Suppose the economy is currently producing at Point C. What is the opportunity cost of increasing production of bananas to 300 tonnes at Point D? 100 tonnes of cotton 360 tonnes of cotton 300 tonnes of cotton 920 tonnes of cotton.
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- Suppose that Russia produces 10,000,000 barrels of oil and 1,000 bushels of wheat each week. Suppose that Pakistan produces 9999 barrels9999 barrels of oil and 9999 bushels9999 bushels of wheat each week. In autarky, what is the largest amount of wheat Russia can consume every week?If this economy devotes all of its resources to the production of notepads, then it will produceSuppose that Russia produces 10,000,000 barrels of oil and 1,000 bushels of wheat each week. Suppose that India produces 10657 barrels of oil and 10657 bushels of wheat each week. In autarky, what is the largest amount of wheat Russia can consume every week? amount of wheat per week: What does the term autarky refer to? O a major argument against globalization government policies meant to reduce international trade the process of negotiating terms of trade between two countries a situation where one country does not engage in trade with other countries bushels
- 140 120 100 20 PPP 10 20 30 40 50 60 70 80 90 100 Quantity of rubber hoses (Figure: Figure: Rubberland's Production Possibilities) Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the lighter PPF curve in the graph. Point A on the lighter PPF curve represents the combination of the two goods Rubberland currently produces. When a new method of rubber processing is discovered, the PPF shifts to the right, the darker PPF curve. Assume that Rubberland does not make more rubber hoses than they originally made at point A but still maximize their productive capabilities. How many more rubber hand balls do they now produce per day than before? O 59 O 30 O 20 Q 39 Quantity of rubber hnd hallsMatch each good with either "final good" or "intermediate good". Cowhide, purchased by a tanner, to be made into a belt for retail sale [Choose ] intermediate good final good A new guitar sold by a music store to a child learning to play [Choose ] intermediate good final good A ton of steel that will be used to make several new cars [Choose ] intermediate good final good A new car sold to a nice old lady who only drives it to church on Sundays [Choose ] intermediate good final good Flour used by a pizza restaurant to make a pizza [Choose ] intermediate good final good Cement purchased by a homeowner to repair a sidewalk [Choose ] intermediate good final good Cement purchased by a contractor to build a sidewalk for a new house [Choose ] intermediate good final good A pizza oven used by a restaurant to make pizza [Choose ] intermediate good final goodSuppose that United States produces 10,000,000 barrels of oil and 1,000 bushels of wheat each week. Suppose that China produces 14329 barrels 14329 barrels of oil and 14329 bushels 14329 bushels of wheat each week. In autarky, what is the largest amount of wheat United States can consume every week? amount of wheat per week:___________ bushels What does the term autarky refer to? a. a major argument against globalization b. a situation where one country does not engage in trade with other c. countries d. the process of negotiating terms of trade between two countries e. government policies meant to reduce international trade
- Homework (Ch 02) Suppose South Africa produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for alfalfa, an agricultural good, and industrial robots, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of an immigration law that results in fewer workers entering the country. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. 300 PPF 250 200 150 100 O RIAL ROBOTS (Thousands) O ISMARTPHONES (Millions) 40 20 0 PPF 0 40 60 CORN (Millions of bushels) Which of the following is true regarding this economic model? O In order to construct such a model, an economist would need real life data regarding countries that produce only two goods. O The fact that there are only two goods produced in this theoretical economy, when, in reality, economies produce many more types of goods, means this model is generally useless. O This PPF is not an economic model. O The fact that there are only two goods produced in this theoretical economy is a simplifying assumption that still allows economists to demonstrate key economic concepts. 20 80 100Farm-A and Farm-B grow the following amounts of potatoes and cabbage in their famrs: Farm-A takes one week to produce 101 units of potatoes and 207 units of cabbages Farm-B takes one week to produce 127 units of potatoes and 169 units of cabbages a) What is the opportunity cost of Farm-A to produce 20 units if cabbages Give your answer in 2 decimal places b) What is the opportunity cost of Farm-B to produce 12 units of potatoes Give your answer in 2 decimal places
- Bus Econ 4.7.39 Question Help O An economy i s based on three sectors, agriculture, manufacturing, and energy. Production of a dollar's worth of agriculture requires inputs of $0.30 from agriculture, $0.30 from manufacturing, and $0.20 from energy. Production of a dollar's worth of manufacturing requires inputs of $0.20 from agriculture, $0.20 from manufacturing, and $0.30 from energy. Production of a dollar's worth of energy requires inputs of $0.30 from agriculture, $0.40from manufacturing, and $0.30 from energy. Find the output for each sector that is needed to satisfy a final demand of $56 billion for agriculture, $43 billion for manufacturing, and $42 billion for energy. The output of the agricultural sector is billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.)You have a field on which you can grow two types of crops, barley and wheat. The field has 30 acres and each acre can produce 2 wheat or 3 barley. Suppose you are producing 60 barley and it is economically efficient for you to do so. How much wheat are you producing? 5 wheat 10 wheat 15 wheat 20 wheatKeep the Highest / 1 4. Shifts in production possibilities Suppose Spain produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for alfalfa, an agricultural good, and locomotives, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a breakout of avian flu that sickens millions of workers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. 420 350 PPF 280 210 140 70 PPF 40 80 120 160 200 240 ALFALFA (Millions of bushels) LOCOMOTIVES (Tho us ands).