Suppose in a year an American worker can produce 100 shirts or 20 computers, while a Chinese worker can produce 100 shirts or 10 computers.Graph PPC for the 2 countries

Q: The following table shows the units of output a worker can produce per month in Germany and South…

A: Given :    Steel (tons) PC (personal computer) Germany 20 10 South Korea 8 2

Q: Suppose that each country completely specializes in the production of the good in which it has a…

A: The economic theory proposes that, if nations apply the standard of comparative advantage, the…

Q: Country X should trade with Country Y. A. True B. False

A: International trade is carried out by expanding the products beyond the reach of the local…

Q: Pat and Kris arc roommates. They spend most of their time studying (of course), but they leave some…

A: Opportunity Cost is referred to as the benefit that is forgone which could have been derived by an…

Q: United States can produce either 10 units of bread or 30 units of steel per labour hour. Canada can…

A: The given information can be summarised in the table below :-   Bread Steel US 10 30 Canada…

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: 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: 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: Eileen has an absolute advantage in the production of rye, and Clancy has an absolute advantage in…

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

Q: Suppose that each U.S. worker can produce 8 units of food or 2 units of clothing daily. In Fredonia,…

A: Absolute advantage refers to the ability of a country to produce goods more efficiently or more…

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

A: The production possibility frontier(PPF) is the combination of goods that be produced at the maximum…

Q: The U.S. and India use workers to produce either of two goods: Agricultural products, and Technology…

A: Answer a) The US has 600 workers. If 1 unit of A requires 10 workers and 1 unit of T requires 30…

Q: The island of Hispaniola, located in the Caribbean, is divided roughly in half by the two countries…

A: Per capita GDP refers to the total output of a country divided by its population. It is the value of…

Q: Who has the absolute advantage in the production of cars?   Who has the absolute advantage in the…

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

Q: SY 'I commodities: coconuts and passion fruits. The table below contains the amount of each…

A: Given that both countries have 180 hours of labor available we can calculate maximum production of…

Q: Refer to the accompanying figure. For the nation whose PPC is shown, it must be true that Milk…

A: Production possibility frontier shows the different combinations of two goods that can be produced…

Q: For each hour worked, a U.S. worker can produce 4 loaves of bread, or 2 tons of steel. Canadian…

A: According to the given information, one can compute the comparative advantage of both the countries…

Q: Jimmy and Robert are stranded on a deserted island.  Robert can catch 10 fish in a day or pick 15…

A: Comparative advantage refers to the production of a good with the least opportunity relative to…

Q: Maldonia Desonia 48 48 42 42 36 36 PPF 30 30 24 24 18 PPF 18 12 12 --- -- --- -- 6 6 12 18 24 30 36…

A: Without trade, a country consumption and production point remains the same but with trade,…

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: How useful is economic geography in explaining the success of regional economic integration blocs?…

A: Regional economics is an economics subdiscipline that is generally seen as a social science field.…

Q: Assume once again that both California and Michigan can produce one automobile or 75 computer chips…

A: Production possibility frontier shows different combinations of two goods that can be produced.…

Q: The table shows the maximum amount of production if all productive capacity in each country is…

A: The theory of comparative advantage suggests that countries will gain from trade if they specialize…

Q: On a PPC graph, how is economic growth shown? O By pushing the curve to the right. O By moving the…

A: Correct: By pushing the curve to the right

Q: Suppose that Portugal and Switzerland both produce jeans and stained glass. Portugal's opportunity…

A: Given information: There are two countries, i.e., Portugal and Switzerland They produce two goods,…

Q: Maldonia Desonia 48 48 42 42 36 36 PPF 30 30 24 24 18 PPF 18 12 12 A. -- - --- -- 6 6. 12 18 24 30…

A: The production possibility curve of each country shows the combination of two goods a country can…

Q: This table gives how long it takes two roommates to perform two household tasks: Dust the furniture…

A: When goods and services are produced at low opportunity cost compared to others, it is known as…

Q: A French worker has 100 shirts or 20 in a year a computer can produce, while a British worker can…

A: The PPC (Production Possibility Curve) depicts all the possible combinations of products that a…

Q: The Table below shows the amount of labor hours needed to produce cars and airplanes by Japan and…

A:

Q: China and Thailand jointly produce and efficiently trade tea and noodles. China has a comparative…

A: In the international market, when two countries make a trade transaction on the basis of comparative…

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: John and Jack run a car washing business. In one week John can wash 36 cars or he can wax 20 cars.…

A: Wash  Wax John 36 20 Jack 24 12 In a week , John can wash and wax more number of cars as…

Q: 42 42 36 36 PPF 30 30 24 24 18 PPF 18 12 12 5 -- -- 6. 0 6 12 18 24 30 36 42 48 6 12 18 24 30 36 42…

A: Comparative advantage is an effective tool or method to make international trade to be beneficial…

Q: Labour hours needed to make 1 unit Cars Airplanes Amount producedin 24 hours: Airplanes Cars Canada…

A: Comparative advantage is theory which tells about that a country should export that goods and…

Q: In Canada, one labour hour can produce 6 bagels or 24 chairs. In the United States, one labour hour…

A:

Q: France Terms of trade Sweden Suppose that France and Sweden both produce fish and wine. France's…

A: An economy is said to be in a state of comparative advantage when the opportunity cost of producing…

Q: Imagine that it takes an average Australian miner 10 hours to mine a metric ton of coal and 20 hours…

A: A country, that can produce a good or service at less opportunity cost than the other country, is…

Q: PPF 16 14 Without Trade 12 10 8 With Trade 6. 4. 2 50 100 150 200 250 300 350 400 Wheat (millions of…

A: The value of the next best alternative foregone is known as opportunity cost. Mexico: It can either…

Q: Brazil is able to produce 10 cars and 5 computers in one hour while India is able to produce 1 car…

A: Comparative advantage refers that it is a tool which is used for calculate the optimal use of two…

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

A:

Q: What is the trade balance between the U.S. and China from 2018 to 2020? Graph the year and trade…

A: As per the guidelines only the first question can be answered. Kindly repost the questions. Trade…

Q: Suppose that there are 10 workers in each country and real GDP includes just televisions and cell…

A: Absolute Advantage is defined as when a producer can produce a good or a service at a lower cost and…

Q: iv. Which country has the Comparative advantage in chairs? v. If each country has 10 workers who can…

A: Absolute advantage is the ability to produce a good using fewer inputs than another producer, while…

Q: If the United States produces 8 automobiles and Canada produces 4 automobiles and the United States…

A: In this case United states possess absolute advantage in producing automobile.

Q: Nation 1 - 400 million employees Nation 2 - 400 Million employees Nation 1 and 2 workers can…

A: A economy is said to be an open economy if it engages in trade with other countries. The free trade…

Q: Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can produce 7,523…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can produce 7,523…

A: a)

Q: trade

A: Trade depicts the interchange of goods and services among the countries/ states/ regions in returns…

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.