Consider the following Ricardian model with 2 countries and 2 goods. The table below provides information on the size of countries' labor force and their productivity in producing each good. India China 350 60 Labor Supply workers workers Juice 3 workers 7 workers Tea 2 workers 5 workers What country has absolute advantage in producing juice? Why? What country has comparative advantage in producing juice? Why?
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- Consider the following Ricardian model with 2 countries and 2 goods. The table below provides information on the size of countries' labor force and their productivity in producing each good. India China 60 Labor Supply 350 workers workers Juice 3 workers 7 workers Tea 2 workers 5 workers Suppose Indian workers become three times more productive in producing juice. Does the pattern of trade change? Why and why not? Edit View Insert Format Tools Table 12pt v Paragraph v B IConsider the following Ricardian model with 2 countries and 2 goods. The table below provides information on the size of countries' labor force and their productivity in producing each good. India China 60 Labor Supply 350 workers workers Juice 3 workers 7 workers Tea 2 workers 5 workers What is the pattern of trade? Explain What is the maximum free trade price of tea in terms of juice for free trade to be profitable? Explain. Edit View Insert Format Tools Table 12pt v Paragraph I U U Av 2v T?v“The world’s a stage; each plays his part, and takes his share” – Dutch proverb. Briefly discuss what this proverb means to you in reference to Globalization. Outline and explain what factors have contributed to the growth of Globalization in recent decades and suggest why companies engage in International Business? Critical discuss the negative effects of Globalization and how these effects have affected your country? provide examples to justify your points for each section.
- Can you pls give your insights or reflection regarding this video on how to solve economic problems? https://youtu.be/xenGlbOHR1kIn its recent report, The Conference Boards Global Economic Outlook 2015, updated November 2014 (http://www.conference-board.org/data/ globaloutlook.cfm), projects Chinas growth between 2015 and 2019 to be about 5.5%. International Business Times (http//www.ibtimes.com/us-exports-china-have rown-294-over-past-decade- 1338693) reports that China is the United States third largest export market, with exports to China growing 294 over the last ten years. Explain what impact China has on the U.S. economy.Table 33.15 shows how the average costs of production for semiconductors (the chips In computer memories) change as the quantity of semiconductors built at that factory increases. Based on these data, sketch a curve with quantity produced on the horizontal axis and average cost of production on the vertical axis. How does the curve illustrate economies of scale? If the equilibrium quantity of semiconductors demanded is 90,000, can this economy take full advantage of economies of scale? What about if quantity demanded is 70,000 semiconductors? 50,000 semiconductors? 30,000 semiconductors? Explain how international trade could make it possible for even a small economy to take full advantage of economies of scale, while also benefiting from competition and the variety offered by several producers.
- As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?What will happen to the equilibrium interest rate if an expansionary monetary policy is implemented? O a. It will increase O b. It will decrease O c. It will remain at point A O d. It will be the same All points represent an equilibrium, except ___. O a. Only A represents an equilibrium O b. C and D O c. B and E O d. D and E1. What is digital globalization? 2. What are tje changes since the globalization was digitalized? What activities have been present in this form of new globalization that didn't really exist before? How do countries exchange exchange goods or participate in globalization this time?
- How have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes? Explain with diagram and own concepts.What is the impact of globalization on how people communicate? Is this something positiveor negative?DI One of the principle uses of gravity models is the identification of anomalies in trade. O el t Vi 5 D The figure to the right summarizes 2006 data (Source: CIA World Factbook) for the seven Central American economies and their trade with the United States. Legend Belize B CR Costa Rica ESEl Salvador G Guatemala Based on this figure, anomalies in trade appear most evident for H Honduras N Nicaragua P Panama OA. Belize, Honduras, El Salvador, and Costa Rica. OB. Belize. OC. Panama and Guatemala. D. No anomalies are evident. % of U.S. trade with Central Am. The Size of Central American Economies and the Value of their Trade with the U.S. 30- 25- 20- 15- 10 at 5- Ив a No Ре Не ES CR 10 15 20 % of Central Am. GDP 25 Go 30 O