Suppose that Canada produces two goods: lumber (y) and fish (x). It has 18 million workers, each of whom can cut 10 feet of lumber or catch 20 fish each day.       a. The maximum amount of lumber Canada could produce in a day is Blank 1 million feet of lumber. b. The maximum amount of fish it could produce in a day is Blank 2 million fish.

Suppose that in the United States, the opportunity cost of producing a motor engine is 4 auto bodies. In Canada, the opportunity cost of producing a motor engine is 2 auto bodies. a. What is the opportunity cost of producing an auto body for the United States? b. What is the opportunity cost of producing an auto body for Canada? c. Which country has a comparative advantage in the production of auto bodies? d. Which country has a comparative advantage in the production of motor engines? Blank 1 Blank 1

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Consider a simple exchange economy with two people: Bob and Jake. Bob and Jake both have 10 hours of time available. They can use their time to do one of 2 things: make pancakes or make hamburgers. Bob can make 2 hamburgers in an hour or 1 pancake in an hour. Jake can make 3 pancakes in an hour and 2 hamburgers in an hour. Use this information to answer the following question:  Who has comparative advantage in the production of hamburgers and who has comparative advantage in the production of pancakes?

1. James and Lisa can grow the following units of produce in a period of time: Tomatoes 180 150 James Lisa Peppers 45 50 a. Explain who has absolute advantage in producing each good. b. Calculate the opportunity cost for each producer and each good. c. Explain who has comparative advantage in producing each good.

Use the Table below to answer Question 7: Imports Exports $2,132,000 $1,876,000 Capital per million dollars Labor (person-years) per million dollars Capital-labor ratio (dollars per worker) Average years of education per worker Proportion of engineers and scientists in work force 119 131 $17,916 $14,321 9.9 10.1 0.0189 0.0255 Source: Robert Baldwin, "Determinants of the Commodity Structure of U.S. Trade," American Economic Review 61 (March 1971), pp. 126–145. The above table illustrates factor content of U.S. exports and imports for 1962. Which of the following statement is true according to the above table? A. There is evidence supporting the Heckscher-Ohlin model. B. It shows that U.S. exports were more capital intensive than its imports. C. It shows that U.S. is a capital abundant country. D. It shows that the U.S. produces outside its PPF. E. None of the above is true. 7.

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 ]

I don't understand the second part of this homework. If Frankie and Johnny completely specialize according to comparative advantage, what will happen to the amount of eggs and milk? I have the opportunity cost calculated to understand who should do what in this case. But what will I do to that number?

calculate the opportunity cost of cotton for country A and country B