The following hypothetical production possibilities tables are for China and the United States. Assume that before specialization and trade the optimal product mix for China is alternative B and for the United States is alternative U. [Note: 1 unit of apparel is 1,000 items and 1 unit of chemicals is 1 ton].

China Production Possibilities

Product A B C D E F

Apparel 80,000 64,000 48,000 32,000 16,000 0

Chemicals(tons) 0 32 64 96 128 160

U. S. Production Possibilities

Product R S T U V W

Apparel 240,000 192,000 144,000 96,0000 48,000 0

Chemicals(tons) 0 48 96 144 192 240

Instructions:

a. Are comparative-cost conditions such that the two countries should specialize? If so, what product should each produce? b. What is the total gain in apparel and chemical output that would result from such specialization?c. What are the limits of the terms of trade?d. Suppose that the actual terms of trade are 1,000 units of apparel for 1½ tons of chemicals and that 32,000 units of apparel are exchanged for 48 tons of chemicals. What are the gains from specialization and trade for each nation?

Answers

Answer 1

The opportunity cost for producing 1 unit of apparel is higher for China, therefore China should produce apparel and the US should produce chemicals.

What is opportunity cost?

It should be noted that opportunity cost simply means the real cost of forgone alternative.

Without trade, China was producing 64000 units of apparel and 32 tons of chemicals. After specialization, China produces 144000 of apparel and US produces 144 tons of chemicals.

The gains from trade will be:

= 144000 - 64000

= 80000 apparels

The tons of chemicals will be:

= 144 - 32

= 112 tons of chemicals.

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Related Questions

If the real interest rate in the united states increases relative to that of the rest of the world, capital should flow:.

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If the real interest rate in the United states increases relative to that of the rest of the world, capital flow should increase.

What happens when the real interest rate increase?

Real interest rate is the rate earned by those who give out their monies to businesses. The real interest rate has been adjusted for inflation.

When the real interest rate increases, the return earned by investors increase. This would encourage investors to increase their investment in the United States. As a result,  capital flow should increase.

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Which of the following best describes the main difference between scarcity and a shortage? a. while a shortage is a temporary market condition, scarcity is an ongoing condition in the world. b. while scarcity is a temporary market condition, a shortage is an ongoing condition in the world. c. scarcity is found throughout the world, but shortages only occur in wealthy countries. d. shortages occur everywhere, but scarcity happens only in countries with very high poverty levels. please select the best answer from the choices provided a b c d

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Answer:

The answer is A.)while a shortage is a temporary market condition, scarcity is an ongoing condition in the world.

Explanation:

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The president of Krypton Inc. desires to recognize the company's current financial status. The financial report that can furnish this content is the Balance Sheet.

What is a Balance Sheet?

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It provides a snapshot of a company's financial situation as of the publication date.

If the president of Krypton Inc. needs to know about the company's current financial situation, the Balance Sheet is the financial report that may provide this information.

Therefore, the balance sheet is the statement the shows the financial condition of the organization.

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When determining what price to charge for a product or service, marketing executives consider which of the following?

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Answer: D) all of the above

Explanation:

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Comfy Slipper Supply Inc. company consider using business process management strategy.

What is Business process management?

It involves different method that is used by a business or organization to manage it's process.

This could include methods to analyze and measure the appropriate model that can b use to optimize profit.

Therefore, Comfy Slipper Supply Inc. company consider using business process management strategy.

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The goals of macroeconomics are economic growth, full employment, and price stability. Options 2 and 4 are True.

What are the objectives of macroeconomics?

The majority of other countries have three main macroeconomic objectives: economic growth, full employment, and price stability. The economic well-being of a country is dependent on carefully defining these goals and selecting the best economic policies to achieve them.

A macroeconomic goal is full employment. TrueInflation is defined as an increase in the prices of goods and services. True

Therefore, options 2 and 4 are true.

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Answer:

2 and 4 are corect i got a 100

Explanation:

Money is a ______ of some item or group of items that is used as a medium of exchange.

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The fact that money can be used as a medium of exchange is as a result of it being a stock of some items.

What can money do?

Money allows for us to trade goods and services which makes it invaluable as a medium of exchange.

The reason money can do this is because it can be denoted as the stock or value of some items.

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O A. "I'm a hard worker."
O B. need more help.'
• C. "I wonder if my friends are good at this."
C D. "Will this be
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whats the question here?

What are some advantages of promoting products using technology?: ​

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Answer:

They get the word out faster

They can buy it from their homes, therefore increasing sales

They see it from everywhere

Explanation:

Answer:

Using technology to promote products allows you to reach a bigger audience in less time which is a major advantage.

