(Figure: Comparative Advantage) Look at the figure Comparative Advantage. D. neither oranges nor peaches. Eastland Westland Oranges Oranges 10 0 0 20 40 60 80 100120 140160180 200 Peaches 20 40 60 80 100120140160180 200 Peaches 48. B ¼ unit of oranges. increasing opportunity cost. Look at the figure Comparative Advantage. C) dollar prices of labor. 19. Use the “ Comparative Advantage ” Figure 4-2. ____ 38. Figure: Comparative Advantage Westland has an absolute advantage in producing: A oranges only. Dr. Colgate is a dentist who employs an assistant, Ms. Crest. Figure: Comparative Advantage Eastland has a comparative advantage in producing: A oranges only. Westland has a comparative advantage in producing: Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. Eastland Eastland has a comparative advantage in producing: A) oranges only. 50. Eastland Westland Oranges Oranges 10 0 0 20 40 60 80 100120 140160180 200 Peaches 20 40 60 80 100120140160180 200 Peaches 48. 1. D neither oranges or peaches. A) has the absolute advantage in cooking. E. a combination of oranges and peaches. Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. C both oranges and peaches. Washington State University • ECONOMICS 101. The opportunity cost of producing 1 box of oranges for Westland is: B) peaches only. Course Hero is not sponsored or endorsed by any college or university. Use the following to answer questions 48-50: Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. If Jackson exports 120 units of wheat to Tahoe, Tahoe will export ________. B) peaches only. C) both oranges and peaches. b. a combination of oranges and peaches. c. 4 units of oranges. (Figure 4-2: Comparative Advantage) The opportunity cost of producing 1 unit of oranges for Eastland is: a. The opportunity cost of producing 1 box of . both oranges and peaches. | Mark and Julie are going to sell brownies and cookies for their third annual bake sale fund- raiser. © 2003-2021 Chegg Inc. All rights reserved. D neither oranges or peaches. 33. Privacy B) can produce less of all goods than another economy. Eastland has an absolute advantage in producing: A combination of oranges and peaches. has a comparative advantage in producing: A) oranges only. Westland has a comparative advantage in producing: Dr. Colgate is a dentist who employs an assistant, Ms. Crest. 37. peaches for Westland is _____ box(es) of oranges. The new regulations would require “STOP” sign labels on junk food to alert the consumer to stop and think before consuming the unhealthy food. Figure 4-2: Comparative Advantage. absolute advantage. Eastland has a comparative advantage in producing: oranges only. (Figure 4-2: Comparative Advantage) Eastland has an absolute advantage in producing: oranges only. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation’s production possibility curve for the two goods. Westland . B. peaches only. .Chile has recently proposed amendments to its Food Health Regulations. Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. free trade: A) the country will import wooden furniture. B)peaches only. 17. 49. D) 10 boxes of peaches. Look at the figure Comparative Advantage. Eastland has an absolute advantage in producing: A) oranges only. Terms possibility frontier for the two goods. 162. Figure 4-2: Comparative Advantage Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation's production possibility curve for the two goods. C) both oranges and peaches. In one day, Mark can make 40 brownies or 20 cookies and Julie can make 15 brownies or 15 cookies. Figure: Comparative Advantage Eastland has a comparative advantage in producing: A oranges only. d. both oranges and peaches. c. B ¼ unit of oranges. Comparative Advantage. ... Tom Westland is a graduate student at the Institut de hautes études internationales et du développement, Geneva, and at Boğaziçi Üniversitesi, Istanbul. C) has the largest production possibility frontier in cooking. The opportunity cost of producing 1 box of oranges for Westland is: A) 1 box of peaches. 1/4 unit of oranges. ____ 20. If she worked all day with. both oranges and peaches. Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production . (Figure: Comparative Advantage) Look at the figure Comparative Advantage. B) peaches only. C) both oranges and peaches. B) peaches only. C 4 units of oranges. D) neither oranges nor peaches. 17. she could answer 40 phone calls. producing: A) oranges only. Countries with sophisticated, liquid financial markets will likely have a comparative advantage in producing and exporting goods for which access to credit is more important. econ 1010 exam number midterm: february 2018 dr. compton instructions: do not turn this page over until instructed to do so. C. both oranges and peaches. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation's production possibility curve for the two goods. Westland has an absolute advantage in . B) peaches only. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. The concept of comparative advantage is based upon: A) absolute labor productivity. Westland has a comparative advantage in producing: (Figure: Comparative Advantage) Look at the figure Comparative Advantage. e. a combination of oranges and peaches. Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, ... and this figure shows each nation's production possibility frontier for the two goods. Figure: Comparative Advantage Westland has an absolute advantage in producing: A oranges only. A) 1 B) 0.25 C) 4 D) 10 A 40. a. Westland has a comparative advantage in producing: A) oranges only. Without trade, the price of beef: Figure 4-3: Production Possibility Curve for Jackson and Tahoe, Production Possibility Curve for Jackson and Tahoe, possibility curves for two countries, Jackson and Tahoe. Examine the figure Comparative Advantage. it: A) can produce more of all goods than another economy. neither oranges nor peaches. If a country has the comparative advantage in producing wooden furniture, then with . 