Michael can produce the following combinations of X and Y: 10X and 10Y, 5X and 15Y, or 0X and 20Y. Vernon can produce the following combinations of X and Y: 40X and 0Y, 30X and 50Y, or 20X and 100Y. It follows that
Michael can produce the following combinations of X and Y: 10X and 10Y, 5X and 15Y, or OX and 20Y. Vernon can produce the following combinations of X and Y: 40X and OY, 30X and 50Y, or 20X and 100Y. It follows that O Michael has the comparative advantage in producing X and Vernon has the comparative advantage in producing Y. Michael has the comparative advantage in producing Y and Vernon has the comparative advantage in producing X. O Neither Michael nor Vernon has a comparative advantage in producing X. O Neither Michael nor Vernon has a comparative advantage in producing Y. O There is not enough information to answer the question.Scenario 5: Consider an island country called Sierraland. Df 11?? adults surveyed in this country in 2619, 395 are not working. The status of those not working is as follows: ?1 full-ti me students; 52 discouraged workers; 95 actively seeking employment; 8? retirees; 90 others. Refer to Scenario 5. What is the official unemployment rate in this country in 2019? C} 5.06% {3 4.3.59; {3: 1.52% 0 use; (:3: 15.14% If nominal GDP increased from $4,500 billion in 2010 to $5,000 billion in 2011 and the GDP deflator increased from 100 to 116 over the same time period, what would the 2011 real GDP equal expressed in terms of 2010 dollars? O $4,285 billion O $4,310 billion O $4,615 billion O $4,762 billionSuppose the total market value of all nal goods and servioes produced in eoonomy X this year is $3 million Of the $3 million worth ofgoo-ds and services, $2 million is sold and $1 million is held in inventory For this year= the GDP for economy X is O $4 million. O $3 million. O $2 million. O $5 million. O none of the above Exhibit 2-9 Alex Adam Good X Good Y Good X Good Y 0 120 0 160 25 90 30 120 50 60 60 80 75 30 90 40 100 0 120 0 Refer to Exhibit 2-9. Alex can produce the following combinations of X and Y: 0X and 120Y, 25X and 90Y, 50X and 60Y, 75X and 30Y, or 100X and OY. Adam can produce the following combinations of X and Y: 0X and 160Y, 30X and 120Y, 60X and 80Y, 90X and 40Y, or 120X and OY. Who has the comparative advantage in the production of good X? Alex O Adam O Both Alex and Adam O Neither Alex nor Adam
