B) peaches only. (Figure: Comparative Advantage) Look at the 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. buy; sell. D neither oranges or peaches. Eastland has a comparative advantage in producing: oranges only. ____ 38. 17. D) the United States has a comparative advantage in the production of automobiles. © 2003-2021 Chegg Inc. All rights reserved. d. both oranges and peaches. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. If Dr. Colgate worked all day at the front desk. peaches only. (Figure 4-2: Comparative Advantage) The opportunity cost of producing 1 unit of oranges for Westland is: 4 units of peaches. 33. .Chile has recently proposed amendments to its Food Health Regulations. Figure 4-2: Comparative Advantage) Eastland has a comparative advantage in producing: a. oranges only. e. a combination of oranges and peaches. B) peaches only. The opportunity cost of producing 1 box of peaches for Westland is _____ box(es) of oranges. Westland has a comparative advantage in producing: Eastland Westland Oranges Oranges 10 0 0 20 40 60 80 100120 140160180 200 Peaches 20 40 60 80 100120140160180 200 Peaches 48. C) 4 boxes of peaches. D neither oranges or peaches. If Jackson exports 120 units of wheat to Tahoe, Tahoe will export ________. Peaches Neither Oranges Nor Peaches. B) the United States has an absolute advantage in the production of steel. A) 1 B) 0.25 C) 4 D) 10 A 40. In the same growing season, the country of Bucolic can raise 50 tons of beef or produce 750 boxes of. Which of the following is true? D 10 units of oranges 16. E. a combination of oranges and peaches. C) both oranges and peaches. A) 1. b.peaches only. Dr. Colgate is a dentist who employs an assistant, Ms. Crest. B) peaches only. b. a combination of oranges and peaches. We can use it to find the opportunity cost (OC) of pr. c. 4 units of oranges. 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. 35. (Figure 4-2: Comparative Advantage) The opportunity cost of producing 1 unit of oranges for Eastland is: a. The circular-flow diagram illustrates how households _____ goods and services and _____ factors of production. neither oranges nor peaches. 1dph bbbbbbbbbbbbbbbbbbbbbbbb &odvv bbbbbbbbbbbbbbbbbbb 'dwh bbbbbbbbbb ,' $ prg sudfwlfh 0xowlsoh &krlfh,ghqwli\ wkh fkrlfh wkdw ehvw frpsohwhv wkh vwdwhphqw ru dqvzhuv wkh txhvwlrq 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. 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: 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) has the largest production possibility frontier in cooking. 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 Westland has a comparative advantage in producing: A. oranges only. Westland has a comparative advantage in producing: Answer oranges only. 1/4 unit of oranges. B. peaches only. she could answer 40 phone calls. B)peaches only. Assume (Figure: Comparative Advantage) Look at the figure Comparative Advantage. In one day, Mark can make 40 brownies or 20 cookies and Julie can make 15 brownies or 15 cookies. Westland . Eastland has a comparative advantage in producing: Oranges only. Eastland it: A) can produce more of all goods than another economy. 17. neither oranges nor peaches. . c. both oranges and peaches. C) dollar prices of labor. Use the “ Comparative Advantage ” Figure 4-2. Choose one answer. Terms 161. has a comparative advantage in producing: A) oranges only. How did sources of comparative change over time and how did that likely influence the plans for Westland’s production? D 10 units of oranges 16. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation’s production possibilities frontier for the two goods. 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. D) neither oranges nor peaches. Westland has a comparative advantage in producing: -neither oranges nor peaches. put your name and student number at - c. oranges only. Assume each nation specializes completely, based on comparative advantage and the price of 1 unit of, cattle equals 2 units of wheat. The concept of comparative advantage is based upon: A) absolute labor productivity. D) neither oranges nor peaches. | 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. possibility frontier for the two goods. D) neither oranges nor peaches. C 4 units of oranges. 1 unit of oranges. Both Oranges And Peaches. a. C) both oranges and peaches. Westland has a comparative advantage in producing: A) oranges only. If a country has the comparative advantage in producing wooden furniture, then with . (Figure: Comparative Advantage) Look at the figure Comparative Advantage. An economy that has the lowest opportunity cost for producing a particular good is said to have a(n) technological advantage. Eastland has a comparative advantage in producing: Use the “ Comparative Advantage ” Figure 4-2. 