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EconomicsPrinciples of Macroeconomics (MindTap Course List)A German worker takes 400 hours to produce a car and 2 hours to produce a case of wine. A French worker takes 600 hours to produce a car and X hours to produce a case of wine. a. For what values of X will gains from trade be possible? Explain. b. For what values of X will Germany export cars and import wine? Explain.
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A German worker takes 400 hours to produce a car and 2 hours to produce a case of wine. A French worker takes 600 hours to produce a car and X hours to produce a case of wine. a. For what values of X will gains from trade be possible? Explain. b. For what values of X will Germany export cars and import wine? Explain.

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Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509
BuyFind

Principles of Macroeconomics (Mind...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305971509

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Textbook Problem

A German worker takes 400 hours to produce a car and 2 hours to produce a case of wine. A French worker takes 600 hours to produce a car and X hours to produce a case of wine.

a. For what values of X will gains from trade be possible? Explain.

b. For what values of X will Germany export cars and import wine? Explain.

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Chapter 3 Solutions

Principles of Macroeconomics (MindTap Course List)
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Ch. 3 - Explain how absolute advantage and comparative...Ch. 3 - Give an example in which one person has an...Ch. 3 - Is absolute advantage or comparative advantage...Ch. 3 - If two parties trade based on comparative...Ch. 3 - Why do economists oppose policies that restrict...Ch. 3 - Maria can read 20 pages of economics in an hour....Ch. 3 - American and Japanese workers can each produce 4...Ch. 3 - Pat and Kris are roommates. They spend most of...Ch. 3 - Suppose that there are 10 million workers in...Ch. 3 - England and Scotland both produce scones and...Ch. 3 - The following table describes the production...Ch. 3 - A German worker takes 400 hours to produce a car...Ch. 3 - Suppose that in a year an American worker can...Ch. 3 - Are the following statements true or false?...

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