Question :
91.RefertoTable3-24.Theopportunitycostof1unitofbreadforSpainis
a.1/2unitofcheese.
b.1/2houroflabor.
c.2unitsofcheese.
d.8hoursoflabor.
92.Refer : 1262256
91.RefertoTable3-24.Theopportunitycostof1unitofbreadforSpainis
a.1/2unitofcheese.
b.1/2houroflabor.
c.2unitsofcheese.
d.8hoursoflabor.
92.RefertoTable3-24.Englandhasanabsoluteadvantageintheproductionof
a.cheeseandSpainhasanabsoluteadvantageintheproductionofbread.
b.breadandSpainhasanabsoluteadvantageintheproductionofcheese.
c.bothgoodsandSpainhasanabsoluteadvantageintheproductionofneithergood.
d.neithergoodandSpainhasanabsoluteadvantageintheproductionofbothgoods.
93.RefertoTable3-24.Englandhasacomparativeadvantageintheproductionof
a.cheeseandSpainhasacomparativeadvantageintheproductionofbread.
b.breadandSpainhasacomparativeadvantageintheproductionofcheese.
c.bothgoodsandSpainhasacomparativeadvantageintheproductionofneithergood.
d.neithergoodandSpainhasacomparativeadvantageintheproductionofbothgoods.
94.RefertoTable3-24.Englandshouldspecializeintheproductionof
a.cheeseandSpainshouldspecializeintheproductionofbread.
b.breadandSpainshouldspecializeintheproductionofcheese.
c.bothgoodsandSpainshouldspecializeintheproductionofneithergood.
d.neithergoodandSpainshouldspecializeintheproductionofbothgoods.
95.RefertoTable3-24.AssumethatEnglandandSpaineachhas40laborhoursavailable.Originally, eachcountrydivideditstimeequallybetweentheproductionofcheeseandbread.Now,eachcountryspendsallitstimeproducingthegoodinwhichithasacomparativeadvantage.Asaresult,thetotaloutputofcheeseincreasedby
a.15.
b.20.
c.25.
d.40.
96.RefertoTable3-24.AtwhichofthefollowingpriceswouldbothEnglandandSpaingainfromtradewitheachother?
a.16unitsofbreadfor16unitsofcheese
b.16unitsofbreadfor24unitsofcheese
c.16unitsofbreadfor48unitsofcheese
d.EnglandandSpaincouldnotbothgainfromtradewitheachotheratanyprice.
97.RefertoTable3-24.IfEnglandandSpaineachspendsallitstimeproducingthegoodinwhichithasacomparativeadvantageandthecountriesagreetotrade2unitsofbreadfor6unitsofcheese,thenEnglandwillconsume
a.34unitsofcheeseand2unitsofbreadandSpainwillconsume6unitsofcheeseand3unitsofbread.
b.34unitsofcheeseand2unitsofbreadandSpainwillconsume16unitsofcheeseand3unitsofbread.
c.34unitsofcheeseand12unitsofbreadandSpainwillconsume6unitsofcheeseand3unitsofbread.
d.34unitsofcheeseand12unitsofbreadandSpainwillconsume16unitsofcheeseand3unitsofbread.
98.RefertoTable3-24.Withouttrade,Englandproducedandconsumed32unitsofcheeseand2unitsofbreadandSpainproducedandconsumed6unitsofcheeseand2unitsofbread.Then,eachcountryagreedtospecializeintheproductionofthegoodinwhichithasacomparativeadvantageandtrade7unitsofcheesefor2.5unitsofbread.Asaresult,Englandgained
a.0unitsofcheeseand0.5unitofbreadandSpaingained1unitofcheeseand0.5unitofbread.
b.1unitofcheeseand0.5unitofbreadandSpaingained1unitofcheeseand0.5unitofbread.
c.7unitsofcheeseand2.5unitsofbreadandSpaingained7unitsofcheeseand2.5unitsofbread.
d.33unitsofcheeseand2.5unitsofbreadandSpaingained7unitsofcheeseand2.5unitsofbread.
Table3-25
AssumethatMayaandMiguelcanswitchbetweenproducingmixersandproducingtoastersataconstantrate.
HoursNeededToMake1
AmountProducedin40Hours
mixer
toaster
mixers
toasters
Maya
8
5
5
8
Miguel
20
10
2
4
99.RefertoTable3-25.Theopportunitycostof1mixerforMayais
a.0.625toasters.
b.5hoursoflabor.
c.1.6toasters.
d.20hoursoflabor.
100.RefertoTable3-25.Theopportunitycostof1mixerforMiguelis
a.1/2toaster.
b.1/2houroflabor.
c.2toasters.
d.8hoursoflabor.