Which country will be exporting and importing which product? O England will be exporting both wine and cloth O Portugal will be importing wine and importing cloth O Portugal will be exporting cloth and importing wine O England will be exporting wine and importing cloth None of the above
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Which country will be exporting and importing which product?
A) England will be exporting both wine and cloth
B) Portugal will be importing wine and importing cloth
C) Portugal will be exporting cloth and importing wine
D) England will be exporting wine and importing cloth
E) None of the above
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- Alexandra’s Production Possibilities Schedule Natalia’s Production Possibilities Schedule Number of Scarves Knitted per Hour Number of Sweaters Knitted per Hour Number of Scarves Knitted per Hour Number of Sweaters Knitted per Hour 0 4 0 4 3 3 2 3 6 2 4 2 9 1 6 1 12 0 8 0 If Natalia were to export a good, which one(s) would she export?ackground information: A worker in the United States and a worker in China can each produce 1,000 pairs of jeans per week. A worker in the United States can produce 50 cell phones in a week, and a worker in China can produce 100 cell phones in a week. Answer the following questions based on this information.Part A: If each country attempted to produce both jeans and cell phones, how many jeans and cell phones could each country produce? What would be the total number of jeans and cell phones produced by the two countries combined? (Show your work.)Part B: Calculate the opportunity cost of producing jeans for each country. (Show your work.)Part C: Calculate the opportunity cost of producing cell phones for each country. (Show your work.)Part D: Determine how many jeans should be produced by each nation. (Show your work). Part E: If each nation should specialize in producing jeans and cell phones, explain why; use economic terminology you have learned in this unit in your…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 corn
- Production possibilities of the United States (USA) and South Africa (RSA): USA RSA wheat (bushels/hour) 4 1 cloth ( meters/hour) 3 2 Plot the production frontiers of the United States and South AfricaRequired information Rome 40 bread Cathay 20 bread (0)/(0) (20" figs ")/(40" figs ") If each country is self-sufficient (no trade) and each allocates one half of its resources to producing Multiple Choice 40 bread and 20 figs in Rome and 20 bread and 40 figs in Cathay. 40 bread and 0 figs in Rome and 20 bread and 0 figs in Cathay. 0 bread and 20 figs in Rome and 0 bread and 40 figs in Cathay. 20 bread and 10 figs in Rome and 10 bread and 20 figs in Cathay. SearchExplain how each of the following situations would affect a nation's production possibility curve. (i) A technological innovation allows the nation to more efficiently convert solar energy into electricity. a) What happens to the PPF? b) Explain (ii) COVID-19 increases the number of unemployed workersin the nation. a) What happens to the PPF? b) Explain (iii) A global pandemic results in 6 million confirmed cases and the death of over 400,000 individuals. a) What happens to the PPF? b) EXplain (iv) A switch to online delivery, increases access to education in the nation's colledges and universities, but might have a detrimental impact on the quality of education. a) What happens to the PPF? b) Explain v) The nation passes a law requiring all employers to give the employees 16 weeks of paid vacation each year. Prior to this law employer were not legally required to give employees any paid vacation time. a) What happens to the PPF? b) Explain
- Suppose a country's workers can produce 4 pens per hour or 12 pencils per hour. If there is no trade, ________. a. the domestic price of 1 pencil is 1/4 of a pen b. the domestic price of 1 pencil is 4 pens c. the domestic price of 1 pencil is 12 pens d. the domestic price of 1 pencil is 1/3 of a pen e. the domestic price of 1 pencil is 3 pens 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.A country produces two goods: coconuts and umbrellas. Their production possibilities frontier (PPF) places coconuts on the x-axis and umbrellas on the y-axis. How would a drought that makes it difficult to grow coconuts but does not affect the production of umbrellas change the PPF? Neither the value of the x-intercept nor the y-intercept would change The value of the y-intercept would increase but the value of the x-intercept would not change The value of the x-intercept would increase but the value of the y-intercept would not change Both the value of the x-intercept and the y-intercept would increase The value of the y-intercept would decrease but the value of the x-intercept would not change The value of the x-intercept would decrease but the value of the y-intercept would not changeYou are given a brief about Ghana highlighting the following points: About half of Ghana’s population depends on agriculture, but Ghana still imports some of its food. The majority of Ghana's people live in rural areas and exist on a subsistence way of life. Ghana has one of the highest rates of income inequality in the world. Nearly half of the population is employed in agriculture. A representative from Ghana's agricultural organisation is very much in favour of closing borders. He argues that consumers and producers will benefit from this. Is he right? Who would benefit most, are there any losers from the policy?
- Question 7 A Production Possibilities Frontier shows Group of answer choices all the combinations of two goods or services a person/country wants to consume. all the combinations of how much of two goods a person/country can produce when they trade. the tradeoff between how much the person/country likes two goods or services. all the combinations of two goods a person/country is able to produce with the resources it has.Fill in the blank below Founded in 1975, the Group of Seven (G7) is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Essentially, the G7 is the is the premier global forum for discussing economic issues. Institutionally, the G-7, long a developed market stronghold, has expanded into the G-20, thereby giving new members like China, India, Brazil, Mexico, and South Korea greater say in global governance. These new stakeholders typically advocate ____________views of trade promotion and investment regulation than those endorsed by the founding members of the G7. A) Similar B) DifferentThe solid line represent current PPF while the dashed line represents a country's desired PPF. Choose which of the four points (W,X, Y or Z) will result in getting to the dashed line (desired PPF) in the future. Explain