Mexico and the U.S. can produce both shirts and computers as described in following table and displayed in plot.       Mexico   US   Shirts   Computers   Shirts   Computers   Devote all resources to producing shirts   12   0   16   0   Devote all resources to producing computers   0   4   0   16         image.png     1. Fill in blanks. Mexico’s opportunity cost of producing 1 computer is shirts. The US’s opportunity cost of producing 1 computer is shirts.   2. Choose answer to fill in blank. The US has a comparative advantage in producing (shirts/computers).   3. Fill in blanks. The straight-line PPFs reveal (constant/increasing/decreasing) opportunity costs of production implying there (are/are not) diminishing returns to production.   4. Fill in blanks. Assume in autarky Mexico consumes 2 computers and the U.S. consumes 6 shirts. This implies that in autarky, Mexico consumes shirts and the US consumes computers.   5. If trade occurs at 2 shirts for every computer, and Mexico trades 6 shirts to the US, the US will provide computers in return. This implies Mexico will consume a total of shirts and computers, while the US will consume shirts and computers.   6. Fill in the blanks with the relevant numbers. B =  , C =  , D =  , E =  , F =  , G = , H = , I =  , J = , K =  .

Question 10 This information applies to questions 10-13: Table 1 Output per Worker per hour Country Wheat Corn Paraguay 12 3 Bolivia 4 Based on Table 1, the opportunity cost of wheat in Paraguay is 4 units of corn. one-half unit of corn two units of corn O one-fourth unit of corn.

Need help with micro multiple choice question

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1. The following figures represent the amount that can be produced with a fixed amount of factor inputs.   Sugar (tons) Cars Cuba 40 10 Mexico 50 100 1. Which country has an absolute advantage in sugar?  Mexico 2. Which country has an absolute advantage in cars?   3. What is Cuba’s opportunity cost for producing one car? 4. Which country has a comparative advantage in cars? 5. Which country has a comparative advantage in sugar? 6. For both countries to benefit from trade, how much sugar can be traded for each car?  1 Car for “X” Sugar 1. The following figures represent the amount that can be produced with a fixed amount of factor inputs.

31.If it takes one country one unit of labor to produce either a computer or a TV but it takes the other country three units of labor to produce a computer and four to produce a TV, then the first country has A)a comparative advantage in both goods. B)an absolute advantage in TVs but a comparative advantage in computers. C)an absolute advantage in TVs and computers but a comparative advantage in computers only. D)an absolute advantage in TVs and computers but a comparative advantage in TVs only. 32.If it takes one country two units of labor to produce a computer and three units of labor to produce  a TV but it takes the other country three units of labor to produce a computer and four to produce a TV, then the first country has A)a comparative advantage in both goods. B)an absolute advantage in TVs but a comparative advantage in computers. C)an absolute advantage in TVs and computers but a comparative advantage in computers only. D)an absolute advantage in TVs…

Output per Hour Worked    United States Mexico Computers (unit) 3 1 Shoes (pairs) 6 3 Based on the above table, if the world price of computers is four pairs of shoes, then the optimal strategy for each country would be a) for Mexico to specialize in shoes, and the United States in computers. b) for the United States to specialize in shoes, and Mexico in computers. c) to specialize in computers. d) to specialize in shoes.

Figure 2.2. Canadian Trade Possibilities Televisions 16 12 8 4 0 Canada's Transformation Schedule Televisions 8 12 International Terms of Trade Refrigerators Televisions and refrigerators Neither televisions nor refrigerators с 16 20 B 24 Figure 2.2 shows a straight-line production possibilities curve with televisions on the vertical axis and refrigerators on the horizontal axis for Canada. The intercept on the vertical axis equals 16 and on the horizontal axis equals 24. Point A shows a point where an indifference curve is tangent to the production possibilities curve where televisions on the vertical axis equal 8 and refrigerators on the horizontal axis equal 12. A downward sloping straight line representing the international terms of trade starts at a point where refrigerators equal 24; an indifference curve is tangent to this line at a point where televisions equal 12 and refrigerators equal 16. Referring to Figure 2.2, Canada has a comparative advantage in: Refrigerators

Microchips 90 U.S. PPF Which country has comparative advantage in the production of Microchips? Which country has comparative advantage in the production of Brooms? Which country has absolute advantage in the production of Microchips? Which country has absolute advantage in the production of Brooms? Microchips Brooms [Choose ] [Choose ] [Choose ] [Choose ] 10 MEXICO PPF Brooms

Points A and B on the Combined graph represent Malaysia's and Canada's production, and the red point shows the combined production of the two countries. Which of the following is a correct interpretation of points A and B? multiple choice 1Each country is using all of its resources.Malaysia is using a higher percentage of resources than Canada.Canada is using a higher percentage of resources than Malaysia.Both countries have unused resources that could increase production without a tradeoff.