4. ‘The world’s poorest countries cannot find anything to export. There is no resource that is abundant, certainly not capital or land, and in small poor nations such as Guatemala, not even labour is abundant.’ Discuss (assume Guatemala is the poor country and United states is the rich country)
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4. ‘The world’s poorest countries cannot find anything to export. There is no resource that
is abundant, certainly not capital or land, and in small poor nations such as Guatemala,
not even labour is abundant.’ Discuss (assume Guatemala is the poor country and
United states is the rich country)
Step by step
Solved in 4 steps
- Table 2-6 One Cell Phone Lumber (per board foot) Estonia 40 hours 8 hours Finland 16 hours 4 hours Table 2-6 shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland. Refer to Table 2-6. If the two countries specialize and trade, who should export cell phones? There is no basis for trade between the two countries. Estonia Finland They should both be importing cell phones.35. What are some benefits of international free trade? (Easy Question) Multiple Choice . . The U.S. consumer has more purchasing power with their dollars when they visit a store like WalMart or shop online with Amazon, since they get many of their goods from international sources. Lower prices, more consumer choice, more global output and increased wealth. Since the 1980's until today the increase in free trade has helped to lower global poverty. All of these reasons are benefits of international trade.7. Japanese labor productivity is roughly the same as that of the United States in the manufacturing sector (higher in some industries, lower in others), while the United States is still considerably more productive in the service sector. But most services are nontraded. Some analysts have argued that this poses a problem for the United States,because our comparative advantage lies in things we cannot sell on world markets.What is wrong with this argument?
- 6. Suppose Afghanistan and South Korea are countries that both produce coffee and tea which are sold for the same price. Below are various combinations the countries can produce using the same amount of capital and labour. Afghanistan South Korea Coffee Tea (Million (Million bags) bags) bags) 117 117 867 Tea (Million bags) Production and consumption before trade 67 (A) Consumption available after trade (B) 217 127 127 Table 1. A Table showing production in Afghanistan and South Korea Coffee (Million d. 1,017 a. Using the information above, draw a PPF (Production Possibilities Frontiers) curve for Afghanistan showing the production and consumption without trade and the production and consumption with trade (point A and B). b. Explain the concept of comparative advantage using your own words then based on the information above, calculate which country has a comparative advantage in coffee production and explain why you think the country has a comparative advantage in coffee production.…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) Cheese (ounces) France Italy 3 16 28 has an absolute advantage producing wine and has an absolute advantage producing cheese. has a comparative advantage producing cheese has a comparative advantage producing wine andAssume 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.
- 8. If a country has an absolute advantage for a specific good relative to a possible trading partner, it might be producing more of the good using resources than its trading partner. more imported more different the sameMAKE SURE TO DEFINE THESE WORDS AND EXPLAIN IT VERY WELL. -Economic Globalization -Cultural GlobalizationDone Homework 2 Part 2: Chapter 2 Questions (2 atte 0. (Table) Germany has a comparative advantage in producing: Skirts 12 20 Sweaters 6 Greece 4 Germany sweaters only. sweaters and skirts. skirts only. neither good.
- 8. Compare-discuss the economic development strategies and international trade for the following countries. As a tool, use the following table as a template. + Strategy Example Country Import I Solar Germany Substitution Energy Encourage Natural Russia export Gas Subsidize new NASA USA technology Boeing S. Korea India Subsidize education Control Population growth Labor Rights Environmental Regulations Currency USA France Germany Yuan China1. Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can produce 7,523 units of Food or 17,853 units of Fuel using a labour force of 8000. Japan can produce 5,733 units of Food or 24,156 units of Fuel using a labour force of 5000. a) Which country has the comparative advantage in food? In fuel? Explain. b) Which good(s) should each country specialize in? c) Discuss the benefits of specialization for each country.公。 云 * 00 T QUESTION 26 Consider the following table for Spain and France in which output for grapes and textiles are output per unit of input: spoo Grapes Spain France 8 15 Textiles France has absolute advantage in the production of 4. 5. (A: grapes; B: textiles; C: both grapes and textiles; D: neither grapes nor textiles. QUESTION 27 A great deal of international trade is (A: intra-industry trade; B: inter-industry trade; C: transshipment trade. QUESTION 28 Save All Answ MAR tv 082 MacBook Air 08 F2 F4 F5 F 7 F6 F8 F10 #3 2$ 2 ( 4. 9. 7. M. | S H.