Motorcycles TMotorcycles PPC in Japan PPC in Vietnam IM E Rce In reference to the above graph, suppose Vietnam and Japan are producing and consuming at points A and D, respectively. If they agree on the price shown on the graph (the slope of the tagent line), then Vietnam would move its production to point O a. B O b.G O C. H Od. Chooses to stay at point A.
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- Home's import demand curve (shown on the graph to the right) for wheat is QMD 80-40P. Foreign's demand curve is Foreign's supply curve is D=80-20P. S-40+20P. 1) Using the line drawing tool, accurately graph Foreign's export supply curve. Label the curve 'EX 2) Using the point drawing tool, assuming free trade between the countries at zero transportation cost, indicate on the graph the world price of wheat and the volume of trade. Label the point Ea Carefully follow the instructions above and only draw the required objects. What would the price of wheat be in the absence of trade? $(Round your answer to the nearest penny) 3- 04 0 Price, P EX 120 MD 10 20 30 40 50 60 70 80 90 100 Quantity, Q 3Motorcycles IH+HB AH+HJ O IH+HJ PPC in Vietnam O AH+HB Rice Motorcycles E In reference to the above graph, suppose Vietnam and Japan are producing and consuming at points A and D, respectively. If they agree on the price shown on the graph as the line GB, then Vietnam's total production of rice will be PPC in Japan ROR,PRODUCT PER WORKER SOUTH AFRICA NIGERIA TABLES 100 UNITS 40 UNITS CHAIRS 50 UNITS 10 UNITS Calculate the opportunity costs of producing tables in South Africaand in Nigeria. Show your calculations. Which country has an absolute advantage in the production of tables?Justify your answer. Explain which product each of the countries should specialise in andexport. Use the information relating to comparative advantage tosupport your answer.
- Suppose the United States has a comparative advantage over Mexico in producing pork. The principle of comparative advantage asserts that the United States should produce more pork than what it requires and export some of it to Mexico O Mexico has nothing to gain from importing United States pork O the United States should refrain altogether from producing pork and import all of what it requires from Mexico O the United States should produce a moderate quantity of pork and import the remainder of what it requires from Mexico NextIf all countries follow a policy of free trade, economists predict that O a. each country will export goods at which it has a comparative advantage at producing and import goods at which it has a comparative disadvantage at producing Ob each country will export goods at which it has a comparative disadvantage at producing and import goods at which it has a comparative advantage at producing Oc there will be no trade between countries - that is, no international trade taking place Od rich countries will be made poorer by trade with poor countries O e. poor countries will be made even poorer by trade with rich countriesUse the information in the table below to answer the following question: Which of the following is true? per unit of Labor: U.S Production Argentina 20 Whe at 300 Beef 100 20 a) The United States has an absolute advantage in the production of Wheat. O b) The United States does not have an absolute advantage in any commodity. c) Argentina has an absolute advantage in the production of Wheat. d) Argentina has an absolute advantage in the production of Beef.
- Question 1A. Define and explain the theory of comparative advantage (use an example ifnecessary).B. Discuss limitations of comparative advantage (Include in your answer at leastfive key limitations to this theory).C. Spencer Grant is a New York-based investor. He has been closely following hisinvestment in 100 shares of Vaniteux, a French firm that went public in Februaryof 2010. When he purchased his 100 shares at €17.25 per share, the euro wastrading at $1.360/€. Currently, the share is trading at €28.33 per share, and thedollar has fallen to $1.4170/€.a If Spencer sells his shares today, what percentage change in the share pricewould he receive?What is the percentage change in the value of euro versus the dollar overthis same period?What would be the total return Spencer would earn on his shares if he soldthem at these rates?France exports wine and imports beef. Suppose that French wine becomes more fashionable globally and, hence, the price of wine relative to the price of beef increases in world markets. Then: Select one: a. French exports of wine will increase, French consumption of wine will decrease and French imports of beef will increase b. French exports of wine will increase, French consumption of wine will increase and French imports of beef will decrease Oc. French exports of wine will increase, French consumption of wine will increase and French imports of beef will increase d. French exports of wine will increase, French consumption of wine will decrease and French imports of beef will decreaseBrazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40 pounds of beef or 30 autos. Which country has the absolute advantage in beef? Which country has the absolute advantage in producingautos?WhatistheopportunitycostofproducingonepoundofbeefinBrazil?Whatistheopportunitycost of producing one pound of beef in the United States?
- Canada exports canola oil to Japan. Therefore, Japan must have the comparative advantage in the production of canola oil, and its autarkic price is higher than the free trade price. O Japan must have the comparative advantage in the production of canola oil, and its autarkic price is lower than the free trade price. Canada must have the comparative advantage in the production of canola oil, and its autarkic price is higher than the free trade price. Canada must have the comparative advantage in the production of canola oil, and its autarkic price is lower than the free trade price.↳ A Click Submit to complete this assessment. Question 33 What insights do welfare analysis (consumer surplus/producer surplus) offer into international trade? O a. That trade increases the welfare of producers, so trade may make total surplus fall. O b. That tariffs make a country better off and trade wars can definitely be won! Oc. That nations are better off NOT trading with each other, because lower world prices harm most nations' producers and consumers. Od. That while trade increases total surplus, consumers or producers in a country may gain or lose, depending on world price. A Click Submit to complete this assessment. tab caps lock shift fn 1 Q 2 A W Z I 3 S E X S D R C F T V G H B J N KGlacier has a comparative advantage in the production of a comparative advantage in the production of Congaree specialize in the production of the goods in which each After specialization, the two countries can produce a total of and million pounds of basil. Suppose that Glacier and Congaree agree to trade. Each country focuses its resources on producing only the good in which it has a comparative advantage. The countries decide to exchange 16 million pounds of corn for 16 million pounds of basil. This ratio of goods is known as the price of trade between Glacier and Congaree. The following graph shows the same PPF for Glacier as before, as well as its initial consumption at point A. Place a black point (plus symbol) on the graph to indicate Glacier's consumption after trade. Note: Dashed drop lines will automatically extend to both axes. BASIL (Millions of pounds) 64 56 BASIL (Millions of pounds) 48 40 32 24 16 8 0 64 56 40 0 48 PPF 24 8 PPF 0 8 0 16 The following graph shows the same…