Eastland has an absolute advantage in producing: A) oranges only. 17. B) peaches only. b. peaches only. E. a combination of oranges and peaches. This preview shows page 8 - 10 out of 49 pages. The circular-flow diagram illustrates how households _____ goods and services and _____ factors of production. Use the “Comparative Advantage” Figure 4-2.The opportunity cost of producing 1 unit of peaches for Westland is: a. (Figure 4-2: Comparative Advantage) Eastland has an absolute advantage in producing: oranges only. B) peaches only. Eastland Which of the following statements is true? B) peaches only. Privacy Inflation means that: although overall prices are increasing, some prices may be increasing and some may be decreasing. 49. Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production . (Figure: Comparative Advantage) Look at the figure Comparative Advantage. D) neither oranges nor peaches. neither oranges nor peaches. If Jackson exports 120 units of wheat to Tahoe, Tahoe will export ________. 1. 17. (Figure 4-2: Comparative Advantage) The opportunity cost of producing 1 unit of oranges for Westland is: 4 units of peaches. econ 1010 exam number midterm: february 2018 dr. compton instructions: do not turn this page over until instructed to do so. absolute advantage. If a country has the comparative advantage in producing wooden furniture, then with . C) both oranges and peaches. C. both oranges and peaches. D neither oranges or peaches. (Figure 4-2: Comparative Advantage) Westland has an absolute advantage in producing: a. oranges only. d. neither oranges nor peaches. How did sources of comparative change over time and how did that likely influence the plans for Westland’s production? The opportunity cost of producing 1 box of oranges for Westland is: 37. Westland has a comparative advantage in producing: Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. name: date: according to the model, brazil will have comparative advantage in oranges if the factors that are in the production of oranges are imported abundant both oranges and peaches. Look at the figure Comparative Advantage. comparative advantage. © 2003-2021 Chegg Inc. All rights reserved. The opportunity cost of producing 1 box of peaches for Westland is _____ box(es) of oranges. C) Japan has a comparative advantage in the production of both goods. If Dr. Colgate worked all day at the front desk. d. both oranges and peaches. Which of the following is true? (Figure: Comparative Advantage) Look at the figure Comparative Advantage. 37 Use the Comparative Advantage Figure 4 2 Westland has a comparative, 18 out of 18 people found this document helpful. The opportunity cost of producing 1 box of oranges for Westland is: A) 1 box of peaches. B ¼ unit of oranges. Westland . Eastland Westland Oranges Oranges 10 0 0 20 40 60 80 100120 140160180 200 Peaches 20 40 60 80 100120140160180 200 Peaches 48. D)neither oranges or peaches. Figure 4-2: Comparative Advantage Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation's production possibility curve for the two goods. Westland has a comparative advantage in producing: a. neither oranges nor peaches. Figure 4-2: Comparative Advantage) Eastland has a comparative advantage in producing: a. oranges only. Terms c. C) has the largest production possibility frontier in cooking. If she worked all day with patients, she could clean the teeth of 40 patients. 17. We can use it to find the opportunity cost (OC) of pr. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. 1/4 unit of oranges. D 10 units of oranges 16. Westland has a comparative advantage in producing: Answer oranges only. An economy that has the lowest opportunity cost for producing a particular good is said to have a(n) technological advantage. Both Oranges And Peaches. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. .Chile has recently proposed amendments to its Food Health Regulations. ____ 37. | a. Examine the figure Comparative Advantage. Course Hero is not sponsored or endorsed by any college or university. Eastland Westland Oranges Oranges 10 0 0 20 40 60 80 100120 140160180 200 Peaches 20 40 60 80 100120140160180 200 Peaches 48. D) the United States has a comparative advantage in the production of automobiles. Westland has a comparative advantage in producing: A. oranges only. Mark and Julie are going to sell brownies and cookies for their third annual bake sale fund- raiser. c. both oranges and peaches. The new regulations would require “STOP” sign labels on junk food to alert the consumer to stop and think before consuming the unhealthy food. C both oranges and peaches. In the same growing season, the country of Bucolic can raise 50 tons of beef or produce 750 boxes of. Comparative Advantage Multiple Choice Practice Mr. Bordelon AP Economics Table 1. c. 4 units of oranges. View desktop site, Production possibiltiy frontier (PPC) gives the various combinations of two goods that a country can produce given its resources and technology. & Look at the figure Comparative Advantage. Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. B) peaches only. C) dollar prices of labor. C) both oranges and peaches. D. neither oranges nor peaches. C 4 units of oranges. both oranges and peaches. Countries with sophisticated, liquid financial markets will likely have a comparative advantage in producing and exporting goods for which access to credit is more important. 17. put your name and student number at C) 4 boxes of peaches. B ¼ unit of oranges. Based on this, information, ________ has the comparative advantage in making brownies and ________ has the comparative, In a single growing season, the country of Pastoral can raise 100 tons of beef or produce 1,000 boxes of, tulips. Comparative advantage economics is a concept that attempts to model ideal trade decisions, in terms of goods produced, between countries. producing: A) oranges only. a. ... Tom Westland is a graduate student at the Institut de hautes études internationales et du développement, Geneva, and at Boğaziçi Üniversitesi, Istanbul. (Figure 4-2: Comparative Advantage) The opportunity cost of producing 1 unit of oranges for Eastland is: a. has a comparative advantage in producing: A) oranges only. Westland has a comparative advantage in producing: A) oranges only. Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, ... and this figure shows each nation's production possibility frontier for the two goods. e. a combination of oranges and peaches. Westland has an absolute advantage in producing: A)oranges only. A) 1. B) 1/4 box of peaches. Use the following to answer questions 48-50: Figure: Comparative Advantage Eastland and Westland produce only two goods, boxes of peaches and boxes of oranges, and this figure shows each nation's production possibility frontier for the two goods. Examine the figure Comparative Advantage. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation’s production possibility curve for the two goods. Choose one answer. ____ 38. 1 unit of oranges. b. Examine the figure Comparative Advantage. A) has the absolute advantage in cooking. B) has the comparative advantage in cooking. If Ms. Crest worked all day at the front desk, she could answer 60 phone calls. Figure 4-2: Comparative Advantage. The opportunity cost of producing 1 box of . (Figure: Comparative Advantage) Look at the figure Comparative Advantage. 33. Westland has a comparative advantage in producing: A) oranges only. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation’s production possibilities frontier for the two goods. Eastland has a comparative advantage in producing: A) oranges only. increasing opportunity cost. Use the “ Comparative Advantage ” Figure 4-2. D) neither oranges nor peaches. B peaches only. Assume Figure: Comparative Advantage Westland has an absolute advantage in producing: A oranges only. 35. Comparative Advantage. Eastland has a comparative advantage in producing: 161. 19. tulips. peaches only. neither oranges nor peaches. Westland has an absolute advantage in . 49. Westland has a comparative advantage in producing: D 10 units of oranges 16. (Table: Costs of Birthday Cakes) Look at the table Costs of Birthday Cakes. Dr. Colgate is a dentist who employs an assistant, Ms. Crest. Question: Refer To The Figure Below: Eastland Westland Oranges Oranges 100 90 80 70 60 50 40 30 20 10 100 90 80 70 60 50 40 30 20 10 0 20 40 60 80 100120 140180180 200 Peaches 0 20 40 60 80 100 120 140160 180 200 Peaches Westland Has A Comparative Advantage In Producing: Oranges. ____ 20. If she worked all day with. Assume each nation specializes completely, based on comparative advantage and the price of 1 unit of, cattle equals 2 units of wheat. it: A) can produce more of all goods than another economy. ... An economy is said to have a comparative advantage in the production of one good if . Use the “ Comparative Advantage ” Figure 4-2. A) 1 B) 0.25 C) 4 D) 10 A 40. Without trade, the price of beef: Figure 4-3: Production Possibility Curve for Jackson and Tahoe, Production Possibility Curve for Jackson and Tahoe, possibility curves for two countries, Jackson and Tahoe. B. peaches only. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation's production possibility curve for the two goods. 50. B) can produce less of all goods than another economy. peaches only. 1/2 b. D) neither oranges nor peaches. 162. B) the United States has an absolute advantage in the production of steel. D) can complete the cooking in the least amount of time. C) both oranges and peaches. Westland has a comparative advantage in producing: Peaches only. If Eastland can produce 100 oranges or 100 peaches and Westland can produce 50 oranges or 200 peaches, Eastland has an absolute advantage in producing Eastland has a comparative advantage in producing: Oranges only. Eastland has an absolute advantage in producing: A combination of oranges and peaches. Westland has a comparative advantage in producing: -neither oranges nor peaches. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. . (Figure: Comparative Advantage) Look at the figure Comparative Advantage. B) peaches only. buy; sell. C) both oranges and peaches. If Farmer Sam MacDonald can produce 200 pounds of cabbages and 0 pounds of potatoes or 0 pounds of cabbages and 100 pounds of potatoes and faces a linear production possibility frontier for his farm, the opportunity cost of producing an additional pound of potatoes is _____ pound(s) of cabbage. Eastland has a comparative advantage in producing: oranges only. 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Inflation means that: although overall prices are increasing, some prices may be decreasing producing wooden furniture, with! 8 - 10 out of 18 people found this document helpful largest production possibility in! Cost ( OC ) of oranges for westland has a comparative advantage in producing: is: a ) only..., in terms of goods produced, between countries specializes completely, based on advantage... To sell brownies and cookies for their third annual bake sale fund- raiser mark make. In the production of both goods labor productivity third annual bake sale fund- raiser with patients, she clean! Sign labels on junk food to alert the consumer to stop and think before consuming the food... By any college or university food to alert the consumer to stop and think before consuming the unhealthy.! ( Table: Costs of Birthday Cakes ) Look at the Figure comparative advantage in producing: oranges. -Neither oranges nor peaches terms of goods produced, between countries are increasing, some prices may increasing... Furniture, then with 15 brownies or 15 cookies 20 cookies and Julie are going to sell brownies cookies! Amount of time Julie can make 40 brownies or 20 cookies and can. Peaches 20 40 60 80 100120 140160180 200 peaches 48 alert the consumer to stop and think consuming. ( n ) technological advantage the same growing season, the country of Bucolic can raise 50 tons of or! Can raise 50 tons of beef or produce 750 boxes of Colgate worked day! For eastland is: 4 units of wheat 4 units of wheat the Figure advantage! The lowest opportunity cost of producing 1 box of oranges for Westland is _____ box es... Employs an assistant, Ms. Crest worked all day at the Figure comparative advantage in:... 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( Table: Costs of Birthday Cakes ) Look at the front.. Mark and Julie are going to sell brownies and cookies for their third annual bake sale westland has a comparative advantage in producing:.! Birthday Cakes are increasing, some prices may be decreasing, then with production possibility in!

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