In the 20th century, Latin American countries were plagued by weak governments and subject to foreign (American) interventions based on the interests of what industry? 1. Avocado 2. Cacao 3. Coffee 4. Maize 5. Bananas
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- Economic Scenario: Country A has one of the highest real GDP while Country B has one of thehighest real GDP per capita in the world respectively. a.what are the (3) comparative differences between real GDP and real GDP per capita. b.What does this tell us, about the well-being of the residents of Country A and B?mya and Donovan produce two goods in an 8 hour day. Mya can produce 10 capital or 55 consumables and Donovan can produce 75 capital or 60 consumables. who has the absolute advantage in the production of consumable goodsSuppose there are only two small countries in the world: Ascot, with a population of 30,000 people, and Delwich, with a population of 20,000 people. Ascot’s GDP is equal to $150 million, while Delwich’s GDP is $250 million. Delwich’s GNP has been estimated to be equal to $280 million. Use this information to calculate Ascot’s GNP, the GDP per capita in Ascot, and the GNP per capita in Delwich.
- Points A and B on the Combined graph represent Malaysia's and Canada's production, and the red point shows the combined production of the two countries. Which of the following is a correct interpretation of points A and B? multiple choice 1Each country is using all of its resources.Malaysia is using a higher percentage of resources than Canada.Canada is using a higher percentage of resources than Malaysia.Both countries have unused resources that could increase production without a tradeoff.Which statements are true or false? 1. S1: The equilibrium nations want to achieve ideally is the stableequilibrium. S2: The general idea of an equilibrium is one in which allparticipants are doing what is best for them, given what they expect othersto do, which in turn matches what others are actually doing.Graph 1: Draw a production possibilities model with 4 points labeled A, B, C, D, one inside, two on, and one outside the production possibilities curve. Explain the 4 points in terms of scarcity, choice, and efficiency. Graph 2: Draw a production possibilities model which illustrates economic growth. Graph 3: Draw a production possibilities model and using your own numbers, explain the concept of the law of increasing opportunity cost. Graph 4: Draw a production possibilities model for North Korea and label the Y axis Guns, and the X axis Butter. Put two points, A and B, on the curve. Using the two points, explain the concept of government (or market) failure.
- Q1. Assume that a country produces two goods, agriculture (which requires land and labor) and manufactured goods (which requires labor and capital), and is currently in autarky equilibrium. The country just finds that the international price ratio of agriculture relative to manufactured goods, i.e., PA/PM, in the world market is higher than the price ratio in its domestic market. Should this country trade? If so, which product should it export? Will it gain from trade? Illustrate your answer graphically using production-possibilities frontier (PPF) and indifference curves. In the same graph, identify the trade triangle, including export and import quantities. How will the size of the trade triangle, i.e., the levels of export and import quantities, in the above question change when PA falls in the world market? Illustrate your answer graphically. How will the nominal wage rate in this country be affected by trade? What about real wages? Illustrate your answer graphically. Your…3. True or False? The gravity model states that trade between two countries will increase if the size of either country’s economy increases and the distance between the two countries is bigger. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.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?
- NEWS WIRE NORTH KOREA'S ROCKETS DEEPEN FOOD CRISIS North Korea's Rocket Launches Cost $1.3 Billion North Korea's rocket program is costly. In December 2012 North Korea successfully launched a long-range rocket carrying a satellite into space. That feat cost $300 million. The entire cost of the rocket program last year - including the failed launch in April - totaled about $1.3 billion according to estimates by South Korea experts. With that much money North Korea could have purchased 4.6 million tons of corn - enough to feed its population for 4-5 years. North Korea's ambitious nuclear program costs nearly triple that amount. The burden of North Korea's military program is evident in widespread poverty and periodic starvation. Source: News accounts of December 2012 - January 2013. According to the News Wire, what is the opportunity cost of North Korea's rocket program in terms of corn for North Korea's 25 million people? million tons of cornSuppose the UK has 50 hours of labor available, and the US has 100 hours of labor available. Each can use this labor to produce either cars or bicycles. The UK can produce a car using 10 hours of labor, and a bicycle using 5 hours of labor. The US can produce a car using 5 hours of labor, and a bicycle using 4 hours of labor. Suppose that jointly, the two countries produce 15 bikes and 16 cars. Then it must be that the UK only produces bikes, and the US produces both bikes and cars. the UK produces bikes and cars, and the US only produces cars. the UK only produces cars, and the US only produces bikes. the UK only produces bikes, and the US only produces cars.mya and Donovan produce two goods in an 8 hour day. Mya can produce 10 capital or 55 consumables and Donovan can produce 75 capital or 60 consumables. who has the absolute advantage in the production of capital goods