Quick Answer: Refer To Table 3-34. For Which Good(s) Does Indonesia Have A Comparative Advantage?

For which good does Indonesia have a comparative advantage?

Revealed Comparative Advantage (RCA) suggests that Indonesia exports manufacture good that specialize in natural resource-intensive and unskilled labor-intensive, that has slower world demand growth compared to those commodities with high technology-intensive.

Which of the following combinations of cheese and wine could France produce in 40 hours quizlet?

Which of the following combinations of cheese and wine could France not produce in 40 hours? If France has 40 labor hours available, then if it produces 1 unit of cheese, this leaves 40 – (8 x 1) = 32 hours left to make wine, which means it can also make 16 units of wine.

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What is opportunity cost of producing 1 unit of cheese for England?

Answer and Explanation: According to the table, the opportunity cost of 1 unit of cheese in England is c. 1/2 bread.

What is Canada’s opportunity cost of producing 1 skyscraper?

What is Canada’s opportunity cost of producing 1 skyscraper?Canada’s opportunity cat of producing 1 skyscraper is 4/3 space shuttles.

Which good S does Denmark have an absolute advantage producing?

Refer to Table 3-35. Which good(s) does Denmark have an absolute advantage producing? neither ham nor eggs.

How is opportunity cost calculated?

The formula for calculating an opportunity cost is simply the difference between the expected returns of each option.

Who has the comparative advantage in the production of avocados quizlet?

Who has the comparative advantage in the production of avocados? US: 1 avocado costs 4 apples, 1 apple costs 0.25 avocado. Mexico: 1 avocado costs 0.5 apple, 1 apple costs 2 avocados.

When a country has a comparative advantage in the production of a good?

Transcribed image text: When a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its trading partner. Then the country will specialize in the production of this good and trade it for other goods.

Which is the most accurate statement about trade?

The statement ‘ Trade can make every nation better off’ is the most accurate statement

Which types of models are built with assumptions?

Economic models are built with assumptions. Economic models are often composed of equations and diagrams.

When two countries trade with one another it is most likely because?

Question: When two countries trade with one another, it is most likely because a. the wealthy people in each of the two countries are able to benefit, through trade, by taking advantage of other people who are poor.

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What must be given up to obtain an item is called?

Economists use the term opportunity cost to indicate what must be given up to obtain something that’s desired. The idea behind opportunity cost is that the cost of one item is the lost opportunity to do or consume something else; in short, opportunity cost is the value of the next best alternative.

Does Canada have an absolute advantage in maple syrup?

The United States and Canada both have the ability to produce each. labor while the USA uses 5 hours to produce a gallon of maple syrup: Canada has an absolute advantage over USA in producing maple syrup.

Which country has an absolute advantage in wheat production?

The U.S. has an absolute advantage in wheat: producing a ton of wheat uses 10 labor hours in the U.S. vs. 25 in Japan. in one good and specializes in that good, then both countries can gain from trade.

Which country has a comparative advantage in wheat explain?

Canada has a comparative advantage in the production of wheat because she has a lower opportunity cost in the production of wheat.

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