Question 1 Let tables A and B represent the Production Possibilities Schedules of two hypothetical economies Country A A B C D Sports cars 0 30 40 60 Computers 240 160 80 0 Country B A B C D Sports cars 0 4 8 12 Computers 54 36 18 0 Which country has an absolute disadvantage in Sports Cars production Which country has an absolute disadvantage in Computer production Which country has a comparative disadvantage in Sports Cars production Which country has a comparative disadvantage in Computer production What is the opportunity cost of Sports Cars in Country A What is the opportunity cost of Sports Cars in Country B What is the opportunity cost of Computers in Country A What is the opportunity cost of Computers in Country B Which country will specialize in the production of Sports Cars Which country will specialize in the production of Computers Question 2 Trade restrictions are a double edged sword Is this statement true or false Take a position and support it using materials from the text and outside sources Please cite your sources Question 3 The welfare impact of an import quota is different from that of a tariff Is this statement true or false Take a position and support it using materials from the text and outside sources Please cite your sources

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 04, 2024

Question 1 Let tables A and B represent the Production Possibilities Schedules of two hypothetical economies. Country A A B C D Sports cars 0

Question 1

Let tables A and B represent the Production Possibilities Schedules of two hypothetical economies.

Country A

	A	B	C	D
Sports cars	0	30	40	60
Computers	240	160	80	0

Country B

	A	B	C	D
Sports cars	0	4	8	12
Computers	54	36	18	0

Which country has an absolute disadvantage in Sports Cars production?
Which country has an absolute disadvantage in Computer production?
Which country has a comparative disadvantage in Sports Cars production?
Which country has a comparative disadvantage in Computer production?
What is the opportunity cost of Sports Cars in Country A?
What is the opportunity cost of Sports Cars in Country B?
What is the opportunity cost of Computers in Country A?
What is the opportunity cost of Computers in Country B?
Which country will specialize in the production of Sports Cars?
Which country will specialize in the production of Computers?

Question 2

Trade restrictions are a double-edged sword". Is this statement true or false? Take a position and support it using materials from the text and outside sources. Please cite your sources.

Question 3

"The welfare impact of an import quota is different from that of a tariff." Is this statement true or false? Take a position and support it using materials from the text and outside sources. Please cite your sources.