Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

incorrect answer straight away down vote... keep this mind 1. In 2012, the island of Madagascar had an index of export prices of 15% (115)

image text in transcribed

incorrect answer straight away down vote... keep this mind

1. In 2012, the island of Madagascar had an index of export prices of 15% (115) over the previous year and an index of import prices of 7% (107) over the previous year. Calculate Terms of trade of Madagascar economy. (ANS.: 107.5) 2. The table given below shows the number of labour hours required to produce Sugar and Rice in two countries X and Y: (N18 - 3M) Commodity Country X Country Y 1 unit of Sugar 2.0 5.0 1 unit of Rice 4.0 2.5 a) Compute the Productivity of labour in both countries in respect of both commodities. b) Which country has absolute advantage in production of Sugar? c) Which country has absolute advantage in production of Rice? (N18 - 3M)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Theory Of Constraints Handbook

Authors: James Cox, John Schleier

1st Edition

0071665544, 978-0071665544

More Books

Students also viewed these Finance questions