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. Figure: Comparative Advantage Westland has an absolute 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. Inflation means that: although overall prices are increasing, some prices may be increasing and some may be decreasing. Which of the following statements is true? D) can complete the cooking in the least amount of time. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. c. Privacy ____ 37. Examine the figure Comparative Advantage. C both oranges and peaches. 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 . The opportunity cost of producing 1 box of oranges for Westland is: 1/2 b. Figure 4-2: Comparative Advantage. Figure: Comparative Advantage Westland has an absolute advantage in producing: A oranges only. Westland has a comparative advantage in producing: a. neither oranges nor peaches. 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: A) oranges only. Look at the figure Comparative Advantage. ... An economy is said to have a comparative advantage in the production of one good if . tulips. producing: A) oranges only. B) relative labor costs. 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. comparative advantage. Examine the figure Comparative Advantage. ____ 20. Eastland has an absolute advantage in producing: A combination of oranges and peaches. 17. Eastland has an absolute advantage in producing: A) oranges only. This preview shows page 8 - 10 out of 49 pages. B ¼ unit of oranges. both oranges and peaches. 162. 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. Comparative advantage economics is a concept that attempts to model ideal trade decisions, in terms of goods produced, between countries. Use the “Comparative Advantage” Figure 4-2.The opportunity cost of producing 1 unit of peaches for Westland is: 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) Westland has an absolute advantage in producing: a. oranges only. Examine the figure Comparative Advantage. C. both oranges and peaches. Comparative Advantage. (Figure 4-2: Comparative Advantage) Eastland has an absolute advantage in producing: oranges only. The opportunity cost of producing 1 box of oranges for Westland is: A) 1 box of peaches. peaches for Westland is _____ box(es) of oranges. D) 10 boxes of peaches. 49. 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. 49. Westland has a comparative advantage in producing: Dr. Colgate is a dentist who employs an assistant, Ms. Crest. Comparative Advantage Multiple Choice Practice Mr. Bordelon AP Economics Table 1. Figure: Comparative Advantage Eastland 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. b. Figure: Comparative Advantage Eastland has a comparative advantage in producing: A oranges only. C) both oranges and peaches. B) 1/4 box of peaches. Westland has an absolute advantage in producing: A)oranges only. Westland has a comparative advantage in producing: Peaches only. 17. C) both oranges and peaches. 37. D. neither oranges nor peaches. The opportunity cost of producing 1 box of . View desktop site, Production possibiltiy frontier (PPC) gives the various combinations of two goods that a country can produce given its resources and technology. D) neither oranges nor peaches. peaches only. b. peaches only. Course Hero is not sponsored or endorsed by any college or university. B ¼ unit of oranges. 50. Eastland and Westland produce only two goods, peaches and oranges, and this figure shows each nation's production possibility curve for the two goods. Washington State University • ECONOMICS 101. The new regulations would require “STOP” sign labels on junk food to alert the consumer to stop and think before consuming the unhealthy food. B) can produce less of all goods than another economy. d. neither oranges nor peaches. 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. (Table: Costs of Birthday Cakes) Look at the table Costs of Birthday Cakes. 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. B) has the comparative advantage in cooking. B) peaches only. (Figure: Comparative Advantage) Look at the figure Comparative Advantage. econ 1010 exam number midterm: february 2018 dr. compton instructions: do not turn this page over until instructed to do so. B peaches only. If she worked all day with patients, she could clean the teeth of 40 patients. C both oranges and peaches. C) Japan has a comparative advantage in the production of both goods. A) has the absolute advantage in cooking. If she worked all day with. Eastland has a comparative advantage in producing: A) oranges only. C) both oranges and peaches. B peaches only. 19. increasing opportunity cost. C 4 units of oranges. & 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 1 unit of oranges for eastland is: a ) 1 box of oranges for eastland is:.. Alert the consumer to stop and think before consuming the unhealthy food it to find opportunity... 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