Costs that have been incurred and cannot be eliminated regardless of the alternative chosen are ________. multiple choice sunk costs unavoidable costs relevant costs irrelevant costs

Answers

Sunk cost are costs that have been incurred and cannot be eliminated regardless of the alternative chosen.

What is sunk cost?

Sunk cost are past cost that cannot be recovered. They are irrecoverable cost or money that has been incurred or paid.

It is to be noted that sunk cost is not to be given though to especially when making future business decisions because it cannot be recovered.

Examples of sunk cost are :

Research into a new product.New software system and working practices.

Hence, sunk cost are costs that have been incurred and cannot be eliminated regardless of the alternative chosen

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As you will see from this agreement, there are different a.p.r.s applied based on how the credit card is used. which transaction type has the highest a.p.r.?

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The transaction type which has the highest annual percentage rate (A.P.R) is the one that is triggered by late payment.

What is an A.P.R?

An A.P.R is acronym for annual percentage rate and it can be defined as the yearly rate of interest that is typically generated with respect to an amount of money borrowed by a person (borrower) from a financial institution or investor (lender).

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Between 2017 and 2060, the growth in the U.S. population will be accounted for by a growth in the foreign-born population of 85%.

How will the American population change by 2060?

The census bureau believes that the U.S. population will change by more than 78 million by 2060.

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Answers

Answer:

$30.40

Explanation:

($40 million − $2 million) / 1.25 million shares = $30.40

(Assets - Liabilities) / The total number of outstanding shares is the NAV. NAV is frequently close to or equal to a company's book value. Hence fund's net asset value is $ 30.40 .

What is Mutual Fund  and NAV ?

Professional money managers run mutual funds, allocating the assets and attempting to generate capital gains or income for the fund's investors.

The portfolio of a mutual fund is set up and kept up to date in accordance with the specified investment goals in the prospectus.

The net asset value of an investment fund is calculated by dividing the number of outstanding shares by the net value of the fund's assets less its liabilities.

The price at which the shares of funds registered with the U.S. Securities and Exchange Commission (SEC) are traded is referred to as the NAV most frequently when discussing mutual funds or exchange-traded funds (ETFs).

For businesses the difference between assets and liabilities for both individuals and commercial entities is referred to as the net assets, net worth, or capital of the organization.

(Assets - Liabilities) / The total number of outstanding shares is the NAV

($40 million − $2 million) / 1.25 million shares = $30.40

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The contracts involving promises to pay a debt that are within the statute of fraud are of a very limited kinda and are referred to as secondary promises and Collateral promises. This is further explained below.

What are secondary promises?

Generally, Contracts involving commitments to settle a debt that fall within the scope of the statute of fraud are of a very restricted kind.

In conclusion, Collateral promises are also known as suretyship promises

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At an output level of 18,500 units, you calculate that the degree of operating leverage is 1.64. What will be the percentage change in operating cash flow if the new output level is 20,000 units

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The percentage change in operating cash flow if the new output level is 20,000 units is: 13%.

Percentage change in operating income

Using this formula

Percentage change in operating income=Degree of operating leverage×(New output level-Output level)Output level

Let plug in the formula

Percentage change in operating income=1.64×(20,000-18,500)/18,500

Percentage change in operating income=1.64×(1500/18,500)

Percentage change in operating income=1.64×0.08108

Percentage change in operating income=0.13×100

Percentage change in operating income=13%

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Tyrell and Barb bought a commercial investment property in 2009 during the real estate market downturn. Through what year will they be able to depreciate the investment?

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The U.S. Tax code calls for commercial investment property to be depreciated in a straight-line manner over a 39 year period.

The year in which Tyrell and Barb can depreciate to is therefore:

= 2009 + 39 years

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If a company sells a product at a price that is less than the cost of producing the product, then it is engaged in dumping.

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A product refers to any product, goods, or services intended for sale purposes. Goods, services, experiences, shopping, convenience, specialty goods, consumer goods, and industrial goods are the different types of products.

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tori is a freelance photographer and her net earnings were $80,000. calculate tori’s payroll taxes if she was a full time employee

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Tori’s payroll taxes if she was a full time employee of the company will be $11304.

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From the given information, the net income is $80000, tax rate is 15.3% for social security and Medicare.

Therefore, the tax paid by Tori will be:

= 15.3% × $73880

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Contracts whose performance, based on the terms of the contract, cannot possibly occur within ______ fall within the statute of frauds and therefore must be in writing.

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Contracts whose performance, based on the terms of the contract, cannot possibly occur within one year fall within the statute of frauds and therefore must be in writing.

What is a contract?

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The contract contains the terms of agreement between the parties involved and the rules and regulations guiding the contract.

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Riley is 25 years old, and will soon be starting a career as a business analyst. According to Levinson, Riley is in the _____ phase of adult development

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According to Levinson, Riley is in the Novice phase of adult development.

