Output per worker Country ... Australia Brazil 200 Sleds Clarinets 300 2 Good Suppose that Australia and Brazil have the outputs per worker in producing sleds and clarinets shown in the table above. Then Brazil has a Comparative advantage in sleds. BComparative advantage in clarinets. Absolute advantage in sleds. Absolute advantage in clarinets.

Output per worker Country ... Australia Brazil 200 Sleds Clarinets 300 2 Good Suppose that Australia and Brazil have the outputs per worker in producing sleds and clarinets shown in the table above. Then Brazil has a Comparative advantage in sleds. BComparative advantage in clarinets. Absolute advantage in sleds. Absolute advantage in clarinets.

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Description: Output perworkerCountry...AustraliaBrazil300200SledsClarinetsGoodSuppose that Australia and Brazil have the outputs per worker in producing sleds and clarinets shown in the table above. ThenBrazil has aComparative advantage in sleds.Comparative adva

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains From Trade

Section: Chapter Questions

Problem 6CQQ

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Similar questions

In Germany it takes three workers to make one television and four workers to make one video camera. In Poland It takes six workers to make one television and 12 workers to make one video camera. Who has the absolute advantage in the production of televisions? Who has the absolute advantage in the production of video cameras? How can you tell? Calculate the opportunity cost of producing one additional television set in Germany and In Poland. (Your calculation may involve fractions, which Is tine.) Which country has a comparative advantage in the production of televisions? Calculate the opportunity cost of producing one video camera in Germany and in Poland. Which country has a comparative advantage in the production of video cameras? In this example, is absolute advantage the same as comparative advantage, or not? In what product should Germany specialize? In what product should Poland specialize?
Does intra-industry trade contradict the theory of comparative advantage?
Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40 pounds of beef or 30 autos. Which country has the absolute advantage in beef? Which country has the absolute advantage in producing autos? What is the opportunity cost of producing one pound of beef In Brazil? What is the opportunity cost of producing one pound of beef in the United States?
True or False: The source of comparative advantage must be natural elements like climate and mineral deposits. Explain.