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Dmitriy789 [7]
3 years ago
6

Suppose that Spain and Denmark both produce rye and wine. Spain's opportunity cost of producing a bottle of wine is 5 bushels of

rye while Denmark's opportunity cost of producing a bottle of wine is 10 bushels of rye. By comparing the opportunity cost of producing wine in the two countries, you can tell that_______has a comparative advantage in the production of wine and___ has a comparative advantage in the production of rye. Suppose that Spain and Denmark consider trading wine and rye with each other. Spain can gain from specialization and trade as long as it receives more than _______of rye for each bottle of wine it exports to Denmark. Similarly, Denmark can gain from trade as long as it receives more than_________ of wine for each bushel of rye it exports to Spain.Based on your answer to the last question, which of the following terms of trade (that is, price of wine in terms of rye) would allow both Denmark and Spain to gain from trade? Check all that apply. a. bushel of rye per bottle of wineb. 8 bushels of rye per bottle of winec. 9 bushels of rye per bottle of wined. 3 bushels of rye per bottle of wine
Business
1 answer:
34kurt3 years ago
6 0

Explanation:

By comparing the opportunity cost of producing wine in the two countries, you can tell that Spain has a comparative advantage in the production of wine and Denmark has a comparative advantage in the production of rye.

Spain can gain from specialization and trade as long as it receives more than 5 of rye for each bottle of wine it exports to Denmark. Similarly, Denmark can gain from trade as long as it receives more than 1/10  of wine for each bushel of rye it exports to Spain.

The terms of trade (that is, price of wine in terms of rye) would allow both Denmark and Spain to gain from trade :

9 bushels of rye per bottle of wine

8 bushels of rye per bottle of wine

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Option D

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Missionary employment in scientific, pharmacy and textbook sales is quite common.

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3 years ago
With only a​ part-time job and the need for a professional​ wardrobe, Rachel quickly maxed out her credit card the summer after
choli [55]

Answer:

a. It will take her 5 years to pay for her wardrobe

b. She should shop for a new card once she is done paying for this one.

c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.

Explanation:

Use the formula below to determine the number of months it would take Rachel to pay off her debt;

C *{1-(1+r)^(-n×t)}/(r/n)=PV

where;

C=annuity

r=annual interest rate

n=number of compounding periods in a year

t=number of years

PV=present value

In our case;

PV=$10,574

C=$260

r=16%=16/100=0.16

n=12

t=unknown

replacing;

260*{1-(1+0.16/12)^(-12×t)}/(0.16/12)=10,574

1-(1+0.16/12)^(-12×t)={10,574×(0.16/12)}/260

1-{1.013^(-12 t)}=0.542

(1-0.542)=1.013^(-12 t)

ln 0.458=-12 t (ln 1.013)

t=-ln 0.458/12×ln 1.013

t=5

It will take her 5 years to pay for her wardrobe

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c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.

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Answer:

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