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This refers to the buying and selling of goods with the major aim of making profit.

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Answer:

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Explanation:

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If the number of consumers in the market increase,the demand increases respectively

Theory of Demand and Supply

The theory of demand and supply is a powerful tool that explains the behaviours of buyers and sellers of goods and service, and how price reacts to this behaviours.

When the demand of a commodity is high, the price will be high and when the demand is low the price will become low.

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International businesses have to engage in market __________, or identifying different groups of consumers by their purchasing behavior.

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International businesses have to engage in market Segmentation or identifying different groups of consumers by their purchasing behavior.

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Market segmentation refers to the process of dividing a large consumer or business market which usually consists of existing and potential customers, into smaller groups of consumers characterised by their shared consumer behaviour.

For international businesses to survive in a market, there is need to perform Market segmentation in order to make informed decisions.

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Finley is a positive, motivator leader who encourages his employees to socialize, harness their creativity, and set goals. What type of leader is Finley

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Based on the fact that Finley is a positive and motivational leader who encourages creativity, he is most likely a Transformational leader.

What is a transformational leader?

This is a leader who wants their followers to develop in a positive way so that they can be the best they can be.

Such leaders will therefore encourage their followers and motivate them just like Finley does to his employees.

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Enhanced cohesiveness is one of the demerits of having a diversified workforce.

What is enhanced cohesiveness?

A situation where the effectiveness of an organization is lengthened for the purpose of the goals of the organization as such with huge amount of dynamic manpower resources.

However, this dynamism in the workforce proves to be a big barrier in growth, as the allocation of the tasks in the hands of each of the employees becomes difficult at times.

Hence, option C; the disadvantage of diversified workforce is mostly in association with enhanced cohesiveness.

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Bobcat Elevator reported financial statements indicate an increase in its return on assets, even though its net profit margin declined. This is due to

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When there is an increase in return on assets and yet there is a decline in profit margin, this is due to an increase in asset turnover.

How can return on assets increase if profit margin decreases?

The profit margin is calculated by dividing the net income by the sales amount while return on assets is found by dividing the net income by total assets.

If the asset turnover increased, it means that there are less assets which means that the return on assets will be higher even though the profit margin will be lower.

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Uploaded ads give advertisers access to more inventory than responsive display ads.

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Uploaded advertisements (ads) give advertisers access to more inventory than responsive display advertisements (ads): False.

What is an advertisement?

An advertisement refers to the promotional multimedia messages that are designed and developed with the sole intention of making the various goods or services that are being offered by a business firm or an entrepreneur to become known, popular and familiar to all of its customers and potential customers.

The types of advertisement.

Generally, there are various medium that are used for the advertisement of goods or services and these include the following:

Uploaded advertisements (ads).Responsive display advertisements (ads).

In conclusion, it is false to say that uploaded advertisements (ads) give advertisers access to more inventory than responsive display advertisements (ads).

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Venus Corporation is creating an advertising budget with the goal to reach a large number of customers. Productive Advertising Company advises them that the most cost-effective way to reach a mass market is with

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Venus Corporation is putting together an advertising budget in order to reach a huge number of people.

The most cost-effective technique to reach a broad market, according to Productive Advertising Company, is via television commercials.

What is advertising on television?

A television commercial (also known as a television commercial, commercial, television spot, TV spot, advert, TV advert, or simply an ad) is a segment of television programming that is produced and paid for by a company. It sends out a message that promotes and markets a product or service.

Television advertising provides a significant competitive edge. It has the ability to increase market share, as well as provide scale and reach. It also allows you to purchase exactly the number of ratings (or watchers) that you require.

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One of the ways governments control capital inflows and outflows is by:

Group of answer choices

regulating imports.

regulating exports.

regulating FDI.

regulating domestic businesses.

Answers

Answer:

Regulating imports or exports. (I Think )

Explaination:

Capital controls are established to regulate financial flows that go in and out of the capital account meaning, the capital controls and regulates the imports and exports.

Based in Fairmont, WV, the Internet Fraud Complaint Center is run by the FBI and the National White Collar Crime Center with the goal to analyze fraud-related complaints. Question 8 options: True False

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The Internet Fraud Complaint Center, run by the FBI and the National White Collar Crime Center, indeed analyzes fraud-related complaints.

What is the Internet-Fraud Complaint Center?

The Internet-Fraud Complaint Center, based in Fairmont, WV, handles the following internet-related complaints:

Intellectual Property Rights ( IPR ) mattersComputer Intrusions (hacking)Economic Espionage (Theft of Trade Secrets)Online ExtortionInternational Money Laundering.

Thus, the Internet-Fraud Complaint Center is run by the FBI and the National White Collar Crime Center to analyze fraud-related complaints.

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