Mathematics, 24.06.2019 21:00, BECKX2510
According to the wall street journal (august 30, 2007, “in the balance”), it takes about 30 hours to assemble a vehicle in the united states. let’s use that fact plus a few invented numbers to sum up the global division of labor in auto manufacturing. in international economics, “north” is shorthand for the high-tech developed countries of east asia, north america, and western europe, while “south” is shorthand for the rest of the world. let’s use that shorthand here. (in the north it takes 30 hours to make one high-quality care and 20 hours to make one low-quality car. in the south it takes 60 hours to make one high-quality care and 30 hours to make one low-quality car.) which region has an absolute advantage at producing high-quality cars? * a. north b. southwhich country has an absolute advantage at producing low-quality cars? * a. north b. southwhich country has a comparative advantage for producing low-quality cars? * a. north b. southwhich country has a comparative advantage for producing high-quality cars? * a. north b. souththere are 1 million hours of labor available for making cars in the north, and another 1 million hours of labor available for making cars in the south. in a no-trade world, let’s assume that two-thirds of the auto industry labor in each region is used to make high-quality cars and one-third is used to make low-quality cars. what will be the global output of low-quality cars? * a. 17,253 b. 22,222 c. 11,111 d. 27,778 e. none of the above. now, allow specialization. if each region completely specializes in the type of car in which it holds the comparative advantage, what will be the global output of low-quality cars? * a. 11,111 b. 22,222 c. 33,333 d. 44,444 e. none of the above.
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