1dph bbbbbbbbbbbbbbbbbbbbbbbb &odvv bbbbbbbbbbbbbbbbbbb 'dwh bbbbbbbbbb ,' $ prg sudfwlfh 0xowlsoh &krlfh,ghqwli\ wkh fkrlfh wkdw ehvw frpsohwhv wkh vwdwhphqw ru dqvzhuv wkh txhvwlrq (Figure 4-2: Comparative Advantage) Westland has an absolute advantage in producing: a. oranges only. If Eastland can produce 100 oranges or 100 peaches and Westland can produce 50 oranges or 200 peaches, Eastland has an absolute advantage in producing Examine the figure Comparative Advantage. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. 17. (Figure 4-2: Comparative Advantage) The opportunity cost of producing 1 unit of oranges for Westland is: 4 units of peaches. D) neither oranges nor peaches. Comparative advantage economics is a concept that attempts to model ideal trade decisions, in terms of goods produced, between countries. Eastland has a comparative advantage in producing: Oranges only. We can use it to find the opportunity cost (OC) of pr. B) relative labor costs. The opportunity cost of producing 1 box of peaches for Westland is _____ box(es) of oranges. Examine the figure Comparative Advantage. Choose one answer. tulips. peaches only. 1/2 b. B peaches only. D) neither oranges nor peaches. An economy that has the lowest opportunity cost for producing a particular good is said to have a(n) technological advantage. C 4 units of oranges. If Ms. Crest worked all day at the front desk, she could answer 60 phone calls. 37 Use the Comparative Advantage Figure 4 2 Westland has a comparative, 18 out of 18 people found this document helpful. Figure 4-2: Comparative Advantage) Eastland has a comparative advantage in producing: a. oranges only. Assume Westland has an absolute advantage in producing: A)oranges only. B peaches only. Use the “ Comparative Advantage ” Figure 4-2. B) the United States has an absolute advantage in the production of steel. C) both oranges and peaches. - c. oranges only. Question: Refer To The Figure Below: Eastland Westland Oranges Oranges 100 90 80 70 60 50 40 30 20 10 100 90 80 70 60 50 40 30 20 10 0 20 40 60 80 100120 140180180 200 Peaches 0 20 40 60 80 100 120 140160 180 200 Peaches Westland Has A Comparative Advantage In Producing: Oranges. name: date: according to the model, brazil will have comparative advantage in oranges if the factors that are in the production of oranges are imported abundant (Figure: Comparative Advantage) Look at the figure Comparative Advantage. View desktop site, Production possibiltiy frontier (PPC) gives the various combinations of two goods that a country can produce given its resources and technology. D) neither oranges nor peaches. comparative advantage. D 10 units of oranges 16. d. neither oranges nor peaches. C both oranges and peaches. If Dr. Colgate worked all day at the front desk. C) both oranges and peaches. ____ 37. In the same growing season, the country of Bucolic can raise 50 tons of beef or produce 750 boxes of. Based on this, information, ________ has the comparative advantage in making brownies and ________ has the comparative, In a single growing season, the country of Pastoral can raise 100 tons of beef or produce 1,000 boxes of, tulips. 1 unit of oranges. Which of the following statements is true? Without trade, Jackson produces and consumes 30, units of cattle and 80 units of wheat, while Tahoe produces and consumes 80 units of cattle and 60 units of, wheat. 17. If she worked all day with patients, she could clean the teeth of 40 patients. Westland has a comparative advantage in producing: -neither oranges nor peaches. Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production . Examine the figure Comparative Advantage. C) Japan has a comparative advantage in the production of both goods. neither oranges nor peaches. C)both oranges and peaches. D) can complete the cooking in the least amount of time. Which of the following is true? Westland has a comparative advantage in producing: A) oranges only. B) has the comparative advantage in cooking. Inflation means that: although overall prices are increasing, some prices may be increasing and some may be decreasing. 35. The circular-flow diagram illustrates how households _____ goods and services and _____ factors of production. D 10 units of oranges 16. Westland has a comparative advantage in producing: a. neither oranges nor peaches. Eastland has a comparative advantage in producing: b. peaches only. If Farmer Sam MacDonald can produce 200 pounds of cabbages and 0 pounds of potatoes or 0 pounds of cabbages and 100 pounds of potatoes and faces a linear production possibility frontier for his farm, the opportunity cost of producing an additional pound of potatoes is _____ pound(s) of cabbage. Comparative Advantage Multiple Choice Practice Mr. Bordelon AP Economics Table 1. 161. peaches only. (Table: Costs of Birthday Cakes) Look at the table Costs of Birthday Cakes. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. Westland has a comparative advantage in producing: Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. With patients, she could answer 60 phone calls found this document.... Advantage eastland has an absolute advantage in producing: oranges only 49 pages peaches 48 price of 1 unit oranges... 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