The accompanying table gives how many pairs of skis and sleds Denmark and Iceland can produce using one day’s worth of labor. Country Skis Sleds Denmark 4 12 Iceland 3 6 Use the the table to answer the following questions Round your answers to two decimal places as needed. What is Denmark’s opportunity cost of producing a pair of skis?

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Even if neither country had a comparative advantage, why might these countries still experience gains from trade? simple plus example please

Below are hypothetical production possibilities tables for New Zealand and Spain. Each country can produce apples and plums. Referring to the tables, answer the following: Suppose the optimal product mixes before specialization and trade are alternative B in New Zealand and alternative S in Spain and the actual terms of trade are 1 plum for 2 apples. What will be the gains from specialization and trade?

Suppose Malaydia's production possibilities include a maximum of 150 units of rice and 250 units of lumber, and Canada's production possibilities include a maximum of 300 units of rice or 160 units of lumber. Then suppose each country initially allocates 50% of it's labor to producing each product. a. Total produxtion by the 2 countries equal of rice and lumber? b. Now suppose Malaysia increases the labor it allocates to kumber by 10%. Its lumber production rise by and it's rice production falls by. C. If Canada reallocates it's labor to increase its rice production by exactly the amount that Malaydia's rice production fell, by how much must it's lumber production fall? d. State the combines effects on total production of the reallocations in part b and c. Total production of rice changes by Total production of lumber changes by ____.

Productivity of beer and wine in Germany and Chile Germany Chile Beer(cases) 75 30 Wine (cases)75 60

From the book  "Power and Plenty: Trade, War, and the World Economy in the Second Millennium" by Ronald Findlay and Kevin H. O'Rourke (2007) and "A History of the Global Economy: From 1500 to the Present" by Joerg Baten (2016). Discuss how does education system shaped the economic foundations of nations and lead to the varying ability of countries to invest in proximate factors such as physical capital and human capital. (please include a bibliography)

Suppose that each country decides to specialize in the production of the good un which it has the comparative advantage. by specializing, what is the total world production of the car parts and aircraft parts?

Assume the table below shows the quantities of wine and cheese that a worker can produce in an hour in France and Italy. Wine (bottles) 9 4 has an absolute advantage producing wine and has a comparative advantage producing wine and France Italy has an absolute advantage producing cheese. Cheese (ounces) 19 29 has a comparative advantage producing cheese.

Hours of work necessary to produce one unit of cloth or wine is shown in the following table: Cloth Wine England 100 120 Portugal 90 80 Who has the comparative advantage in cloth, and who in wine? England, Portugal Portugal, England England, England Portugal, Portugal