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- Consider the following Ricardian model with 2 countries and 2 goods. The table below provides information on the size of countries' labor force and their productivity in producing each good. India China 350 60 Labor Supply workers workers Juice 3 workers 7 workers Тea 2 workers 5 workers What country has absolute advantage in producing juice? Why? What country has comparative advantage in producing juice? Why? Edit View Insert Format Tools Table 12pt v Paragraph v B I U Av 2 ...Table 33.15 shows how the average costs of production for semiconductors (the chips In computer memories) change as the quantity of semiconductors built at that factory increases. Based on these data, sketch a curve with quantity produced on the horizontal axis and average cost of production on the vertical axis. How does the curve illustrate economies of scale? If the equilibrium quantity of semiconductors demanded is 90,000, can this economy take full advantage of economies of scale? What about if quantity demanded is 70,000 semiconductors? 50,000 semiconductors? 30,000 semiconductors? Explain how international trade could make it possible for even a small economy to take full advantage of economies of scale, while also benefiting from competition and the variety offered by several producers.The following diagram is for Country A based on the Ricardo model. Wheat (millions) 30 Terms of Trade E 15 PPF Corn 25 30 50 (millions) Refer to the figure above. Imports of this country equal_ O 25 million corns O 50 million corns O 15 million wheat O 30 million wheat
- If Texia specializes in food, it can produce 1,000 units of food and 0 units of clethingg this year If it specializes in clothing, it can produce 500 units of clothing and O units of food. This year Urbania can produce either 500 units of food and O units of clothing or 200 units of cleth and O units of food. (assume linear production possibility frontiers) has the comparative advantage in the production of clothing and comparative advantage in the production of food. has the Urbania; Texia O Texia; Texia Urbania; Urbania Texia; UrbaniaConsider the following Ricardian model with 2 countries and 2 goods. The table below provides information on the size of countries' labor force and their productivity in producing each good. India China 60 Labor Supply 350 workers workers Juice 3 workers 7 workers Tea 2 workers 5 workers Suppose Indian workers become three times more productive in producing juice. Does the pattern of trade change? Why and why not? Edit View Insert Format Tools Table 12pt v Paragraph v B I1.3 Using the gravity model calculate the value of trade between country I and J. You can assume: a=b=0.9, c=0.8 and A=0.5The GDP for country I is triple the GDP of country J. Country J GDP is equal to the product of the trading value of all developed countries listed in the given table. The distance between these countries is 28 km.
- 10:28 PM O Additional Activities Q1_Week 5- Effects of Globalization and Interconnectedness of People and Nations.pdf A. Explain the benefits of collaboration and cooperation in the activity; "wall climbing"; no tools nor harness were used; just the body to run over the wall. Relate it to the definition of a network. B. The learner locates on a map the workplaces of the OFWS in their cornmunity and writes a reflection naner n the effects of labor migration to tbeir community in relation to GlohalizationProduction Advantage and Opportunity CostsAssume there are two countries, the United States and France, and two goods, automobiles andcomputers.The table presented below shows the number of automobiles and computers that the United States andFrance can produce with the same amount of resources.United States FranceAutomobiles 120 100Computers 60 55Source: Pearson Education Inc. 1.1 Which country has an absolute advantage in computer production? Motivate your answer.1.2 Which country has a comparative advantage in the production of automobiles? Motivateyour answer. 1.3 Assume these countries trade with one another under the conditions of free trade. Whichcountry will specialise in the production of automobiles? Motivate your answer. 1.4 If free trade exists between the United States and France, what are the highest and lowestlevels for the price of an automobile (expressed in terms of computers)? Motivate youranswer by stating which level favours the United States and France.1.Suppose we have the following information about the productivity of industry inJapan and Korea. The data are the units of output per hour of work.Steel TelevisionsJapan 6 3Korea 8 2A Japanese worker can produce 6 units of steel or 3 televisions per hour. A Korean workercan produce 8 units of steel or 2 televisions per hour. Plot the production possibilities frontierfor each country, assuming each country has only one worker and the worker works only onehour. To plot the frontier, plot the end points and connect them with a line. For example, Japancan produce 6 units of steel with its worker or 3 televisions. It can also allocate 1/2 hour to the production of each and get 3 units of steel and 1 1/2 televisions. a) What is the range of prices at which each country would be willing to exchange?
- scenario Production Advantage and Opportunity CostsAssume there are two countries, the United States and France, and two goods, automobiles andcomputers.The table presented below shows the number of automobiles and computers that the United States andFrance can produce with the same amount of resources.United States FranceAutomobiles 120 100Computers 60 55Source: Pearson Education Inc. 1.1 Which country has an absolute advantage in computer production? Motivate your answer.1.2 Which country has a comparative advantage in the production of automobiles? Motivateyour answer. 1.3 Assume these countries trade with one another under the conditions of free trade. Whichcountry will specialise in the production of automobiles? Motivate your answer. 1.4 If free trade exists between the United States and France, what are the highest and lowestlevels for the price of an automobile (expressed in terms of computers)? Motivate youranswer by stating which level favours the United States and France.Intellectual property and patent laws vary greatly in developing countries. How wouldyou propose to protect your products in a developing country with a large populationwhere the CEO of a generic pharmaceutical manufacturer states: “The U.S. wouldgrant a patent on a piece of toilet paper. Just because the U.S. granted a patent doesn’tmean it should be valid in our country.”42. In Canada, one labour hour can produce 6 bagels or 24 chairs In the United States, one comparative advantage in deciding what to produce and trade with Canada at a trade price abour hour can produce 14 bagels or 19 chairs. Suppose the United Stateates, one come chairs per bagel. For every, 36 units of the goods the United States produces an trade, what is the gains from trade in terms of the other goods? Answer: Units. IDO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER ENTER YOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES, AND NO SEPARATOR FOR THOUSANDS).