6. Suppose a country's workers can produce 4 watches per hour or 12 rings per hour. If...

Question:

6. Suppose a country's workers can produce 4 watches per hour or 12 rings per hour. If there is no trade,

a. the domestic price of 1 ring is 3 watches.

b. the domestic price of 1 ring is 1/3 of a watch.

c. the domestic price of 1 ring is 4 watches.

d. the domestic price of 1 ring is 1/4 of a watch.

e. the domestic price of 1 ring is 12 watches.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

ISBN: 9783030019983

5th Edition

Authors: David R. Hakes

See More Books

Question Posted: Nov 14, 2024 03:00 AM

See More Questions

0 If the average tax rate exceeds the marginal tax rate, the tax would be Regressive . Progressive Uniform Proportional at Which of the following would shift a market labor supply curve to the left?...
Private carriage is more important in the motor carrier segment of our transportation industry than any of the other four major modal segments. What factors have contributed to private carriage...
What is informatics? Give a few examples.
(a) Prove that a projectile launched at angle ao has the same horizontal range as one launched with the same speed at angle (90o - ao). (b) A frog jumps at as peed of22 m/s and lands 25 cm from its...
6. Suppose a country's workers can produce 4 watches per hour or 12 rings per hour. If there is no trade, a. the domestic price of 1 ring is 3 watches. b. the domestic price of 1 ring is 1/3 of a...
How do manufacturing costs flow through inventory accounts?
According to the reading "Notes on organization design", the following patterns of integration are important in understanding an organization's ability to integrate differentiated units a ....
5. Which of the following statements is true? a. Self-sufficiency is the road to prosperity for most countries. b. A self-sufficient country consumes outside its production possibilities frontier. c....
7. Suppose a country's workers can produce 4 watches per hour or 12 rings per hour. If there is no trade, a. the opportunity cost of 1 watch is 3 rings. b. the opportunity cost of 1 watch is 1/3 of a...
Jessica and Carl were married on July 1, 2016. What are their options for filing status for their 2016 taxes?
2 0 2 P4.4 Wavecrest Inc. reported income from continuing operations before tax of $1,790,000 during 2023. Additional transactions occurring in 2023 but not included in the $1,790,000 were as...
The equity accounts of Good Karma Corp. as at January 1, 2023, were as follows: Retained earnings, January 1, 2023 $257,600 Common shares 600,000 Preferred shares 250,000 Contributed surplus 300,000...
Aero Inc. had the following statement of financial position at the end of operations for 2019: During 2020, the following occurred: 1. Aero liquidated its FV-NI investments portfolio at a loss of...
P5.9 The statement of financial position of Sargent Corporation follows for the current year, 2023: Sargent Corporation Statement of Financial Position December 31, 2023 $485,000 R Current assets...
Question 4 Which departments in an organization produce services for external clients OA. Operating departments B. Dual-rate departments OC Value-added departments OD. Support departments
A bucket of water can be whirled in a vertical circle without the water spilling out, even at the top of the circle when the bucket is upside down. Explain.
An auto-parts manufacturer is considering establishing an engineering computing center. This center will be equipped with three engineering workstations each of which would cost $25,000 and have a...

6. Suppose a country's workers can produce 4 watches per hour or 12 rings per hour. If...

Question:

Step by Step Answer:

Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

Students also viewed these Business questions