- True/False Factor endowments represents the extent to which a country is endowed with resources such as land, labor, and capital. True False
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- In a mixed-market economy a restaurant decides to stop selling burgers. This is an example of O Normative Analysis O Active but Limited Government O Freedom of Enterprise O Private Property4. The table below shows the total endowments of labour and capital in Germany andAustria, respectively.GermanyWorkers 100 Machines 20 Austria Workers 10Machines 4 Assess all the statements below and judge which of them is true and which is false.Provide a short justification for your assessment.According to the Heckscher-Ohlin model…a) …both countries are comparatively abundant in labour.b) …Austria is comparatively abundant in capital.c) …Germany exports should be in goods that use either labour or capital, depending on thegood.d) …Germany exports should be in goods that intensively use labour in production.e) …Austria will lose from trade, since it has both much less labour and capital endowment.openvellu mathxl.com/Student/PlayerHomework.aspx?homeworkld=611294898&questionld 1Gmail ITMG 1B Econ 2100 三 Homework: Basics ... Question 10, 1.1 Questio... く onomic If Arif can make 20 pizzas or 10 cakes in one day, the opportunity cost of O A. 1 pizza is half a cake. O B. 2 pizzas is 2 cakes. O C. 2 pizzas is 4 cakes. O D. 1 pizza is 2 cakes. O E. one half a pizza is 2 cakes. st
- An emerging country is defined as a country that becomes more engaged with global markets as it grows while it is transitioning from a low income, less developed, often pre-industrial economy towards a modern industrial economy with high production and higher standard of living. If this country's economic growth, results in more negative impact on environment, which of the followings best describes the contribution of income size of the economy on environment. Income effect dominates the size effect. O Size effect dominates Income effect. Both Income effect and size effect have the same effect. O The relation is not definable. None of the aboveThe cost of having more capital and being more productive in the future is reduced consumption in the current period. O private O marginal O opportunity socialThe countries with the highest mean incomes are also the countries with the highest O savings to income ratios O apital to labor ratios capital to savings ratios O labor to capital ratios
- Brazil is building new factories in using new technology. this is an example of investing in which factor of productionUse the below graph to answer the question: Output per labour Production D function 3 Production function 2 B Production function 1 A E Capital per labour Which of the following events will lead the economy to move from point A to E? O a. A permanent increase in soil salinity levels which reduces agricultural output. O b.A drop in export demand. C. Some infrastructure is destroyed by an earthquake. O d. An increase in income tax. O e. The retirement of unproductive machines.QUESTION 4 Capital per year K₂ Figure 7.3.2 4₂ L₂ C₁ Labor per year Refer to Figure 7.3.2 above. Which of the following changes, which causes the move from A to B? O a. The quantity to be produced Ob. A decrease in the cost of capital r Oc. The budget of the producer d. A decrease in the wage rate w
- 2) Assume that Mexico has a higher labor-to-capital ratio than the United States, leaving the United States mostly endowed with capital relative to Mexico. Assume also that clothing is labor-intensive in production relative to autos. a. Use the factor endowment theory framework to label the two transformation schedules below, indicating which one represents Mexico and which one the United States. Qeioting Relothing Qauios autos b. Assuming similar tastes or preferences as reflected in the two indifference curves shown in part a, draw the pre-trade price line for each country. Which one is steeper? What does this mean? In which country are autos relatively more expensive? 3.Which of the following is an example of capital deepening? O A. Doctors use more sophisticated ultrasound and MRI machines for better diagnosis OB. Streaming technologies have improved in the last few years O C. Cars now have more safety features ○ D. More private companies are developing technologies for space exploration and research.Identify the type of central economic problem that is related to problem of choice of what to produce in a country. O a. Full utilization of resources. O b. What goods and services ought to be produced and how much to produce? O c. How to attain economic growth? O d. How to distribute these goods and services?