Japan, one worker can make 5 tons of rubber or 30 radios. In Malaysia, one worker can make 4 tons of rubber or 40 radios. Who has the absolute advantage in the production of rubber or radios? How can you tell?

Q: Evaluate the following statement: is it true, false, or uncertain? "The United States can produce…

A: Please find the images attached for detailed solution

Q: Bahrain and Bhutan each have 10,000 hours of labor per month. In Bahrain,producing one pound coffee…

A: International trade refers to the import and export of goods and services among different countries…

Q: Between two, the producer that requires a smaller quantity of inputs to produce a good     Has an…

A: In a market, producers cam gain different types of competitive advantage based on their…

Q: Using the following data, decide which country has comparative advantage for which good:   good x…

A: Theory of comparative advantage was given by David Ricardo. According to David Ricardo gains from…

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: Suppose that in France 40 labor hours are required to produce a liter of wine. In Italy, 30 labor…

A: Comparative advantage occurs when a country can produce the good efficiently and at a lower…

Q: has an absolute advantage in the production of barley, and has an absolute advantage in the…

A: Absolute advantage implies that producer can produce a particular good or service in higher quantity…

Q: What theory attempts to explain why Japan is strong in automobiles, Switzerland in precision…

A: International trade occurs where the goods and services flow across the countries.

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

A: If a company has a lower opportunity cost in producing a good it is said that the country has a…

Q: If the country specialize in and agreed to trade 100 car parts for 100 aircraft parts, show on the…

A: Given PPF,

Q: mya and Donovan produce two goods in an 8 hour day. Mya can produce 10 capital or 55 consumables and…

A: The trade becomes beneficial when the individuals or nations specialize in producing goods in which…

Q: Brazil Mexico Soya per unit of labor 0.05 0.02 Corn per unit of labor 1.25 1.40 Which…

A: Answer: Given:

Q: The country of "Econoland" can use its resources to produce either 500 tons of crab or 200 tons of…

A: Here, Two countries are given as Econoland and Arcadonia, which are producing two goods as crab and…

Q: States can produce a maximum of 600 bushels of barley or a maximum of 600 bushels of corn. Mexico…

A: The United States In USA the Barley opportunity cost are as follows 600 bushels of barley = 600…

Q: Zeetopia and Freshland are two small tropical islands that use the same amounts of resources to…

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

Q: mya and Donovan produce two goods in an 8 hour day. Mya can produce 10 capital or 55 consumables and…

A: An individual can have an absolute advantage over another individual in the manufacturing of a…

Q: According to the theory of comparative advantage, countries gain from trade because ___a. trade…

A: In the international market, a theory of comparative advantage has its significance to define the…

Q: Suppose that a tailor in Cottonland can sew either 40 cotton shirts or 10 silk shirts per week, and…

A: 2.1. Given: A tailor in Cottonland can sew 40 cotton shirts while a tailor in Silkland can sew 18…

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: Kelly and David are both capable of repairing cars and cooking meals. Which of the following…

A: Absolute cost advantage: - it is a principle of international trade given by Adam Smith which shows…

Q: Q3. In the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals…

A: In the international market, a country can have an absolute advantage in the manufacturing of a…

Q: Beth has an absolute advantage in the production of barley, and Andrew has an absolute advantage in…

A: Answer: Absolute advantage: Absolute advantage refers to the capacity of a person, firm, and region…

Q: Zeetopia and Freshland are two small tropical islands that use the same amounts of resources to…

A: Hello, thank you for the question. Since there are multiple sub-part questions asked here, only the…

Q: Computers                 Wheat country A       10                                4 country B…

A: (Q)               Computers                 Wheat country A       10…

Q: If each country specializes in the good in which it has a comparative advantage,....will gain from…

A: Introduction According to comparative advantage, countries will trade with others, exporting…

Q: Determine whether the scenarios below represent absolute or comparative advantage: A. Absolute…

A: Absolute advantage: when a country can produce a good using the low level of inputs or can produce…

Q: Automobiles                 Computers…

A: According to the question, it is given that :   Automobiles Computers USA 20 15 Germany  15 5…

Q: 23. Assuming labor is the only resource and England has 60 man-hours (mhrs) and Portugal 180 mhrs of…

A: Resources are the stock or material by which the benefit is derived with some utility.

Q: Is it possible to have a comparative advantage without having any absolute advantages ? Yes or No

A: A nation is said to have an absolute advantage in the production of a good (let's say X) if the…

Q: Japan can use all of its resources to produce 100 videos or 400 shoes. China can use all of its…

A: The information given can be represented as below:

Q: In Norway, one worker can produce either 8 pounds of smoked fish or 8 barrels of oil. In Saudi…

A: Given:- Production in Norway=8 pound of fish or 8 barrels of oil Production in Saudi Arabia=5 pound…

Q: Assume that you were a small country, what would you rather have a comparative or absolute advantage…

A: ABSOLUTE ADVANTAGE   When a country produces more units of good/service than other countries using…

Q: Which of the following statements regarding absolute and comparative advantage is true? A. A nation…

A: Trade between two countries benefits both countries. Absolute Advantage refers to the ability of…

Q: TRUE OR FALSE: It is possible to have comparative advantage in producing a good or service without…

A: Answer is given below

Q: Argentina has 100 million tons of soybeans and 80 million tons of wheat, Bolivia has 120 million…

A: Absolute advantage refers to ability of a person of country to produce larger amount of the good…

Q: South Korea has an absolute advantage in the production of an item, it must also have a comparative…

A: Opportunity cost measures the trade off between two goods.

Q: Absolute advantage only helps one country? True or False

A: Absolute Advantage Theory states a good or services is produced in more quantity at similar cost or…

Q: In context of International Business and Trade the above example of US and Mexico focuses on…

A: Absolute advantage is when a country is able to produce a good or service more efficiently than…

Q: An average worker in Brazil can produce an ounce of soybeans in 20 minutes and an ounce of coffee in…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Calculate and tell which country has comparative advantage in production of shoes? Calculate and…

A: Comparative advantage arises when the country produces a good at a lower opportunity cost than the…