If the United States could produce five televisions per hour of labor and China could produce three televisions per hour of labor, would it necessarily follow that the United States should specialize in television production? Why or why not?
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If the United States could produce five televisions per hour of labor and China could produce three televisions per hour of labor, would it necessarily follow that the United States should specialize in television production? Why or why not?
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- Suppose that Country A and Country B can produce the following numbers of Chairs and Printers per worker per day. Which of the following is true? Country A Country B 25 Chairs 10 Printers 4 Country B has Absolute Advantage (in both products), and Country A has Comparative Advantage in Printers. Country A has Absolute Advantage (in both products), and Country B has Comparative Advantage in Printers. Country A has Absolute Advantage (in both products), and Country A has Comparative Advantage in Printers. Country B has Absolute Advantage (in both products), and Country B has Comparative Advantage in Printers.Assuming that there are only two countries in the world, Indonesia and ROW (Rest of the World) which both produce Cloth (C) and Food (F) using labor as factor production. The following table shows the number of hours of work needed to produce one unit of C and F in both countries: Cloth (C) Food (F) Indonesia 1 hour per meter 2 hour per kg ROW 6 hour per meter 3 hour per kg Please answer the followings: a. If we use the Smithian Absolute advantage, can both countries gain? Why? b. Eventually, these countries can still trade, please explain c. Please show the gains from trade for producers and consumers in both countries d. Can we see a catching up (factor price) pattern for both countries?According to researcher Richard Vedder, only 21 cents of every added dollar that universities have spent over the past twenty-five years has gone to student instruction. Where did the other 79 cents go? If you are an undergraduate today, what tangible benefits of these increased university resources can you see around you? If it would be cheaper to give each steelworker $375,000 per year in cash than impose restrictions on imports of steel, why do we have the import restrictions rather than the cash payments? Who gains and who loses from import restrictions?
- Assuming that there are only two countries in the world, Indonesia and ROW (Rest of the World) which both produce Cloth (C) and Food (F) using labor as factor production. The following table shows the number of hours of work needed to produce one unit of C and F in both countries: Cloth (C) Food (F) Indonesia 1 hour per meter 2 hour per kg ROW 6 hour per meter 3 hour per kg"Accoring to Ricardo's analysis, a country exports any good whose production requires fewer labor hours per unit than the labor hours per unit needed to produce the good in the foreign country. That is, the country exports any good in which its labor producivity is higher than the labor productivity for this good in the foreign country." Do you agree or disagree? why?If a country can produce more of a good than other countries with a given amount of resources, we say that country has the| [ Select ] and if a country has less to lose in producing a good than other countries do, we say that country has [ Select ]
- Suppose there exist two imaginary countries, Congaree and Yosemite. Their labor forces are each capable of supplying four million hours per week that can be used to produce almonds, shorts, or some combination of the two. The following table shows the amount of almonds or shorts that can be produced by one hour of labor.The table from the image provided shows the ability of two countries to produce TVs and chairs in a given time period. What can be concluded from the information?  (Pick either a,b,c, or d) a) Country X has an absolute advantage in TVs and country Y has an absolute advantage in chairs b) Country X has a comparative advantage in TVs and country Y has an absolute advantage in chairs c) Country X has a comparative advantage in chairs and country Y has an absolute advantage in TVs d) Country X has an absolute advantage in TVs and country Y has a comparative advantage in chairsjust answer part c and d please thank you :) Assuming that there are only two countries in the world, Indonesia and ROW (Rest of the World) which both produce Cloth (C) and Food (F) using labor as factor production. The following table shows the number of hours of work needed to produce one unit of C and F in both countries: Cloth (C) Food (F) Indonesia 1 hour per meter 2 hour per kg ROW 6 hour per meter 3 hour per kg Please answer the followings: a. If we use the Smithian Absolute advantage, can both countries gain? Why? b. Eventually, these countries can still trade, please explain c. Please show the gains from trade for producers and consumers in both countries d. Can we see a catching up (factor price) pattern for both countries?
- Questions 1-8. Use the information in the following table on labor productivities (output per hour) in France and Germany to answer the following questions. Output per hour cheese Wine Labor Endowment O Cheese only O Wine only 1. Which good does France have an absolute advantage in? Both cheese and wine France 2 kg 2.5 bottle 100 hours ONeither cheese nor wine Germany 1 kg 5 bottles 100 hoursQuestion 1/1 What do you know about globalization? Using the thinking map below, connect words that you can associate to this concept? [Your expression must be based on your own prior knowledge...]In the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. Show by way of calculations: a) The United States has absolute advantage in the production of? b) The United Kingdom has a comparative in the production of? c) If trade occurs between the United States and the United Kingdom, American firms will specialize in the production of?