Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the two goods that each country can produce in one day are presented inthe table belowUnited StatesMexicoHamburgers (in tons)Tacos (in tons)216Hamburgers (in tons)Tacos (in tons)1208040801448160721624024Which country has an absolute advantage in producing tacos?MexicoClick to select your answer(s) and then click Check Answer.The United States

Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the hwo goods that each the table below United States Mexico Hamburgers (in tons) Tacos (in tons) 120 Tacos (in tons) 216 144 72 Hamburgers (in tons) 80 80 160 40 16 24 240 Which country has an absolute advantage in producing tacos? Mexico Click to select your answers) and then click Check Answer The United States

Suppose the United States and Mexico both produce hamburgers and tacos. The combinations of the hwo goods that each the table below United States Mexico Hamburgers (in tons) Tacos (in tons) 120 Tacos (in tons) 216 144 72 Hamburgers (in tons) 80 80 160 40 16 24 240 Which country has an absolute advantage in producing tacos? Mexico Click to select your answers) and then click Check Answer The United States

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains Rrom Trade

Section: Chapter Questions

Problem 6PA

See similar textbooks

Similar questions

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. Who has the absolute advantage in the production of rubber or radios? How can you tell? Calculate the opportunity cost of producing 80 additional radios in Japan and in Malaysia. (Your calculation may involve fractions, which is fine,) Which country has a comparative advantage in the production of radios? Calculate the opportunity cost of producing 10 additional tons of rubber in Japan and in Malaysia. Which country has a comparative advantage in producing rubber? In this example, does each country have an absolute advantage and a comparative advantage in the same good? In what product should Japan specialize? In what product should Malaysia specialize?
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?
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.