Let's consider the following two economies (economy A and B) m₁ = 0.1, m = 0.5 Besides this, both economies are characterized by c₁ + d₁ = 0.6, € = 1, co-c₁T + do + G = 240, x₁ = 0.2, and Y* = 300 Draw the graphs of goods market and net export for each country.
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- A French worker has 100 shirts or 20 in a yeara computer can produce, while a British worker can produce 100 shirtsor let's say it can produce 10 computers.- In this direction, as in question l, both the French andProduction possibilities for the British in Tabular Formyour show.- France and England each have 100 workerslet's assume. Each country, half of its employees in each sectorif it does, how many shirts and computers does each country produce?What is the total output of the shirt and computer in the worldmuch?- Now compare all employees of each countrythat he specialises in the industry in which he has the upper handlet's assume. In this case, shirts and computershow much is the total output in the world?(Figure: Ships and Autos in Countries A and B) Two countries manufacture automobiles and ships. Based on the graphs: Country A Ships 60 Ships 50 40 S305 20 10- 12 100 0 8 6- 4 2 Jo 0 20 20 40 Autos Country B 40 Autos 60 60 80 80 100 100 Country A should specialize in ship building and Country B should specialize in automotive manufacturing. There are no advantages to trade because the lines are downward sloping. Country A should specialize in automotive manufacturing and Country B should specialize in ship building. There are no advantages to trade because Country A can produce more of both goods.Occasionally, a government official will argue that a country should strive for both a trade surplus and a healthy inflow of capital from abroad. Is this possible?
- Occasionally, a government official will argue that a country should strive for both a trade surplus and a healthy inflow of capital from abroad. Explain why such a statement is economically impossible.If the removal of trade banters is so beneficial to international economic growth, why would a nation continue to restrict trade on some imported or exported products?In what way does comparing a countrys exports to GDP reflect its degree of globalization?
- What do international flows of capital have to do with trade imbalances?If trade increases world GDP by 1 per year, what is the global impact of this increase over 10 years? How does this increase compare to the annual GDP of a country like Sri Lanka? Discuss. Hint To answer this question, here are steps you may want to consider. Go to the World Development Indicators (online) published by the World Bank. Find the current level of World GDP in constant international dollars. Also, find the GDP of Sri Lanka in constant international dollars. Once you have these two numbers, compute the amount the additional increase in global incomes due to trade and compare that number to Sri Lankas GDP.Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram onto a sheet of paper and then add a foreign county as a third agent. Draw a rough sketch of the flows of imports, exports, and the payment for each on your diagram.
- 2. 10 Bananas (thousand tons) 88 69 9. 18 7. LL 2. 4. 10 8. 5. Bananas (thousand tons) Submit All O Completed 20 out of 20 Question 20 of 20 > The production possibilities frontier (PPF) for Honduras and Brazil, representing hypothetical levels of production, are shown in the graphs. Assume that, without trade, each country is initially producing and consuming at point A on its PPF curve. Suppose these countries decide to trade. Each country will specialize in the production of the good for which it has a comparative advantage. Brazil Honduras 6. 7. 7. Post-trade consumption 5. 5. post-trade consumption 3. A. 3. 1. Activate Windows 4. 5o to6Sett7gs t8 acti9ate 19indow 2. Steel (thousand tons) 3. 1 2 3. Steel (thousand tons) 9. 8. 4. LAPTOP LOGIN ICH USERNAME: student PASSWORD: Broward1 TravelMate B PrtSc Pause F11 F12 Scr Lk Break bysks NumLk L 7. 6. 6. %3DWhich of the following is true about BRIC countries: а. There is low prospects of growth O b. To attain raw materials you will outsource to Bangladesh O c. There is low investment O d. There are high growth rates which may not be seen in North AmericaBelow is the data for the maximum production of the only two products for the countries of Oz and Zas. Oz: 14 food units 22 equipment units Zas: 26 food units or 14 equipment units a. If each country is self-sufficient, with no trade between them, and each uses one-half of their resources to produce each of the two products, what is the output in each country. Fill in the table below. Country Output of food units Output of equipment units Oz Zas b. Based on part (a), total production of food is units and total production of equipment is units c. If, instead, each country specializes and produces only the product that it can produce best, what will be the output in each country? Fill in the table below. Country Output of food units Output of equipment units Oz Zas d. Now, based on part (c), total production of food is _____ units and total production of equipment is ____units. e. The gains as a result of specialization are ___ more units of food produced and _____more units of equipment…