial transformation for the Home Country? (a)0. (b)1/2. (c)1/6. (d)4/15. Show your calculation and explain it. Limit your explanation to 200 words.Consider a country in which for goods (A, B, C, and D) are produced. The following table shows data for prices and quantities produced for three years. Production Price per unit Q1 Q2 Q3 P1 P2 P3 Good A 45 40 42 10 8 8 Good B 52 55 54 12 10 12 Good C 14 17 18 6 10 11 Good D 29 28 30 15 17 19 a. 1425 b. 1615 c. 1593 d. 2015 Nominal GDP for year 1 is equal to:
- True or false questions. Need both. GDP measures the gap between a country's exports and its imports. Any country with a trade surplus necessarily has a healthy economy (e.g. is experiencing an economic expansion).Consider an economy that produces wood, boats, and has a marketing agency.This year domestic wood production generates revenues of $80. Of this $80 worth of wood, $40were purchased by the boat producer and $40 were sold abroad to a foreign company. The woodproducer paid $40 worth of wages and $10 worth of taxes.The boat producer combines the services of the marketing agency, the wood it purchased from thewood producer, and $20 worth of labor (wages) to produce $120 worth of boats. Its revenues,which include a boat produced in the previous year and that was carried as inventory, are $130.Domestic families buy all these boats. This company pays $10 worth of taxes.The marketing agency, whose sole client is the boat company, generates a revenue of $40 whichis enough to cover its labor costs of $40. This company pays no taxes.The government in this economy uses the $20 worth of taxes and builds a port. The cost of theport is $40 that are paid to workers. This port is partially financed by…The following table presents the exports and imports of a country in three categories for the years 2005 and 2010. Categorie Exports (millions $) Imports (millions in $) 2000 2010 2000 2010 Agriculture 51,296 70,912 39,186 65,459 Manufacture 625,894 785,599 1,012,855 1,416,302 Minery 13,479 34,711 135,367 332,500 Construct four matrices, one for each column of the table, whose dimension is 3 x 1. Use two of these matrices to determine matrix E, which will represent the trade balance for the year 2000 and matrix B, which will represent the trade balance for the year 2010. Apply the concepts of matrix algebra to determine the matrix E - F, which will compare both years. Apply the properties of the matrices to determine if the trade balance from…
- The ____________________ is based on the prices of merchandise that are exported or imported. Question options: a) International Price Index b) Producer Price Index c) International Product Index d) Foreign Price Index The Producer Price Index is based on prices paid for supplies and inputs by: Question options: a) the small business sector b) government c) producers of goods and services d) consumersInternational Trade: Assume that there are three industries in the Home country: industry A, industry B and industryC. Total labour force of the Home Country in the year 2015 was 75,000. 25,000 of this labourforce were employed in industry A, 25,000 of it were employed in industry B, and the rest wereemployed in industry C. In year 2016, total labour force was 150,000. This time 50,000 wereemployed in industry A, 50,000 were employed in industry B and the remaining workers wereemployed in industry C. What is the industrial transformation for the Home Country?(a) 0.(b) 1/2.(c) 1/6.(d) 4/15.Show your calculation and explain it. Limit your explanation to 200 words.Life expectancy at birth in Iceland: Total population is 83.25 years. Male 81.21 years. Female 85.79 years. (2021 est.) Iceland population 354,234(July 2021 est.) Iceland GDP per capita: $52,300 note: data are in 2017 dollars (2020 est.) $56,900 note: data are in 2017 dollars (2019 est.) $56,700 note: data are in 2017 dollars (2018 est.) Data are in 2010 dollars Iceland in purchasing power parity: $19.16 billion note: data are in 2017 dollars (2020 est.) $20.52 billion note: data are in 2017 dollars (2019 est.) $20.01 billion note: data are in 2017 dollars (2018 est.) Data are in 2010 dollars PPP for Iceland GNP per capita=?
