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