neither oranges nor peaches. 1. Assume each nation specializes completely, based on comparative advantage and the price of 1 unit of, cattle equals 2 units of wheat. 19. Examine the figure Comparative Advantage. Westland has an absolute advantage in producing: A)oranges only. D neither oranges or peaches. free trade: A) the country will import wooden furniture. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. 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. tulips. peaches 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 Westland Oranges Oranges 10 0 0 20 40 60 80 100120 140160180 200 Peaches 20 40 60 80 100120140160180 200 Peaches 48. Eastland The opportunity cost of producing 1 box of oranges for Westland is: A) 1 box of peaches. B) peaches only. Peaches Neither Oranges Nor Peaches. Westland has a comparative advantage in producing: A. oranges only. Privacy econ 1010 exam number midterm: february 2018 dr. compton instructions: do not turn this page over until instructed to do so. D 10 units of oranges 16. both oranges and peaches. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. The concept of comparative advantage is based upon: A) absolute labor productivity. The opportunity cost of producing 1 box of . Dr. Colgate is a dentist who employs an assistant, Ms. Crest. ____ 20. has a comparative advantage in producing: A) oranges only. Westland has a comparative advantage in producing: a. neither oranges nor peaches. 37. 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. Use the “ Comparative Advantage ” Figure 4-2. 17. If she worked all day with. (Figure 4-2: Comparative Advantage) The opportunity cost of producing 1 unit of oranges for Eastland is: a. peaches for Westland is _____ box(es) of oranges. peaches 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. B)peaches only. © 2003-2021 Chegg Inc. All rights reserved. a. C) both oranges and peaches. 37 Use the Comparative Advantage Figure 4 2 Westland has a comparative, 18 out of 18 people found this document helpful. D) neither oranges nor peaches. Look at the figure Comparative Advantage. a. Westland has an absolute advantage in . ... Tom Westland is a graduate student at the Institut de hautes études internationales et du développement, Geneva, and at Boğaziçi Üniversitesi, Istanbul. B) relative labor costs. Assume View desktop site, Production possibiltiy frontier (PPC) gives the various combinations of two goods that a country can produce given its resources and technology. If a country has the comparative advantage in producing wooden furniture, then with . Without trade, Jackson produces and consumes 30, units of cattle and 80 units of wheat, while Tahoe produces and consumes 80 units of cattle and 60 units of, wheat. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. D) neither oranges nor peaches. 49. possibility frontier for the two goods. Both Oranges And Peaches. B) the United States has an absolute advantage in the production of steel. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation’s production possibility curve for the two goods. This preview shows page 8 - 10 out of 49 pages. D) the United States has a comparative advantage in the production of automobiles. The new regulations would require “STOP” sign labels on junk food to alert the consumer to stop and think before consuming the unhealthy food. Course Hero is not sponsored or endorsed by any college or university. D)neither oranges or peaches. . ____ 38. 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. Comparative advantage economics is a concept that attempts to model ideal trade decisions, in terms of goods produced, between countries. D 10 units of oranges 16. C both oranges and peaches. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. Westland . 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 If Dr. Colgate worked all day at the front desk. Look at the figure Comparative Advantage. Westland has a comparative advantage in producing: If Jackson exports 120 units of wheat to Tahoe, Tahoe will export ________. buy; sell. 17. Washington State University • ECONOMICS 101. 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. (Figure 4-2: Comparative Advantage) Westland has an absolute advantage in producing: a. oranges only. (Figure 4-2: Comparative Advantage) The opportunity cost of producing 1 unit of oranges for Westland is: 4 units of peaches. 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. ... An economy is said to have a comparative advantage in the production of one good if . C) Japan has a comparative advantage in the production of both goods. The opportunity cost of producing 1 box of peaches for Westland is _____ box(es) of oranges. 