Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Name your country: ____________________________________ Directions : Find the absolute and comparative advantages 1. Number of Worker Hours to Produce One rubber tire Number of Worker

Name your country: ____________________________________

Directions:

  1. Find the absoluteand comparative advantages

1.

Number of Worker Hours to Produce One rubber tire Number of Worker Hours to Produce One metal wheel Number of Additional Worker Hours to Produce One metal wheel Instead of One rubber tire
Your country 3 7
Chile 6 8

  1. Who has the absolute advantage?

  1. When finding the comparative advantage, who makes what?

2.

Number of Worker Hours to Produce One iPhone Number of Worker Hours to Produce One laptop Number of Additional Worker Hours to Produce One laptop Instead of One iPhone
Your country 10 12
Italy 2 5

  1. Who has the absolute advantage?

  1. When finding the comparative advantage, who makes what?

Number of Worker Hours to Produce One boat Number of Worker Hours to Produce One car Number of Additional Worker Hours to Produce One car Instead of One boat
Your country 5 7
Norway 6 9

  1. Who has the absolute advantage?

  1. When finding the comparative advantage, who makes what?

4.

Number of Worker Hours to Produce One ton of Oranges Number of Worker Hours to Produce One ton of apples Number of Additional Worker Hours to Produce One ton of apples Instead of One ton of oranges
Your country 1 6
United States 4 7
  1. Who has the absolute advantage?

  1. When finding the comparative advantage, who makes what?

  • Now done with every chart...
  1. Choose absolute or comparative
  2. Explain why you think the one you choose is more efficient for countries

3+ lines

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

Quality Of The Environment An Economic Approach To Some Problems In Using Land, Water, And Air

Authors: Orris C Herfindahl, Allen V Kneese

1st Edition

1317386663, 9781317386667

More Books

Students also viewed these Economics questions

Question

=+What are the outcomes?

Answered: 1 week ago