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- Does intra-industry trade contradict the theory of comparative advantage?How do trade barriers affect the average Income level in an economy?Brazil can produce 100 pounds of beef or 10 autos. In contrast the United States can produce 40 pounds of beef or 30 autos. Which country has the absolute advantage in beef? Which country has the absolute advantage in producing autos? What is the opportunity cost of producing one pound of beef In Brazil? What is the opportunity cost of producing one pound of beef in the United States?
- In Germany it takes three workers to make one television and four workers to make one video camera. In Poland It takes six workers to make one television and 12 workers to make one video camera. Who has the absolute advantage in the production of televisions? Who has the absolute advantage in the production of video cameras? How can you tell? Calculate the opportunity cost of producing one additional television set in Germany and In Poland. (Your calculation may involve fractions, which Is tine.) Which country has a comparative advantage in the production of televisions? Calculate the opportunity cost of producing one video camera in Germany and in Poland. Which country has a comparative advantage in the production of video cameras? In this example, is absolute advantage the same as comparative advantage, or not? In what product should Germany specialize? In what product should Poland specialize?In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10 tons of rubber or 40 radios. a. Who has the absolute advantage in the production of rubber or radios? How can you tell? b. Calculate the opportunity cost of producing 80 additionalradiosinJapanandinMalaysia.(Your calculationmayinvolvefractions,whichisfine.) Which country has a comparative advantage in the production of radios? c. Calculate the opportunity cost of producing 10 additional tons of rubber in Japan and in Malaysia. Which country has a comparative advantage in producing rubber? d. In this example, does each country have an absoluteadvantageandacomparativeadvantage in the same good? e. InwhatproductshouldJapanspecialize?Inwhat product should Malaysia specialize?If a country produces more food and electronics than another country does it have a comparative advantage?
- Who has the comparative advantage in the production of good Y?What are 5 techniques to employ comparative advantage?Are the following staten1ents true or false? Explain ineach case.a. "1wo countries can achicv" gains from trade evenif one of the countries has an absolute advantagein the production of all goods."b. "Certain talented people have a comparativead\'antage in """'}'thing they do."c. "If a certain trade is good for one person, it can'tbe good for the other one.''d . ''If a certain trade is good for one person, it isalways good for the other one."e. "If trade is good for a country, it mLtSt be goodfor everyone in th" country."
- Are the following statemen ts true or false? Explain ineach case.a. ''1Wo countries can achieve gains from trade evenif one of the countries has an absolute advantagein the production of all goods."b. "Certain talented people have a comparativeadvantage in everything they do."c. ''U a certain trade is good for one person, it can'tbe good for the other one.''d. ''U a certain trade is good for one person, it isa lways good for the other o ne.''c . "U trade is good for a country, it must be goodfor everyone in the country.''nave a n ab je in bothi good because they both produce boots and shirts. 40- 38- 36- B. Neither country has an absolute advantage in both goods because the United States can produce more boots but Canada can produce more shirts. 34- 32- 30- 28- 26- 24- 22- 20- 18- 16- 14- 12- 10- 8- C. The United States has an absolute advantage in both goods because it can produce more boots and more shirts. PPFUS. D. Neither country has an absolute advantage in both goods because Canada can produce more boots but the United States can produce more shirts. O E. Canada has an absolute advantage in both goods because it can produce more boots and more shirts. US 6- Suppose initially that the United States is consuming 4 boots and 8 shirts and Canada is consuming 18 boots and 2 shirts, as indicated in the figure. Then, suppose the United States and Canada specialize by each only producing the good for which they have a comparative advantage and then trade. In particular, suppose the United States trades…Kayla can cook dinner in 30 minutes and wash thelaundry in 20 minutes. Her roommate takes twiceas long to do each task. How should the roommatesallocate the work?a. Kayla should do more of the cooking based onher comparative advantage.b. Kayla should do more of the washing based onher comparative advantage.c. Kayla should do more of the washing based onher absolute advantage.d. There are no gains from trade in this situation.