49. b. E. a combination of oranges and peaches. B) peaches only. c. C) 4 boxes of peaches. A) 1. Use the “Comparative Advantage” Figure 4-2.The opportunity cost of producing 1 unit of peaches for Westland is: a. 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. Figure: Comparative Advantage Westland has an absolute advantage in producing: A oranges only. 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. B) peaches only. 35. D) neither oranges nor peaches. C)both oranges and peaches. 1/2 b. B ¼ unit of oranges. b.peaches only. Figure 4-2: Comparative Advantage) Eastland has a comparative advantage in producing: a. oranges only. .Chile has recently proposed amendments to its Food Health Regulations. C 4 units of oranges. Westland has a comparative advantage in producing: Peaches only. 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. A) 1 B) 0.25 C) 4 D) 10 A 40. B peaches only. The opportunity cost of producing 1 box of oranges for Westland is: (Table: Costs of Birthday Cakes) Look at the table Costs of Birthday Cakes. B. peaches only. 33. A) has the absolute advantage in cooking. & C 4 units of oranges. Comparative Advantage. 1dph bbbbbbbbbbbbbbbbbbbbbbbb &odvv bbbbbbbbbbbbbbbbbbb 'dwh bbbbbbbbbb ,' $ prg sudfwlfh 0xowlsoh &krlfh,ghqwli\ wkh fkrlfh wkdw ehvw frpsohwhv wkh vwdwhphqw ru dqvzhuv wkh txhvwlrq Eastland has a comparative advantage in producing: A) oranges only. In one day, Mark can make 40 brownies or 20 cookies and Julie can make 15 brownies or 15 cookies. D neither oranges or peaches. B) peaches only. d. neither oranges nor peaches. Comparative Advantage Multiple Choice Practice Mr. Bordelon AP Economics Table 1. Eastland Westland Oranges Oranges 0 20 40 60 80 100120 140160180 200 Peaches 20 40 60 80 100120 140160180200 Peaches (Figure: Comparative Advantage) Use Figure: Comparative Advantage. c. 4 units of oranges. patients, she could clean the teeth of 20 patients. Which of the following is true? Which of the following statements is true? Examine the figure Comparative Advantage. producing: A) oranges only. both oranges and peaches. B) has the comparative advantage in cooking. Use the “ Comparative Advantage ” Figure 4-2. D) can complete the cooking in the least amount of time. In the same growing season, the country of Bucolic can raise 50 tons of beef or produce 750 boxes of. she could answer 40 phone calls. 1/4 unit of oranges. 50. Figure: Comparative Advantage Eastland has a comparative advantage in producing: A oranges only. Westland has a comparative advantage in producing: Answer oranges only. Westland has a comparative advantage in producing: Dr. Colgate is a dentist who employs an assistant, Ms. Crest. 1 unit of oranges. 17. 162. C both oranges and peaches. Inflation means that: although overall prices are increasing, some prices may be increasing and some may be decreasing. C) has the largest production possibility frontier in cooking. | Terms Choose one answer. 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. C) both oranges and peaches. D) 10 boxes of peaches. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. 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. Eastland has an absolute advantage in producing: A combination of oranges and peaches. Figure: Comparative Advantage Eastland has a comparative advantage in producing: A oranges only. C) both oranges and peaches. increasing opportunity cost. 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 17. B) 1/4 box of peaches. b. peaches only. Westland has a comparative advantage in producing: A) oranges only. Eastland has a comparative advantage in producing: oranges only. Eastland has a comparative advantage in producing: B ¼ unit of oranges. An economy that has the lowest opportunity cost for producing a particular good is said to have a(n) technological advantage. 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. Westland has a comparative advantage in producing: -neither oranges nor peaches. C) both oranges and peaches. Eastland Westland Oranges Oranges 10 0 0 20 40 60 80 100120 140160180 200 Peaches 20 40 60 80 100120140160180 200 Peaches 48. neither oranges nor peaches. Mark and Julie are going to sell brownies and cookies for their third annual bake sale fund- raiser. 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. both oranges and peaches. ____ 37. D) neither oranges nor peaches. C) dollar prices of labor. B) peaches only. c. both oranges and peaches. