# Project #83002 - Economic

Question 1

0Â pts

HONOR CODE

The rules for this quiz are as follows. Â

1) You ARE ALLOWED to use outside resources, including your notes, completed worksheets, textbook, the internet, etc. Â

2) However, you are NOT ALLOWED to work with other students. Â This quiz should be completed by each student independently. Â Working with another student will be considered a violation of the University honor code

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Question 2

2Â pts

 Â Output per Worker Â Vietnam Mexico T-Shirts 40 90 Broccoli 20 30

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The table above shows output per worker in Vietnam and Mexico for the production of T-Shirts and broccoli. Â Based on this information, which country has absolute advantage in the production of T-shirts? Â

 Â Vietnam
 Â Mexico

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Question 3

2Â pts

 Â Output per Worker Â Vietnam Mexico T-Shirts 40 90 Broccoli 20 30

Â

The table above shows output per worker in Vietnam and Mexico for the production of T-Shirts and broccoli. Â Based on this table, calculate the opportunity cost for producing broccoli in Vietnam. Â

 Â 2 T-Shirts
 Â \$3
 Â 1/2 T-Shirt
 Â 40 T-Shirts

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Question 4

2Â pts

 Â Output per Worker Â Vietnam Mexico T-Shirts 40 90 Broccoli 20 30

Â

The table above shows output per worker in Vietnam and Mexico for the production of T-Shirts and broccoli. Â Based on this information, which country has comparative advantage in producing T-Shirts? Â

Â

 Â Vietnam
 Â Mexico

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Question 5

2Â pts

 Â Output per Worker Â Vietnam Mexico T-Shirts 40 90 Broccoli 20 30

Â

The table above shows output per worker in Vietnam and Mexico for the production of T-Shirts and broccoli. Â Based on this information, if Mexico and Vietnam trade, which country is expected to produce broccoli? Â

 Â Vietnam
 Â Mexico

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Question 6

2Â pts

 Â Output per Worker Â Vietnam Mexico T-Shirts 40 90 Broccoli 20 30

Â

The table above shows output per worker in Vietnam and Mexico for the production of T-Shirts and broccoli. Â Based on this information, if Mexico and Vietnam trade, what is the upper bound for the terms of trade for broccoli?Â

Â

Â

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Question 7

2Â pts

 Â Factor Endowments Â France India Land 700 4000 Labor 100 2000

Â

The table above shows factor endowments for France and India.

What is the Land/Labor ratio for India? Â

 Â 2
 Â 7
 Â 1/7
 Â 1/2

Question 8

2Â pts

 Â Factor Endowments Â France India Land 700 4000 Labor 100 2000

Â

The table above shows factor endowments for France and India. Â

Which country is relatively land abundant? Â

 Â France
 Â India

Question 9

1Â pts

 Â Factor Endowments Â France India Land 700 4000 Labor 100 2000

Â

The table above shows factor endowments for France and India. Â

Suppose that production of a unit of rice requires 3 acres of land and 1 worker. Â Production of a unit of paper requires 8 units of land and 2 workers. Â Based on the factor endowments model and the table above, which country has comparative advantage inÂ paper? Â

 Â India
 Â France

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Question 10

1Â pts

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According to the factor endowments model, countries have comparative advantageÂ in the good that isÂ Â Â  Â Â  Â Â  Â Â  Â Â  Â Â  Â Â  Â Â  Â Â  Â [ Select ] Â  Â Â  Â Â  Â Â  Â Â Â  Â Â  Â Â  Â Â  Â ["cheaper", "abundant", "intensive"]Â  Â  Â Â  Â Â  Â Â in the factor in which that the country is relativelyÂ Â Â  Â Â  Â Â  Â Â  Â Â  Â Â  Â Â  Â Â  Â Â  Â [ Select ] Â  Â Â  Â Â  Â Â  Â Â Â  Â Â  Â Â  Â Â  Â ["abundant", "intensive", "expensive"]Â  Â  Â Â  Â Â  Â Â .Â

 Subject Business Due By (Pacific Time) 09/21/2015 12:00 am
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