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