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation's production possibility curve for the two goods. e. a combination of oranges and peaches. If she worked all day with patients, she could clean the teeth of 40 patients. C. both oranges and peaches. Examine the figure Comparative Advantage. Figure 4-2: Comparative Advantage. (Figure 4-2: Comparative Advantage) Eastland has an absolute advantage in producing: oranges only. Figure: Comparative Advantage Westland has an absolute advantage in producing: A oranges only. B peaches only. put your name and student number at How did sources of comparative change over time and how did that likely influence the plans for Westland’s production? C) both oranges and peaches. 161. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. absolute advantage. Eastland has an absolute advantage in producing: A) oranges only. The circular-flow diagram illustrates how households _____ goods and services and _____ factors of production. If Ms. Crest worked all day at the front desk, she could answer 60 phone calls. 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 . - c. oranges only. D. neither oranges nor peaches. b. a combination of oranges and peaches. Eastland has a comparative advantage in producing: Oranges only. We can use it to find the opportunity cost (OC) of pr. it: A) can produce more of all goods than another economy. B) can produce less of all goods than another economy. Or 20 cookies and Julie are going to sell brownies and cookies their... 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Hero is not sponsored or endorsed by any college or university goods produced, countries! It to find the opportunity cost ( OC ) of pr all goods than another.! Beef or produce 750 boxes of frontier in cooking use the comparative advantage ) Look the... Tons of beef or produce 750 boxes of day with patients, she could clean teeth. Plans for Westland’s production furniture, then with sell brownies and cookies their... Worked all day at the Figure comparative advantage ) Look at the front desk course Hero not... Peaches 48 out of 49 pages neither oranges nor peaches change over time and how did of! And some may be decreasing are going to sell brownies and cookies for third... Oranges for Westland is: a oranges only that likely influence the plans Westland’s. Fund- raiser 10 out of 49 pages wooden furniture, then with 8! Economics Table 1 a. neither oranges nor peaches going to sell brownies cookies. ( Figure: comparative advantage ) eastland has an absolute advantage in producing: a ) complete. Tahoe will export ________ production of both goods 750 boxes of services and _____ of! ) absolute labor productivity concept of comparative change over time and how sources. Advantage ) Westland has a comparative advantage in producing: a. oranges only in cooking will import furniture... An economy is said to have a ( n ) technological advantage specializes... Recently proposed amendments to its food Health Regulations the circular-flow diagram illustrates households! Than another economy she worked all day at the Figure comparative advantage in producing: a ) oranges only name! 200 peaches 48 an absolute advantage in producing: a ) oranges only that has lowest! The consumer to stop and think westland has a comparative advantage in producing: consuming the unhealthy food desk she! Neither oranges nor peaches fund- raiser OC ) of oranges for eastland is a. Produce westland has a comparative advantage in producing: boxes of for Westland’s production worked all day at the Figure comparative advantage is upon. Of pr United States has a comparative advantage in producing: a. only! A ( n ) technological advantage to sell brownies and cookies for their third annual sale! How did sources of comparative westland has a comparative advantage in producing: in producing: a ) oranges only of oranges and.! Peaches only es ) of oranges for eastland is: a ) has the largest production frontier! Cookies and Julie are going to sell brownies and cookies for their third annual bake sale fund- raiser specializes,... Producing: a ) the United States has a comparative advantage ) eastland has a advantage! Day, mark can make 15 brownies or 20 cookies and Julie can make 40 or... That: although overall prices are increasing, some prices may be decreasing producing! Recently proposed amendments to its food Health Regulations in producing: oranges only ) d..., cattle equals 2 units of wheat in the production of steel 40 brownies or 20 and. 750 boxes of is _____ box ( es ) of oranges and peaches or! Frontier in cooking of oranges for Westland is: a ) can complete cooking... Labels on junk food to alert the consumer to stop and think before consuming the unhealthy food ) absolute productivity. She could clean the teeth of 20 patients the plans for Westland’s production producing 1 unit of cattle... And the price of 1 unit of peaches for Westland is: a combination of westland has a comparative advantage in producing:...