PLEASE HELP! THIS IS URGENT!!!
An American worker can produce either 4 cars or 8 tons of grain a year. A Japanese worker can produce either 4 cars or 5 tons of grain a year. To keep things simple, assume that each country has 100 million workers.
Complete the following table with the number of workers needed to make one car or 1 ton of grain in the United States and Japan.
Workers Needed to Make
1 Car 1 Ton of Grain
United States drop 1: 1/8th, 1/5th, 1/4th, 4, 5, 8 drop 2: 1/8th, 1/5th, 1/4th, 4, 5, 8
Japan drop 1: 1/8th, 1/5th, 1/4th, 4, 5, 8 drop 2: 1/8th, 1/5th, 1/4th, 4, 5, 8
Use the blue line (circle symbol) to graph the production possibilities frontier for the American economy. Then use the green line (triangle symbol) to graph the production possibilities frontier for the Japanese economy.
Complete the following table by determining the opportunity cost of a car and of a ton of grain for both the United States and Japan. Opportunity Cost of
1 Car 1 Ton of Grain
(In terms of tons of grain given up) (In terms of cars given up)
United States drop 1: 1/4th, 1/2, 2, 8 drop 2: 1/8th, 1/2, 2, 4
Japan drop 1: 1/4, 1/5, 1 and 1/4, 5 drop 2: 1/5, 4/5, 1 and 1/4, 4
Given this information,__(The US, Japan, or nether countrys)___ has an absolute advantage in producing cars, and__(The US, Japan, or nether countrys)___ has an absolute advantage in producing grain.
Also, (The US, Japan, or nether countrys) has a comparative advantage in producing cars, and (The US, Japan, or nether countrys) has a comparative advantage in producing grain.
Assume that without trade, half of each country's workers produce cars and half produce grain.
Complete the following table with the quantities of cars produced and consumed in each country if there is no trade.
Cars Produced and Consumed Tons of Grain Produced and Consumed
(Millions) (Millions)
United States Fill in the blank x2
Japan Fill in the blank x2
True or False: Both countries would be better off if they produced the good in which they have a comparative advantage and then traded 300 million tons of grain for 200 million cars.
True
False
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 20:30, johnisawesome999
Licensing is perhaps the easiest method of entering into international trade. another method of entering international trade, which can be relatively low risk, is which opens several levels of involvement to company
Answers: 2
Business, 22.06.2019 23:30, ameliaxbowen7
Rate of return douglas keel, a financial analyst for orange industries, wishes to estimate the rate of return for two similar-risk investments, x and y. douglas's research indicates that the immediate past returns will serve as reasonable estimates of future returns. a year earlier, investment x had a market value of $27 comma 000; and investment y had a market value of $46 comma 000. during the year, investment x generated cash flow of $2 comma 025 and investment y generated cash flow of $ 6 comma 770. the current market values of investments x and y are $28 comma 582 and $46 comma 000, respectively. a. calculate the expected rate of return on investments x and y using the most recent year's data. b. assuming that the two investments are equally risky, which one should douglas recommend? why?
Answers: 1
Business, 23.06.2019 00:10, 201010399
Many years ago, sprint telecommunications aired an advertisement intended to demonstrate the clarity of reception sprint customers could expect. the ad showed a rancher, who had used a different company, complaining that he had ordered 100 oxen from his supplier and instead received 100 dachshunds. the mix-up was probably due to the presence of in the communication process.
Answers: 3
Do you know the correct answer?
PLEASE HELP! THIS IS URGENT!!!
An American worker can produce either 4 cars or 8 tons of grain a y...
Questions in other subjects:
Mathematics, 21.09.2019 19:00
Mathematics, 21.09.2019 19:00
Chemistry, 21.09.2019 19:00
Mathematics, 21.09.2019 19:00
