hs. 8-15) - Requires Respondus LockDown Browser Time Left:0:55:06 Prabhjot Singh: Attempt 1 Question 44 (1 point) The following data outline production choices (A or b. in two nations, Landia and Scandia. Landia has a workforce of 12 and Scandia has a workforce of 10. Output per worker in Landia Output per worker in Scandia A B A B Fish 8 0 Fish 16 0 Chips 0 40 Chips 0 48 Refer to the information in the table above. Assume that before specialization and trade, each nation devoted half of its workforce to each product. If these two nations now fully specialize in accordance with comparative advantage, the total gains from specialization would be: O 50 chips and 24 fish dry 32 fish 24 chips and 32 fish 8 chips and 32 fish 8 chips Previous Page Next Page Page 22 of 25 10 101 16 10 4+ $ & 4 5 7 S 9 R T Y U O P F G H K Dau V B N MX (Chs. 8-15) - Requires Respondus LockDown Browser Time Left:0:49:44 Prabhjot Singh: Attempt 1 Question 40 ( 1 point) In the following diagram, Sa and D are the domestic supply and demand for a product and P. is the world price of that product. Price ($) 0 Quantity In the following diagram, Sa and D are the domestic supply and demand for a product and P. is the world price of that product. Price ($) hp 14 101 15 18 + 19 144 Bre 5 6 R T Y U O P F G H C K V B N M VChs. 8-15) - Requires Respondus LockDown Browser Time Left:0:49:33 Prabhjot Singh: Attempt 1 In the following diagram, So and D are the domestic supply and demand for a product and P. is the world price of that product. Price ($) Quantity Refer to the figure above to answer the following question. The total amount of tariff revenue collected on this product would be: PcPax x PP . x x PCPt x wy PaPt x wy OPP X Z Previous Page Next Page Page 23 of 25 hp 16 10 4- 4+ $ o/o A c 5 8 O R T Y U P F G H K V B N MChs. 8-15) - Requires Respondus LockDown Browser Time Left:0:46:34 Prabhjot Singh: Attempt 1 In the following diagram, Sao and D are the domestic supply and demand for a product and Po is the world price of that product. Si is the product supply after an import quota is imposed Price ( 3 ) Refer to the figure above to answer the following question. Assuming there is no tariff, the imposition of the import quota. O will increase the revenues of foreign producers by area F + J O will increase the revenue of the Canadian government by areas E + F + G + H+ J will increase the revenues of foreign producers by area E O will increase the revenue of the Canadian government by areas G + H O leads to an extra revenue to foreign producers equal to areas G + H. which partly counteracts the loss they bear because of lower quantities supplied 96 & 5 7 S R T Y U P F G H K pause V B N Mm (Chs. 8-15) - Requires Respondus LockDown Browser :00 Time Left:0:51:11 Prabhjot Singh: Attempt 1 Previous Page Next Page Page 23 of 25 Question 45 (1 point) The following data outline production choices (A or b. in two nations, Landia and Scandia. Landia has a workforce of 12 and Scandia has a workforce of 10. Output per worker in Lankdia Output per worker in Scandia B A B Fish 8 0 Fish 16 0 Chips 0 40 Chips 0 48 - Refer to the information in the table above. Which of the following would be feasible terms of trade between Landia and Scandia? 1 fish for 6 chips 1 fish for 7 chips 1 fish for 4 chips O 2 fish for 4 chips O 8 chips for 1 fish Question 46 (1 point) In the following diagram, Sa and D are the domestic supply and demand for 16 40 1+ 144 # 3 $ 4 5 6 7 9 O E E R T Y U P D F G H K C V B N MX (Chs. 8-15) - Requires Respondus LockDown Browser Time Left:0:59:41 Prabhjot Singh: Attempt 1 Question 39 (1 point) 'S Values of Canadian Dollars in terms of British Pounds Do Quantity in Canadian Dollars Under a system of flexible exchange rates, the shift in demand from Do to D, and in supply from So to $1: O causes the pound to depreciate will ultimately cause Canada's exports to decline and its imports to rise O causes the dollar to depreciate causes the dollar to appreciate has no effect on the values of the two currencies hp 11 16 10 17 144 % & K $ 9 5 6 7 8 Y U P R T F HX (Chs. 8-15) - Requires Respondus LockDown Browser Time Left:0:55:15 Prabhjot Singh: Attempt 1 Question 43 ( 1 point) The following data outline production choices (A or b. in two nations, Landia and Scandia. Landia has a workforce of 12 and Scandia has a workforce of 10. Output per worker in Landia Output per worker in Scandia A B A B Fish 8 Fish 16 0 Chips 0 40 Chips 48 Refer to the data in the table above. On the basis of these data, we can say that: both Landia and Scandia have a comparative advantage in fish neither Landia nor Scandia has a comparative advantage in chips Scrambling: Locked Landia has a comparative advantage in fish while Scandia has a comparative advantage in chips both Landia and Scandia have a comparative advantage in chips Landia has a comparative advantage in chips while Scandia has a comparative advantage in fish Question 44 (1 point) The following data outline production choices (A or b. in two nations, Landia and Scandia. Landia has a workforce of 12 and Scandia has a workforce of 10. Output per worker in Landia Output per worker in Scandia A B A B hp 16 10 4- 144 & 6 7 9 O E R T Y U C P D G H C K C V B N Mn (Chs. 8-15) - Requires Respondus LockDown Browser Time Left:1:18:28 Prabhjot Singh: Attempt 1 Question 28 (1 point) In the following table for a hypothetical country, C is consumption, I is investment, G is government purchases, X is exports, and M is imports. All figures in columns (2) to (6) are in billions of dollars (1) Price M Level 128 $18 $2 $3 $4 $5 125 20 4 122 22 6 13 3 119 24 18 13 116 26 10 Refer to the table above. Which of the following schedules constitutes aggregate demand in this country? Real Expenditures Price (A) (B) (C (D) 128 22 23 27 24 125 127 27 31 27 122 32 31 35 30 119 37 35 39 33 116 42 139 43 136 O( A) O B) Previous Page Next Page Page 14 of hp 4+ 19 144 % & 4 5 6 8 E